Cheap personal consolidation loans - do they exist ? Part 2

. Application fee
. Loan processing fee
. Recording fee if collateral is pledged

Hot Topics

Is the price I get quoted for life insurance the price I get charged?: We are afraid the answer is “it depends” upon many factors.
Will my life insurance premiums increase over time?: The answer to this question depends upon whether you have a normal “Guaranteed” policy, a “Guaranteed indexed linked policy” or a “Reviewable” policy.
Will I get charged more as a smoker?: Yes you will. But first let us give you the usual Life Company’s definition of a smoker:
Does a UK Life Insurance policy work abroad?: Life Insurance contracts offered by UK Life Companies are legally constructed to apply to people living in the UK and can be sold only to a UK resident at the time the policy is sold.

All of these add to the cost of the loan, and what was originally a cheap consolidation loan now may be just as expensive as ( life assurance ) the others you researched with higher interest rates.

How to avoid making a mistake

When you're looking for a cheap consolidation loan, it's important to know just what the lender is going to charge you for processing the loan and issuing the proceeds. Before you begin the application process, make sure you ask the lender everything that he will charge you for the loan so that you will have no surprises when it comes time for you to sign the contract. As long as you know everything up front, if anything is different when you sign the contract, you can bring it up to the lender, and if he is not willing to change it, you can refuse to sign the contract, and thus the loan is cancelled. If you wait until after you sign it, and ( remortgages ) the funds are distributed, you are bound legally to the terms unless they violate a law. To make sure you get a cheap consolidation loan, read the contract in full before you sign anything.