Consumers looking to take out a loan could find that it gets more difficult as banks become more selective about who they will give money to, according to a price comparison website.

The website reported that although it has seen the number of people searching for a loan using its services increase by 20% since the end of 2008, in the same period, the British Banker's Association has reported the number of loans had fallen by 28%.

Many banks have restricted their lending to existing customers and will increasingly only accept applications from people with good credit histories.

Tim Moss, head of loans and debt at the price comparison website, said: "The financial crisis may have eased but this hasn't filtered through to the personal loan market yet.

"We have seen the banks go from choosy to almost locking down completely. By restricting loans to existing customers only, banks are able to manage their lending more cautiously."

Tim added: "The most important thing to remember is that the APRs quoted by lenders are "typical" and the rate you see may not be the rate you are accepted at."