Loan Rates remain stable
Uncertainties in world financial markets have yet to have an effect on UK loan rates.
Base interest rates remained at 5.75% for the 2nd month and there have been no major changes in lenders rates.
Increasing debt levels have once again hit the headlines, with higher numbers of people seeking help with unmanageable debts. Together with a focus on restricting loans to people who may be unable to repay them easily, the loans industry is likely to receive more media headlines in the coming months.
Money Review's Opinion
Money Review sees a few changes on the horizon for loan companies in the UK as they adjust to new regulatory constraints, pressure from fund providers and the impact of world financial markets. We may also see the unusual situation of actual interest rates increasing yet advertised typical APR's reducing as lenders cut out customers who would have borrowed at higher rates, forcing loan companies to include those expensive deals in their rate calculations.
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