Using the internet to apply for a secured loan is a fast and easy way to obtain a UK loan quote. Most peoples goal of applying online is to find the best rate possible without having to fill out dozens of forms. This article explains why it is not advisable to fill out numerous online applications as it can be time consuming and can potentially be hazardous to your credit score. There is a better way to apply for a secured loan online that instantly compares hundreds of loan option with a quick and easy form that does not require an initial credit check.
Almost every company that offers secured loans will have some kind of online application form. Be aware that these companies want your business and do not want potential customers comparing their rates with those of other lenders. To find the most competitive rate, it is advisable to use a good comparison site that will instantly provide interest rate comparisons for all the major lending companies.
When applying for a secured loan online, one must also be aware that some companies will perform a credit check when you submit your information. Before submitting any form online, check for any of the following: any kind of accepting of terms check box, a declaration statement or a DPA statement. Many times these terms will be small or a clickable link with an already pre-checked check box next to it. If a companies website has any of these accepting of terms, you may be unknowingly granting permission for a credit check to be performed. Having multiple credit checks performed in a short period of time can adversely affect your credit score.
The best way to compare UK Secured Loan rates and quotes is to use the services of a good comparison site. This type of site will allow you to apply for a secured loan with a quick and easy form. The advantage of this kind of online application is receiving multiple quotes with one form, no search fees, no obligation and no initial credit checks.
By doing some initial research and being selective with how you apply for a secured loan online, you will be able to save yourself a lot of time and money.
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