The last 12 months have not been good for secured loans. By all accounts, the market has been flat since the start of 2016. However, that has banks eyeing room for growth for the remainder of 2017. There is plenty of room to grow if banks are willing to compete.
Banks have been pretty lax with credit card lending for the last 18 months or so. Fierce competition has led them to extend more generous credit card offers with more liberal terms. But those are coming to an end, according to the BoE. Conversely, secured lending could be poised for growth.
Debt consolidation is one way to pay off credit cards, personal loans, and other forms of credit weighing down a person's budget. As such, the loans are extremely popular in the UK. Smart debt consolidators know the strength of consolidation loans and how to use them to settle their debts.
The home refinancing market looks to have a strong 2017 as evidenced by an annual report published by Fitch Ratings. Market conditions here are favourable for a moderation of house prices as well as more homeowners looking to refinance current homes instead of attempting to move up the property ladder.
We know Britons are very good borrowers. Do they repay as well as they borrow? For some people, repaying a heavy load of indebtedness boils down to taking out a consolidation loan. But before this is done, a borrower should sit down and honestly assess his or her debt problems.
Are you an average homeowner? If so, you left home at 21, and you will live in seven different houses before you die. You will also spend more than £26,000 on home renovations. The only question relating to those renovations is how you'll pay for them. A home owner loan, perhaps?
Commercial and residential property owners looking to remodel or expand often do so using property development loans to meet their financing needs. Fortunately, there is more than one way to finance commercial and residential property development. Borrowers have multiple options including traditional mortgages, bridge financing, secured loans, and even buy-to-let mortgages.
A soft housing market combined with other factors to bring down the total number of mortgage approvals during the first quarter of 2017. Still, there is no need for concern at this point. People are still borrowing. They are just doing so a bit differently – with credit cards and secured loans.
We source the best rates from the whole market
- Borrow up to £2,500,000 Depending on the Equity in Your House.
- Adjustable Repayment Terms from 3 to 30 years.
- Secured Loans Can Be Used for Almost any Purpose.
- Low Interest Rates.
- Rapid Approval - Low Arrangement Fees.
- Options for Homeowners with Bad Credit History.