Almost everyone in not only in the UK but throughout the civilized world except perhaps the most affluent people in society at some time or the other require a loan.
Even people who are relatively comfortable and have money in the bank often feel safer keeping it in their account in case of anything going wrong in the future when the savings will be required, and subsequently they often prefer to take out a loan than to pay cash.
If we were God and could see the course of the life that lies ahead we may feel different but we are only fallible human beings who can quite suddenly suffer from an illness making it impossible for us to work.
Also no one with hand on heart can be 100% sure of their employment security, and as has been witnessed during this credit crunch redundancy can happen when we least expect it.
Loans are money that we obtain from a loan lender to which interest is added to enable the loan lender to make money on the loan funds they have advanced.
Loans are essential to the lives of a vast majority of people.
Loans in their various forms are also an important part of the economy of every civilized country.It is a healthy economy when there is the correct balance between those advancing loans and those obtaining loans.
It is when the granting of all shapes and forms of loans reaches crazy lax proportions, and when those borrowing these loans receive the loans with no hope of ever paying them back that the economy of a nation collapses, and we all know all about this at present.
Loans are a requirement of civilized society but both the loan lender and the loan applicant must make sure that the loan borrower can always afford the monthly loan repayments. It was the reckless lending of all types of loans and especially self certification mortgage loans that in fact precipitated the current economic crisis.
Even people who are relatively comfortable and have money in the bank often feel safer keeping it in their account in case of anything going wrong in the future when the savings will be required, and subsequently they often prefer to take out a loan than to pay cash.
If we were God and could see the course of the life that lies ahead we may feel different but we are only fallible human beings who can quite suddenly suffer from an illness making it impossible for us to work.
Also no one with hand on heart can be 100% sure of their employment security, and as has been witnessed during this credit crunch redundancy can happen when we least expect it.
Loans are money that we obtain from a loan lender to which interest is added to enable the loan lender to make money on the loan funds they have advanced.
Loans are essential to the lives of a vast majority of people.
Loans in their various forms are also an important part of the economy of every civilized country.It is a healthy economy when there is the correct balance between those advancing loans and those obtaining loans.
It is when the granting of all shapes and forms of loans reaches crazy lax proportions, and when those borrowing these loans receive the loans with no hope of ever paying them back that the economy of a nation collapses, and we all know all about this at present.
Loans are a requirement of civilized society but both the loan lender and the loan applicant must make sure that the loan borrower can always afford the monthly loan repayments. It was the reckless lending of all types of loans and especially self certification mortgage loans that in fact precipitated the current economic crisis.
