Recent figures have shown that since the start of this year the cost of personal loans has been increased by banks, and this is despite the fact that the base interest rate has been at an all time low of just 0.5 percent for the past nine months. Since the start of this year the cost of a best buy loan for £5000 is said to have increased by around 1.54 percent to 10.78 percent according to reports. (more…)
Tags: loan products, bank of england, British Bankers Association, cost of loans, Financial institutions