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Confused.com Expands Their Telematics Car Insurance Providers

Confused.com has added leading telematics brand, insurethebox, to its ever-increasing car insurance panel. insurethebox joined Confused.com’s collection of leading car insurance providers on Friday 25 May.

Confused.com’s car insurance comparison service makes it easy for customers to compare different policies, and the new relationship with insurethebox affords those shopping for insurance an even greater choice than before.

insurethebox specialises in telematics insurance, which is targeted at drivers who believe they can reduce their premiums by driving safely. This can be of specific benefit to young males, who traditionally have the worst driving record and consequently the highest premiums.

insurethebox is the fourth telematics provider to be added to the Confused.com panel, following Autosaint, Coverbox and AA Drivesafe.

Telematics enables personalised insurance based on the safety of the policyholder’s driving. This is measured using data gathered by a device which is fitted to the car. The device is about the size of a deck of cards, and gathers data such as mileage, when and where the car is driven and harsh acceleration and braking.

insurethebox policies are unique in a number of ways. The insured is limited to a maximum number of ‘policy miles’ which they can drive in a year – currently 6,000. Extra miles can be purchased or built up.

Data gathered is sent to insurethebox, which then rewards safe driving with up to 100 bonus miles every month. The better the driving, the greater the chance of premium reductions on renewal. The data can also be accessed online through a secure personalised portal, so that the driver can see how they have driven and learn where they need to improve.

As an additional safety benefit, the telematics device will inform insurethebox in the event of an accident, and the emergency services may be contacted where appropriate. The device also acts as a tracker, which can deter theft and locate the car in the event of it being stolen.

The Confused.com telematics page contains plenty of information, as does the Confused.com telematics FAQ page.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “For us, Confused.com customers come first. So we’re really happy to be able to offer them a greater choice and variety of policies.

“insurethebox are a market-leading brand with some really progressive ideas. Their telematics expertise is second to none, and we’re really glad to be able to add them to our impressive list of partners.”

Via EPR Network
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Payday Loans Paid Enter the UK Payday Lending Market

Paydayloanspaid.co.uk has entered the payday loans online market in the United Kingdom. With a team of financial experts who bring with them an inordinate amount of experience in the unsecured loans sector in the UK, they aim to bring something different into the challenging internet, payday lending sector.

Head of online operations, Jenny Statham explained, ‘’Many payday loan applications are declined from a number of the main lenders in the United Kingdom due to their reliance on passing one application. Our payday loans are slightly different in that we can use our strong relationships with some of the payday lenders to ensure the majority of the applications are approved.”.

Payday loans are a somewhat sensitive subject and have featured heavily in the mainstream British press in recent times, but it appears they could be featuring in the UK lending sector for some time. With some APR’s of payday loans surpassing 4 figures, they have – in some quarters – been rightly criticised. Jenny Statham added, ‘’ we try to make sure any potential applicant are fully aware of the associated costs that come with the payday loan agreement they enter into.  Our advice to people who are considering entering into a payday loan agreement with  a lender they have sourced through Paydayloanspaid.co.uk is to primarily focus on the repayment terms, if they are unable to meet the repayments costs then it is important they do not take on the payday loan.”

With a plethora of payday loan operators frequenting the internet it can be difficult to decide what lender to choose from.  Jenny Statham advised, ‘’if you are looking to secure a payday loan, it is important not to use the first lender you find. Spend some time researching the different providers to ensure you get the very best deal. As there are so many in competition with each other now, there could be some great deals to be found out there”.

Paydayloanspaid.co.uk is one of countless payday loan lenders in the United Kingdom in what some commentators are calling a ‘’saturated market”. They hope, however, to hit the ground running with an easy to use online portal, quality customer service and modest acceptance rates for new applications. Jenny concluded, ‘’we hope to attract people to our online portal who may not have used a payday loan, but have the capacity to service the loan, as new applications will typically have a greater chance of being accepted for a payday loan through our approval system”.­­­­­

Via EPR Network
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Confused.com To Offer Free Breakdown Cover With Any Van Insurance Policy

Confused.com is launching a new promotion giving away free breakdown cover with any van insurance policy purchased through the site.

The free breakdown cover includes up to two call outs for home assistance, within one mile of a customer’s home address; up to four call outs for road side assistance; payment for alternative travel up to £100 to the customer’s chosen destination; alternative accommodation up to £60 per person for one night and recovery for 23 foot caravans/ trailers.

Breaking down without cover could cost hundreds of pounds to be rescued. As purse strings are tightened and finances reviewed, drivers no longer need to think of breakdown cover as a costly extra due to Confused.com’s new promotion.

The promotion began on 6 June and will run until 31 July, so anyone buying a van insurance policy during this period will get free breakdown cover. Whether people are using their van for business or personal use, Confused.com searches the market’s top insurance providers to help them to find a competitive quote.

