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New quotes system announced at personal loans provider

A new "personalised pricing" system for personal loans customers has been announced by Nationwide.Announced for an immediate start, the new system will give every single loan customer an individual quotation.The recent economic downturn was cited by Nationwide as a reason to begin its new loans policy.It claimed that the move was "prudent" due to the market volatility and predicted recession.Jeremy Wood, director of consumer finance at Nationwide, said: "We are placing a greater emphasis on risk and lending appropriately."The personal loans market has changed over the last few years and, as with any well managed business, we needed to make changes to ensure that we continue to provide members with a competitive range of personal loans. He added: "This change will enable the Society to continue to lend prudently."

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