Friday, April 04, 2008

A new loan website that provides both loans and mortgages in the UK for consumers with adverse or poor credit rating has been launched.

The website http://www.adsmortgages-loans.co.uk was launched by ADS Property and Finance, the mortgage broker, based in London, which provides secured and unsecured loans for any purpose.

A press statement said the loans on offer range from those for home improvement, consolidation, to car finance etc.

The statement added that the new loan services that include secured loans, unsecured loans and car finance demonstrate their commitment to proving wider services to consumers in the UK.

In another development a secured loan network and distribution firm has announced the introduction of enhancements to its secured loans portal.

The company, UNIFi Partners said it introduced the changes against the backdrop of revision of the Consumer Credit Act (CCA) recently.

It added that brokers who use the portal would find a link to a lender lending page with summarised guides to help speed up the selection process. This, it said, will help when a case does not fit the broker’s current lending panel.

Managing Director of the company, Patrick Bamford said the portal lists those lenders who are still actively in the marketplace, adding that it breaks down the essentials of their criteria to enable easy understanding of client suitability and product availability.

“This information will allow brokers to see if the case is likely to fit with lenders outside of their normal panel,” he said.

The sub-prime loans problem is largely believed to have contributed to the current financial crisis, with many consumers failing to keep up with repayments on loans, credit card or mortgages.

Source: http://www.onlyfinance.com/Loans-News/12752126-Consumers-With-Poor-
Credit-Get-New-Loan-Service.aspx