Subprime Loans & Mortgages During the Credit Crunch

By Tom Wilkinson
There are still a few specialized lenders in the UK who can find you a loan plan with competitive rates to reflect your individual requirements. There are hundreds of loan plans available to customers, even those with a bad credit rating. They understand that each application is unique; comparing the vast online market enables them to secure loans with top brand name companies, providing a professional service when dealing with your request. Most will offer you a free no obligation quote.
ikely Loan Rates in the Credit Crunch

Fancy a new car, holiday or simply additional finance? Competitive rates are still offered by loan companies who specialize in sub-prime and near-prime lending. Loan amounts can be secured from between £5,000 and £75,000, and lenders offer flexible repayment plans from between 5 to 25 years. However with bad credit you are very likely to be paying over 15% APR for a secured loan. The loans secured can be used for any purpose and applications from people with a bad credit history are still considered, just like before the credit crunch.
 

Likely Mortgage Rates in the Credit Crunch

As well as buying a home, you can also consolidate debts or carry out home improvements with a mortgage. There is one specialist mortgage lender providing a range of mortgage types to those with bad credit, as well as secured loans for homeowners. This loan and mortgage company have only a handful of plans remaining due to the huge shortgage of funds at the moment. Bad credit mortgages are likely to cost you approaching 10% APR during 2009. This company also offers personal loans and remortgages.
 

Think carefully before securing other debts against your home. your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
 

 

 

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