Personal Loans
Posted on April 1st, 2008 by Michael
As i have mentioned in the post before this and the one before that and many other posts, the credit crunch is having quite an effect on the financial market.
It is obviously having an effect on the personal loans market. Interest rates will be calculated according to your credit history instead of what is advertised. This makes comparing different loan offers difficult.Generally though the rates have increased in the market.
Not only have interest rates increased (despite the Bank of England’s reduction of the base rate) but banks are becoming more cautious about who they lend money to and will run more credit history checks.
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