All posts by Karl Mawson

Life Insurance

life insurance


It’s said that the best thing you can do for your family is not to make them feel the loss even when you’re no more. Losing a loved one can alter family members’ lives like never before. They lose their loved one’s moral and financial support. Yet, you can ensure that your family gets financial support by choosing a life insurance product. Almost every UK citizen is getting his or her life covered to protect against unforeseen events. It’s wise to get it early on as life cannot be predicted. It’s never too late to think about our family’s future.



Life insurance acts as a financial support for your family after you die. Most often, family members are dependent on a single breadwinner and are devastated when that person is no more. If your children or partner are dependent on you for their living expenses, you should definitely buy a product that covers your life.

There are many insurance companies like Aviva which is well known all over Europe for their life insurance policy. It is beneficial for your children and wife as it pays them a lump sum or regular payments if you die.

life insurance

You should check whether your employee package includes ‘death in service’ benefits, in which case you might need just a top-up on the already existing insurance. If you’re young and healthy, life cover provides good value for money. However, it only covers death and not unemployment due to illness or disability. If you have an existing medical condition before you apply for a cover, it may come only at a high cost.



Getting a life cover is always a good thing to do if your partner, children or relatives depend on your income to cover mortgage and other living expenses. Even after you die, your partner has to live their life, your children have to get a good education and a well-paying job. Life insurance provides for your family in the event of your death, so that they are not affected financially. The amount of money paid out will depend on the amount of total premium you will be paying. You can either opt for a full payment in lump sum or monthly payments that cover mortgage or rent. You may not need it if you’re single, your partner earns enough for a living or you’re eligible for state benefits.



They are of two main types:

  • Term insurance policy: They run for a fixed period, say 5, 10 or 25 years. They pay out only if you die during the term of your insurance policy. There’s no lump sum coming on the maturity of the policy.
  • Whole-of-life policy: They will pay out whenever you die, as long as you are keeping up with the premium payments.



 How much a death cover will cost you may vary as per your level of protection. There are low as well as high premium options, so it’s a good idea to shop around. The price you pay depends on your

  • Age
  • Health
  • Lifestyle
  • Whether you’re a smoker or non-smoker
  • Length of your policy
  • The amount you want to cover


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What Are Easy Loans?

Easy Loans

easy loans

What Are Easy Loans?

The loans which are easily available to the borrowers are easy loans. We can name these loans as quick loans or little loans too. These loans are easy because they have fewer formalities to follow by the borrower. In most of the cases, a lender does not perform a credit check for the borrower. Also, only the basic information of the borrower can help him to get the loan. As you know, we know these loans as unsecured personal loans. Since these loans are with small loan money, you call them as easy loans. As per a survey, we can find these loans online without any hassle.

How to Get Easy Loans?

Apparently, these loans are available online. You can apply online by filling up online loan applications. This application consists of your name, address, date of birth and employment details. Once you fill up the information, a lender verifies it. also, if he finds it within his criteria, he approves the loan. If the lender disapproves the loan, he notifies the customer by an email and text. If the borrower gets an approval for the guaranteed payday loans. He receives the loan in his bank account by the lender. Hence, these small money loans do not need any guarantee or security to get the loan.


Advantages of Easy Loans:

Basically, these loans have plenty of advantages and disadvantages. But a borrower seems satisfied getting these loans because-

  • Overall, these loans are really quick to get. So, you can plan anything random. It helps you to meet your financial needs soon.
  • Interestingly, a borrower does not have to arrange any security to get a personal loan.
  • Of course, this loan has fewer formalities and documentation. You may get the loan money same day in your account.
  • Most noteworthy, people with bad credit rating may also get these loans. As it does not perform any credit checks during loan approval.

easy loans

Cautions for Easy Loans:

As we know, these are payday loans with a little amount. So people generally do not make a good comparison of the rate of interest before taking it. Likewise, there are loan sharks in the market who approve these quick loans on very high-interest rates. so, a borrower has to be really cautious taking these loans from any broker, middleman or a loan shark. In addition, he should make the timely payments on the loan to pay it off the soonest.

Hence, these loans are easy to get. If you are looking for one, we can surely help you here.


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Different types of loans

Types of Loans

Types of Loans

When it comes to borrowing money, people in the UK have a ton of choices to go through. There are banks, lenders and other financial institutes that provide different types of loans to people who are in need of urgent money.

