This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com. For more information on caravan finance or to secure other asset finance such as a boat loan, contact National Loans. SOURCE National Loans
On the other hand, variable rates will fluctuate depending on the market, which can result in higher or lower monthly repayments. Variable-rate loans also offer additional features such as redraw facilities and early repayment options, which can potentially save a borrower money over the life of a loan. Additionally, National Loans says secured caravan loans attract lower rates than unsecured caravan loans. If a borrower chooses a fixed-rate loan, the interest rate will remain the same throughout the life of the loan, which means the borrower’s monthly repayments will also stay the same.
As an expert caravan loan broker, National Loans does all the hard work for borrowers to identify a loan that matches their needs, with a great rate secured from their panel of specialist bank and non-bank lenders. While there aren’t necessarily ‘typical’ caravan loan terms, there are some general rules according to National Loans. In general, a better credit score, shorter loan term and newer caravan will help a borrower secure a lower rate.
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