Moneysupermarket Introduce Exclusive Secured Loan

Mon, 08 Sep 2008

Moneysupermarket.com has launched a new exclusive secured loan in a bid to take advantage of a slump in unsecured lending .

The price comparison site’s is now offering borrowers a Platinum Loans product, provided exclusively by Central Capital, that comes with a market leading rate of 7.5 per cent APR .

Tighter lending criteria by most banks as led to borrowers finding it increasingly difficult to get accepted for an unsecured loan . Those that are able to successfully apply for one are usually left with a interest rate .

Tim Moss, head of loans at moneysupermarket.com, commented: "With unsecured lenders slamming their doors in the faces of increasing numbers of consumers, a competitive secured loan product is vital for many people in the UK ."

"For those people with a healthy income, plenty of equity in their home and, perhaps, only one or two blips on their credit record, a secured loan can be a good option, giving them the ability to borrow more at a lower rate ."
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