Confused.com’s van insurance covers small vans, medium vans, commercial vans, pickup vans and the commonly known transit van, offering a wide range of insurance cover for the customers various van needs.

The expert price-comparison site offers comparison on van insurance policies, allowing van drivers to get prices from 20 of the most competitive and market-leading brands, such as Aviva, Highway, Ageas, RSA.

A further benefit for buying van insurance from Confused.com is that any customer who buys any van insurance product through the website will receive 1,000 Nectar points, giving a little helping hand in these difficult times. All Nectar points will be awarded within the first 90 days of purchase and the points will go straight onto the customer’s card – so they can boost their Nectar balance by simply buying insurance.

Alex Higgs, Product Manager at Confused.com said: “As people’s purse strings are still tight, we want to help our customers save money, but also make their travel journeys as safe as possible. So by simply buying essential van insurance customers can help prevent themselves being left stranded on the side of the road by getting this free breakdown cover that we are offering in our new promotion.

“With our choice of cover options and our excellent value for money prices, we have a policy to meet the needs of every van driver. Confused.com is here to help customers get the right cover they need at the right price.

“Make sure you’re shopping around using a price comparison site like Confused.com as it allows you to not only check the price but also review the benefits you can get which you may not necessarily think about until you are in an emergency situation.”

Via EPR Network
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Confused.com Unveils Its Improved Motorbike Insurance Offering

Confused.com has teamed up with Vast Visibility to broaden its online bike insurance service.

Confused.com now goes to 35 insurers to compare motorbike policies for its customers. These include MCE, Bikesure, Carole Nash, and most of the other leading providers in the UK.

The motorbike insurance quotes service has been re-launched as a much slicker experience, helping to make it easier for bikers to find the right policy at the right price.

Confused.com compares policies for a range of motorbikes, including mopeds, scooters, classic motorbikes, sports bikes and quads and with every motorbike policy bought, customers can still claim 1,000 Nectar points.

Alex Higgs, Head of motorbike insurance at Confused.com, said: “We are delighted to be in partnership with Vast Visibility, working together to provide an even better service for motorbike insurance customers.

“We can now offer an even wider range of policies and a wider range of prices. With the list of questions nearly 20 per cent shorter, getting a quote through Confused.com is now easier and more intuitive than before. And, as ever, we will continue to make improvements.

“Having helped bikers compare insurance deals since 2008, we have a loyal base of valued customers, and hope to help an ever-increasing number of bikers save money in the future.”

The service shows prices for all three levels of cover – fully comprehensive, third party fire and theft, and third party only. This gives the customer even more information with which to make an informed decision. In addition, policy features can be compared side-by-side to aid with the decision of which policy to buy. At a glance, it’s possible to tell which policies feature helmet cover, breakdown assistance, legal cover and so on.

Once a bike insurance customer has compared policies with Confused.com, then comparing prices the following year becomes easier too. Confused.com sends the customer their best prices at renewal time, so they can see at a glance if it’s worth allowing their policy to renew automatically, or if they’d be better off comparing policies again.

Also, for the first time, motorbike insurance customers are able to complete their quotes over the phone. This is useful in case they get stuck, and means that it is now even easier to get quotes. Another way bikers could keep their motorbike insurance premiums down is to read Confused.com’s motorbike insurance articles, which are full of top tips and useful pointers.

Via EPR Network
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Confused.com Gives Away 5,000 Nectar Points with Every Life Insurance Policy

Confused.com has announced it is continuing its Nectar promotion with a new exciting twist; for every life insurance policy bought through Confused.com, 5,000 Nectar points will be given away to the policyholder.

Previously, Confused.com were giving away 3,000 Nectar points with every life insurance policy bought through the comparison website, but this has been extended to 5,000 points.

As of 1 June, 2012, any customers who buy a life insurance policy through Confused.com will receive 5,000 Nectar points.

Life insurance offers protection and support to family and loved ones if the worst should happen. By purchasing life insurance through Confused.com, customers are not only planning for the future, but will also get a little helping hand in these difficult financial times.

As well as giving away 5,000 Nectar points for buying a life insurance product, Confused.com will continue to give customers 1,000 Nectar points for every car, home, pet, bike and van insurance product they buy through the website.

All Nectar points will be awarded within the first 90 days of purchase. The Nectar points will go straight onto the customer’s card.

The Confused.com promotion not only gives customers competitive rates on all their insurance needs, but gives customers something back for their purchase.

Mike Hoban, Marketing Director at Confused.com, said: “After extending the Nectar giveaway which offered our customers the chance to get thousands of Nectar points by purchasing motor, home, life, bike and van insurance products we decided to increase the giveaway when customers purchase a life insurance product.

“Now customers can get 5,000 Nectar points as an added reward when they buy life insurance with Confused.com, which we hope will be a welcomed boost in these turbulent economic times.”

