fast_ford_uk

were has the cheapest rates at the moment, just after a small loan, am not a home owner tho. hsbc is 19%

StephenC

losers on our estate take loans out at 125% !!! unreal
Think the best at the moment is northern rock, was for me anyway

paulb81

with small loans the rates are always around 15 - 20% to make it worth there while, theyl still only make 50quid on it or summat.

Just get a 0% credit card and pay it off in a year, voila !

Rab

125%


Who's that with? Honest Bob's no leg-breaking loan Co?

fast_ford_uk

50 quid your joking right, i wanted 2.5k and at 19.9% they want just over £500

edited to add

Tangodeltasierra3

Check out money supermarket.com etc

fuzzy

halfax/BOS did a small loan for me at 10.4% .

donny murdo

Sainsburys 8% fixed rate

RWD_cossie_wil

iTrader: (9)

0% credit cards mate get 2 to spread the balance, HSBC are doing 12 months interest free - I borrowed £6000 to do my pilots licence, and paid them all off in 9 months, and paid £1.64 in interest, cos I fucked my last payment up and I still had £10 outstanding when the interest free period was up

Eagle

iTrader: (2)

one on the telly the other day was at 3500%

fast_ford_uk

just tried em 12.9 % if under 4k cheers anyway

fast_ford_uk

nice 1. that rockford place is 6.5%

Harris.

Sainsburys are good






Shit just seen above

jaimesdna

iTrader: (3)

have a look here http://www.autotrader.co.uk/CARS/loa...nce_centre.jsp

donny murdo

Unfortunatley with these rates what you see is not always what you get. The word 'typical' is crucial as thats what is banded about in adverts etc. Depending on the loan amount and your personal circumstances it may be that when you apply for the loan at say 8.5% but your circumstances dictate that you get a loan rate of 13.0%

Best of luck with it.

Chip

iTrader: (3)

If I leant you a tenner tonight for a taxi home, and said when you saw me tomorrow back in the pub to buy me a drink to cover the interest and my admin charge for lending you it, that would be far more than that.


Likewise if I leant you fifty quid at 10 percent interest so you paid me back 55, and then if i had a 20 quid admin charge, you would be talking about 50% or more.


This is the thing with APR, it takes into account any and all fees, so on small loans it ALWAYS looks horific or its just not worth doing for the lender, no one wants to lend money and have all the admin involved only to make 47P out of it, they would lose money by the time they paid their staff.


So 100% APR or more is very common on small scale lending.

Chip

iTrader: (3)

Any advert that conforms to the regulations that work "typical" is used accurately.

I forget the exact details but its something like 60% of all loans must be at that rate or cheaper for them to use it.

So its not a con like you are implying.

donny murdo

Im not implying that this is a con, Im simply relaying the experiences I have had when it comes to formally applying for small loans. Its not a con but if you apply for a loan of say £25K then you will pay the rate quoted however if you borrow £5k then the asterisk beside the word typical applies. As I say I am just talking from my own experience. It always pays to read the small print

Chip

iTrader: (3)

Fair enough mate.

Yes for the reasons I have above, the APR will ALWAYS be higher on a smaller loan if the flat rate and fees are the same (the exception being when the fees are zero of course!)