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Checking & Savings, Credit Cards, Financial, Financial Services, Insurance, Insurance Services, Loans, Money, Personal Finance

Molly Is The New Face Of M&S Pet Insurance

A beagle from South Wales is to become the new face of M&S Pet Insurance after winning a national competition to find a cat or dog with true star quality to feature in a future marketing campaign.

To enter the competition, which ran from April until the start of June, M&S pet insurance customers were asked to simply submit a photo and a few words about why their cat or dog is a star. Following the huge response to the competition and after some close deliberation by the judges, five-month-old Molly, who lives with The Mainwaring family in Blackwood, Gwent, was named the M&S Pet Star contest top-dog.

This means that Molly will now have a professional photo shoot and be featured in promotional material for a forthcoming M&S Pet Insurance campaign. The Mainwaring family will receive £100 worth of M&S vouchers. Sian Mainwaring said: “Molly is very mischievous and certainly has a mind of her own but we forgive her anything – most of the time. She means so much to us and it is wonderful that she will now be the face of M&S Pet Insurance.”

Amanda Newman, M&S Head of Marketing, said: “The huge response to the competition illustrates the fact that we are a nation of cat and dog lovers. It was wonderful to spend time looking through all the photos and reading why the cats and dogs mean so much to their owners.”

About M&S Money
M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc. The company is now a top ten credit card provider and the second largest travel money retailer in the UK. M&S Money also offers a range of insurance cover, including travel insurance, home insurance, car insurance, loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. The Group serves customers worldwide from around 9,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,527 billion at 31 December 2008, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.

M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.

Via EPR Network
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Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

CML Reported An Increase In Mortgages For Home Purchase In May, Up 4% From The Previous Month

Fixed rate mortgages accounted for 74% of all loans in the month, the highest share since August 2007.

Fixed rate mortgages

Encouragingly the CML predicted that lenders might become slightly more relaxed in the coming months following the introduction of some higher loan–to–value mortgages recently. This is backed up by the Bank of England’s recent Credit Conditions survey where lenders reported that they intend to increase lending at higher loan-to value ratios. This bodes well for first time buyers looking to get on the housing ladder.

This will be welcome news for parents who are still acting as an important source of help for young first time buyers. 80% of first time buyers under 30 are still getting help with a deposit from parents to enable them to get a mortgage.

Potential borrowers looking to get onto the housing ladder can see the range of leading deals at London & Country best buys and use a range of calculators to see how much they can borrow and what stamp duty will cost on potential properties at L&C Mortgage Calculators For more information and no-fee advice, borrowers can call free on 0800 373300 or request a call back.

London and Country Mortgages Ltd is the country’s leading whole of market no-fee mortgage broker and submitted over £4bn of mortgages to over 70 lenders in 2008. For more information visit our website London & Country Mortgages.

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers.

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Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Nationwide Has Hit The Headlines With News That It Can Offer Homebuyers A Mortgage Of As High As 125% Of The Property Value

This initially sounds like a return to the lending practices of the “pre-crunch years” and the now infamous Northern Rock Together mortgage. Whilst the Together 125% deal actually served some borrowers pretty well it has become synonymous with the carefree credit conditions of 2007.

lcplc

However when you look closely at the Nationwide proposition it is a world away from replicating the Northern Rock product. It is designed to help existing borrowers that need to move home but now find themselves in negative equity, as their property value has fallen to the extent that it is less than the outstanding mortgage.

Nationwide allows all existing customers moving home to borrow as much as 95% of the property value albeit at higher interest rates. In this scenario the borrower still needs to put in at least a 5% deposit but they can also borrow an amount to cover the negative equity, although this is charged at an even higher rate.

The reality is that this initiative will only have any relevance to a small niche of borrowers that really need to move, perhaps to relocate for a new job or to accommodate an expanding family. However it will at least provide an option to those that have a genuine need to move.

Borrowers looking to find out how much their current property is worth can use London & Country Mortgages house price calculator. They can then calculate their loan to value ratio (LTV) by dividing the current balance of their mortgage by the current value of their home. If this is over 100% they will have negative equity.

London and Country Mortgages Ltd is the country’s leading whole of market no-fee mortgage broker and submitted over £4bn of mortgages to over 70 lenders in 2008. For more information visit our website London & Country Mortgages

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers.