The 5,000 point Nectar promotion will also be supported by a TV advertisement, running from the 6 June, 2012. The new advert can be viewed at www.confused.com/cara

Via EPR Network
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Confused.com Reveals How Vain Brits Turn To Credit To Keep Up Appearances

Confused.com has revealed that forty per cent of Brits use their credit card to make themselves look good by buying beauty and grooming products.

When it comes to looking good, more than one in ten (11%) Brits regard fake tan as an essential expense.

Surprisingly, many men see image-enhancing purchases as something they can’t live without. For instance, 14% of men say waxing is an essential part of their grooming regime.

Across the regions, 10% of men surveyed from London say Botox treatment is a vital part of looking good. Meanwhile, 22% of men in the West Midlands believe a fake tan is a crucial part of sprucing themselves up – the highest of any region. In Wales, 23% of men surveyed say eyebrow shaping is an essential part of their grooming regime.

From the findings it appears image is everything for adults. 60% have bought clothing using their credit card, the most popular credit card purchase, while 28% have bought jewellery.

When it comes to who influences their appearance, almost a fifth (18%) of adults say celebrities affect the way they choose their look.

However, it is not just superstars that have a sway over people’s image. More than one in ten (12%) people say reality TV personalities from programmes such as ‘Made in Chelsea’ or ‘The Only Way is Essex’ influence their appearance.

Overall, Kate Middleton is the most popular celebrity icon for women, with 21% of females saying they would like to look like her. Cheryl Cole came in second place (18%), while Kate’s sister Pippa Middleton received 5% of the vote.

As well as using a credit card to obtain the perfect look, 28% of Brits polled spend on credit cards to treat themselves. Shockingly, more than one in ten (11%) believe spending on a credit card is easy money.

Nerys Lewis, head of credit cards at Confused.com, said: “Our survey suggests many Brits are using their credit cards to power an aspirational lifestyle fuelled by celebrity culture.

“A third (35%) of adults say they are spending more than they can afford this year, and it seems many are turning to credit when they haven’t got the cash or just fancy indulging themselves.

“All this spending has got to come at a price, however. We would urge people to think carefully about what’s essential versus what’s desirable when it comes to using their cards for buying things such as fake tan.

“People should ensure they have a solid plan in place for paying back any debt, and if anyone is struggling, they can speak to a specialist debt advice organisation such as Citizens Advice.”

Via EPR Network
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Bad Credit Rating Can Be a Symptom Of Identity Fraud

In 2012, we are more aware of the problems that arise from identity fraud than ever before, however a recent survey by loansforbadcredit.co.uk has suggested that we still do not fully understand the extent to which someone stealing our identity can affect out future chances of getting a loan.

Lead researcher, Peter Richardson, said “It is well known that most identity fraud cases are financially motivated. Fraudsters commonly open bank accounts, take out credit cards and attempt to take out loans using your name, address and history as a means of bypassing the credit checks. The result is potentially devastating to the victim’s financial affairs, however the biggest problem is the bad credit rating you could pick up along the way.”

Your credit rating is important, it’s the first statistic a lender will check when deciding whether to offer you that mortgage you urgently need, or that credit card you have applied for, even the new mobile phone contract you wanted. If you have a blackmark on your credit record due to a fraudsters activity you could mistakenly be refused finance, it is thought over 4000 UK residents have found themselves in this unfortunate situation.

LoansForBadCredit.co.uk have noticed a steady rise in applications for short term loans for people with a bad credit score, as a result of the economic climate and issues resulting from events such as identity theft the number of people with bad credit is trending upwards with no immediate signs of slowing down.

With identity fraud rising year on year, experts have advised people to be extra vigilant with personal documents such as bank statements and utility bills and regularly shred them. By protecting your personal information you can vastly reduce the chances of being victim to ID fraud in the UK, reports show that people earning above £35,000 a year and living in London are most at risk. If your credit record has been damaged it is recommended that you request your own file from one of the leading credit agencies and have any mistakes removed as soon as possible.

Via EPR Network
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Confused.com Becomes First Ever Brand To Use YouTube Slam And Gives Away £500

Confused.com has become the first ever brand to use YouTube Slam in its latest social media competition. The YouTube Slam competition is the final showdown of Confused.com’s latest social media campaign, the ‘5 second challenge’, where the British public were asked to showcase what they could do in 5 seconds to be in with the chance of winning £500.

YouTube Slam is one the most recent innovations from Google which allows users to create a video duel which the public can vote on.

Confused.com’s YouTube Slam will take place from midday on Wednesday 6 June till Friday 15 June 12pm. During this time, the public will get the chance to vote for the ultimate winner of Confused.com’s 5 second challenge. The entrant with the most votes in the Slam will receive £500 in prize money for themselves or a charity of their choice. Entries received include a woman removing her bra and a unique piece of art created in just 5 seconds and can be viewed at http://bit.ly/5secondchallenge when the Slam begins on midday Wednesday 6 June 2012.

