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Welcome to Compare Loan UK
The team @ Compare Loan UK are here to help
you find the best deal for a cheap UK loan. We regularly review the
products offered by the UK's leading online loan providers so that we can
tell you about the best loan deals for low interest loans, flexible loans,
internet loans and cheap UK loans as well as all the advantages or
disadvantages of each personal loan in the UK featured on this website. We
have categorised some details below about UK loans to try and simplify
things for you.
HOME IMPROVEMENT LOAN
If you're taking out a home improvement loan
then some of our loan providers offer a deferred first payment - agree
your loan and start working on your home knowing that the first repayment
isn't due for three months. If you take the time to browse through the
rates on offer we'll try to point you towards the best loan for you, be it
low interest, high flexibility, debt consolidation, or whatever you need.
A home improvement loan can be a sound investment as you are putting your
money into the one thing you are confident can yield a good return. Home
improvement loans are very popular at present as people use this type of
loan to either improve their property and thus enhance the home they live
in, or to capitalise on the re-sale value prior to marketing a property
they wish to sell.
BANK LOAN
You have probably received letters through
your door from your bank offering you a personal loan, but before you
apply for a bank loan you really should take the time to look through
Compare Loan UK - our cheap loan comparison tables will help you to find a
low interest loan deal that will save you a fortune when compared to your
bank's offer. Even if you already have a bank loan then check the
repayments and have a look at our loan providers to see if you could take
out a consolidation loan to pay off the bank with a cheap low interest
loan and save money. Here at Compare loan UK we feature several high
street banks who will lend you money via an Internet application at a
reduced interest rate. The banks can offer these "internet only rates"
because by applying online you save them money in marketing and
administration costs.
FIXED INTEREST RATE LOAN
A Fixed-rate loan is an agreement between
yourself and the loan company where the interest rate is set at the
beginning of the loan, so you know exactly how much your monthly
repayments will be and for how long. Even if the Bank of England interest
rates change your repayments will always stay the same. At a time when
interest rates are low (they are now) it can be a great advantage to agree
to a fixed rate low interest loan and have the security of knowing that
even if the interest rate doubles over the next five years (it has
happened in the past) your repayments are locked at the original rate.
UNSECURED LOAN
The most popular loan taken out in Britain in
an unsecured personal loan where the loan company will assess your
personal circumstances and credit rating to make a decision as to whether
they can offer you a loan, or if you are considered high-risk, what
interest rate to charge you. The alternative is a secured personal loan
where the repayment of the loan is guaranteed by the value of your house
or other assets.
VARIABLE RATE LOAN
A variable rate loan means that the loan
company will vary the interest rate according to base rates set by the
Bank of England. Most people are wary of signing up to this type of loan
other than for mortgages, as no-one can predict what might happen to the
economy over the period of, say, a five-year loan - if interest rates rise
what started as a cheap loan could turn out very expensive in the long
run.
SHORT-TERM LOAN
If you're looking for a short-term loan have
you considered a credit card? With many credit card companies offering an
interest free period on transfers and balances you could get a totally
interest-free loan.
CAR LOAN
If you're taking out a car loan then two of
our providers have special deals - Virgin offer a discount on a new or
nearly-new car, and Cahoot offer a special low-rate loan which defers some
of the purchase price until the end of the loan period, leaving you free
to sell the car, trade it in, or keep it and extend/pay off the loan. One
of the most popular reasons for a loan is to purchase a new car.
DEBT CONSOLIDATION LOAN
If you owe money on a variety of different
financial services, i.e. credit cards, store cards, overdraft, bank loans
etc. then you are probably paying too much in interest charges. By taking
out a debt consolidation loan you can pay off all of your outstanding
balances and reduce them to one regular low interest loan repayment,
leaving you free to either pay everything off more quickly or, reduce your
monthly payment and regain control over your finances.
LOAN FOR BAD CREDIT RATING
If you have a bad credit history or have
CCJ's (County Court Judgements) against you then you will be classed as
having a bad credit rating. Don't despair, at Compare Loan UK we recommend
two loan brokers who can help you to find a loan whatever your past
problems. They deal in secured and unsecured loans, and can also help you
find a mortgage. You could risk further damaging your credit rating if you
apply for loans but are rejected - every loan provider will run a credit
check on you before approving a loan - but the loan brokers on Compare
Loan UK can advise you which company to apply to before you authorise them
to assess your rating.
FLEXIBLE LOAN
A flexible loan is probably the ideal
agreement for most people. The loan provider usually charges a slightly
higher interest rate for this service, but gives you the option of
changing repayments on the loan to vary the duration of the loan, or you
can take a payment holiday if you go through a tough patch, or you can top
up your loan with a new agreement. The chance to change every part of the
loan agreement as you go along makes this the best loan out there for many
people. You are usually subject to a variable interest rate with this type
of loan, and you will also need a good credit rating to get a flexible
loan.
Compare Group is an Internet based
information and application resource for financial products. We aim to
give you all the information that you need to make an informed decision
about your financial future. There should be no need to pick up the phone,
or even a pen, the best deals are out there on the internet and Compare
Loan UK are out there finding them for you. Any financial decision should
not be taken lightly, and any loan requires careful consideration. The
advantage of using a website like Compare Loan UK is you can take the time
to review all the details on many lenders, and make an informed decision
on the best UK loan for you.
Happy Loan Hunting!
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