My Home Finance, supported by the Department for Work and Pensions, Royal Bank of Scotland and 26 housing associations, has opened 10 branches in the West Midlands as part of a trial to curb the need for loan sharks and doorstep lenders. If sucessful the scheme could be extended to other areas and ultimately nationwide.

Currently around 2.5 million people borrow from doorstep lenders with interest rates of 200% plus. Borrowing from loan sharks, which an estimated 200,000 further people do, can be at rates over 2,000%!

Loan rates for the new organisation will be at 29.9%. This compares with credit card rates, which are considered high, of around 17%. The rate is unlikely to put people off as the scheme is designed for people who would be unlikely or unable to borrow elsewhere.

If the scheme is successful and rolls out nationally the rate could increase to 49.9% to cover costs. This looks likely to be in April next year. 

My Home Finance is also offering help with opening a bank account and debt advice for those that need it. Loans will need to be applied for in person so will only be available to local residents.

The idea seems similar in many ways to that of a Credit Union, who would normally charge interest rates below 15%, serving the local community where the big banks have let people down, leading to an increase in high rate borrowing.

The historically low base rate of 0.5% has been with us for quite a while now. Speculation has been that this might have to increase towards the end of this year, however an article over the weekend floated the possibility of this rate being the new norm and not needing to rise until 2014.

For anyone with a mortgage that has reduced in line with the base rate reductions that could be incredibly good news. Not such good news for savers, but the majority of people reading this blog are borrowers or potential borrowers.

Whilst lower interest rates have largely been passed on to customers in the mortgage sector in the unsecured loan sector rates remain high. Lenders are still extremely risk averse, looking for reasons to turn down loans rather than approve them.

Even if you have a good credit history finance is not easy to get and for those with poor credit it has become near impossible, save for a few niche lenders. Bad credit unsecured loans do attract very high interest rates currently to reflect the increased risk taken by lenders.

When times are difficult and loans not easy to find the best advice is to shop around. Better still use a credit broker, like ourselves, to do the hard work for you. We have a number of lenders on our books who can offer unsecured credit and finance. This is the area we specialise in.

Getting a quote from us is as easy as completing our online enquiry form, sitting back with your feet up and waiting for us to call you with our best offer. It only takes a couple of minutes to enter your details.

We match the plan with the lowest interest rate, and therefore the lowest monthly repayments, to your individual circumstances. We don't waste any time and funds can be arranged quickly for those applicants that are approved. Don't forget, you only complete one form, it takes a couple of minutes and from this you have access to a number of quotes.

A busy day of updating all of our websites with some interesting content, news and technical improvements.

Our debt calculator at IVA Debt Problem has been amended to include debt management, as well as IVAs and debt consolidation loans. Debt management can be your best option to get out of debt problems if you have debts of less than £10,000 or less than 3 creditors. Over this and an IVA tends to be a better option as it enables you to write off a larger portion of your debt.

The car loans blog has been updated with fresh articles relating to car loans, cars and motorsport. We are broadening the website from a dedicated car loan provider website to a more general car website that also provides car loans and finance. We are also looking into providing a car loan comparison service in the near future allowing visitors to compare car loans online and select the best deal for their circumstances.

We have started a new Word Press blog which will be used to deliver up-to-the-minute news and articles relating to our websites. The Word Press platform is actually capable of providing a fully featured website. We will be exploring all of the available features as we get used to it.

The Yes Business Loans blog continues to grow. Business loans are an increasing part of our finance business as banks criteria for acceptance remains very tight making it difficult to get business finance from a high street lender. That's where a broker has the edge, dealing with multiple lenders including specialist business loan providers.

The unsecured loan side of our business continues to attract visitors and applications. We have a number of avenues for unsecured lending giving us a very good chance of success with our unsecured loan apps. Give us a try if you are looking for an unsecured loan.

People take out unsecured loans for a variety of purposes. At unsecuredcredit.co.uk we can help with every type of application from a broad spectrum of applicants. We can also offer specialist loans - for instance we have a website dedicated to secured and unsecured car loans.

Carloans.co.uk is aimed at anyone looking for finance to purchase a car or other vehicle. Any type of vehicle can be financed, not just cars but commercial vehicles, motorhomes etc. As well as information about loans the site is being expanded to include content on motorsport, car news and more with up-to-date information to be found in the new blog.

