Following recent reports of a dramatic increase in the levels of unsecured lending, the team at Money Mole have assessed the effects of this and issued advice on how to seek the most recommendable loans.
(PRWEB UK) 27 May 2012
It has been announced that the percentage of people being offered unsecured loans is on a steep upwards curve. This has caused alarm among many, but the team at Money Mole have provided suggestions on when and where secured loans are appropriate and how to reach the right agreement. One member of the team offered this guidance:“Through our price comparison site, we allow our customers access to the whole market, and we’re able to put them in touch with the most reputable companies offering the best rates for secured loans, based responsibly on the consumer’s personal demographic”.
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Where the lending of unsecured loans used to be dominated by small lenders, large banks have become increasingly eager to grant these facilities to even those with a poor credit history. The team at Money Mole are strongly suggesting that their users give serious consideration to their own financial situation, and the long-term effects of unsecured loans before making any decisions. While many people find the service incredibly useful, it is not advisable to base your eligibility purely on the advice of your loan provider.
- In order to avoid finding yourself in a contract with an irresponsible loan provider, always conduct your own research before signing. The financial experts at Money Mole have also recommended being wary of companies who do not appear to be selective in any way in the process of offering loans or who appear to target students. The recommend always selecting a company who are willing and able to provide all relevant information regarding terms and conditions as well as on customer entitlements.
- Money Mole have advised anyone looking into the prospect of taking out an unsecured loan, not to panic upon hearing this news. When taken out responsibly, and for relatively small amounts of money, these loans can be a really effective relief from financial struggle. Unsecured loans also normally involve lower interest rates, often with a typical APR of around 6%.
Based in Essex and London, MoneyMole is one of the UK’s leading price comparison sites. Specialising in allowing their customers access to companies offering a range of financial services including the arrangement of secured loans, unsecured loans, re-mortgage, or life insurance, the firm have a trusted reputation for helping people from a range of financial backgrounds.
Ben Austin
Money Mole
0800 088 6000
Email Information
Money evaporates, respect doesn’t’ - Hindustan Times
So how has KBC changed the lives of these winners from humble backgrounds? Season four’s winner, Rahat, says, “The money helped secure a bright future for my kids. I’ve set aside money for my daughter’s marriage and my son’s education. We now live in a better house.” Rahat, however, has managed to stay grounded: “Money evaporates, respect doesn’t. More than half the money I won has been spent, but the respect I won through the show has only multiplied.”
Season One’s winner, Harshvardhan, agrees. The Ghatkopar resident was a 26-year-old finance professional preparing for his IPS (Indian Police Service) exams in 2000. The show changed his life overnight: “Suddenly, I was cutting ribbons and shaking hands with the who’s who of showbiz. It’s always easy to get swayed by sudden fame. I lost track of the IPS exams,” he says, adding, “After nearly two years, I decided to leave everything behind and pursue an MBA in Edinburgh. It was the wisest thing to do with the money I had left.” The 38-year-old is employed with the Naandi Foundation in Mumbai and works on a project for underprivileged kids.
Sushil, last year’s grand prize winner, has already started pursuing further education for a high-profile government job. “Today when I watch the promos, I remember how my in-laws would note down the questions for me to participate in the show. Probably because I have seen the less-privileged side of life, all this money and fame haven’t gone to my head,” he says, adding, “I’m comfortably working today and chasing my career dreams without financial pressures.”
Five seasons down and 12 years since it started, Kaun Banega Crorepati is now gearing up for its sixth outing, hopefully to change a few more lives for the better.
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