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Personal Loans

Personal Loans

Welcome to the Guru’s guide to personal loans, a one-stop shop for everything you need to know. From in-depth guides to all the different loan types, reasons for loans, the legal side and things you need to watch out for, you’ll find it all in our expert hub.

Ready to open the doors to the world of personal loans? Find everything you need to know using the ever-so-handy links below.

Compare Personal Loans

What is a Personal Loan?

A personal loan is a type of loan used for various personal circumstances. This could be for home improvements, a new car, an unforeseen expense, or to pay off existing debts.

Which Personal Loan is Best for Me?

Personal loans come in many different shapes and sizes. Each type is generally named after its features. For example, an unsecured loan is not secured against your assets, whereas a secured loan is.

There is also crossover between loan types, so a short term loan may be called a payday loan, or another type of loan with a short term of payback.

Why Take Out a Personal Loan?

There are lots of reasons why you may be considering a personal loan, and lenders will usually need to know what the loan is specifically for. Popular reasons for taking out a loan can be found below.

Remember that these combine with the types of loan above, so you may be able to get a loan for home improvements that is either unsecured or secured, depending on the amount required and your personal circumstances.

Alternatives to Personal Loans

  • Credit Card
  • Overdraft
  • Mortgage Refinance
  • Pay Advance
  • Budgeting Loan
  • Local Welfare Assistance

Depending on your situation, a personal loan may not be the best financial option for you, so find our guide to alternatives through the link above.

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Updated on 5th September 2017