There are different types of loans when it comes to borrowing a small amount of money like small loans, no guarantor loans, 6 month loans, etc. But if we have to narrow down all of these loans, there are two types of loans –

  • Secured Loans
  • Unsecured loans

These two loans are further categorized into different forms of loans which people can borrow from according to their need. Let us look at the various forms of loans that people can borrow from.

types of loans

Different forms of Secured loans

Secured loans are loans which people can borrow against an asset. The asset can be a house, a car, jewellery or any other valuable item. The asset is a collateral which the lender can take away if you miss your loan repayments.

Mentioned below are some of the secured loans which you can borrow –

Mortgages and Second Mortgages

Mortgages are basically loans that you can borrow to buy a house. In this type of secured loan, your house acts as a collateral. So when you miss few of your monthly repayments due to any reason the lenders can take away your house and sell it to get their money back.

Mortgages and Second mortgages are a long-term loan which can run up to 35 years. The interest rates are fixed or can vary depending upon the mortgage you choose.

Homeowner Loans

A Homeowner loan is a form of a loan which you can borrow against your house. The amount that you can borrow depends on the value of your house. It also depends on various factors such as your credit history, income, any ongoing loans, etc.

These loans have a term up to 20-25 years. Interest rates that are charged are fixed throughout your loan term. However, if you miss repaying this loan, the lender can repossess your house if there isn’t any option left.

Logbook Loans

Logbook loans are loans which you can borrow by keeping your vehicle as a security. It can be a car, a van or a motorbike. Just like in the homeowner loans, the amount which you can borrow depends on the value of your vehicle.

The repayments of the logbook loan can be done in a time period of 2 to 15 years. Interest rates are fixed and do not fluctuate during the loan term. If you default on this loan the lenders can seize your car.

Pros and Cons of Secured Loans


  • Secured loans have low-interest rates compared to unsecured loans
  • You can borrow a hefty amount when it comes to these loans
  • The loan term is long, it helps you to make your monthly financial plans for the future
  • If you have a poor credit history you can borrow a secured loan unlike personal loans which require a good credit score to get your application approved



  • Your asset is at risk if you miss your loan repayments
  • Though the interest rates are low, they are not fixed, they can vary during your loan period


Different Forms of  Unsecured Loans

Unsecured loans are loans which do not require an asset as a collateral to borrow money. Most lenders nowadays are providing these loans to people who have a poor credit history. They are mostly targeted to the people who need a small amount of money and don’t have any asset to keep as a security.

Mentioned below are some of the unsecured loans which you can borrow –

Small Loans

Small loans are short-term loans which are usually of very low value. With these loans, you can borrow up to £3,000. You do not have to necessarily have a good credit background in order to get this loan.

The interest rates are higher and the loan has to be repaid within a few months (1-12 months).

Payday Loans

A Payday loan can be borrowed from lenders for a month. You have to repay these loans on your next payday (next monthly wage). The amount you can borrow is very low, you can get credited up to £1,000.

There are not any interest rates charged on a payday loan. You just have to pay a fixed fee for a month irrespective of the amount you borrow.

No guarantor loans

A guarantor(Co-signer) is someone who can vouch for you if you default on your loan. But not everyone is ready to back you when you are in need of urgent money. In a situation like this, you can opt for no guarantor loans which do not require a co-signer to get your loan approved.

These loans are basically like small loans where you can borrow up to £3,000 and repay it between the time period of 1 to 12 months.


Pros and Cons of Unsecured Loans


  • It helps you to borrow what you want instead of going for a large amount
  • No paperwork
  • The application process is easy and you can get the loan amount within a few minutes of submission
  • You can borrow a small amount even if you have a bad credit score



  • The interest rates are higher than secured loans
  • The time duration is less to make the repayments for these loans. So it’s for your own good that you borrow these unsecured loans only if you can afford it.


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How to Get Secured Loans for Bad Credit?

Secured Loans for Bad Credit

Secured Loans for Bad Credit

Can you get secured loans for bad credit?

Apparently, secured loans are the loans which you take keeping some security. This security or guarantee may be collateral or valuables of an individual. There are lenders in the market who can provide secured loans against bad credit too. A borrower has to have some concrete guarantee to secure against the loan. This could be a house, car, any established business or may be any establishment. As we know, there may be many reasons for a bad credit. For example, if someone has not made any financial transactions in his life, he may have a bad credit too. A lender or a bank can give loans to such bad credit holders.


How to get secured loans for bad credit?

As a process, a borrower has to apply with multiple lenders to get a no-obligation quote, know more on how much can I borrow mortgage. This quote helps him to decide on the best rate of interest. Since a borrower has a bad credit rating then the proposed rate of interest may be higher than a normal rate. A borrower fills up the loan application to get such free quotes. He has to have all the employment details and guarantor available after applying. A credit check by the lender decides the exact credit status of the borrower. But in every case, it is very much possible to get secured loans for bad credit.


