This website is designed to help you find some of the best personal loan offers available.

In recent months competition in the UK loans market has become fierce with lenders fighting each other to appear at the top of the best buy tables. Not so long ago rates of around 7% were commonplace, today rates as low as 4.5% can be found. Use the compare facility to find the cheapest deals.

Shop around before signing up

Most of us at some stage in our lives will need to borrow money. Quite often the unexpected happens and we need to find funds to pay for something we haven't budgeted for. Perhaps your car needs some expensive repairs or you need to buy a new one, or maybe your boiler has broken and needs replacing. Whatever the reason, the golden rule of borrowing is to shop around before signing up.

It's simply not a matter of a trip down the high street to your local bank to sign along the dotted line as your bank is unlikely to offer you the lowest rates. Instead, shrewd borrowers will scour the market to see who offers low interest cheap loans and, more often than not, the best loan rates can be found online.

Find a cheap loan

Choosing the cheapest loan could save you hundreds of pounds in interest charges. For instance if you were to borrow 5,000 over three years at an APR under 6%, your interest bill will be less than 500. On the other hand, it could be anything between 1,000 and 3,000 if you opted to go for one of the most expensive lenders.

You should be wary of gimmicks such as repayment holidays as these will only increase your interest bill, it's worth ignoring these and going for a no frills cheap loan, instead.

Fixed rates

Most personal loans tend to charge fixed interest rates, which means that your monthly repayments will stay the same throughout the life of your loan. This will give you peace of mind and you'll be able to budget more easily than if you had a variable rate. The more you borrow, the more interest you pay, so you should only borrow what you need.

Repayment terms

You should try to keep the repayment term as short as possible with repayments you can afford. The longer you take to repay your loan, the larger your interest bill. For instance if your borrowed 8,000 at 6% over 5 years your monthly repayments would be 154.66 and the total you'd repay would be 9279.24. This would mean you'd pay a total of 1279.74 in interest charges. However if you borrowed the same amount over 7 years, your monthly repayments would be lower at 116.87 but your total interest charge would be 1816.95, which is 537.21 more in interest charges.

Flexibility

Its wise to avoid lenders who charge a penalty for paying off the loan early. A flexible loan will enable you to make overpayments should you choose, allowing you to clear the loan early without suffering a penalty. You can save yourself time and money when looking for a personal loan by using our compare facility. You'll find some of the best personal loan deals on the market listed.