Short term loans
Warning! Stop! Please do not take out short term loans without reading this article. There are plenty of good reasons to use short term loans, but pitfalls as well. We will go through all of the good reasons as well as problems associated with short term loans in the UK and try to find the best rates and deals online to help you.
Short term loans have been on the rise for many years now and typically range from 3 months up to 18 months depending on what deal is agreed with a lender. They differ from payday loans in the sense that its expected a payday loan will be repaid far more quickly. There’s certainly merits to making quicker repayments. For a start you’ll reduce the overall amount of interest that you pay which is always going to be good for your finances. The most important thing to remember with any loan, not just a short term loan, is that you want to make repayments comfortably and easily without stretching yourself, especially if it’s a bad credit loan interest rate. This is especially important to maintaining a comfortable life and should be factored into any credit decision you choose to take when you borrow money.