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Guides to Personal Finance

These short explainer videos cover the numerous credit and finance options we offer. Jump to what interests you most, or simply scroll down to explore them:

Unsecured Loans

Guarantor Loans

Have High Street banks and building societies been rejecting your applications for a loan? Then blame computer credit scoring. But what’s the solution? You need a lender who sees your social network as more important than your credit history. If you have a close friend or family member who’ll guarantee your loan repayments then there’s almost certainly a lender who can help. Solution Loans offers a free enquiry service to help you find a loan of up to £15,000. If your friends trust you, our lenders will too.

We have more information about how to get a guarantor loan.

Bad Credit Ratings

Having a bad credit history doesn’t necessarily mean you can’t get credit. Solution Loans works with all sorts of specialist lenders and credit companies. Our “Find a Loan” tool can help you discover what loan options may be available to you if your credit is less than perfect. These may include Doorstep Loans, Guarantor Loans, Logbook Loans, Homeowner Loans, Car Finance and Credit Cards. Any credit will still depend on affordability checks. Take a look at our “Find a Loan” tool to check out your loan options.

So, how do you go about improving your credit score? Pay your bills on time; Don’t miss payments or default on debt; Pay off your credit card bill in full each month; Don’t change address or job too frequently; Honour repayment schedules agreed for previously defaulted debt.

Get started cleaning up your credit history today – and in the meantime don’t forget, you may still be able to get credit. Discover your loan options by using our “Find a Loan” tool NOW!

By the way a guarantor loan is a very useful type of bad credit loan.

Personal Loans

Personal loans are unsecured loans. This means you don’t have to provide any security, such as your house, car or jewellery. Which is great. Instead the amount you can borrow and how much it costs depends on your personal circumstances and your credit history. At Solution Loans we have access to a wide range of lenders offering up to £25,000 or more. It doesn’t matter whether your credit history is perfect or less than perfect. We could well have a lender who can give you what you need. To apply for your unsecured personal loan complete the quick and simple form. We, or one of our trusted partners, will instantly let you know what loan offers are in principle available to you. If you have a particularly bad credit history then a specialist type of unsecured loan called a guarantor loan may suit you.

To find out more about personal loans visit our main Solution Loans site here.

Instalment Loans

If you are one of the millions in the UK who have used a payday loan then you’ll know how much worry their repayment can cause. Well instalment loans aim to solve this problem by spreading out repayments over a number of months without the risk of extra fees and charges. Not only can you borrow over a longer period than you can with a payday loan but you can also borrow more, subject to affordability. Instalment loans of 12 months and under are protected by rules that limit the cost of credit and the size of fees. However, they are still a relatively expensive way to borrow. There may be cheaper and more appropriate forms of borrowing available to you. To find out if this is the case try our “Find a Loan” tool”. If you do choose to use an instalment loan then keep in mind that most lenders will allow you to repay the loan early to help reduce the total cost.

To find out more about instalment loans visit our main Solution Loans site here.

Small Loans

Payday Loans

Unfortunately the reputation of payday loans has been damaged by irresponsible lenders. Thankfully new rules are cleaning up the industry. Gradually payday loans are becoming the proper short term borrowing facility they were originally meant to be – something to be used only very occasionally to cover an unforeseen financial circumstance. With limits on the cost of credit and mandatory affordability checks you can have more faith in payday loans and payday lenders than ever before. Solution Loans works with a leading edge payday technology partner. This way your enquiry has the best chance of finding a decent payday lender. And, as ever, technology means you’ll instantly get an answer and your loan is only moments away. But before you take out a payday loan check it’s the right solution for your needs. It’s important to match your loan to its intended use. Use the Solution Loans “Find a Loan” tool to discover other options.

To find out more about payday loans visit our main Solution Loans site here.

Doorstep Loans

If you need a small cash loan of up to £500 then a so-called “doorstep loan” may suit your needs. These loans are organised on a face-to-face basis with agents working for well-known specialist home credit companies such as Provident and Morses Club. This type of loan has been around for over 100 years and literally millions of people have borrowed in this way. Properly called home credit these cash loans are also sometimes known as doorstep loans, loans at home, home collected loans or door to door loans. Solution Loans works with the major doorstep loan brands. To get a cash loan simply make a quick online enquiry. You don’t need a bank account, you don’t need a debit card and you don’t need a perfect credit history! If the lender believes they can help they’ll arrange for a friendly agent to visit you at home. They give you the cash you need and then make weekly visits to collect a repayment. Weekly repayments are set at low, manageable amounts and for extra peace of mind they don’t charge any late repayment fees. What you pay is what you agreed to even if it takes you a little longer than you wanted. So, let Solution Loans help you get the small cash sum you need to see you through.

To find out more about doorstep loans visit our main Solution Loans site here.

