You are here: Get details of Flexible Loan Providers in your area
Filling in the brief form below will instantly give you a set of contact details for people who can help you with advice on flexible loans. You will be given with their contact details, all within less than a second and you will then be able to contact them directly to discuss your position in more detail.
Filling in the brief form above will instantly give you a set of contact details for people who can help you with advice on flexible loans. You will be given with their contact details, all within less than a second and you will then be able to contact them directly to discuss your position in more detail.
Flexible Loans
In general terms, when a loan or a mortgage is taken out, the term of the loan and the monthly repayment amount are fixed as part of the loan agreement.
This has the benefit of allowing the borrower to plan finances in advance, knowing that the repayment of the loan will need to be met, month by month, for a specific period. However, if finances do not go to plan for whatever reason, the rigidity of this repayment schedule may become a problem rather than a benefit.
With a Flexible Loan, the rigidity of this repayment plan is eliminated, as is the amount borrowed.
A Flexible Loan allows the borrower to agree a maximum sum to be borrowed, without actually borrowing the full amount or paying interest on that amount from day one. Monthly repayments can also be varied by increasing or decreasing the payments as needed. This means that if money is particularly tight one month, the borrower can adjust their monthly repayment.
Flexi loans allow money to be transferred from the loan to a bank account as and when needed, up to the maximum amount of the loan.
If, for example, a flexible loan is taken out to fund a project which requires phased payments to contractors, the full amount of the loan will not be required immediately and on that basis, does not need to be drawn down in one lump sum. As the interest on the loan is only ever based on the current, outstanding amount borrowed, this means a saving on interest paid.
Flexible loans offer payment holidays which means that loan repayments can be paused for a short time without incurring penalty fees. Interest will still be charged on the total loan balance.
Another advantage of Flexible Loans is the opportunity to make early repayment. With a personal loan, the lender will stipulate set monthly repayments over a set period. As lenders makes their money from the interest paid on the loan, their profit would be reduced by early repayment, so they will often make an extra charge for early repayment of the loan. Most Flexible Loans do not.
With Flexible Loans, it is possible to make overpayments. These allow payments higher than the required minimum monthly amount, allowing a faster reduction in the amount of the loan outstanding and a reduction in the interest payable, and a shorter overall repayment time.
These benefits are not free and interest rates for Flexible Loans are generally higher than with traditional personal loans or mortgages.
As with any borrowing, it is wise to consider the obligation to make repayments and be comfortable with the ability to meet that obligation. Providers of flexible loans have a range of products. The above gives an overview, but you will need to speak to a provider directly for details on their product range.
If you are looking for a mortgage rather than a flexible loan, please visit our mortgage brokers page
Are you a Flexible Loan provider?
If you are a Flexible Loan Provider and you would like a trial of the website, simply complete the registration form
Customer Feedback
Please see below for some Customer Feedback
I wrote to one company and they responded immediately, within a few hours and a second wrote to me and offered their services and support. Both seem highly professional in their approach. i look forward to meeting them.
Finsbury Equipment Services were very prompt and confirmed the time of the survey that was completed with its follow up report very efficiently and its cost was as estimated
Excellent service and very well organised
Very good service - came on time & cleared the sewers quickly Thanks
Trevor provided me with a prompt, extremely competitive quote for a Tree Survey, required for a planning application. Both his site visit and the completed report were finished within a matter of days. Excellent communication throughout, would recommend highly