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UK Finances and Health Concerns
March 11, 2020

Across the United Kingdom, panic appears be setting in in light of the recent Corona virus outbreak. But what impact will this have upon finances, and do need to be worried about the potential of significant shortfalls within the UK financial sector?

Current experts on the corona-virus are significantly concerned about the spread of the disease; an counterbalancing this there are many commentators who believe there has been some hype in terms of the overall impact of this modern day pandemic. When we link the concerns of the medical experts to any potential impact on finances within the United Kingdom and indeed across the wider world, there could potentially be some hard-hitting financial setbacks on the horizon. There has recently been a massive fall in some of the foreign financial markets, which analysts have confirmed could have had a direct correlation to the corona virus outbreak; however, here are United Kingdom loans we would argue that there are other factors which have impacted upon the crash of the market, which we believe, sit outside of any imminent medical crisis.

Planning for a Financial Shortfall

So how is the best way to prepare for what we really don’t know is around the corner? When thinking about money and the impact on the average United Kingdom residents wallet, there appears to be little downward trajectory within the United Kingdom financial sector this is a positive news when considering the stability of the financial markets in the United Kingdom. There still appears to be a booming market in the quick loan and short-term loan unsecured lending arena and many of the major players are propagating the key slots within this sector. Housing continues to appear strong as a financial investment and, as always here are United Kingdom Loans, we believe this is a solid investment strategy with minimal risk. When considering how one should prepare for any imminent health crisis, the advice from United Kingdom Loans would be to continue as normal. Although there has been panic buying of alcohol hand wash and toilet tissue, this has again been sensationalised by the media as a way to scare the nation silly. But when considering personal finances there appears to have been little negative ramifications linked to the health crisis which is on our news screens on a daily basis. This is positive and ultimately means that the financial sector within the United Kingdom continues to be stable.

Potential Financial Crisis

When considering the long-term impact of the current crisis, there could potentially be long-term financial strains on the United Kingdom economy. The advice from United Kingdom Loans would therefore be to ensure any personal savings are secured into solid investment strategies that may yield low income returns, but will ultimately ensure there is no risk to any potential investment. We believe that now is not the time to be making poor choices and risky investments given the fluctuating political climate, ongoing national health concerns relating to Corona Virus and the fall of foreign stock markets around the world. It is certainly fair to say that 2020 continues to be an interesting year in terms of the financial sector and here at United Kingdom Loans we will continue to monitor the United Kingdom ongoing financial situation carefully and as ever, report our findings.

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.