Ten year high for loans under £5000

Recently released figures have shown that the interest rates on personal loans for a sum of less than £5000 have reached their highest level in ten years, whereas the interest rates on loans for sums higher than £5000 have fallen, which means that it will cost more for consumers to take out smaller loans than [...]

Ministerial reviews could mean tests for loan applicants

It has been revealed recently that ministers are carrying out reviews of the consumer credit and personal finance markets in the UK, with plans to review a range of rules relating to this sector in order to improve safeguards on financial products wherever it is deemed necessary.
According to reports the ministerial review could result in [...]

Borrowers turn to Zopa rather than High Street banks

According to a recent report many borrowers are turning their backs on High Street banks in the UK when it comes to borrowing money, and are instead looking at other options and ways of getting the finance that they need. The report was released by the website, Zopa, which is a site that allows consumers [...]

Level of base interest rate fails to be reflected in loans

For more than a year the base interest rate in the UK has been at its all time low of just 0.5 percent, which is the lowest it has ever been in the history of the Bank of England, which spans over three centuries. However, despite this rock bottom base rate there are concerns over [...]

Consumers urged to ensure they can afford loan repayments before they take out loans

It has been suggested in a recent report that consumers in the UK who are thinking of taking out a personal loan should look take measures to ensure that they can comfortably afford to make the repayments before making any commitment, especially in the current climate where many people are still fearful over losing work [...]

Consumers should shop around for best deals on loans

An industry official, Darren Cook from the financial company Moneyfacts, has recently urged consumers to ensure that they shop around for the best deals when looking to take out loans, mortgages, and credit cards. According to Cook shopping around for the best deal can save borrowers a small fortune and could minimise the chances of [...]

Personal loan rates still increasing

According to a recent report rates on personal loans are still increasing, even though the base interest rate in the UK has plummeted to just 0.5 percent over recent months. The base rate is now at its lowest level in the history of the Bank of England, but personal loans rates have been continuing to [...]

Loan insurance complaints rise

According to a recent report the level of complaints being submitted with regards to loan insurance cover has been rising, and eight hundred complaints each week have been pouring in from consumers with regards to this type of controversial cover. The data has come from the Financial Ombudsman Service.
The FOS has also said that the [...]

Banks need to be forced to lend

Some industry officials have said that the government needs to step in and start forcing banks to lend money to consumers and businesses again, after revelations that lending levels are unlikely to improve in the near future. A recent report claimed that higher lending levels were unlikely in the imminent future, which means that the [...]

Loan site aims to match borrowers up with lenders

A loans site, Zopa.com, has recently reported that in the current climate where getting finance has become increasingly difficult, some consumers may find that they are able to access suitable loans more effectively by using the site, which is aimed at matching borrowers up with suitable lenders based on their circumstances and their needs.
An official [...]

Next Page »