Loan rates are rising across the country with some of the former leaders in the low rate loan market now being found at the bottom of the comparison tables.

Northern Rock who have been consistently competitive for many years have recently upped their rate making to what is now one of the least competitive rates available. Standing at 7.9% APR Variable Northern Rock is currently being overshadowed by Alliance & Leicester, Halifax and Lombard Direct to name a few.

With borrowing becoming more expensive, saving is looking likely to gain pace as people see a better return on their money than before. Although not all savings accounts yet truly reflect the rise in interest rates