Freedom Finance has reported two consecutive record months in March and April this year.

April saw over £17.9 million worth of loans completed through the broker’s ‘soft search’ loan system, beating the previous record in March, which saw completed loans reach £16.6 million.

Brian Brodie, CEO of Freedom Finance, said: “Our record-breaking figures show that increased competition and the emergence of challenger banks has meant that lenders are now able to offer more attractive options for borrowers. The exceptional value that this competition creates in the personal loan market is leading to a significant uplift in consumer appetite for loan products.

“With the unsecured loan space seeing a particular rise, it is clear that the availability of credit is allowing consumer confidence to grow from strength to strength.

“It is important that potential borrowers looking to benefit from the current low interest rates are aware that the top rates on offer are often only available to those with perfect credit scores. Although online window shopping for loans is a great way to find the best rates, in some cases it can negatively affect your credit score and limit the possibility of you securing the best loan in the future.

“Applicants should make sure they use ‘soft search’ sites which find the best rate for their individual circumstances without having a detrimental impact on their credit rating.”