L&C has won numerous awards including:

Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards – 2008
Online Mortgage IFA of the Year – Financial Adviser – 2008

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Financial, Financial Services, Home Equity, Interest Rate, Loans, Money, Mortgage, Personal Finance

Best Buy Mortgages Are Available Under 3% Fixed For 2 Years And Under 5% Fixed For 5 Years

A number of factors have contributed to this. Firstly, it’s widely recognised that we are at or near the bottom of the interest rate cycle. Base rate could only fall by another 0.5% at most and in the May meeting of the Bank of England, base rate was held for the second month in a row. Consumers are looking to secure a fixed rate deal whilst rates are at their lowest. Best Buy Mortgages are available under 3% fixed for 2 years and under 5% fixed for 5 years. These fixed rate mortgage deals compare favourably with historical rates linked to lenders’ standard variable rates (SVR).

Best Buy Mortgages

Secondly there is widespread concern that when rates start to rise, they will rise sharply and so monthly repayments on mortgages linked to Bank of England Base Rate or a lender’s SVR will increase significantly over a short period of time. Securing a good fixed rate deal now will mitigate that risk.

Thirdly there is limited availability of mortgages for those with relatively small deposits (15% of house value or less) and so consumers in this situation are grabbing fixed rate mortgages whilst they still can.

Finally, as house prices have fallen, consumers have found that the value of their mortgage relative to the value of their home has increased. As the best fixed rate mortgage deals are available below 75% loan to value (ltv) it is sensible for consumers to fix their mortgage rate in case their property value falls further and the best mortgage deals are no longer available to them.

Potential borrowers wanting to secure a fixed rate mortgage deal can see the range of leading deals currently available at www.lcplc.co.uk/bestbuys. For more information and no-fee advice, borrowers can call free on 0800 373300 or request a call back.

London and Country Mortgages Ltd is the country’s leading whole of market no-fee mortgage broker and submitted over £4bn of mortgages to over 70 lenders in 2008. For more information visit our website London & Country Mortgages. L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers.

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Banks, Checking & Savings, Financial, Financial Management, Financial Services, Financial Solutions, Insurance, Insurance Services, Loans, Money, Personal Finance

Lloyds TSB Insurance Reports Over 50s Driving Down Crime Rates

Lloyds TSB Insurance has conducted a new study that shows community-minded senior citizens are creating ‘safe havens’ with the lowest crime rates in the country.

Lloyds TSB Insurance, the home and car insurance provider, has revealed that Britain’s emerging ‘safe havens’ include North Norfolk, Berwick-upon-Tweed and West Somerset, which experience half the crime suffered in other parts of the country and whose population includes more than two in five people (43 per cent) over the age of 50.

Rates of burglary and malicious property damage are particularly low in these ‘safe havens’, running at around 40 per cent less than national levels.

The study suggests that low crime is promoted by the community-orientated mindset of older people. The over-50s are five times more likely than the under-35s to know their neighbours personally and are far more inclined to report suspicious behaviour in their area.

This anti-crime ‘halo’ created by older people is aided by much higher membership of community groups. One in six (16 per cent) are active in Neighbourhood Watch schemes, compared to a tiny proportion of those in their twenties and thirties (5 per cent).

The waning community spirit of younger Britons is explained in part by more transient, urban lifestyles. Many young people say they see “no point” in getting to know their neighbours and a hard core of one in twenty Londoners (7 per cent) has never met or spoken to anyone who lives nearby.

Phil Loney, managing director of General Insurance at Lloyds Banking Group said: “Our findings demonstrate that younger people aren’t as community-minded as their parents and this mindset can have a big impact on safety and security in our neighbourhoods.

“Young people can learn a huge amount from the older generation about security consciousness. Taking a little time to look out for other people’s property and reporting anything suspicious can have a huge impact on burglary rates and anti-social behaviour.

“We’ve spoken to some security conscious over-50s and have published some of their security tips on our website.”

All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2017 adults. Fieldwork was undertaken between 27th-29th May 2009. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+). YouGov research questioned 18-35 vs. 50+ age cohorts. 4 per cent of over-50s know none of their neighbours personally, compared to 20 per cent of 18-35 year olds

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, travel, home insurance, cheap car insurance, personal loans and credit cards, competitive home insurance quotes investment and cash ISA accounts designed to meet different customers’ needs.

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes. Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065.

