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Welcome to Loans 121 We are an online resource to help guide you through the process of choosing and applying for the correct loan that you require. We will offer our advice and experience along the way. There will be many reasons why people will be applying for a UK loan, and there is also many different types of loans that are available too. We are here to help guide you through offering our free advice and assistance. First of all there are unsecured loans. Unsecured loans are ideal for people who do not own their own home or for people who want a loan in a hurry. The fact that they loan is not secured against any of your assets means that the lender will view this as high risk and accordingly charge a higher rate of interest. Secondly there will be secured loans. These are loans which use your home as collateral, thus the main reason for taking out a secured loan will be for home improvements. Any improvements that you make to the house will increase the value of your house, which means that the lender will see this type of loan as a safer , more secured loan.The secured loan as you may guess is the cheaper option of these two types of basic loan and will offer a lower rate of interest also. In this guide we also offer advice and offers for car loans. These are unsecured loans designed specifically for the purchase of a car. For a car loan you can expect to pay a higher rate of interest because of the increased risk factor from the lenders point of view. Your car dealer may offer you a quick and convenient car loan with a minimum of fuss but expect a higher APR, so it really does pay to shop around.
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