There are several types of interest that borrowers and lenders encounter in various financial transactions. Here are some common types of interest rates explained. Interest Rates Explained – Simple Interest You calculate simple interest based solely on the principal amount of a loan or investment. It does not take into account any interest that the […]
Interest rates can have a significant impact on various aspects of your financial life. Here are some ways how interest rates affect you. How Interest Rates Affect You – Borrowing costs Interest rates determine the cost of borrowing money. When interest rates are low, it becomes cheaper to borrow. This is true whether you’re getting […]
The Bank of England continues to utilise its authority to combat rising prices, which has resulted in a dramatic increase in interest rates. The Bank raised its benchmark rate from 2.25 percent to 3 percent. The rate has now reached its highest level in 14 years as a result of the eighth straight hike since December. It might […]
With interest rate rises just another way the economy is hitting UK consumers hard, we took a look at what is involved. Base Rates The base rate is the interest rate that the Bank of England (BoE) establishes. The current rate, which governors established at 1.75% on August 4, 2022, represents an increase of 0.5 […]
Advertising is a multibillion-pound industry with a proven track record of success. This is also true in the area of personal loans. In a crowded market, every cent counts, and a competitive interest rate is the primary incentive for potential borrowers. Rates splattered on your screen in large characters. However, this is not the rate […]
It is an aspect that many overlook when searching for credit. Namely, how much extra will they have to pay back. And key tot his is not just the repayment period but the interest rate attached to the loan. Many do not understand the true intricacies of these added charges, so here is the lowdown […]
Advertising is a multibillion-pound industry with a proven track record of success. This is also true in the area of personal loans. In a crowded market, every cent counts, and a competitive interest rate is the primary incentive for potential borrowers. Rates splattered on your screen in large characters. However, this is not the rate […]
There is a misconception with some that a lender offers a set rate to any borrowers they decide to accept for credit. But that is not strictly true. What’s more, any individual can apply for two different loans and get different rates from separate lenders. But why? We examine why lenders offer varying interest rates. […]
When sourcing a loan, a look at interest rates is an integral part of the process, key to everything you do. Because that is the key aspect of whether it is worth your while to take on extra debt. You need to be able to pay it back and get a competitive interest rate. We […]
At Moolr, we are committed to finding loans at competitive rates for those that require them. But we are equally committed to not providing loans when we think they should not be supplied. And we always try to minimise the extra costs that inevitably come with a loan, even if it costs us money. So […]
We talk a lot on this blog about how to reduce your debt. What we haven’t spoken in detail about is how to deal with debts that you cannot get rid of. For many people that is simply the state of their life. Hence we thought it a good time to look how to deal […]