|
How much interest will I have to pay?
The lender determines the level of interest charged. The terms of the loan will be outlined in
to you in advance of you making a formal application. Due to large number of the potential
lenders it is always wise that you consider the loan terms from a number of lenders before
deciding upon the one to proceed with. The savings available by shopping around for the best
loan deal can be substantial especially on longer-term loans.
The interest rates charged by the different lenders can be compared by reference to the
APR (Annual Percentage Rate) charged. There is a legal requirement for lenders to provide
details to the APR under the Consumer Credit Act 1974.
|
