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| Friday, April 04, 2008 Flexible loans may be a better choice than secured for those who are looking to borrow money, an expert has suggested. David Kuo, head of personal finance at Fool.co.uk, advised consumers that flexibility is one of the most important considerations when looking for a personal loan. "The option of flexibility will allow a borrower to repay a loan earlier and cut the total cost of the loan," he advised. Additionally, Mr Kuo warned against secured loans if someone wants to make sure that their home is not "put at risk". He also recommended that borrowers look at the total amount repayable and annual percentage rate when comparing loan products. Data from Moneyfacts reveals that personal loan rates have risen by 1.7 per cent during the past year and there have been 27 changes made to such products so far in 2008. Source: http://www.moneynews.co.uk/4504/flexible-loans-a-better-choice-than-secured-loans-/ |
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