Caboodle Financial Services

Uk Secured loan lending reached a four-year high in March with over £36 million of lending achieved according to a recent Secured Loan Index. The first 3 months of 2013 saw the best quarter of lending since Q4 of 2009, with over £100 million lent.

The sale of second charge mortgages in the UK reached £28 million in February 2013, a 17 per cent increase on the same month in 2012, according to the Finance and Leasing Association.

The recent proposals for the MMR have effectively granted a stay of execution to interest-only mortgages. Although the rules applying to interest-only mortgages have been tightened there is still the issue of how to clear up the mess left behind.

The UK secured loans market received a huge shot in the arm recently when two of the markets’ leading lenders introduced new products which allow borrowers to lend up to 90% and 95% of the value of their property respectively.