Since the credit crunch and banking crisis hit the UK several years ago now, many people have been struggling with their home owner loans and have found it increasingly difficult to maintain their monthly loan repayments, despite the particularly low loan rates which have been charged by many lenders for the past couple of years [...]
Many people in the UK opt for a secured loan when they want to borrow money, rather than an unsecured loan, particularly when the loan is for a larger amount. When most people think of a secured loan, they immediately assume that their home will be the item which is used as the security for [...]
Since the effects of the credit crunch hit the housing and home owner loan market in the UK, property prices have seen some significant falls which has led to many borrowers facing negative equity on their home owner loan or mortgage.
The latest figures from the Council of Mortgage Lenders (CML) has estimated that somewhere in [...]
Since the credit crunch hit the UK, the overall loan market in the country has suffered, due to tighter lending criteria from loan companies and a more cautious approach towards taking on loans and other debts from consumers who are wary of the future of the UK economy.
As result of this, the loan and credit [...]
The Office of Fair Trading (OFT) has announced that it has issued a warning to the secured loan provider Swift, who trade under the names of Swift Advances PLC and Swift Securities and specialise in secured loans in the sub prime and bad credit loan markets.
The OFT found that the loan company has been offering [...]
One of the cheapest ways for an individual to obtain a loan or finance is to use the equity which has built up in their home, either by taking out a secured loan, re-mortgaging their home, or taking a further advance loan from their existing lender.
Whilst all of these different types of loan are basically [...]
Over the course of last year, the number of people who had their homes repossessed through defaulting on their home owner loan or other secured loan, was actually below the predicted level of most industry experts, largely due to government help schemes and tolerance from loan providers.
However, the situation could be set to change in [...]
