The Association of Mortgage Intermediaries (AMI) has voiced its support for Conservative plans to raise the current stamp duty threshold to £250,000.

Robert Sinclair, AMI Director, said: “The current Stamp Duty regime distorts the market and prevents first time buyers from getting a foot on the property ladder.”

“The Stamp Duty holiday last year was a welcome piece of common sense from Government. And the Conservative plans to raise the Stamp Duty threshold to £250,000 would provide a welcome boost to many first-time-buyers and also provide assistance to first time movers in many parts of the country. This would do much to support the housing market.”

”However, what we urgently need is a more fundamental review of this antiquated tax.”

This could also have a general knock-on effect on other forms of finance being more readily available such as secured loans, business loans and bridging loans.

Posted 03/02/2010 09:04:04

Boosting a home's security by using a secured loan to cover the costs of new materials and equipment could be a wise move for Britons to make.

Indeed, home security is as important as ever, according to a spokesperson for the Association of British Insurers (ABI).

Buying a good quality intruder alarm and UPVC windows and doors are just some of the steps that he suggests homeowners take, although a secured loan could pay for such improvements.

"The pre-requisite that insurers always look for are good quality door locks, reaching British standard 3621 as a bare minimum," he advises.

And thieves may currently be targeting properties in the hope of finding expensive gifts received for Christmas, the ABI spokesperson adds.

Furthermore, individuals may also want to consider getting double glazing fitted, after the Daily Mail suggested that this could save households £140 a year off their energy bills.

But for consumers cash-strapped because of the festivities, secured loans could prove to be an easy cash injection for their bank accounts to receive.

Posted 31/01/2010 15:11:47

Reports this week have pointed towards a possible return to the market for Link Loans, the secured loan lender that was the sister firm to short term bridging loan lender, Link Lending, which went into administration last year.

It is thought that the Watford-based secured loan lending company may have a new range of secured loan deals in the offing, with Link Loans chairman, David Johnson, allegedly gaining a significant amount of secured loan funding for the New Year.

Although no one at the company could be contacted to confirm the rumours, the secured loan lender’s comeback could mean an interesting 2010 for the secured loans sector, and bring some much needed competition back to the secured loan market.

The collapse of Link Lending last October caused shock waves in the industry. Just weeks after the departure of managing director, John Maclean, negotiations to renew the bridging lender’s funding with Barclays bank fell through and administrators PricewaterhouseCoopers were appointed to wind down the business.

Posted 18/01/2010 19:46:30

Promise Solutions, the Secured Loan and Debt Solution master broker has announced secured loan enquiries from mortgage brokers and IFA's have more than doubled compared with the same period last.

Steve Walker, Group Managing Director said:

Secured loans are definitely in the ascendancy and intermediaries are engaging in the secured loans sector more than ever before. At Promise we had a comparatively strong December and January has started in the same way with both months secured loans enquiry levels more than doubling those of a year ago.

It would be easy to distort the figures if we had not been active in the secured loans sector this time last year – after all, doubling a small number is easy. However our secured loan business model has remained fairly constant so these figures really reflect what is going on in the secured loan market. And brokers have got back to business sooner.

By January the 6th we had returned to Pre Christmas business levels and Monday 11th was the busiest day for two months. Further good news is that placing secured loans should get even easier as two more secured loan lenders are due to launch in the next four weeks, one of which is exclusive to Promise.

The phones are red hot with secured loan enquiries from brokers wishing to learn more, a notable number of them complaining that their Networks do not provide them with a suitable outlet or education regarding secured loans.

This year two networks have already confirmed they wish to immediately launch a branded proposition through Promise. However, it seems some networks are not reacting to their members as many of their brokers are striking up relationships with us direct.

Posted 13/01/2010 13:57:01

Secured loans and remortgages are both only granted to homeowners as they are both forms of homeowner loans which must be secured against a residential property.

This can normally be a first residence or a holiday home, although there are mortgage and secured loan lenders who are unwilling to accept a holiday home as security.

There is basically no difference between secured loans and remortgages, as both have the same multitude of uses.

If you have a notion to buy an expensive car or even to indulge yourself in treating yourself to the luxury of a boat using a remortgage or secured loan to do this can be the ideal way, as you can spread your payments from a five to a twenty five year repayment period.

Funding home improvements with a secured loan or a remortgage can be the most cost effective way as repayments can be made from a five to a twenty five year period thus making the home improvements affordable.

The great thing about remortgages and secured loans when carrying out home improvements is that you will have cash available to negotiate a better deal.

Another popular reason for taking out remortgages and secured loans is to clear off debts on personal loans, credit cards, etc.This low interest route will grant enormous savings and make life simpler.

As is obvious both secured loans and remortgages have a multitude of uses.

