Compare Loans  |  Secured Loans  |  Loans Advice  |  Best Buys  |  Loan Providers  |  Call Me Back

 

Loans - Moneyfacts.co.uk: Loan rates on the up - 13/03/2008

  
 
  Personal loans are becoming more expensive in the UK, Moneyfacts.co.uk has revealed.

Research from the financial websites has shown personal loans firms withdrawing cheap credit and ramping up rates across the board.

For borrowers looking to take out under £3,000, the highest rate on offer has increased from 20 per cent to 28 per cent over the year.

Those looking for larger loans, however, have seen a less steep increase, with the 'best buy' loan rising from 5.9 per cent to 6.7 per cent.

Secured loans have also become harder to come by, with eight high street lenders withdrawing their products.

"Anyone looking to take out a loan in 2008 is going to find themselves faced with having to shell out more by way of monthly repayments than they would have done over the last couple of years," Moneyfacts.co.uk analyst Michelle Slade commented.

"The ongoing credit crisis has seen institutions concentrating on getting money in the door and becoming more expensive and selective when lending money out."
 
     
 
 
Related News
  04/09/2008 - Price of loans increase. . The price of personal loans has increased, in the effort of the crackdown in...
31/08/2008 - Consumers increasingly concerned about cost of living. . New research has revealed that consumers all across the nation are becoming increasingly worried...
29/08/2008 - Economists predict a fall in the interest rate. . Economists have predicted that the interest rate will be lowered in the next month,...
 
Related Guides
  Unsecured loans. . In the quest for borrowing money, all consumers must explore all options available to...
Top Tips to Secured loans. . In the venture to borrowing money, one must be aware of the type of...
A guide to loans. . Thinking about taking out a loan? Heres a guide giving you some advice on...
 
Related Articles
  03/09/2008 - Student loan nightmare. . One girl is facing the prospect of having her university dreams shattered due to...
26/08/2008 - Tips to repair your credit history. . A credit report can be a powerful and influencing force in your life. Lenders...
21/08/2008 - Loan woes. . A number of lenders, in the UK have increased the interest rates that they...
Loans Advice
Loans Advice Call our loan advisers
0800 1777 197


Best Buy Loans Best Buy
Personal Loans Click Here
Secured Loans Click Here
Car Loans Click Here
Debt Consolidation Click Here
Refused Credit Click Here
Same Day Fund Click Here
Low Value Fund Click Here




THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPATMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
MISSING PAYMENTS WILL HAVE SEVERE CONSEQUENCES AND MAY MAKE OBTAINING CREDIT MORE DIFFICULT IN THE FUTURE.

Only Loans Ltd is authorised and regulated by the Financial Services Authority, FSA registration number: 439110. Our registered offices are 1 Kings Avenue, Winchmore Hill, London N21 3NA, company number: 05222154. Telephone 0207 377 1805.

About Us  |  Site Map  |  Disclaimer  |  Terms & Conditions  |  Privacy Policy  |  Contact Us