UK banks' chip and pin technology must be overhauled after it emerged that one in seven people could have already been a victim of a "fatal flaw" in the system.

Experts at Cambridge University believe the system is "broken" after they tricked it into accepting transactions without using a valid personal identification number.

They say the flaw is so fundamental it threatens to undermine the entire security of the system.

Which? said that in a recent survey 14 per cent of people – one in seven – said they have had money taken from their bank account and 13 per cent from a credit card.

Of those around half did not get their money back from the bank, even though they insisted they did not use or authorise the "disputed withdrawal".

Professor Ross Anderson, a computer expert, claimed to have developed a way of bypassing security systems which renders chip and pin no longer "fit for purpose".

His team's "man in the middle" technique involves having a separate card reader in a back pack.

The fraudster puts the stolen credit or debit card into the shop's reader but then the second reader in his bag sends a "pin OK" signal to the shop terminal.

The shop terminal then sends back a transaction go-ahead signal to the terminal with the stolen card and money is taken off it.

They claim to have used it a number of times without the banks, who firmly deny it is a threat, being any the wiser.

Prof Anderson, who two years proved that cards could be cloned, accused the banks of lying when they said there was no problem.

"How would the banks know if the fraud has taken place?," he said. "We used it in our canteen and they have never contacted us to say that there was a fraud.

"We have many examples of people who have had their cards stolen and then purchases made using the chip and pin.

"They are adamant they didn't use it but if the banks say chip and pin has been used you have to pay.

"I think many of these people would have been victim of the kind of technique we have developed.

"The banks are wrong. All the banks are lying. They are maliciously and wilfully deceiving the customer. If there was any justice then the police would be looking into this. The system is not fit for purpose."

Stephen Mason, a barrister who specialises in cases of chip and pin fraud, said at the very least the potential breach of security should be investigated.

"There is clearly something wrong with the system," he said. "I have people who believe as much as £4,000 has been taken from their accounts.

"It is not right for the banks to say our systems are perfect. The banks need to realise there is reasonable doubt about how secure the system is."

But The UK Cards Association, which represents the banks' card operations, dismissed the claim, saying that while the research had shown what it was possible to do in theory, this did not mean it was practical or even possible to do in reality.

Figures for fraud committed on lost and stolen cards were down to the lowest figure for two decades, she added.

The Financial Ombudsman Service, which decides on any disputed claims, said any new methods of committing fraud would be taken into consideration in future disputes.

At present, the customer is accountable for the fraud as banks argue that PIN verified transactions are secure. Given this attack demonstrates a clear method of bypassing the PIN system, this assertion by the banks stands on shakier ground.

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Labels: Bank of England, consolidate debt loans, loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 3:13 PM 0 comments links to this post

The number of people being evicted from their homes has climbed to a 14 year high, with an average of 126 repossessions every day in 2009.

As many as 46,000 people had their home repossessed last year, the highest level since 1995 and 15 per cent more than the previous year.

The figure from the Council of Mortgage Lenders is significantly below the group’s original forecast of 75,000, which was revised down twice to 48,000.

However, the CML predicts a sharp increase in repossessions and the number of people falling behind with their monthly mortgage payments this year.

It blamed uncertainty in the economy and possible interest rate rises putting additional pressure on households’ finances.

Charities and financial experts said it was “unacceptable” that so many people had lost their homes.

The Government claims schemes put in place to help borrowers in financial difficulty have helped 330,000 families stay in their homes. However, figures suggest only 92 families completed the Mortgage Rescue Scheme, where eligible families can either get an equity loan to reduce their mortgage, or sell their home and remain as tenants.

It comes as lenders are criticized for continuing to offer the best deals to those with a significant deposit.

Figures by personal finance website Moneyfacts suggested borrowers with deposits of just 5 per cent pay £4,728 more on an average two year fixed rate deal compared to those with a 25 per cent deposit. This is based on borrowers looking for a mortgage of £150,000.

The CML also revealed a sharp decline in the number of mortgages for landlords.

It said 93,000 buy-to-loans were approved last year, down 58 per cent on the previous year’s 222,700 and the lowest annual figure since 2001.

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Labels: consolidate debt loans, home loans, Loan calculator, loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 3:09 PM 0 comments links to this post

Money may make the world go round but money is also the nation's biggest worry.

More than eight out of 10 people said they are experiencing some kind of worry, consumer analysts Mintel found.

And one in five admit to turning to drink when stressed, while more than one in 10 light up a cigarette, the survey of 2,000 people found.

The top five concerns were money (40 per cent), problems with friends and family members (25 per cent), health (24 per cent), stress at work (22 per cent) and job security (21 per cent).

And the top five ways of dealing with stress were socialising with friends and family (54 per cent), listening to music or reading a book (40 per cent), exercise (33 per cent), talking to people about how they feel (32 per cent) and spending one-on-one time with a partner (22 per cent).

'The fact that over half of us turns to our family and friends in times of trouble, compared to just 6 per cent who go to a professional, highlights the extent of the stigma attached to seeking professional help to deal with stress.

While one in four men turn to drink in times of worry, less than one in five women drown their sorrows in alcohol.

But women are more likely to turn to comfort foods than men.

And on the whole, it is the fairer sex that is likely to be more stressed out, with more than one in 10 saying they had five or more worries, compared to just one in 14 men.

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Labels: credit crunch, home loans, Loan calculator, loans, sub, uk recession

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:09 PM 0 comments links to this post

New borrowing on credit cards, loans and overdrafts has outstripped the amount being paid back by UK consumers for the first time since June last year.

Unsecured consumer credit rose £52m in December, driven by credit card borrowing, the Bank of England said.

The number of mortgages approved for house purchases dipped slightly compared with November, to 59,023.

This was still higher than the average of the past six months, when the housing and mortgage markets picked up.

The trend during the downturn has been for consumers to pay off debts, often instead of saving when interest rates are so low.

For five consecutive months, repayments outstripped new unsecured consumer credit. However, in December, the trend reversed, the Bank of England's figures show.

This was primarily the result of borrowing on credit cards, which rose by £195m. Demand for personal loans and overdrafts remained low, with repayments outstripping new borrowing by £143m.

Total net lending to individuals rose by £1.2bn in December, double the average of the previous six months. The vast majority of lending is in the form of mortgages.

The number of people remortgaging rose slightly - to 27,276. This was still a traditionally low level as people chose to benefit from low interest rates by staying on their mortgage provider's variable rate when their fixed-rate deal came to an end.

The Bank rate is widely expected to remain at record lows for some months.

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Labels: Bank of England, credit crunch, home loans, Loan calculator, loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:09 AM 0 comments links to this post

UK bank personal loan rates have climbed to a nine year high because of a rise in bad debts as borrowers fail to meet their loans repayments.

Experts said banks are increasing rates to recoup the losses stemming from defaults on loans.

Rising unemployment during the recession saw households struggling to meet the repayments on their debt.

The best rate currently available on a three year loan of £5,000 is almost 9 per cent – or nearly £160 – a month, according to personal finance website Moneyfacts.

It is in sharp contrast to rates of almost half that amount before the beginning of the credit crisis in 2007.

The rise comes despite the Bank of England keeping interest rates at a historic low of 0.5 per cent for the past year.

Rates were last at their current level nine years ago when the Bank Rate was a much higher 6 per cent, meaning banks have significantly increased their profit margins on personal loans.

The average rate today on a personal loan is even higher at 12.4 per cent.

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Labels: credit crunch, loans, sub prime loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:03 AM 0 comments links to this post

Lenders and borrowers have been issued with draft guidance about when their loans may, or may not be enforced by the OFT.

The Office of Fair Trading (OFT) said it was worried that some debtors were being misled about their ability to get their debts written off.

Thousands of claims have been launched in the past couple of years, against lenders, by borrowers trying to avoid repaying their debts.

The draft guidance focuses on the rules laid down by the Consumer Credit Act.

The OFT's guidance draws on recent rulings by Judge Waksman at the High Court in Manchester.

He confirmed that it was acceptable for lenders to produce reconstituted copies of original loan agreements, for the purposes of providing the borrower with information about their loan.

The OFT said: "Some debtors are being misled into thinking that these sections [of the Consumer Credit Act] can be used to get their debts written off and that some creditors are not following legal obligations to provide information to customers.

"The lender is allowed to provide a reconstituted agreement, as long as that version is accurate and contains all the original information apart from the few exceptions that the law allows (which include the signature, signature box and date of signature)."

The authorities have been worried that some claims management companies have been drumming up business by exaggerating the chance of clients getting their debts cancelled.

Claimants have typically sought to achieve this by challenging their lenders to meet the strict requirements of the Consumer Credit Act.

One of these is that lenders have to produce a "true copy" of the loan agreement within 12 days of being asked.

If a legible true copy cannot be produced then the loan is temporarily unenforceable, by way of a county court judgement, until such time as a copy can be found.

Some claims management companies have argued that the debts are permanently unenforceable in these circumstances.

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Labels: credit crunch, home loans, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 9:50 AM 0 comments links to this post

UK Consumers who buy goods and services with a debit card could be offered the same protection as those who use a credit card.

Some shoppers are losing out on hundreds of pounds each year because they have been caught out by unscrupulous internet retailers, companies going bust or just plain poor service.

Consumer Focus, the Government's consumer watchdog, said these shoppers could avoid being out of pocket if they used credit cards, but many shoppers do not like buying goods on credit. And the only way to pay for goods bought over the internet, if you do not like using credit cards, is with a debit card.

The Government has now hinted that it might tighten the rules to give greater protection to those shoppers that use debit cards, as part of a shake-up of the card industry.

The Government is reviewing the industry and Tuesday 19 January was the deadline for parties to submit their ideas of how to improve credit cards. Any changes accepted by the Government are likely to be announced next month.

A spokesman for the Department for Business, Innovation and Skills said: "We are aware consumers have concerns about their rights when using different types of cards. That is why we are looking at this issue very carefully and will be announcing our views in the New Year."

Any change would be a major victory for consumers.

According to Consumer Focus, over the last year, one in ten consumers has been failed to get something they had paid for in advance – with less than half of the people not getting their money back. Those that have been ripped off have been out of pocket to the tune of £242, on average.

Under the 1976 Consumer Credit Act, the credit card company is jointly responsible – along with the retailer – for the quality of goods and services. This means anything between £100 to £30,000 will be covered by the credit card company if it arrives faulty or fails to arrive.

However, people buying goods on debit cards enjoy none of these rights and are left in a particularly weak position if an internet retailer goes bust.

Banks argue that it would be very expensive to offer consumers the same rights with debit cards. Credit card providers can only afford to cover the value of faulty goods up to £30,000 because they charge customers a large annual percentage rate. Debit cards are free in the great majority of cases.

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Labels: credit crunch, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:03 PM 0 comments links to this post

Credit cards are the number one source of outrageously high interest debt in this country and also the number one candidate for debt consolidation.

Before the credit crunch, it was all too easy for most of us to obtain as many credit cards as we could pack into our wallets.

Constantly bombarded with teaser rates and unsolicited junk mail offering huge lines of credit, perhaps you have more than enoughcredit cards and less than enough money to meet the financial obligation of paying these cards each month.

If you are like most Britons, you can barely keep up with the minimum monthly payments on your many credit cards. By choosing debt consolidation for your credit card debt and other debts, you can save yourself an untold amount of interest charges and finally pay off your credit cards for good.

In Britain, we have become a society that loves to use credit for everything, and many of us have been living outside of our means for awhile now. Credit card companies use predatory tactics to lure consumers into thinking they are getting a great deal on their next new credit card by offering teaser rates that usually start out at zero percent or one percent, and then quickly balloon up to fifteen percent or higher once the introductory period of several months have passed.

