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May 15, 2015
The introduction and recent tightening of licensing requirements have really ushered in a new era for the short-term market and loan calculator sites. Despite the new regulations taking an obvious toll on the number of businesses still involved in the sector the early indications are the usual supply and demand effect on price has been restrained by recent caps on interest rates and charges. In fact recent changes will be reviewed again in 2017 and the FCA I believe are mindful that a period of watching and waiting Is required. Why I hear you ask? Well with every period of change particularly when regulatory bodies and not market forces bring changes there may be some negative fall out. Simple finance principals don't apply to such periods of change. The restrictions to interest loan calculations may make the market unworkable from a risk to reward point of view. We are already seeing the weakest in the market place and those with huge debt gearing under pressure.
Well my Loan calculator, number crunching friends as I am sure you are all too aware the times they are a changing. A wise man once said "what does not kill you only makes you stronger" and in such wise words we can all draw strength. Ever since I began the loan calculator blog we have faced these challenges the same way, with gritted teeth and a full frontal charge and so it will be this time.
The decision to review the changes in 2017 is certainly a sensible approach. What we all need now my little loan calculators where ever you are is a period of review. With review comes polishing and finesse. With reviews come sideways steps in a forward-looking industry, which may be no bad thing. One thing is certain simple finance is anything but simple.
That's all for now
Take care from all at simple finance.