Do all loan companies offer the same, or is it best to shop around?

There are simple hundreds of loans deals around the UK loan market it very busy, so it’s best to shop around, loans with the lowest apr may not always be the best one for you, so make sure you check all the loan terms before you go ahead.

How does A1Credit help?

From the information you provide our comparison page will work out which of the loans available is suitable for your circumstances, and will provide you with a list of deals. You can select any deal and this will take you through the application process.

Is applying for a loan difficult?

The application requires some personal information such as your address and bank details, so that the lender can perform a credit check. The only complicated issue is chosing which lender to apply for. However all the information that the lenders provide will help you make a decision.

Will my loan applications be turned down?

Your application may be turned down depending on your financial circumstances, the lenders usually check with credit referance agencies to make sure providing you with a loan will not be a risk. If you have a good credit record you probably wont have anything to worry about. However remember that the credit check is based on a fair amount of information such as the following.

The value of your house, the area you live in and the electoral register.

The amount of credit cards or loans you have been turned down for in the past.

Late payments on credit cards, loans and general bills, etc.

Any county court judgements that are recorded against you.

Can i apply for a personal loan if i have adverse credit?

If you have adverse credit or feel that your credit rating is poor you might well be only elligable for a more expensive rate. You must specify that you have bad credit at the time you apply. If you're not sure whether your credit rating is poor you can contact the credit referance agencies for the details. You can check your credit rating here. However if your credit rating is fine you should be accepted for a loan.

Are internet lenders cheaper than high street banks?

As a general rule, internet lenders tend to offer lower APRs. This is mainly because they have smaller overheads than the high street banks. However this is not allways the case with high street banks having to compete with the ever emerging internet lenders.

What can i do to improve my credit rating?

Resist running up more debts, you should apply for a new credit card, keep your balance very low, and make regular payments. And if possible pay your balance off completely each month.

Take out a consolidation loan to pay off all your debts. This will consolidate your finances into one payment and may even cut your interest payments if you can find a cheaper deal.

Make sure that you are on the electoral register, and that your address details match all of your account statements.

Order a copy of your credit file and see where any problems reside.

Set up automatic direct debit for the minimum card payments, loans, utitility bills, council tax, household bills and anything else you usually pay monthly, this will show that you're keeping your payments up to date which will reflect well on your credit rating.

What can you tell me about debt consolidation?

If you have several credit card balances and an overdraft adding up to over £15000, then taking out a low rate loan of £15000 will allow you to pay off all the debt and leave you with a single monthly direct debit payment from your current account to pay this loan off. This would simplify your finances and will probably reduce your interest pamyents.