Unsecured Personal Loans? Advice please?

Question

When you apply for an unsecured personal loan, do they tend to contact your employer? I would rather my colleagues not know my financial situation thats all! I have previously had one from my own bank and they did not contact my employer.

Also anyone know where the cheapest rate can be found at the moment? And possibly any with three months deferred payments.

Thank you very much.

Answer 1

depending on how much you are borrowing they may just base an offer of a loan on your credit score(if its good all the better)
check out
northern rock
they have low rates
theres also tesco ,egg and loads more
if its more than £5000 you shouldnt have to pay more than 5.5 to 6%
internet loan providers tend to have better rates than the high street so do a search on line and remember to read the small print!good luck

Answer 2

1

Answer 3

Well,let me answer some your questions, Unsecured Personal loan is considered as any type of debt or general obligation that is not collateralize by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment.Moreover it is also known as signature loan which is used buy borrowers in order to buy computers,home improvements etc.Further it is also a loan that is obtained without the use of property as collateral for the loan. Borrowers generally must have high credit ratings to be approved for an unsecured loan. For more information please visit this URL.Hope it might help you.

Answer 4

I very much doubt that they would contact your employer unless you list them as a credit reference. At the most, I think they would just contact them to verify that you are still employed there, and how long you've been with the company. If you can show evidence of that (copies of paystubs, etc) they may not even need to contact them.

I doubt you'll find something with 3 months deferred payments, unless you specifically ask for that. What you might have to do is borrow some extra money, enough to cover those first 3 payments.

And the interest rate will vary based on your location, your credit score, and the terms of the loan. You'll have to shop around to different lenders to find that detail.

Answer 5

Try www.surefirefinance.co.uk they can help with secured and unsecured loans and are vehicle finance specialists, most brokers charge an admin fee for unsecured loans but you should never be charged a fee for secured loans.

Answer 6

They may or may not contact your employer. If they did contact your employer they will not disclose any information regarding your loan as it will breach confidentiality guidelines.

for the second part of your question the best thing is to use an Internet service that compares all the lenders and you can make your mind up
may i suggest this site
alternatively you could use this site
http://www.moneysavingexpert.com/banking
I think you could find something with an APR below 6%
http://www.uswitch.com/Loans/Index.aspx?ref=gotoast%7egoog%7euswitch&i=1

Answer 7

The loan companies only do this to prove that you are in employment and can afford the monthly repayments. They will normally contact the HR office to verify details, and should not be speaking to your colleagues direct.

Answer 8

they will merely phone your employer and ask if you are there to prove you work there wont ask any questions about you as for the best loan go to yahoo finance they provide a list of loan providers and there rates 6.7% 6.9 is more common.

Answer 9

http://www.uswitch.com/Loans/Index.aspx?i=1

Answer 10

they have to verify employment we all go through financial hardships from the richest to the rich and the poorest to the
poor so don't be embaresed and usually with those kinds of loans you get the highest intrest rates so be careful for
predatory lenders and good luck