After a very depressing two years, Champion Finance, the Scottish based finance broker who have been trading for 26 years and have arranged thousands of secured loans for debt consolidation etc,
Online PR News – 04-May-2011 – – After a very depressing two years, Champion Finance, the Scottish based finance broker who have been trading for 26 years and have arranged thousands of secured loans for debt consolidation etc, mortgages and remortgages for customers throughout the whole of the U.K., have seen a vast inprovement in market conditions since the start of 2011.
The pesition as regards secured loans is strenghtened by the new low rate of 7.9% introduced by Nemo Loans which is the lowest rate for a secured loan since 2008, and many people are availing themselves of this product to often use them as consolidation loans.
With mortgages,even for first time buyers, now available from a number of mortgage lenders at 90 pervent loan to valiue, there are more people now able to get their foot on the first rung of the property ladder than there has been for serveral years.
For a considerable time during the credit crunch, the maximum loan to value for a first time buyer mortgage was only 75% which meant that many people hoping to become homeowners were simply not in the situation to do so, as a deposit of 25 percent was well beyond what they could afford. This lead many to rent rather than to buy their home. It is hopefully the case that the more relaxed criteria of mortgage providers will have a welcome affect on the ailing housing market.
Champion Finance are also receiving more requests on the internet for homeowners wishing a remortgage, and on ocassions it is for a like for like remortgage which means for the same amount as their current mortgage, but they want to acheive a lower interest rate which is often possible as Champion Finance deals with the whole of the mortgage market, and can always obtain very good deals for their clients whether they want a secured loan, mortgage or remortgage.