Freedom Finance is an independent loan broker in the UK. Based in Manchester, they work with over a dozen UK lenders to match borrowers with the most competitive rates and best loan suited for their requirements. The lenders they feature offer business loans, mortgages, bridging loans, personal loans and peer- to-peer loans.
So whether you need a loan for a new home, home improvements, debt consolidation or business purpose, Freedom Finance can recommend the best company for you. There is the choice of selecting a secured or unsecured loan depending on whether you wish to put down something as collateral and how much you are looking to borrow.
How Do You Apply For A Loan Through Freedom Finance?
Applying for a loan through Freedom Finance is simple. You can visit their website through this page and you will be required to complete a few details including how much you wish to borrow, the purpose of your loan, your name and address. With this information, Freedom Finance will be able to run a credit check on your account which will give an indication of your previous credit history and how many loans you have outstanding.
Using this information, they will be able to recommend the best lender for you and they pride themselves on being accurate 90% of the time. You will then be put in touch with your ideal lender within the next 24 hours so you proceed with your loan.
You can choose whether you want your information to be passed to different lenders to find you alternate deals or you can decide to work specifically with the lender they recommend.
How Much Will You Pay For A Loan With Freedom Finance?
Don’t forget, the loan is not directly from Freedom Finance. As a broker, they will put you in touch with the best lender based on your requirements and take an introductory fee from that lender as commission.
The unsecured loans available range from £500 to £25,000 at a representative APR of 15.9%. For secured loans, you can borrow between £3,000 up to £200,000 with a typical APR of 15.2% and a broker fee of 12.5% will apply. Customers must be aware that if they fall behind on payments of a secured loan, they risk the potential repossession of their car or property.
How much you pay for your loan will depend largely on the lender you are borrowing with who may charge you a different APR depending on the duration of the loan and credit rating. For instance, mortgage loan providers and peer-to- peer lenders will offer lower rates of interest to borrowers with good credit because they are deemed a lower risk of default.
Useful Information About Freedom Finance
Company Number: 06297533 Interim Permission Number: 613930
Warning: Late repayment can cause you serious money problems. For help, go to www.moneyadviceservice.org.uk.