JULY 2006

LOAN PROVIDERS KEEP BORROWERS WAITING (1 STOP FINANCE SHOP UK)

1 Stop Finance Shop UK

July 17, 2006

Loan providers are making life difficult for those seeking a debt consolidation loan or other form of borrowing by taking days to make a decision, moneysupermarket.com reports.

According to new figures, 35 per cent of people applying for a loan were still waiting for a decision one way or the other days later.

Further, around 40 per cent of these loan-seekers were declined within 48 hours, meaning that they would find it harder to get a loan with another provider.

Moneysupermarket.com's Stuart Glendinning explained: "Most customers will be shocked to discover how high the immediate decline rate is. Unsurprisingly the vast majority of people are applying for products with the lowest headline APRs and the greatest proportion are destined for immediate decline."

This harms their chances of borrowing from another lender, because they will be left with a so-called 'footprint' on their credit record.

1stopfinanceshopuk.biz providing you with breaking debt consolidation loans news

BRITONS GETTING READY FOR EXPECTED FINANCIAL CHANGES (24-7PRESSRELEASE.COM)

24-7PressRelease.com (press release) - USA

July 16, 2006

Britons getting ready for expected financial changes According to some industry experts, Britons might be changing their behaviour because of increasing debt and expected increase in interest rates. Many financial experts have been expecting a bit increase in the interest rates.

/24-7PressRelease/ - LONDON, UK, July 16, 2006 - Therefore, the Britons are getting ready for the situation. However, the interest rates are steady at 4.5%, but the Britons are bit anxious due to different opinions expressed by different experts.

Some minor changes in the interest rates or increase in interest rates could bring a change in the behaviour of a common Briton. Various market experts think that interest rates of various loans such as home improvement loan, debt consolidation loan, education loan etc. can be increased in the coming time. Therefore, the Britons are getting ready and taking precautions to face any situation. These speculations have brought a sort of awareness among the Britons, as they have become a lot more choosy and trying to clean up and build their balance sheets.

John Butler, chief UK economist at HSBC, quoted, "I don't think it is a done deal that we will see a rate rise," he further added, "It is not what rates do - but the expectation of what they do".

According to some experts, apparently such speculations are doing fine for the consumers as consumers are paying more attention to rebuild their balance sheets. However, Bank of England's monetary policy committee has already voted that the interest rates would stay hold at 4.5%.

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