The Best Way to Borrow Money

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Welcome To The Mayfairbridging
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The Best Way to Borrow Money

• Clearly, the best way to borrow money is to
  choose borrowing that offers the lowest fees and
  interest rates, and that allows you to repay the
  loan at a reasonable rate. Here, were going to
  explore the various borrowing options you have,
  depending on how much money youre borrowing, and
  over what terms.
• Borrowing Small Amounts Up to 1000
• If youre borrowing up to 1000, then youll get
  the best rate if you take out short term loans.
  Short term loans always cost the least amount of
  money because they pose the least risk to the
  borrower they also mean the lender gets their
  money back sooner, and the sooner they get it
  back, the greater their potential to invest, and,
  consequently, the greater their cash rewards.
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• However, with borrowing this small, you dont
  even need to get a loan. Instead, you can get an
  overdraft from your bank. Some banks offer
  interest free overdrafts for people who use their
  current accounts and who deposit a certain amount
  each month (usually between 1000, which is
  effectively a salary).
• DO NOT TAKE OUT A PAYDAY LOAN. So many people are
  tempted to choose a payday loan when borrowing
  small amounts, particularly if they have a poor
  credit rating. However, a payday loan is the
  worst choice. They have the most ridiculous fees
  and extortionate interest rates. It should be
  illegal, because it is usury, but those laws were
  scrapped in the 19th century. Hopefully,
  regulations are coming in that will cap these
  unethical loans well have to wait and see. In
  the meantime, dont take out a payday loan.

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• Borrowing Medium Amounts between 1K and 10K
• Credit cards
• There are some credit cards that allow you to
  have large credit limits, while at the same time
  offering 0 terms for up to 18 months. If you
  know that you can repay the amount youve
  borrowed within the period of the 0 rate, then a
  credit card can represent a free way of borrowing
  money.
• Not only this, but also many credit cards give
  you rewards too. If you can do it, and you only
  need short term borrowing, then this is a great
  option. However, its quite difficult to get
  credit limits at the top end. Usually, if you
  have a credit card with a 10k limit, its
  because you have a good job and a great credit
  rating.

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• Finally, if you do choose a credit card, you can
  always transfer the balance at the end of the
  term. If you transfer to a 0 interest card, you
  can extend the length of the borrowing, without
  having to ever pay a penny. You can juggle this
  almost indefinitely you might run out of credit
  card lenders eventually, but maybe not.
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• Personal loans
• Personal loans are a great type of loan. Rather
  than being short term loans, they are medium term
  loans of between 2 years and 10 years on average.
  
• Shop around, because different lenders offer
  different rates. Sainsburys is offering the best
  rate at the moment, with very low interest of
  3.8, which is apparently the lowest interest
  rate ever offered get in there quickly before
  it disappears.

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Thanks For your Time