In August 2012, the Bank of England (BOE) and HM treasury introduced an £80bn scheme in order to attempt to encourage the UK banks to up their lending to individuals and smaller businesses. The Funding for Lending Scheme (FLS) ensures that the more a bank lends to its’ customers, the more it can borrow, with…
In a positive sign for lenders and borrowers alike with new figures released showing that second charge lending has increased. Borrowing in January posted its highest levels since 2009. In January, £30.1m was lent to homeowners, the highest monthly total since January 2009 with a total of £53m being lent. These figures highlight a 20.9…
Guarantor lending in the Uk has made its way back as a real option for people looking to borrow but who have a bad or no credit history. The secured loan alternative allows customers to borrow with the assistance for a guarantor to support their loan. The guarantor loan gives the customer flexibility to enjoy…
A secured loan is a loan by which you put forward one of your assets in order to act as collateral for the amount that you would like to borrow. This collateral in turn becomes a secured debt for the lender and if you are to default on your payments, or if you are unable…
When you are looking to obtain a loan it is incredibly beneficial to make sure that you understand exactly how it works. Whether it means looking into the breakdown of the potential loan re-payments or educating yourself on how the interest rates actually work, you will only end up better off for having the knowledge…
People borrow money for all sorts of reasons, whether it is for a car, home improvements or even for a wedding. But knowing exactly what you would like to borrow for, is just the beginning, in fact that is the easy part. Things can start to get a little more tricky when we have to…
A credit rating is an assessment of your spending habits, both current and historical, which works in order to gain a picture of how responsible you are when borrowing and re-paying money. A score of your credit rating is determined by weighing up different aspects of your credit history and it is rated as being…
