Unlikely as it sounds, weeds do not just have an affect on your garden image or quality of your garden wall or floor tiles; believe it or not an article from the Metro last month proved that they can also stop you getting a mortgage. Dave Williams from Cornwall attempted to borrow money from his Santander branch but was turned down the request of 83,000 due to the very tiny amount of Japanese knotweed on a land that he has recently purchased to...more
There is nothing more soul destroying than worrying and losing sleep because of debt and those in debt can fall into bad health and the moment debt raises it's ugly head , life becomes nothing more than a constant struggle to get through each day, and life certainly does not change for the better...People become depressed for virtually no reason what so ever,, and they do not succeed at coping with even the smallest worry whether it has anything...more
We speak to bankers, both Islamic and conventional, and laymen, both sincere and cynical, and compile twenty-one of the most commonly asked questions about riba and mortgages:1. In an Islamic home financing, the rent follows the rate of interest and is always a certain percentage above the base rate. Does this mean that the rent is simply replacing the interest to make it sound permissible?Interest is forbidden on the basis of it representing "rent" on the use of cash. The concept of benchmarking, on the other hand, in which rental rates are measured against a well-known benchmark, like the US Federal Funds Rate or LIBOR (London Inter-Bank Offered Rate), constitutes a measurement, not an actual interest charge. Scholars cite the example of selling wine: a Muslim vendor selling juice would be perfectly entitled to measure the price of his product against those of his wine-selling competitors in order to remain competitive.The variation in rental rates after the contract is signed could be a potential source of uncertainty leading to dispute (gharar), but scholars provide two mitigants: 1) mutual agreement by both parties to benchmark against a well-known measure; and...more
We speak to bankers, both Islamic and conventional, and laymen, both sincere and cynical, and compile twenty-one of the most commonly asked questions about riba and mortgages:1. Arent Islamic home financiers simply changing labels, replacing interest with rent? Whats the difference between a conventional mortgage and an Islamic home...more
Maybe you have tried to work with your mortgage company to stop bank foreclosure or maybe you just do not want to stop it. Either way, there are some things that you need to be aware of.If you intend to surrender your home to the bank, do yourself a favor and tell them that. This may help prevent them from calling you and contacting...more
Mortgage protection is an optional policy which ensures your mortgage payments are fulfilled if you cannot pay for certain reasons. Depending on your personal financial circumstances, gaining mortgage protection may be a good idea for safeguarding your home should difficult times occur unexpectedly.Why is mortgage protection necessary?In 2009, as the UK economy struggled to recover from the recession, 46,000 homes were repossessed, according to the Council of Mortgage Lenders. Falling into arrears with your mortgage can mean that you are in real danger of losing your home, and protection can provide you with a safety net to prevent that happening.If you do fail to pay your mortgage for a number of months, it is quite possible that your mortgage provider will start repossession proceedings. This is many people's worst nightmare and worth the extra monthly cost of mortgage protection payments. For others, though, there is less risk of financial difficulties and repossession, and for them the extra cost may not add up.How does mortgage protection work?If you choose to take on a protection policy, it will mean paying out a monthly sum on top of your usual mortgage payments. By doing so...more
Perhaps you want to buy a house for the first time. Or maybe you want to upgrade to a bigger house.No matter what your reason is for taking up a mortgage bond, it's wonderful if you have the right tool available that can tell you within seconds...more
The close of Summer is at hand.It has been a very pleasant spell of weather that was long overdue after one of the coldest dampest and snowiest Winters and Springs ever recordedAs such after such a long period of bad weather which reflected the...more
Earlier this year, the bankers of Europe submitted information into a stress test about their capital reserves to capture what kinds of securities their reserve funds were made of and how much they were fuelled by money based in...more
Many students are required to foot the bill for their own tuition, rent and academic reading materials while at college. However, if you have a bad credit history or even no credit history at all, it can prove difficult to secure a loan without...more
Cotton paper with a weight of around 80 to 90 grams per square meter is mostly used in the making of world banknotes. The final decision though, is based on the directives issued by the central bank of the specific country. Here the decision is taken...more
Understanding how payday loans work can help you handle urgent financial problems with ease. There is no way to plan for entirely unexpected situations, such as car accidents or serious medical issues. Either of these can bring with them expensive...more