According to officials from the Office of Fair Trading many people may be paying way over the odds for their credit card borrowing, and the lenders that provide these cards could be raking in around £400 million every year simply because of the confusion that they cause amongst borrowers with their small print.Officials from the OFT have said that the confusing small print, which tends to be filled with financial jargon and technical terms that...more
It is important that you do your homework before you make an application for a loan, as this will not only help to ensure affordability for you, but could also help to speed up the whole process, enabling you to get the loan you need without any unnecessary delays. By doing your research you will find that the whole loans process can be faster and easier, and you can get the money that you need far more quickly.The type of preparation that you...more
Many of us take our bank accounts for granted these days but it is important to remember that bank accounts are not available to everyone, and these accounts are vital in helping most of us to run our day to day finances. There are a number of different bank accounts available, such as basic bank accounts, current accounts, and premium accounts, and if you are looking for a good bank account that enables you to do everything from pay bills or make card purchases you need to check what the account offers before you commit.Although there are basic bank accounts available, these are very basic and do not offer the same facilities as current and premium bank accounts. Therefore if you want more than just basic facilities then some of the things that you should look out for include:1. Does the bank account offer a debit card facility? Many basic bank accounts do not offer a debit card, although they do offer cash cards to make withdrawals from machines. A debit card can prove very useful, however, is it enables you to make purchases with the card in person, by phone and via the Internet.2. Is there a cheque book facility? Most basic bank accounts will not offer a cheque book facility,...more
If you are a homeowner in the UK and you are looking to borrow money for one of a wide range of purposes, then you can enjoy an added advantage compared to non-homeowners, and this is the ability to use your home as security. Your home can act as a valuable asset in many ways, and in addition to providing you and your loved ones with a valuable...more
Over the past few years secured loans have become increasingly popular amongst homeowners in the UK, and this rising popularity has been partly fuelled by rising property prices, which have left homeowners with higher levels of equity in their homes. This increased equity has provided homeowners with far more financial leverage when it comes to...more
Over recent months getting credit has become increasingly difficult for many people, as the effects of the credit crunch in the UK have resulted in far tighter credit conditions, with many lenders increasing stringency when it comes to their lending criteria. You will find that getting credit these days may not be as easy as in the past because lenders are getting increasingly cautious in light of the financial turmoil, and funding has become more difficult for many lenders.Many experts think that credit conditions are set to get tighter, and a number of lenders have started increasing their rejection levels when it comes to applications, often refusing those that they may have accepted a year ago. There are a number of steps that you can take to reduce the chances of ending up on a lender's rejection pile, and some of these are outlined below.1. Only apply for loans that you are eligible for. It is important to read the eligibility requirements before you apply, as these can vary from lender to lender, and you may be wasting your time completing an application for a loan that you are not even eligible for. This can lead to rejection, waste your time, and affect your credit because...more
Credit cards offer a high level of security and flexibility to customers, and this is why so many people use their credit cards for day to day purchases as well as for special purchases. However, in order to make the most of your credit card you need...more
One of the most stressful things that many people have to deal with these days is money problems, and financial strains have been identified as one of the major stress factors amongst consumers, along with relationship problems, moving home, etc....more
After Christmas and New Year celebrations have finished many of us find that we are left feeling tired, drained of energy, and worse still drained of money. The Christmas period can be a very financially demanding one, and once the festive season is...more
There are a number of financing options available to those looking to purchase a new car, with methods and sources available to suit a wide range of needs and circumstances. It is important that you look at the options that are open to you before you...more
Store cards are a form of credit card where a consumers can spend on the card and then either repay the balance in full at the end of each month in order to avoid interest, or can spread the repayments on the card over a period of time, in which case...more
Managing your debts can be a difficult and frustrating task if you have a wide range of debts and a variety of creditors to deal with. Unfortunately, many of us now have a range of debts that we have to make repayments on each month, and as well as...more