Loan Empire

Bankruptcy hell during first few months of the year

Some experts have stated that the frivolous spending that many consumers indulged in over the Christmas months will now result in bankruptcy hell over the first few months of this year, with the first three months seeing the level of bankruptcies fuelled by over the top Christmas spending. According to one expert around 28,000 consumers ...

Personal Loans - Secured and Unsecured Loans

There are personal loans available these days for all sorts of purposes, and these loans are all either secured or unsecured. There are many people that will be eligible for either a secured or unsecured loan, but there are many others that will only be eligible for one or the other – and some that ...

Secured Loans For Homeowners

UK loan products fall into two categories: unsecured loans and secured loans. Secured loans are secured on your property which provides security for the lender and some benefits for the borrower. In order to qualify for a secured loan you must have a property or some other asset, even if it's already mortgaged. As long ...

Debt Consolidation Loans - Stop Debt Problems Today

If you watch television or receive mail, then you have seen commercials and read flyers about debt consolidation. What with the ever increasing prices at the everywhere that you shop, you may find that you are paying a little more attention to these advertising attempts. Your money just is not stretching as far as it did ...

Unsecured Loan Options

With a wider range of financial products than ever to choose from these days, consumers in the UK can look forward to finding the perfect solution for their needs and budget when it comes to loans. One popular choice amongst UK consumers is the unsecured loan, and this type of loan is available through a ...

Bad Credit Loans

With consumer debt at an all time high in the UK, many households and individuals have found themselves struggling to keep up with repayments on financial commitments, and all too often this has resulted in missed and late repayments, which has subsequently led to a poor credit rating. Your credit rating is very important if ...

Student Loans

Life as a student can be fun, exciting, and very rewarding, and those attending university can look forward to earning a valuable qualification, developing a range of important skills, developing and enhancing their knowledge, and entering into an exciting and lucrative career after graduating. Unfortunately, life as a student doesn't come cheap, and although many students ...

Bank of England may intervene with access to credit

It has been reported that the Bank of England may take measures to restrict access to mortgage loans capping them to stop lenders giving out risky loans. The claim comes from a senior official from the Bank of England. Charlie Bean, the Deputy Governor from the Bank of England, said that 'direct constraints' may be ...

What route to take to sort out your debt problems

There is little doubt that these days many people are experiencing severe debt problems, and given the difficulties faced by consumers over the past few years with the global financial crisis and the recession taking their toll, it is not surprising that so many people now have huge debts that they are struggling to repay. However, ...

CML argues with FSA over interest only mortgage loans

It was recently announced that the Financial Services Authority was planning to limit the availability of interest only mortgage loans in the UK, which are classed as riskier mortgage loans than the more traditional capital and repayment loans. With interest only mortgage loans the borrower makes repayments on the interest on the loan over the ...

Why are secured loans such a risk?

In the past taking out a secured loan was a very popular way of getting some much needed cash for some homeowners, and there were many people that had equity in their homes who decided to tap into the unlocked cash in their homes and use it for something that they wanted. With a secured ...

Reducing the cost of your personal loan

If you are thinking of taking out a personal loan for whatever reason you need to first determine how much you can realistically afford to repay each month, as this will give you an idea of how much you can afford to borrow and what sort of repayment terms you should be looking for. In the ...

Half of mortgages not covered by life insurance

A recent study has found that around half of mortgages in the UK are not covered by life insurance, indicating that over seven million Brits do not have a proper policy in place to cover their mortgage in the event of their death. The research was carried out by Sainsbury's Insurance and paints a worrying ...

Lenders want FSA to review mortgage proposals

It was recently announced that the UK's financial regulator, The Financial Services Authority, was looking to make some big changes to the mortgage lending market, having put forward a range of proposals that included wiping out self certified mortgages, putting into place minimum deposit levels for lenders, and increasing the checks that lenders would have ...

Consumers should use continued rate cuts to their advantage

Consumers who may be looking for a personal loan are being advised to use personal loan rate cuts to their advantage by ensuring that they compare the options open to them and try to get the best deal. There are a number of lenders, ...

Gold companies reprimanded by OFT

A number of gold buying companies have been issued with a warning from the Office of Fair Trading after it was found that they were treating their customers unfairly. Many people have started selling gold jewellery and items over the past couple of years due to difficulties in getting loans and finance when they need ...

More people likely to need debt advice this year

Over the past few years more and more people have fallen into a debt trap, and have been left struggling to try and keep their heads above water financially because of the challenging financial and economic climate that is hitting so many people across the country. The demand for debt advice over the past couple ...

