During the present economic climate many UK citizens consider that bad credit loans have ceased to be.
This lack of complete understanding of the situation regarding bad credit loans does make sense as after all it was to some extent due to the lax lending and slack underwriting criteria connected with bad credit loans includiing the advancing of bad credit self certification secured loans, mortgages nd remortgages which helped precipitate the current economic climate.
All through history it has been impossible for non homeowners to be accepted for a bad credit loan. Even tenants with great credit ratings find it difficult to obtain a loan now. Lenders really want some sort of security when they grant a loan.
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%
Though not as easy now as two or so years ago, it is still possible to obtain bad credit loans..
If a homeowner has a little bad credit he can be granted a bad credit loan at a LTV of 60% to 70%.
There are two secured loan lenders who still advance bad credit secured loans to individuals with unlimited bad credit points. These lenders are Blemain Finance and First European Securities. These bad credit secured loan borrowers can have unlimited defaults, etc.
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.
This lack of complete understanding of the situation regarding bad credit loans does make sense as after all it was to some extent due to the lax lending and slack underwriting criteria connected with bad credit loans includiing the advancing of bad credit self certification secured loans, mortgages nd remortgages which helped precipitate the current economic climate.
All through history it has been impossible for non homeowners to be accepted for a bad credit loan. Even tenants with great credit ratings find it difficult to obtain a loan now. Lenders really want some sort of security when they grant a loan.
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%
Though not as easy now as two or so years ago, it is still possible to obtain bad credit loans..
If a homeowner has a little bad credit he can be granted a bad credit loan at a LTV of 60% to 70%.
There are two secured loan lenders who still advance bad credit secured loans to individuals with unlimited bad credit points. These lenders are Blemain Finance and First European Securities. These bad credit secured loan borrowers can have unlimited defaults, etc.
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.
