Can I Get A Loan For My Holiday? Word Count: 565 Summary: Securing a holiday loan may be just the ticket if you are desperate to take a holiday but do not have the cash necessary to make your dream a reality. If you are looking for a holiday, whether it be a world wide destination cruise, a break from the winter cold or even a snowboarding or ski trip, finding a great loan may be exactly what you need. A loan could mean that you do not have to turn down the opportunity for a dream holiday simply because your budget is tight! S... Keywords: holiday loan,loans,uk loan,uk lender,finance Article Body: Securing a holiday loan may be just the ticket if you are desperate to take a holiday but do not have the cash necessary to make your dream a reality. If you are looking for a holiday, whether it be a world wide destination cruise, a break from the winter cold or even a snowboarding or ski trip, finding a great loan may be exactly what you need. A loan could mean that you do not have to turn down the opportunity for a dream holiday simply because your budget is tight! Simply put, a holiday loan will likely be a secured loan taken out in order to allow you to pay for a holiday: no surprises there. However, taking a holiday loan may not necessarily be the best option for everyone, so weigh things up before you make any concrete plans. You should take into account the following if you are thinking about applying for a secured loan for a holiday: - You are dreaming of taking a holiday this year, but you do not have enough funds in your account to pay for the entire holiday straight away. Do you mind paying interest to borrow money for a holiday? - Are you comfortable to take out a homeowner loan? - Has your credit rating has been poor in the past, and you have been denied a secured loan sometime recently from another lender? - Will your loan have restrictions on which destination(s) you choose for your holiday? Types of Holiday Loan There are two types of loan that you may be able to get for the purposes of paying for a holiday: secured holiday loans and unsecured holiday loans. Secured loans require that you use something with a significant amount of value in order to secure the loan amount that you seek. The best and most popular form of collateral for a secured loan is your home. These loans are less risky for lenders which means that they can net you much lower interest rates, or even in some cases access to higher amounts to borrow. Unsecured loans on the other hand are of course not secured using property of significant value like your home. This makes the loan a much more risky proposition for the lender. Because there is so much risk involved for the lender, these loans often involve much higher interest rates, or restrictions on how much money you can borrow or where or how the money that you borrow can be spent. Consequently, as mentioned earlier most loans for a holiday would likely be secured. What Makes Holiday Loans Desirable? People generally tend to want to use their credit cards to pay for their holidays, and while this may be a very easy process it also comes attached with a much higher interest rate than an outright loan from a financial organistaion. Holiday loans have much lower interest rates in most cases because they are secured loans, and this makes it possible to borrow more and to pay less interest over the long term. These two factors combined make secured holiday loans an exceptional option when trying to plan out your holidays. If you cannot afford to pay cash for your holiday, the good news is you need not miss out on your trip abroad. Just be careful to research a suitable loan and be sure you can afford to take it.