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Reduce the stress of moving by finding a personal loan to ease the financial burden. Compare offers with Savvy today.
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It's a crucial part of the personal loan process to compare different offers, but you'll have to know where to start if you want to maximise the quality of your product. Interest rates are perhaps the most important aspect of a personal loan to compare, but it's arguably more useful to consider its comparison rate. This figure accounts for both interest and fees, painting a more accurate picture of the cost of your loan. Additionally, you should always prioritise loans which meet your requirements regarding borrowing range and potential loan terms, as you shouldn't sacrifice your repayment comfort. Finally, you should look for loans without early repayment fees.
Realistically estimating your expenses can help you adequately finance your house move. You will have to consider costs such as hiring removal specialists, paying off the stamp duty and possible fixtures or renovation your next house might need. Planning in the form of a budget can help you avoid under or overspending. There is also the finalisation of ownership over a property that can come with fees from conveyancers, evaluators and more that you may have to consider to better prepare you. Always keep in mind to research the costs of relocating beforehand to avoid being overwhelmed financially.
When moving house, it's often a priority for things to be completed smoothly and quickly without any great hassle. As such, there are things you can do to speed up the processing and approval of your personal loan. You should always have your documents ready to go. If you're unsure of what you'll need, you should be able to find out on your lender's site, but in most cases it'll be photo ID, your last two payslips, a record of assets and liabilities and possibly 90 days of bank statements. Even something as simple as applying earlier in the day or week can make a difference.
When it comes to the selling of your existing property, there are a few things that you need to consider. For example, involving the skills of a real estate agent or an accredited appraisal officer to help you get an accurate assessment on what your house selling price will fetch on the market. This will help you avoid the common mistake of over estimating the sale price of your existing property, which can cause you to fall short on the amount that you need on your loan. Having a team of professionals can also help you form realistic estimates of their values, which in turn will help you more accurately find the loan amount you need.
Personal loans come in all shapes and sizes, so read more about the ways you can use them, as well as how they might work for you.
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