spike's Blog

Consumers planning to apply for secured loans will find that they are increasingly difficult to come by, it has been revealed.

The Bank of England's quarterly Credit Conditions Survey asks lenders about their expectations for the coming months as well as their habits over the previous three.

And it has shown that the availability of secured loans was reduced by more than was expected in the third quarter of the year, with lenders predicting further declines to come.

But in the same period demand was also found to have decreased sharply, suggesting that less people are seeking loans in order to take out mortgages.

Unsecured loans have also dipped in availability - although these have dropped in line with what was predicted - and lenders expect this to continue towards the end of 2008.

The news followed yesterday's announcement by Nationwide that the average house price fell by 1.7 per cent last month, now standing at £161,797.

However, there was good news today as Six central banks, including the Bank of England, have cut interest rates by half a percentage point in an effort to steady the faltering global economy. No decision on UK rates had been expected until Thursday - and the move puts the interest rate at 4.5% from 5%.

The last time the Bank of England cut rates in a special meeting was on 18 September 2001 - when rates came down from 5% to 4.75%.

In the UK, some mortgage lenders also immediately passed on the rate cut to borrowers - trimming their variable rates.

European and US stock markets initially reacted well to the news but later turned lower as investors were unconvinced that the rate cuts would really solve the financial crisis.

If you are trying to find a secured loan, it is worth trying a reputable loan broker as they will have access to most loan products available on the market.

Flybe, Europe’s largest and most successful regional airline, is delighted to have received the ‘Special Merit for Commitment to the Environment’ award at the influential Budgie Awards during a ceremony held last night at the World Low Cost and Regional Airline Congress in London.

 The Budgie Awards recognise the leaders, innovators, creative talents and pioneers in the global low cost airlines industry, its mission being to identify and reward those individuals, teams and airlines who have demonstrated an unparalleled ability to succeed.

Mike Rutter, Flybe’s Chief Commercial Officer says the airline is extremely proud to have received such prestigious recognition for being a leading industry innovator.

“Flybe has become known as being a leader rather than follower in the global aviation sector and this award is proof of just how far we have come.  Our commitment and $2bn investment in a dual type, state-of-the-art environmentally sensitive fleet, and more especially our launch of the world’s first and only ecolabel for the aviation industry last year, have both also made a significant contribution towards the record financial results we announced last week and to our strong growth in the first quarter of this financial year.”

By the end of 2009, Flybe will have one of the youngest and most environmentally fleets in the world comprising Embraer 195 jet and Bombardier Q400 turboprop aircraft both of which attract impressive ecolabel ratings.

Under the ecolabel scheme, which was subject to an assurance process by international consultancy firm Deloitte, Flybe passengers are provided at the time of booking via the Internet with a detailed but user-friendly breakdown of the fuel consumption, carbon emissions and noise patterns of the aircraft type to be used on their journey. The ecolabel is not intended to compare aviation with any other form of transport, rather it provides transparent information to a customer who has made the decision to fly.

Concludes Mr Rutter: “Flybe would again urge other airlines to adopt a responsible attitude to climate change and accept that human activity, including aviation, is having an impact on climate change. Political opinion formers are also waking up to the potential impact of the ecolabel scheme. In January 2008, the influential House of Commons Treasury Select Committee suggested other airlines should also adopt a system of eco-labelling that would at least provide customers with the environmental information they need to make a choice between providers. To date, there has been a deafening silence from our industry colleagues. We again throw down the gauntlet and hope that the global recognition we’ve just received will help spur them into action.”

f you are visiting Guernsey on business and looking for a luxury hotel in Guernsey, check out La Fregate Hotel, the latest four star hotel in Guernsey. 

Cheap personal loans may well be a useful asset for prospective car owners trying to strike a favourable price in their attempt to purchase a car.

This was the advice given by Alliance & Leicester which reports that obtaining a cheap loan can be a effective bargaining tool for motorists looking for a brand new set of wheels. By having the cash ready in hand, which a loan allows you to do, it was pointed out that people might be able to haggle with care salesemen quickly and effectively as they are now able in a position to make an instant purchase and drive the automobile off the forecourt on the same day. This could also mean that not only do people negotiate a significant saving on the price of the car but the financial services firm said it may also assist to land ‘extras’ for their car such as cruise control, an mp3 player or extended warranty.

