Nemo Personal Finance has reduced the rates on a number of its secured loan products.
Reductions include a decrease to 5.496%, from 5.592%, on loans between £30,000 and £200,000 with a loan to value of up to 55% and a drop to 9.144%, from 9.516%, on loans between £7,500 and £100,000 up to 75% LTV.
Loans between £7,500 and £60,000 up to 80% LTV are cut from 12.408% to 11.604%.
Matt Tristram, director and co-founder of Loans Warehouse, welcomed the cuts.
He said: “Competition is at the prime end of the market has never been stronger within the secured loan industry, rates continue to drop as lenders compete again each other and the winners are the borrowers”
The rate reductions now see Nemo offer the cheapest rate in the industry.
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