If you are looking for a personal loan here are some tips to consider that might help you to get a cheaper
1/ Take a look at your credit report.
It is important that you check your credit
rating first. Loan providers are only required to offer their advertised typical APRs to two thirds of applicants.
Therefore, 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. By checking the report you can make sure everything is in order so you are not being penalised for
something you might not be aware of. Best of all it is possible to see your credir report free.
2/ Keep on top of your existing debts.
You can’t go back and change your credit history
if you have fallen behind on payments or defaulted. A good record with your current loansgreatly improves your chances
of being approved for further credit. However, if you do have existing debts to repay, consider whether you will be able to
afford a new loan.
Spend time researching loans before making an application
because each time you apply for a loan your credit history is checked and this can in turn lower your credit score.
4/ Be careful of secured loans.
As secured loans are secured on your house and if you can't
repay, the lender can repossess your home, secured loans also tend to have variable rates, meaning the lender can up your
payments when it likes. Almost every unsecured personal loan is at a fixed rate; so you know exactly what you'll pay from
the start, and it won't change.
Look at the small print as will the lender allow
yourself the luxury of being able to pay off the loan without penalties.
out Loan insurance if you really think you need it. Realise the true cost of these products in advance and make sure
you have looked at what these policies include and exclude before you take them out
7. Be Aware of the APR
Lenders can manipulate APRs to make them look better than they are. To compare loans
you should ignore the APR and instead look at the total amount repayable and the monthly payment.