Every applicant is welcome - this includes homeowners, tenants and others. They can also offer car loans to applicants with bad credit problems so no matter what your circumstances give them a call or fill out their simple online form.

Why use carloans.co.uk? The car loans website has been around for 12 years now and is backed by Cavloans.com Ltd, a company with over 30 years history and experience in the finance sector. During this time they have seen every type of application and put in place arrangements with lenders to make it as easy as possible for applicants to get a car loan.

Getting a loan these days is not always easy, even if you have a good credit history, so if it is a car loan you are after visit the specialists and get expert help and advice. Quotes are free and without obligation.

When considering a personal loan there is a choice to be made between secured or unsecured loans. This choice is available only to homeowners, so if you are a tenant your only option is an unsecured loan. This is the first benefit of unsecured loans:

1. Unsecured loans are available to tenants

Choosing a secured loan means that the loan is tied to your property. This creates problems when you want to move house (the secured loan will need to be repayed) and also if you get into difficulties making repayments which could put your property at risk of repossession. This is the second benefit of an unsecured loan:

2. Unsecured loans are not tied to your property

Unsecured loans also have some drawbacks which you need to be aware of when making a decision about them.

3. Unsecured loans have a maximum repayment term of 7 years

For small unsecured loans this will not represent too much of a problem but if you are looking at borrowing tens of thousands of pounds, for a new extension for instance, the repayments over seven years can be huge. Secured loans can be taken over 25 years meaning that your repayments will be reduced considerably.

4. Unsecured loans usually mean higher rates

Because lenders do not have any security to back up the loan they tend to charge higher interest rates to reflect the increased risk they are taking. Even with interest base rates at their lowest rate of 0.5%, APRs on unsecured loans are incredibly high. This is a consequence of the banking crisis which also affects number 5:

5. Unsecured loans are harder to get

Lenders are being more cautious (overcautious?) about who they lend to following their past bad decisions meaning that even people with good credit histories are finding it hard to get an unsecured loan at a decent rate.

At Unsecured Credit we offer our customers a choice of secured or unsecured loans. Although the market is difficult at the moment there are signs of recovery, with more lenders getting involved, and this does mean your chances of getting a loan are increased.

Using a broker like ourselves, rather than your bank, means that you have access to a number of lenders in one go backed up by our expertise in the loan market. One phone call or completing our simple online enquiry form is all it takes to get a free, no obligation quote.

Despite historically low interest base rates the cost of unsecured loans has risen considerably. The average rate charged has increased by around 50% over the past 3 years. During the same period the Bank of England base rate has reduced from over 5% to just 0.5%.

A number of lenders have withdrawn from the market and there are a significantly reduced number of loan products available. Lenders have suffered from high arrears and default rates making their risk increase and pushing up their interest rate.

This shows the need for customers looking for unsecured loans to shop around and not to take up the first loan they are offered, particularly from their own bank or building society. Getting a range of quotes makes sense and will certainly save you money in the long run with reduced monthly repayments.

Before signing up for an unsecured loan with another provider give Unsecured Credit a chance to quote you a better monthly repayment. We cannot always beat your existing deal, but if we fail to offer you a cheaper alternative you have the peace of mind that your deal is a good one.

On the subject of interest rates, the OFT are cracking down on loan sharks and the exorbitant rates that they charge. Their new campaign targets households in areas where loan sharking is prevalent. Taking out a loan with an illegal money lender is never a sensible option and not only brings with it large bills for repayment but the possibility of violence and intimidation in the event of problems.

Taking out such a loan could lead to debt problems and often causes the household borrowing the money untold problems. Up to 165,000 households are thought to be in the grip of loan sharks currently.

If you are currently experiencing problems with loan sharks you can report them to the OFT by emailing reportaloanshark@stoploansharks.gov.uk, calling 0300 5552222 or texting "loan shark" and the details to 60003.

Whilst demand for unsecured loans remains popular, one area in which there has been a decline in requests is debt consolidation. It appears that many people facing debt problems are finding other solutions rather than taking out another loan.

The opportunity to write off up to 70% of debt with a debt management program or IVA is becoming more popular as the many consumers with debt problems seek to get back on track.

