This website is designed to help you find some of the best secured homeowner and unsecured personal loan offers on the Internet.

In recent years competition in the UK loans market has become more fierce with lenders fighting each other to appear at the top of the best buy tables. Not so long ago rates of around 15% were commonplace, today rates around 7% are the norm. 

Most of us at some stage in our lives will need to borrow money. Quite often the unexpected happens and we need to find funds to pay for something we haven’t budgeted for. Perhaps your car needs some expensive repairs or you need to buy a new one, or maybe your boiler has broken and needs replacing. Whatever the reason, the golden rule of borrowing is to shop around before signing up.

It’s simply not a matter of a trip down the high street to your local bank to sign along the dotted line as your bank is unlikely to offer you the lowest rates. Instead, shrewd borrowers will scour the market to see who offers low interest cheap loans and, more often than not, the best loan rates can be found online.

Choosing the cheapest loan could save you hundreds of pounds in interest charges. For instance if you were to borrow £5,000 over three years at an APR under 6%, your interest bill will be less than £500. On the other hand, it could be anything between £1,000 and £3,000 if you opted to go for one of the most expensive lenders.

You should be wary of gimmicks such as repayment holidays as these will only increase your interest bill, it’s worth ignoring these and going for a no frills cheap  loan, instead.

Fixed Rates
Most personal loans tend to charge fixed interest rates, which means that your monthly repayments will stay the same throughout the life of your loan. This will give you peace of mind and you’ll be able to budget more easily than if you had a variable rate.  The more you borrow, the more interest you pay, so you should only borrow what you need. 

Repayment Terms
You should try to keep the repayment term as short as possible with repayments you can afford. The longer you take to repay your loan, the larger your interest bill. For instance if your borrowed £8,000 at 6% over 5 years your monthly repayments would be £154.66 and the total you’d repay would be £9279.24. This would mean you’d pay a total of £1279.74 in interest charges. However if you borrowed the same amount over 7 years, your monthly repayments would be lower at £116.87 but your total interest charge would be £1816.95, which is £537.21 more in interest charges.

Flexibility
Its wise to avoid lenders who charge a penalty for paying off the loan early. A flexible loan will enable you to make overpayments should you choose, allowing you to clear the loan early without suffering a penalty. 

You can save yourself time and money when looking for a personal loan by using our loan directory. You’ll find some of the best personal loan deals on the market listed.