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These costs (known as search and switching costs) may be explicitly financial (for example, the fee charged by an independent financial adviser), or may be less tangible - for example the time and effort required on the part of the consumer, and the potential stress and uncertainty involved... Some of the lenders offering second charge mortgages will only lend to status borrowers with a clean credit history... One of the key issues about certain forms of loan is that of turning unsecured debts into secured ones... At the beginning of March 2004, a borrower with a good credit record could more than halve the cost of credit on an unsecured loan offered by one of the major high street banks, by choosing an alternative provider.56 The failure to shop around when there are many alternative providers can therefore substantially increase the cost of borrowing... http://www.homeowner-loan-1.co.uk/loans
If so, what happens at the end of the special deal period?... In three years' time a new loan would be required on top of the existing loan to replace the car... http://www.1stepfinance.co.uk/loans