(2010-05-06) Secured Loans For Bad Credit And Self Employed Loans Are Now Available
Champion Finance is providers of loans, homeowner loans, secured loans, debt consolid
Before the credit crisis <a href="http://www.championfinance.com">secured loans</a> were readily available for all circumstances. Secured loan lenders were bending over backwards to offer all sorts of these homeowner loans, including self employed loans, bad credit secured loans and there were even plans for those homeowners with little or no equity in their property. The secured loan lenders, First Plus, EPF and Paragon were prepared to advance these secured loans at 125% of equity which meant that homeowners could obtain a homeowner loan of up to 25% more than the value of their property. For example if a property was valued at £200,000 and the mortgage balance was £190,000, it was in theory possible to be granted a secured loan of up to £60,000. This was all very well when property prices were rocketing but when the values started to plummet during the recession the story was very different.. EPF and First Plus are no longer trading and Paragon is only granting further advances to existing customers while at the same time not granting any new secured loans. Bad credit secured loans were also granted before the credit crunch but these loans soon disappeared from the market. Self declarations of earnings for self employed, so very common prior to the recession also disappeared, not only for secured loans, but also for those wanting a remortgage. Things were dire in the homeowner loans sector that is until very recently. There is now availability of self employed loans through Link Loans who deal through intermediaries such as Champion Finance. They are prepared to consider advancing secured loans without accounts to the self employed as long as they have been trading for a minimum of six months, have three months bank statements and the loan to value can be no ,more than 60%. There is also a strong rumor that Paragon is returning to the secured loans market in the near future making it all good news at last for secured loans. Especially as once again some secured loan lenders are prepared to advance bad credit loans.
About Us: Things were dire in the <a href="http://www.championfinance.com">homeowner loans</a> sector, that is until very recently.
Contact Info: G1 4AA,Glasgow,London,United Kingdom,Post Code: w1g 9qr
Additional:
Company: Champion Finance
Country: United Kingdom
Contact: Avril Moir
Website: http://www.championfinance.com
Bus E-Mail: remortgage21@gmail.com
Phone: 0800833396
