Nowadays many people in the UK are deciding to let go their career and get themselves employed on their own.
There are many, many benefits that often come with being a person that runs their own business. It is therefore not at all surprising that it is become a rather popular option for people of all ages. You can earn far more more money, work better hours and enjoy a great deal more freedom in where you choose to work.
One of these is the difficulties that you may experience in getting finance and there are some disadvantages to being self employed.
In the past because of high risk many lenders treated self employed people in the same way that they treated bad credit consumers. It was difficult for self employed people to get a loan through many of the traditional lender, if get the interest rate will be high.
Over recent years, it has been easier to get finance as self employed person as competition between lenders become firmer due increasing number of self employed people.
If you are self employed you can now get loans on both a secured and an unsecured basis. In most cases it is easier to get a secured loan, as the risk to the lender is reduced due to the secured nature of the loan, and therefore the borrower has a higher chance of success.
Be aware that this kind of loan is secured by your home, so defaulted on the agreement could put your property at risk.
Providing you have been self employed for a certain period of time as specified by the lender - generally at least two or three years - and you can prove your annual income then you could get a really good deal on an unsecured loan and the good news is that more and more unsecured lenders are now catering for the self employed.
It is important to compare the options and different loan packages when looking for a self employed loan, and the easiest way to do this - and to make your application - is to harness the power of the Internet and go online as with all loans.
There are many, many benefits that often come with being a person that runs their own business. It is therefore not at all surprising that it is become a rather popular option for people of all ages. You can earn far more more money, work better hours and enjoy a great deal more freedom in where you choose to work.
One of these is the difficulties that you may experience in getting finance and there are some disadvantages to being self employed.
In the past because of high risk many lenders treated self employed people in the same way that they treated bad credit consumers. It was difficult for self employed people to get a loan through many of the traditional lender, if get the interest rate will be high.
Over recent years, it has been easier to get finance as self employed person as competition between lenders become firmer due increasing number of self employed people.
If you are self employed you can now get loans on both a secured and an unsecured basis. In most cases it is easier to get a secured loan, as the risk to the lender is reduced due to the secured nature of the loan, and therefore the borrower has a higher chance of success.
Be aware that this kind of loan is secured by your home, so defaulted on the agreement could put your property at risk.
Providing you have been self employed for a certain period of time as specified by the lender - generally at least two or three years - and you can prove your annual income then you could get a really good deal on an unsecured loan and the good news is that more and more unsecured lenders are now catering for the self employed.
It is important to compare the options and different loan packages when looking for a self employed loan, and the easiest way to do this - and to make your application - is to harness the power of the Internet and go online as with all loans.
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