This latest social media campaign forms part of Confused.com’s ongoing marketing strategy for QuickQuote. The campaign demonstrates the concept of time and what can be achieved in 5 seconds, a creative twist on the fact that the new groundbreaking Confused.com QuickQuote text message service allows customers to get a car insurance quote in seconds.

The progress of the ‘5 second challenge’ can be followed on the leader board on the Confused.com YouTube Slam page and the public can help decide who wins the competition by voting for their favourites. The winner of the slam will take £500 prize money.

Sharon Flaherty, head of content at Confused.com, commented: “It is now almost second nature for people to comment, like, share and vote in social media platforms. The popularity of programmes such as Britain’s Got Talent and The Voice also clearly shows that the public want to be able to affect the outcome of competitions, highlighting that interactivity is key to ensuring successful conversations with customers.

“As such, we have incorporated this into our social media strategy and are encouraging people to vote for their favourite video in our 5 second challenge on YouTube Slam. To see the video of their choice be crowned the winner of our YouTube Slam, viewers simply need to vote for their favourites and make someone a winner.”

Via EPR Network
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Confused.com Reveals Cost Of Back Seat Driver Distractions

Confused.com has revealed the true cost of giving friends and families a ride home. Two thirds (66%) of British motorists have been victims of unwanted attention from self-appointed back seat drivers, and almost 1 in 4 (24%) have been in an accident whilst dealing with the distractions of other passengers. These distractions mean that 20% of British motorists will have to fork out up to £500 to repair accidental damages ’caused’ by back seat drivers in their driving life.

The research from the car insurance experts also reveals that the worst backseat pests are bus drivers, train drivers and delivery men who obviously forget that they’re off duty. On the other hand, teachers are the most patient of passengers and put up with the driver’s bad habits.

When it comes to family life, most respondents confess that they would rather journey with colleagues than loved ones. This is because partners are the worst backseat drivers, with husbands and boyfriends disrupting the driver most often and 45% of them voicing their traffic-tips several times during the shortest of journeys.

Particularly bad at knowing when to keep quiet are parents who feature second on the list of frequent offenders (28%) when it comes to interfering from the back seat.

The most popular backseat gestures include the terrified grip-tightening on the door handle; the not-so-subtle glance at the speedometer or, the favourite of partners and parents across the country, the imaginary brake pedal push.

When it comes to the world of motoring, Confused.com revealed that unfortunately, stereotypes are surviving, with women and the elderly being the most likely to suffer from backseat bad manners. Over two thirds of women (68%), and a shocking 70% of drivers over the age of 55 find themselves on the receiving end of this bad etiquette. Especially patronising are comments about the speed of the car (24%) or their proximity to other cars (25%).

Gareth Kloet, Head of Car Insurance at Confused.com, said: “As motoring costs continue to rise at a meteoric rate, it’s never been more important for drivers to keep their costs as low as possible. Our research shows that having other people in the car can distract us from the road, and lead to accidents which in turn increase the cost of our car insurance policies.”

Jo Bryant, spokesperson for etiquette experts Debretts added: “If you’re a passenger in someone else’s car, your behaviour must be polite at all times, just as it would be if you were visiting their home. The Etiquette Guide for Back Seat drivers will ensure that every journey is courteous and civilised.”

Via EPR Network
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Cash Advances US Presents Installment Loans For Bad Credit

Being a reputable and trustworthy provider of online lending service Cash Advances US is being constantly developed by the professional and well-trained team of managers. Now the company is exploring the new ways to give people access to additional funds required in particular situations.

Today the company is proud to present a new product that is available even for consumers with non-perfect credit score and for those who find it difficult to repay the total amount of cash loan on the next payday. The service is called “installment loans”. This form of online cash advance is associated with the specific installment plan and consumers taking out this loan can pay it back according to the set terms.

The main feature of a newly announced product is its repayment terms which allow the borrowers to make partial payments during the particular period of time. Some customers say that this way they find it easier to manage their budget and this was the main reason for Cash Advances US to design the service. There are a lot of people who experience difficult financial times and the goal of the company is to provide an instant access to extra cash that may be paid off in parts releasing people from concerns related to monetary hardships.

Most consumers applying to Cash Advances US are using the obtained money to manage the short-term needs and even though the amount available for borrowing is typically less than $1,500 some people still consider that it is financially hard for them to pay back the total cost of the loan on the next payday. Thus, the direct lenders cooperating with the company suggested to perform the kind of payday advance that can be repaid in installments and may be helpful either for people with perfect credit or with the poor one. Now, the company offers its customers to try bad credit installment loans.

