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Motorists may be able to secure a better deal on a new car if they take out a same day loan, according to Alliance & Leicester.

The group claims personal loans can be agreed within minutes and customers can collect the money the same day.

It states this virtual wad of notes could lead to a bigger discount as customers will be able to seal the deal on the spot.

Alternatively, it claims buyers could negotiate important extras like cruise control, an MP3 player or an extended warranty.

Personal loans manager at Alliance & Leicester Mark Boyle said: "Having the money to hand means motorists can concentrate on buying at the best price, without being enticed into taking out pricey car dealer finance."

Comparing personal loan rates before setting off to buy a new car rather than just going to one bank could also save drivers money.

People looking at taking out a loan may be interested to hear the Council of Mortgage Lenders (CML) claims it is unlikely there will be a reduction in the interest rate until it becomes apparent that inflation will not climb any higher.

"Once we get over this spike in inflation there are prospects then for perhaps more concerted action to reduce interest rates," a spokesperson for CML stated.

At the present time, the interest rate stands at five per cent, after being held in August.

The last time the country witnessed a change to the interest rate was in April, when there was a reduction of 0.25 per cent.

A decision on next month's interest rate will be made on September 4th.

Figures from the Office for National Statistics have shown that annual inflation rose to 4.4 per cent in July, up from 3.8 per cent in June.

This was the biggest change reported since records began in 1997.

Some five per cent of homeowners rely on personal loans when it comes to home improvements, according to Halifax.

However, the group claims more people are using their savings, with 80 per cent of those questioned saying they had funded renovations using money set aside for a rainy day.

A further ten per cent said they used a credit card to pay for work on their property.

The younger generation seemed more open to the idea of using a loan to pay for home improvements, with 12 per cent of those aged 18 to 34 saying a loan had helped them renovate their house.

With 28 per cent of homeowners planning to carry out work on their house in the next few years, more people may find they benefit from taking out a loan.

A secured loan is often a cost-effective option for homeowners as interest rates are lower because your property is used as surety.

Motorists looking at buying a new car may get a better deal with a loan rather than forecourt finance, according to Moneyfacts.

Spokesperson Michelle Slade said: "Getting the finance choice wrong could prove a costly mistake."

Borrowers to shop around, pointing out there are more than 40 providers offering a number of unsecured loans at different rates depending on whether you apply over the telephone or online., she advised

Research by Moneyfacts has revealed the difference between the best and worst deals available for a £5,000 loan could add up to as much as £769.

However, on a £10,000 loan that rises to £2,400.

Ms Slade claims motorists looking for a loan should always use the total repayment figure when working out which deal is best for them.

She states this is particularly important when buying payment protection cover on top of the loan as this can wipe out the benefits of a good interest rate.

In related news, uSwitch has advised people looking to take out a loan to do it sooner rather than later while there are still good deals to be had.

Some five per cent of homeowners rely on personal loans when it comes to home improvements, according to Halifax.

However, the group claims more people are using their savings, with 80 per cent of those questioned saying they had funded renovations using money set aside for a rainy day.

A further ten per cent said they used a credit card to pay for work on their property.

The younger generation seemed more open to the idea of using a loan to pay for home improvements, with 12 per cent of those aged 18 to 34 saying a loan had helped them renovate their house.

With 28 per cent of homeowners planning to carry out work on their house in the next few years, more people may find they benefit from taking out a loan.

A secured loan is often a cost-effective option for homeowners as interest rates are lower because your property is used as surety.

Motorists may be able to secure a better deal on a new car if they take out a same day loan, according to Alliance & Leicester.

The group claims personal loans can be agreed within minutes and customers can collect the money the same day.

It states this virtual wad of notes could lead to a bigger discount as customers will be able to seal the deal on the spot. Alternatively, it claims buyers could negotiate important extras like cruise control, an MP3 player or an extended warranty.

Personal loans manager at Alliance & Leicester Mark Boyle said: "Having the money to hand means motorists can concentrate on buying at the best price, without being enticed into taking out pricey car dealer finance."

Comparing personal loan rates before setting off to buy a new car rather than just going to one bank could also save drivers money.

People looking at taking out a loan may be interested to hear the Council of Mortgage Lenders (CML) claims it is unlikely there will be a reduction in the interest rate until it becomes apparent that inflation will not climb any higher.

"Once we get over this spike in inflation there are prospects then for perhaps more concerted action to reduce interest rates," a spokesperson for CML stated.

At the present time, the interest rate stands at five per cent, after being held in August.

The last time the country witnessed a change to the interest rate was in April, when there was a reduction of 0.25 per cent.

A decision on next month's interest rate will be made on September 4th.  Those considering taking out loans will be waiting for this news with interest.

Figures from the Office for National Statistics have shown that annual inflation rose to 4.4 per cent in July, up from 3.8 per cent in June.