Which you choose depends on what you prefer yourself.

If you require information, the best way forward is to contact a secured loan and remortgage broker who can provide you with all the information required for you to make the choice that is right for you.

The best advice always when it is a matter of an enormous financial commitment is to obtain the services of an expert in this field which is a remortgage or secured loan broker.

Learn more about secured loans then visit Choose Loans website to find out about our vast range of secured loans.

Posted 09/01/2010 15:22:47

A secured loan, which is a loan only available to homeowners as it must be secured on property, is a good way for a homeowner to raise funds for a number of purposes.

The interest rates for a secured loan currently commence at about 9% for employed applicants with a good credit rating.

However even for applicants with poor payment profiles a secured loan is still possible but the interest rate will be considerably higher.

For the self employed the position, as regards a secured loan, is very different now than it was before the credit crunch.

In the past self employed borrowers could self declare their own earnings without any further proof being required.

They had simply to write on a letter head that they certified that their net profit was whatever, sign it and that sufficed.

Now an accountant's letter at least is a requisite and sometimes the secured loan lender will ask for full accounts.

As such homeowners, whether employed or self employed, who fit the criteria really should consider a secured loan when they want to borrow money.

Apart from the interest rates being good, secured loans can be repaid over anything from a five year to a twenty five year period making the repayments taylor made to suit individual needs.

Secured loans can be used for almost any legitimate purpose, but many people do not appear to realize this.

Adverts for secured loans often made it appear that these home loans were to be used for debt consolidation, and little else.

Secured loans are certainly a good way to consolidate outgoings on credit cards, etc, saving money and simplifying finances, but they have many more uses than this.

A secured loan can be used to buy a car, a caravan, a motor home, a boat, etc, etc.

It can also be used to carry out home improvements, and with cash in hand there are savings to be made by funding improvements in this way.

A homeowner loan can be the method of funding a wedding, paying for the exotic holiday of your dreams, or even providing your children with a private education to give them the best education available.

If your dream is to own a second home in the sun this can also be paid for with a homeowner loan.

Some secured loan lenders are not prepared to grant loans for second home purchase, and so it is always best to check before applying that the purpose of the secured loan is not against that particular lenders rules.

Paying for a holiday home in the UK or abroad is simple when a loan of this sort is used to fund it.

It eliminates the need for a deposit as would be required if arranging a mortgage either from a UK or a foreign bank.

With so many property bargains in the market at the moment there will never be a better opportunity to buy a second home whatever country you wish to buy in.

There are many Brits selling up in the Spanish Costas and if Spain is your country of choice this is a good time to realize your dream.

As is obvious the better things in life are available to those who release some equity in their property to make life more enjoyable.

Posted 28/12/2009 19:18:18

Consumer Minister reveals plans to ban bills of sale lending.

The Consumer Minister Kevin Brennan has unveiled plans to ban the use of what he claims to be an outdated law used to sell high-cost loans.

Bills of sale are typically used for ‘logbook’ loans which are secured against the value of the consumer’s car.

Brennan said: "These bills of sale are archaic and allow vulnerable peoples’ goods to be seized without a court order. They were developed in the days of Charles Dickens and don’t meet 21st century consumer standards. They can encourage people to slip even further into debt rather than taking control of their finances.

"We must consider all the options but it seems they don’t fit easily into a modern consumer regime which should allow honest businesses to thrive and offer adequate protection for consumers."

The number of registered bills of sale has risen over the years with nearly 40,000 being made between April 2008 and March 2009. This equates to around £30 million in loans to consumers.

The Office of Fair Trading reports that more than 1,000 consumers have complained about problems with these loans and claims of losses total £1.47 million in the last four years.

Complaints relate to the lack of protections available to people if they fall into arrears, unfair collection practices, the complex and confusing nature of the language used in the agreements and the excessively high cost of the loans.

If you require a homeowner loan, car finance loan, debt consolidation loan or a home improvement loan in the form of a secured loan or personal unsecured loan, please give us a call at Secured Loan Now on 0845 862 0524 or click Apply Now and complete our simple 30 second enquiry form and one of our friendly loan advisers at Choose Loans will give you a call to discuss your loan requirements.

Secured Loan Now, Business Loan Now, Bridging Loan Now, Debt Rescue Now and Choose Loans are all trading names of M60 Mortgages Ltd and specialise in arranging secured loans, personal unsecured loans, homeowner loans, home improvement loans, car finance loans, debt consolidation loans, residential and commercial bridging loans, commercial mortgages and business finance, and buy to let mortgages and overseas mortgages using whole of market high street banks and specialist finance lenders.

We also specialise in arranging debt management plans and IVAs (individual voluntary arrangements).