Beat the interest rates when it comes to loans

When it comes to taking out a loan we all want to get the best deal possible, and this is something that can save us a lot of money on our monthly repayments as well as on the overall levels of interest that we pay on our borrowing. It is important to seek out the ...

Northern Rock offers 10 percent mortgage

Over the past few years getting a mortgage has become increasingly difficult for first time buyers, not least because of the level of deposit that is being demanded by the various lenders. However, according to industry officials there is some light at the end of the tunnel, and some buyers may now find that they ...

Is it wise to borrow against your equity?

Over the past decade many people have taken out secured loans, which are loans that were secured against the equity in their homes. Over the latter part of the 1990s for the next decade property prices in the UK soared, which saw the equity levels of homeowners go through the roof. For those that needed ...

Loan defaults could increase

The Bank of England has warned that the level of loan defaults in the UK could go up over the next few months as a rising number of people start to experience financial difficulties for a range of reasons. It is thought that many people will continue to struggle because of the rising cost of ...

Seek help over your mortgage repayments

It has been revealed recently that the level of defaults on mortgages has increased again in the first quarter of this year, even though the base rate still stands at just 0.5 percent, which is the lowest level in the history of the Bank of England, which spans over three centuries. Lenders said that the ...

Many cannot sleep because of their debts

According to a leading debt charity there are many people that are unable to sleep as a result of their debts, which are causing them huge amounts of stress and worry. Many people are now in huge levels of debt and are over-committed when it comes to their budget. This is causing them a lot ...

Lending appeals process launched by banks

It has been announced that banks in the UK have launched a new process whereby small businesses that are turned down for a loan when they make an application can appeal against the decision to refuse them the loan. Officials from the British Bankers' Association said that this was one of a number of new ...

High Court rules against the banking industry

For a number of years the topic of Payment Protection Insurance, or PPI, has been a hugely controversial one, following claims that millions of people had been mis-sold the cover over the years. Consumer groups have been campaigning to ensure that those that were mis-sold the cover are compensated but the banking industry has said ...

Increase recorded in repossession numbers

It has been reported recently that the number of repossessions has increased as cash-strapped homeowners once again struggle to cope with finances and keep up with repayments. The figures relating to repossessions was released by the Council of Mortgage Lenders, causing concern amongst many officials that people are now struggling again due to the soaring ...

Personal loan rates at highest in a decade

It has been reported that rates on personal loans in the UK have reached their highest level in a decade, making it even more important for consumers who are considering taking out a loan to ensure that they compare the rates being charged carefully. The base interest rate is still at its all time low ...

Many will struggle with finances for years

There are already many people across the UK who are struggling with their finances and are finding it very difficult to cope with the increasing outgoings and their problem debts. However, according to a recent report the situation could continue to get worse for many working people in the middle and lower classes as a ...

Loan protection is still necessary

Over recent years there has been a lot of new coverage about the mis-selling of payment protection insurance, or PPI, on loans, credit cards, and other forms of finance. This has been in the headlines more than ever over recent weeks, after a court ruling that resulted in banks having to compensate and reimburse consumers ...

Rents to continue going up

A recent report that has been released by the Royal Institute of Chartered Surveyors has shown that rents in the private sector are continuing to rise, which could result in many non-homeowners being frozen out of the property rental market as well as the mortgage market. For some time, first time buyers have been struggling ...

Paying off credit cards with a loan could be beneficial

It has been suggested in a recent report that many people in the UK that have high levels of credit card debt could actually benefit by paying off their high interest credit card debt with a lower interest personal loan. Around one third of people in the UK have admitted that their personal debt levels ...

Loan and mortgage rates drop

For many borrowers in the UK there has been some welcome news recently, after it was revealed that both mortgage and personal loan rates have been falling. For those that are taking out mortgages, thinking of refinancing, or wish to take out a personal loan this could mean significant savings on the cost of their ...

MPs want to tackle legal loan sharking

In the current difficult financial and economic market a huge number of people have found themselves in dire straits in terms of their finances. With the cost of living rocketing due to soaring petrol costs, spiralling inflation, food price hikes, higher bills, and more, there are many people who have been struggling to make ends ...

Low earners owe 20 percent more than they earn each year

It has been revealed in a recent report that people on lower incomes tend to owe around 20 percent more in unsecured debts than they earn each year. This includes debts such as credit cards and loans, with many lower income earners struggling to stay on top of repayments for their debts. Whilst there are now ...