If you’re considering a secured loan, and are looking for some good quality advice the market has never been more suited to help.
According to a recent report compiled by a leading loan broker society, more brokers than ever are focusing their efforts on secured loans. For the consumer, this presents greater choice with over 25 percent of all brokers sourcing plans from 10 or more lenders. It also ensures you receive better advice, with over 60 per cent of brokers claiming to specialise in the secured loan arena.
Of the total sum of brokers offering secured loan products, only 20 per cent do not advise on payment protection insurance. However, recent studies conducted by the finance industries watchdog has confirmed that it intends to “tighten the reigns” over brokers offering PPI due to reports of miss representation from certain organisations.
On the whole however, the secured loan industry offers great value to the consumer, as overall industry competitiveness, from both brokers and lenders increases.
