The Financial Blog

6% loans are getting harder, if not impossible to find but there are still some good loan rates around, especailly if you take the time to compare loans via a comparison site.

The mainstream loans are heading towards 7% APR and the best loan rates I can find today start at 6.7%, take a look below;

A Loan of £5,000 over 4 years

Moneyback Bank http://www.moneybackbank.co.uk 6.7% TYPICAL APR

Barclaycard personal loan http://www.barclaycard.co.uk/personal-home/loans 6.8% TYPICAL APR

Your Personal Loan https://www.yourpersonalloan.co.uk 6.9% TYPICAL APR

Alliance and Leicester Loan http://www.alliance-leicester.co.uk/loans 6.9% TYPICAL APR

After the personal loan rates of around 6.9% there is an increase to 7.9% to 8%. These are the lenders offering loans;

Barclays personal loan http://www.barclayslowloan.co.uk 7.9% TYPICAL APR

Abbey personal loan http://www.abbey.com/loans 7.9% TYPICAL APR

Lombard Direct Online loan http://www.lombarddirect.com 7.9% TYPICAL APR

Sainsbury’s Bank loan http://www.sainsburysbank.co.uk/loans 7.9% TYPICAL APR

If you’re unsecured loan application is rejected you may have a bad credit rating so you’ll have no choice but to apply for a secured loan.

secured loans are available to people with a poor credit rating but only homeowners who are currently paying a mortgage. The loan is secured against the equity in your home so you are more likely to be accpeted for a secured loan. You should however remember that your home may be repossessed if you do not keep up repayments on your loan. Missing payments will have severe consequences and could make obtaining credit more difficult in the future.

You should always compare loans to find the best deal for your circumstances and seek professional financial advice if you are not sure.

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This entry was posted on Friday, March 7th, 2008 at 3:19 pm and is filed under Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.