will uk personal loans get cheaper?

MervynKing

Want to buy a new motor rather than need to. Does anybody have any thoughts on whether uk personal loans get cheaper if I wait a while or will they remain pretty much the same indef..?

ta.
Steven

~Brock~

My feelings are, if anything, they will go up.

BenL

The banks will use the future interest rate rises (can't stay at 0.5% forever) as an excuse to increase their rates.

ILW

Someone has to pay for all the mis selling and unenforceabilty claims plus the bad debts. My guess is it will be new and existing borrowers on variable rates.

Rafter

Inclined to agree.

Base rates are going up.

Income from fees, charges and PPI are going down.

Banks capital and liquidity charges are going up.

Which all adds up to mortgage and loan rates going up .....

R.

_Andy_

Agree with the above. There is no reason to suggest rates on loans will reduce any time soon, and with PPI being made a lot stricter (and claims on existing policies) there's not much profit in them anyway.

CLAPTON

since it's a want and not a need whyever don't you simply save up?

MervynKing

OK. Thanks for all your comments people.
The purchase is turning into a need really (as I'm convincing myself) so I'll go for the loan soonish..
thanks again..S

crusty_toenail

MervynKing wrote: »

OK. Thanks for all your comments people.
The purchase is turning into a need really (as I'm convincing myself) so I'll go for the loan soonish..
thanks again..S

Well you should know Merv, when are you putting those rates up my son?

MervynKing

Wrong Merv - I'm Merv the darts player. And my arrows can't make predictions!

ILW

MervynKing wrote: »

Want to buy a new motor rather than need to. Does anybody have any thoughts on whether uk personal loans get cheaper if I wait a while or will they remain pretty much the same indef..?

ta.
Steven

Some dealers offering interest free, ain't going any lower than that.