If you are late with one payment, even by a few days, tiny print in the terms and conditions of many cards will tell you that your new interest rate will be the default rate, which is typically 19.99%.

This amounts to outrageous interest charges and in many cases, the minimum monthly payment that most consumers make on their credit cards does not include any of the principle balance owed, but is just interest.

How can the consumer get out of debt by paying only the interest on their credit cards each month? Simply put, it is not possible. Debt consolidation, however, can allow you to pay off your credit cards in full and put a halt to this ridiculous interest that is keeping you weighted down with burdensome debt.

With debt consolidation, you can pay off all of your existing debts at once, including your credit cards. You can also include personal loans, department store charge cards, gasoline cards, automobile loans, and private student loans.

By rolling all of your existing debt into one big debt, you save a ton of interest charges because your newdebt consolidation will be written, typically, at a much lower rate. The amount that you will be required to pay each month with debt consolidation is generally much less than the total amount that you were paying your previous lenders combined. Most terms of debt consolidation run five years or less, which means that you can pay off everything you owe fast.

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Labels: consolidate debt loans, credit crunch, Loan calculator, loans, loans rates, sub prime loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 6:04 PM 0 comments links to this post

Even a £100 loan can turn into a monster debt if you don't pay it back on time.

Short term loan firms will be expecting a bumper month as the post Christmas debt blues take their toll.

Instant cash following a couple of quick text messages can help tide you over until payday, but the costs can quickly mount up.

However, relying on this type of service on a regular basis can be a very dangerous way of borrowing.

Repaying £110 on a £100 loan may sound harmless enough but it may actually equate to an interest rate of 994 per cent APR.

You are may also be charged a £1 handling fee for each text sent as well as a one-off £1 fee for the initial registration. More importantly, if you fail to pay back the loan within seven days, the costs can spiral in a matter of days.

If your credit rating is OK, it's far cheaper to borrow on an agreed overdraft from your bank, although not on an unauthorised overdraft. The Alliance & Leicester Premier Account offers a 12-month overdraft at 0 per cent interest as long as you pay in £500 per month, although watch out if you breach the authorised overdraft limits and face penalty fees of £5 per day, up to a maximum of £100.

Some bank accounts also have a buffer zone, allowing you to go overdrawn by a small amount without paying any interest; NatWest, for example, has a £15 buffer, whilst HSBC's buffer is £10.

Alternatively, look for a low-rate credit card such as the Barclaycard Simplicity Visa, which charges just 6.8 per cent, or take advantage of cards with introductory bonuses. The best buy for new spending is the Tesco Clubcard Credit Card, which gives 12 months interest free, followed by 16.9 per cent APR. Otherwise, there are credit cards aimed specifically at those with tarnished credit records.

For anyone struggling because they haven't yet built up a credit rating, the Barclaycard Initial charges 27.9 per cent APR. The Capital One Classic card charges 34.9 per cent and is open to people with County Court Judgments, and for sub-prime borrowers, the Aqua Mastercard charges from up to 39.9 per cent, and the Vanquis Bank Visa charges up to 59.9 per cent.

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Labels: credit crunch, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 5:53 PM 0 comments links to this post

A committee of MPs has recommended an investigation into whether consumers are being penalised for shopping around for loans.

The report by the Treasury Committee failed to give any strong indication as to whether any changes should be made in the market.

Consumer groups argue that multiple searches affect the rates that people might be charged. But providers said information was shared between lenders to stop fraud.

The committee heard evidence in late October that shopping around for loans could affect people's credit ratings. This meant some missed out on credit or were put off shopping around.

However, the committee reported that it had not been given "overwhelming evidence that it is a major source of direct consumer detriment".

But it had also not been presented with "unequivocal evidence" that credit searches were essential for loan providers.

The committee called on the Office of Fair Trading to investigate the market, and for the Information Commissioner to look into whether the £2 fee charged to people who wanted to access their credit file was reasonable.

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Labels: consolidate debt loans, home loans, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:11 AM 0 comments links to this post

UK banks are being accused of profiteering as they increase the amount they charge for personal loans and limit the best deals to existing customers.

The cost of a best buy £5,000 loan has risen 1.54 per cent since the beginning of the year to 10.78 per cent despite interest rates being at a historic low of just 0.5 per cent.

The rise means customers will spend £162 a month over three years repaying the loan, or an extra £120 over the lifetime of the deal compared to last January.

The Bank of England disclosed last week that non-mortgage or credit card based lending fell by £0.7 billion in October, but experts said the decline was expected given the restricted choice of loans available.

A spokesman for the British Bankers’ Association, said: “We have also seen the average rates for personal loans increase across the board so consumers who are lucky enough to be accepted for a loan have to pay more too.”

“The UK economy has changed considerably since the credit crunch began and it is still changing. Lenders price their loans according to the economic factors of the time, and although there is still aggressive competition for customers, there are also harsh economic realities they have to deal with.

“They still have to fund their loans using a mix of wholesale money and customers’ deposits, and neither of these options is open to them at anything like the Bank of England’s base rate.”

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Labels: Bank of England, home loans, interest rates, Loan calculator, loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 1:51 PM 0 comments links to this post

Each September the student loans rate changes, based on the Retail Price Index (RPI) rate from the previous March.

This March’s RPI was -0.4% however most students who could have expected to see student loan balances reduced in line with this will be disappointed. Only students who took out their loan pre 2008 will actually see their balances reduced by 0.4%. For students who took out the loan post 2008 the rate will be dropped from 1.5% to 0% this September.

As student loans were meant to linked to inflation, and this principle is not been followed, those students who took the loan out after 2008 are now out of pocket as their purchasing power is dilapidated. The monthly payments for students will remain at the same rate, as borrowers are required to pay back nine percent of their earnings over £15,000; so as the interest rate has been reduced to zero, the balance will reduce at a greater rate.

This is still not good enough for some students who believe that the principle should apply and that they should therefore benefit from this deflationary period by seeing the balances automatically reduced.

Deflation is now even higher than in March, sub one percent, so applying this principle to all student loans could put even more pressure on the economy in recession and the whole student loans system, as it could see the taxpayer funding further, greater reductions next year, and who knows about years to come.

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Labels: consolidate debt loans, credit crunch, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:48 AM 0 comments links to this post

Loans comparison websites, used by millions of consumers every month, are "misleading" because they give greater prominence to companies willing to pay their fees, according to industry experts.

They warn that families who rely on these websites could miss out on hundreds of pounds on the best credit card and loans deals.

Price comparison websites have increased in popularity during the recession as consumers use them to hunt down the best possible deals, with over 22 million people using one of these sites in the last three month.

However, many consumers do not realise that comparison sites make their money by earning a commission every time a consumer "clicks through" to a financial service provider's website to apply for a bank account, loan or insurance product.

On average the commission equates to about £40 for an insurance deal, with it rising to £150 on the most profitable loans. Some price comparison sites only list a selection of deals, excluding those companies that will not pay a commission.

The majority of sites attempt to list all providers, regardless of whether they pay a commission, but do not display the commission-free deals on their home page, or they make it quite difficult to find the commission-free deals.

Because most of the sites refuse to list deals that will not pay a fee on their home page it is very difficult for consumers to see the best possible deals.

For instance, one of the highest rates available on an easy access savings account with a £10,000 minimum deposit is The Ulster Bank's Pathway account, paying 3.6 per cent for the first six months.

However, it is not listed on the first page of Moneysupermarket.com's easy access accounts or uSwitch's initial search results for instant access accounts.

The deal is on both of these comparison sites, but consumers need to unclick the "accounts available on uSwitch" before it appears and users need to exit the "best sellers page" on moneysupermarket and conduct a full search. Even after doing that, users need to scroll down past the "sponsored products" to the "full results" to see it.

The Financial Services Authority has given comparison websites a clean bill of health, but the Office of Fair Trading earlier this year started an investigation to ascertain whether consumers were being misled.

It is understood that the OFT has concerns that the sites too often skew certain aspects of a deal – such as high excess amounts on insurance deals – in order to present some products in the most appealing light.

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Labels: credit crunch, Loan calculator, loans, loans rates, sub prime loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 2:09 PM 0 comments links to this post

Lenders must not mislead borrowers that their debts are enforceable, when in fact they are not, the Office of Fair Trading (OFT) says.

The regulator also says many debtors have, in turn, been misled about their ability to escape their debts.

The OFT's comments are part of an intervention in a series of High Court test cases about the enforceability of debts under the Consumer Credit Act.

The outcome could affect thousands of potential courts cases.

The OFT has supplied its draft guidance on part of the Consumer Credit Act (CCA) to Judge Waksman, who is hearing the cases in Manchester.

"The OFT's decision to prepare guidance at this time has primarily resulted from our concern that debtors are being misled as to the meaning and interpretation of sections 77-79 [of the Act] in particular," the OFT said in a letter to the judge.

"And on the other hand concern that some creditors appear not to understand the nature and extent of their obligations under these sections," it added.

The 12 test cases at the High Court in Manchester are aimed at settling a number of contentious issues about the interpretation of the law.

The general position is that lenders who wish to chase defaulting borrowers for the repayment of their loans have to comply with a number of obligations.

One of them is that under sections 77-79 of the Act they should supply a "true copy" of the original signed loan agreement within 12 days of the borrower asking for it. If they do not then the debt is unenforceable until such time as the copy can be provided.

"Unfortunately, consumers have often been given an exaggerated expectation of what the creditor or owner must do in order to comply with an information request, as a result of misleading claims by claims management companies and inaccurate information on the internet," the OFT's draft guidance says.

"As a result, numerous disputes have been generated over whether a request has properly been made, whether the duties have been complied with and whether as a consequence the agreement can be enforced," the OFT adds.

The OFT's guidance clearly disagrees with some of the arguments that have been put forward by some claims management companies on behalf of their clients.

In particular, the regulator points out that it is perfectly legal and proper for a bank that has lost the original loan agreement, or whose copy is illegible, to supply an accurate "reconstituted" version instead, to show that the agreement did in fact include the information specified by the Act.

"It is important to remember that the purpose of these sections is to provide information to consumers, not to provide a method for consumers to avoid paying their debts," the OFT says.

But the OFT goes on to advise that lenders would be acting unfairly, and potentially in breach of their consumer credit licenses, if they misled borrowers by:
• hiding or disguising the fact that there was never a proper signed agreement in the first place
• providing only a copy of the current terms and conditions, not the original ones
• confusing the borrower as to who they should send an information request after selling the debt to a debt collection company
• failing to preserve data so the borrower cannot be given an up to date statement of account.

A recent High Court case, between Philip McGuffick and the Royal Bank of Scotland, established that even if a debt is temporarily unenforceable, the lender can still mark a customer's record with a credit reference agency as being in default, because the debt itself has not been extinguished.

The OFT agrees with this, but its draft guidance goes against the grain of other conclusions of that case.

The judge said it was legal for lenders to take other steps to get their money back, such as demanding repayment of the loan, issuing a default notice, threatening legal action, and even starting legal proceedings.

But the OFT said it might take a dim view of these tactics.

"For the purposes of considering whether a company is fit to hold a consumer credit licence, the OFT can take into account any practices which we consider to be oppressive, misleading or improper, whether they are unlawful or not," an OFT official said.

The OFT's draft guidance says: "No communications or requests for payment should in any way threaten court action or other enforcement of the debt where the creditor or owner is aware that it cannot and will not be entitled so to enforce the agreement."

"The creditor or owner should make it clear in communications to the debtor that the debt is in fact unenforceable," it adds.

The guidance goes on to warn that: "To mislead debtors into making payment may in certain circumstances amount to an unfair commercial practice under the Consumer Protection from Unfair Trading Regulations 2008."

The OFT has delayed publication of its draft guidance until the outcome of the Manchester High Court hearings, whose judgements are expected to be delivered in January 2010.