This was the biggest change reported since records began in 1997.

Motorists looking at buying a new car may get a better deal with a loan rather than forecourt finance, according to Moneyfacts.

Spokesperson Michelle Slade said: "Getting the finance choice wrong could prove a costly mistake."

Borrowers to shop around, pointing out there are more than 40 providers offering a number of unsecured loans at different rates depending on whether you apply over the telephone or online., she advised

Research by Moneyfacts has revealed the difference between the best and worst deals available for a £5,000 loan could add up to as much as £769.

However, on a £10,000 loan that rises to £2,400.

Ms Slade claims motorists looking for a loan should always use the total repayment figure when working out which deal is best for them.

She states this is particularly important when buying payment protection cover on top of the loan as this can wipe out the benefits of a good interest rate.

In related news, uSwitch has advised people looking to take out a loan to do it sooner rather than later while there are still good deals to be had.

People looking to take out a personal loan should act sooner rather than later, according to uSwitch.

The group's comments come after Moneyback Bank and Alliance & Leicester announced increases to their unsecured personal loan rates.

Simeon Linstead, head of personal finance at uSwitch, said the average rate for a £10,000 loan over five years has risen from 8.74 per cent APR to 9.14 per cent APR over the course of seven weeks.

People in the UK could be looking at paying £1.2 billion more in interest than they did this time last year, he stated.

However, he added people who are prepared to shop around may find there are still competitive rates available.

"The remaining best buy deals may not be around for much longer so consumers should act now while they can still get some pretty good deals," he said.

Homeowners may find a secured loan is a better bet as interest rates tend to be lower as the risk to the lender is reduced.

People who are planning next year's holiday may want to take a loan out so they can book it as soon as possible, as the Association of Independent Tour Operators claims all the best deals will be snapped up early.

Spokesperson Ian Bradley said the current economic climate means that leaving booking to the last minute will not save you money.

He stated: "If you are thinking of going on holiday next year start thinking about it now."

This comes after widespread reports claiming that the average family holiday has risen by as much as £400.

A survey by ebookers found 51 per cent of people are booking their holiday early as a result of the credit crunch.

Meanwhile, 90 per cent of those questioned said that taking at least one holiday a year is one of the five most important factors that contribute to their overall happiness.

Homeowners who want to get a holiday booked early but do not have the cash available at the moment may find a secured loan is a cost-effective solution.

People who are planning next year's holiday may want to take a loan out so they can book it as soon as possible, as the Association of Independent Tour Operators claims all the best deals will be snapped up early.

Spokesperson Ian Bradley said the current economic climate means that leaving booking to the last minute will not save you money.

He stated: "If you are thinking of going on holiday next year start thinking about it now."

This comes after widespread reports claiming that the average family holiday has risen by as much as £400.

A survey by ebookers found 51 per cent of people are booking their holiday early as a result of the credit crunch.

Meanwhile, 90 per cent of those questioned said that taking at least one holiday a year is one of the five most important factors that contribute to their overall happiness.

Homeowners who want to get a holiday booked early but do not have the cash available at the moment may find secured loans to be a cost-effective solution.

People looking to take out personal loans should act sooner rather than later, according to uSwitch.

The group's comments come after Moneyback Bank and Alliance & Leicester announced increases to their unsecured personal loan rates.

Simeon Linstead, head of personal finance at uSwitch, said the average rate for a £10,000 loan over five years has risen from 8.74 per cent APR to 9.14 per cent APR over the course of seven weeks.

People in the UK could be looking at paying £1.2 billion more in interest than they did this time last year, he stated.

However, he added people who are prepared to shop around may find there are still competitive rates available.

"The remaining best buy deals may not be around for much longer so consumers should act now while they can still get some pretty good deals," he said.

Homeowners may find a secured loan is a better bet as interest rates tend to be lower as the risk to the lender is reduced.

Motorists who do not trust a garage to repair their old banger and are looking to buy a new car may find a loan can be a cost-effective way to pay for it.

Drivers may be especially reluctant to fork out for repairs after hearing a new survey has revealed 48 per cent of British motorists believe they have been scammed by a car mechanic.

The survey by insurance.co.uk has found 34 per cent of motorists who have been unhappy with the service they have received at a garage believe they have been fiddled for £100 and 51 per cent think they have been ripped off by £500.

A further 12 per cent say they have overpaid by £1,000 and three per cent claim they have shelled out £3,000 too much.

Commenting on the findings, Steve Grainger, head of insurance.co.uk, said: "Our research highlights that there are a number of rogue tradesmen trying to exploit drivers."

Drivers who would rather buy a new car than risk being ripped off may find they can find a competitive deal on a loan if they are prepared to shop around.

