Loans Guide
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Compare Loans
The UK personal loan market is current one of the most busy and competitive in the world, this is great news for the consumer because with all these banks competing for your business there are many low cost, good value loans in the market.
Whenever you need to borrow money it is tempting to go straight to your high street bank and sign up there and then, however you should be cautious because this may not be the best deal for you unless you have been able to compare loans before you visit the bank.
Deciding to borrow money is one of the biggest decisions you make in your life and before you leap straight in take your time to ensure that you get the loan that best meets your needs. The good news is that decision finance can help you compare the best personal loans available in the UK with our quick quote request forms.
How to compare loans
Comparing loans is easy, nobody wants to pay more than they have to, to borrow money and recent government legislation means that all loan providers have to provide the same information about their charges to consumers.
Interest Rates
All loan providers now have to express the interest they charge on their loans in terms of an Annual Percentage Rate (or APR), this rate represents the cost of borrowing as a percentage of the loan amount over 12 months. Having APR’s makes it simple to compare loans the lower the APR the cheaper the loan. You can compare loans on the basis of APR here
Monthly Payments
The Decision-finance quote request will allow you compare loans on the basis of how much you will have to pay to the lender each month, the amount you pay each month will depend on how much you want to borrow, how long you wish to borrow the money for and of course APR. Compare loans by getting a quote here.
Compare Secured or Unsecured loans
If you are a homeowner you can take out a loan based on the equity you can in your home. Because secured and unsecured loans can be very different products it can be difficult to compare loans because the interest rates might be different, the length of loans may be different and amount you can borrow may be different. As a general rule of thumb you can borrow more money with a secured loan than with an unsecured loan but to make sure that the loan you apply for is better for you compare loans with our simple quote tool by clicking here.
Compare Loans to your current loan.
If you took out a loan in the past, you may be able to save more money by taking out a new loan at a lower rate of interest and using that loan to pay back your old loan.