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Labels: Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 11:52 AM 0 comments links to this post

The number of people contacting Citizens Advice for help with debts soared by a fifth during 2009.

The charity said it dealt with 573,000 inquiries from people struggling to keep up with their borrowing during the three months to the end of September, 21pc more than during the same period of the previous year.

Debt problems are now the single biggest topic on which it offers advice and the charity has handled 3.06 million inquiries on the subject since the beginning of the recession in April last year.

Benefits account for the second most common issue on which people need help at 2.71 million, followed by employment and housing problems at 844,000 and 633,000 respectively.

There was a 28pc jump in people contacting the charity because they had fallen behind with their mortgage or a secured loan during the third quarter, compared with the same period of 2008, while there was a 38pc rise in people with fuel debts.

The number of benefit problems the charity dealt with were 21pc higher than a year ago, while employment problems are up by 17pc year-on-year.

The group is urging people to budget carefully over Christmas, to avoid starting 2010 with a debt hangover.

It is distributing leaflets giving people guidance on how to budget for the festive season.

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# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:21 AM 0 comments links to this post

Consumer borrowing - excluding mortgages - recorded its biggest month on month fall since Bank of England records began in 1993.

This adds further evidence to the likely trend of people paying off loans rather than saving more during a time of low interest rates.

Unsecured loans fell by £713m in October compared with September.

But the number of mortgages approved for house purchases rose for the 11th month in a row in October.

The number of homeowners remortgaging remains subdued.

Debts repaid

Borrowing on credit cards rose by £134m in October compared with September, but was more than offset by the record fall of £713m in other forms of consumer credit such as bank loans, loans for cars, and hire purchase agreements.

It was the fourth month in a row that people repaid more than they took out in non mortgage borrowing.

The total stock of outstanding unsecured loans stood at £228bn - a similar level to January 2008.

Separate figures from the Building Societies Association (BSA) showed that there was a net outflow of savers' funds for the eighth consecutive month.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, loans, refinancing rates, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:03 PM 0 comments links to this post

With the credit crunch it's easy to make mistakes balancing finances- but the effects could be even worse.

Pressing credit cards bills, mortgage payments and direct debits all combine too frequently whilst the income payments seem to get lower or take longer than needed.

We are all aware of the cliche "desperate times call for desperate measures" but we do not want our desperation to make the situation even worse for us. Do not trust "quick fix" method because it may only lead you even more buried in debt. In turn, your credit score will even be pulled lower than it already is. This may prevent you from recovering from your debt, ever.

It is important that you recognize scams. There are legitimate creditors who do offer to get you out of debt but they would never promise anything in advance. Scams usually promise to clean your debt instantly or very quickly for a fee. They pose as legitimate credit report service that will only take hundreds of your money and vanish. They pose ads on television, radio and the newspaper. They never tell you much and sometimes, they will only advise you to file for bankruptcy after you pay them.

Since there are legitimate companies who do offer to repair your credit, what you can do is watch for the telltale signs that what you are responding to is a fraud. Most fraudulent credit report service will want you to pay their offered services even before they act on it. They would never advise you of your legal rights and if they do, they would omit some important details because they are only doing it for a show. After all, they would like to convince you that they are legitimate.

Once you tell them to "fix my credit score" they would not recommend that you contact a credit bureau directly but they would offer to do it for you. Sometimes, they would suggest that you make up a "new" report by applying for a different Employer Identification Number instead of your Social Security number.

They would even advise that you dispute everything in your report or go to the extreme of creating a new credit identity. Creating a new identity is illegal and you will commit fraud if you do. This will only subject you to prosecution if you are caught. Do everything the legal way.

If you would like some free, friendly finance help, please just click here now.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, home loans, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 9:32 AM 0 comments links to this post

Nearly anyone is susceptible to get behind on their monthly payments and obligations to lenders, which is when a fresh start loan can be of the maximum benefit for most borrowers.

Perhaps you have experienced a recent illness, injury, or even death in the family and have gotten behind on your bills. No matter what reason you have for finding yourself in arrearage on your bills, a debt consolidation loan can allow you to pay off your existing creditors and avoid bankruptcy or even foreclosure.

When a borrower gets behind on their loan payments, credit card payments, or other bills, what follows is never pretty. It seems that a constant and persistent stream of calls from creditors becomes very intrusive and can be very stressful. To make matters worse, interest charges continue to accumulate on the bills that you have due, or your accounts are subject to late payment penalties or other charges.

For more information on debt consolidation loans, please click here now

A debt consolidation loan will allow you to put all of these dreadful circumstances into the past by allowing you to combine all of the current payments and debts that you owe into a single loan that features one easy-to-handle monthly payment that is based on your ability to repay your creditors.

Finances are usually written for £25,000 or less, but can be more depending on your particular needs and your financial situation at the time of the application for consolidation.

The process of receiving your finance is a streamlined and expedient one in most instances. Many borrowers are happy to find that within just a week or so, they have completed the loan application process and received funding to get a fresh start.

The payment that you will be required to make will be less than the total of the combined payments you are making to many lenders right now, which allows you to keep more of the income that you bring home from your job to take care of the many expenses of life (without running up more credit card or loan debt).

Your finance can be secured or unsecured, and the type that you take can have a big impact on the amount of interest that you will be charged for the life of your loan. The secured debt consolidation loan (collateral required) is the cheaper of the two types of loans for borrowers with all types of credit. The unsecured debt consolidation loan (no collateral is required) is more expensive in terms of interest.

The secured debt consolidation loan is usually the best choice for homeowners who want to save money on interest charges. The unsecured debt consolidation loan is the ideal loan instrument for those borrowers who do not wish to risk their assets to secure funding for the loan, or for those who do not own their own home or other asset of value.

For more information on debt consolidation loans, please click here now

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, credit crunch, home loans, Loan calculator, loans, sub prime loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:03 PM 0 comments links to this post

UK consumers lack trust in loans comparison websites with one in four people saying they have been able to find better value financial products elsewhere, a survey has found.

Only three out of 10 people said they trusted the sites, which give quotes on products such as insurance, credit cards and mortgages, to find the best price available for them, according to Which? Money.

Two thirds of those questioned also thought they would be presented with the products that would make the websites the most money through commission. One in four people said they did not go on to buy through the sites because they had been able to find a cheaper quote themselves.

Overall, the survey found that none of the comparison sites scored a customer satisfaction rating of more than 50 per cent, lower than for any other financial product or service the group looks at.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: Loan calculator, loans, loans rates, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 2:50 PM 0 comments links to this post

Three quarters of universities in England have been forced to bail out students following huge delays to loans and grants.

On average, institutions have paid £44,000 each in emergency funding to students left without money for rent, books and food.

Tens of thousands are still waiting for their first maintenance payments as the Student Loans Company (SLC) struggles to cope with record demand for funding.

Applications are believed to have been fuelled by the recession and a growth in the number of students starting university in 2009.

The BBC surveyed 58 universities and found 49 had been forced to make more hardship payments this term compared with the same period in 2008. Some 43 institutions attributed the rise to the loans crisis.

Portsmouth University has paid £80,000 to students waiting for loans and grants.

John Craven, vice-chancellor, said: "We are angry on behalf of our students who have been badly hit by this.”

Labour ministers ordered an inquiry after almost 150,000 students who had applications approved were left without funding at the start of the new academic term.

Quite how this incompetence will effect brown's chances of selling off the SLC remains to be seen.

The Student Loans Company processes payments for loans and grants. It is the first time grants have been handled by the SLC instead of local authorities.

Data published last week revealed 119,000 students who had their applications approved were still waiting for their first maintenance payments.

The National Union of Students has called for Ralph Seymour-Jackson, the company’s chief executive, to resign.

Sally Hunt, general secretary of the University and College Union, said: “It is totally unacceptable that so many students are still waiting to receive money, particularly first year students.

Universities are providing help where they can and it is vital students seek financial help and guidance from their institution and students’ union, as we have real concerns about the loan sharks that are circling around some universities."

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 2:44 PM 0 comments links to this post

UK shoppers are being warned against using expensive store cards as figures show worst offenders charge as much as 31 per cent APR, compared with 17 per cent on credit cards.

The research by consumer group Which? criticized both the “unnecessarily high” rates of interest and the easy access to store cards.

Its study suggested an indebted graduate was able to secure almost £3,000 of debt from half a dozen stores, despite earnings of less than £1,000 this year.

Store cards usually offer lower credit limits than traditional credit cards, but come with very high interest rates. And, unlike credit cards, which are given out by banks and their staff, they are handed out by retail staff in high street stores.

There are almost 15 million store cards in circulation, with around £3 billion worth of transactions made on them, according to the Finance and Leasing Association.

It called for tighter checks on customers, saying retailers should share relevant details and work more closely with credit-reference agencies to ensure they know their customer before they agree to lend to them.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, loans rates, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 2:40 PM 0 comments links to this post

Bad credit card debt loans may reach as much as 9% of all outstanding balances by the end of next year, an accountancy firm has said.

"Bad debts in the sector have reached historic highs," according to PricewaterhouseCoopers (PwC). The figure stands at about 6% now.

This comes despite a "cooling passion" for credit cards, with borrowing down 3% to £64bn in the past year. The number of credit cards in circulation has fallen by 8%, it said.

The past year has been a "tipping point" for the willingness of people to take on more unsecured debt, PwC said in the latest edition of its annual report "Precious Plastic".

Total consumer debt including mortgages stayed the same at just under £1.5 trillion.

Within that, unsecured lending via credit cards, bank loans and hire purchase agreements was largely unchanged at £230bn.

But the stock of debt outstanding just on credit cards fell.

PwC pointed out that this new declining trend reflected not only consumer choice, but the decision of card companies to restrict new lending to customers who are more creditworthy.

"The recent announcement by one major issuer that they would not generally seek to acquire new credit card customers without those same customers also holding a current account with them is in stark contrast to the time when credit card issuers accounted for one in every four pieces of junk mail that made it through our letterboxes," PwC said.

The accountancy firm forecast that as bad debts rose, the borrowing rates on cards would also go up, and monthly or annual fees would become a standard feature as lenders sought to increase their revenue.

"At the higher end of the market customers will pay for access to premium benefits and at the lower end more marginal customers will be expected to pay for even a standard credit card," the firm said.

PwC's report warned that while UK consumers were now borrowing less than before the financial crisis, debt levels in the UK remained high compared with the rest of Europe.

Each UK household has total average debt of about £60,000, made up of about £50,000 of secured debt and £10,000 of unsecured debt, PwC said.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, home loans, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:54 AM 0 comments links to this post

The Bank of England’s monetary policy committee voted today to expand its vast programme to pump cash into the UK economy by £25bn, in a sign that it remains worried about the outlook in spite of incipient signs of recovery.

The move to increase “quantitative easing” – creating money in order to boost spending – from the existing £175bn used had been widely expected by economists after official figures suggested the UK remained mired in recession in the third quarter.

However, the addition of a further £25bn to the programme, which is likely to be used mostly to buy government debt, signals a slowing down in the pace of the Bank’s pace of monetary easing. In August the Bank had opted to expand the programme by £50bn, which has been used up over the last three months.

The additional £25bn in quantitative easing will take the total programme undertaken by the Bank to £200bn. The new money will be spent over the next three months.

The MPC said that the world economy had “shown signs of recovery” and that asset prices had risen internationally, “reflecting both the gradual improvement in the economic climate and accommodative monetary policies.”

In the UK, it said that although the third quarter had registered a continued contraction in the economy “a number of indicators of spending and confidence, however, suggest that a pickup in economic activity may soon be evident.”

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: Bank of England, credit crunch, loans, Quantitative Easing, UK loans rates, uk recession

# posted by Dr Search- Principal Consultant at the Search Clinic @ 1:04 PM 0 comments links to this post

The Federal Reserve Board has kept US interest rates on hold at between 0% and 0.25%, as had been widely expected.

