What if I have been quoted a high APR?
The APR offered by lenders depends largely on your personal
circumstances. Unsecured loans will usually have a relatively high
APR when compared to a secured loan.
If an applicant has had problems
in the past with making repayments on credit agreements, the lender
may consider him/her to be a 'high risk'.
If a lender decides to offer a loan
to a high risk applicant, the APR offered will in general be on the
Another type of applicant who may be considered as 'high
risk' is someone who has no credit history - i.e. has had no, or just
one or two, credit agreements in the past.
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