News & Features

A couple has spoken about the thousands of pounds they were charged by a secured loan lender for insurance that they could never use. They took out the loan two years ago, and said that they have experienced nothing but financial problems ever since.

The couple state that they were charged over eighteen thousand pounds for Payment Protection Insurance cover that they did not need or want after being persuaded to purchase the insurance cover when they took out the loan.

Over recent weeks the Chancellor of the Exchequer has been pushing for lenders in the UK to increase availability for longer term fixed rate mortgages of up to the whole term of the mortgage to increase stability further for those that may face difficulties when it comes to variable repayments.

However, according to industry professionals most consumers are not keen to take out these longer term mortgage loans, and prefer to take out fixed rates on a shorter term.

The financial headlines in the UK have been filled with information about the effects of the global credit crunch of late. All financial sectors have been affected and consumers have found that accessibility to finance, particularly for those with damaged credit, has become more and more difficult.

According to recent figures the last seven months has seen rejections on mortgage loan applications soar by nearly sixty percent.

First time buyers in many areas of the UK are being advised to wait it out before rushing into taking out a mortgage loan, amidst speculation that both house prices and interest rates are set to fall.

Official figures have shown that property prices in the UK have already taken a tumble in September in many areas, although property values continue to rise in Scotland and London.

Many analysts are also predicting that there will be a cut in interest rates before the end of the year, which would bring the interest rate down to 5.5% or below.

The recent turmoil that has hit the UK's financial markets resulting from the credit crunch that was sparked in the sub-prime sector of the United States has resulted in a number of lenders pushing up interest rates on their unsecured personal loans, with some increasing rates by as much as four percent.

Borrowers will find that the cost of taking out a personal unsecured loan has rocketed as a result of increased stringency from lenders and increased inter-bank lending fees stemming from the chaos that has affected the finance industry over recent weeks.

In the past couple of weeks around ten lenders are thought to have increased the interest rates charged on their unsecured personal loans.

We all want to make the best of our homes - which are essentially our sanctuaries where we can take time out from the stresses and hassles of the outside world and instead we can relax and kick back with our loved ones.

Home improvements can really improve the quality of life for those living in the property and can make a huge difference to your enjoyment of the time that you spend in the home... read on

Many households in the UK are suffering from high levels of debt, with a number of loans, credit cards, store cards, catalogues and more, each of which could be costing a small fortune in interest.

If you've got mounting up debts with several different lenders it may be time to consolidate them. By consolidating all of your existing debts you can start to save yourself money in repayments... read on