Despite the US economy growing 3.5% in July to September - its first expansion since June 2008 - rates were left unchanged to further aid the recovery.

The Fed reiterated its view that rates would need to stay at the historic low for an "extended period".

While economic activity had "continued to pick up", it said high unemployment remained a concern.

The most recent official jobless rate totalled 9.8% in September, a 26-year high.

Analysts have also cautioned that the economic expansion between July and September was greatly helped by President Obama's $787bn (£480bn) stimulus package, with some fearing that growth will slow markedly when this impetus comes to an end.

One of the most successful parts of the stimulus spending was the $3bn "cash for clunkers" car scrappage scheme, which gave people who traded in old cars $3,500 towards the cost of a new vehicle.

This initiative operated in July and August, giving US car sales a major boost in both months. Car sales subsequently fell sharply in September after the scheme had concluded.

US interest rates were cut to the current level of between 0% and 0.25% in December last year, where they have remained ever since.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, interest rates, loans, US loans rates, US mortgage rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 12:54 PM 0 comments links to this post

Do you have a debt problem- or do you think you’ve not got a debt problem - but then again, you may be in denial! Here's how to tell:

These days, most of us have some form of debt to deal with - whether it's a loan, a credit card, or an overdraft. But the big question is, at what point does that debt become a serious problem?

If you're just about managing financially, you might not think you have a debt problem.

But if your finances are a bit of a mess and if you, even occasionally, struggle to keep up with your debt payments, this could indicate that your debt is a bigger issue than you realise.

Facing up to these problems can be really hard. And it can seem far easier to simply ignore the problem, shove your bills in a cupboard somewhere, and hope it will all go away.

Unfortunately, it doesn't work like that, and the longer you ignore your debt problem, the worse it will get.

So here are the top 10 warning signs that your debts could be spiralling out of control.

1) You're only paying the minimum monthly repayment on your credit cards

Minimum monthly repayments are typically set at ridiculously low levels. This means that if you're only managing to pay this amount, it's going to take you a long time to pay off your credit card debt in full. Not only that, but you'll end up paying far more in interest before you clear your balance.

2) You don't know how much you owe and you don't want to find out

If you've lost track of how much you owe and have no idea how you ended up in debt, you're probably overspending. Losing track of what you're spending where is not a good idea, especially if you're spending large amounts. It indicates you've really got no control over your finances.

3) You're borrowing more to pay off your debts

Borrowing more and getting further into debt to meet your other debt payments is a dangerous path to follow - particularly if you're using payday loans, logbook loans or credit card cheques.

Equally, if you're taking money out on your credit card just to cover monthly payments on other debts, you could find yourself in serious trouble in the future. Find out more in Six dangerous ways to borrow.

4) You're spending more than you earn

If you have no idea what your budget is and you're spending more than you earn each month, or you're not sure whether your salary is covering your expenses, you could be in serious trouble.

5) You use your credit card to pay for everyday spending

If you regularly use your credit card to pay for necessities such as food or petrol and can't afford to clear the balance each month, your debts will continue to build up and put more strain on your finances.

6) You're regularly late paying bills

If you regularly fail to make your bill payments on time, your cheques bounce, or you overspend on your credit card or overdraft, you'll incur extra fees and charges from your bank. This will drive you further into debt and could also damage your credit rating.

7) You don't have any savings

If you're unable to put even a little money aside into a savings account each month because your debts are too high, that's not a good sign. Having said that, it is usually wise to pay off your debts before starting to save - so it's the right strategy, but don't be blase about it: it's a sign that you are struggling.

8) You find it hard to talk about your situation

If you find it difficult to be honest with your friends and family about your debt problems, or you're lying to them about your spending habits, you could be in denial about your debt.

9) You've been rejected for credit

This could be because you've already got too many credit cards - even if you no longer use them - or because you've missed payments in the past. All of this can damage your credit rating. Find out more in What REALLY damages your credit rating.

10) You're constantly worried about your finances

Recent research from talkaboutdebt.co.uk has revealed that 61% of people in serious debt aren't sleeping due to debt stress, and 29% have taken up to six months off work. If your money problems are affecting your working life, leisure time, and how you sleep, it's time to seek help.

Help yourself

If any of the situations outlined above apply to you, you're probably feeling concerned. Debt can have a serious impact on your life, but the important thing to remember is that you don't have to deal with it on your own.

Simply talking about your financial problems with your friends and family can feel like a huge weight has been lifted off your shoulders. What's more, it's a big step in helping you to face up to your debt problem.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, Loan calculator, loans, refinancing rates, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 12:21 PM 0 comments links to this post

Consumers shopping around for the best loan rates could be penalised if their credit rating reflects multiple applications, MPs have been told.

As part of their investigation into the issue the Treasury Select Committee was told that people who made several attempts to get a deal for a loan or credit card could hurt their credit score.

Banks and building societies are increasingly using so-called risk-based pricing, whereby rates are tailored to an individual borrower's circumstances.

But this means the consumer will find out what the price is only after a credit check has been completed. Each search could be logged on a person's credit file, potentially giving other lenders the impression they have applied for many products and been rejected.

Representatives from the industry said the record of multiple loan applications – rather than just successful deals – enabled firms to flag up issues such as high indebtedness or fraud.

But Martin Lewis, of MoneySavingExpert.com, told the panel that some consumers were forced into making several applications after finding they were not eligible for lenders' advertised rates.

He submitted case studies to the committee which included a consumer who said they had applied for a loan at a rate of 9pc but were actually offered one for 30pc. This, he argued, contributed to customers declining to take up one loan and applying for others, but by doing so he said their credit rating might be affected.

"The system is designed to stop shopping around at the detriment of consumer choice," he said.

The committee heard from industry members that legislation requires lenders to advertise an APR rate that 66pc of those taking up the deal will be able to receive.

The remaining customers – a third of those taking up the loan – were potentially paying a higher rate.

Not all lenders use the sorts of checks that would show up on a credit report. Nationwide for example has a policy of using only the softer touch surveys, while Barclaycard enables people to find out if they would qualify for one of its cards without having to make a full application.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, loans, loans rates, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 11:08 AM 0 comments links to this post

London equities failed to hold gains on Monday, as financial stocks around the world fell after reports the US authorities prepared to unveil plans that would make it easier for the government to seize control of failing financial institutions.

The news hit sentiment toward the sector, and sent shares in the UK nationalised banks to the bottom of the FTSE 100.

Overall, London’s benchmark index fell 48 points to 5,194.25, a loss of 0.9 per cent. Lloyds Banking Group was its biggest single casualty, down 6.3 per cent to 90.2p. Royal Bank of scotland fell 5.1 per cent to 44.7p.

Shares have lost some direction over recent weeks as investors have started to worry that the gains seen since the first part of the year have got ahead of the economic recovery.

Bid activity on the continent helped Cable & Wireless move to the top of the leaderboard.

Cable and Wireless was 3.3 per cent higher at 145.7p, the best single performer on the FTSE 100.

British Airways was lower on news that European regulators were considering forcing the sale of take-off and landing slots should its transatlantic tie-up with American Airlines and Spain’s Iberia go ahead. Shares in BA lost 2.4 per cent to 204.8p.

Shares in McBride topped the FTSE 250 after the maker of own-label branded goods for supermarkets said it had performed ahead of expectations in the first half. The stock rose 10.9 per cent to 221.2p..

As confidence in the prospect for a swift and sustained global economic rebound faltered, mining stocks lost intraday gains. Among them, Kazakhmys was 2.3 per cent weaker at £12.65.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 7:31 PM 0 comments links to this post

Halifax and Bank of Scotland customers who use an agreed overdraft are to be charged an interest rate of the equivalent to 365 per cent.

The change means customers with arranged overdrafts of up to £2,500 will be charged at £1 a day and those with arranged overdrafts of more than £2,500 will be hit with a fee of £2 a day.

Customers are being notified of the changes which come into effect on December 6.

Dominic Lindley, Which? personal finance campaigner, said: “This is bad news for any Halifax and Bank of Scotland customers who regularly use their overdraft as it’s effectively a big hike in charges. If you’re overdrawn by £100, a £1 a day charge is equivalent to 365 per cent.

“Anyone who’s unhappy with the new charging structure should vote with their feet by shopping around and switching to a current account that best suits their needs.”

Halifax pointed out that the new charging structure doesn’t have credit or debit interest just a daily fee.

A spokesman for Halifax said: “The vast majority of our customers don’t use their overdraft facility in an average month and those that do only go overdrawn for a few days usually at the end of the month.

“For customers who use their overdraft on a more regular basis we have specifically asked these customers to contact us so we can review their banking needs and ensure they are in the best account for their individual circumstances."

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, loans, loans rates, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 7:15 PM 0 comments links to this post

Global loans markets experienced the best week in four months on the back of reassuring comments from Federal Reserve chairman Ben Bernanke and expectations of a strong set of results from US banks in the coming weeks.

In London, the FTSE100 closed up 7.23 points at 5,161.87, topping out a 173-point rise over the last five days, thanks in part to the UK trade deficit falling to its lowest level since 2006 as exporters took advantage of weakened sterling.

In New York, the Dow Jones Industrial Average was up 27.13 points in late trading at 9814, some 327 points higher than 9487.7 at which it ended the previous week. In Japan, the Nikkei closed up 183.92 points at 10,016.39.

In the US, traders pinpointed Mr Bernanke's speech on the state of the Fed's balance sheet as the root cause of the end-of-week positive mood, in particular his comment that "when the economic outlook has improved sufficiently, we will be prepared to tighten," which economists interpreted as a sign that the central bank is willing to end some of its extraordinary interventionist policies in the near future.

The markets were also boosted by strengthening in US exports, bringing the trade deficit to $30.7bn in August, although this was in part due to the recent weakness in dollar, which rose more than one and had cents yesterday to $1.5932 on the back of the Fed chief's comments.

Banks were also in focus, as investors await results from the US banking sector, with third-quarter results due next week for banks including JP Morgan Chase and Goldman Sachs.

Investors are looking for strong profits and reduced write-downs as signs that the financial sector is beginning to get back on its feet after two years of heavy losses.

The only word of caution came from activist investor Carl Icahn, who said in a US television interview that stock markets have been acting in a "schizophrenic" way of late, and warned that investors could suffer "a bit of a bloodbath" if the economy experiences a "double-dip recession."

Mr Icahn warned that the economy remains "on a precipice," and added: "It could really go either way. I don't think anybody can really say which way it's going to go."

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: Bernanke, Loan calculator, loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:29 AM 0 comments links to this post

Long term loans 0% deals and fees free deals are on the decline.

New research on credit cards last week made for some grim reading.

While it did suggest that the number of balance-transfer deals with no fees are rising, unfortunately, it didn't mean 0% balance transfer deals, because there are currently no cards that are both interest free and fee free on transfers. The last to offer this was the Abbey Zero card, but that deal has been changed for new applicants.

The research also found that the number of deals lasting at least 12 months has fallen considerably. I keep track of deals lasting more than 12 months and my findings correlate with theirs.

Back in 2007, we found that there were just five cards offering deals over 12 months. Last year there were 14. This year we've lost half of them. That still leaves seven to choose from though, right? Actually, it's not that simple.

All the cards charge a fee of 3%. (Or 2.98%, but let's not quibble about 200ths of a percent!)

This is because many cards are connected, which I have indicated by giving the cards a group. You can't take out a second card from any cards in the same group until you've cleared the balance and closed the card for a time, usually six months to two years.

Why are these deals declining?

These deals are great at sucking people in and we usually end up falling for one of the many costly catches, or simply being too lazy to switch our card deals at the end.

