Fast Approval Loans

Prior to the credit crunch, when house prices across the UK were increasing at an alarming rate, many people took out secured loans and re mortgage loans on their properties when they wanted to raise capital. High equity levels meant that it was easy to get a secured loan on a property for practically any purpose from home improvements to a debt consolidation loan and many home owners would secure a loan on their property in the belief that the value of their home could only ever go up.

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Borrowing On Home Owner Loans Falling

A large number of people in the UK have some form of debt against them, whether this is just a home owner loan, or personal loans and credit card debts. Whilst some individuals worry about their loan debt levels, others seem unconcerned about how much they owe and are quite happy to take out more loans and credit. A new survey from the insurance company Bright Grey, has found that the average person in the UK does not consider themselves to have a serious loan and card debt problem until they reach a level of £14,416 in unsecured loans and credit card debts.

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How Serious Is Your Loan Debt?

If someone applies for a new personal loan or credit card, they can certainly expect to have their credit history checked by the provider of the loan in order to assess their credit worthiness and whether or not they are a good risk for the loan or credit they have applied for. But a new report from one of the UK’s leading credit reference agencies has shown that a growing number of employers are now checking the credit history of job applicants before they are offered a position, as a standard part of the job application process

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More Employers Checking Staff Loan History

It is not just individuals who are struggling with their loans and finances in the current economic conditions, many small and medium sized businesses are also finding it difficult to keep their heads above water, with many struggling with cash flow for things like business loans and wages bills.

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Small Business Owners Taking Re Mortgage Loans

The number of home owners struggling to stay on top of their personal loans and other debts is expected to rise in the near future, due to the increasing monthly costs of home owner loans and mortgages, according to one debt charity. The Consumer Credit Counselling Service (CCCS) has commented that although many home owners are currently managing to keep up with all their regular personal loan, home owner loan and credit card repayments, this is largely due to the current low cost of their mortgage or home owner loan. However, with a number of banks and building societies now increasing their standard variable rates on existing loans, some borrowers who could previously cope with their loan debts may now be tipped over the edge with the finances.

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More Home Owners To Struggle With Loan Debts

Following an investigation which has lasted for a total of three years, the Office of Fair Trading has finally managed to close down one of the UK’s largest loan broker companies, by cancelling its Consumer Credit License.

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Yes Loans Shut Down By OFT

The Bank of England’s Monetary Policy Committee (MPC) held its usual monthly meeting last Thursday (5th April) to discuss the state of the economy in the UK and to set the base rate of interest for loans and savings for the coming month. It came as no great surprise to anyone, that the MPC took the decision to keep the base rate on hold at 0.5 per cent for yet another month, as the economy is not yet strong enough to stand an increase in home owner loan rates. The current programme of quantitative easing was also kept on hold at £325 billion

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Loan Rates To Stay On Hold

As banks and other traditional loan companies continue to make it difficult for people to get the loan they need, or provide a decent return on savings and investments, more and more individuals are looking for alternative homes for their savings and a cheap loan.

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Credit Union Loans On Increase

Over the course of the past few years, equity release loans have grown significantly in popularity as a serious means of additional retirement planning for home owners who do not have enough in their pension plans or savings arrangements. Equity release loans first began back in the sixties and soon developed a bad name and reputation for themselves, by often leaving borrowers in debt, with a lack of income and possibly even negative equity on their loan

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New Trade Body For Equity Release Loans

Consumers across the UK have been urged to start saving now for next Christmas, as a new survey has revealed that an alarming proportion of the population is still paying of personal loan and credit card debt which they built up over the course of the festive season last year. The news comes from research conducted by the Halifax, who have found that somewhere in the region of 14 per cent, or one in seven, of the population are still trying to pay off their debts from last Christmas, in the form of a credit card, overdraft or personal loan

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Brits Still Paying Christmas Loan Debts