A spokesperson for Moneyfacts.co.uk has said that although headline rates can be misleading, personal pricing of loans ensures the best deals are available.
Michelle Slade, a financial researcher for the money advice and comparison site, has said that although many people are disgruntled when they apply for loans with the headline rate in mind and are offered a poorer rate, the system does benefit others.
"With personal pricing an institution can offer a cheaper rate to those with a good credit rating," she noted.
However, Ms Slade also sounded caution to those who use comparison site search engines to choose the market-leading rates if they do not have a solid credit history.
"Price comparison websites have made it easier for consumers to compare deals. However several lenders have introduced personal pricing and this is not taken into consideration on price comparison sites."
Headline rates must be available to a minimum of 66 per cent of customers through a system that has come under fire from consumer groups for being misleading to applicants with poor credit.
However, Ms Slade argues that it also has benefits because it allows those with better ratings to get the best rates rather than be subject to a flat rate based on the overall risk of the entire population.To read more about loans, click here.
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