Posted by: admin : Category: Secured loans have been gathering pace over the past quarter, their numbers have risen by £0.7billion in April this year, a growth of £0.1billion in the last six months. The Bank of England have recorded a numbers that show loan approvals for house purchases dropped over the same period, from 46,179 to 45,166 – the previous six month average. Remortgage approvals also fell from their previous six month average of 32,534 to 28,091.
Do you need a secured loan to help you and your circumstances.
Lending to individuals managed a rise of £1.2billion throughout April, which was level with the average increase over six months, but overall the number remained unchanged over the previous 12 months, at 0.8%. Gross lending, using homes as collateral to secure the loan, was at £11.2billion in April, with a slim-line drop of £0.1billion from £11.3billion. Repayments for the same period were at the same level, £11.2billion, a slight increase on the six month average of £11.0billion.
Head of lending at the Mortgage Advice Bureau, Brian Murphy, pointed out that the recent string of bank holidays, along with the Royal Wedding let to information for that period of time to be slightly out of sync with other national averages. Mr Murphy said that ‘The nation went on holiday’, meaning the overall drop in both remortgages and approvals for loans came as not great shock to the industry insiders. He also added that; ‘During May, activity bounced back and returned to the steady growth trajectory of February and March, albeit one that is naturally still at historically low levels.’
In addition, Mr Murphy went on to say that; ‘The ongoing drop in the number of remortgages reflects how people increasingly believe that an interest rate rise is unlikely in the short-term and that if one does come rates overall will remain very low for the foreseeable future.’
For more information on cheap secured loans visit www.securedloans.com. Are you self employed and require a self employed loan, we can help.
Citizens Bank Credit Card Payment
Software Developer Job Description