Expert opinions: conditions good for a personal loan
Financial experts have suggested that now would be a good time to take out a personal loan.
The pre-Christmas nightmare of interest rates totalling ten or fifteen per cent largely diminished in the New Year and the more stable conditions mean that a loan can be a good way to assist general financial planning.
Tracy North of Abbey media relations says that with loan rates 'very low at the moment', consumers are responding to the variety of deals on offer.
'The amount of borrowing and the variety of what they are borrowing has gone up,' she commented.
Emma-Lou Montgomery, editor of Moneywise, adds that loan prospects are currently better than the option of releasing money from property:
'The downside to re-mortgaging is that you may end up borrowing money over a longer period of time than you would with a personal loan,' she says.
Consumers can look online to find the most competitive deals available in personal loans. | 
