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'shocking' rise in rates charged on loans

Published: 26/08/2009

Manchester Evening News (Main)
The average interest rate charged on a personal loan has soared by more than 40 per cent since 2004.

 

Andrew Hagger of Moneynet.co.uk, which carried out the survey, said: “While we all knew than loan providers were operating on much bigger margins in this post crunch period, it is quite shocking when you realize just how much the cushion has grown.”
 

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