With all the talk of loans rate going up since January there are still some good deals around for borrowers seeking personal loans.

Having a good credit record is a key factor and those how have one will find that they will be able to secure the most attractive deals.

Judged by the amount of weekly loans offers that fall through the letter box, banks and building societies are always trying to offer loans, but although your bank or building society may be the first to offer you a chance of a loan they are not always offering most competitive on the market. If you are looking for a loan it’s wise and definitely good advice not to jump in too quickly as offers can vary considerably. Taking your time will get you the best offer and save you money.

Online price comparison sites are a good way of quickly looking at some of the most competitive deals on the market.

For those borrowers unsure about their credit rating there are a number of credit reference agencies like Equifax or Experian that can check credit records for individuals.

But as rates for loans has increased in general, rates for larger loans has actually declined. Those wanting to borrow more than £20,000 will actually have seen rates drop. Three months ago, the average for this amount was 8.1%, and has fallen to 8%. The average cost of loans of £2,000 - £3,000 have shown a 0.8% and 0.5% interest hike rates since January.