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    /24-7PressRelease/ - LONDON, UK, January 05, 2007 - The loan market is abuzz with many developments in the unsecured as well as secured loan sectors. Many reputed lenders, such as Northern Rock, Abbey, etc. offer unsecured loans at very attractive interest rates. Recently, the Bank of England raised the base rate. This has brought a relief to the borrowers of personal loans, as the interest rate for personal loan has stayed below 6%. However, a survey regarding the successful acceptance of unsecured loan applications shows that nearly 40% of the applicants face rejection of their loan applications. Increased instances of borrowers (of unsecured loans) defaulting on their loan payments have made the lenders extra-cautious while approving an unsecured loan.

As a result, applications for secured loans are increasing gradually due to their easy approval and availability. This has increased the business of the secured loan market. Well-known and trustworthy players, such as Alliance & Leicester and Capital One have entered this sector.

For more information please visit us at http://www.e-secured-loans.co.uk


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