The application process for these short-term cash advance loans is absolutely the same. An individual willing to borrow some money in a form of installment loans for people with bad credit needs to fill in the online form presented on the website of the company. The loan amount and terms are to be negotiated with the direct lenders participating in the network of CashAdvancesUS.

The Managing Director Clare Miles said: “The aim of our company is to give people access to fast and affordable solution to their money-related problems. Thus, we do our best to develop an easy and hassle-free service that will satisfy any customer applying to Cash Advances US.”

Via EPR Network
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Confused.com Reveals Homeowners’ Most Expensive Possessions Are Not The Most Valuable To Them

Confused.com has revealed that homeowners’ most financially valuable possessions are not the ones which are the most precious to them. Computers and jewellery top the list of the most expensive items owned, but 74% of homeowners tell us that sentimental items such as photos, letters and drawings their child has done are more precious than their most costly items.

In a survey of 2,000 homeowners, Confused.com discovered that nearly three quarters said that the most financially valuable item they own is not the most precious item they possess, with photos being considered the most precious or sentimental items owned by UK homeowners.

Men differ from women with more men (29%) than women (23%) saying that the most financially valuable items they own are also the most precious to them, while women (47% compared to 34% of men) feel that photos are the most precious/sentimental items they own. The second most popular sentimental item for women is jewellery while the second most popular items for men are letters.

Older people (over 55s) are more likely to say that items inherited from a relative are among their most precious items but photos and letters are consistently precious across all age groups.

When it comes to insuring possessions, Londoners are most likely to take the gamble and fail to take out a home contents insurance policy: only 64% of Londoners who own their home tell us they actually have home insurance, compared to a national average of 80%. When it comes to 18-24 year-old homeowners, 16% of these do not even know if they have home contents insurance or not. 30% of 18-24 year-old homeowners say they don’t have a policy.

Despite such a large proportion of homeowners telling us that they do not bother with home insurance, 20% admit that they have been burgled in the past. Jewellery is the top item stolen by burglars, followed by items of sentimental value.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Home insurance and a good awareness of home security can help to keep property safe. Sadly burglary is a fact of life that one in five of homeowners who we surveyed had already experienced. While insurance cannot replace items such as photos, it is possible to name precious items (that have a value of more than £1,000) on your home insurance policy. This helps ensure that possessions such as jewellery or antiques or expensive technology can be replaced or compensated for in the event of a burglary.”

For more possessions research, Confused.com’s unique infographic can be found here:www.confused.com/news-views/infographics/what-items-people-value-more-at-home-sentimental-or-expensive.

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Confused.com Reveals Young Drivers Spending More Than 18% Of Their Annual Salary On Car Insurance

Confused.com has revealed young drivers are paying an average of £2,499 for their annual comprehensive car insurance. Meanwhile the older generation are statistically the cheapest to insure, with average premiums costing an average of just £440 per year for 66-70 year olds, the equivalent of around £1.20 per day.

With ONS figures revealing that the average income for 18-21 year olds in the UK comes to £13,972, when a young driver pays for their own car insurance this could swallow up more than 18% of their salary. For men of this age group it’s likely to be an even greater chunk of their salary as they try to afford premiums costing an average of £3,635 (compared to £1,869 for young women 17-20).

Older drivers are currently enjoying the lowest premiums, with drivers aged 71+ paying an average of just £436 per year. A combination of driving experience, likelihood to travel shorter distances and owning lower-powered cars can make older and retired drivers statistically a lower risk, despite the possibility that their reactions could be slower due to age.

Average costs dip significantly for drivers aged 36-40 with the average price coming in at £597, but rise dramatically again for 46-50 year-old drivers who pay an average of £733.

Gareth Kloet, Head of Car Insurance at Confused.com said: “Each age group is costed by their statistical risk and this includes the value of the car itself, the experience levels of the driver, past history and where they live among other factors. Younger drivers are hit significantly harder than more experienced motorists but Confused.com is working hard to find ways to help young drivers bring down the costs, such as working with telematics providers who offer a discount for drivers who can prove that they are safe on the road.”

There are however tips for younger drivers who are looking to reduce their car insurance costs which includes choosing a smaller and lower powered car, installing a telematics device and considering excess protection but as with any product or service, it pays to shop around for the best price by using a comparison site such as Confused.com:

Customers can access Confused.com’s car insurance price calculator, which gives data on regional prices, at www.confused.com/car-insurance/price-index.

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Confused.com Launches New Social Media Campaign

Confused.com is challenging the British public to show everyone what they can do in 5 seconds, coinciding with the launch of Confused.com QuickQuote.

This latest social media campaign forms part of Confused.com’s ongoing marketing strategy for QuickQuote, a new text message service which can return a motor car insurance quote in seconds. The campaign reinforces the importance of having a car insurance policy and how this can be achieved in seconds by using QuickQuote.

