Unsecured Loan

[KingRichard]

Is there anyone who can tell me off the top of their head the cheapest rate at the moment? I thought Northern Rock were banging one out for the mid 5's

I need about £10-12k to replace the car and use as a deposit for a house I want.

Might save me some searching if someone knows :)
Cheers

Dave

[AlexH]

Have a look here:

www.fool.co.uk

They have a list of all the cheapest loans out there.

[silversun]

Or www.moneyfacts.co.uk

The only problem with some of these low rates is that only a small percentage of customers get them. I applied for a loan with Northern Rock at about 5% and they knocked me back.


>> Edited by silversun on Wednesday 14th September 07:39

[Egbert Nobacon]

KingRichard said:

Is there anyone who can tell me off the top of their head the cheapest rate at the moment? I thought Northern Rock were banging one out for the mid 5's I need about £10-12k to replace the car and use as a deposit for a house I want. Might save me some searching if someone knows Cheers Dave

Most of these types of loan quote a typical APR. The actual APR you end up being quoted depends upon the amount you are borrowing, the length of loan and the quality of your credit rating / financial position.

[LuS1fer]

The lowest one I had was Northern Rock (but that was £25k) but Abbey gave my Mrs a lower rate but we have a mortgage with them (still unsecured). Just took out one with Cahoot for a conservatory and it's 6.2% though they advertise 5.8%. I think the Northern Rock loan is best as you pay off interest and capital all through the loan and so any settlement figure is lower if repaid early.

The Cahoot loan was the easiest one I ever applied for as I have a Cahoot card. You go on the website, tap in your details and they tell you how much they'll give you and then send the forms, sign them and bingo, you're done.