Expert Loan News

21 February 2008

Cheaper Homeowner Loan Deals on the Horizon!

Following the recent Bank of England interest rate falls in response to the slow down in the economy, it is widely expected that secured loan lending rates will fall at some point during the next 4 months although there is some controversy about this.

Before the credit crunch, most of the banks and other lenders appeared to instantly respond to the Bank of England changing interest rates, not any more! Why? Quite simply global banking institutions are not lending to each other as they did in the past, therefore, borrowing money comes at a premium.

For those looking to secure loans on their assets, the earliest predictions for an economic upturn are not likely until the last quarter of this year, so it is widely expected that further interest rate cuts prevail at home in the UK and in America, with the result that some lenders may respond with lower homeowner loan rates to try and attract customers and increasing their lending books.