If you find yourself in the position of needing to borrow money, you may already know that it is getting more and more difficult to take out a loan. Lenders have responded to the economic downturn by being more restrictive as to whom they will loan money. Lenders who are still willing to make loans are often looking to make the loans that they deem to have a lower amount of risk.

Finding loans with a good rate of interest is still quite a challenging task. The banks are still severely restricting their lending making credit difficult to come by.

Sainsbury’s ups the ante in the personal loans rate battle by introducing a new headline rate of 6.8% APR.

Nearly half of al Brits are worried that they may fall victim to card fraud with concerns that they cannot afford to lose money in this current economic climate.

Nearly a quarter of all UK consumers will be carrying credit card debt with them throughout 2011 – in fact 7 per cent of people will still be paying for Christmas 2010 way past June 2011.

Despite the Bank of England base rate maintaining its historicly low rate of 0.5%, the average rate on a credit card has risen to 16.79%, according to the Bank of England, its highest level since February 2002. Meanwhile, other figures released by the Bank of England indicate that banks are still writing off huge losses [...]

Northern Rock is looking set to introduce a range of mortgages at a 90% LTV which will hopefully help the first time buyer market which has suffered immensley since the credit crunch began.

With unsecured personal loans now more readily available, Britain’s businesses want the banks to start treating them with more generosity.

Ministers have failed to assure charities that funds for schemes such as Saving Gateway are safe.

Stella Creasy’s Bill would have placed a cap on the interest chargeable on high-cost and payday loans.