So then, what’s new today? Well some potentially big news prospective borrowers as the leading economic forecaster, Ernst and Young’s Item Club has predicted that in order for stability to return to the U.K.’s economy the Bank of England will need to keep the base rate at 0.5% for another four years.
So what does this mean for you and me? Well, generally when interest rates are low it represents a great time to borrow and not such a hot time to save. People with existing loans will pay less on their repayments (provided they’ve not previously fixed them) giving them more disposable income. So if you are looking for a loan, there’s never a better time than when interest rates are low. Of course, the decision to take out a loan should never be taken lightly but if you feel you will be able to maintain repayments now could be the time to you.
And there’s no better place than Credit Jungle to find the right loan to you. With our advanced credit scoring matching technologies, you can get your credit score for free and in exchange we’ll match you with the lender best suited to your score.
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