Borrowing more could be cheaper by Finance News Bulletin

Published: 30/01/07

Taking out better loans could actually work out cheaper for consumers in the extended term, according to new research conducted by the consumer finance site Findcoukconnecting to the personal loans market, Find

couk discovered that in universal, it was the lowest tiers of loan that required the main repayments in terms of ratesBy borrowing £4,950 from Co-operative Bank, the client is required to get together an APR of 169 per cent, however, by addition an extra £5 to the loan, the APR was found to fall to 6

9 per centThis happened with other loan providers such as Direct Line Personal Loans, where an extra £5 borrowed resulted in a economy in excess of £1,000Kate Marsden, marketing director of Findco

uk, supposed: "Borrowers should take mind when choosing the size of loan they want, as a little attempt in researching the interest rates charged on dissimilar tier levels could save them a considerable amount of money"For customers to engage in recreation it safe in the loans market, they should look for a normal interest rate, according

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