Personal loans up as banks ride wave

Personal loans are making a comeback, and banks are getting the cream.
The latest lending figures show fixed-term borrowing for cars, boats and travel has jumped 38 per cent since its low point in November 2008 at the depth of the financial crisis.
Banks have captured all of the growth, boosting personal lending by 57 per cent [...]

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Banks raking in cash with ‘highest personal loan rates in a decade’

Banks are making record profits after hitting customers with the highest personal loan interest rates in almost a decade. Loan rates average 12.4 per cent, despite the fact the Bank of England base rate is at a 300-year low of 0.5 per cent. According to the Bank the amount borrowed rose by £ 52million – [...]

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