Menu
100% loan Approval Rates
Recently the UK has been facing a severe financial crisis due to various factors like the Brexit deal, unresolved student loans and corporate loans that are still pending. Most of the financial analysts are under the fear that the UK might face another recession that happened previously in 2008. The analyst stated that there might be a rise in the student loan interest in the next few years along with the increase in every other interest to prevent the financial condition of the country going downwards. Even though most of the banks have added some extra rules and providing loans only for the people with high credits and taking steps to ensure that the interests are paid in proper time, most of the people with poor credits are still getting various types of loan from outside direct lenders. The direct loan lenders provide an advanced form of loans like text loans with no credit check, for people without any form of security. Nowadays people prefer getting these loans rather than the bank loans because they are highly reliable and despite the fact that they have a bit of a high-interest rate these loans are instant and can be obtained easily within hours. Some common financial problems One of the major financial problems available in the country is the Brexit deal. The UK has decided to move away from the European Trade union cancelling all kinds of ties with the union. Even though this moving away from the trade union will allow the UK to act individually and have the freedom to make their own trade decisions, it would also be considerably difficult for them since all the imports and exports have to be subjected to custom checking causing a serious delay in the process. Also, all the trade deals that the UK has been undergoing till now needs to be reinvented and new deals have to be signed. These processes will increase the financial problems existing in the country and until all the issues are being resolved, it would be difficult for the people to maintain their lifestyle. This cancellation of the deal will cause a delay in various important products like medicines, food and health supplies. Along with this UK is also facing several internal crises like non-return student loans and corporate loans. Most of the students who took the loan have not repaid their loan thus resulting in a big hole in the financial income of the country. Along with this, various corporate companies have taken a larger amount of loans and these loans are also being unpaid. This rise in unpaid loans has caused a severe breakdown in the financial condition of the country and the rise of small loans has been on the boost. The recession of 2008 One of the major reasons for the occurrence of the recession in 2008 was due to a credit crunch. All of these banks had no amount for lending loans due to unpaid interests and unpaid original loan amount. Due to this increased unpaid amount, the banks were unable to lend new loans like the small text loans for the people due to the financial insufficiency. The current condition of the country is also moving towards the credit crunch that happened in 2008 and also there is an increasing possibility that the banks will increase their interest rate in both student and corporate loans to get their money back. The increase in interest will cause more difficulty on the people, and the current existing Brexit deal it is not helping these financial conditions. Current condition Despite these financial problems, the UK banks are still lending a lot amount of money to the people who are having a perfect credit score. Last January recorded that after 2017 a huge amount of loan has been lent to the people. Most of the people are against the Brexit deal and many ministers are trying to stop the Brexit deal from happening. Despite all these conditions people are still getting their text loans through direct lenders. The government is also taking steps to control the current financial conditions. Read Also:-What are the Possible Alternatives of Loans with No Credit ?
0 Comments
Leave a Reply. |
AuthorLondon Loan Bank Archives
March 2019
Categories |