Secured loan market is still thriving
26/03/09
The recession and the downturn in the UK economy has resulted in many people looking for ways in which they can raise some finance. Managing director of Loan Options commented that the secured loan market is still thriving and is alive and kicking he reassured brokers.
Mr. Moody comments, “Brokers seems surprised to find out that they can still get second charge business away in this market. At Loan Options, we are completing deals every day.”
He continued, “Admittedly, the possible lending sources have shrunk but advisers need to know that far from being shut for business, there is still a vibrant industry fulfilling the needs of thousands of customers and the industry needs to do more to publicise the fact.”
“We have access to secured loans up to 75% for employed, up to 70% for self employed and up to 60% on buy-to-let and we can arrange sums from £500 to £100,000. The industry as a whole needs to communicate better that it is actually waving to attract new business and not drowning as seems to be the popular conception.”