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Financial, Financial Education, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Loans, Money

National Lending Associates, Inc. Launches the TuitionFlex Program

National Lending Associates, Inc. (“NLA”) is formally announcing today the launch of its TuitionFlex SM tuition payment program. The TuitionFlex Program is a highly flexible and customizable tuition payment program for schools and colleges which currently do or do not offer this low cost financing option to their students and families. TuitionFlex is designed to be compliant with all federal and state Truth-in-Lending disclosure requirements. This turn-key program features a branded on-line application process, electronic signature, customizable reporting, automated payment processing and flexible servicing repayment terms.

“NLA is excited to launch this additional financing option for schools and colleges while leveraging the experience and expertise of our management team.  Our TuitionFlex Program was created as an alternative higher education financing option, which enables institutions throughout the country to provide effective financing solutions for their students during a time of economic uncertainly and limited private financing choices ” states Douglas Feist, Chief Executive Officer of NLA.

The TuitionFlex Program offers payment products aimed at providing tuition financing solutions for K-12 schools, colleges, and universities. With its TuitionEase™ (less than 12 months), TuitionExtend™ (contracts greater than 12 up to 120 months), and soon to be launched TuitionExtend Plus ™ (contract purchase option) products, the TuitionFlex Program provides alternatives to meet the current demands of all educational institutions.

For more information on the TuitionFlex Program go to www.tuitionflex.com or contact Tim Kulesha at tim.kulesha@NLALoans.com (602) 579-6555.

About National Lending Associates, Inc.
Based in San Diego, California, with offices in Ohio, Arizona, Georgia, Pennsylvania, and New York, National Lending Associates, Inc., is a nationwide specialty service company focused on providing financing solutions, loan and portfolio administration services, and technology options for the education financing marketplace (www.nationallendingassociates.com ).

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Business, Checking & Savings, Credit Cards, Financial, Financial Information, Financial Services, Interest Rate, Loans, Money

Rate Tarts Are In A Jam As 2 Million Balance Transfer Applications Are Rejected

The latest credit card market analysis from uSwitch.com, the independent price comparison and switching service, reveals that almost 2 million consumers have been rejected for balance transfer deals in the last year. This represents 57% of all credit card rejections, forcing these consumers to fork out £535 million in interest payments in the next 12 months as they are unable to switch to a new provider. In total, £3.5 billion of credit card debt is now stuck on interest bearing credit cards as consumers cannot switch to their next 0% deal.

Across all types of credit card, more than one in ten consumers, totalling 3.32 million, has had an application declined in the past twelve months. This is a clear sign that providers are still acting on the air of caution and only lending to those with a squeaky clean credit record. This is a huge problem in the credit card market, particularly for rate tarts. In 2008, consumers carried out an average of 650,000 balance transfers every month. For many people, the 0% party really is over as they have reached a dead end.

Alongside a drop in acceptance levels, the number of balance transfer deals available is also a problem for consumers. There are now 178 balance transfer credit cards, representing 74% of all credit cards compared to 204 this time last year. The biggest casualty of this has been the 10 month deals which have fallen by 83% to just 1 deal.

With just one provider, Virgin, offering a 16 month 0% balance transfer deal, consumers are pushed towards the more popular six month balance transfer deals which represent a third of the market (33%). However, with the average balance transfer fee currently at 2.9% consumers will have to pay £54.09 on the average balance of £1,846. Unless consumers are planning to pay the credit card balance during the six month offer period, this could be a costly way to move money around.

Louise Bond, personal finance expert at uSwitch, comments: “We can’t ignore the fact that the country is in economic turmoil – a situation which has been catalysed by bad consumer credit. The knock on effect for credit card customers is that those with a less than perfect credit history could find themselves being turned down for the next best 0% deal, forcing them to pay interest. This is a huge problem for switchers as these people have accumulated debt based on the fact they do not have to pay interest on it.

“The knock on effect of rejected credit applications is that it will appear on your credit report and, in the long term, have a negative impact on your score. With this in mind, it’s important to check your report before applying for products to make sure you stand a good chance of being accepted – constantly reapplying to different suppliers will make the situation worse. If you can’t get another credit card, think about using a 0% overdraft, an unsecured personal loan or, if there are no other options and debt is getting out of control, speak to your provider or seek professional advice.”

Bond’s credit card tips:

• Check your credit report before making any applications for credit.

• If you are rejected for your next credit card, do not any further applications until you have checked your credit record. Failed applications for credit will have a negative impact on your credit score.

• You must also close down any credit card accounts you are not using. The available balance on these accounts will be taken into consideration when you are applying for a new card.

• Missed credit card payments also impact your credit score, the best way to avoid this is to set up a monthly direct debit for the minimum payment.

