Describing themselves as "the UK's leading finance brokers", Easy Loans offer homeowners loans from £3,000 to £1,000,000 at interest rates ranging from 7.7%. However, the rates you get are likely to be higher: the example on the Easy Loans site suggests that a loan of £10,000 attracts a variable APR of 10.9%.
About Easy Loans
On the face of it, Easy Loans has a simple proposition: if you're a homeowner, you can borrow up to £1 million at an interest rate of just 7.7%. However, on closer investigation you'll see that the quoted rate only applies if you're borrowing more than £25,000.
The rates at Easy Loans aren't bad, but they're not brilliant. Loans under £10,000 attract an APR of 10.7%; under £15,000, 9.5%; and under £25,000, 8.4%. All those rates are variable, so if the base rate goes up you could be in for a nasty surprise.
There's nothing particularly wrong with Easy Loans, but unless you're a problem case you'll almost certainly be able to get a better deal from one of the supermarket banks or online banks. Even the high street banks offer better deals: for example, Abbey National's homeowner loans have APRs of 5.1% and 5.2% while Sainsburys 6.9% APR is fixed for the term of the loan.
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