Whether you’re looking to cover the costs of some home improvements or buy a new car Hitachi Loans might be the solution for you, Hitachi Personal Finance offer both personal and secured loans.
Hitachi Loans feature:
- Ability to borrow between £2,500 and £25,000 over a period of 2 to 5 years
- No arrangement costs
- Can transfer the money into your account with 48 hours
To eligible for a Hitachi Personal Loan you must:
- Be 18 or over
- Be a permanent UK resident and have been living in the UK for at least 12 months
- Have a good credit history
- Either be in paid employment, self employed or retired with a pension.
Although the maximum amount Hitachi offer as a personal loan is listed as 25,000 this does not mean you are guaranteed to be able to borrow this amount, the maximum could be less than this and would depend on an assessment of your financial circumstances and credit score this would also affect your APR.
Personal loans also known as ‘unsecured loans’ are a type of loan that are not secured against property or another asset.
If you are looking to borrow over £25,000 and you are a homeowner a secured loan may be a viable option for you. Hitachi Secured loans offer a maximum of borrowing £250,000 with a repayment periods from 5 to 30 years.
The amount you can actually borrow from a Hitachi Secured Loan would be dependent on your credit history as well as the market value of your home and how much of its equity you actually own.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. If you are at all unsure of the suitability of a particular product for your circumstances you should seek independent financial advice.
Things to think about
If you are thinking about taking out a loan for any amount of money you should shop around to find the best deal for you. There are many loans available on the market from a diverse range of lenders, all of which have varying terms and conditions along with interest rates.
You can use the calculator on this website to compare over 200 different loans from over 20 different providers, to help you see what the different options for you are.
Whatever the reason for your loan is before you decide on a plan you should consider if there are any alternatives that might suit you better. For example if you currently have any savings it may be better to use them rather than a loan, this is because the interest you needed to pay on a loan may be greater than any interest you are earning from your savings.
There are also other types of lending to personal and secured loans such as authorised overdrafts and credit cards.
if you are thinking of taking out alone to consolidate debt remember that spreading your payments over a longer term means you may ultimately be paying more overall than with your existing arrangements, even if the interest rate on this new loan is less than the rates you have at the moment.