Derek Hosewood’s Homeowner Loans Weblog

Well the good news is that i should get my damage deposit back but not all of it and not any time soon. Anyway i’ll come back to that. I’ve had some more thoughts about the credit crunch and secured homeowner loans.

I discovered something interesting today. Checking your credit rating with somewhere like Credit Expert can show you that you’ve paid everything dodgy (defaults, ccj’s) but until you actually get a certificate from the court then you might as well not have paid them off at all. Something i didn’t know anyway.

Another point of note is that although i’d probably not get a really low APR loan from somewhere like Lombard. I am able to get a loan from my bank and at a decent enough rate too. Places likes Loan Machine for homeowner loans can help find if there’s anyone who can lend you at all. There usually is even in these times.

Anyway back to my deposit and moving problems. Basically in a nutshell moving has left me with such a cash flow problem that i had to get a short term or “pay day” loan from Today Loanquick loans. Payday loans are not as bad as some of the press are making out. The apr is high if you calculate it over a year but the loans are only 1-2 months so APR is meaningless. They’re perfect for cash flow problems!

Anyway enough from me for now.

Derek