During the present economic climate many UK citizens consider that bad credit loans have ceased to be.
It makes sense that many think this, as bad credit loans, bad credit mortgages and bad credit remortgages precipitated the credit crunch. Underwriting in the homeowner loan industry in general caused much of the financial crisis that most of the civilised world has experienced in the course of the last two odd years.
It has always been extremely difficult for people who do not own a property to get a loan of any kind even if their credit file is good. For those with a poor credit rating it has always proved difficult to get a bad credit loan. Welcome Finance did offer small bad credit loans to tenants at high rates of interest, but with the demise of Welcome these bad credit loans are no longer available at all.
Homeowners are in a better situation, and in fact until the advent of the credit crunch bad credit loans were quite readily available from a good range of secured bad credit loan lenders. Even homeowners with the most awful credit rating could get a bad credit loan up to a maximum LTV of 75%
Bad credit secured loans are not so easy to obtain now as they were then, but so saying there is some availability even now.
If a homeowner has a little bad credit he can be granted a bad credit loan at a LTV of 60% to 70%.
For homeowners with C.C.J's , defaults and mortgage arrears there are still two bad credit secured loan lenders who will consider looking at advancing a bad credit loan to homeowners with extremely bad credit files, and they accept unlimited adverse points.
The best LTV available however is restricted to 50% and the loan limit is 23,000.
These bad credit loans are still available in a restricted way, and they can be a great help to homeowners at a time when they most need help by means of additional funds. - 30462
It makes sense that many think this, as bad credit loans, bad credit mortgages and bad credit remortgages precipitated the credit crunch. Underwriting in the homeowner loan industry in general caused much of the financial crisis that most of the civilised world has experienced in the course of the last two odd years.
It has always been extremely difficult for people who do not own a property to get a loan of any kind even if their credit file is good. For those with a poor credit rating it has always proved difficult to get a bad credit loan. Welcome Finance did offer small bad credit loans to tenants at high rates of interest, but with the demise of Welcome these bad credit loans are no longer available at all.
Homeowners are in a better situation, and in fact until the advent of the credit crunch bad credit loans were quite readily available from a good range of secured bad credit loan lenders. Even homeowners with the most awful credit rating could get a bad credit loan up to a maximum LTV of 75%
Bad credit secured loans are not so easy to obtain now as they were then, but so saying there is some availability even now.
If a homeowner has a little bad credit he can be granted a bad credit loan at a LTV of 60% to 70%.
For homeowners with C.C.J's , defaults and mortgage arrears there are still two bad credit secured loan lenders who will consider looking at advancing a bad credit loan to homeowners with extremely bad credit files, and they accept unlimited adverse points.
The best LTV available however is restricted to 50% and the loan limit is 23,000.
These bad credit loans are still available in a restricted way, and they can be a great help to homeowners at a time when they most need help by means of additional funds. - 30462
No comments:
Post a Comment