Black Horse deal brings greater choice

The secured lending arm of Lloyds Banking Group, Black Horse, is offering an exclusive rate through price comparison site moneysupermarket.com.

With a headline rate of 7.9 per cent and a typical APR of 11.9 per cent, the new secured loan offering comes at a time when loans are becoming significantly harder to get.

Tim Moss, head of loans at moneysupermarket.com, says Black Horse's exclusive loan deal is welcome news for many British households.

"With the secured loan market imploding over the past 12 months, this initiative from a well respected lender will, at last, bring more choice to the marketplace.

"If there is one provider whose reputation has been enhanced during the credit crunch, it is undoubtedly Lloyds, so to have Black Horse on the site with an exclusive offer is great to see."

The secured loan must be for between £10,000 and £40,000 and be for a period of three to 10 years.