For people who are feeling the pinch but are unwilling to sacrifice their annual holiday abroad, a secured loan could be a cost-effective way to pay for a trip overseas.

A recent poll found 75 per cent of people would not allow their plans for a foreign getaway to be affected by the credit crunch, compared with approximately 19 per cent who said they could no longer afford the break they had planned.

Elsewhere, an online survey by Kayak of 1,000 customers found 90 per cent regard taking at least one holiday a year as one of the top five factors that contribute to their overall happiness.

Some 98 per cent of those questioned said they would forego other luxuries in order to make sure they could afford their trip, with more than a third saying their would ditch dining out and shopping for clothes in order to save up for a holiday.

Homeowners who are considering borrowing money to pay for a foreign getaway may find many secured loans offer competitive rates of interest as their house is used as surety and so the risk to the lender is reduced.

Motorists who do not trust a garage to repair their old banger and are looking to buy a new car may find a loan can be a cost-effective way to pay for it.

Drivers may be especially reluctant to fork out for repairs after hearing a new survey has revealed 48 per cent of British motorists believe they have been scammed by a car mechanic.

The survey by insurance.co.uk has found 34 per cent of motorists who have been unhappy with the service they have received at a garage believe they have been fiddled for £100 and 51 per cent think they have been ripped off by £500.

A further 12 per cent say they have overpaid by £1,000 and three per cent claim they have shelled out £3,000 too much.

Commenting on the findings, Steve Grainger, head of insurance.co.uk, said: "Our research highlights that there are a number of rogue tradesmen trying to exploit drivers."

Drivers who would rather buy a new car than risk being ripped off may find they can find a competitive deal on a loan if they are prepared to shop around.

For people who are feeling the pinch but are unwilling to sacrifice their annual holiday abroad, a secured loan could be a cost-effective way to pay for a trip overseas.

A recent poll found 75 per cent of people would not allow their plans for a foreign getaway to be affected by the credit crunch, compared with approximately 19 per cent who said they could no longer afford the break they had planned.

Elsewhere, an online survey by Kayak of 1,000 customers found 90 per cent regard taking at least one holiday a year as one of the top five factors that contribute to their overall happiness.

Some 98 per cent of those questioned said they would forego other luxuries in order to make sure they could afford their trip, with more than a third saying their would ditch dining out and shopping for clothes in order to save up for a holiday.

Homeowners who are considering borrowing money to pay for a foreign getaway may find many secured loans offer competitive rates of interest as their house is used as surety and so the risk to the lender is reduced.

As new research reveals that parents across the UK could be facing bills of approximately £1.7 billion for their children's extra-curricular activities, some mums and dads might find a secured loan is a cost-effective way to support their children's out of hours pursuits.

The report by Alliance & Leicester has found performing arts classes are likely to set parents back at least £10 a week, while kitting a child out with football gear will cost an average of £1,307.

It adds holiday membership to a sports and activities camp can cost around £5,758 a year and the cost of petrol used to ferry children to and from training and matches can soon add up.

Hetal Parmar from Alliance & Leicester said: "All parents know that taking part in extra-curricular activities benefits their children and it is right that they want to support their ambitions."

A secured loan is one option open to parents. This type of loan generally offers relatively low rates of interest as the risk to the lender is reduced.

People who are keen to take up an active hobby may find that a secured loan can help them get started.

Research from Yorkshire Bank has shown that the average cost of an active hobby in the UK is almost £280 a year.

One of the most popular pastimes in the UK is golf which will set you back an average of £755 a year, while for something a little more unusual like skydiving you will be looking at about £4,000 a year.

Gary Lumby, Yorkshire Bank's head of retail, said: "As the credit crunch bites, many of us are looking at how we can cut costs, but are reluctant to give up our favourite pastimes."

However, he added that with careful financial planning most people can continue to pursue their hobbies.

For homeowners, a secured loan can be a cost-effective way to cover the initial outlay required to take up a new hobby, as interest rates are generally lower because risk to the lender is reduced.

As new research reveals that parents across the UK could be facing bills of approximately £1.7 billion for their children's extra-curricular activities, some mums and dads might find secured loans a cost-effective way to support their children's out of hours pursuits.

The report by Alliance & Leicester has found performing arts classes are likely to set parents back at least £10 a week, while kitting a child out with football gear will cost an average of £1,307.

It adds holiday membership to a sports and activities camp can cost around £5,758 a year and the cost of petrol used to ferry children to and from training and matches can soon add up.

Hetal Parmar from Alliance & Leicester said: "All parents know that taking part in extra-curricular activities benefits their children and it is right that they want to support their ambitions."

Secured loans are one option open to parents. These type of loans generally offers relatively low rates of interest as the risk to the lender is reduced.

People who are keen to take up an active hobby may find that secured loans can help them get started.

Research from Yorkshire Bank has shown that the average cost of an active hobby in the UK is almost £280 a year.

One of the most popular pastimes in the UK is golf which will set you back an average of £755 a year, while for something a little more unusual like skydiving you will be looking at about £4,000 a year.

Gary Lumby, Yorkshire Bank's head of retail, said: "As the credit crunch bites, many of us are looking at how we can cut costs, but are reluctant to give up our favourite pastimes."

However, he added that with careful financial planning most people can continue to pursue their hobbies.

For homeowners, a secured loan can be a cost-effective way to cover the initial outlay required to take up a new hobby, as interest rates are generally lower because risk to the lender is reduced.

Motorists who are considering taking out a loan in order to buy a new car may be interested to hear that 26 per cent of drivers claim they will opt for an environmentally-friendly model next time they purchase a motor.

Research by the global information services company Experian has revealed 65 per cent of female motorists and 45 per cent of male drivers are concerned about the effect their current car is having on the environment.

Some 30 per cent of women drivers and 23 per cent of male motorists also claim how green a car is will be a major factor when choosing their next vehicle.

Kirk Fletcher, managing director of Experian's automotive division, said: "Our research shows that the environment is clearly becoming a bigger concern for car owners."

A secured loan could be a good option for homeowners looking to buy a new car as interest rates are generally lower than with an unsecured loan because of the reduced risk to the lender.

People looking to take out a loan must take the time to shop around, according to uSwitch.

Research by the group has revealed that over the past 13 months even the best deals are costing borrowers more.

It claims the interest rate on a competitive loan of £8,000 over four years has risen from 6.1 per cent APR to 7.4 per cent APR.

Borrowers are also warned that rejection rates for loans are increasing.

Since the beginning of the credit crunch, it is estimated that 1.39 million people have had their loan applications rejected.

However, uSwitch claims for those who are prepared to shop around, good deals can be had.

Simeon Linstead, head of personal finance, said: "The market is vast and there are still competitive rates for those who take the time to compare the offers available."

In order to increase their chances of being accepted for a loan, GE Home Money Lending claims borrowers should make sure their credit files are up to date, close down any unused credit cards and use price comparison websites.

Motorists who are considering taking out a loan in order to buy a new car may be interested to hear that 26 per cent of drivers claim they will opt for an environmentally-friendly model next time they purchase a motor.

Research by the global information services company Experian has revealed 65 per cent of female motorists and 45 per cent of male drivers are concerned about the effect their current car is having on the environment.

Some 30 per cent of women drivers and 23 per cent of male motorists also claim how green a car is will be a major factor when choosing their next vehicle.

Kirk Fletcher, managing director of Experian's automotive division, said: "Our research shows that the environment is clearly becoming a bigger concern for car owners."

A secured loan could be a good option for homeowners looking to buy a new car as interest rates are generally lower than with an unsecured loan because of the reduced risk to the lender.

People looking to take out loans must take the time to shop around, according to uSwitch.

Research by the group has revealed that over the past 13 months even the best deals are costing borrowers more. It claims the interest rate on a competitive loan of £8,000 over four years has risen from 6.1 per cent APR to 7.4 per cent APR.

Borrowers are also warned that rejection rates for loans are increasing. Since the beginning of the credit crunch, it is estimated that 1.39 million people have had their loan applications rejected.

However, uSwitch claims for those who are prepared to shop around, good deals can be had. Simeon Linstead, head of personal finance, said: "The market is vast and there are still competitive rates for those who take the time to compare the offers available."

In order to increase their chances of being accepted for a loan, GE Home Money Lending claims borrowers should make sure their credit files are up to date, close down any unused credit cards and use price comparison websites.

When it comes to white and audiovisual goods, Brits place quality before price, according to a report by Which?.

However, as economic times get tougher some people may find it difficult to be able to afford new equipment for the home.

Some 46 per cent of those questioned by Which? said they intended to reduce their spending in the coming year.

Jess Ross, editor at Which?, said: "Difficult times call for extreme measures and it's clear that some people won't be splashing out on luxuries in the near future."

Nevertheless, if the washing machine packs up or the fridge breaks down it is not always possible to wait to replace them. In cases like these a secured loan could be a good option.

According to the Thrifty Scot, secured loans are a good way of borrowing for homeowners as lenders charge less interest because their risk is reduced.

People looking to take out a loan can increase their chances of being accepted by checking their credit file is up to date before applying, according to GE Money Home Lending.

Research by the group has revealed 458,000 loan and mortgage customers had to apply at least four times before obtaining credit during the last 18 months.

It also found more than 3.4 million have been rejected for secured loans, unsecured loans, first mortgages and remortgages during the same period.

As well as checking their credit file, GE Money Home Lending also suggests borrowers close down unused credit cards and use price comparison websites before applying in order to increase their chances of success.

The group warns that failed applications can be logged on credit records and could count against a borrower if they try to take out a loan in the future.

Spokesperson Gerry Bell said: "Consumers should try as far as possible to only apply to lenders where there is a good chance their application will be accepted."

Elsewhere, the Thrifty Scot has said obtaining a secured loan is a straightforward process if you have property which you can use as surety.

When it comes to white and audiovisual goods, Brits place quality before price, according to a report by Which?.

However, as economic times get tougher some people may find it difficult to be able to afford new equipment for the home.

Some 46 per cent of those questioned by Which? said they intended to reduce their spending in the coming year.

Jess Ross, editor at Which?, said: "Difficult times call for extreme measures and it's clear that some people won't be splashing out on luxuries in the near future."

Nevertheless, if the washing machine packs up or the fridge breaks down it is not always possible to wait to replace them.

In cases like these a secured loan could be a good option.

According to the Thrifty Scot, secured loans are a good way of borrowing for homeowners as lenders charge less interest because their risk is reduced.

People looking to take out a loan can increase their chances of being accepted by checking their credit file is up to date before applying, according to GE Money Home Lending.

Research by the group has revealed 458,000 loan and mortgage customers had to apply at least four times before obtaining credit during the last 18 months.

It also found more than 3.4 million have been rejected for secured loans, unsecured loans, first mortgages and remortgages during the same period.

As well as checking their credit file, GE Money Home Lending also suggests borrowers close down unused credit cards and use price comparison websites before applying in order to increase their chances of success.

The group warns that failed applications can be logged on credit records and could count against a borrower if they try to take out a loan in the future.

Spokesperson Gerry Bell said: "Consumers should try as far as possible to only apply to lenders where there is a good chance their application will be accepted."

Elsewhere, the Thrifty Scot has said obtaining a secured loan is a straightforward process if you have property which you can use as surety.

Obtaining a secured loan is a straightforward process if you have property which you can use as surety, according to the Thrifty Scot.

It states although getting a secured loan can involve filling in a lot of forms, there are numerous advantages to this option if you need to borrow money.

The news provider claims you have a regular schedule of monthly payments which can be spread over up to 25 years.

Borrowers are also often permitted to take a payment holiday once a year, it adds.

Furthermore, secured loans can be tailored to the borrower's budget, as taking a longer term can reduce monthly payments.

Interest rates are also lower on secured loans because of the decreased risk for the lender, the Thrifty Scot states.

"With the ease of the internet and many lenders having an online presence, it is easier than ever before to search for an affordable personal loan online," it concludes.

Meanwhile, Moneyfacts claims Brits should shop around for a loan with the best possible rate of interest rather than settling for the first deal they come across.

Taking out a secured loan can help couples who are getting married afford all the added extras which will make their big day really special.

According to Hitched.co.uk the credit crunch is not putting couples off taking the plunge.

Francesca Moore, PR and marketing executive for the website, said weddings vary a great deal, so some people will opt to tie the knot on a budget while others will take out a loan and have a really extravagant day.

She stated a wedding day is something many women "have dreamt about since they were young and if it means taking out a loan to make it perfect then why not?"

This year's National Cost of a Wedding Survey found the average couple who get married in the UK spend £20,273. A typical wedding reception costs £7,724 and the average honeymoon is priced at £3,200.

Meanwhile, grooms are shelling out an average of £1,412 on engagement rings.

Obtaining a secured loan is a straightforward process if you have property which you can use as surety, according to the Thrifty Scot.

It states although getting a secured loan can involve filling in a lot of forms, there are numerous advantages to this option if you need to borrow money.

The news provider claims you have a regular schedule of monthly payments which can be spread over up to 25 years. Borrowers are also often permitted to take a payment holiday once a year, it adds.

Furthermore, secured loans can be tailored to the borrower's budget, as taking a longer term can reduce monthly payments.

Interest rates are also lower on secured loans because of the decreased risk for the lender, the Thrifty Scot states, "With the ease of the internet and many lenders having an online presence, it is easier than ever before to search for an affordable personal loan online."

Meanwhile, Moneyfacts claims Brits should shop around for a loan with the best possible rate of interest rather than settling for the first deal they come across.

Taking out a secured loan can help couples who are getting married afford all the added extras which will make their big day really special.

According to Hitched.co.uk the credit crunch is not putting couples off taking the plunge.

Francesca Moore, PR and marketing executive for the website, said weddings vary a great deal, so some people will opt to tie the knot on a budget while others will take out a loan and have a really extravagant day.

She stated a wedding day is something many women "have dreamt about since they were young and if it means taking out a loan to make it perfect then why not?"

This year's National Cost of a Wedding Survey found the average couple who get married in the UK spend £20,273.

A typical wedding reception costs £7,724 and the average honeymoon is priced at £3,200.

Meanwhile, grooms are shelling out an average of £1,412 on engagement rings.

Brits should shop around for a loan with the best possible rate of interest rather than settling for the first deal they come across, according to Moneyfacts.

The group has made this claim after conducting research which revealed a number of lenders increased the rates on their personal loans last month.

Moneyfacts' analyst Michelle Slade said many people simply approached their own bank without considering the full range of options open to them.

A few years ago, personal loans were "extremely competitive", she said.

However, as the credit crunch has tightened its grip she explained that the average rate on offer for a loan of £5,000 over three years has increased from 8.1 per cent to 11 per cent.

Ms Slade warned: "With no real signs that conditions are going to get better in the near future, rates could get much higher yet."

Elsewhere, Alliance & Leicester have claimed that personal loans can be more cost-effective than store cards.

Couples considering taking out a secured loan to cover the cost of getting hitched may be interested to hear that a survey has revealed the Caribbean has come top in a poll of dream wedding locations.

The survey by Halifax Travel Insurance revealed Las Vegas - where Peaches Geldof recently tied the knot - was the fourth most popular destination, while Wayne and Coleen Rooney's choice of the Amalfi Coast in Italy came in third.

Meanwhile Disneyland Paris also made the top ten, with twice as many men admitting they would like to say 'I do' with Mickey Mouse as their witness as women.

Spokesperson for Halifax Travel Insurance Vicky Watson said: "Destination weddings are increasing in popularity as the likes of Coleen and Wayne and now Peaches and her husband opt for such a thing."

Other locations that made the top ten included Cuba, Hawaii, Gretna Green and Napa Valley in the USA.

In other wedding-related news, Weddings Ideas Magazine has claimed the credit crunch is not putting people off getting married.

Couples considering taking out secured loans to cover the cost of getting hitched may be interested to hear that a survey has revealed the Caribbean has come top in a poll of dream wedding locations.

The survey by Halifax Travel Insurance revealed Las Vegas - where Peaches Geldof recently tied the knot - was the fourth most popular destination, while Wayne and Coleen Rooney's choice of the Amalfi Coast in Italy came in third.

Meanwhile Disneyland Paris also made the top ten, with twice as many men admitting they would like to say 'I do' with Mickey Mouse as their witness as women.

Spokesperson for Halifax Travel Insurance, Vicky Watson, said: "Destination weddings are increasing in popularity as the likes of Coleen and Wayne and now Peaches and her husband opt for such a thing."

Other locations that made the top ten included Cuba, Hawaii, Gretna Green and Napa Valley in the USA.  If you're planning to get hitched somewhere as exotic as this, a secured loan might just have to be on the cards.

In other wedding-related news, Weddings Ideas Magazine has claimed the credit crunch is not putting people off getting married.

Brits should shop around for a loan with the best possible rate of interest rather than settling for the first deal they come across, according to Moneyfacts.

The group has made this claim after conducting research which revealed a number of lenders increased the rates on their personal loans last month.

Moneyfacts' analyst Michelle Slade said many people simply approached their own bank without considering the full range of options open to them.

A few years ago, personal loans were "extremely competitive", she said.

However, as the credit crunch has tightened its grip she explained that the average rate on offer for a loan of £5,000 over three years has increased from 8.1 per cent to 11 per cent.

Ms Slade warned: "With no real signs that conditions are going to get better in the near future, rates could get much higher yet."

Elsewhere, Alliance & Leicester have claimed that personal loans can be more cost-effective than store cards.

There was important news for the secured loans industry this week as Barney Drake was elected to the board of the Association of Finance Brokers (AFB).

Drake, who co-established secured loan companies y3sloans and Yes Loans, commented on his election, “It’s an honour to be part of the AFB team who are consistently at the forefront of regulatory issues, especially during these difficult times.

Adding, “I look forward to becoming actively involved in representing the medium sized brokerage constituency for many years to come.”

While Robert Sinclair, director of the AFB, said, “We are delighted that Barney has been elected to represent medium sized firms on the AFB board.

“These are challenging times for the industry, and the wider economy, and it is more important than ever that the industry has a strong trade body representing its interests with regulators, politicians and other key stakeholders.”

Sinclair also remarked, “It is vital we have engaged members who are willing to serve on the Board. The secured loan industry faces a number of key challenges this year and sitting on the AFB Board offers a great opportunity to influence the future shape of our industry.”

Exeter City Council has launched a new service for people who struggling to meet their secured loan or mortgage repayments.

The new secured loan repayment advice service will be a partnership between the council and charity Homemaker South.

A spokeswoman from the charity said, “For many people, the temptation may be to ignore the problem until one or two repayments have been missed and the lender has then written threatening court action.

”However, often by this stage, the options may already be more limited. This new service is trying to encourage people to seek help at the earliest opportunity whilst there is still room for negotiation with the lender.”

While a spokesperson from the council commented on what he thinks the new secured loans and mortgage repayment advice service will mean to local residents facing tricky financial waters. “For many people, the temptation may be to ignore the problem until one or two repayments have been missed and the lender has then written threatening court action,” he said.

Adding, “However, often by this stage, the options may already be more limited. This new service is trying to encourage people to seek help at the earliest opportunity whilst there is still room for negotiation with the lender.”

Citizens Advice Bureau has issued statements criticising some mortgage and secured loan providers who, it believes, are failing to give borrowers a fair chance. 

Sue Edwards, head of policy with Citizens Advice, commented, “We are continuing to see high numbers of people coming to see us with mortgage and secured loan arrears. Yet in too many cases lenders are still not doing everything they can to help borrowers in trouble, piling on extra charges, not negotiating with borrowers to come to a workable solution over repayment arrangements and using court action as a first rather than a last resort.” S

he added that those providing secured loans and mortgages should consider all options when dealing with people who are having difficulty meeting their repayments, “To prevent the mortgage crisis deepening, it is vital that all lenders do everything in their power to help people avoid losing their homes: treating borrowers in arrears fairly and sympathetically, being willing to negotiate with borrowers in trouble and only using court action as a last resort.” 

She also said that the government should to take action to “strengthen safety nets for homeowners at risk.”

A Lincolnshire teacher has admitted fraud charges after a court heard how he used his brother’s details to obtain two loans worth a combined total of £11,000.

The 36-year-old, who still lives with his parents, first secured a £5,000 loan online from Northern Rock. The second loan, for £6,000, was also secured online, once again in the name of the man’s brother.

The solicitor prosecuting in the case told the court, “A sum of £6,000 was placed into an Abbey National account.

”The loan repayments were not, however, maintained. And this led to [the defendant] getting a letter from Northern Rock.

”It became apparent to this defendant's brother that something was amiss when he received a letter saying he was in arrears.”

The defendant’s solicitor confirmed that his client is a teacher. “He is a teacher. He is an agency-type teacher. But he has stopped teaching pending the outcome of this matter.”

It is understood that the defendant’s brother does not wish his hapless, loan-seeking sibling to be too harshly punished.

Finance website The Thrifty Scot has claimed that taking out a secured loan may help some UK lovebirds achieve the ideal wedding.

With the total cost of many weddings running well into the five-figure bracket, it is not uncommon for many spouses-to-be to use a loan, whether secured or otherwise, to fund dream celebrations for the big day.

The website recommended its readers that they stood a better chance of receiving a larger loan if they had some kind of collateral which to secure it against, as secured loans tend to be for bigger sums than those of the unsecured variety.

For those couples lacking sufficient capital who are planning a glamorous wedding in an exotic overseas location, such as Wayne Rooney and Colleen McLoughlin recently did, finding the right secured loan may represent the best option for raising the necessary funds.

However, the Thrifty Scot site did advise its readers to find the best available interest rate. It also said that “interest rates are usually reasonable for wedding loans, especially if you have a good credit rating.”

Link Lending, long established as a player in the short-term loans market, has announced that it will now also be offering secured loans.

Branded as Link Loans, the homeowner loan operation has entered the market offering fixed term rates, as well as Loan to Value (LTV) rates of up to 80%. LTV is the proportion of the value of a property or asset which you are able to borrow. For example, an LTV rate of 70% would allow you to borrow up to £70,000 on a house valued at £100,000.

The managing director of Link Lending commented on the new venture, “Offering secured loans has always been part of our expansion plans, and we have built in the capability to distribute, underwrite and process second charge products.

"While the supply of funds remains restricted within the mortgage lending sector, Link Loans will be distributed through a limited panel of distributors that has already been set up and we are very optimistic about the opportunities that the secured loan market represents.”

A leading figure from the debt advice industry has said that people who fail to make payments on their secured loans are much more likely to face repossession or forced sales of their homes than they are to go to prison.

Chris Tapp, director of Credit Action, commented that there were significant differences in the way in which lenders pursued the debts of their customers, with a particular distinction between the approaches of secured loans and unsecured loans companies respectively.

He explained, “In terms of people with unsecured debt, lenders might use county court judgements and bailiffs to try to recoup their debts.

”It tends to be more about the removal of a service, or the seizure of goods or the repossession of a house, so that the lender can get back as much as possible, than imprisonment.”

In terms of people unable to repay secured loans he said that repossessions and forced sales were the more likely route to be taken by lenders.

A prominent Midlands-based dispute resolution lawyer has recently warned of the potential pitfalls of company directors offering personal guarantees on a business loan.

