How to run a loan comparison

There are a variety of reasons why people take out secured (homeowner) or personal (unsecured) loans, ranging from a new car or home improvements to the need to consolidate existing debts.

Why compare loans?

With such a huge variety of loans on offer, it's important to get a loan comparison to find the right one for your needs.

Depending on which loans you want to compare there are a number of factors to be taken into account:

• the interest charged on the loan

• early repayment charges or penalties

• personal circumstances that could affect your ability to pay

In addition, for secured loans we need to ask you some questions relating to your property and any borrowing against this property. This will produce a more accurate and tailored set of results.

Use our loan comparison service and we’ll use all these factors to find the best loans for your circumstances.

Loan calculator

Our loan calculator can help you work out how much a loan is going to cost you. It gives you:

• Your monthly loan repayments

• Total cost of the loan,

• The lifetime APR

Set how much you want to borrow for and how long for, and see the rates currently available.

How to use our loans comparison service

Comparing loans with us only takes a few minutes. Our loans comparison service compares all available lenders, including high street and internet providers.

All you need to do is decide whether you want to compare personal or secured loans, how much you want to borrow and provide a few personal details. Your results are sorted in order of the monthly repayment for each loan, but you can order them in other ways depending on your priorities.

Read more …

• Credit unions | What is a credit union? Uswitch explains

• Secured Loans | Find information about secured loans

• About unsecured loans - Uswitch price comparison