Loan Rates Jump
The repercussions of the global credit crunch remind me of throwing a very large rock into a still lake and watching the consequences ripple far and wide. In its wake, mortgages have already begun to get more expensive even though the base rate hasn’t risen since July. Now it’s the turn of personal loans as Moneyfacts reports nine lenders have stepped up interest rates this week alone, with some loans soaring by as much as 4%.
