Loans Section

Cahoot Cuts Loan Rate To Just 5.6% - 2 to 7 Years

January 2006

Cahoot the internet bank has cut its loan rate to just 5.7% and this is hard to beat. Terms are for between 2 and 7 years and amounts of £5,000 to £20,000. This is an unsecured loan as well.

Your Credit Rating Will Have To Be Good

However, in order to qualify for the loan you're going to have to have a pretty spotless credit rating, ie no late payments, no defaults and certainly no County Court Judgments (CCJs). And this is why it's so important to work hard at making sure your credit rating is good. Having a clean credit rating gives you access to financial options often at the lowest rates.

For example, someone with a bad credit rating might only be able to borrow money at 10% or higher, and even worse may be forced to deal with those dreadful 'debt consolidation' companies that advertise on satellite TV.

• To get help on improving your credit rating see this article
• Also - A Quick And easy Way To Start Improving Your Credit Rating

Summary

If you need to borrow money then Cahoot looks like the best deal available. But the AA is also competitive at 5.8% for £5,000 to £20,000. See links below for further details.

PS. Be Wary of Payment Protection Insurance (PPI)

PPI is one of the biggest profit earners for the banks and for most people it's not only worthless but also incredibly expensive. However, if you do need PPI then make sure you read this InvestorProfit.com article as it shows you how to get PPI at greatly reduced rates - Click Here

See Also

• Cahoot Loans at 5.6%
• The AA loans at 5.8%
• How to get cheap Payment Protection Insurance (PPI)
• Find's list of all Loan Offers