Bit of a battle going on in the office here.

had a quick flick on google but not willing to trawl through loads of rubbish.

say a finance company is offering finance at 11% APR and i have an average credit rating. would the APR differ between an 19 year old and a 40 year old?

Hope this makes sense.

It shouldn't do.

With loans it is usually a case where the more you borrow the lower the interest rate.

Also you either "get credit" or you don't - there doesn't seem to be any middle ground unless....

....risk.

If you don't have a very good credit rating or a non-existant one then you may find you aren't offered the better deals somebody with an established rating might be.

However I would say that a 19 year old and a 40 year old, both with "Good" credit ratings will be offered exactly the same deals...the age really shouldn't come in to it.

Example, mate of mine in work, we're both 22, we both bank with Lloyds TSB, I've got good credit history, he's been in arrears for his uni rent 2 years ago. For what it costs him a month for £4000 I could get a loan for £9000!

Agreed; unless you're so young you can't have a credit history beyond regular deposits to a savings a/c, age won't come into what sort of rate you'll be offered a loan at.