However, lenders are becoming less inclined to lend a load of money for almost nothing up front, as they need to make every penny that they lend work for them during these uncertain times.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, loans rates, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 1:23 PM 0 comments links to this post

Britons reduced their home loans mortgage debt by £7bn during the second quarter of the year, according to the Bank of England.

Recent falls in house prices and the economic downturn have put people off taking money out of their property, leading to equity withdrawal being negative for the fifth quarter in a row

The rate at which people are repaying their mortgages is broadly similar to the first quarter of the year, when home owners made net mortgage repayments of £7.3bn, according to the Bank of England.

Home owners' focus on paying down their mortgages is in stark contrast to previous years, when people released equity from their properties to fund large purchases.

While people's focus on paying off their debts may be more prudent than tapping into their housing wealth to supplement their spending, it is bad news for beleaguered retailers.

The figures show that households spent the equivalent of 2.9pc of their post-tax income on reducing their mortgages. The latest figures are a far cry from the record £17.09bn of equity that was unlocked during the final quarter of 2003.

Equity withdrawal enables home owners to cash in on rising house prices by increasing their mortgages to convert some of the rise in the value of their home into cash. The money is typically used to fund big purchases such as cars or home improvements, or for debt consolidation.

But while people feel confident about increasing the size of their mortgage debt when house prices are booming, they are far less inclined to do so when they are falling and unemployment is rising.

House price falls of more than 20pc since the market peaked in July 2007 also mean many people no longer have sufficient equity left in their property for them to withdraw, even though house prices rose for the fifth month in a row in September, according to new figures from Nationwide Building Society.

The credit crunch has also led to banks and building societies tightening their lending criteria, making it more difficult and expensive for people to extend their mortgage, particularly if they have only a small equity stake left in their home.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: Bank of England, consolidate debt loans, credit crunch, home loans, Loan calculator, loans, mortgage calculator

# posted by Dr Search- Principal Consultant at the Search Clinic @ 9:57 AM 0 comments links to this post

Thousands of rejected customer complaints against banks and other lenders are to be reopened under plans by the City Watchdog to clampdown on loans insurance products.

Companies responsible for selling more than 40 per cent of single premium payment protection policies with secured and unsecured personal loans have agreed to review their sales and compensate customers who were mis-sold the product.

The Financial Service Authority now wants to target other companies which have mis-sold PPI which they offered alongside credit cards and secured loans.

It wants all of the 185,000 complaints - concerning every type of PPI - rejected by firms during the past five years, to be reopened.

It comes after the regulator said companies had been rejecting 60 per cent of the PPI complaints they had received. Of these, 16 per cent had then gone to the Financial Ombudsman Service where 80 per cent were then upheld in the customer’s favour.

PPI policies are designed to offer peace of mind that repayments will be covered in times of crisis, such as illness or unemployment - but they can add as much as £900 to a £5,000 three year loan.

Many customers find it difficult to cancel the policies once they are taken out and some are even unaware that they have bought the policy alongside their loan.

The FSA said it is giving banks and other lenders a “last chance” and that they should “get their house in order” over claims of mis-selling.

Jon Pain, FSA managing director of retail markets, said: “Consumers should not be pressured or deceived into buying PPI and they are entitled to have a policy properly explained to them.

“It is unacceptable that despite previous warnings about poor sales practices, backed by 22 enforcement cases and significant fines, the PPI sector still needs the FSA to intervene on this.”

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 7:59 AM 0 comments links to this post

Large families are returning to the property market with gusto, chasing homes in the London neighbourhoods with green spaces, good schools, period architecture, smart little shops and farmers’ markets.

Prices are recovering most strongly in the area of southwest London stretching from Fulham to Richmond, taking in Chiswick, Clapham, Wandsworth and Wimbledon — amid rising concern that values in locations outside the capital could stagnate for some years.

These suburbs, popular with City bankers and members of the professions and their families, were the first to be affected in the downturn. But prime southwest London is now resurgent, eclipsing Belgravia, Chelsea and the rest of prime Central London.

In the past three months, prices have climbed by an average of 8.4 per cent, after growth of 6.4 per cent in the previous quarter. Prices are 2.5 per cent higher than a year ago, cancelling out the decline that followed the fall of Lehman Brothers.

Savills, the estate agent, calculates that the average £1 million home in southwest London is appreciating in value by £741 a day, whereas the average £2 million Chelsea property is adding only £713 a day.

Bankers, or at least their wives, who are looking for a home are prepared to spend about £2 million — a typical boomtime budget. Nearly three buyers are pursuing each property for sale.

The good mood in Clapham, Fulham and Wandsworth and the other leafy suburbs is beginning to spread into other parts of London, including Docklands. Prices are also rising in the commutable parts of Kent and Surrey. Winchester, in Hampshire, is another bright spot.

But Savills is much less optimistic about the outlook for other regions, fearing the development of a two-tier market of some duration. Yolande Barnes, a Savills research director, said that buyers remained locked out by lenders’ insistence on hefty deposits. Unemployment, public sector spending cuts and the likelihood of higher taxes could also be a drag on prices.

Ms Barnes believes that the shortage of credit available to such buyers may contribute to a permanent reversal of the century-long trend for increased ownership. Fewer than 70 per cent of householders own or are buying their home, a level not seen since the mid-1990s.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, home loans, Loan calculator, loans, UK loans rates, uk recession

# posted by Dr Search- Principal Consultant at the Search Clinic @ 9:34 AM 0 comments links to this post

The appauling state of Britain’s public finances were laid bare today as the labour Government unveiled new figures that showed public sector net borrowing swelled by a record £16.1 billion in August.

It was the largest increase in the amount of new debt held by the UK Government since records began.

With the recession continuing to eat into government tax receipts, the Office for National Statistics said that public sector net borrowing hit £16.1 billion, up from £9.8 billion a year ago.

The figures will deal a further blow to Chancellor Alistair Darling’s hopes of restoring order to the nation’s finances.

The increase pushed net borrowing to £65.3 billion for the five months of the financial year so far, according to the ONS. That is more than twice the £26.1 billion seen at the same stage last year.

The public sector posted a net cash requirement of £10.3 billion in August - double the level of the same month a year ago.

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, home loans, Loan calculator, loans, uk recession

# posted by Dr Search- Principal Consultant at the Search Clinic @ 12:05 PM 0 comments links to this post

International Finance and Mortgages through Loans Calculators

The UK's leading overseas mortgage specialist can help you find the finance for your property abroad, and make the process as safe and as hassle free as possible.

We have helped thousands of people to arrange their mortgages in over 45 countries by working closely with overseas lenders and property professionals helping you to buy your property, whether this is for your own personal use or for investment purposes.

Our experienced teams of specialists ensure that every step of arranging your mortgage is handled promptly, efficiently and professionally. Fully independent, we can give you a free pre-application mortgage calculation to help in your search for a property.

. 1,000's of independent financial advisers, mortgage specialists, agents and developers worldwide benefit from using our services
. New countries continually added to mortgage portfolio
. In-depth local knowledge of all documentation required for various lenders, leading to faster mortgage offers. Use of extensive database of all relevant professionals, such as lawyers, surveyors, currency exchange and offshore company formation experts
. Competitive and exclusive lending terms
. Partnerships with expert companies that can support every step of the overseas property purchase

For more information on finances in your chosen country and to find out how much you can borrow, please explore the links below:

International Finances Services- about our service companies

Funding your Deposit
We can provide you with information on different methods by which you can raise the deposit for your overseas property. The choice will depend on your financial circumstances, and will be linked to your income, assets or both. You can make these arrangements using Conti or Anchor Mortgages, our own UK specialist, or through your own sources.

Legal Advisors
We have partnerships with two UK based international law firms which, between them, are represented in every one of the countries where we provide mortgage products. This ensures that your application and purchase are dealt with by lawyers entirely familiar with the legal processes in the country concerned, and that you have a tried and tested resource to guide you - who also speaks your language!

Insurance Services
Buildings insurance for the building you are purchasing will normally be a requirement of any mortgage offer. We can direct you to intermediaries who specialise in providing insurance for both Buildings and Contents in all the countries in which we operate. The policy will be provided in the UK, written in English, and by an insurer regulated in the UK by the Financial Services Authority.

Currency Exchange
Part of the mortgage process may involve setting up a bank account in the country where you are purchasing, and it will be in your interests to obtain the best possible exchange rates into the local currency. We have a facility with one of the biggest Currency Exchange companies in the UK to assist you with this.

For more information on finances in your chosen country and to find out how much you can borrow, please explore the links below:

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, mortgage calculator

# posted by Dr Search- Principal Consultant at the Search Clinic @ 7:15 PM 0 comments links to this post

Adverse credit loans has become one of the most common problems that people are facing these days. On top of that if you have a mortgage that is costing you a lot then you can go in for a remortgage that can help you reduce the costs.

Now comes the question that you are suffering from bad credit and how can you qualify for a remortgage loan. Well, the lenders have especially come up with remortgage loans for people with credit problems so that it can reduce the burden and help pay off the mortgage easily.

UK Loans Calculators for a fast online application, decision and payout ADVERSE CREDIT LOANS please click here now

For UK mortgage holders looking for a fast online mortgage calculator ADVERSE CREDIT LOANS please click here now

A remortgage is basically a replacement loan for your mortgage at a lower interest rate. When you take a remortgage loan your mortgage is paid off and a new loan payment towards the remortgage starts. If you have adverse credit the lender would definitely see you as a risk and offer you a remortgage loan at a higher interest rate than those made available to people with good credit.

Rates offered on adverse credit remortgage

When you take a remortgage loan with adverse credit you are offered different types of interest rate. Keeping your financial situation in mind the lender offers you the following types so that you can choose easily from whichever one you think would be the best suitable for you.

Fixed rates: This keeps your interest rate same throughout the mortgage and helps you to preplan your budget. But with this option you cannot enjoy any drop in the interest rates in the future. Variable rates: This is also offered as the standard variable rate and fluctuates with the change in the national rates. This means that your interest rates would not be fixed throughout the loan term and would change every month.

Capped rates: This rate means that your monthly payments would not exceed a limited amount every month however, within this limit the interest rates would vary according to the variable rates.

UK Loans Calculators for a fast online application, decision and payout APPLY NOW please click here now

Why should you opt for these loans

Taking an adverse credit remortgage is one of the best ways in which you can lower your interest rates and hence your monthly payments that you were making towards the mortgage loan. You can get a big amount, as you would have to keep your house or its equity as collateral and after having paid the mortgage you can use the remaining amount for making home improvements, for debt consolidation, financing education expenses of your children etc.

With the help of these loans you can convert your variable interest into fixed rate. You can increase or decrease the term of your loan and also opt for more flexible options for the loan. However, it is important that you review your adverse credit remortgage loan before signing the agreement.

What should you check before signing

When applying for the adverse credit remortgage loan it is important that you be wary about the interest rate that the lender is offering you. It is advised that you opt for these loans only if the interest rate is lower than the rates on your present mortgage.

Before you apply for these loans check the mortgage rates prevailing in the market and get an idea about the interest rate that would be charged for adverse credit. If you find that the interest rates are low then you can go ahead and apply for the remortgage loan. Besides this keep a track about the other fees that the lender is charging you.

Make sure that you are aware of all the costs related to the adverse credit remortgage loan. It is important that you be careful while taking these loans, as there are many lenders in the market who try and take advantage of such people. Ask about the pre-payment penalties and the rest of the charges like solicitor fees, property appraisal fee etc.

Where to apply? Right Here!

UK Loans Calculators for a fast online application, decision and payout APPLY NOW please click here now

For UK mortgage holders looking for a fast online mortgage calculator APPLY NOW please click here now

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, home loans, Loan calculator, loans, refinancing rates, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:44 AM 0 comments links to this post

Credit Cards USA

- More than 70 credit cards available from major card issuers, including:

Just fill in the 5 boxes and see which company will give you the best rate for your requirements!


