What are the best personal loan rates?

Asked by Dave Gerber

1 Answer

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Answered by Darren Smith, IFA in Basingstoke, HAMPSHIRE
Personal loan rates are subject to fluctuation. most lenders will quote "typical" rates which in theory must apply to a majority of borrowers but that doesnt mean you will qualify for them. a good credit record could mean a better rate whereas a poor one could mean a worse rate.

as lenders can choose what rate to charge there is nothing to stop you applying for say a 9% rate but then only being offered a 19% rate. this could be because you are a bad risk of default or the lender might fear that you would repay them early (meaning less profit) and so they will charge you a higher rate to put you off or to make the profit in a shorter period. | 12.07.10 @ 13:42
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$commenter.renderDisplayableName() — {comment} | 11.21.17 @ 10:19
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Answered by

Darren Smith
Darren Smith, IFA in Basingstoke, HAMPSHIRE

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