Wherever we go these days we’re bombarded with offers of credit, whether loans, credit cards, remortgages – there seems to be no end to the number of companies asking us to consider applying for finance through them. It’s true that gaining credit is easier than ever before, a fact borne out by the record levels of personal debt we see revealed in survey after survey.
Whether or not you think borrowing is a good idea, a necessary evil, or to be avoided at all costs, in the modern world it’s increasingly taken for granted and many feel that easy access to credit is almost a right.
The problem for many people is that getting approved for a loan is not as easy as it might at first appear. We’ve all heard about the problems encountered by people who have a poor credit rating for whatever reason, but there are millions of other people with no bad credit history on their files who nonetheless find it more difficult to arrange a loan.
Many of the loans advertised on TV, in the press and online are aimed solely at homeowners. These kind of loans are known as secured loans and are fairly easy to be approved for as the applicant agrees to...