The ebayisation of certain markets means that it’s now possible to get bank beating loans from your peers online without ever going near your high street bank. Zopa and similar services aim to cut out the middle man by putting lenders in touch with borrowers in order to save them money. Rates are attractive for [...]
Record low interest rates boost borrowers
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Interestingly the Daily Express ran a headline this past week suggesting that interest rates will remain at record low levels for the foreseable future. This is potentially very good for borrowers and those with mortgages especially as the expected payments on a mortgage dwindle. Whether savings will be passed on to standard loans is another [...]
Interest rates are still 0.5%
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Interest rates are still at record lows but mortgages are only starting to get reduced, but not enough. There still is uproar amoungst many that the banks are charging large amounts for their loans and mortgages whilst offering paltry returns for savers. At the latest MPC meeting where interest rates are decided, it was unanimously [...]
Cash Loans offered by National Housing Federation
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Cash loans are being offered to people wishing to borrow around £500 at reasonable rates of interest. It is in response to the high prices that door step lenders are charging, who can charge several hundred percent. Probable rates of interest are thought to be no more that 30% aer and payable weekly. So far [...]
Loan types
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Britons today are borrowing more money than at any other time in our history. With such huge sums being borrowed on personal credit, UK banks are acutely aware of the potential for huge profits. However, unlike the days of past, in today’s market banks need to be ever more innovative with the marketing of their [...]
Home equity
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Home equity is the difference between the value of one’s home and the amount remaining to be paid on the mortgage; essentially, how much of the house one owns. After a time, equity accumulates and there are several options one can use to make the most of it. First of all, let’s go over specifically [...]
Unsecured loans: ideal for you?
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Unsecured loans (also known as personal or signature loans) are loans which do not rely upon collateral and are, therefore, more difficult to obtain. Those who qualify often do so by way of an exemplary credit rating. Since there is no thing of value dependent on the repayment of an unsecured loan (except the borrower’s [...]
Interest rates: what are they? how do they work?
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The “price” of borrowing money, interest rates affect many aspects of one’s financial foundation. They are, essentially, the current market return on fixed income investments, and fittingly, rise and fall with market demand. In the UK, such rates are subjective to the decision of the Bank of England Monetary Policy Committee (MPC), which in turn, [...]
