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New loan rules will change, to 1 February 2011

New loan rules will change, to 1 February 2011

Depending on your circumstances you may want to apply before the changes
come into effect, others can wait out, so come enjoy the changes

Reason to go too fast: Fewer people are not accepted

Currently 66% of applicants mean the representative of the variable interest rateadvertised "by banks, but the new rules, that these are kept to a minimum of 51%,your chances for the top prizes will go down. See more in the MSE news story.

Reason to wait: The prices can be competitive

We do not know what to do with loan rates, but may receive a reduction in the numberof candidates to the typical APR means that prices fall. So top credit scorers may want to play on the prices down.

Reason to wait: Option to early partial repayment

The new rules mean that you will be able to partially inflated payments on loans forfirst February made banks you can make for this fee, but only up to 1% of the amountto be paid back (if the loan for over a year) and 0.5% (if less than one year). If thisappeals to you can wait to apply.
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