November 8th, 2009 
Lisa Certo For years before the recession loans of all kinds were available, and in fact loan lenders were advancing loans as if the product was going out of fashion.
Homeowners always found it easier to obtain loans than did tenants, although during these years even non homeowners could get loans.
There has always been companies such as Provident who grant loans to both tenants and homeowners but these loans are for small amounts and their interest rates are high.
There was a loan lender, Welcome Finance who not only arranged secured loans for homeowners, but also granted loans to tenants. This meant naturally that the loan was unsecured and as they also accepted a certain amount of bad status these loans came with a pretty hefty interest rate, but they were useful none the less. Welcome fell victim to the credit crunch and has ceased trading, leaving tenants out in the cold on the loans front.
The situation is such that if a non homeowner really needs a loan, they are forced to go to one of the many pay day loans firms which have sprung up and their loans have interest rates of often almost 2000%. Yes 2,000%, and this is not a typing error.
The poorest and weakest in society when they require a loan have always been forced to use the services of illegal money lenders who abound in the large inner city housing areas. Now people who in the past could obtain loans else where are being forced to go down the route of the illegal money lenders, as their last hope.
Homeowners are in a better position as if they have equity in their property they can obtain a secured loan based on the equity of their property, and if they have a good credit rating these secured homeowner loans are available from about 9% APR.
Bad credit secured loans are still available to homeowners with sufficient equity.
Looking to find the best deal on homeowner loans then visit www.championfinance.com to obtain the best information on homeowner loans for you.
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