Virgin Money Personal Loans
Personal Loans: Personal loans are loans where one can borrow a sum of money and must pay it back in fixed amounts called “installments.” With this loan, one can get money to meet his/her needs. In these personal loans applicants can get loans without providing the assets to lenders as collateral. A personal loan is a loan in which the borrower has to repay the loan within the fixed dates. The repayment dates are referred to as the same as the borrower’s salary dates.
The lender will charge the borrower interest as its fee to lend money to him/her, so he/she repay the amount borrowed plus interest. The advantage is that one gets cash upfront, but can spread the cost of a purchase over several months or years. Learn more about the pros and cons of personal loans here. This guide details Virgin Money’s loans but also addresses whether other finance options, such as credit cards, might be cheaper. Plus, it is a clever Loans Eligibility Calculator, which can tell which lenders are likely to accept before applying.
Why Choose A Virgin Money Personal Loan?
See The Rate Before You Apply
Check your eligibility for a loan in minutes and see the rate before applying. This will not affect your credit score. You should see the rate before applying for personal loans.
Fast funds
If one application is approved, he/she will get the money in as little as two hours, or by the end of the next business day at the latest.
Fixed monthly payments
After the borrower’s first repayment, choose a repayment date that suits him/her, to help with budgeting.
Also Read: Payday Loans Bad Credit
What one will get with These Personal Loans?
One can get this loan for special surprises or serious buys. This loan has got him/her covered. The following are the basic characteristics of the personal loans.
Range of loan
To meet their needs of daily life, one can get Personal loans from £1,000 to £25,000. They can get personal loans to make their homes, buy a new car, have wedding expenses, cover an emergency, or debt consolidation.
Repayment of loan
If one’s application is approved and he/she gets a loan from Virgin Money personal loans. The repayment interval is over from 1 to 5 years.
Interest Rates
Rates of personal loans from 6.9% APR to 28.9% APR. The rate is subject to change and the representative APR may not be the rate the borrower receives. Virgin Money loan offers one a rate based on the assessment of one’s financial circumstances. The maximum APR you could be offered is 28.9%. The APR may vary based on the amount borrowed. Please use the calculator to calculate the loan and also interest rates.
What one can’t use a loan for
These loans don’t offer Personal Loans for a number of following purposes including:
- The purchase of property or land (both UK & Overseas) including holiday homes and apartments loans
- purchasing a joint stake in a property or buying out a joint owner in the UK
- Mortgage deposit loan (regardless of lenders or country)
- Gifting funds to third parties to support the purchase of a property, including mortgage deposit, stamp duty, and solicitors fees, and other fees
- Gambling purposes
- business process
- Share-dealing purposes
Borrowing Close To Where the APR Changes In The Personal
Use the calculator slider tool to see how borrowing slightly affects the monthly repayments and total loan amount and to measure the interest rates. one may be able to reduce his/her monthly payments and loan amount by borrowing slightly more. Always make sure one can afford the monthly payments.