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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.
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.
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.
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.
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.
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.
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.
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.
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.
FIXED
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.
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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