‘Significant divide’ in loan availability expected
25 September 2008
Some people may find the availability of loans decreases as lenders look to improve their “lending quality”, according to one expert.
Speaking to The Independent, David Black, Principal Consultant at Defaqto, said that there will be a ‘significant divide’ in terms of creditworthiness amongst those looking for loans and other forms of credit.
He went on to say that likely drops in the Bank of England’s base rate could benefit borrowers, but that ‘even this will be tempered by many lending products becoming far less reactive to base-rate changes’.
A spokesperson for Think Money commented: “Loans and other types of credit are still available, but the changes we’ve seen in the last year indisputably underline the importance of talking to the right financial solutions provider.”
---
Think Money offer a range of loans to suit people with all kinds of financial histories. If you are considering taking out a loan, contact one of our advisers now
Loans in the news
Universities push for change in student loans system 12 March 2010
`Green loan` energy plan unveiled for homes 5 March 2010
Loans: consumer credit increased in January 2 March 2010
Home loans at 16-year low in Scotland 26 February 2010
New loans increase, but net lending falls 25 February 2010