Worth going to broker for loan?

Mean_Green

Is it worth going to a broker or speaking to a Financial advisor to get a good rate loan. Can they source deals that are not available to the 'public'?

I am looking to borrow up to a maximum of £8k. I should have decent credit rating and know roughly how much is should cost me. I just want to get the best deal possible.

Any advice?

DCFC79

Your credit rating won't be taken into account as no lenders see it, your credit history will be taken into account along.

Clive_Woody

Mean_Green wrote: »

Is it worth going to a broker or speaking to a Financial advisor to get a good rate loan. Can they source deals that are not available to the 'public'?

I am looking to borrow up to a maximum of £8k. I should have decent credit rating and know roughly how much is should cost me. I just want to get the best deal possible.

Any advice?

From my limited knowledge I doubt it unless you have unusual circumstances.

Most brokers that I have heard of are essentially a bunch of scam artists who charge you a fee to pass on your personal information to a load of pay-day lenders who then harass you for years to come.

The usual advice is to try your own bank first or alternatively there are lenders who allow you to complete a soft search (no record on your credit file) where you get an indication of whether they might lend to you and what rate you might get.

Mean_Green

Thanks for the quick replies. So its best just to play around with sites like money supermarket etc and see what it throws up.

Clive_Woody

You could try the checker on here. I've never used it but normally they are well put together on MSE.

http://www.moneysavingexpert.com/eligibility/loans-calculator/