Since the credit crunch hit the UK economy, the secured loans market, along with every other sector of the loans market, has suffered greatly, with lenders withdrawing loan products and reducing maximum loan to value levels, whilst increasing the interest rates they charge on their loans.

However, in recent months it looks as though the secured loans market is starting to make a come back, as several lenders and loan companies are beginning to offer new loan deals at more competitive rates and for much higher  loan to value levels than previously.

The latest loan company to enter the secured loan market is Masthaven, who have previously operated in the bridging loan sector, but are now planning to expand into secured loans in the very near future, with what they claim will be a competitively priced range of loan products for those who require this type of loan.

A secured loan can now often be seen as a realistic alternative for a home owner who would normally consider a remortgage on their property in order to raise additional funds, as there are now many cheap loan rates available on the market, many of which offer relatively high loan to value levels.

Someone who has an existing home owner loan on their lender’s standard variable rate, which they took out prior to the credit crunch, could be paying an extremely low interest rate on their loan, possibly even less than 1 per cent, which they would lose if they were to look for even the most competitive remortgage loan deal.

Also a borrower with some slight history of adverse credit, or previous loan arrears are likely to find it easier to be accepted for a secured loan on their property, rather than a remortgage deal.

For those individuals who are considering taking some equity out of their homes, a secured loan could now be a realistic option compared with a remortgage and they should seriously consider all the options before making a decision.

A New York attorneys decision to withdraw his claim on a multimillion dollar Iowa Lottery prize doesnt put to rest officials questions about how he obtained the ticket. Crawford Shaw, of Bedford, N.Y., withdrew his claim Thursday on a multimillion dollar Iowa Lottery prize just as mysteriously as he has made it, saying through a Des Moines law firm that he couldnt satisfy lottery officials request for basic information about how he obtained the winning ticket. The lottery has asked the Iowa Division of Criminal Investigation and the Iowa attorney general to investigate. Officials say Shaw submitted the ticket for redemption on behalf of a trust on Dec. 29, less than two hours before it expired, and has identified the recipient only as a corporation in the country of Belize. The lottery wants to know how Shaw obtained the ticket to make sure it wasnt stolen and that a valid player bought it.   13 Months It has been 13 months since the winning ticket was purchased at a Des Moines gas station in December 2010. Read more…

The Reserve Bank of India has agreed to the proposal of the banks’ to allow third party to set up ATM networks. At present the ATMs have to be owned and braded by the banks. Once the proposal is implemented, a third party will create and operate the ATM network.

The banks would then just need to be a member of the network and the customers of the respective banks can avail the ATM services with that particular network.

An official at RBI said, “The central bank will issue draft guidelines shortly on third party ATM management. The guidelines will lay down the conditions, revenue sharing methodology and instructions on how to use.”

A banker said, “RBI maintained that ATM business is a banking business and we can’t allow a third party to do banking business.”

Since the coalition government were formed on the 12^th of May 2010 between the Conservative and the Liberal Democrats, their main priority has been to reduce the deficit. This deficit refers to the gap between the amount of money the government receives and the amount it spends. Previous governments had overspent due to governmental borrowing, further increasing the level of national debt. So when the coalition government was formed, the deficit reduction was on the top of their list of priorities.

This has resulted in a series of public spending cuts, and a tightening of belts both for businesses and the general public. The government decided to cut many public bodies, as well as staff and budgets from local councils in an attempt to curb the amount they were spending. Taxes were raised, especially for those on higher incomes, and other taxes and charges have been included as a way of generating extra money into the government’s coffers.

Despite the apparent need, when cuts are quite severe, this can often have a detrimental effect on the growth of the economy. A

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