This finance related article has been contributed by Best Loans, helping you find the cheapest loans available in the UK, with up to date interest rate comparisons on the top deals.
Manchester is a city with a deep history of investment, from large corporate entities like the Coop, to large internationally recognised brands like Manchester United Football Club, and each and every one of those has been built with some form of loan.
Loans help the world go around, with people exchanging paying a little more on goods, in order to have it right now instead of saving up the cash.
It helps businesses get started on revolutionary new ideas without having to put up all the money themselves, and in turn it helps investors to make a better return on their money than keeping it in the bank.
Let’s go over how people in Manchester can get the best loan deal possible, whether it’s for a home improvement loan, or for a new business.
Beware of Predatory Lending
There have been some horrible stories in the past of people getting into spirals of debt from bad loans such as extremely high rate payday loans. Although the industry is more regulated now, it’s important to be vigilant.
See how to borrow money safely in Manchester at the council website here: https://secure.manchester.gov.uk/info/10050/help_with_debt_bills_and_borrowing/6393/borrow_money_safely
Compare Loans To Save on Interest
When most people think about getting a loan, they only consider using the popular high street banks that they head about from TV and offline advertising, and so these tend to be the ones that monopolise the market on loans.
But there are so many other companies out there!
From peer-to-peer lending, to cooperative loan groups, there are a whole host of other options available for Manchester residents and business owners to get finance for themselves.
One of the most important things you can do when choosing a loan is to compare loan deals online, as you never know where the best rate might be (it could be from a provider who you’ve never even heard of!).
How to find a trusted loan company?
That being said it’s also really important not to go with a company who has a bad reputation, as this could lead to you being unsatisfied with the loan product that you received. Some of the best places to check for loan reviews are Trustpilot pages for the company, as they have a very good review filtering policy which usually results in only real reviews being published, and so the trust rating is a better reflection of how the company operates.
Look out for problems with people getting their money, interest rates not being honoured, or any other shady practice described in real reviews. You can also make sure that the reviewer has reviewed other businesses, as this is usually a sign it may be a real review.
Resources for Manchester Residents
Here are some more resources and advice on getting loan for Manchester residents:
You can get really useful debt advice from the Manchester City Council here.