Homeloans or Personal loans at uk

        Home Loans atUK ?

The UK residents can easily take a loan for any like Personal Loans, Mortage Loans, Home Loans purpose in these days thanks to the lenders crowding the loan marketplace. For each specific purpose now there is a loan offer out there waiting to be grabbed. So Home Loans or Personal Loans UK in the UK are popular since they have been highly useful and advantageous as [...]

tips for Homeloans and Personal loans

How To Apply For Home Loans or a Personal Loans.

Is it easy to get a Home Loans or a personal loans? Well, yes and no.

On the one hand, there is less paperwork, since the bank does not have to verify any asset as in the case of home loans. On the other hand, there are stringent income criteria to qualify for personal loans. But once you make the grade it takes only about three days for you to get a Home Loan or a personal loan -a lot less time than a car loan.

So, here goes a step-by-step break-up of the personal loan application process:

Step 1: Enquiry with a financier:

The first step is to get in touch with a lender. How do you know whom you should approach? You need to get in touch with as many lenders as possible and get them to make loan offers to you. Then negotiate with them to get the best interest rate. Check if there are any special offers.

After you have got all the banks to make their offers to you, select your lender based on the information you have in front of you.

Step 2: Documents Collection

After you finalise your lender, the lender's direct selling agent will visit you and collect documents supporting proof of income, residence proof, and identity. You may be required to produce copies of IT returns, salary slips, bank statements, ration card, passport, driving licence, and other relevant documents. These requirements vary from lender to lender.

Step 3: Field Investigation Agency Representative Visit

After submitting the documents, a field investigator will visit your home to double check the facts provided in the documents, such as your place of residence, tenure at work place and so on. It is essential that you are present during this visit; otherwise the investigator could report that the facts you provided do not actually add up, thus forcing the lender to reject your loan application.

Step 4: Loan approved

Once the lender is satisfied with the veracity of your documents, the loan is approved. The lender then disburses the amount through cheques or demand drafts (DD).