Card Category:
Intro APR:
Time Period:
APR (Purch.):
Annual Fee:

The USA credit cards available cover many features and types-

For those with good standing who already have an established good history and are looking for a facility with access to a reward program. An ideal facility for those who can afford to pay in full each month to avoid accumulating debts, as often can be the case with revolving balances and high interest rates.

Or one designed for those with very good history who are looking for a cashback bonus reward arrangement.

Or one designed for those with good history who would like to take advantage of the various standard services and benefits provided by Citibank.

Or one designed for those who have an excellent ratings history, can pay in full each month, and want to avoid accumulating debt.

Or one designed for those with good or excellent history who plan to take advantage of the cash back reward program offered, which Kiplinger's Personal Finance* named as the "best cash-rebate company." Cardholders get unlimited cash back savings on eligible purchases with the facility.

Or a stored value facility designed for those who may have difficulty in obtaining an unsecured arrangment. This facility requires the cardholder to make payments in advance, which are then used to offset future purchases made with the company.

Or a student facility which is designed for students with very good ratings who are looking for a cash reward facility. Through the reward program, cardholders earn a 5% rebate for purchases made in popular categories that change four times a year such as travel, gas, restaurants, movies, and more.

Or one designed for those with an average ratings history who are looking for a very low cost facility. The best feature of this arrangment is the reasonably low fixed interest rate of 6.50%.

Just fill in the 5 boxes and see which company will give you the best rate for your requirements!

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, sub prime loans, US loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:22 AM 0 comments links to this post

UK Cash Credit Cards facility with no checks!

How your account works: Your salary and other income can be paid into your billing account. Your Account Manager will set aside the money needed in this account for your regular bills and payments.

You can choose to transfer any remaining balance onto your cardone Prepaid MasterCard card which you can use to shop or withdraw money.

Not only can you pay for your weekly shop, you can withdraw cash at ATM machines worldwide, shop online or even over the phone.

Manage your account securely online, by phone and by text

	Quick and easy to apply with no credit checks
	A bank account with guaranteed acceptance that's open to everyone*
	One-to-one Account Manager and secure internet banking
	No hidden bank charges and you won't incur any overdraft fees
	We'll give you your own Prepaid MasterCard® card so you can control your spending

We'll give you all this for just £12.50 per month, plus a one off account opening fee of just £30

Please apply for your cash credit cards here now!

A unique banking facility that's open to everyone*, irrespective of your current situation or past credit history. There are no credit checks! We'll help you manage your money so you can keep track of your payments or standing orders. Even if you can't pay an item, we won't charge you a bounced payment fee, but we will let you know in good time. We'll ensure all your bills are paid on time.

A prepaid card looks just like any normal credit or debit card, with a card number, signature strip and chip. However, it does not provide you with a line of credit. You can't borrow money with a Prepaid card – you can only spend the money you have loaded onto it.

The Prepaid MasterCard card works in a similar way to a Pay As You Go mobile top up card. If you transfer £100 to the card from your Billing Account, you can only spend £100. The advantage is that this card comes with all the convenience of a debit card. You can spend within your means and you cannot go accidently overdrawn. Using the cardone Prepaid card could help you control your money.

Taking it one step further- Why not request a second Prepaid card that is linked to the same cardonebanking account? This is ideal for a member of your family or partner and could help to keep spending to a set monthly allowance.

Please apply HERE NOW!

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, Loan calculator, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:13 AM 0 comments links to this post

Home Refinance- You may want your loan for major home improvement work, a holiday, to pay school or university fees, or to provide financial support for your children. Whatever you need to loan the extra money for we will be happy to listen.

Your loan can be for any purpose and once we have received your completed homeowner loan form your loan application will be processed quickly to ensure your secured homeowner loan is granted as soon as possible. Once your loan is granted you are free to spend your money on anything you wish.

Borrow £5,000 to £1,000,000
Borrow over 3 to 25 years
Simple, fast and straight forward
Free yourself from unwanted debts

For UK loans seekers looking for a fast online loans calculator HOME REFINANCE APPLY NOW please click here now

For UK mortgage refinance fast online mortgage calculator APPLY NOW please click here now

Being refused credit or having a bad credit rating is nothing to be ashamed of and we won't judge you either.

We may still be able to arrange an unsecured bad credit loan for you even if you've been turned down or refused credit many times.

A bad credit history is just that, history. So why not fill in our online form today for a free unsecured bad credit loan quotation and perhaps we can turn your bad credit history into a positive result.

We specialise in helping those previously refused by other companies and high street lenders. Finance for tenants, homeowners, and anybody with bad credit or credit difficulties such as CCJs, defaults or mortgage arrears.

We even arrange loans for the self-employed and those who have difficulty in proving their income.

No matter what you need, experienced and friendly advisors will guide you every step of the way - so your loan application goes ahead quickly, easily and completely hassle free.

What is an unsecured bad credit home loan?

An unsecured bad credit loan is for people who have had problems in the past, and now have a less than perfect credit rating. An unsecured bad credit loan does not require you to use your property as a guarantee or security for the loan either. As it is unsecured, the loan offers a little more flexibility to the borrower that does not wish to put their home at risk.

Who are the loans for?

Unsecured Home Loan Calculator are in the first instance, best suited to those with a bad credit history who do not wish to secure the loan against their property. In the second instance, an unsecured bad credit loan is often the only option for people or tenants who suffer with a bad credit history and have no property to secure the loan against.

Who can apply for a loan?

The simple answer is anybody can apply for an unsecured bad credit loan, however in reality before an application can be processed your age and employment status are taken into consideration.

You may need to arrange finance for a new car, a well-deserved holiday, home improvements, to pay school or university fees, or to pay off credit cards or an overdraft.

Your finance can be for any purpose and your application will be processed quickly to ensure your monies are granted as soon as possible. Once your loans are granted you are free to spend the money on anything you wish.

As long as you are employed and you are over 18, you can apply. Please contact us today for a free no obligation quote.

Our lenders provide some of the most competitive finances in the UK. So if you’re looking for a help and you’re a UK resident why not ask for a quote?

At Wise Money we work with a number of different financial services providers. As a result we find that we are able to provide competitive rates and terms for a wide range of different personal circumstances.

You can choose between a secured or an unsecured credit and it can be for any purpose. All that our lenders ask is that you can meet the monthly repayments and that you’re a UK resident.

You can expect a prompt and efficient service. An in-principle decision will be made as soon as possible and once your application has been fully processed your money is made available to you as quickly as possible which you are then free to spend as you wish.

Please click here now to APPLY NOW online here now

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, home loans, Loan calculator, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 8:22 AM 0 comments links to this post

Home Mortgage Calculator -You may want your loan for major home improvement work, a holiday, to pay school or university fees, or to provide financial support for your children. Whatever you need to loan the extra money for we will be happy to listen.

Your loan can be for any purpose and once we have received your completed homeowner loan form your loan application will be processed quickly to ensure your secured homeowner loan is granted as soon as possible. Once your loan is granted you are free to spend your money on anything you wish.

Borrow £5,000 to £1,000,000
Borrow over 3 to 25 years
Simple, fast and straight forward
Free yourself from unwanted debts

For UK loans seekers looking for a fast online loans calculator HOME MORTGAGE CALCULATOR APPLY NOW please click here now

For UK mortgage holders looking for a fast online mortgage calculator APPLY NOW please click here now

Being refused credit or having a bad credit rating is nothing to be ashamed of and we won't judge you either.

We may still be able to arrange an unsecured bad credit loan for you even if you've been turned down or refused credit many times.

A bad credit history is just that, history. So why not fill in our online form today for a free unsecured bad credit loan quotation and perhaps we can turn your bad credit history into a positive result.

We specialise in helping those previously refused by other companies and high street lenders. Finance for tenants, homeowners, and anybody with bad credit or credit difficulties such as CCJs, defaults or mortgage arrears.

We even arrange loans for the self-employed and those who have difficulty in proving their income.

No matter what you need, experienced and friendly advisors will guide you every step of the way - so your loan application goes ahead quickly, easily and completely hassle free.

What is an unsecured bad credit home loan?

An unsecured bad credit loan is for people who have had problems in the past, and now have a less than perfect credit rating. An unsecured bad credit loan does not require you to use your property as a guarantee or security for the loan either. As it is unsecured, the loan offers a little more flexibility to the borrower that does not wish to put their home at risk.

Who are the loans for?

Unsecured Home Loan Calculator are in the first instance, best suited to those with a bad credit history who do not wish to secure the loan against their property. In the second instance, an unsecured bad credit loan is often the only option for people or tenants who suffer with a bad credit history and have no property to secure the loan against.

Who can apply for a loan?

The simple answer is anybody can apply for an unsecured bad credit loan, however in reality before an application can be processed your age and employment status are taken into consideration.

You may need to arrange finance for a new car, a well-deserved holiday, home improvements, to pay school or university fees, or to pay off credit cards or an overdraft.

Your finance can be for any purpose and your application will be processed quickly to ensure your monies are granted as soon as possible. Once your loans are granted you are free to spend the money on anything you wish.

As long as you are employed and you are over 18, you can apply. Please contact us today for a free no obligation quote.

Our lenders provide some of the most competitive finances in the UK. So if you’re looking for a help and you’re a UK resident why not ask for a quote?

At Wise Money we work with a number of different financial services providers. As a result we find that we are able to provide competitive rates and terms for a wide range of different personal circumstances.

You can choose between a secured or an unsecured credit and it can be for any purpose. All we ask is that you can meet the monthly repayments and that you’re a UK resident.

You can expect a prompt and efficient service. An in-principle decision will be made as soon as possible and once yourapplication has been fully processed your money is made available to you as quickly as possible which you are then free to spend as you wish.

Please click here now to APPLY NOW online here now

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 11:10 AM 0 comments links to this post

Debt Management UK consolidates all your debts in to one affordable monthly or weekly payment. This is an informal arrangement made between your and your creditors.

Wise Money have providers of finance that may be able to assist you. The finance company will take details of your outstanding credits, income and outgoings, and provide proof to your creditors that they can't afford current repayments.

You will then make one affordable payment to the finance company, which will in turn distribute this to your creditors. Typically, the new payment is half your existing payments, but will depend upon individual circumstances. The company charges an administration service for arranging this for you.

How can this help you?
* It creates lower payments for you.
* Payments are based on your disposable income.
* One payment.
* Less hassle, you pay the company and they forward payments to your creditors.
* Creditors liase with the company not you.
* Client control.
* If your circumstances change for the better or the worse, you may adjust your payments accordingly.
* No need for you to get involved in legal proceedings.
* Unlike an IVA, this is an informal agreement, not involving the courts and it does not require minimum loans levels.
* Does not put your home at risk.
* Unlike a secured consolidation loan, you do not run the risk of having your home repossessed should you not be able to make payments.

For financial help a fast online consolidate loans calculator DEBT MANAGEMENT UK APPLY NOW please click here now

Examples of where credit refinancing fits in...

Total loans amount: £39,000
Was paying: £891/month
Now paying: £396/month
Client has totals outstanding loans of £39,000 with 7 creditors. He was aged 67 with a household income of £1,150 per month (including his own and his wife's pension). He was paying out £891per month. He owns his home, without a mortgage, valued at over £400,000. He was unable to get a mortgage or secured loan due to age and insufficient disposable income. We have reduced his payment to £396, with a view to getting a mortgage or downsizing his home in the future.

Total loans amount: £12,950
Was paying: £350/month
Now paying: £180/month
These clients were repaying all their monthly credit payments until the husband lost his job, halving the household income. A few months later the savings which they had were all gone and so they tried looking at an unsecured loan to reduce monthly payments, not being homeowners they were unable to borrow against their property. Their low income ment that they were unable to get any type of loans and now they were beginning to miss payments. The clients looked at the possibility of an IVA but as the husband would be returning to work, an IVA would effect the client for too long given that the husband may be able to return to work within the year. A credit arrangent was the right solution for them because the payments were flexible and could be increased when they were both working again.

