Posts from January, 2009

Loans Affected By Interest Rate Cut?

Posted on Thursday, January 15th, 2009 at 3:28pm

Last week's cut in interest rates might not be much good for your savings, but it could be great news if you've been thinking about getting a secured loan.

The Bank of England slashed interest rates to 1.5% - a three hundred year low - in an attempt to get people spending again and boost the flagging economy, and it's more than likely that rates on secured loans will drop as a result.

That means you could end up having to pay back even less on your loan; sounds like a good deal to me!

15.9% APR Typical variable

WARNING: THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. LOANS ARE SECURED ON YOUR HOME. ALL LOANS SUBJECT TO STATUS.