accepted.co.uk - the loans search engine

People on the search for the best loan deal need to be aware that not all lenders are playing ball when it comes to the lowered interest rate.

Indeed, many secured loans have variable rates, just like a mortgage, states MoneyExpert.

However, some secured lenders have not lowered their rates in line with the latest Bank of England interest rate cut, which now stands at two per cent, the website continues.

Meanwhile, 40 per cent of people who apply for secured loans via the site do so as an attempt to consolidate their debts, while 26 per cent of adults in Britain - the equivalent to12 million people - have personal loans.

As such, households struggling to find the cash for whatever reason may want to research loans available on the market, in order to get the best deal.

In related news, Steve Folkard of AXA recently commented: "The more aware you are of your problems and the more in tune to your financial situation you are, the better your chances of coming out the other end in good shape."