Compare Virgin Money Personal Loans

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Virgin Money Personal Loans

When you are looking for a personal loan you may see different features advertised, you may wish to consider what features are important to you, some features you may see advertised could include:

• Fixed rates
• Options to take repayment holidays
• Options to repay the loan early or make overpayments
• Same day payment
• Instant decision

Types of loan

• Personal Loans – Also known as ‘unsecured’ loans are a type of loan that typically allows you to borrow up to £25,000 over a variable time period. Generally speaking the larger amount you wish to borrow the lower the rate of interest, however this does not mean you should take out a larger loan you cannot afford to service or repay. This type of loan does not require you to put up your home or other asset as security on it.
• Homeowner loans – Are only available to property owners. Also known as ‘secured’ loans which mean lenders require the borrower to put up an asset such as their home as security against the loan. The amount a borrower can borrow with this type of loan is dependent on the value of the property used as security as well as their credit score and other financial circumstance. It’s important to carefully think about this type of loan first as failure to keep up with repayments on a homeowner loan could result in your home being repossessed.

Before you apply for a loan

There is a diverse range of loans available on the market from numerous different providers so it’s a good idea to shop around beforehand to try and find the best plan for your specific needs.