For well-heeled Brits in search of extra cash, the market has never been better. No longer are personal loans plagued with a ‘rip off’ reputation that always swings in the favour of the lender. In fact, today’s state is the total opposite. So what benefits can you reap from taking out a personal loan? Read on as we explore just how advantageous they can be…
Fierce competition swings personal loans in borrowers favour
Across the UK, increasing competition is driving unprecedented growth within the personal loan market. According to the latest statistics, the demand for consumer loans has skyrocketed by 54% in the past 12 months, with even more growth on the horizon. Now, borrowers can secure personal loans with interest calculated at as little 4.5%.
More borrower benefits
With competition in abundance, lenders are starting to get creative with their plans. This includes rewarding loyal current account customers with preferential rates and offering flexible repayment plans. As a borrower, this gives you the power to choose a loan that offers you serious perks.
Pounds for possessions
When it comes to secure loans borrowers enjoy more benefits than ever. As cash is backed against tangible assets such as a cars, jewellery, art or antiques, securing cash loans from pawnbrokers is fast and easy. The opportunity to prove collateral and use assets as ATMs is a fantastic way for holdings rich individuals to get their hands on quick cash. High end pawn broking companies such as Prestige Pawnbrokers are great options for individuals wanting to secure loans on a myriad of luxury assets. From designer handbag collections, diamond jewellery, high end watches, works of art, antique furniture, rare stamps and more, we can help you turn your chattels into cold hard cash.
In comparison to home and car loans, personal loans require very little in the way of documentation. This means the process is fast and stress free.
Quick cash at your disposal
So what can you use your newly acquired cash for? The latest research from Hitachi Capital revealed that of Brits taking out £6,500 loans over a 45-month period, one in four consolidate their debts while almost 25% channel it into home improvement or a car loan. While these are the most popular uses you can use your cash as you please.
So is a personal loan the solution for you? If you want to find out more get in touch with one of our dedicated customer service members today.