Posted 26/12/2009 12:38:55

Bridging loan basics

Bridging loan finance meets the needs of many individuals and businesses today. They are rapidly loaned to qualified applicants and then usually repaid within one to three months, though many are offered for terms up to a year.

Short-term bridging loans often come into play when a business has a cash flow problem or sees the need to make an investment but lacks the resources to do so. There may be a contract that will be honored in due time and payment made to the business but the money is needed now.

If the business can ensure repayment, a bank or other financial lending institution may choose to issue a bridging loan for the business’ capital investment, venture capital, stock acquisition, production, or a host of other needs. The short term bridging loan is just that: a means of moving over temporary financial needs to help the business reach the other side.

A bridging loan is also popular in the housing market. Homeowners who are selling a property can utilize a short-term bridging loan to pay for a new home while the old one is still on the market.

Living expenses can be covered while a sale is pending. The bridging loan can also be used for unexpected repairs that a buyer of the old home is requiring. Once the old home is sold the bridging loan will be paid in full.

Urgent needs for money sometimes occur.

Financial setbacks can happen to people for a variety of reasons and a short-term bridging loan can help smooth out the financial needs until the individual is back on his or her feet.

This type of finance can be extremely helpful in the short-term but it comes with a price. A bridging loan can carry high interest rates and sufficient collateral such as an automobile, home, business property, or other valuable asset will have to be put on the line. If the bridging loan isn’t repaid in the specified amount of time the collateral is subject to seizure and the borrower will be in worse financial shape than before.

Bridging loans are effective but only if repayment can be made.

If you require finance in the form of a Commercial Mortgage, Business Loan, Residential Bridging Loan or Commercial Bridging Loan, Secured Loan or Personal Unsecured Loan, please give us a call at Choose Loans on 0845 862 0524 or click Apply Now and complete our simple 30 second enquiry form and one of our experienced loan advisers will call you back to discuss your loan requirements.

Posted 13/12/2009 18:27:12

What are Secured Loans?

A Secured Loan is a loan which uses some sort of asset as a security for the loan. The most common type of security is a house, usually the borrower's home, although other items could be used, for example a car ( this would be the security used in a car finance agreement).

The secured loan is secured against the value in the property, above the level of any outstanding mortgage. The phrase "Secured Loans" may lead the borrower to believe that there is some level of security for themselves. This is not the case however. The security is actually for the secured loan lender, who is able to claim the outstanding balance of the secured loan from the secured property, should the borrower default on the repayments. The secured loan lender has the legal right to force the sale of the property if necessary to reclaim the balance of the secured loan.

What are the advantages of Secured Loans?

As the secured loan is secured on property, the total risk presented to the secured loan lender is reduced and therefore the rate of a secured loan tends to be lower than that of an unsecured loan.

The term of the secured loan is also able to be spread over a longer period of time, which has the advantage of reducing the monthly repayments. If a borrower has a poor credit rating, or has had financial problems in the past, they will be more likely to be accepted on a secured loan for the reasons already stated.

What are the disadvantages of Secured Loans?

As the secured loan is secured against the borrowers property, it is likely to take longer to arrange than an unsecured loan and could also involve additional costs, such as valuation and legal fees. If the secured loan is taken over a longer term of years, although the monthly repayments will be lower, the overall cost of the secured loan could be significantly greater than one taken out over a shorter period, as interest on the secured loan will be payable for longer.

The biggest risk with secured loans is that due to the fact that it is secured on the borrower's home, the secured loan lender has the right to force the sale of the property to reclaim its losses in the event of the borrower defaulting and the borrower should be aware that: your home could be at risk if you do not keep up repayments on your mortgage or other loans secured on it.

Are secured loans common in the UK?

Over the last few years' secured loans have become an extremely popular way for UK borrowers to attain credit. Analysts believe that by 2013 the UK secured loans market will be worth approximately £11 billion pounds. The primary factors used to explain this growth, which have already been touched upon within this guide include: -

• The ability to borrow larger amounts, over longer periods of time.

• The ability to source a competitively priced loan, regardless of credit history.

However there is one other factor, which also plays a vital part in the growth of this particular loan type... the housing market. The vast majority of applicants realise that secured loans provide the ideal vehicle to release equity from their home, especially if market conditions have been favourable. However, if economic factors were to have an adverse effect on house prices, and equity levels were to decrease as a result, it would be highly likely that the secured loans market would slow if not even decline.

Posted 13/12/2009 16:49:39

The Bank of England has held the base rate at 0.5%, with no extension to the quantitative easing programme.

The Monetary Policy Committee voted to continue with its programme of asset purchases totalling £200bn financed by the issuance of central bank reserves.

The MPC says that it expects that the programme will take another two months to complete and the scale of the programme will be kept under review.

Posted 10/12/2009 14:01:18