We would like to take this opportunity to wish all our customers and potential customers a very happy Easter.Our offices will be closed on Friday 21th and Monday 24th. However we will reopen on Tuesday the 25th March. During these times you can apply for a secured loan using our online application form and we will deal with it immediately when we return.

Holiday times are a good time to relax with your family and friends. However people use this time to reflect about their finances.  It can be a good time to consider taking out a consolidation loan that can be secured on your property and this can cut your monthly bills by over half. This lower payment will also be fixed so you can budget easier from now on.

A secured loan for debt consolidation can also be spread over as many as thirty years so the payment can be lower however you should be aware that the longer it is paid over the more you will pay back in interest.

Even though there many problems in the world markets at the moment there are still good deals in the secured loan market. We charge no up front fees so it will cost you nothing to apply.

There have been hugh numbers of people looking for secured loans to consolidate debt since the christmas period. It is however hardes to get secured loans as lenders have tightened up on who they give money to.

However not only are borrowers been hit by higher rates, but many providers have also cut rates for people with saving accounts despite the base rate remaining at 5.5%.

One of the top banks in the UK last week announced that that it was cutting saving rates for the third time in as many months. Most of the online banks have also cut their rates leaving savers out of pocket.

There is a very good chance that there will be another rate cut in the near future so people with savings are warned to ensure that they can get the best deal whilst they can.

So the credit crunch is affecting every part of the financial market not just the secured loan and mortgage products provided by lenders.

The American creidit crunch and its wider effects have been very well documented over the last few months. The Uk has felt a big effect and coupled with things like the Northern Rock take over and the recent interest rate hikes it has seen big changes in the secured loan market and this has effected the way people have consolidated their debt. 

The lenders have tightened up a lot over the last six months and the loan to value has gone down. The people with a bad credit rating will struggle to get a loan that will bring their loan to value over 80%. This means that if you have missed mortgage payments or defuaulted on any payments in recent years then you can only borrow up to 80% of the the value of your home when mortgage value has being added.

The loan to value for people without bad credit can be 100% however other things like income and other outgoings are considered before you can be accepted for a debt consolidation loan.

So to sum up you can still cut your monthly outgoings with the use of a debt consolidation loan however it can be harder to get these loans with the changes that have taken place over the last few months involving lenders.

The big decision about secured loan rates and mortgage rates has been made.After a few months of will they put the rates up or put them down the Bank of England  has taken the decision to keep them as they were.

This has implications for secured loans and indeed all types of lending. If the rates came down it would make re-mortgage more attractive but secured loans are still a very popular especially after the high spending that took place over the christmas period.

The Bank of England probably made the decision the try and control inflation because usually if interest rates go down people tend to borrow more and therefore spend more. The secured loans industry has been very busy in 2008 with a lot of applications for debt condolidation being applied for.

Over the next few weeks our website will be changed to a secured loan comparison website. We will be able to compare over 700 different loan products from a variety of lenders. We will keep you updated in further blogs. Â