Since the credit crunch it has become much harder for anyone to obtain the loan they require, but for those with adverse credit who need a bad credit loan, it can sometimes seem almost impossible.

Those borrowers who are seeking advice and want to get the best deal they can on a new loan, often use the services of a financial adviser or a loan broker, who has access to a much wider range of the loan market, including lenders and loan deals which may not be available to the public directly.

But new regulation which is being introduced within the loan industry, particularly for home owner loans under the Mortgage Market Review (MMR), cold make it more difficult for even loan brokers and advisers to find a suitable bad credit loan for their clients.

A new survey amongst loan brokers and advisers found that 53 per cent of them said that they did not place a single bad credit loan case with a lender over the course of last year, whilst a further 30 per cent said that they were able to only place around 25 per cent of bad credit loan cases.

12 per cent of loan brokers said that they were able to place 75 per cent of their adverse credit loan cases and only 3 per cent said they did not have a problem placing bad credit loans for clients.

One Independent Financial Adviser said “I’m surprised that more loan brokers aren’t having difficulty placing cases for people with imperfect credit records. It’s bad enough trying to get a loan approved for somebody who has got no adverse credit, let alone someone who has.”

“On the back of these results, I would be encouraged to think that there is hope for these types of borrowers. But I can’t imagine that the levels of adverse credit that we’re talking about here would be anything major like bankruptcies and countless CCJ’s”