However debt consolidation loans still have their place and can be a very effective means of helping people with debt problems. If you have a number of debts on credit cards with high interest rates, for instance, it is very likely your monthly repayments are high. If you are only making the minimum monthly repayments specified by the credit card company it is going to take you an awfully long time to clear your debt, and it will be near impossible if you continue to use your card.

In these circumstances a debt consolidation loan could be the answer. By consolidating your debts with a long-term loan you are likely to be paying a much lower rate of interest. The monthly repayments on the loan will be substantially lower than you are currently paying to service your debt. It may even be possible to take out a loan for a higher figure, to cover your debts and give you a little extra money to spend.

Providing you are able to meet the monthly repayments your debt is effectively cleared and you can make a fresh start. It is very important to make sure you get your finances in order having cleared your debts. Identify where savings can be made and work out a budget that means your outgoings don't exceed your incomings.

At Unsecured Credit we can offer you an unsecured debt consolidation loan. Taking into account your circumstances we look at a variety of lenders offering unsecured loans and find the best deal.

We have access to a mixture of traditional lenders and non-status lenders meaning that we should be able to find you a deal no matter what your circumstances. Getting a quote is quick and easy, free of charge and without obligation. Just give us a call or complete our online enquiry form.

Getting an unsecured loan is getting harder. The major banks, such as RBS and Lloyds, are cutting their loan books to the tune of billions of pounds! This means that there is substantially less money available for lending and the majority of this, if not all, is being lent to people with completely clean credit histories and large salaries.

So what can you do if you need an unsecured loan but cannot get one from a high street bank? Try UnsecuredCredit.co.uk of course!

As well as mainstream lenders we have a number of lenders who will consider lending to people with credit problems and other difficult and non-standard circumstances. Our aim is to get ALL of our applicants an unsecured loan.

Of course the rate you pay is likely to be higher. Unfortunately the larger the perceived risk lenders take the more profit they expect in return. There is nothing we can do about this but we will always endeavour to get you the lowest rate possible in the current market.

When considering taking out an unsecured loan always make sure you are comfortable with the monthly repayments. Don't over commit yourselves because failing to meet repayments is only going to lead to further credit and debt problems.

Making an enquiry is simple. Just complete our online unsecured loan enquiry form with your details and we will look for the best loan deal for your circumstances. It doesn't take long for us to get you a quote and, if approved, the money can be available quickly.

We look forward to hearing from you.

Credit problems affect a large number of people in the UK. This figure is set to rise as the recession bites and more and more people are driven into credit and debt problems.

When lenders assess your suitability for a loan they will always want to know about your past credit history. If you have had problems in the past this could result in two outcomes:

1. You are refused a loan
2. The loan is granted at a much higher rate of interest or with other strings attached

Approaching a mainstream lender, such as a high street bank, is usually a bad idea in these circumstances as they have little flexibility and are unlikely to consider any circumstances outside of their narrow underwriting criteria.

With our bad credit unsecured loans we have much greater scope to help you as we deal with many different loan companies, some of which are specialist in helping people with credit problems.

Plus we have many years experience of assisting people just like you - whatever your circumstances or problem it is highly likely we have seen it all before. We do not make judgements about people, we just want to get them unsecured credit wherever possible.

Applying is easy - give us a call or complete our online unsecured loans enquiry form. There is no obligation to proceed if we cannot offer you a good deal. We look forward to hearing from you and to helping you.

If your problems are more debt related, and you are looking at options to get out of debt, please visit our associated site, IVA Debt Problem to see which course of action is best for you.

Unsecured small business finance plans are great for business who need urgent funding, this product has a 90% approval rate. Yes Business Loans offer this fast service to shops, restaurants and bars all over the UK. Most customers have ran out of patience with their bank and are looking for other ways to finance their business. Customers can borrow from £3,000 to £150,000 and can use the money for any purpose.  

We have now added a blog to the Unsecured Loans website.

This will be updated regularly with news from the world of unsecured loans and finance. New products and services we can offer you will be listed here as and when they become available, as will more information about the company.

It has been hard for many people to obtain a loan or mortgage in the past year with lenders tightening up their lending criteria. However there are signs that this may be changing slowly and there are more deals to be had now than for a long time.

We search the market for you to save you time and effort and our inside knowledge of all of the latest deals and rates enable us to get you unsecured loans with the lowest rates available.

It's easy to apply, simply complete our unsecured loan enquiry form for a free quote based on your current circumstances.