Driving Loans

Things to think about

How much do you want to borrow?

Before applying for a loan you should work out how much money you need. Think carefully about any other borrowing you already have, such as home improvement loans, other types of loans and debts on credit cards for example. Loan companies will ask you about these when you apply for a new loan and use the information to decide how much you can afford to repay.

How much can you repay each month?

Loan providers are obviously very careful when approving loans, making sure that people have enough income to be able to afford the loan repayments. Take time to understand your household income and outgoings, and only take on a loan if you can easily afford to repay it.

Do you have an existing mortgage on your home?

If you already have a mortgage, you are going to be eligible for both unsecured and secured loans. Secured loans use the equity in your property to provide loan companies with more security, allowing them to approve larger loans, over longer repayment periods and often at lower rates of interest.

What is your credit record like?

When you apply for a loan, your credit history will be looked at by all the companies you apply to. They do this to help them decide whether to approve your loan, how much they can lend you and what interest rate they need to charge. Just because you have a poor credit record that doesn't mean you won't qualify for a loan. Many mainstream lenders are likely to turn you away, but by applying for a loan on this site, we'll put you in touch with lenders who specialise in helping all kinds of people, including those with poor credit records.