Secured loans could help guarantee a merry Christmas
12/11/2008Homeowners who are worried about how they are going to cover the cost of Christmas this year may want to consider taking out a secured loan.
Recent research has shown, with the credit crunch showing no signs of easing, some 39 per cent of Brits plan to recycle unwanted presents given to them in previous years.
According to the study by CreditExpert, this is a 16 per cent increase on 2007.
Of those questioned, 53 per cent admitted they were struggling financially as a result of the current economic climate and 40 per cent are planning to spend less on Christmas presents this year.
However, some people may be surprised at the low rates of interest on secured loans and may find them a cost-effective way of making sure this year's festive season is as merry as ever.
Managing director of CreditExpert Jim Hodgkins said: "Whatever you do spend this Christmas, you can improve your finances by remembering the crucial thing is to borrow responsibly."
 © Adfero Ltd
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