Tuesday 25 January 2011

Good News for Borrowers!

" Good news !!! From 1st February  there will be new rules to ensure that lenders advertise more accurate interest rates to customers who want to borrow money through loans or credit cards. One of the most important changes under the new Consumer Credit Directive is that lenders will now have display an interest rate – or annual percentage rate (APR) – that 51 per cent of customers are actually offered.
While this still does not guarantee that the advertised rate will be the one the customer is actually offered, it should be a better guide when sizing up the best available loans in the market."

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