For help and a fast online consolidate loans calculator APPLY NOW please click here now

Even if you’ve got a bad credit history you can still apply for help. A bad credit history should not put you off applying for finance and we have helped many customers who have been turned down in the past by other lenders. Being refused credit or having a bad credit rating is nothing to be ashamed of and we won't judge you either.

A bad credit history is just that, history. So why not fill in our online form today for a free quotation and perhaps we can turn your situation into a positive result.

Finance for tenants, homeowners, and anybody with bad credit or credit difficulties such as CCJs, defaults or mortgage arrears. We even arrange loans for the self-employed and those who have difficulty in proving their income.

For help and a fast online consolidate loans calculator APPLY NOW please click here now

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 11:06 AM 0 comments links to this post

Credit cards you guide to unsecured loans in plain english

What exactly is a credit card?
How do credit cards work?
Do all credit cards offer the same service?
How do I get a credit card?
Am I obligated to accept the offer if I apply?
What if my application is rejected?
Are there any credit card traps?
How is my credit limit determined?
How am I judged when applying for a credit card?
How do I check my credit rating?
Does applying for a credit card affect my credit status?
Why do providers put so much importance on a good credit history?
I've had credit problems. Can I still qualify for a credit card?
How much do they cost?
How are interest charges calculated?
What does 'grace' or 'interest free' period mean?
How should I pay the bill?
Must I pay the full bill each month?
How can I make sure I never miss paying my bill on time?
What will happen if I can't afford to pay the outstanding balance?
What is a balance transfer?
What is Payment Protection?
What is an affinity card?
What is a secured card?
What is a guaranteed card?
What is an unsecured card?
What is a debit card?
Is a credit card the same as a charge card?
Do all cards offer travel rewards?
I thought ATM cards had PIN numbers. Why do credit cards have them?
Where can I withdraw money using my credit card?
Can I get cash on my credit card?
Why am I charged more interest when I use my credit card to get cash?
Are credit cards cheap to use when abroad?
How can I be sure that I make the right choice?
Are credit cards safe?
Is it safe to give out my credit card number when buying goods or services by phone or on the Internet?
Do I get proper consumer protection if I use a credit card?
If I have a problem with my credit card whom should I contact?
What if I lose my card?
How do I know where to find your website again?
What is a cookie?

Please just click here now for all of your credit card and unsecured loans needs credit card calculator

What exactly is a credit card?
A credit card represents a loan agreement where you are offered credit, providing you pay off a minimum amount each month. You can charge purchases up to the amount of your credit limit and pay for them later.
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How do credit cards work?
With a credit card, as long as you do not exceed your credit limit, you can spend whatever you wish, wherever your credit card is accepted. You are required to pay a minimum amount off the balance each time you receive a billing statement. The usual minimum payment is approximately 3% - 5% of the balance. You can sign for purchases or you can purchase by telephone or the Internet. There are many different card issuers, but most operate through two worldwide credit card networks - VISA and MasterCard.
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Do all credit cards offer the same service?
No, there are huge differences in the services provided by credit card issuers. For example, there are cards available to people at a set minimum income level, e.g. Gold/Platinum cards, and these may provide more benefits to the customer. With Affinity and Charity cards, a small percentage of what you spend is donated to an affiliated organisation. Reward programmes offer air miles, shopping points, cash rebates or special discounts. If you do not pay your balance, you may lose these benefits. Other features include access to cash machines, travel insurance, and special introductory rates. Purchase Protection is available in the case of loss, theft or damage to goods you purchase with your card.
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How do I get a credit card?
It's easy! Just complete the following 5 steps:

Through our Find the Right Card option, you can interactively search for a credit card based on the features most valuable to you. You can compare using your own personalised criteria, whether its price, brand or reward programmes.
The results of this comparison will be presented in graphical format together with the relative importance in percentage of the most valued features to you.
After comparing your most valuable features, you will be presented with a list of ten suitable credit cards. Each card is given a percentage so you can see how close each product matches your preferences. You can view the details for each of the credit cards in the list to help make a decision.
For our on-line partners, you can complete the application form for their products on this site and send it off. All aspects of your application are assessed by the product provider, and a decision is provided within 24 hours.
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Am I obligated to accept the offer if I apply?
If you apply and are approved for a credit card, you are under no obligation to accept the offer. An offer will be sent to your listed address and you choose to accept by returning the signed document to the product provider.
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What if my application is rejected?
If your application is rejected, you can ask your credit card provider to review the application. If a credit reporting agency has been used, you can ask for the agency name and address. Write to them requesting any details held on you. Remember that you can apply for more than one card - however for credit rating reasons it is not advisable to apply for more than five cards within a 6-month period.
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Are there any credit card traps?
With credit cards it's very easy to borrow without realising how much, until you receive your monthly statement. So, try to keep track of your spending. Credit cards can be a costly form of borrowing so look out for other loans, such as personal loans, that might better suit your needs. Always keep your receipts and check them against your statement. If you do not recognise an item on your statement, contact the provider immediately. Note that if you use your card overseas, sometimes it takes longer for items to appear on your statement.
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How is my credit limit determined?
Your credit limit is determined by a combination of things, including your credit history, income and amount of debt. These conditions are also used to determine what type of card you may be offered. For example, some standard cards have credit limits of up to 3,000. Gold and platinum cards may offer extended credit limits to customers with well established and very favourable credit histories. Customers without a credit history or with blemished credit histories tend to be offered secured cards or unsecured standard cards with lower credit limits. Once a cardholder's credit history is established or improved, cards with higher credit limits can be obtained.
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How am I judged when applying for a credit card?
Judgement criteria can vary from one card provider to another. However, your income and your credit history are the two main criteria. Many card providers rely on data from credit reporting agencies.
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How do I check my credit rating?
First of all, you need to understand how the system works. Remember that you do not have a right to credit, and before giving you credit, lenders such as banks and loan companies want to check that you are an acceptable risk. To help them do this, they check with firms called credit reference agencies (CRAs) to get details about you and your credit record.
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Does applying for a credit card affect my credit status?
Yes. Every time you apply for a credit card, an inquiry is made as to your credit status. This inquiry is noted with the respective credit agency. Although these inquiries will remain on the report for approximately one year, providers will be primarily concerned with the number of inquiries over the last 6 months. Providers do become concerned if there are more than 10 inquiries during that time. They interpret this as an indication that you are badly in need of credit, and thereby consider you high risk. As a result, they will be less likely to grant you the credit card you are applying for. It is therefore important that you do not apply for an excessive amount of credit cards unless absolutely necessary.
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Why do providers put so much importance on a good credit history?
When issuing you with a credit card, providers give you credit. They take this risk based on your ability to repay that money. Your credit history shows how you have repaid loans in the past. This is taken as an indication of how you will repay loans in the future. If you have a good credit history you are considered low risk. A good credit history can help you get more than credit card privileges. It can also help get loans for those bigger life purchases such as a car or a house. A good credit history speaks well for you. A poor credit history can be improved over time and people have opportunities to make that happen.
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I've had credit problems. Can I still qualify for a credit card?
If you are trying to re-establish credit, it is likely that you will be issued with a 'secured' card, which means that your credit agreement may have to be guaranteed or "secured" with a cash deposit up front. This deposit guarantees you will repay money borrowed using your credit card. The limit on the card is usually the same as the guaranteed deposit.

Otherwise, you may be issued an 'unsecured' card - where no money guarantee is required. However, the card charges may be higher because you are considered a higher risk. Once a good credit history has been established you will qualify for more credit card privileges.
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How much do they cost?
The cost can vary, depending on whether the card provider charges an annual fee, the interest rate charged for borrowing, the interest-free period offered, etc. Additional charges can include those for cash withdrawals, late/returned payments, and exceeding your credit limit.
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How are interest charges calculated?
How interest is calculated is important and decides how much you're charged on your unpaid account balances. There are 3 ways to decide what your unpaid account balances are:
Average Daily Balance (ADB)
Adjusted Balance (AB)
Previous Balance (PB)
The ADB is each day's balance added up for the month and divided by the number of days in a billing cycle. This is the most common way to calculate your balance and proves the most costly to you. If you don't pay your bill in full, the interest is charged from the day a charge is billed to your account.

The AB is the balance that remains after adjusting for payments and credits posted during the billing cycle. This is the least costly method to you.

The PB is the outstanding balance at the end of the previous month. This is less costly to you than the ADB but more costly than the AB.
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What does 'grace' or 'interest free' period mean?
This is the number of days of interest-free credit. You are not charged interest on your account balance for a specific number of days. The number of days can vary from about 20 to 56.
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How should I pay the bill?
You can pay your bill in many ways - by direct debit, for example. Be careful, though, as there may be a charge for some methods. Your payment might also be delayed for some reason which can result in charges if it's late. As a general rule, you should try and pay your bill in full and by the monthly due date.
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Must I pay the full bill each month?
No, you do not have to pay the full bill, but the majority of card providers will require a minimum payment of approximately 3-5% of the outstanding balance on your account. The less you pay off your bill, the more interest you will be charged. If you do not wish to pay unnecessary interest charges, pay your bill in full and on time every month.
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How can I make sure I never miss paying my bill on time?
Set up a direct debit to ensure that the monthly payment is made automatically. It is worth considering this payment option because if you miss the deadline, the interest may be backdated to the date of purchase.
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What will happen if I can't afford to pay the outstanding balance?
Contact the provider to discuss your predicament. They may recommend an alternative solution as it is in their interest to have the problem solved. Alternatively, you could discuss this with a voluntary organisation that provides free advice and may help you manage your debts.
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What is a balance transfer?
If you already have a credit card and you apply for a new one, you can transfer your existing balance on the previous card to the new one. The new credit card provider will assume the outstanding debt that you owe on the previous card by paying off the credit card provider and then billing you for it.
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What is Payment Protection?
Payment Protection is insurance that will protect you in the event you are unable to make payments under qualified circumstances.
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What is an affinity card?
An affinity card is a credit card that is linked to a particular charity. When a card is issued to you, a donation is made to the affiliated charity, and a small percentage will be donated for every transaction made on the card.
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What is a secured card?
Secured cards require you to make a cash deposit up front. The limit on the card is usually related to the amount of the bank deposit. The bank has the right to take money from your deposit if you do not pay your credit card bill.
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What is a guaranteed card?
A guaranteed card is the same as a secured card.
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What is an unsecured card?
You probably won't hear this term often because it is the norm. A normal credit card is unsecured. The card provider cannot take specific assets of yours in the event you do not pay your bill. Your card provider would have to sue you to collect the debt.
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What is a debit card?
The amount you spend using a debit card is immediately deducted from your current account. Your banking institution issues you with a debit card. Debit cards offer less protection than credit cards in the event of a billing dispute. In addition, if your debit card is stolen, it is possible that your debit card account could be emptied.
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Is a credit card the same as a charge card?
No. Like a credit card, a charge card allows you to charge a purchase and pay for it later. But, a credit card offers a revolving line of credit. This means you don't have to pay off the total loan - as long as you make a minimum monthly payment. With a charge card, however, everything you spend on the card must be paid in full each month. Charge cards often incur an annual fee because you don't pay interest on purchases. But, they tend to offer very competitive reward programmes in exchange for the higher fee. An example of a charge card is American Express or Diner's Club.
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Do all cards offer travel rewards?
No. Only a travel card offers the opportunity to accumulate travel points for purchases made with a card. If you want a card that offers travel rewards, you should apply for a card that is associated with an airline or travel program you're interested in.

