Research reveals homeowner loan lottery by Finance News Bulletin

Published: 27/02/07

One in six people in the UK who take the time to contrast loans and find the best rate homeowner loan are not obtainable the rate they apply for, says new researchThe number who were refused the best rate proprietor loan that they applied for and were offered a higher rate instead rose to a district of those aged between 30 and 50Best rate homeowner loan researchers speak that the results have revealed the "draw" of the UK credit system, where 93 per cent of homeowner loan providers offer "characteristic" loan best rate deals calculated on a price for danger basisA district of those polled said they have previously been refused proprietor loan borrowing

Of those refused, 61 per cent found that they were then offered the best speed elsewhereResearchers have warned people who contrast loans that the number of refusals shown on their praise statement may increase the cost of obtaining homeowner loan creditCredit companies at present only have to offer their most excellent rate to 66 per cent of homeowner loan applicants, and do not have to reveal their higher tax until an application has been made"As our research shows, there's a lot of bewilderment and even embarrassment when applying for credit," supposed best rate analyst Stuart Glendinning "Any consumer can contrast loans, no matter what their individual credit profile is

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