Secured Loans for Bad Credit

Benefits of secured loans for bad credit:

Interestingly, there are various benefits of secured loans for bad credit. Some of them are:

  • A borrower gets a loan even if he has a bad credit rating. He does not have to sell off any property or valuables to get any loan.|
  • As a result, a lender gets an opportunity to earn by charging a high rate of interest due to bad credit rating.
  • In fact, a borrower gets a chance to improve his credit rating by paying off the loan within time.


Cons of secured loans for bad credit:

There are a few disadvantages of secured loans for bad credit. For example,

  1. A lender may seize the property kept as the guarantee if you do not pay off the loan within time.
  2. In addition, A borrower may get a disapproval for the loan in absence of the collateral for a secured loan.
  3. A borrower may get a denial for the loan because of his bad credit rating.

So, if you are looking for any secured loan and you hold a bad credit rating, you do not need to worry. You may get a loan for sure.


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Personal Contract Purchase (PCP)


Personal Contract Purchase (PCP)

personal contract purchase

Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) is a car finance in which you can hire a car from the lender or the dealer. For that, you have to make an initial deposit of 10% of the car’s value, only after making the deposit you can get the car from the dealer or lender. The rest of the car’s value you can pay by selecting a time period of 2 to 5 years. Make sure you choose a term which suits you and whose repayments you can afford. In PCP you won’t be the rightful owner of the car during your repayment period

The amount that you will have to pay monthly will be agreed upfront with the lender or the car dealer. Remember that you won’t be paying the full cost of the car like you do in hire purchase car finance. You will be paying lower payments than hire purchase if you want to hire the car and not purchase it.


Options At the End of the Contract

At the end of the personal contract purchase (PCP) agreement, you are left with 3 options from which you can select any one.

Exchange the car for a brand new model

Most people go for PCP because of this option. If you choose to exchange at the end of your contract be sure that your car is in good condition. If the condition of your car is good, the dealer will accept that instead of a deposit amount for your new car.

Return the car back

At the end of the contract, you can return your car to the dealer. When you do that the car is inspected by them to see if there’s any damage. If there is you would be needed to pay for those damages. Also, they could charge you extra if you have exceeded your mileage allowance.

Purchase the car

If you decide to purchase the car, you would be needed to make a final payment. This payment is known as a balloon payment and is decided at the time of your agreement. This amount is basically your car’s worth at the end of your contract.

personal contract purchase

How much can i borrow for a new car?


Pros and Cons of Personal Contract Purchase (PCP)


Low monthly payment – The monthly repayment is lower compared to HP as the repayment is decided on the car’s value over time and not the purchase price.

Protection from any loss in value of the car – You are guaranteed a certain amount of what your car’s worth will be at the end of your contract. If it turns out to be low, you can return the car without making any further payments.

You can change the car in every 2 to 3 years – If you want to use a different car and not settle for just one car throughout your life, PCP is the right choice for you.



Not legal owner – You don’t get to own the car until you make the final balloon payment

Mileage allowance – There is a certain mileage allowance that is provided in your contract. If you exceed the allowance you could be charged with a penalty unless you own the car at the end of your contract.


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What Is Hire Purchase?


Hire Purchase

hire purchase

Hire Purchase (HP)

Hire purchase is a type of car finance in which you can hire a car by making a small deposit and buy it at the end by making monthly payments over a period of time. The deposit that you have to pay is usually 10% of the car’s value. For, example if the car’s value is £10,000 then the deposit amount will £1000. The rest of the amount you have to pay over 2 or 3 years according to your agreement. After, making the repayments, you have to make a final payment which gives you full ownership of the car.

You can pay more deposit if you want, if you do so you will be charged with low monthly payments. So, higher the deposit amount, lower will be your monthly repayment amount. This will help you to get the ownership of the car earlier than normal.


Who Offers Hire Purchase Car Finance?

There are a number of finance companies in the UK that offer their services if you want to buy a new car or a used one. Also, the dealers themselves also provide you with hire purchase contracts.

However, it is important to shop around, as not all the lenders provide a loan for a used car. Also, the cars on which they provide a loan can be limited. So find a finance company or a dealer who provides you with an affordable deal on your dream car.

hire purchase

How Much Can I Borrow in Hire Purchase?

The most common and favourite question of everyone is “How much can I borrow to buy a car?”. This depends on the car you want to buy and your credit rating. If you have a bad credit rating the finance company can provide you with a loan. But they might take away your car if you miss your monthly repayments.


