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The Market

In September 2006 Total UK Consumer Lending
Exceeded £1,250,000,000,000
(that's one and a quarter trillion pounds) for the first time

UK personal debt increased by more than £105 billion in the previous 12 months. That equates to more than £1 million every four minutes. That's more than £3000 every second!

Why does the market keep growing?

There are many reasons why people borrow. We provide loans to fund major purchases such as a house or car, for home improvements, to pay for a well-earned holiday or perhaps just to consolidate existing borrowing.

Did you know…?

•
 Graduates leaving university have average debts of more than £13,500 and that figure is increasing by around 5% every year
•
 The average price of a house in the UK now stands at more than £150,000 – more than 5% higher than this time last year
•
 As a nation we now spend more on eating out than we do on eating at home!
•
 It's estimated that it costs more than £160,000 to raise a child from birth to 21 – that's more than £7,000 a year!
•
 The cost of running a new car is now estimated to be more than £5,000 a year
•
 The average wedding now costs almost £20,000!

When faced with figures like this we're sure you'll agree it looks unlikely that the UK 's appetite for debt will reduce at any time in the near future.

Essential Loans is perfectly placed to help meet these demands. Our wide panel of lenders gives us unparalleled access to the full spectrum of potential borrowers. We can find loans for homeowners and tenants and have lenders who can provide finance for prime, mid-prime and sub-prime applicants.

 
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