We've just updated our best loans table and it's interesting to review how rates have changed over the first part of the year.

For smaller loans, rates have increased by around half a per cent over the past six months although one provider, a new entrant in the form of a fresh brand rolled out by the Co-Operative bank is still holding onto a sub-seven per cent rate. That's in contrast to other mainstream providers like MoneyBack Bank and Sainsburys bank who have decided to increase rates. Barclaycard has up rates on it's £5000 loans by 1 per cent over the past year.

The rates on secured loans look very similar to levels of a year ago, although that is a market sector that has been hit particularly hard during the credit difficulties. Rates may be similar but available cash and acceptance criteria are a different story. Gone are the days of home equity securing loans of 125 %, the falls in house prices prices have put paid to those.

The Bank of England has cut interest rates three times since last summer but this fall has failed to work it's way through to the personal loans market. Those rates are determined by inter-bank lending and sentiments in those markets are still nervous.