Secured loans could help with the Christmas cheer
18/12/2008Parents determined to give their children a great Christmas this year may find secured loans can help.
Research by LV= has revealed some 68 per cent of kids in the UK are aware there is a credit crunch on and understand it may affect the festive season.
Of those eight to 18-year-olds questioned, 44 per cent said they expected to receive fewer or cheaper presents this year as a result of the economic downturn.
In the eight to ten-year-old age group, some 73 per cent believe in Father Christmas, but 26 per cent of those expect Santa's sack to be lighter on December 24th as the credit crunch tightens its grip.
Mike Rogers from LV= said: "Children are surprisingly clued up about the credit crunch and the impact it is having on Christmas and on family life generally."
Parents who own their own homes and want to splash out on their kids this year may find a secured loan can help.
Lenders are often prepared to offer competitive deals as a borrower's property is used as security.
 © Adfero Ltd
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