Here at Moolr, it is our job and our passion to source loans for those considering borrowing money. But that does not mean that there is nothing for you to do. Before we even think about sourcing you a great deal, you need to ascertain exactly what you want and why. You should always be in control of the process. Here is what to look for when sourcing a loan.
As already mentioned, the requirements of a loan are your responsibility. And the first big decision to make is to be clear on how much money you wish to borrow. It is important that you borrow what you need, and not a penny more. This is not free money, and you will have to repay every penny with interest. So work out what you require, and take it from there. This is not an opportunity for you to have a little or big treat. A loan should be an item of necessity.
There is a large market for loans, so you should always do your research and see what is out there. However, we at Moolr can serve that purpose for you. It is our function to offer you the best deals on the internet in one handy place, saving you time and stress. That is what we do – we put in the hard work for you. Nevertheless, we are not here to pressure you to utilise our services. So we still suggest you take a look at what is out there before proceeding with any loan. Consider the terms of the loan you wish to apply for, as that will save you time when looking at what may be available. Compare things like the APR (Annual Percentage Rate), the Total Amount Repayable, and any other charges or fees.
And key to knowing what you want from a loan is being clear on what repayment period you can accommodate. You must strike the balance between paying off the loan as soon as you can, and not over-facing yourself. The monthly repayments must be within your financial capabilities. You do not want to put yourself in a position whereby you struggle with repayments,. Or have to go without essentials in order to make repayments.
Always check the terms and conditions on any potential loan in full. That includes the small print and eligibility criteria before applying. You need to be clear what the APR actually is on your loan. Advertised rates may differ from what a lender offers you. This may be down to your personal circumstances and your credit history. Everyone is not offered the same deal. The best rates in fact are only offered to a select number of customers. Some companies now offer a pre-check that can give you an idea if you will be accepted before applying. This allows you to see what is out there without leaving a footprint on your credit report. Here at Moolr, we too offer a no-obligation quote.
Before applying or accepting a particular line of credit it is always worth researching the various fees or charges a company may impose. Some may not be clearly marketed, so you must be thorough. There may be fees away from the normal process to, such as fees for early repayment of a loan. So if you think you may wish to in the future pay off a loan early, you must be on top of hidden fees like this. Again, always read the terms and conditions fully before signing any financial contract. Additionally, many companies will submit a Late Payment Fee or Default Fee if you miss a payment. Moolr, never charge extra fees or rates. What you see is what you get. There are no hidden charges or underhand tactics.
Most of the time you will leave a footprint each time you apply for a loan. Lenders will look at your credit file before approving/declining the application. Having a large number of footprints on your credit file can have an adverse effect on your application and may make you seem higher risk. It may portray to lenders a desperation if your report is littered with applications. As a result, any subsequent attempts to gain credit will be less likely to succeed.
Moolr are a loan broker who offer a wide range of loans, with many repayment periods. Check our home page for full details. We offer flexible loans tailored to your individual needs.