Secured loan deals with increased loan to value

The secured loan industry has been shattered by the credit crunch and the banking crisis to such an extent that it nearly stopped functioning, with a great number of secured loan providers either giving up on new business, or leaving the business altogether.
Recent months have seen the signs of recovery on the secured loan market, and some lenders have resumed offering loans, although the majority of them haven’t ventured to do the same.
Loan providers established really strict lending standards since the credit crunch, with high interest rates and low loan to value ratios.
This has prevented many people from obtaining a secured loan, since they have not had sufficient market value of securities to meet lending standards because of plummeting house prices.
However, Positive Lending, the secured loan packaging company, has recently informed that one loan provider, Nemo, is offering secured loan deals again with a maximum loan to value of 85%.
In addition, Nemo is going to offer loans of up to 75% for self employed consumers and 80% loan to value for those with a bad credit rating.
Paul McGonigle, operations director of Positive Lending, says this is certainly the best news for the industry of secured loans because it has long been in dire need of a prime self employed deals with low interest rates. In addition, Positive Lending Company is enthusiastic about the increase in loan to value, expecting it to help the company in assisting a greater number of customers.


The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.