For the ‘5 Second Challenge’ Confused.com is asking people to upload videos of themselves to YouTube and show us what talent they can perform in just 5 seconds, with the winner receiving a prize of £500. The social media campaign demonstrates the concept of time and what can be achieved in 5 seconds, a creative twist on the fact that the new ground breaking Confused.com QuickQuote service allows customers
to get a car insurance quote in seconds.

The social media competition started at 9am, Wednesday 16 May and finishes 9am, Wednesday 23 May and will be supported through the use of YouTube, Facebook, Twitter and Pinterest. To enter the competition, the British public simply have to upload their 5 second talent videos to YouTube by 9am, Wednesday 23 May 2012 and either email the URL to 5secondchallenge@confused.com or tweet @Confused.com with their URL and the hashtag #5secondchallenge to be entered. Some examples of talent at Confused.com can be found at http://bit.ly/confusedtalent

The videos will then be entered into Confused.com’s YouTube slam, which will be found at http://bit.ly/5secondchallenge from 12pm Wednesday 23 May.

The Confused.com YouTube slam will begin at 12pm, Wednesday 23 May and will finish 12pm, Monday 28 May 2012.

Sharon Flaherty, head of content at Confused.com, commented: “We are encouraging people to vote for their favourite video in our 5 second challenge on YouTube slam. To see the video of their choice rise up through the leader board, viewers simply need to vote for their favourites. We are hoping to find out what else the British public can do. By simply entering, someone could win £500 just by performing for 5 seconds. Who knows, fame could come early for someone.”

Via EPR Network
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UK Payday Loan Study Predicts Increased Borrowing

A recent study by a loan comparison site, InstantApprovalPaydayLoans.co.uk (IAPL) has produced some interesting results concerning the usage of payday loans and the current market trend in order to predict future usage. Currently payday loans, also known as cash advances, are used by people in need of cash urgently. They are high interest, short term loans designed with ease of borrowing in mind.

Currently over 1 million people each year within the United Kingdom use payday loans to get access to instant cash, due to the economic climate and moves towards recession this figure is set to increase drammatically in the coming years. If existing trends continue it is predicted that by 2016 that over 2.1 million people will make use of a payday loan company, totalling over £2bn of combined borrowing. The majority of payday lending is carried out online on websites such as instantapprovalpaydayloans.co.uk which makes the process hassle free, however it is important that new borrowers realise the potential downsides to using this form of borrowing as expenses can spiral out of control.

Projections analyst at IAPL, Tim McGregor explained, “Although the forecast is for a steady increase in lending to occur throughout the UK the trend can be greatly affected by outside influences, for instance a stable economic recovery will significantly reduce the numbers of people borrowing with payday loans due to the positive effect of lowering the existing record-high unemployment figures.”

It is widely noted that a majority of people looking to get quick finance have a bad credit history, cash advances are often described as loans for bad credit however, as long as the borrower is fully aware of the contract they are entering in to with a payday lender and make repayments on time there will be no further problems.

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Paydayloansavailable.com Aiming to Decrease Application Times

Paydayloansavailable.com is the latest online payday lender to have adapted an online lending portal to service UK residents who may be in need of an unsecured lending facility. With the onset of broker style lending,  payday loans are now being processed online in the UK by many service providers using state of the art ‘’Pingtree” technology, working in unison with the UK’s leading payday lenders, and the application facility now being operated by Paydayloansavailable.com is certainly no exception.

The application harnesses secure technology to enable new and existing applicants to push their details through to a panel of lenders after submitting one application form online. The details are transmitted through to the lenders via the application and the subsequent decision is made by one of the chosen payday loan lenders. Jenny Davis, applications manager at Paydayloansavailable.com explained, ‘’we have decided to integrate a Pingtree style application within the site to give applicants a credible opportunity to access funds. The main advantage we have is that all of our applications are submitted to different lenders. The payday providers will then either accept the loan application based on the data that has been submitted, or it will be declined. Either way there is a reduced time implication which can only serve to benefit our customers”.

Online payday lenders are now entrenched within the UK’s unsecured finance sector and it is evident the increased competition has not always culminated in an improved service provided. But, Paydayloansavailable.com aims to at least serve their customers quicker than ever before, as well as giving them increased opportunity to secure short term, unsecured funding online. Jenny Davis added, ‘’there is still a real need in the UK for short term loans and unfortunately there is not the availability of funding through the mainstream lending channels. Whilst we do not condone irresponsible lending, it is important to acknowledge there is a need for credit and we hope to be able to provide an opportunity for finance”.

Paydayloansavailable.com is aiming to make an impact on the lending sector in the UK. Despite their relatively short time operating online, by implementing cutting edge technology into their service provision, they may well be making a positive statement of intent.

Via EPR Network
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Confused.com Revolutionises Car Insurance By Launching Quickquote Mobile Service

Confused.com the leading price comparison site is revolutionising the car-insurance price-comparison quote process by launching a new mobile phone service called QuickQuote.

