Do you need a loan in Ireland? We can advise

It really doesn't need to be explained just how bad things have gotten in Ireland when it comes to finances. The worst thing about it is that despite the fact that it was the banks which caused the problems, and that the Irish people have bailed them out time and time again, it's actually the man on the street who is feeling the pinch the most.

Personal finances are at a critical level for many, with unemployment becoming a bigger and bigger issue with each passing month. Even if you are lucky enough to still have a job, you have probably noticed that your pay packet is quite a bit smaller than it would have been even a few short years ago.

This has meant that more people than ever need a loan in Ireland for home repairs, new cars, medical procedures or other unexpected emergency personal expenses.

That's definitely easier said than done right now though. Banks are playing hard ball when it comes to lending money, often point blank refusing to lend to many potential borrowers, even ones who would have been looked upon as valuable customers up until the financial crisis began. This means that shopping around is more important than it has ever been for borrowers.

The rates available at lending institutions throughout the country differ wildly, depending on the amount you would like to borrow, the purpose of the loan, your personal income and the duration of the loan. If you would like a good indicator of how much things will cost, you can use www.bonkers.ie/compare-loans/ to give you rough estimates of the overall cost of loans from AIB, Bank of Ireland, Ulster Bank, National Irish Bank and Permanent TSB.

Alternatively, ask about loan rates in your local Credit Union if you are a member. Their rates are often far more favourable than the ones found in traditional banks and building societies.

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