Unsecured personal loan rates "continue to rise"

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www.moneynews.co.uk > Loans > Unsecured personal loan rates "continue to rise"

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Unsecured personal loan rates "continue to rise"

Consumer website uSwitch.com has criticised Alliance & Leicester for increasing its unsecured personal loan rates by up to one per cent APR.

Simeon Linstaed, head of personal finance at the price comparison and switching service, asserted that the loans market can be "tough" for both lenders and borrowers and that consumers looking for a loan may be wise to shop around.

He explained that borrowing on a fixed rate may be one way to get a better deal and added that people with a number of debts may wish to consolidate them and repay them with one monthly loan payment.

"The remaining best buy deals may not be around for much longer so consumers should act now while they can still get some pretty good deals," he said.

Alliance & Leicester recently added a £100 incentive for any of its new customers who switch to its Premier current account online.ADNFCR-323-ID-18752273-ADNFCR

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