low cost loans uk Tailored For You

2007-03-08 10:33:40

( Financial )



Are you interested in low cost loans uk? There is a site especially for you! You won’t find uk mortgages, but you will find a cheap loan for:
• a holiday
• a car payment
• home improvements
• etc.

This online service compares available loans from hundreds of leading lenders – bringing you the best deal in low cost loans uk. They search the marketplace daily for low cost loans uk to find the cheapest loans currently on offer.

Shop around!
Fortunately for you, fierce competition and falling interest rates in recent years have greatly reduced the cost of loans. There is one rule that remains: don’t go to the bank first – their rates are usually not competitive.

On this website not only can you view all the cheapest loans available but in some cases, you can even apply online. An interactive comparison tool guides you according to your requirements and situation. Simply tell them:
• how much you want to borrow
• for what length of time
• if your credit is adverse
and they will lead you to the appropriate list of loans that best suit your circumstances.

How to choose a personal loan
A personal loan is an amount of money which you can borrow from:
• a bank
• a building society
• a loan company.
There is usually a fixed interest rate and repayment period. Payments are made monthly by direct debit.

This type of loan can be used for many purposes:
• a holiday
• home improvements
• buying a car
• a wedding
• to pay off debts
• (but you won’t get for uk mortgages).
The key? - only borrow as much as you can afford.



How to begin?
• Set out a monthly incoming/outgoing budget
• Deduct your total bills and outgoings each month from your income.
In this way, you can assess your disposable income. Remember to leave something for unforeseen expenses when you commit to a loan repayment.

Unsecured and Secured Loans
These are the two principle types of loans.
Unsecured loans: your home isn’t the security. If you can’t repay your home won’t be repossessed.
Secured loans: only available to you if you own a home. It’s a bit like a mortgage – though not exactly a UK mortgage. Your home is the security and if you don’t repay, the lender can claim on it.

Borrowing Limits
Even with an unsecured loan, you can borrow thousands of pounds.

Loan Repayment Terms
Unsecured personal loan – you can borrow over anything from a year to 7 years. Some terms even have a 6 months payment period. With others, you can pay over 10 years. Most lenders require you to take out a direct debit.

Interest Rates
Generally, interest rates are fixed for as long as the loan lasts. So you know how much your debit is each month. Remember to look at the annual percentage rate. The higher it is, the greater the interest charges.


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