Loans

Personal loans UK

Loans

Sourcing the right personal loan to suit your circumstances isn’t always straightforward. One of the biggest difficulties is that there are more than 70 categories of lenders offering personal loans in the UK; these may range from the traditional large banks and building societies to online and post office lenders. Read our guide for some helpful tips. As always, compare a variety of loans first by shopping around to get the best price. Whether you are looking for a personal loans, a debt consolidation loan or any other type of borrowing, let FreePriceCompare help you. The most common personal loan providers in the UK Online banks The biggest single advantage of going through an online source is that overheads are lower and this is reflected in their lower rates of interest. A bonus of online banking and borrowing is that you can manage your loan from overseas In addition to […]

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Looking for a good loan company may seem a daunting task yet there are ways to simplify the search. The first and most important step is to ascertain what type of loan will be most suited to your needs; to do this it’s best to first do some research on the loans market. After you have done some simple fact finding, you can then compare loans. It makes no difference if you want a personal loan or you are looking for a debt consolidation loan. There are three main sources for acquiring a loan: High street banks and building societies Choosing your loan company Online banks There are so many loans available that finding the best loan company can be hard. Here’s our guide to finding them. What are your options? Online banks Advantages If you need some advice, you can call the online loan company and get help with […]

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Before you begin looking at the latest deals on car finance, read up on a few tips first and avoid the pitfalls. The majority of people looking for car finance will charge off to the dealer’s forecourt and begin looking at cars and prices; they do this before considering how they are going to finance their new vehicle. Yet it can be a heavy financial commitment. The result is often a bigger outlay because, without proper research, you will not get the best deal. Take a look at the options before going ahead; compare car finance loans as you would with most other types of loan and arm yourself with some pre-loan knowledge. Top tips for getting cheaper car finance Check your credit report for free before you apply for a loan; those with an unblemished credit history will have the best access to unsecured personal loan rates. Even if […]

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Getting the best loan rate is probably going to be high on your list of things to find out before securing your loan. It is less about from whom you borrow and the length of your term because the amount you are looking to borrow will set the rate level; Comparing loans Whether you are considering a personal loans or debt consolidation loan, compare what is on offer. You might well expect to assume, if you borrow less, you will pay back at a lower rate of interest; this is often not the case. A personal loan of £4,500 could set you back more on pay back interest than if you borrowed more than £5000. Why do you pay a higher interest rate for a smaller loan? In general it’s about risk; the APR that a lender stipulates for the loan reflects the risk the company feels it is taking […]

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Early Repayment Charges

Loans

Early repayment charge Have you ever seen those words ‘early repayment charges apply’ and felt a twinge of anxiety at what they mean? In this article we will clarify the meaning of this term and explain how to find flexible loans. Loans with no repayment charge You will find several loans on our personal loans table which have no early repayment charges attached to them. What are early repayment charges? You may be tempted to think that paying off your loan before expiry of the term sounds like a good idea. Before you take that leap beware, you could be due for penalty fees for discharging the balance early. When comparing different loans, confusingly, you may find a variety of terms appear which all mean the same thing, to whichever loan they apply. Typically, these will be phrases such as: early repayment charge financial penalty redemption charge no early repayment […]

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With general interest rates on mortgage payments down to an incredible low, it has been called one of the best times to invest in a property in a long time. And now the large banks are looking to spread this message of property prosperity. HSBC has announced that it will be offering 5 year fixed rate mortgages. As it stands the average 5 year fixed deal is being sold at around 3.55% at the other large lenders, so HSBC has set the bar high for customer friendly interest rates on mortgages. This new deal does come with a catch however. Buyers must be able to put up a 40% deposit before gaining access to this low rate mortgage. The booking fee is also 6 times higher than average, at £1,499. Whilst this is a low risk strategy from HSBC, as the high deposit amount lowers the amount owed to them […]

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After an enquiry from the Financial Conduct Authority (FCA), accusations of unfair and predatory lending to customers are emerging. For quite some time these companies that offer short term loans at extreme interest rates and extreme payback terms have been operating on the very edges of financial legality. Very often there are insufficient credit checks or income reports. Customers can borrow fairly large sums of money in less than 10 minutes. Very often these borrowers probably will not be able to pay back the interest rates on these quick loans and end up in severe financial difficulty and can end up ruining good portions of their lives all because of borderline illegal practices. The FCA reviewed many ‘payday lenders’ and assessed that although some had improved some of their practices, many were still not carrying out sufficient credit checks and were not taking due concern over who they were lending […]

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