Who's got the best loans in Britain?
When you compare the various loans UK customers can get, there are some clear winners: supermarket banks and Internet-only outfits in particular. However, they're not the only places you can get good deals. Many high street banks have special Internet-only offers that can cut the cost of borrowing.
We've spent a lot of time looking at the loans UK firms are offering, and some clear trends emerged: in particular, the high street is taking a hammering. Some of the best products come from unusual lenders such as Marks & Spencer, Tesco or Sainsbury's, together with Internet-only companies such as Smile and Cahoot.
The other thing that's apparent about the loans UK customers can apply for is that it helps to borrow a decent amount over a reasonable period of time. Borrow less than £3,000 and those attractive APRs become a lot less desirable, with rates as high as 20% from some lenders for sub-£1,000 loans. People with poor credit ratings aren't invited to the party either, although there's a growing number of firms willing to gamble on high-risk borrowers. Inevitably these firms charge more than the best-buy lenders because they're lending money to customers that are far from safe bets.
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