In fact, not only would a cheap car loan assist drivers to purchase the vehicle of their dreams, the additional financial assistance which is provided by borrowing in this way may also assist people to keep tabs on other constraints on their spending.

Mark Boyle, personal loans manager for Alliance & Leicester, commented: "Having the money to hand means motorists can concentrate on buying at the best price, without being enticed into taking out pricey vehicle dealer finance that can see them lumbered with double-digit interest rates. It might also swing things in the buyer’s favour when thrashing out a deal for part-exchanging an old motor. Getting finance arranged before going shopping for cars is essential if you want to hold the balance of power in negotiating a good deal."

He went on to assert that as a motor vehicle is probably one of the most expensive items they will purchase, it is good practice for buyers to carry out some "research before heading to the showroom and be prepared to haggle when you are there. It could save you hundreds of pounds or more". The personal loans manager additionally reminded that those on the lookout for a vehicle may well be possibly going to find themselves in "a battle of wills with the salesman", as the car salesman will be wanting to sell at the highest price, whilst it is necessary for the buyer "to side-step the patter and make sure they do not pay over the odds".

Additionally the financial services firm urged those looking for a brand new vehicle to make sure that they keep an eye open for any hidden costs - such as number plates, administrative costs and delivery charges - which they may have to meet. Taking the car for a test drive was also recommended to ensure that there are no problems with the car before signing on the dotted line.

Those wanting monetary help for financing a new car might want to consider getting some car finance allowing them to bargain with car salesmen on getting a great deal on their dream car. Additionally, in obtaining a cheap loans, buyers may find that they are left with easily affordable repayments to make. This could be particularly helpful for women after a recent Experian study showed that 40 per cent of females consider the initial spend required is a major consideration when buying a new vehicle.

For more financial news visit Loan Arrangers financial news site.

An ever increasing number of People are looking to make improvements to their property.

Such is the assertion of Lloyds TSB personal loans, which reveals that a rising proportion of people are choosing to take their homes off the market as a result of recent declines in the economic climate. In a survey of estate agents, 55 per cent of respondents pointed to a rise in those removing their property from the open market in order to make improvements to it.

It was also revealed 59 per cent of people who had been looking to move had placed such plans on the backburner as a result of concerns about falls in the value of their property. of such britons, about half are choosing to stay to revamp their home. meanwhile, a 19 per cent annual increase in loan applications for the purposes of home improvements had been noted.

For those looking for an effective way in which to carry out renovation work to their property, obtaining one of the many cheap home improvement loans available advisable.

The study also showed that a brand new kitchen is the feature of a home which has the most appeal to potential property buyers, with around four-fifths (79 per cent) of those that took part in the study highlighted to be requiring such a room. Over half of buyers that were questioned reported that a brand new bathroom appeals to them when looking to purchase a property, with a quarter wanting to move into a recently decorated property. However, 29 per cent of people questioned cited a loft conversion as an attractive feature, with 47 per cent claiming that an extension is something which they look out for when searching for a property.

David Wishart, director of personal loans at Lloyds TSB, said: "In recent months we have seen a significant increase in home improvement personal loan requests. For the last decade homeowners have been able to sit back and rely on rising property prices to increase the equity in their home but sadly this is no longer possible. If you want to trade up and avoid substantially increasing your mortgage, you’ll need to add value to the house you’re currently in. Whether your motivation is a quick sale, adding long-term value or accommodating changing lifestyle needs, it’s vital you consider the financial investment you’re about to make."

He added that cheap loans are a 'hassle-free, affordable way' for homeowners to spread the cost of funding a home improvement project.

Meanwhile, Phil Spencer, property finder and television presenter, claimed that the downturn in the housing market means any plans to improve their homes should be drawn up meticulously to "ensure maximum return on investment".

Those requiring a practical way to refurbish a bathroom, add a kitchen extension or simply give their property a facelift with a lick of paint might wish to consider taking out a home improvement loan. In using this kind of home loan it is quite possible that borrowers can not just afford the cost of materials required but additionally hire quality tradesmen to carry out such work. This may also be effective for those looking to repair damage to their house after recent research by Tescocompare identified that instances of broken windows and other domestic incidents could increase this summer while youngsters are on school holidays.

Loan Arrangers providing you with breaking personal finance news.