Good loans deals are still available and customers should shop around to get the best deals, a major newspaper has reported.
According to the Mail on Sunday, on a £5,000 loan taken over three years the best deals are to be had by phone or over the internet.
Goldfish, Lombard Direct, Moneyback Bank (part of A&L), Nationwide, Northern Rock and Tesco all offer reliable products.
However, Financial Service Authority (FSA) boss John Tiner, has warned that now might be the last time for a while to get a good loan because the market was overheating.
“Over the past few months we have seen increasing signs of such stretch in the corporate market, particularly in leverage finance and private equity,” he said.
“We have the feeling that the market is getting increasingly nervous, prompting the question: which deal will be one too many, and who will be left holding the pieces?”
© Adfero Ltd