For Your Protection and Peace of Mind
All our loans & procedures are approved and qualified by our fully experienced compliance team to ensure they meet our high standards and comply with all current regulatory requirements
 News |
|
Search Categories |
| Archive News |
Cheapest loan 'not always the right loan'
Consumers seeking personal finance support for new homes are being urged to shop around when looking at available loans on the market.
While most individuals looking for homeowner loans will compare the headline interest rate repayments, experts say it is important that a comprehensive review of the available offers –complete with the small print – is conducted.
Evolve Financial Planning's Jason Witcombe says that customers should either engage an independent financial advisor or be scrupulous in the way they study the loans on the market.
Mr Witcombe argues that there are problems with trying to take a simplistic approach to comparisons.
"There is a danger of trying to oversimplify financial products," he explained.
He added: "If products are commoditised and put into bracket where they are as cheap as possible, consumers will not necessarily get the most suitable deals."
According to Mr Witcombe financial advisers can offer key gains when navigating the market, making it easier to identify the best all-round deals for homeowner loans or personal loans.
With household bills continuing to increase as energy prices rise, finding the right loan is one way of offsetting the extra costs.
News that council tax rates in England are to rise by 4.5 per cent on average from April is only likely to exacerbate the situation.