Improvements To Secured Loans

Things have been very tough for the secured loans industry since te start of the recession, the end of which did not witness much of an improvement regarding the plight of the poor old ailing once so popular secured loan. The state of these homeowner loans, that can be a good alternative to remortgages, were in decline for a number of reasons such as the loan to value accepted, the status of the applicant, the interest rate charged, etc For a while the maximum LTV was 75% for self employed people and 85% for those who are employed.Matters have now improved over the past few weeks with a 90% secured loan plan although the biggest loan available is £15,000. One secured loans lender is now advancing secured loan at 80% LTV for the self employed but these secured loans are only available in England and Wales. Link Loans have brought out a new best since 2008 interest rate at 7.9% and since the 7th of March the same low rate has been also introduced by Nemo It is hoped that these are only the beginning of improvements to these so very useful products that can be used for so many purposes including the very cost saving debt consolidation.