UK Personal Loan Rates Fall – Moneysupermarket
A recent report published by a comparison portal Moneysupermarket suggests that rates on UK personal loans have finally started to come down from their 5-year peak.
In the opinion of experts, the positive changes are due to increased market competition. As more and more lenders are willing to give out money to consumers, the rates on personal loans of £5,000 have significantly
decreased. The average rate cut amounted to 0.58%, which means that loans are now accessible at 10.19%.
As for bigger loans (£10,000 and £15,000), they have seen a 0.23% and 0.3% rate cuts and are now available at 8.27% and 8.82% accordingly.
Commenting on the findings of the research, Mr. Moss of Moneysupermarket said that what can be seen now on the British market is "some movement from lenders as their appetite to attract new customers increases and this can only be seen as good news for consumers."
You can find the best personal loan rates by using online comparison tools and contacting lenders in person.
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