Lemon Loans UK - Case Studies
For further information call now on 0151 286 2543 or 07852 576301
Example 1
Take a look at this example of a client that we recently helped to consolidate debts.
Mr and Mrs Mills had the following financial commitments:
- Bank loan £5000
- Joint credit card balances £5700
- Car finance £7800
- Store cards £500
- Total amount of unsecured debts - £19,000
- Total monthly repayments - £814
Mr and Mrs Mills were finding the total monthly commitment of £814 difficult to manage and they also wanted to borrow some additional money to complete some home improvements.
A new loan of £25,000 was arranged and secured on the equity in their home. The new monthly repayment over 120 months was £336.33, giving a total amount repayable of £40,359.60 at 10.9% APR typical variable. In some cases a fee may be charged, currently our average fee is £599.
This gave an initial saving of £477.67 per month, which gave Mr. and Mrs. Mills the breathing space they needed to improve their quality of life with their extra income available each month, and the money to finish the home improvements.
Please contact us directly for further information about secured home owner loans.
What you need to know about credit scoring
Before you are accepted for a loan, the provider will often produce a credit score to see if you are able to pay back the loan - this article covers the factors that are taken into consideration, and how to ensure you keep a good credit score for future purposes.
It is crucial for one to learn what credit means and how it is determined that a person has "good" or "bad" credit. One of the reasons this is so important is because a person needs to know how to improve/maintain their credit so that borrowing and purchasing become easier.
There are companies that make it their business to know everyone else's business. These companies keep track of everyone's payment history, which includes if a payment for any bill has ever been late. It will also keep track of any loan defaults, bankruptcies or other indications that a person has trouble with finances.
This, coupled with an income to debt comparison, is what make up a person's credit score. One should be aware of their credit score, as it is crucial in purchasing a home, getting a credit card, getting a loan or even getting a job. You can get your credit record by clicking this link........
Lemon Loans UK - Secured Loans from £10,000 to £250,000 - call now on 0151 286 2543 or 07852 576301