Whether you need a loan to fund a shiny new conservatory or the car of your dreams, in all the excitement it may be tempting to instantly sign any papers that are placed in front of you.
But failing to check the small print of a loan agreement could land you in hot water. For instance, the representative APR promoted by a lender in its adverts may not be the same as the rate you’re offered – rates can vary depending on your personal circumstances. You could pay much more than you bargained for if you don’t take the time to read through the key terms and conditions.
However some providers will show you a personalised rate before you apply, meaning that you know exactly what rate you will have and your monthly repayment so you know what product you are signing up for before you are credit scored.