Will my credit rating stop me getting the cheapest personal loan?

If you have had problems in the past, you may not be eligible for the cheapest personal loan as you will not meet the loan's requirements. Often the cheapest loans are given to people with the best credit ratings - as a result the rate you're offered may be higher than the advertised rate.

Sometimes the lender will try and offer an alternative loan with a higher interest rate. The rate you're offered will also vary depending on how much you borrow and how long you want to repay the loan over. Make sure you do another comparison to see if you can find your cheapest personal loan with another lender.

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