All You Need to Know About Low Rate Loans

A low rate loan is a great way to borrow for a big purchase or to consolidate existing debts. The market for low rate loans is huge, and with all the price competition out there it can be difficult to choose between the offers available. Don't worry - MoneyExpert.com offers completely impartial advice and can help you choose your low rate loan with the minimum of fuss.
What Type of Customer are You?

If you have a perfect credit rating, the world of low rate loans is yours. Your best bet is probably a low rate loan from an online lender, as they have fewer overheads and can offer cheaper products. If you'd prefer a better-known high street bank or building society, there are plenty to choose from - don't just apply for the first low rate loan whose leaflet pops through your door. The key to finding a low rate loan is to shop around and do some research.

If you have a damaged credit rating, you might want to consider a secured loan. This can improve your chance of acceptance as the risk to the lender is lower. Once your credit rating is looking better, you can apply for a low rate loan and finally get rid of your debt.

If you think you might be able to pay off your loan early, take a good look at the small print of the loans you're considering. Some low rate loans charge you a fee of up to two months interest to pay off your debt before your loan agreement expires, which can be a problem when the time comes. Make sure you choose a lender that doesn't penalise you for early redemption.
What Type of Loan do You Need?

There are a lot of different products in the market for low rate loans, so there's something for everyone. Decide upon the features that are important to you - otherwise, you're likely to settle for a deal that will cost you more than it needs to in the longer run.

Think about how much money you need to borrow, how long you'd like to borrow for, and how much you're prepared to pay. Then look for a lender that suits your criteria for a low rate loan. The MoneyExpert.com service can help you with this part of the process as we have a unique service to help compare the features of all loans products. Our comparison service searches through the components of all the low rate loans available and gives you a table of the ones that would suit your circumstances taking into account your credit position. All you need to do is answer a few questions about the type of loan you'd like, and it will present you with a league table of low rate loans to choose from. The service is completely impartial, so it won't steer you towards a particular loan. It will tell you what low rate loans are available to you, and allow you to make your own decision based upon what you have said is most important.
How do I Find the Best Low Rate Loans for my Circumstances?

The MoneyExpert.com service is free to use and will tell you all the small print you need to know. Once you've decided on a low rate loan, you can even apply for it online.

Click here to go straight to the MoneyExpert.com loan calculator and find your perfect low rate loan.