Tips for taking out a personal loan

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Tips for Taking out a Personal Loan
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The personal loans price war is hotting up. With
rates falling, weve put together a top tips for
taking out a personal loan. Look closely, read
clearly!
Shop around Your bank may say it offers
preferential rates to its current account
customers but you might still find there are
cheaper loans available elsewhere.
Check the small print Before you apply for a
loan, check the small print to see if youre
eligible. Some best buys come with some onerous
conditions.
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Think about early repayment charges Many loan
providers will apply a charge if you wish to do
so, so its a good idea to check how much this
might cost before you apply for a particular deal.
Check your credit rating if your credit rating is
not in good shape, you may be offered a more
expensive deal than the low rate loan you
originally applied for.
Dont apply for too many loans When you apply for
a loan online, most applicants will leave a
footprint on your credit record which lenders
check before approving a loan.
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And dont forget.
Know the risks of secured loans dont sign-up
unless youre 100 per cent sure that you will be
able to meet your repayments
Louise Martinez - Assistant Writer for
www.unsecuredloans4u.co.uk