RSS feed:
Categories
ARCHIVES
Car Loans – The New Generation
New laws on car loans have been revealed. High-interest loans secured on cars are to be outlawed under UK Government proposals tabled last week. So-called ‘logbook loans’ were archaic and enabled lenders to seize cars and other property from vulnerable borrowers without a court order, Kevin Brennan, the Consumer Minister, is quoted as saying in a report in The Times.
The report notes that about 40,000 people a year take out such loans, which it says are aggressively advertised on the Internet to bankrupts and people with poor credit histories or county court judgments. Typically the borrower can raise up to £5000 at short notice, paying interest rates of between 200 and 600%. But their cars are taken if they default and premises can be broken into to seize them.
January 10, 2010 at 8:09 am | Car Loans | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/car-loans/car-loans-the-new-generation/trackback/
Home Equity Loans: A Little Tip To Minimise Your Taxes
Unless you own your own business, there’s really not a lot you can do to minimize your taxes. Take out a home equity loan. (The interest is tax deductible.) Use it to pay off your credit card balances and consumer loans.
January 9, 2010 at 9:59 am | Home Equity Loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/home-equity-loan/home-equity-loans-a-little-tip-to-minimise-your-taxes/trackback/
Mortgages 1, Unsecured Loans, 0
The number of people in the UK taking out mortgages to buy a home rose again in November but the appetite for other loans and overdrafts continued to fall.
The Bank of England figures show that mortgage approvals stood at the highest level since March 2008.
There were 60,518 mortgages approved for house purchases in November, up from 57,718 the previous month.
But consumers continued to pay back unsecured loans, with consumer credit falling for the fifth month in a row.
Although credit card lending rose slightly in November, the lack of popularity of other loans and overdrafts meant that people paid back £376m more than they borrowed during the month.
January 8, 2010 at 1:32 am | Unsecured Loans, personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/mortgages-1-unsecured-loans-0/trackback/
Higher Interest Rates for Businesses
Almost 6,000 companies face paying higher interest charges on their Government-backed business loan from January 1 after an 11 month-long discount deal with the European Commission ends.
The premium charged by the Government for its guarantee at the heart of the Enterprise Finance Guarantee (EFG) scheme has rocketed by a third to 2pc after a temporary exemption from EC state aid rules expired.
The price rise affects the 5,800 existing loans drawn down by companies as well as more than 3,000 other loans already approved by the Business Department.
January 7, 2010 at 1:27 am | Business Loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/business-loan/higher-interest-rates-for-businesses/trackback/
Personal Loans – Popular for the First Time in a Long Time!
People moan about expensive personal loans, pointing out that the gap between Bank Base Rate at 0.5% and the best loan rates at around 8% gives banks a record profit margin. But historically, loan rates are quite reasonable and are now only marginally above what they were two years ago when BBR stood at 5.5%
If you’ve overspent on your credit card this Christmas – this might be the best time to think about consolidating that debt.
January 6, 2010 at 1:25 am | personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/personal-loans-popular-for-the-first-time-in-a-long-time/trackback/
Empty Pockets?
Unexpected financial expenditures can arise anytime. Consequently, the biggest problem that you can suffer is not being able to handle them on time. Sometimes you can deal with such expenses when you have enough cash available. However, there is always the situation that due to some previous default payments or having filed in for a bankruptcy, you are unable to get immediate financial assistance from banks and other related sources. So what is another alternative for you to use? Using the services of lenders that provide fast cash personal loans is your best choice.
December 21, 2009 at 2:46 pm | personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/empty-pockets/trackback/
Borrowing Money? You May Need to Look Into IVA
Borrowers could require IVA help as they struggle to clear debts exacerbated by the rising cost of personal loans.
According to Money Expert, these consumers have been left to pick up the cost of the Bank of England’s decision to lower interest rates to just 0.5 per cent.
Pierre Williams, head of research for the website, said that the move by the Monetary Policy Committee may have been designed to limit the effects of recession on the economy, but it did little to help consumers relying on loans to stay afloat. He said: “Personal loan rates were as low as five per cent before the financial crisis took hold. “They have climbed since then and are likely to stay high into next year.”Mr Williams’ words come on the back of research by moneysupermarket.com indicating that the typical rate of interest attached to personal loans for £5,000 has risen to 10.78 per cent, more than double what it was before the recession.
December 18, 2009 at 4:18 pm | personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/borrowing-money-you-may-need-to-look-into-iva/trackback/
Reading Between the Lines
It’s common sense, but always check the paperwork on your personal loans – it’s well worth the time and effort… Make sure you get the right personal loan that works on your terms.
December 17, 2009 at 12:20 pm | personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/reading-between-the-lines/trackback/
Faxless Payday Loans
When you’re looking for fast and easy cash payday loans, you don’t want one that needs your to fax any forms – you want an instant online decision. That’s exactly what you get with these guys:
This is the best place to get loans until payday.
August 8, 2009 at 3:04 pm | Payday Loans | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/payday-loans/faxless-payday-loans/trackback/
“It’s not that I forgot….”
Seasonal research from Abbey has revealed that the economic downturn has led many Britons to cut back on Valentine’s Day spending.
But figures from the Halifax Credit Cards revealed that Britons not only spend money on eating out and gifts each February, but also on their own appearance.
The average card holder spent £43 on cosmetics and £38 on shoes in order to impress a date.
But there are still some big spenders around romantically shelling out sums that might require personal loans. Regional data from Halifax found that customers in the south spent £504 on holidays to woo their loved ones, while consumers in the north spent £186 on jewellery.
June 14, 2009 at 10:40 am | personal loan | No comment
Trackback URL for this post:
http://www.personalloansmadeeasy.co.uk/loans-uk-info/personal-loan/%e2%80%9cit%e2%80%99s-not-that-i-forgot%e2%80%9d/trackback/