A Cheap Loan - An Impartial Guide To Cheap Loans

How to Find a Cheap Loan

Cheap loans are increasingly available in the UK, as more loan companies come onto the market creating more competition and interest rates remain low. If you're looking for a loan, your main priority is probably to get the best value for money, so here are MoneyExpert.com's tips on finding a cheap loan that's right for you.
What to Watch out for in a Cheap Loan

When you're looking for a cheap loan, you probably just think about the interest rate (or APR), but there are other charges to consider that might make a difference. For instance, some lenders charge a loan arrangement fee when you apply or a fee for rapid delivery of the money into your account. Like credit card companies charging an annual fee, this might bring your interest rate down, but you'd be better off looking for a cheap loan with no fees and a low rate.

You might also be asked to pay an early repayment fee, or settlement charge. This will only apply if you decide to pay off your loan before the loan term expires, but lenders can charge the equivalent of up to two months' interest for this. Even if you don't think you'll be able to settle your debt early, it's worth looking for a cheap loan that doesn't charge for early repayment, just in case.
Find the Best, Cheap Loan That's Right for You

There are plenty of cheap loans available in the UK. Most high street banks and building societies offer one, most of these companies offer an online option as well, and new online banks are launching all the time. It's difficult to know where to start looking for your cheap loan, but all this competition means that there's one for everyone, it is just harder to sort through the huge amount of offers to find that perfect loan for you.

To help you shop around for your cheap loan, MoneyExpert.com offers a unique loans comparison service that searches the market for loans that match your criteria, including customer service measures. All you need to do is answer a few simple questions about your loan: for instance, how much do you want to borrow? Are any features of particular importance to you? How much can you afford to pay back each month?

The service will then give you a list of the cheap loans that are exactly right for you. The small print will be set out clearly, so you can look for a loan with a low APR, no arrangement fee and no early repayment fee. Without this easy-to-use comparison service, you'd have to search the literature of all the loans available in the UK to get a good idea of which loans would suit you best.

The MoneyExpert.com service is completely impartial - no lender has any interest in the Company. MoneyExpert.com makes its money from small commissions from the lenders, but this does not affect their ranking on the league tables you receive and all providers are included.

So what are you waiting for? Click here to go straight to the MoneyExpert.com comparison service and find the cheap loan that's best for you.