Secured Loans

Homeowner Loans

Secured loans are loans secured on your home. The great thing about a secured loan is that you can typically borrow more and pay a lower APR% than with an unsecured loan. It’s also possible to repay the loan over a longer period which can help to make the monthly repayments more affordable. We believe in giving you the widest choice of secured loan solutions. So, we’ve partnered with the UK’s largest and most respected secured loan broker to do just that. Use our free enquiry service to find the loan you need. Between them our lenders offer hundreds of loan plans covering an enormous range of loan sizes and credit histories. In fact loans in excess of £250,000 are available although the typical loan is around £25,000 to £30,000. To apply for your secured loan complete the quick and simple form. We, or one of our trusted partners, will instantly let you know what loan offers are in principle available to you.

To find out more about secured loans visit our main Solution Loans site here.

Mortgages/Remortgages

Your mortgage is probably your largest monthly household expense. You’ll always want to make sure you’re paying as little interest on your mortgage as possible. You may also wish to increase your borrowing to capitalise on the growing value of your home. This could be to make profitable home improvements, or it could be for something else altogether. If you’ve decided that now is the time to remortgage then there are numerous options. For instance:

  • Repayment periods can now be as short as 5 years or exceed 35 years.
  • Fixed or variable rates are available.
  • Special deals designed for those with credit problems.

We’ve teamed up with an FCA authorised broker to provide a fast and free remortgage quote service. Together we can help you find the optimal deal to suit you no matter what your situation or needs. Use our free and easy enquiry service and discover who’s waiting to offer you a competitive mortgage that’s just right for you.

To find out more about remortgages visit our main Solution Loans site here.

Equity Release

Equity release has grown significantly in recent years. It appeals to homeowners approaching or already in retirement. It’s a tax free way of unlocking the cash value of your home while still living in it. Equity release is basically a mortgage that isn’t paid off until you die. While it will give you more money with which to enjoy your retirement it will mean that there is less for your family to inherit. There are two main forms of equity release:

  • A Lifetime mortgage – for those aged 55+. You borrow a portion of your property’s value either as a lump sum or on drawdown. You pay interest on the amount borrowed but this can be added to the debt.
  • A Home reversion plan – for those aged 60+. The lender takes a % share of your home in exchange for a lump sum. After you die the house is sold and the lender receives its % share of the sale value.

Always take great care entering into any equity release arrangement. There may be other more cost effective ways to meet your financial needs. Find out more at our website where you can also request a free quotation.

To find out more about equity release visit our main Solution Loans site here.

Logbook Loans

Logbook loans allow you to borrow money against the value of your vehicle. This may be an option worth considering if you have a less than perfect credit history. You will be credit checked but you could still get your loan within hours of applying even though it is secured on the value of your vehicle. Does this sound like an easy option? Well, keep in mind the following:

  • You risk losing your vehicle if you don’t keep up the repayments
  • The cost of a logbook loan may be higher than some other options

If you are still interested then how do you go about obtaining one?

  • Choose the lender with care. We have teamed up one who has a good reputation.
  • Show the lender you can afford the repayments
  • Provide the lender with the vehicle’s V5, MOT and insurance documents
  • Show the vehicle to the lender at one of its branches
  • Read the loan agreement carefully – if you are not happy, then walk away before signing!

To find out more about logbook loans visit our main Solution Loans site here.

Other Finance & Credit

Car Finance

If you need to replace your car or other vehicle then two popular forms of car finance are hire purchase (HP), and personal contract purchase (PCP, a form of leasing) . Under these options the finance company owns the car while you make the regular payments. So, what’s the difference between them? With HP you are working to towards final ownership of the car. With PCP you can delay the decision to own the car until the very end. In fact with PCP there are 3 final outcomes to choose from:

  • Hand the car back with no further costs
  • Part exchange the car as part of a new PCP deal
  • Purchase the car outright with a final “balloon payment”

If you have no desire to ever own the car then a car lease deal (either a PCP or personal contract hire PCH arrangement) could be the most cost effective way of getting a new car. Also keep in mind that choosing a car brand that depreciates more slowly could also help to keep your monthly costs down – after all with a long term rental/car lease what you’re really paying for is the depreciation of the car plus some interest. 

To find out more about car finance visit our main Solution Loans site here.

Credit Cards

A credit card is probably the easiest and most flexible form of borrowing. Using one is like borrowing on an item by item basis. And they come with a host of advantages over cash:

  • You can buy now, pay later and take advantage of interest-free deals
  • Losing one is safer than losing cash
  • You’re legally protected when you make payments of £100 to £30,000.

But the ease of getting and using a credit card is matched only by the ease of getting into financial trouble if you mismanage repayments! To stay in control of your credit card means making sure you repay the full amount each month. You can get the cash flow benefit without paying any interest! However the credit card will take control of you if you only make small monthly repayments. Then your debt will grow month by month. And because interest rates on cards are relatively high you’ll start to be charged large sums of interest very quickly. But if properly managed there’s every reason for a credit card to be in your wallet. Explore numerous credit card options, including those designed to help rebuild your credit rating, by visiting the our website now. 

To find out more about credit cards visit our main Solution Loans site here.

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