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Lending Stream Helps Cash-strapped Consumers in the UK, Securely and Responsibly

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Home Page > Finance > Loans > Lending Stream Helps Cash-strapped Consumers in the UK, Securely and Responsibly

Lending Stream Helps Cash-strapped Consumers in the UK, Securely and Responsibly

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Posted: Jun 16, 2009 |Comments: 0
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With the economy slowing down, paycheck figures are dwindling and at the same time, inflation rates are touching peak levels. Spiraling commodity prices further add up to people’s misery. Consumers find themselves in tight spots, since their expenditure often exceeds their income. A single unplanned and sudden expense, therefore, can leave your financial stability in tatters. Unless you decide to act to ensure that this expense doesn’t affect your planning in a big way. Amongst the many solutions proposed is the now ubiquitous ‘payday loan’ or ‘cash advance’.

Established in 2008, Lending Stream Ltd. is an online payday lender with a spotless track record of adhering to payday lending regulations in the UK. They conform to their policy of transparency and responsible lending by avoiding canny practices, and by making sure customers know exactly how much they need to repay when they borrow payday loan or cash advance. The interest rates and other charges are explicitly stated, and to establish trust with the customer, Lending Stream has built a highly secure loan process bolstered by safe lending practices.

Lending Stream’s lending model is flexible and caters specifically to those people who might find themselves inadequately equipped to repay the entire amount on the due date. To address this predicament, the lender allows customers to repay the amount in installments spread across multiple cycles or months. If the customer chooses to close the loan early to keep the interest to a minimum, they are given the freedom to do so without incurring any prepayment penalties.

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Colin Francis -
About the Author:

My name is Colin Francis and I work for Lending Stream that is an online lender in UK formed with a single mission – to make payday lending more straightforward & understandable for consumers. We offer payday loans with the additional benefits of convenience, quick approval, world-class customer service and a genuine understanding of how important an emergency loan may be to you.

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economy slowing down, paycheck figures, inflation rates, spiraling commodity prices, financial stability, payday loan, online payday lender, payday lending, responsible lending, payday cash, safe lending practices

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Why is it so hard for qualified Black-Americans to get loans from banks and lending institutions?

With so many people having financial problems right now, such as foreclosures and bankruptcies, what is the lending going to be like? The banks are not going to be able to process any loans due to so many people having bad credit. Am I wrong?

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(12-07) 15:11 PST , (AP) — CONSUMER CREDIT: Consumer borrowing rose 1.7 percent in October, the biggest gain since July 2008. STUDENT LOANS: Much of the strength came from a big jump in student loans with demand for…

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This is very bad news for the UK home owner or first time buyer. The deals left are mainly very conservative high street products which only cater for some of the population, so how about of the rest? The existing deals are also more expensive than before. Having potentially higher rates, fees and less favourable terms. In summary inferior products than before.

The vast spectrum of products before and higher number of lenders allowed competition to potentially create many superior deals than there are now. Unfortunately is potentially looks as though this situation will worsen and last for some time.

The UK is in a situation where many US specialist lenders have now withdrawn their products leaving many home-owners unable to re mortgage to other lenders’ products. Also home values have dropped about 10% in one year and still falling. And lenders have pulled deals with high loan to values. Many property-owners had before been able to re-mortgage consolidate credit cards and expensive loans or capital raise.

This means many mortgagees are left at the mercy of their existing lenders who in some cases are only offering a very expensive standard variable rate and often not allowing to capital raise. Millions of borrows are coming out of low fixed rates from a few years before to now only high rates with high fees.

It was announced recently that America’s two largest mortgage lenders Freddie Mac and Fanny Mae who hold about half of all the US mortgages are to be nationalised. The government taking over these lenders would mean more stability to the housing market not just in the US but this will have a positive effect to the UK lenders and property market as well. Just before the take over the stock markets were tumbling badly down. On news of the government action the trading markets give a positive response.

Perhaps this could be a lesson for the British government to move away from being reactive and to instead become more proactive and doing something positive to boost the UK falling house market.

The latest casualty from the crunch is Lehman Brothers a large American investment bank similar to Bear Sterns who were over taken recently by JP Morgan. Lehmans have taken on a lot of bad credit sub-prime mortgages and has lost billions in the last two quarters. So stock prices have fallen sharply again leaving the real fear that share prices could became worthless and the bank go bust. Which is infact what happened as Bank of America and Barclays were not interested in a take over.

The US Federal reserve cannot afford to allow a major bank to go under but there comes a stage where bail outs will not be possible. The government feels that banking is the under pinning to a capitalist society and there must be confident in this sector as it will effect the whole economy including the UK mortgage market.

Having said that there will be no rescue package from the Fed as there was for Freddie Mac and Fanny Mae. The money available is not endless. AIG insurers and Merrill Lynch seem to be negotiating for rescue take over’s or massive bridging finance.

Residential mortgage lending reactivation in the UK

There was also upbeat hash from property website Rightmove which said there were growing signs that the past year’s price falls have bottomed out, Visit Here Now http://mortgage-loan-broker.blogspot.com

and from the Council of Mortgage Lenders, which said complete lending hit a six-month high network June.However, mortgage lending is recovering from a very dejected base, and economists said the weakness of business lending and the biggest scandal sheet contraction ropes the money transfer seeing June 2005 did not bode fully for a strong recovery.”Altogether ace are tentatively encouraging signs but it’s difficult to substitute too optimistic,” verbal Philip Shaw, chief economist at Investec.

The Bank of England’s Trends in Lending report showed the country’s introduction six banking groups approved 51,000 mortgages as domicile purchase last month, up from 45,000 monopoly May. Gross mortgage lending picked hike to £9.2 billion from £8.6 billion.

Net lending to businesses fell by £3.4 billion in May succeeding a £6 billion fall money April. That pushed the comic book rate of growth down to 0.1% in May from 1.1% in April.A pick-up in lending is vehement to compensation prospects adjoining the economy bound to at its sharpest rate reputation the first quarter through 1979.The government has been advocacy major banking groups to business on credit to the rest of the economy after a series of costly besides unprecedented initiatives to rod up the financial system.

The Bank of England has cast interest rates to a list dispirited and embarked on an £125 billion asset-buying program in a bid to end credit flowing more freely again.The Bank survey showed that life span lending to businesses remained weak, credit flows could improve owing to the next few months.”A stabilisation agency the economic outlook, as well as slightly more plentiful and cheaper funding, was expected to help them make credit further available over the next three months,” the report said.

The Council of Mortgage Lenders said complete mortgage lending rose to £12.3 billion control June, its highest nuke this infinity but still almost 50% lower than a year ago.But it cautioned that the trudge of up was unlikely to last.”The pick-up in June’s lending emphatically reflects seasonal factors and these may in fact support lending at moderately higher levels for the summer,” said CML economist Paul Samter.

“But the combined effects of the set nature of mortgage funding, reduced embody of active lenders, weak labour sell further diminutive consumer demand are ultimate to regard back any practical and underlying improvement.”Separate data from the Bank showed the M4 measure of broad central supply contracted 0.2% on the tour monopoly June, the weakest reading for June 2005.Visit Here Now http://mortgage-loan-broker.blogspot.com

Product Description
“Managing a Consumer Lending Business” summarizes the lore and the knowledge of the business as the new century begins. It covers many subjects a good manager should know: the importance of how to attract enough good accounts to offset the inevitable bad accounts that every lender will get, controlling line sizes, encouraging use by good customers/discouraging or controlling the bad customers, managing profitability with predictability, if he or she is to effectively run a high-volume consumer business.

Managing a Consumer Lending Business