We are in a period where it seems as if loans are not so attractive as they once were, although secured lending is on the up, the loan market on the whole seems to be in a significantly downward trend. But why is this happening, there could be a number of reasons, but it all seems to be centred around the fear of not getting into debt. Also another reason that seems to be surfacing, is this thought that there is an unease when, coming into money in this way as it is not really your money.

This apparent down trend seems to be reflecting the recent problem that saw Barclay’s home loan division in Cardiff, having to make up to 300 people unemployed. A quote from Barclays stated “Barclays said firstplus will stop making new loans to customers from August 9 due to slowing demand.”

It may not be such a bad thing because we have to consider that a number of those who take out loans, may not actually be able to keep up with the monthly repayments.