This simple mobile quote service is available for UK based customers and cannot be found on any other price comparison site. Customers of Confused.com can get a motor car insurance quote and save money just by simply having a mobile phone.

Confused.com have worked with Process Flows a well-established SMS vendor to create the first mobile phone service that changes the way a car insurance quote can be returned. It’s the quickest way of getting a cheap quote when the renewal is due, or if people are just interested to see how much it would cost them to get insured on their dream car.

QuickQuote is an innovative way of allowing customers to get quick and easy car insurance quotes through their mobile phone. To use this simple service, the customer must have used Confused.com before. They simply text the number plate to 66800 and Confused.com will text back with the cheapest quote in seconds. Customers can get a quote for any car just by simply texting 66800 and it only costs £1 per text.

Once the quote is received via their mobile phone, the customer can also access it via their Confused.com account and will be shown the range of car insurance quotes which are available through Confused.com. Currently 130 insurers are available on their panel, offering the biggest car insurance comparison service in the UK.

The advantage of QuickQuote is that the customer’s details can be reused on subsequent occasions, saving customers the time and effort required to re-enter this information every single time they are looking to retrieve a quote on a vehicle.

Jeanette Fennell, Product Manager at business solution provider, ProcessFlows, developer behind the SMS technology driving the QuickQuote service said: “ProcessFlows was recommended to Confused.com. Our SMS technology is designed to meet the needs of large organisations who want to leverage the popularity of text to market and engage with an extensive audience in real-time. Confused.com continues to lead with innovative ideas that make shopping for car insurance quicker. I am sure this latest campaign will be very popular with consumers. Our technical director is already reviewing his car insurance after texting to QuickQuote.”

Mike Hoban, Marketing Director at Confused.com continues: “Confused.com revolutionised the search for car insurance 10 years ago through the launch of Confused.com. To follow on this success QuickQuote has been created to provide a quick and easy car insurance process which we have developed with Process Flows to help customers find cheaper car insurance and save them money. Conducting a car insurance quote can be a laborious task for motorists when it comes to buying or renewing their insurance. However with QuickQuote this will all change.

“With QuickQuote drivers can shop around and get the best quotes and hopefully save a hefty packet on the cost of car insurance in the process. For new car hunters it allows them to find out the kind of car insurance premiums that they could expect on a particular type of vehicle at any place or time; even on the vehicle forecourt, helping to make the big decision a little bit easier.”

Via EPR Network
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Credit Cards, Debts, Financial, Financial Information, Financial Services, Loans, Money

ComplexSearch.com Releases The 2012 Guide to Good Credit Score Ranges

ComplexSearch.com officially releases the “Good Credit Score Guide,” a number of credit score articles and a series of five credit score infographics designed to educate the general public.

Credit score number is crucial to your financial health, especially with just how much the average American relies on debt. With a poor credit score, consumers are more likely not to be approved for a loan or, if they do get approved, they are likely to pay more in interest charges.

“We’ve created our guide to help consumers manage their consumer credit,” says Nathan Richardson the founder of ComplexSearch. “That is why we put a whole host of files dedicated to helping consumers improve their credit score with simple – and free – how-to guide.”

Credit scores are becoming more ubiquitous in our daily lives with TV, online and various advertising mediums filled with companies offering free credit scores. “More and more companies are offering seemingly free access to your credit score, but what we’ve found is many of these companies are charging for services that essentially can be accessed for free,” Nathan continues. The credit guide also includes pitfalls and other various credit score scams to watch out for.”

The new guide to credit scores was previously released in 2011, and was updated for 2012 by talking with several credit experts. This new guide represents the latest information on the average credit score ranges.

About ComplexSearch
ComplexSearch is a personal finance blog dedicated to discovering the latest bank rates on savings accounts, certificate of deposits, money markets, credit cards and other deposit accounts. ComplexSearch also focuses on detailed reviews on the top banks in the United States and Canada, by aggregating reviews from several top resources online — this quick resource allows people to find the up-to-date bank reviews in 2012. ComplexSearch is also a provider of personal finance opinion and advice, offering new articles weekly.

Via EPR Network
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Confused.com Reveals That First-Time Drivers Prefer Smaller Cars

Confused.com has announced that, according to its recent survey, first-time buyers are becoming more savvy to the cost of cars; looking at the full cost of motoring rather than just the cost of buying a car.

Cars are one of the biggest expenses that people make in their life time, with 76% of respondents to the Confused.com survey stating this. However, people are having to compromise on the cars they drive. Big engines and car modifications no longer the new driver’s prerogative, due to the cost of insurance and overall rising cost of motoring.

According to Confused.com’s research, motor car insurance is viewed as a ‘huge expense’ by 66% of people. This is because the cost of an average comprehensive policy is £1,869 for women aged 17-20 compared with £3,635 for men.

