Consumers could save on loans with Alliance & Leicester by Finance News Bulletin

Published: 21/02/07

Hundreds of millions of pounds are being wasted on personal loans acquired from high road banks due to a lack of knowledge regarding yearly Percentage Rates (APRs), according to Alliance & Leicester individual LoansThe total stands at £285 million collectively, says Alliance & Leicester, as UK consumers plumped for loans with ten per cent APR as opposite to a typical APR of 59 per cent with Alliance & LeicesterAs a consequence, Alliance & Leicester is calling on consumers to start the new year by saving themselves cash and switching to the loan provider

Richard Al-Dabbagh, senior individual loans manager at Alliance & Leicester, said: "We have recognized for a while that the big high street banks do not be inclined to offer the most excellent deals, whether it is on current accounts, mortgages or personal loans"This research shows the staggering amount that populace are overpaying for uncompetitive personal loans and how much the big high street banks rely on borrower apathy and be short of of financial sympathetic"Further research undertaken by Alliance & Leicester Personal Loans discovered that 23 per cent of people in the UK are turning towards store cards to add towards their festive expenditure sprees The APR on such cards can sometimes

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