Loans Blog

A spokesperson at thinkmoney.com has spoken of the reduced availability of the secured loan, as a result of the credit crunch. There are still, however, a range of personal loan solutions available to those who find themselves in financial difficulty.

"Depending on the individual's circumstances, a number of other debt solutions may be more appropriate than a secured loan, such as a debt management plan, an unsecured consolidation loan, an IVA (individual voluntary agreement) or, for residents of Scotland, a trust deed," said the spokesperson.

British Gas has indicated, as a result of a self-commissioned report, that energy prices will see a substantial increase in the near future.

The report cites Britain's depleting North Sea reserves as the reason for the hike, with a growing need to import natural resources which will be subject to greater fluctuations in price.

With many people already finding it difficult to stay financially afloat, as we begin to feel the real pinch of the credit crunch, it may be a good time to consider debt consolidation as a solution. A personal loan for debt consolidation purposes could allow people to spread their monthly outgoings, in order to free up some cash for the increasing cost of essentials, such as energy bills.

For a fast solution to a temporary shortage of cash, small personal loans are widely available. This is an increasingly competitive sector, so it makes really good sense to do your homework - the best place to compare the vast array of loans on offer is online.

In many cases, you can fill out one easy personal loan form to compare multiple loan companies and find the best deal available to you, based on your individual requirements.

Debt consolidation is a widely understood type of personal loan these days. However, fewer people are aware that a consolidation loan can be arranged for business debt as well as just personal debt.

If you think a business debt consolidation loan could be appropriate for your circumstances, talk to a loans professional for some informal advice.

Okay, that's not quite how the song goes, but countless numbers of people feel the need to celebrate as they clamber out of the debt trap via a debt consolidation loan.

One of the main benefits that people report, after arranging a personal loan for consolidation purposes, is the sheer relief of finally having a plan in place with a visible, workable target to becoming debt free.

(Just don't celebrate with a month in The Bahamas or something, or you might find the plan a bit hard to stick to - think more along the lines of cake and drinks with friends and you should be okay!)

Secured loans are still generally regarded as the most efficient way to borrow significant amounts of cash through personal loan finance.

A secured loan is the most appropriate type of personal loan for anyone needing to finance the purchase of a house or other property, a car or maybe just make some home improvements.

It's widely acknowledged that it's usually significantly more costly to walk into a bank and arrange a personal loan.

Make sure you do your homework on the web and check out online loan rates before you make any kind of commitment.

A financial expert has warned that the availability of personal loan products could well reduce even further in the coming months.

First Plus is the latest company to withdraw the provision of personal loans from its services.

Michelle Slade, a market analyst from Moneyfacts, has reportedly suggested that the market will shrink further now that one of the biggest lenders has withdrawn.

Michelle said: "Unfortunately, many lenders are no longer finding secured loans a viable business option."

According to mortgagesorter.co.uk, the current financial climate makes it a bad time to use a bridging loan, as a mortgage loan will currently be harder to arrange in order to repay it.

This is good advice, and definitely worth taking note of. However, as with any type of personal loan, the message here is 'look before you leap'. That may seem obvious, but many people still don't consult a personal loan adviser before entering into loan agreements which later land them in trouble.

Take the time to talk to a loans professional, obligation free, before making any kind of loan arrangement - it takes only minutes and could save you from years of financial hardship. Call 0844 560 7703 for some invaluable professional loans advice.

The older you get, the faster the years seem to go by - that's just a fact. Perhaps that's why things also seem to get more expensive, more quickly? Or perhaps that's just because things DO get more expensive more quickly...

Sadly, one of the most notable increases in the past year is personal loan rates. If you took out a personal loan of £5,000 in April 2007, the average rate would have been 8.21 percent. By the time we reached April 2008, that rate had increased to 9.85 per cent.

Approvals for mortgage applications have dropped by a staggering 56 per cent over the last twelve months as the credit crunch takes hold of the housing market.

This is especially worrying news for people with a bad credit rating. However, with the right professional personal loan advice, it is usually still possible to arrange a bad credit home loan at an affordable rate and beat the trend.

"Can you lend me a tenner until I get paid next week?"

If you've never had to utter these words to a life-saving friend, then you're in the extremely lucky minority of people who haven't had to call in a few favours now and again to make ends meet.

Most of us rely on friends and family now again to help each other out. The recent increase in payday loan companies is entirely based on an extension of this principle.

A payday loan is usually offered as a percentage of a wage payment you know you will shortly be receiving. But this is not your mum or your best mate, so they will also take their commission, of course!

Payday loans are quick and easy, but the interest rates are often far higher than many other types of personal loan arrangements which may be available to you. Even if you need money fast, it's always worth checking out your options by seeking some free personal loan advice. After all, every little outgoing that you can save each month will take you further away from the need to borrow anything at all.

In times of financial shortfalls, such as many of us currently find ourselves, a home equity loan can be a smart step to take.

A home equity loan allows you to release some of the equity locked into your house to fund home improvements or repairs etc. This can protect the investment you have already made in your home as well as adding value to it.

Debt consolidation is available to many different people in many different financial difficulties. Students, who inevitably find themselves in substantial levels of debt, could benefit from seeking student consolidation loan information from a personal loan adviser.

If you need some professional advice on how best to tackle your student debt, call 0844 560 7703 today.

There are hundreds of useful tools on the web to help you decide how much you can afford when taking out a personal loan to finance a new car purchase. Just type "car loan calculator" into Google and you're away...

It's all very well going on a blind date with the hope of finding love - if you come away with nothing, you've lost nothing so anything more is a bonus.

It's a different story when arranging a debt consolidation loan, though. If you pick one of these without seeing what you're choosing first then you're stuck with it - like it or not. Be sure to get professional loan advice before entering into any agreement or you could end up paying out a 'lorra, lorra' money!

For many people, the idea of taking out a personal loan is the absolute last resort in finance - reserved for a collapsed roof or a medical emergency.

At the opposite end of the scale, there's no shortage of people who would happily take out a personal loan to fund the purchase of a large mixed kebab and a night out!

We all know which of these makes more financial sense, but the optimum balance between finances and quality of life probably lies somewhere in between.

With stress levels at an all-time high in our society, taking out a personal loan for a trip of a lifetime might not be the act of pure indulgence it seems. The psychological benefits of escaping the stresses of everyday life and taking a holiday you will remember forever can far outweigh the inconvenience of the repayments.

The most commonly understood type of bridging loan is one that is taken to fund the purchase of a new property prior to the sale of an existing one - meaning that the temporary financial shortfall can be breached until the repayment funds are released.

But bridging loans can be used for quite a variety of other circumstances. For example, if a company sees a great opportunity to make a profit on a volume stock purchase, but is in financial difficulty, the company can arrange short-term bridging loan finance to fund the purchase of that stock. They can then repay the bridging loan once the stock has been sold and use the profit to get company finances back on track. It's simple and it works.

You can apply for a personal loan for pretty much anything these days - all purposes will be given due consideration by the lender so it's always worth inquiring, even if you think your reason is a little unusual.

Some typical reasons that people take out a personal loan for include funding further education, home improvement, wedding costs, holiday expenses, buying a new car and debt consolidation. There are many, many more purposes for a personal loan too.