1 / 10

True Blue Loans

Care must be taken when looking for a loan. Not all lenders are equal or the same. http://www.trueblueloans.co.uk

jolie1
Download Presentation

True Blue Loans

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. True Blue Loans What to look for when borrowing money

  2. What to look out for when borrowing money • Care must be taken when looking for a loan. Not all lenders are equal or the same. • We have put together a short presentation to highlight some of the things to look out for when borrowing money.

  3. 1. Regulation • Anyone lending money in the UK must be regulated by the FCA. • The FCA have strict rules that are there to protect you the consumer. These rules include a maximum amount of interest that can be charged and other important protection measures. Do not borrow from anyone not regulated.

  4. 2. Payday Loan or Instalment Loan • If you take out a payday loan you need to be able repay the loan on your next payday. So care must be taken to ensure that you can afford to pay the capital and the interest in one go. • An installment loan will be spread over multiple months, anything from 2 to 25 years (a mortgage is an installment loan).

  5. Only borrow what you need • Don’t be tempted to borrow more than what you actually need. • Some lenders will upsell you. If you ask for £100 and they think you can afford £200 they will offer you the £200. • It is easy to lose control and borrow too much.

  6. Never borrow to repay another loan (unless the interest rate is less) • It may be tempting to take out a loan to repay a different loan but this is a really bad idea. • It is easy to end up paying interest on multiple loans and end up with a serious debt problem. • If you can’t afford to repay a loan speak to the lender and ask for a repayment plan.

  7. Wealth Warning

  8. True Blue Loans • This information is brought to you by True Blue Loans • www.trueblueloans.co.uk

  9. For more information continue reading: www.trueblueloans.co.uk

  10. Thank You

More Related