Flexible loans are the latest revelation in personal lending allowing customers to borrow as little or as much as they liked from their lender, however, it is not offered by all high street lenders yet there are thousands of customers using them right now.
A flexible loan generally means that the rate of the loan may change during the term of the loan or allows you to borrow as much or as little as you need, of a set allocation which a provider will set.
You can apply for flexible loans from any kind of provider and after your application is accepted, a credit limit is set. Based on what you spend you receive a statement at the end of each month detailing the amount you have borrowed, allowing you to draw cash out without fear of a higher interest rate for cash withdrawals.
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