Holiday Loan

Our Online Loan Buys *

	Typical APR	Per Mth
	12.9%	£141.49
	14.9%	£144.00
	19.8%	£150.07
	19.8%	£150.07
* Based on £3000 over 2 years and is not a full search of the whole market

More Loan Tables

 

There is nothing wrong with taking out a holiday loan so long as you benefit from a good deal and have a repayment plan in place. The cost of a family holiday can amount to thousands after just flights, accommodation and food, so taking out a holiday loan may make sense.

Using a secured loan as a holiday loan will require the borrower to offer usually against your home which the lender may repossess use if repayments are not met. If you do not wish to do this, there are also a multitude of unsecured loans on offer.

You should shop around for your holiday loan as rates and conditions will vary widely between lenders. Also, be careful to borrow only what you need, and not to miss repayments once youre back on home soil. There are some competitive holiday loan deals on offer- but do watch out for any additional costs.

To subsidise a low rate loan , for example, some providers offer payment protection insurance (PPI) at an increased cost. This is an insurance policy to cover your holiday loan repayments if you can't work because of an accident, sickness or unemployment.

Last Updated: May 2007 © Moneyextra.com

MoneyExtra.com recommends you should consider taking independent financial advice before acting on any article. Please contact us for help with your individual circumstances if any assistance is required.