August 29th, 2008
Although rate drops are not yet widespread, it does appear that low interest loans are on the way back. Consumers in desperate need of low interest loans may have to wait for a few weeks for the effect to trickle down, but recent figures indicate that the rates are starting to trend down. This is good news for those that are trying to either consolidate debt or refinance an existing loan into a low interest loans. Whether or not many banks begin to offer lower rates remains to be seen, but several have started to cut their rates and even lower their fees in an effort to remain competitive in the industry.
‘Staying on SVR is not a bad position to be in for some people because there is no penalty for staying on it and you can switch away any time without paying a fee,’ says Richard Morea of mortgage broker London & Country.
‘The people whom it may make sense for are those confident that rates will go down, those who are looking to move house and so don’t want to be tied into a new deal, and those who have no choice.’
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August 22nd, 2008
Low interest loans have gone through major changes over the past year and experts are concerned at the impact this could have on consumers. Many rely on low interest loans and cannot afford their payments if the rates continue to go up. For those already in trouble, a break and a return to low interest […]
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August 15th, 2008
Experts are reminding consumers that even though working with a broker can be helpful, they should still seek out low interest loans on their own. Not all lenders work with brokers and by failing to shop around, consumers may be missing out on low interest loans deals. The same is true for consumers that are […]
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August 8th, 2008
There appear to be indications that low interest loans may be returning. Although the changes are not yet widespread, there are many banks that are starting to offer low interest loans again and there are high hopes that other banks will follow suit. Even though the Bank of England did not lower rates this week, […]
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August 1st, 2008
Although a few banks have started to offer low interest loans, it appears as though most are sticking with their higher rates. Consumers are finding it increasingly difficult to get a low interest loan, and with inflation, it is becoming harder than ever to stay afloat. For those seeking a low interest loan, it may […]
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July 18th, 2008
The bank of Mum and Dad has suddenly become very popular as more people seek a way to get a low interest loan. Since banks are shutting down availability of low interest loans, few have many choices other than to go to their parents for help. This may cause problems down the road for families […]
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July 10th, 2008
As banks continue raising their rates and adding fees, a low interest loan is becoming even more difficult for consumers to get. The fees attached to a low interest loan are starting to negate any saving benefits and for many, it is simply too expensive to try to get one of these loans at this […]
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June 26th, 2008
A general lack of new low interest loans is affecting the housing industry in many different ways. As a result of newly higher interest rates, many homeowners are finding that their once low interest loans are now very expensive. In addition, banks that offer low interest loans right now are few and far between. There […]
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June 19th, 2008
Although property values are enticing many people to become first time home buyers, most are finding it impossible to get a low interest loan. The issue is getting increasingly worse and many wonder just how long it will be before low interest loans come back. Right now, more banks across the UK announced this week […]
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June 13th, 2008
For those seeking to find a low interest loan, there may be hope on the horizon. Building societies are starting to investigate offering low interest loans in hopes of increasing their business. Right now, many developments are sitting empty due to a lack of low interest loans and in order to get occupancy up, these […]
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