Choice Blog

"An investment in knowledge pays the best interest." - Benjamin Franklin.


From personal finance, to funding options, the Choice Blog is full of news, updates, tips and helpful information. Read our latest posts to keep up with the funding options available to consumers and the broader personal lending environment.

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Unsecured Loans

Business is bouncing back, but what’s the cost?

Last post: Feb 14, 2022

Over 1.6 million businesses have taken government backed coronavirus support loans and for most, this would have been to plug a hole and keep bills paid. Many will now be feeling the pinch since repayments have kicked in and are unable to apply for further loan funding for expansion and recovery. If the business is clearly still viable and is able to prove that they have now turned the corner, we may be able to turn to alternative finance options.

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Secured Loans

What do lenders consider when arranging secured loans?

Last post: Sep 20, 2018

Once upon a time, a payslip, a valuation and quick credit search were all that was required to arrange a secured loan (second charge mortgage). Today processes and regulations are, quite rightly, much more stringent.

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Guarantor Loans

How to create a plan that will persuade a guarantor

Last post: Sep 25, 2018

Create a financial plan which shows your prospective guarantor that you’re able to take responsibility for your loan. These helpful tips will help you present your finances in a clear, convincing way.

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Personal Finance

Could the “50/20/30 Rule” save you money?

Last post: Sep 27, 2018

Are you looking to boost your budget and nurture your savings? Committing to a rigid plan can be a helpful way to get serious. The 50/20/30 rule is one popular option which many savers swear by.

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Recent Blog posts

  • The Secured Loan market continues to grow at pace. The combination of people in Tracker mortgages they don’t wish to refinance and those who have accumulated some adverse credit and so are not eligible for a (re)mortgage or unsecured loan have meant Secured loans have become an increasingly appealing option for many.

  • A new product has just been launched that allows homebuyers borrow up to £50,000 (or £50,000 each for a couple to a joint maximum of £100,000) unsecured to place a deposit on a property.

  • Traditional Secured loans have always had a maximum LTV of 85%. Above that only one or two lenders would look at lending and to do so they charged a comparatively high rate. It was always felt that there was a gap in the market for someone to lend up to 100% LTV but at more palatable rates.

  • Though the credit crunch has taken its toll on the property market in the UK and further afield, it is not without its silver lining. Perhaps surprisingly we have recently seen an increase in interest from UK citizens looking to buy properties abroad, particularly in France.

  • While many secured loan lenders are keen to lend in England and wales, many have taken the view that they are less keen to venture north of the border. As a result the secured loan market in Scotland is more limited, however, at Choice Loans we do have several options, even for those who have adverse credit.

  • According to statistics released on Friday last, 27,390 people in England and Wales applied for bankruptcy in the second quarter of 2012 which represents a drop of 10% from the same period last year and the lowest number recorded in a quarter since 2008.

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