Advantages of Hire Purchase

  • Hire Purchase car finance allows you to spread the cost over years instead of paying all the money upfront. This is beneficial for people who do not have a lot of money in savings but want to purchase a car.
  • The finance company charges low interest rates on this finance, and also they are fixed and do not change during your contract term.
  • When it comes to HP, there is no mileage allowance or restrictions whatsoever. You can drive your car as much as you want without worrying about the distance you covered.
  • A hire purchase car finance has a low final settlement fee for buying the car in the end compared to the other car finance options.


Disadvantages of Hire Purchase

  • In hire purchase, if you fail to keep up with the payments, you risk losing your car. The finance company can take away your vehicle if you miss your few monthly payments.
  • The monthly repayment amount tends to be more than other forms of car finance like PCP (Personal Contract Purchase).
  • You face the risk of depreciation more than the PCP, as buying the car is optional in PCP finance. In HP car finance you have to buy the car at the end even if its value decreases.


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What Are Secured Loans?

Secured Loans

Secured Loans

Secured loans are loans which you can borrow from a lender against your asset. The asset can be anything like a car or your house. These loans are cheaper than unsecured loans as you are providing an asset as a security, this is less risky for the lenders. However, if you fail to make your repayments on time or miss any, you are risking your house or a car. Your asset can be at the risk of repossession, so be sure that you can afford the repayments of secured loans.


How Much Can I Borrow with Secured Loans?

How much can I borrow with secured loans” the most important question that comes in your mind when applying for a loan.

With a secured loan, you can borrow any amount from £10,000 to £500,000. However, it also depends upon the value of your asset, such as your car or a house. Depending on it you can borrow a secured loan.

People can make use of secured loans for any expenses like house remodelling(renovation), to buy a car or any other major expense. This loan can also be used for consolidating your debts from any other form of borrowing. You can consolidate your unsecured loans, credit cards, etc.

secured loans

Why Should You Apply for Secured Loans?

Go for secured loans if you want to take care of any major expense. You should apply for these loans, because with them;

  • You can get lower interest rate compared to the unsecured loans
  • You’ll be able to borrow a large sum of money
  • Even if you have a bad credit score you can borrow secured loans as you are providing an asset as collateral
  • You have a lot of time to pay the loan easily without missing on any instalments


Risks of Secured Loans

Do not miss any repayments of a secured loan. If you due to some reason fail to make repayments for several months, you are putting your house at risk of repossession. If nothing works, the lenders have no option but to seize your car or house whichever you have borrowed a loan against.

Secured loans have variable interest rates. Your interest rate may increase if the lender decides to increase his base rates. So, you should keep this in mind whenever you are applying for this loan.

There are additional charges and fees that you need to pay for getting secured loans. It can be – clerical fees, administrative fees, broker fees and any other charges or fees that are required to borrow a secured loan. So, keep this in mind when applying for a secured loan.


Whenever you go for a secured loan, be sure you understand all the terms and conditions of the loan agreement before accepting it.


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What is a 12 Month Loan?

12 Month Loan

12 Month Loan

A 12 month loan can be described as a small loan which you could borrow and pay off in a year. These loans usually run for 12 months so the name.

A 12 month loan can be used for some unexpected expense. For these expenses, you don’t have any money kept aside in your monthly budget. So if that expense needs a minor financial help you go for a small loan like a 12 month loans. This helps you to go for something that you can afford instead of long-term loans which go on for years.

For example, you can make use of a 12 month loan in situations like house repair (ceiling fixes, or new door lock installations), car servicing or repairs, kid’s project or some bills which you need to pay off. Situations like this do not require a large sum, so this small loan could be more comfortable for you.

12 month loan

How Much Can I Borrow in a 12 Month Loan?

Now you know what a 12 month loan is, but the main question which lurks in your mind is “How much can I borrow?”

In a 12 month loan, you can borrow a minimum of £200 and a maximum of £5,000. Many lenders provide an instant loan, and also with low APR. Some of them charge an APR as low as 2.97%. However, the APR differs with people and their credit score.


Can I Borrow a 12 Month Loan for Bad Credit?

Yes, you can get 12 month loans bad credit. It does not matter if you have a poor credit or no credit at all, you can get a loan. However, the APR will be high for you because of the bad credit. Lenders now also don’t look for a guarantor if they want to lend you a loan for poor credit. So, it makes easy for people who have a poor credit and no guarantor to borrow a 12 month loan.

The lenders will provide you with an amount on the basis of your credit score and how much you will be able to afford. They will see to it that you don’t get an amount of which you can’t make monthly repayments.


How Can I Apply for a 12 Month Loan?