Confused.com’s research showed almost 70% of people chose their first car with an engine size of 1.3 litres or less, with 15% of under 24s citing insurance cost as the main reason for choosing a care with a smaller engine.

To keep costs down, new drivers are opting for the Ford Fiesta, which was voted the most popular first car, followed by the Mini One, in the poll of 2,000 drivers (selected from a list of 52 different makes and models).

For a 17-year-old male to insure a Ford Fiesta Encore 1.3 litre engine, the insurance premium would cost on average £5,372.96. This compares with the cost for a first-time buyer purchasing a Volkswagen Golf GTI 2 litre engine, which would cost£12,144.75 for insurance cover. This is more than double the cost of insurance for a Ford Fiesta, the first-time buyers’ car of choice.

Gareth Kloet, Head of Car Insurance at Confused.com, said: “Car insurance is a huge purchase for young drivers. However, our research tells us that these drivers are adapting to pressures and opting for smaller, cheaper cars, in order to minimise their insurance premiums.

“Buying your first car is a really exciting purchase. For the first-time buyer, cost is an important factor with 50% saying that price affects their purchase, and 35% of first-time buyers paying £500 or less for their first car.”

To help young drivers, Confused.com advises them to first decide how much they can afford to pay for their first car; not just the sum to buy the car itself but also the running costs – insurance, MOT, vehicle excise duty, petrol, repairs and servicing. Confused.com encourages first-time car buyers to shop around on a price comparison site and add an experienced named driver onto their insurance.

Via EPR Network
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Payday Loans Specialist Strengthens Its Credentials As A Responsible Lender

WageDayAdvance, one of the UK’s leading online payday loans providers, has announced the appointment of a new risk analyst manager, as part of a move to reduce risk and promote responsible lending.

The company employs more than 150 people at its head office in Yorkshire, and helps people across the UK to find cost-effective borrowing solutions every day.

Abhishek Khurana, a specialist in risk analysis, will help the company to maintain and reinforce its reputation as a responsible lender. By drawing on his extensive experience in the financial analytic industry, Abhishek will work to improve WageDayAdvance’s ability to understand which customers can actually afford to borrow, and streamline the firm’s lending strategies. He will also help to make sure that successful applicants have agreements that fit their personal circumstances, allowing them to make affordable repayments on time.

Abhishek said: “I am delighted to join WageDayAdvance at this exciting time of their development. The company is now one of the leading payday lenders in the UK and is growing rapidly.

“I will be looking to build a high-performance analytics team that will work with each functional area within the business to build a set of standardised reports or dashboards, and analyse key information to provide usable insight into the business that can influence major management decisions.”

Abhishek is an MBA graduate from Leeds Business School and also holds a M.Sc. in Management Consultancy. He joined WageDayAdvance in March from The Lewis Group, where he was employed as a senior MI analyst. Abhishek has nine years’ experience working in analytics, collections and call centre environments.

Ross Chapman, Business Development Manager at WageDayAdvance, said: “We’re excited to have Abhishek as part of the team and know his experience is sure to prove invaluable in helping the company to further strengthen its responsible lending practices and ensure that we’re always providing a first class service for our customers.”

Via EPR Network
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Debts, Financial, Financial Services, Loans, Money, Personal Finance

247 Payday UK Launches New Payday Loans Website with a Conscience

Payday loans website, 247 Payday UK launched at midnight on April 24th 2012. The message is clear that this new online lending facility wants to be ”a little bit different” in comparison to other payday lenders currently operating in the somewhat saturated payday loans market within the United Kingdom.

With a new website fresh out of the wraps, a dedicated marketing team and an ethical approach to lending, it is hoped that the future could be bright for 247 Payday UK.

Richard Painter, 247 Payday UK’s operations manager explained, ”from the outset we have wanted to be clear with our customers around issues such as payday loan repayment costs and implications of taking on this type of loan arrangement”. Although the website is in its infancy 247 Payday UK has focused on transparency, providing a payday loans guide that Richard added, ”will continue to be built upon and developed over time to ultimately create a hub of information for new and existing customers”.

Richard has over 5 years’ experience within the UK payday market and stated that he has seen a shift in recent times to a more competitive sector, but would like ”more transparency and openness between the lender and the customer”.

His involvement with various payday loans operations all over the UK has enabled Richard to see the positive and negative aspects of the industry. Richard is clearly excited at being part of the new team and explained, ”we have sourced some experienced payday loan specialists, with a blend of youth and experience, to hopefully create a winning formula in helping to promote our fresh and innovative payday site”.

With 247 Payday UK coming into an already tough financial sector, it may well be a bumpy road ahead for Richard and his team. It is however evident that they are not attempting to reinvent the wheel, but to be open and honest with their potential customers and this could ultimately be a winning formula.

Via EPR Network
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