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Friday 20th of June 2008

Latest Loans News

The latest news on loans and lending:

April 23, 2008

Welcome Car Finance to concentrate on its own outlets

by Kay Murchie
”Welcome
Welcome Car Finance, which specialises in loans to those with a poor credit rating, has withdrawn funding from hundreds of independent dealerships and is to concentrate on its own outlets. The group aims to focus on this business as it is more profitable than providing finance to third-party dealers. The move by the group will mean the thousands ...



December 19, 2007

Provident Financial picking up high risk customers

by Kay Murchie
”Provident
Since the start of the global credit squeeze, banks and lenders are tightening their lending criteria meaning borrowers are struggling to get credit. These borrowers are turning to sub-prime lender, Provident Financial, who specialise in short-term, unsecured cash loans, generally between £50 and £500. Local agents deliver the money to their customers’ homes and call on a weekly basis to collect ...



November 9, 2007

Higher loan rates inevitable

by Kay Murchie
”Higher
Almost 50% of those applying for loans have been rejected - up from a third just 6 months ago. In addition, lenders have tripled their rates for high risk customers. Several loan providers have indicated that they are to pull out of the unsecured loan markets as the scarcity of credit continues following the summer’s sub-prime credit crisis, furthermore, loan rates have been driven ...



October 15, 2007

Personal loans rate cut at Barclays

by Kay Murchie
”Personal
Interest rates on personal loans have been cut at Barclays by up to 0.6%, while its rivals are increasing rates following the global credit squeeze as a result of the problems in the US sub-prime mortgage market. Barclays is offering a rate of 6.8% on the Barclayloan Plus product, which is aimed at existing customers and the bank is certain it can ...



September 18, 2007

Best loan rates from the Alliance & Leicester

by Kay Murchie
”Best
Alliance & Leicester has declared that its new personal loan rate is the best in the UK. The new interest rate is 6.3% and is on offer to new customers as well Premier and Premier Direct holders and is available from September 17th to November 4th. A spokesperson for the Alliance & Leicester said borrowers can take advantage of the ...



August 8, 2007

No credit history could be a setback

by Kay Murchie
”No
Research from Experian, the global information solutions company, has shown that a consumer without credit history may encounter difficulties due to the fact that lenders have nothing on which to base their decision. Experian commented that the amount of people opting not to register on the electoral roll is also an obstruction - this is the most important method of assessing ...



Loan rates continue to increase

by Kay Murchie
”Loan
According to Moneyfacts.co.uk, the independent financial website, the last 12 months has seen a vast amount of rate increases and this has steadily been sifting through into the personal loan market. In just 2 weeks, 18 lenders have increased loan rates by as much as 4%. Generally, the rise has affected larger loans, typically over £5,000. These rate increases reflect the way ...



May 17, 2007

Difference between Bank of England interest rate, loan interest rates narrows

by Elaine Frei
Difference between Bank of England interest rate, loan interest rates narrows
A new study from moneysupermarket.com shows that loans such a debt consolidation loans and homeowner loans are cheaper than they have been in recent memory. The price comparison website has found that the difference between the Bank of England’s base interest rate and average interest rates for all kinds of loans has narrowed. In March 2003, ...



February 23, 2007

Refund Loans - Don’t Go There

by Kathyrn Lang
As if the traditional loans, the credit cards, and the banks weren’t taking enough of the average man’s wages – now tax preparers are popping up to take the tax refund even before it makes it to the people’s hands. It’s not “interest rates” that are eating up the tax refunds. Instead, companies are calling it an advancement fee or extra fee. Basically, the company that does ...



February 13, 2007

Flexible Loans – The Wave of the Future

by Kathyrn Lang
Flexible Loans – The Wave of the Future
The consumer is gaining more control over lending options with the introduction of flexible loans. These new loans are a result of flexible banking. This practice allows the interest that comes from a savings product be used to offset interest on borrowing products. As the popularity of flexible banking continues to increase, it is likely that ...



Consolidation Loan – When Is It Right

by Kathyrn Lang
Consolidation Loan – When Is It Right
Consolidation loans are all the rage. In a society that seems more proud of its ability to grow debt than its ability to pay it off, consumers are digging themselves into holes that are almost impossible to get out of. With credit card offers coming in the mail like leaves falling off the tree in the fall, it’s no wonder ...



Bridging Loan – the Who, What, and Why

by Kathyrn Lang
Bridging Loan – the Who, What, and Why
It’s the perfect house, and you have to have it. The problem is that your existing house is still on the market and it might not sell in time for you to get this home of your dreams. A Bridging Loan may be the answer to your predicament. At its basic, a bridging loan is an interest only ...



January 30, 2007

Bad Credit Loans Aren’t Always A Good Idea

by Kathyrn Lang
It is possible to get a loan even with a bad credit rating, but is it the best idea? Bad credit loans have a higher interest rate, higher penalties, and cost more in the end than traditional loans. Before choosing to go down the road of a bad credit loan, take evaluate the circumstances surrounding the need. 1) Will the bad credit loan be a bandaid to bad budgeting and spending habits? ...



Bad Credit Loans - Who Makes Them, Who Gets Them

by Kathyrn Lang
Just how bad does credit have to before a loan company refuses a bad credit loan? Have you ever tried this tongue twister? As hard as it is to say, it’s just as hard to answer. The difficulty lies in the fact that the question comes in two parts – the lenders and the borrowers. The Lenders Banks are the most conservative of the lending institutions. These companies have to ...