I think we can all agree that this year has been a fantastic year for the secured loan industry; the market has definitely stablised in light of the economic backdrop as the latest Secured Loan Index revealed yesterday.
I’m thrilled to say the Secured Loan Index has done exactly what it set out to do. Not only has it provided evidence of how the secured loan industry has matured since the credit crisis, it has also helped to raise awareness amongst intermediaries.
Before we launched the index back in July, monitoring the industry was difficult. The Finance and Leasing Association provided the industry with monthly lending stats but these didn’t include figures from the newer entrants to the market. However, since then we have managed to provide an accurate representation of the second charge sector’s health.
In the last 6 months alone the Index has revealed that second charge lending levels are not only stable but are almost double that of last year. Indices have also highlighted the influence new lending criteria and products has had on the market as a whole.
The outlook for the secured loan industry in 2013 remains positive and I believe as more lenders enter the market we will witness significant increases in lending volumes- perhaps even revisiting 2009 levels!
Lastly, I’d like to thank all the people who took part in The Secured Loan Industry’s Biggest Ever Giveaway. We had loads of fun announcing the winners and delivering the prizes- though some were harder to give away than others, I definitely had a lump in my throat when I sent the James Bond Scalextric to Steve Pollard of More4Loans!
This is my last blog for 2012 so I’d like to take this opportunity to wish everyone a merry Christmas and a prosperous New Year on behalf of everyone at Loans Warehouse.