The personal loans price war is hotting up.
With rates falling, we’ve put together a top tips for taking out a personal loan.
Look closely, read clearly!
Your bank may say
it offers preferential
rates to its current
but you might still
find there are
Check the small
Before you apply
for a loan, check
the small print to
see if you’re
eligible. Some best
buys come with
Check your credit rating
if your credit rating is not in good shape, you may be offered a more
expensive deal than the low rate loan you originally applied for.
Don’t apply for too many loans
When you apply for a loan online, most applicants will leave a “footprint” on your credit
record which lenders check before approving a loan.
Think about early repayment charges
Many loan providers will apply a charge if you wish to do so, so it’s a good idea to check how
much this might cost before you apply for a particular deal.
Know the risks of secured loans
don’t sign-up unless you’re 100 per cent sure that you will be
able to meet your repayments
And don’t forget….
Louise Martinez - Assistant Writer for www.unsecuredloans4u.co.uk