Loan News & Information
Home Purchases by Couples Increased in 2007
Posted 2008-02-10
Does it seem like more of your friends are moving in together? If you think so, you may be correct. According to research from company John Charcol, in 2007 the amount of first-time home purchases made by couples increased to...
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Credit Card Fraud: a “Victimless Crime”?
Posted 2008-02-9
Security expert with protection firm CPP, Danny Harrison, states that credit card fraud is viewed largely as a “victimless crime.” Meaning that those who commit the fraud do not believe they are harming individuals, as banks are typically held accountable for the lost money. He believes this is one contributing factor to the high incidence of credit card fraud. Mr. Harrison explains, “What’s happened is credit card fraud is moving more and more in to becoming what’s viewed as a victimless crime because the fraudster sees that it is the bank that pays and not the individual and in the majority of cases that’s true.” Mr. Harrison warns consumers to monitor where they keep their cards and to call the bank immediately if the card is stolen or lost. In addition, it is wise to write down the list of emergency contact numbers for the credit institutions and keep it outside of your wallet in case it is stolen. ...
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Mortgage Holders: Pay off Loans Early
Posted 2008-02-8
Mortgage experts John Charcol recently advised mortgage consumers to consider paying of their mortgage early. According to the company, mortgage consumers may be able to pay off mortgages early by paying mortgages at the same rate as they did before the interest rate drop. John Charcol spokesperson, Katie Tucker, explained that, “For many people, the mortgage is what dictates when you can retire. By paying it off even a few years early it can make a difference to your quality of life not only because of age, but because of the money you free up to spend on other things.” Perhaps as evidence of the spreading view of property as an excellent investment, John Charcol research indicates that more first-time homebuyers are moving in as couples. ...
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Home Buyers: Don’t Be Dismayed
Posted 2008-02-8
Those who want to purchase a home in the near future for the first time may be dismayed from the copious news reports and discussions about the recent tightening policies of mortgage providers. Since December 2007, eleven mortgage providers have reduced their maximum loan amounts, according to Moneyfacts.co.uk research. However, Moneyfacts.co.uk says first time buyers should continue in their plans to purchase a home, although they may need larger deposits or guarantees from a third party than they would have needed before. According to Darren Cook, Moneyfacts.co.uk head of mortgages, this requirement can protect first time buyers from over committing in a home purchase. Furthermore, he argues that first time buyers may even benefit from the current economic climate. He says, “I think lenders are still supporting first-time buyers, they’re possibly just being a little bit more prudent in how they advance their funds.” ...
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It’s Wise to Insure Valentine’s Day Jewellery
Posted 2008-02-7
Jewellery is one of the most popular gifts for Valentine’s Day, and according to Direct Line research, Britons are about to spend an estimated £467 on it for the 2008 holiday. With the preponderance of expensive bling being purchased, Direct Line Home Insurance would like consumers to consider the rather unromantic aspect of purchasing jewellery: insuring it. Andrew Lower, Direct Line head states, “Insurance is probably the last thing on most people’s mind when they are showering their loved ones with gifts on Valentine’s Day. [However], having the right cover in place could prevent heartache if the unthinkable happens and that precious item is lost or stolen.” Direct Line also advises photographing your baubles and keeping the proofs of purchase. In addition to the Valentine’s Day advice, Direct Line issued a warning to U.K. residents subject to flooding to ensure their home insurance is up to date, due to the bad weather experienced recently. ...
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Average Cost of Valentine’s Day
Posted 2008-02-7
Of course it is never polite to ask your sweetie how much he or she spent on making your Valentine’s Day special, but if you’re secretly interested, PayPal reported that their research shows the average Valentine’s Day cost equates to £71.25 for British consumers. Retailers adore the holiday, as they garner approximately £1.6 billion from 23 million U.K. residents. PayPal’s research further indicates that approximately 33 per cent of romantics plan to spend between £50 and £99 on purchases, while 44 per cent of 18 to 24 year olds plan on spending the same amount. An astounding 22 per cent who responded to PayPal’s survey stated that they plan on spending in between £100 and £249 for their loved ones. Cristina Hoole, spokeswoman for PayPal, reflected that cupid must be doing his job well; “it would seem romance is far from dead.” ...
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Consumer Fear Inflation
Posted 2008-02-6
If you hadn’t noticed from dinner conversations, office chat, and television reports, Brits are increasingly becoming concerned over the rate of inflation. Apparently, the concern is enough to impact consumer confidence throughout the U.K., according to the most recent Consumer...
2008 Looks Good for Landlords
Posted 2008-02-5
2008 is shaping up to be a good year for Landlords. With Paragon Mortgages reporting a 19.4 per cent increase for 2007 in the amount of rentals (8.1 per cent of which occurred in the later quarter of the year), and the trend projected to continue through 2008, industry members feel optimistic about the coming year, states David Salisbury, chairman of the National Landlord’s Association. In fact, the rental industry has been faring so well that research shows over 25 per cent of landlords plan on increasing their portfolios over the next five years. Based on this research, Mr. Salisbury comments, “The chances are that, in the coming months, there will be increasing demand placed on the private-rented sector and well-managed portfolios can only serve to benefit both tenants and landlords alike.” ...
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Interest Rate Affects Inflation
Posted 2008-02-3
According to the Motley Fool, while the Bank of England’s decision to cut interest rates was not a surprise, it does increase concern for inflation. The interest rate cut, bringing it down a quarter of a point to 5.25 per cent, comes in the midst of increasing energy prices and some of the highest oil prices on record. The Motley Fool explains that the Bank of England’s decision was based solely on avoiding economic recession. Specifically, David Kuo, head of personal finance at Motley Fool says, “consumers should be aware of the damaging effects of inflation even if the Bank of England chooses to ignore it for now. In order to beat rising prices, we need to ensure that any savings we have will guarantee a better return.” ...
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Fuel Prices Rise
Posted 2008-02-2
As temperatures outside drop and thermostats inside are cranked up, now is not the best time for consumers’ fuel prices to rise. Unfortunately, however, this is exactly what is happening; uSwitch.com notes that all but one of the major fuel...