Cheaper loans 'on the horizon'

Money News

www.moneynews.co.uk > Banking > Cheaper loans 'on the horizon'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Cheaper loans 'on the horizon'

Moneysupermarket.com has conducted research which reveals that cheaper loans may be returning to the market in the UK, following months of increasing interest rates.

The price comparison site revealed that the average annual percentage rate of interest offered on a loan peaked at 8.8 per cent in March, but has now fallen to 8.6 per cent.

Tim Moss, head of loans and debt at moneysupermarket.com, said that the news would come as a relief to those seeking cheap loans, which have been harder to come by during the credit crunch.

He added: "It has become increasingly difficult to get a competitively priced loan. Let's hope that the rate reductions we've seen recently are just the beginning and that we see more providers looking to attract new customers in the months ahead."

The Bank of England decided earlier this month not to reduce the base rate of interest to below 0.5 per cent.

Click here for more banking newsADNFCR-323-ID-19126791-ADNFCR

Related News : Banking

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet