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The Impact of Brexit Delay
October 28, 2019

We thought we would be there by now! A mere three days before the date set for leaving the European Union, with or without a deal, or at least that’s what we were promised by Prime Minister. Unfortunately, it has not happened. A delay has been implemented to leave the European Union with many commentators stating it will be deep into 2020 by the time the United Kingdom has left the EU.

What is the Fall Out of the Delay?

In terms of the impact on the United Kingdom financial sector, this has some significant ramifications. Here are United Kingdom Loans we have carefully assessed the fallout from the latest delay in leaving Europe. We believe that most financial institutions who provide quick loans within the United Kingdom will remain largely unaffected in the short term. Some of the major quick loan operations will however have the opportunity to make detailed plans for any potential separation from Europe. The delay has in fact given some of the bigger lending companies breathing space, and time to reflect and indeed plan for the inevitable separation. Small quick loans will continue to be needed during the run-up to leaving the European Union and here at United Kingdom Loans, we strongly believe that quick loans will continue to be high on the agenda for residents of the United Kingdom residents following Brexit.

The question is, when will we actually leave Europe?

Nobody actually knows this for sure; clearly there is evidence to suggest an election will take place within the UK in the forthcoming months, and this will help the Government to reset and take stock of some of the difficult decisions it had to collectively make in previous months, leading up to the 31st October deadline. In terms of United Kingdom Loans and our quick loan service, we will continue to monitor the situation carefully and plan our operations according to the need of British residents. Because we have the luxury of partnering up with some of the major lenders within the unsecured loan market, we will continue to provide our customers, new and old, with access to quick lending, alongside flexible repayment terms.

Historical Times

It is certainly a complex and indeed historic political climate in which we are living in within the United Kingdom. It is hoped that Brexit will be resolved in 2020; however a word of caution, the chances are there could be additional lengthy delays to the divorce from Europe, as opponents to leaving the EU are dragged kicking and screaming to an official exit date.

United Kingdom Loans does not make credit decisions and is not a lender. United Kingdom Loans introduces customers to Nouveau Finance Limited, who match customer's loan applications with lenders on their panel based on the information you provide. United Kingdom Loans may receive commissions for introductions. This website does not directly endorse a particular product or service. Information on our website should be taken as opinion only. Loans for UK based customers only. Loans are subject to status and satisfactory affordability checks. Over 18's only. Default charges may apply if you do not repay on time. Short term loans are not suitable for longer term borrowing needs.

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Non Payment Implications
The implications of non-payment of your loan could include adverse details being included in your credit report. This could adversely affect future attempts at securing credit or finance, in additional to further charges potentially being added by the lender. Where you miss a payment entirely, you will often incurr a charge / fee that will be added on to the total amount that you owe. Upon a missed payment, lenders will often try to contact you by telephone or letter in order to recover the funds and they may be able to arrange a new repayment date with you. If you are struggling, or think there is a possibility that you will not be able to meet repayments, Rhumsaa Finance strongly recommends that you contact the lender in the first instance.