Traditional lenders are failing their loyal customers as the economy continues through a difficult period. It was reported recently that an individual with a good credit history, a home worth £1 million and a steady income had been declined the advertised rate on a credit card. This is down to the stringent criteria that banks are subjecting to consumers. (This is Money)
This situation looks like it will continue due the troubled austerity measures that are set to last another 10 years. Britain’s national debt means the deficit is unlikely to be cleared before 2020.
However, in a sudden rush to seek other financial methods, many people are tuning to no credit check loans, such as logbook loans to assist them in this tough financial time. The benefits of this method are quickly becoming popular among consumers.
A logbook loan is loan type that is secured against your car. Those with bad credit and CCJs are welcome to apply due to the criteria being flexible. Logbook loans are also up 90% cheaper than payday loans, meaning a financially more viable option for individuals.
Instant decisions are made for consumers applications. The requirements set are; ownership of the car and that it is free of finance. So don’t let the current economy make matters difficult. Seek a different method to assist yourself financially.