Choosing A Personal Finance Company
Personal finance without advice can be a minefield, and just because you don't have the financial experience that age brings doesn't mean that you should be left in the dark.
There are three main ways to obtain a loan.
1. The High Street Method
Firstly, the traditional high street method. You can simply visit all the banks on the High Street. Each of them will interview you in turn, find out what you're looking to lend, what you're looking to use the money for and how you intend to pay it back. This can all take time and there's obviously a lot of form filling involved.
2. The Independent Broker
The second is to obtain the services and personal finance advice of an independent broker (like ourselves). They will visit you (we can give you advice over the telephone) and find out all about your personal circumstances, what you earn, how much you want to borrow etc. In fact, they'll ask you similar questions to the banks. The difference, however, is that once they've got all the information, they have hundreds of companies they can go to - most of which you'll not find on the High Street - to find the most suitable loan tailored to your own individual circumstances. Because they are independent, they do not have to be loyal to any particular institution - unlike the banks - as they receive commission from whoever you decide to take the loan with. They can save you time as well as money, however, as they do all the legwork.
3. The Internet
Then there's the Internet. There are plenty of websites where you can apply for a loan. Forms are completed online and you can often get a decision within 15 minutes.
There are also a number of loan comparison sites and consolidation loans companies to save you even more time which can calculate how much you would have to pay back and over what length of time.
You should remember, however, that the annual percentage rate (APR) - though a good indicator of the cheapest loans - is not always available to everybody so it's important to do your calculations before applying and find out what rate applies to you specifically. The rate offered is usually related to your credit profile, so understanding your own history of lending will put you in the picture before you start getting loan offers. Our team can help you do that when you apply to us.
To apply for a personal loan with free advice (apply and we will call you back for a free telephone enquiry), please click here