A travel card usually has an annual fee, which can pay for itself if you earn enough travel rewards. Make sure you use the card for purchases that make good sense, and not just to earn travel benefits.
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I thought ATM cards had PIN numbers. Why do credit cards have them?
A PIN is a numerical password that goes with your credit card. If you have a PIN, you can get a cash advance at an ATM displaying the symbol of the credit card network your card is with. You can also get a cash advance in another country and in the local currency.
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Where can I withdraw money using my credit card?
Once you have a PIN number, you can use your credit card to withdraw money at most cash machines in hundreds of countries around the world. Your credit card network will be identified on the cash machines that accept your card.
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Can I get cash on my credit card?
Yes. For this service you pay a cash handling fee and there's no interest-free period.
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Why am I charged more interest when I use my credit card to get cash?
Credit card networks don't always charge higher interest rates on cash advances. In fact, most don't. They do charge a cash handling fee, which is usually a minimum charge of £2.00 or 1.5% of the cash amount you withdraw. Interest charges on cash advances, however, accrue from the moment you withdraw the cash. When using your card normally, interest is often charged only if you fail to pay off your full account balance on time.
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Are credit cards cheap to use when abroad?
Credit cards generally work out cheaper to use abroad than changing to foreign currency or using travellers cheques.
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How can I be sure that I make the right choice?
Our unique selection process, guides you through the decision-making process and provides credit cards to match your requirements. For example, you will be asked for your preferences relative to different credit card features, such as APR, Payment Brand and Reward Programmes. You will then evaluate a series of hypothetical products and make trade-offs between different card features. After comparing these features, you will be presented with a list of ten suitable credit cards, based on your preferences.

Some general guidelines: If you pay your bill in full each month, then a card with a long interest free period and no annual fee may well be the best choice. For ongoing borrowing, a card with lower interest charges and shorter interest free time may be more suitable. If you go abroad or travel frequently, then consider cards with automated bill payment methods such as direct debit. Ensure that what is on offer meets your needs - a benefit is only a benefit if you make use of it.
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Are credit cards safe?
Yes. Credit cards are a safe, convenient way to buy things in stores, over the telephone or on the Internet with a reputable merchant. And, if your card is ever lost or stolen, a phone call to the card provider cancels the card and has it replaced. Once you report the loss, you will not be held responsible for any unauthorised charges. Remember, for your protection, always:

Sign and activate a new credit card immediately
Save your credit card sales slip to check against your monthly statements
See that you get your card back after every purchase and carry it in the same secure place
Tear up the sales slips if and when you throw them away
Check your billing statement for accuracy each month
Check the Terms and Conditions of any cards you apply for.
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Is it safe to give out my credit card number when buying goods or services by phone or on the Internet?
Make sure that your reputable online retailer like Wise Money uses a "Secure Socket Layer" or SSL that encrypts your personal details Most retailers and service providers are genuine and allow purchases to be made safely and securely. Problems may arise if an unauthorised person accesses your name, card number and card expiry date. They could use these details to carry out a transaction over the phone or on the Internet.

To limit access to these details you should use a telephone land line when ordering by phone. Business conducted using cordless or cellular phones is easier to intercept.

As a security measure, most card providers check that your purchases are delivered to your billing address. If an unusually high number of purchases are being carried out using your card, the card may be deactivated or you may be contacted.

The credit card details you give over the phone are not enough to enable an unauthorised person to make a counterfeit card. The card itself must be presented to buy in shops, restaurants etc. and to get a cash advance from an ATM.
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Do I get proper consumer protection if I use a credit card?
Credit card providers are responsible, along with the supplier of goods or services you purchase, for problems with certain goods paid for by credit card. This applies if the cash price of the item is between £100 and £30,000 and if the total credit value is less than £25,000. If you use your credit card when buying items in this range you can benefit from this consumer protection. If someone you purchase from fails to compensate you, you can claim against your card provider.
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If I have a problem with my credit card whom should I contact?
In all cases you should contact your credit card provider. If your card is lost or stolen, telephone the provider immediately. If you have a billing query, you should contact your card provider. It is your right to dispute a purchase or service which appears on your bill and which you did not make. If you wish to renew your card, you should contact your card provider. It only takes a few days to order a new card over the telephone and to receive it by post.
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What if I lose my card?
Telephone the provider immediately. They will 'stop' the card and issue a replacement. So it's important to keep a note of the telephone number and card number separate from the card. Don't, under any circumstances, keep a note of the PIN (personal identification number) with the card or anywhere else. Memorise it. You can register your cards with a card protection company for a fee and with one call, they will deal with the cancellation and replacement on your behalf. Some providers also offer insurance against loss and misuse.
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How do I know where to find your website again?
It's easy to get lost on the Web. To avoid Web disorientation, make frequent use of your browser's bookmarking feature. This feature allows you to mark the website you are navigating so you can access it again at a later date without having to memorise it's location.

To bookmark a web page in Netscape browser, simply select Bookmarks from the menu bar at the top of the page and click on the 'Add Bookmark' option. This will save the location of the site you are navigating. To access this website at a later date, select Bookmarks from the menu bar and browse through your list of bookmarked sites to select the appropriate one. Once selected you will automatically be navigated to that page.

To bookmark a web page in Internet Explorer, simply select Favourites from the menu bar at the top of the page and click on the 'Add to Favourites' option. This will save the location of the site you are navigating. To access this website at a later date, select Favourites from the menu bar and browse through your list of bookmarked sites to select the appropriate one. Once selected you will automatically be navigated to that page.
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What is a cookie?
A cookie is a piece of information sent to your PC when you access a website. It stores information about you that should save you time when filling in forms. For more information please go to the Cookie Central site at http://www.cookiecentral.com for more information.
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Please just click here now for all of your credit card and unsecured loans needs credit card calculator

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: consolidate debt loans, credit crunch, Loan calculator, loans, sub prime loans

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:57 AM 0 comments links to this post

UK Cash Credit Cards facility with no checks!

How your account works: Your salary and other income can be paid into your billing account. Your Account Manager will set aside the money needed in this account for your regular bills and payments.

You can choose to transfer any remaining balance onto your cardone Prepaid MasterCard card which you can use to shop or withdraw money.

Not only can you pay for your weekly shop, you can withdraw cash at ATM machines worldwide, shop online or even over the phone.

Manage your account securely online, by phone and by text

	Quick and easy to apply with no credit checks
	A bank account with guaranteed acceptance that's open to everyone*
	One-to-one Account Manager and secure internet banking
	No hidden bank charges and you won't incur any overdraft fees
	We'll give you your own Prepaid MasterCard® card so you can control your spending

We'll give you all this for just £12.50 per month, plus a one off account opening fee of just £30

Please apply for your cash credit cards here now!

A unique banking facility that's open to everyone*, irrespective of your current situation or past credit history. There are no credit checks! We'll help you manage your money so you can keep track of your payments or standing orders. Even if you can't pay an item, we won't charge you a bounced payment fee, but we will let you know in good time. We'll ensure all your bills are paid on time.

A prepaid card looks just like any normal credit or debit card, with a card number, signature strip and chip. However, it does not provide you with a line of credit. You can't borrow money with a Prepaid card – you can only spend the money you have loaded onto it.

The Prepaid MasterCard card works in a similar way to a Pay As You Go mobile top up card. If you transfer £100 to the card from your Billing Account, you can only spend £100. The advantage is that this card comes with all the convenience of a debit card. You can spend within your means and you cannot go accidently overdrawn. Using the cardone Prepaid card could help you control your money.

Taking it one step further- Why not request a second Prepaid card that is linked to the same cardonebanking account? This is ideal for a member of your family or partner and could help to keep spending to a set monthly allowance.

Please apply HERE NOW!

Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: credit crunch, home loans, Loan calculator, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:37 AM 0 comments links to this post

Commercial Finance through Wise Money. Whilst the following represent a flavour of what our commercial finance lenders can help you with, these are merely guidelines and they are still very flexible. Should your overall position be sufficiently strong then we may be able to step outside these guidelines.

Residential property – Buy to let & professional	KEY AREAS OF INTEREST:
Buisness mortgages	100% Business Loans (With Extra Security)
Property development for land purchase & development	BTL (No rental calculation) up to 75% LTV
Agriculture	Standard BTL 85% (with 125% rental calculation)
Healthcare & care homes	Large Business Loans available at rates from 2% above BBR
Hotels & restaurants	HMO’s (House of Multi Occupation) up to 70% LTV
Retail & franchising

Please remember business loans do not have stringent underwriting criteria. All cases vary and one lender may look at one risk differently from another. If you are in any doubt please contact us today on 0845 467 0127 quoting Wise Money)

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Not sure what to do? Simply complete the form for a free no obligation quote and you can talk through your alternatives with our trained advisors.

If you are looking for a mortgage, even if you have a poor credit history, come to us first to see what we can do. Your poor credit history does not exclude you from getting a mortgage or remortgage.

Even if your poor credit rating has meant you’ve had special terms imposed on remortgage quotes in the past, we have access to a number of suppliers of poor credit remortgages and have been able to help many customers with a poor credit rating to arrange a suitable remortgage.

If features such as no early repayment penalties, transfer flexibility, or payment holidays are important to you these will be factored in to our search. If these features are not important to you, our team of advisors will base the search on finding you the most suitable mortgage available to suit your particular circumstances.

If you’ve had problems finding a regular mortgage because you can’t prove your income please talk to our lenders about a self certification mortgage. We work with a number of suppliers who are happy to consider self certification mortgages. If this sounds like the type of mortgage you need talk to one of our advisers today to see what we can do for you.

Once we have all the details, your self certification mortgage will be processed as soon as possible to ensure your funds are available so you can complete your house purchase without delay.

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Your loans can be for any purpose and your application will be processed quickly to ensure your monies are granted as soon as possible. Once your loans are granted you are free to spend the money on anything you wish.

As long as you are employed and you are over 18, you can apply. Please contact us today for a free no obligation quote.

Our lenders provide some of the most competitive loans in the UK. So if you’re looking for a help and you’re a UK resident why not ask for a quote?

At Wise Money we work with a number of different financial services providers. As a result we find that we are able to provide competitive rates and terms for a wide range of different personal circumstances.

You can choose between a secured or an unsecured credit and it can be for any purpose. All we ask is that you can meet the monthly repayments and that you’re a UK resident.

You can expect a prompt and efficient service. An in-principle decision will be made as soon as possible and once yourapplication has been fully processed your money is made available to you as quickly as possible which you are then free to spend as you wish.

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Loans Calculators Blog- loans rates blog for news about interest rates- unsecured and secured loans, mortgages, remortgages and refinancing including home loans, equity release and consolidate debt loans.

Labels: home loans, Loan calculator, loans, UK loans rates

# posted by Dr Search- Principal Consultant at the Search Clinic @ 10:18 AM 0 comments links to this post

Business Finance through Wise Money. Whilst the following represent a flavour of what our business finance lenders can help you with, these are merely guidelines and they are still very flexible. Should your overall position be sufficiently strong then we may be able to step outside these guidelines.

Residential property – Buy to let & professional	KEY AREAS OF INTEREST:
Commercial mortgages	100% Commercial Loans (With Extra Security)
Property development for land purchase & development	BTL (No rental calculation) up to 75% LTV
Agriculture commercial	Standard BTL 85% (with 125% rental calculation)
Healthcare commercial & care homes	Large Commercial Loans available at rates from 2% above BBR
Hotels & restaurants	HMO’s (House of Multi Occupation) up to 70% LTV
Retail & franchising	Student and rental accommodation

Please remember commercial loans do not have stringent underwriting criteria. All cases vary and one lender may look at one risk differently from another. If you are in any doubt please contact us today on 0845 467 0127 quoting Wise Money)

Or for UK loans seekers looking for a fast online loan calculator BUSINESS FINANCE APPLY NOW please click here now