personal loans

ok, think i've decided I need a loan

Does anyone know where I can get the best deal? Don't mind doing it online - just want the lowest interest

There are comparison websites - does anyone know the best ones?

Cheers

 

look at motley fool and uswitch. probably the best ones to look into.
cheers


julian

 

Thanks Julian - found a good deal actually - better than I thought!

 

moneysavingexpert link

 

Hi Robert, thanks -

I've applied through moneyback loans - just waiting for an email now.

Seems a good rate!

 

Cahoot flexi loan is very convenient, but beware that anything less than an impeccable credit rating or even just if you are young will result in a % higher than the 6.9%

 

check out
http://www.zopa.com/zopaweb/motleyfool/index.html

if you've got a good credit rating you might be able to snap up a bargain. the e-bay of money...... it looks like it might be a good investment too... need to read more...
cheers


julian

 

Zopa looks ok unless you want to borrow more money. Unlike most lenders the rate goes upthe more you borrow. I suppose this to be expected if its private individuals who are funding the loan.

Rockhopper did you ask for the credit insurance? I would be interested to hear if the interest rate goes up if you don't take out the insurance.

Rod

 

Tesco was alright for this last time i looked, 6.odd percent.

 

The 'scam' with every loan I've ever taken is that the insurance cost is added to the loan so you pay interest on that as well. I've never taken the insurance and the rates have been the same. In one case I was told that the Bank Manager would only approve a loan with insurance, they didn't get my business and I moved my account.

 

That's all well and good, until you lose your job.

 

If you read the small print, you'll probably find that most 'job loss' scenarios aren't covered.

 

yup. re-payment insurance on loans is a rip, pure and simple. about on a level footing with extended warranties from Dixons.

Michael.

 

if you're that desperate to get loan insurance at least get it from an independant - much cheaper than what you get parcelled into the loan and you can cover a monthly outgoing rather than jsut one loan. i.e. 12.50 a month for 500 a month payments.
otherwise just put what you would have spent in a high interest account and save it up.
a few things that are;t always readily aparent with these things is that they only pay out after 30 days of unemployment which can often leave you one or even 2 months repayments short and that they require quite comprehensive proof that you are actively looking for work - copies of all letters, signature on odd forms from the job center etc.
it takes them a while to sent the kneecappers round and you can string them along for a while so you've got plenty of time to find another job so i say do without.