8 September 2006
The British Bankers' Association (BBA) has commented on the issue of personal loans and insolvency.
Brian Capon, BBA spokesman, said he felt it was fair to stop headlining interest rates in loan offers.
He argued: "Yes, I think it is a fair move because it gives the opportunity for banks to be competitive and to match their interest rates to the risk involved.
Speaking on the subject of personal pricing Mr Capon said consumers who have a very good credit rating could be entitled to a reasonably low interest rate for borrowing.
He added that consumers who are considered "high risk" could expect to be charged more by banks.
"We would always encourage people to look around anyway and to make sure they compare like with like and go for the best deal."
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