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Due to the current recession many individuals think that bad credit loans no longer exist.

This lack of complete understanding of the situation regarding bad credit loans does make sense as after all it was to some extent due to the lax lending and slack underwriting criteria connected with bad credit loans includiing the advancing of bad credit self certification secured loans, mortgages nd remortgages which helped precipitate the current economic climate.

It has always been extremely difficult for people who do not own a property to get a loan of any kind even if their credit file is good. For those with a poor credit rating it has always proved difficult to get a bad credit loan. Welcome Finance did offer small bad credit loans to tenants at high rates of interest, but with the demise of Welcome these bad credit loans are no longer available at all.

Homeowners are in a better situation, and in fact until the advent of the credit crunch bad credit loans were quite readily available from a good range of secured bad credit loan lenders. Even homeowners with the most awful credit rating could get a bad credit loan up to a maximum LTV of 75%

Bad credit secured loans are not so easy to obtain now as they were then, but so saying there is some availability even now.

There are still bad credit loan lenders who advance bad credit loans up to a maximum LTV of 60% to 70% but these bad credit loans are for light adverse.

Blemain Finance and First European Securites are the two remaining secured loan lenders who give bad credit secured loans to homeowners with any number of adverse credit units registered against them.

These bad credit secured loans have a maximum limit of 23,000 and a maximum LTV of 50% of the value of the property being given as security.

These bad credit loans can really help a homeowner in a sticky situation, and can see them through the credit crunch.In the long run they can help homeowner’s credit rating, and they are still available.

Looking to find the best deal on bad credit loans then visit www.championfinance.com to find the best advice on bad credit loans for you.

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