Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Bank loan: Banks will no longer provide customers with 'best rate'

Consumers should shop around for the best deals on loans as banks will no longer provide their customers with the best available rate, according to an expert.

A new report from the Bank of England has revealed that lenders are increasing the margin they charge on unsecured lending.

Mark Bower, managing director of, has claimed banks have done so in a bid to claw back funds lost from the financial crisis and the increasing number of personal insolvencies.

He said: "The days of just going to your bank and expecting them to provide you with the best rate because of your relationship with them are definitely gone. The cheapest rates now tend to come from the supermarkets."

Mr Bower added that supermarkets now offer the best deals and that consumers should aim to move their loan to a more competitive rate if they feel they are paying over the odds.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800075310-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide