| Get an unsecured loan?
Unsecured personal loans are granted on a mixture of factors, the most important are your income and employment status and your credit history. The interest rates available vary widely depending on how much you borrow and the time period over which you pay it back. Most advertised rates are typical rates and so, if you only wish to borrow small amounts, you will normally be charged a higher rate than that advertised. Unsecured loans are only available for sums of 25,000 or less. Click here for more on interest rates. To get the very cheapest unsecured loan rates you will need to have a good credit history. Click here to find out more about credit ratings. .
Why you should never take a loan from your bank
You can almost always borrow more money for less by shopping around online. Save yourself hundreds of pounds by not falling for the hype. Have you ever been tempted by the thought of borrowing thousands when your bank sends you a loan offer in the post? What about that moment when you ring up and they offer you an account review and you just know they actually mean to offer you a personal loan? Our advice is to steer well clear of most high street banks if you are looking for a loan. Most offer really poor value and you can do much better shopping around for cheaper credit. This is especially true if you are looking to borrow less than 7,500. Compare personal loan rates with our best buy tables High Street bank loan rates look good on paper The big banks are masters of the art of spin.
Spring DIY fever is on the way - how will you pay?
Should you be considering home improvements? And if you decide to go ahead, how will you finance them? The obvious answer is to consider a personal loan - and there are plenty of good deals on the market - but since the improvements are tied up with the value of your home, you might find a better deal by remortgaging. Remortgaging tends to be the cheapest way that most of us can borrow money and, if youre going to be adding value to your property, it may well be the most sensible way of paying for home improvements. Remember that you can often take out additional borrowing on a different basis from your existing loan, perhaps borrowing a new tranche of cash with a discounted loan to add to the fixed rate offer you have already, or vice versa. An extra bathroom should pay for itself, as long as it does not replace a bedroom in a small house.
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