Research shows 1.2m taking out payday loan each year

Story link: Research shows 1.2m taking out payday loan each year

According to research by watchdog Consumer Focus, the number of people taking out a payday loan has quadrupled in the last 4 years.
The consumer group said 1.2 million people are now taking out a payday loan every year - borrowing more than £1 billion.

Payday loans are becoming more popular and are seen as attractive [...]

Cheapest loan providers named

Story link: Cheapest loan providers named

The Telegraph has an interesting article which covers the best deals for personal loans at present:
Loan alert: personal loans charging 8pc or less
A personal loan from Nationwide is reported as the cheapest, with a loan rate of 7.9% offered to existing Nationwide customers (though not those with existing loans).
The AA also offers a decent rate [...]

Nationwide announces new personal loans rates

Story link: Nationwide announces new personal loans rates

The Nationwide Building Society has announced a new range of personal loan rates this week, offering a more competitive rate on loans between £7500 and £15000:
Nationwide’s new personal loans rates

With effect from Thursday 2 April 2009, Nationwide Personal Loans will offer a competitive rate of 8.2% APR typical for loans of £7,500 to £14,999*. With [...]

Cap interest rate charges

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Polititions are among the most critisised people in the world, although I don’t think anybody except the banks will be disagreeing with their comments of late.
They are suggesting that banks are made to cap their interest rates relating to personal loans, which have spiralled out of control over the past few months, some standing as [...]