Abbey National are still offering unsecured loans at a rate of 5.8% APR to internet applicants.
Surprisingly, they didn't bump up the rate along with the Bank Of England last month. They're still offering loans at 5.8%.
I can only assume that:
- They're awash with capital, which they're desperate to lend to people so as to get a return on it.
- The loans are variable rate.
Are there any implications of (1) for potential investors, or of (2) for people with credit card debts (*).
(*) Assume these credit card debts are on a preferential rate, fixed at 7.9% APR for the lifetime of the debt.