Average loan rates `have increased in 2009`

23 December 2009

New research from price comparison site Moneysupermarket.com claims that the average loan rate has increased throughout 2009.

The average rate amongst the `top 10` £5,000 loans is now 10.78%, up 1.54% since January this year.

A loans expert for Think Money said that while loan rates do appear to have increased, would-be borrowers may still be able to find a good deal if they shop around.

"Loan providers are still looking to compete, and there are still a number of relatively low interest rates available.

"For people with less-than-perfect credit ratings, finding a loan deal might be more difficult, but speaking with an expert loans adviser can make it easier."

Tags: loan, loans, loan rates

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