Filed under: Loans, finance | Tags: christmas, homeowner loans, interest rate, payday loans
Hi all,
its been a little while but i’ve been busy on two exciting new projects. I’ll tell you about the first one next week.
Anyway, i thought id share a little good cheery news in these slight financially bleak times. One of the non-prime lenders (as in a lender for those of us with a less than perfect credit history) has followed the major banks and made an interest rate cut. These are purely for homeowner loans but the rate is now just 9.9%. Thats right Blackhorse (Just for Homeowners) have reduced their minimum APR for all Unsecured Loans from 16.9% to 9.9%, With immediate effect.
Nice to share a little good news.
p.s. christmas payday loans are available in time for Christmas!
Filed under: Uncategorized
I came across this article the other day and i must admit i was pretty amazed:
| The Financial Services Authority (FSA) has fined two directors from Abbey Mortgages Limited, based in Bexleyheath and Stokesley, £30,000 each for shortcomings in their mortgage business which put financially vulnerable customers at risk and the firm at risk of being used for mortgage fraud. |
| A review of self certified mortgages sold between June 2006 and June 2007 found that both directors had fallen short of the standards expected by the FSA.William John Evans and Gary Howes failed to check whether their customers had provided them with accurate information. They also neglected to check the affordability and suitability of recommended mortgage contracts, exposing their customers to the risk of receiving unsuitable advice.
The failings were so severe that the FSA has publicly censured the firm. The FSA would have fined the firm £50,000 but Abbey Mortgages Limited could not afford a financial penalty. The firm has however agreed to undertake a past business review and to stop advising on, or arranging, any future self certified business mortgage contracts. |
Just show that even the big names aren’t quite as thorough with the lending process as you expect them to be. In today’s troubled financial climate it can often to be better to go through a loan broker anyway. They’ll often come up with a better figure and since they’ve have to follow pretty strict guidelines to even get a consumer credit license – you can expect them to lend responsibly.
Obviously this isn’t the case with payday loans. You don’t have to worry about any of that since the loan isn’t secured on anything and is just simply an advance on your wages (effectively).
Anyway, enough from me for now.
Stay Safe,
Derek
P.S. If you’re having trouble getting out of debt then try these guys – the service is free!
Filed under: Uncategorized
I was speaking to a friend the other day about all this financial doom and gloom. He’s a bit of an exper on all that stuff. He waffled on about inflation and leverage.
Went over my head mostly but anyway…. It got me thinking. Can anyone actually get a loan at the minute? I mean surely somebody can or what are all the lenders doing. High Street banks, Lombard direct or even the sharks (not mentioning names for those). So i popped onto the website of my favourite Loan Broker for secured loans and what did i find? Well within 2 days the payworking was winging it’s way to me. I actualy didn’t go through with the loan in the end – but it proves it isn’t all doom and gloom
Ok i’d better not mention Iceland – oops.
Anyway payday loans are still definately an option. They don’t really rely on funding from the ‘big boys’ and you don’t even need a credit check.
Ok off to what the football. Come on England!
Until next time…
Derek
I’ve recently changed job and i got a fair bit of capital back from a shares scheme so that got me thinking about getting a house.
I still don’t have a huge deposit but i soon will.
How long do i wait before i get one i wonder?
After speaking to many friends and reading many newpaper articles it seems the magical time is in 10 months. Hmm, well i guess we’ll see on that one. That last thing i want to do is get a mortgage and then be trapped in negative equity 6 months later.
I guess thats the risk you take. I’ll be able to get Homeowner Loans at last i guess.
Derek
