Building society Nationwide have announced that they will be introducing individual prices on their loans, which could be great news for people looking to consolidate debts.
Many consumers that owe money on credit cards and loans still have a great credit rating because they never miss payments or incur penalties. However, consolidating all of their debts is often not an option as they can't secure a favourable enough agreement to make it worthwhile.
Jeremy Wood from Nationwide explained the companies lending policy, "As a prudent lender in the current credit environment it is important that, in pricing personal loans, we are placing a greater emphasis on risk and lending appropriately."