Make no mistake about it, these are difficult times to carve out a prosperous living. While recent inflation figures offer some relief, the reality is that our budgets are being squeezed by soaring rental and housing costs, among others. And with cuts being the name of the game at a fiscal level, it’s fair to work under the assumption that gifts from Uncle George will be few and far between over the coming years.
It leaves many of us struggling to make ends meet each month, or perhaps finding ourselves limited in savings to do the things we always wanted to do like making home improvements, going on holiday, buying a new car or having a dream wedding. But there is a way to escape your financial straitjacket…
Ever considered delving into the world of low interest loans? No longer is taking out credit shrouded in stigma, and, rather than being an admission of defeat, getting a helping hand with a competitive APR can be a sound means through which to make positive forward steps in your financial future.
The emergence of P2P lending
Indeed, the personal loans market has become increasingly diverse too, with the likes of alternative finance offering greater benefits to the consumer. In the case of peer-to-peer lending (P2P) for example, you are given the opportunity to borrow directly from consumers like you who have money to spare. This streamlined business model essentially cuts out all the intermediaries and bureaucracy that you might associate with banks and other high-street institutions, thus allowing such platforms to offer greater value to you through competitive APRs.
Further enhancing this value is the fact that P2P lenders function completely online, and with minimal overheads they provide both borrowers and lenders greater bang for their buck. But it is arguably their dynamism which is most impressive. The application process typically takes no more than a couple of minutes, with funds transferred within a working day or two if you are approved.
The amount and period over which you can borrow also offers a good degree of flexibility, thus allowing you to find a repayment plan that suits you. Some P2P platforms such as Lending Works even give you the chance to make early repayments at no extra cost, while the fact that they are regulated by the FCA means that there aren’t any demons in the fine print in terms of hidden charges.
A loan to help you
The world of personal loans has evolved from a dichotomous headache between banks and payday lenders into a consumer-friendly space, which serves to help people like you as opposed to the bottom line of unscrupulous companies. And with such a myriad of options at your disposal, it makes sense to click around and find a loan that works best for you.
The important thing to note is that there is more than one way to get your head above water, and that you don’t need to get bogged down with the financial rigours of everyday life. Low interest loans, with sensible repayment plans, need not be something which perpetuates fear, and a cycle of debt. Instead, it’s a tool which can help you get ahead, and make positive decisions to boost both you and your family. So don’t be shy to look into it!
Leave a Reply