Consumers could save on loans with Alliance & Leicester
www.moneynews.co.uk > Personal loans > Consumers could save on loans with Alliance & Leicester
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Money News |
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Consumers could save on loans with Alliance & Leicester
Mon 29th Jan 2007
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The total stands at £285 million collectively, says Alliance & Leicester, as UK consumers plumped for loans with ten per cent APR as opposed to a typical APR of 5.9 per cent with Alliance & Leicester.
As a consequence, Alliance & Leicester is calling on consumers to start the new year by saving themselves money and switching to the loan provider.
Richard Al-Dabbagh, senior personal loans manager at Alliance & Leicester, said: "We have known for a while that the big high street banks do not tend to offer the best deals, whether it is on current accounts, mortgages or personal loans.
"This research shows the staggering amount that people are overpaying for uncompetitive personal loans and how much the big high street banks rely on borrower apathy and lack of financial understanding."
Further research undertaken by Alliance & Leicester Personal Loans discovered that 23 per cent of people in the UK are turning towards store cards to contribute towards their festive spending sprees. The APR on such cards can sometimes be as much as 30 per cent.
Related News : Personal loans |
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Related News : Alliance & Leicester |
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