APR is an acronym that stands for 'annual percentage rate'. APR is a percentile figure that reflects the total annual charges that you will owe on secured personal loans UK. APR is calculated to not only include interest but also any additional fees that you might be charged for services such as a secured personal loan arrangement. APR is one of the consumer's most valuable comparison tools when looking at a variety of different loans from a range of providers - and when looking for secured personal loans UK. All lenders are obliged by law to disclose the true APR on a loan product before a credit agreement is signed.

APR is charged in either one of two ways- either fixed or variable. It is important to notice how APR is being charged if you are trying to compare loans and find that low interest loan deal. Fixed rates might initially appear dearer than their variable cousins, but remember that they will not be subject to fluctuation and change due to market forces. In this respect fixed rates offer a safer bet. However, it is also important to remember that whilst variable rates can rise, they have also been known to fall, so it is up to you entirely whether you want to take that risk. It comes down to whether you can afford the risk, how far you are stretching yourself at the current interest rate and how optimistic you are. Above all, if you are looking for secured personal loans UK it is always wise to consider your options by thinking about how you would deal with the worse case scenario.