The lawyer, Neil Williams, from George and Green, commented, “We have seen a sudden increase in the number of cases where we are advising directors who are being pursued for repayment of loans or overdrafts by banks, or for continued payment of rent on commercial property leases by landlords, having provided a personal guarantee

“It was tempting, particularly in the easier economic climate before the credit crunch started to bite, to give a personal guarantee against the provision of some form of finance for company expansion, or new premises.

“It was simply a signature on a piece of paper, with the belief that the business would continue to prosper and the lender would never demand their money back.

“However, as more businesses start to struggle and default on loan repayments, lenders are increasingly looking to recover their money from guarantors.”

He added that some directors may not always properly consider the full implications of offering a personal guarantee.

“Many people who give personal guarantees forget, or are not correctly advised in the first place, that they are actually a separate contract, totally divorced from the loan, mortgage, rent, or hire agreement, they may be guaranteeing,” he said.

“This means that unless they have specifically sought and been granted a release from this contract, that their liabilities under the guarantee may continue, even if they have sold the company or a property lease has been assigned, leading to potentially disastrous financial consequences.

“We are aware of one case, where in his eagerness to sell his business, a director did not get the landlord to release him from a rental guarantee at the time of the sale.”

UK businesses have been warned that, just like individuals, they too are at risk of becoming the victims of identity fraudsters who seek to take out loans in their names, open bank accounts in their names or make fraudulent purchases on existing accounts.

And, according to data from merchant banking group Close Brothers, these identity fraudsters may have already targeted around 200,000 businesses.

It is not only losing money through fraudulent financial dealings, whether through secured loans or otherwise, that businesses have to worry about. Their reputations could be at stake too, as financial irregularities could lead to consumers losing trust in a business’s brand.

Some businesses may only realise they have been targeted once they apply for a loan, only to find that an unexpectedly unhealthy credit score makes them ineligible.

Meanwhile, separate data released by the Metropolitan Police shows that identity theft may already be costing businesses around £50 a year.

The Financial Services Authority (FSA) has handed down a £840,000 fine to loans company Liverpool Victoria after it emerged that it has been miss-selling payment protection insurance to many of its customers.

This is not the first time a loan company has received such a fine in 2008. The fine nearly matches one issued earlier this year when the FSA penalised  HSBC subsidiary HFC Bank more thank £1 million for similar indiscretions.

At the time the FSA commented, “We are determined to see much better practice in the PPI market. We announced in September that we would be imposing higher fines for serious failings in the retail market including against firms who fall short in relation to PPI. The fine against HFC – the biggest PPI fine to date and first since our September announcement – is evidence of our determination in this area. HFC's failings put its customers at risk of buying unsuitable protection insurance and the financial impact on them of unsuitable advice was likely to be significant.”

This time Margaret Cole, the FSA’s director of enforcement, commented, “If… conversations are unclear or misleading it will be no defence for firms to say that full details were included in paperwork which customers received later.

”Liverpool Victoria is now proposing a comprehensive programme to contact its customers and pay them compensation where appropriate.”

Around 14,500 of the loans company’s customers may now be compensated for their losses.

In news that may of be interest to anyone trying to take out a secured loan in the UK, the government has said that it will ease restrictions on credit unions.

The move is expected to be of most benefit to those people hit hardest by the credit crunch such as low-income earners who are finding it difficult to obtain a secured loan. It is particularly hoped that the relaxed rules will prevent people trying to raise funds by dealing with loan sharks.

Kitty Usher, Economic Secretary to the Treasury, commented, “We want to make it easier for families to access the affordable credit on their doorstep that is offered by credit unions, rather than having to turn to more expensive schemes or, at the extreme end, illegal loan sharks.”

In the UK there are currently more than 600 credit unions. The government hopes to remove the “outdated and unnecessary” Common Bond rules so as to allow credit unions to offer their services to a broader ranger of people, including many who have been refused a secured loan.

To find out more about credit unions go to the Association of British Credit Unions.

The government is expected to come under pressure from mortgage lenders to relieve pressure in the market and allow for renewed growth when a key report is delivered next Tuesday.

Ironically, one of the proposals being mooted by the Council of Mortgage Lenders (CML) is for the Bank of England to give lenders a kind of secured loan that would enable them to release much needed funds for new customers.

The secured loan idea is seen by many as a vital tool in injecting new life into a declining sector. Just this week statistics released by the British Bankers Association revealed that just 21,184 new mortgages were processed last month, a fall of 67% on the same month in 2007 and the largest decline on record.

However, it is no certainty that the government will give its assent to the secured loans idea, with a spokesperson from the Treasury commenting, “We are considering different options at the moment but we have not made any decisions and we are not at the stage of making decisions.”

In the meantime, house prices continue to fall with no sign of the trend being arrested.