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Please note the interest rate we can offer you may be different, depending on your personal circumstances and the credit assessment we carry out as part of your application. This loan calculator is for reference purposes only.
Friday 12th May 2006
High Street banks have strengthened their code of practice over fears that consumers are taking on too much debt
The murky £1bn world of loan protection insurance is under the spotlight again, with accusations of disturbing sales methods
One in five bankrupts is now under the age of 30 as student debt and the consumer spending splurge starts to bite
The glory days when 'rate tarts' could switch their borrowing between credit cards for free could soon be over
.: Personal Loan Articles
UK Unsecured Personal Loans Specialists
Site Updates: Monday 5th June 2006
Site Last Updated: 02/06/2006
Ó www.apersonalloan4you.co.uk - Specialists in Uk personal loan services
IMPORTANT
The actual rate you will pay depends on a credit assessment of your personal circumstances. All figures quoted for Payment Protection include Insurance Premium Tax at the rate applicable on the date published. Any change will affect premiums payable.
Most people typically clear their loans on a regular monthly basis, taking from anywhere between one and five years.
For sums of between £1,000 and £25,000, the personal loan is these days typically the first port of call for millions of people needing a bit extra - many borrowers will use their loans to consolidate other, more expensive debts such as outstanding credit card balances and bank overdrafts - but of course millions use them for major purchases such as motor cars.
As a general rule of thumb, the more you borrow, the cheaper the rates of interest. So if you want say, £1,000, you could be looking at rates as high as 20 per cent - the lenders say this is because of the relatively high administration costs involved in arranging loans. Sums of this size are often better put on a low cost credit card, or run as a bank overdraft.
But for the bigger sums, many will opt for a personal loan. Borrow £25,000, spread over say a five year period, and you could be looking at rates of under six per cent.
With the Bank of England base rate still at historic lows, this represents very cheap borrowing.
Another consideration is whether or not to take out insurance - known as payment protection insurance - which covers your loan repayments in the event of your not being able to work through accident, sickness or unemployment.
But this kind of cover can significantly drive up the cost of the loan repayments, and there are often many clauses in the small print which can trip you up. If you are self-employed, or on short term working contracts for example, you may find that the terms and conditions of the loan are not appropriate for your circumstances.
How Much Should I Borrow?
Read our collection of personal loan articles to help you understand them more. These articles are a guide and will help you decide on the right loan, how to calculate how much you can afford to borrow and more.
What are personal loans, what history remains behind personal loans and other information
This article will help you to decide how much you should borrow
What loan is right for you, article information will help you decide
The pitfalls in personal loans, in depth information
Should you choose a personal loan or mortgages
What is a credit check and will the scoring effect me
Advantages of a bad credit loan
Having a bad credit loan does have certain advantages
Benefits of a secured personal loan
See just what benefits remain with a secured personal loan
