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01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
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Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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News
06/10/2010 16:56:10
Financial advice to find a good loan?
Financial advice might help Britons find a loan, as one expert notes favourable terms are available if consumers put in the research.
Taking financial advice could help people benefit from good conditions, as Chris Griffiths, head of personal loans at Confused.com, notes factors such as the term of the advance should be considered, rather than just the up-front fees.
The wealth management specialist suggests 'shopping around' can make borrowing money more affordable, with issues such as payment holidays and charges for early reimbursement also important to consider.
He advises: "Customers should think about the purpose of the loan and only borrow the amount they need before making a commitment, as any extra borrowing will incur extra interest."
Sainsbury's Finance recently revealed the average loan rates on an advance of £5,000 have increased almost 17 per cent in the last two years, suggesting financial advice might be essential before making such an important move.
