Obtaining a loan is simpler than ever for most of us, with online applications and acceptance in moments. Even if your credit history could be better, it’s likely you’ll find a willing lender easily enough.

However, loans come in all shapes and sizes to suit differing purposes, timescales and amounts, so you must ensure you shop around and get the best deal for your circumstances. In this article, we’ll look at the best loans on the market today but be sure to conduct your own research for the very latest offers.

Debt Consolidation Loans

If you have multiple debts and bad credit, use one of these loans to consolidate them into one debt, with one payment term.

Home Improvement Loans

A home improvement loan is perfect if you’re looking to carry out improvements that will add value to your house, such as a new kitchen, bathroom or extension

Joint Accounts Loans

The positive of a joint account loan is you might, as a couple, be able to borrow more together. The negative is each of you may be asked to repay the debt in full if the other person can’t.

Flexible loans

Sometimes called a flexi loan, a flexible loan allows you to increase or decrease your loan amount as you go along or vary the repayments. Some permit you to miss the occasional payment.

Short Term Loans

These are the best bets if you want to repay in full within a year. Short-term 1 year loans are ideal for funding a purchase or perhaps consolidating a debt.

Bad Credit Loans

Even if you’ve been refused credit in the past owing to a poor credit history, you can get a loan. But because you have a higher risk attached to your application, you’ll be paying more in interest.

Guarantor Loans

If you can’t get a loan for whatever reason, perhaps through having bad credit, then apply for a loan where someone else acts as the guarantor, perhaps a relative. If the loan defaults, they’re liable for the debt.

Long-Term Loans

A long-term loan might be the best option if you want to reduce your monthly costs. The downside, of course, is that it will take you much longer to settle the debt, and over that time you may pay more in interest.

Low-Interest Loans

A low interest loan offers the best interest rates around but you must have a decent credit rating. No lender will risk low rates on just anybody!

Tenant Loans

Tenant loans are liable to have a higher interest rate payable since the applicant won’t have a home to secure against the debt. The best option is to plump for a tenant guarantor loan, whereby someone close to you secures the loan.

Small Loans

The ideal amount for a new car, holiday or perhaps a purchase for the home, compare lenders for borrowing upto £5,000.

Business Loans

Businesses need finance to grow and become a success. Both start-ups new to business and established companies could benefit from an injection of cash to fund expansion, cover short term cash flow issues or to refinance borrowing at a better rate with a business loan.