5000 Loan Guide

It looks like people looking for a 5000 loan are being hit hardest by lenders, Tim Moss, head of loans at moneysupermarketdotcom has indicated that people looking for loans of £5000 are being stung the hardest, while people taking a £10,000 loan can expect to pay 2 per cent less in interest, this looks like the banks are up to their old tricks of  getting borrowers to take out bigger loans (and probably ones they can’t afford)

It’s worth noting that loan rates have gone down a little in August, if lenders want to re-consolidate their debt they’ll need to keep forcing loan rates down which is good news for borrowers, however the bad news is that that many lenders are only lending to existing customers or applicants with a perfect credit history, so if you’re not Mr. or Mrs. Perfect it looks like you could be in for a hard time finding a 5000 loan at a good rate, if  you can find one at all!

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