Beware of Money or Loan Comparison Sites…
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.
How Else Can I Compare Loans?
The best way to compare loans is not to apply online but to speak with a specialist loan advisors. They will search for the cheapest loans based on your individual credit score and personal circumstances, where your loan application could be 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.
To speak to one of our Refused A Loan advisors immediately, call today on 0800 048 1769.
LOANS MAY BE SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE 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.
Refused A Loan is a trading style of Ask Finance Ltd (Registered in England and Wales. Company number 4229724), a wholly owned company of the Harrington Brooks Group Ltd. Ask Finance Ltd 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 Ltd is authorised and regulated by the Financial Services Authority - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.