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Loans Latest News Personal loans market remains buoyant
Loans Latest News Personal loans market remains buoyant Personal loans market remains buoyant
The personal loans market remains buoyant despite the slowdown in house prices and concerns about economic growth, Nationwide building society has noted.
Figures from the high street lender show that demand for personal loans is outstripping credit cards.
Personal loans are also increasingly seen as a means of consolidating existing debts.
"It appears that the personal loans market remains buoyant despite a gradual slowdown in other sectors of the economy," said Stuart Bernau, executive director of Nationwide.
"Whilst consumers are generally easing off from borrowing more and focussing on clearing existing credit commitments, personal loans appear to remain a popular vehicle for tidying up household finances in a relatively low cost and structured way."
Figures from the high street lender show that demand for personal loans is outstripping credit cards.
Personal loans are also increasingly seen as a means of consolidating existing debts.
"It appears that the personal loans market remains buoyant despite a gradual slowdown in other sectors of the economy," said Stuart Bernau, executive director of Nationwide.
"Whilst consumers are generally easing off from borrowing more and focussing on clearing existing credit commitments, personal loans appear to remain a popular vehicle for tidying up household finances in a relatively low cost and structured way."
Monday, 20 June 2005 15:46
Top 5 Personal Loans
|
Loan |
Representative APR |
Min Loan |
Max Loan |
Min Term |
Max Term |
Apply |
|---|---|---|---|---|---|---|
| View Full Table > | ||||||
 |
6.8%
|
£7,500
|
£14,999
|
1 Year
|
5 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.8% (fixed) equals monthly repayments of £148 and a total amount repayable of £8,868. There are no other charges included in the total charge for credit. | ||||||
 |
8.2%
|
£5,000
|
£7,499
|
1 Year
|
7 Years
|
|
| Representative Example: £5000 borrowed over a period of 5 years at 8.2% (fixed) equals monthly repayments of £102 and a total amount repayable of £6,112. There are no other charges included in the total charge for credit. | ||||||
 |
6.1%
|
£7,500
|
£14,999
|
1 Year
|
10 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
|
|
8.1%
|
£15,001
|
£25,000
|
1 Year
|
7 Years
|
|
| Representative Example: £15001 borrowed over a period of 5 years at 8.1% (fixed) equals monthly repayments of £305 and a total amount repayable of £18,293. There are no other charges included in the total charge for credit. | ||||||
|
|
6.1%
|
£7,500
|
£15,000
|
1 Year
|
7 Years
|
|
| Representative Example: £7500 borrowed over a period of 5 years at 6.1% (fixed) equals monthly repayments of £145 and a total amount repayable of £8,721. There are no other charges included in the total charge for credit. | ||||||
