As you will have seen in all elements of the media, the current credit crunch in America has spread to the UK. This means that the high street lenders have tightened their criteria and made it more difficult for you to get a secured loan, especially if you have a poor credit rating.

This credit crunch means that more people are being declined for both credit cards and unsecured loans by the high street lenders. If this happens to you the the best option available to you may be to try a specialist broker such as Newleaf Finance. If you are a homeowner they may be able to help you obtain either a secured loan or remortgage on your property. They may even be able to help you if you have bad / poor credit rating or have CCJ’s.

Taking a secured loan or remortgaging your home may mean that you may decrease your monthly outgoings and therefore have more disposable income on a monthly basis.