- 16
- May
By improving their credit rating consumers could develop better access to an affordable personal loan, it has been suggested.
Writing on the Money Pages, Ariane Buteux claims that by following a series of tips borrowers will be able to have a healthy credit rating.
She claims that as a credit report is "key" for lenders in determining whether to grant a loan and what interest to charge, borrowers should make sure the document is kept "up to date and accurately reflects your circumstances".
Ms Buteux also advised applicants to be honest when looking to take out credit as lying could cause difficulties in any future attempts to get a loan.
However, those struggling with debt management were advised to contact their creditors to agree a suitable repayment schedule.
Earlier this week, moneysupermarket.com claimed that the difference between the base rate and interest charged on the most competitive personal Loans is at its cheapest for four years.
As a result borrowers could be gaining increasing access to Cheap Loans.
Interfinancial providing you with breaking general loans news.
