The temptation on a Money Comparison site is to always apply for the lowest APR loans.
But the hidden danger here is that if you have a poor credit rating or have been refused in the past, you have a higher chance of having your loan application declined. The lender will carry out a credit search on you which will leave a 'footprint' on your credit file.
Multiple searches recorded against your name may affect your chances of obtaining credit in the future. This is a vicious circle that can be hard to break out from.
The best way is not to apply online but to speak with one of our specialist loan advisors. They will search for the cheapest loans based on your individual credit score, where your application is less likely to damage your credit file.
If you fill your details in on our website please be aware that you are not applying for a loan, instead you are providing us with basic information so that we can contact you to discuss your options.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 8.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.
RefusedALoan.co.uk is a trading name of Ask Finance Ltd, which is registered in England and Wales (company number 4229724), Jackson House, Sibson Rd, Sale, Manchester, M33 7RR. Ask Finance is licensed under the 1974 consumer credit act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.