Great News For Secured Loans

During the credit crunch the secured loans market has been hit hard.

Many of the well known secured loan lenders stopped lending and left the secured loans market while other lenders have been badly hit and finding get funding very hard. 

There has been a few secured loan lenders that have stayed in the market all though they have withdrawn products. 

Before the credit crunch you could borrow up to 125% but the best situation is 80% for employed and 75% for self employed.  But there has been GREAT NEWS ANNOUNCED and a lender has increased this to 85% and also have introduced products for self employed applicants. 

These are very good signs that the secured loans market is improving and more homeowners will be able to apply for a secured loan.  Not only are LTV increasing but lenders are also reducing interest rates which again is very good news for the market.

Not only are we witnessing signs of improvements but house prices are also increasing which means more homeowners have equity in their properties and when looking to raise finance can look at secured loans

Lets hope that other secured loan lenders will see this fantastic product and what it has to offer and hopefully they will also follow.