These might be the best option if you want to reduce your monthly costs. The downside, of course, is that it will take you much longer to settle the debt, and over that time you may pay more in interest. Looking at a £10,000 loan for ten years, the price comparison site gocompare.com suggests these:
- Tesco Bank with a representative APR of 5.3%, but it comes with an early repayment charge.
- Masthaven offers 5.7%, but you are not allowed to use this service for debt consolidation.
- Precise Mortgages offer 5.7% as a homeowner loan and requires a maximum loan to value of 65%.
|Other Types Of Loans|
|Debt Consolidation Loans|
Home Improvement Loans
Joint Account Loans
Short Term Loans
Bad Credit Loans
Long Term Loans
Low Interest Loans
Simon Young was a journalist for 20 years, becoming a news editor on national newspapers including the Sunday Express. He went on to lead the teams at one of the world’s largest online companies before setting up Magic Word Media.