Money Markets Stabilizing But Loans Still Refused Say Leading Provider Loan Purchase

With many high street lenders relaxing their lending rules over the past few weeks, and a marked increase in those seeking to buy new properties, you could be forgiven for thinking that the credit crunch was on its way out.  Despite this, those who are seeking short-term loans are still left to pay the price of the current economic crisis, being labelled with bad credit ratings and refused finance.

Although firms like Barclays and Abbey national reported earlier this week that they were setting the wheels in motion to increase their overall loan books throughout 2009, offering hope to many, those previously stung by the system, suffering with CCJ’s and faced with bankruptcy are still being refused credit when it really counts.

Daryl Self, Managing director at Loan Purchase, the Dorset based firm who offer short-term loans with a difference, said, “The effects of banks initially tightening their lending criteria is still having a knock on effect on the Great British public and many are finding that they are unable to get themselves out of a black hole.  Even honest hardworking citizens have been faced with extreme situations, through no fault of their own and have been made redundant with a mortgage to pay and family to support.  Benefits do not cut the mustard when you have debts to pay and that’s where Loan Purchase comes in.” 

A revolution in lending, Loan Purchase offers clients the chance to translate their possessions into cash – and fast. Allowing customers to raise money against a much loved item with the option to buy it back after an agreed amount of time, which can be extended by up to six times.  It is hoped that this revolution in lending will give hope and relief to the increasing number of people who have been turned away from high street lenders.

Mr Self added, “We pride ourselves in being able to offer the client with a unique experience when they come to us for a guaranteed loan. We have the capabilities here to take the larger items like supercars, boats and yachts as well as the smaller items- offering something for everyone!.”