Almost everyone is eligible for a 12 month loan in the UK. However, there are certain criteria that you need to fit in in order to borrow. The criteria are as follows;

  • You must be employed and have a source of income
  • Your age must be between 18-65
  • You must have an active UK bank account

If you fit the above criteria, you can get a 12 month loan easily. All you have to do is fill in the application form on the lender’s website. After filling in the form just click the submit button and the lender will contact you with further details.


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What Are Unsecured Loans?

Unsecured Loans

Unsecured Loans

Unsecured loans are loans that one can borrow without the support of any asset. It is basically given depending upon your creditworthiness.

Unsecured loans are also known as signature loans as you don’t have to provide an asset like a house or a car for the loan. Though people can borrow an unsecured loan if they have a good credit score, there are lenders who provide loans to people with bad credit as well.

An unsecured loan can be borrowed if your requirement for money is short. Like secured loans, you cannot borrow a large amount of cash when it comes to unsecured loans. So the question is “How much can I borrow?

The plain and simple answer to that question is £50 to £5,000. Though it may differ for different lenders.

unsecured loans

Pros of Unsecured Loans

The application process is simpler

When it comes to applying for unsecured loans, the process is simple and fast.  Most of the lenders accept applications online. You can just visit their website and fill in the form. Do not provide any wrong information as it may decrease your chances of getting a credit.

Lenders transfer the money to you within a day or less after the unsecured loan is approved.


No risk of losing your property

In unsecured loans, you do not provide an asset as a collateral like in secured loans. In secured loans, if you default on your loan the lender can take your house or the car away from you.

But in an unsecured loan, you are not at any risk of losing your asset as you are not getting a loan against it. If you default on the loan, you can be charged additional fees but there’s no risk to property.


Can be used for minor financial issues

Unsecured loans can be used for small financial need like vehicle repairs or servicing, medical or phone bills, house modifications, etc. As the money requirement is low for these situations, going for secured loans is not a good option as the money you borrow is more than you actually need.

So unsecured loans can help in this situation where the money required is small and the loan duration too.

Cons of Unsecured Loans

Higher interest rates

As the loan you are getting is not backed against any type of asset, the risk for lenders is huge. They may lose their money in return for nothing as they don’t have anything as a security. So because of this sole reason, the interest rates on unsecured loans are high than any other form of loans.


The loan amount can be smaller

When it comes to unsecured loans, the loan amount is not huge. Though it is used for minor financial fixes, sometimes it may not what the borrower was looking for. As the lender is at risk here, they provide what they think you can afford to repay them back. So sometimes it may not be enough for your particular financial need.


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What do you mean by Interest Free Credit?

Interest Free Credit

Interest Free Credit

Interest Free Credit

A small loan or finance where a borrower does not have to pay any interest is interest free credit. Credit union, government and many lending institutions give interest free credit. There are many factors involved in getting a good deal of interest-free credit. FICO score of an individual is one very important factor to get such offers. A borrower may get an interest free credit for purposes like home improvement. Also, car finance, holidays, purchase of gadgets or many more. Interest -free credit gives a stress-free finance to the borrower. Also, he pays the monthly instalments to be loan free after a fixed term.


How to get interest free credit?

First of all, a borrower has to apply online with different lenders. In order to apply one has to fill up the online form. Name, Date of birth, Address, FICO score, loan amount are some important information. After filling up the form, a creditor verifies the information. A lender checks the credit score to see the credit rating of the borrower. If everything seems to be fine. A limit of loan gets decided for the borrower. Similarly, a borrower can mention his loan requirement. In the state of approval of the loan, loan money gets transferred to debtor’s account. In the state of disapproval, a debtor gets notified by an email or text. Hence, a process of interest free loan gets completed.

Interest Free Credit

Who may all get interest free loans?

An interest free loan is a finance where an applicant has to pay only the processing fee to get the loan amount. Certainly, it is very nominal. A citizen of the country may have a FICO score from 1-999. where 1 is the least and 999 is the highest. Credit ratings can vary from outstanding or excellent, very good, good, fair and poor. An applicant who holds a credit rating outstanding or excellent may definitely get an interest free credit. While people with good or fair credit scores may be the receivers of such loans. It is subject to the lender’s terms and conditions. Those who had taken any loan before and made the payment within loan term have a good credit history.  Also, they have bright chances of getting an interest free finance.

Above all, credit unions, government banks and direct lenders welcome such profiles. Profiles which has an excellent credit history. They may get good offers of interest free credit. If you also would want to apply for such offer, you may try with us.


Read more:
Car loans for people with Bad Credit