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FAQ Home | General Questions | Critical Illness Insurance | Life Insurance | Home and Contents If I decide I need a personal loan, which type of lender is best?Banks, building societies and specialist finance companies all offer personal loans. None are any better than the others in any outright sense – but because the market is so competitive, you'll need to shop around.Different lenders have different preferences when deciding which borrowers to take on, that means that you might get a good deal off one lender, and a bad deal off another. For example, some specialise in offering homeowners with a good history loans, whereas others target those with debt and a bad credit history. Some lenders will not touch you at all if you don’t own any property. As a borrower when you're comparing deals, it is essential that you compare like with like. The main point of comparison is the Annual Percentage Rate (APR). This can be a helpful starting point in determining the real interest rate you'll face over the term of the loan but you still need to treat this figure with care. For example, some lenders will include insurance on this figure and others won’t, so you need to be sure of these things before you can make an accurate comparison. Hot Topics
Risk Warning Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required. Think carefully before securing other debts to your home.
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