• If you are not planning to pay the balance off in full during the 0% balance transfer period you should consider life of balance cards. This will provide one low rate of interest for the entire time the balance is on the card.

• Depending on which issuer your balance transfer card is managed by, you may not be allowed to switch your balance to another card within the same group. By using uSwitch.com’s balance transfer tool, you will only be allowed to apply for cards that are available at you.

About uSwitch:
uSwitch.com is a free, impartial online and telephone-based comparison and switching service, helping consumers compare prices on gas, electricity, water, heating cover, home telephone, broadband, digital television, mobile phones, personal finance products and car insurance.

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Checking & Savings, Debts, Financial, Financial Management, Financial Services, Financial Solutions, Loans, Money, Personal Finance

Saving & Debt: Base Rate Should Not Discourage Caution

Commenting on the recent spate of base rate cuts – and the resulting 0.5% base rate – financial solutions company Think Money pointed to the potential implications of the Bank of England’s actions over recent months, and urged savers not to risk debt problems by turning their backs on saving.

“In the short term,” a Think Money spokesperson began, “it’s important to realise that many people – the vast majority of the country – haven’t benefited from these cuts in any way at all. A full 50% of the UK’s 11.75 million mortgages are fixed-rate deals, 40% tracker and 10% SVR (standard variable rate).

“Clearly, anyone on a fixed-rate mortgage won’t benefit any more than someone who’s renting their home. As for SVR deals, lenders aren’t obliged to pass on any reductions, and many have passed on only part of these cuts. Even people on tracker deals haven’t universally seen their interest rates drop by the full 4% since October, as many of those deals have come up against their collar.”

In the longer term, there’s the question of what lessons people will take with them once the recession is over. Many people on fixed-rate mortgages will be looking at the low rates on offer today, calculating how much they could save if they switched and comparing this against the cost of the early repayment charges they would pay if they left their current mortgage early.

“In future, they may be unwilling to sign up to fixed-rate deals – or at least reluctant to sign up to the longer-term fixed-rate deals which come with more substantial charges for early repayment.

“In other words, some may be tempted to sign up to a tracker or SVR deal the next time the base rate reaches 5 or 6%, believing that another fall will soon follow. There’s nothing inherently wrong with variable deals, but they’re not suitable for everyone: people whose monthly finances can only just cover their mortgage payment should think very carefully before committing themselves to a deal with an interest rate that could go up as easily as down. For people in that situation, erring on the side of caution – and taking a fixed-rate mortgage – could be far more sensible.”

The other long-term effect of these base rate cuts, of course, could be in the country’s attitude to savings. Now that the average interest rate on instant access accounts has plummeted to little more than 0%, interest is simply not keeping pace with CPI (Consumer Price Index) inflation – and for people who aren’t paying variable mortgages, this figure is more relevant than the RPI (Retail Price Index) measurement.

“We would, however, stress that interest is by no means the only reason people should build up their savings. With or without interest, a savings account is its own reward, helping people cope with financial challenges without running into debt problems.

“Even so, the thought of watching savings shrink in real terms may be enough to put many people off saving in a standard savings account. This could be terrible news: whether they stop saving altogether or feel they need to ‘gamble’ their money in higher-risk investments, they could be leaving themselves open to all kinds of debt problems in the future.”

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Banks, Credit Cards, Financial, Financial Services, Loans, Money, Personal Finance

Barclaycard Announces The Conclusion Of A Project To Create A New Range Of Corporate Imagery, Whilst Simultaneously Fostering Some Of The Best Up And Coming Talent In The UK Industry

Barclaycard undertook a project to hire four semi-professional photographers in order to create a new set of imagery that moved away f r o m the traditional metaphors and financial services conventions.

barclaycard

Unusually for a big business, when Barclaycard realised it needed fresh creative images to sit with the new visual identity, and its customer promise, “One Step Ahead”, it decided to bypass the usual route of enlisting established corporate photographers. Instead the credit card and payment acquiring business set up a new programme to uncover some of the most talented semi-professional photographers and help them to get their career on the road.

The four photographers chosen – Australian Noel McLaughlin, Russian Natalia Urazmetova and fellow Brits Stuart Hendry and James Ellerker – were tasked with producing shots around a central theme of liberation that were warm and had a natural feel. The brief requested genuine situations with real people and with a clear focus on a key moment within the image.

Sharon Zimmerli, Senior Design and Identity Manager, Barclaycard said: “Our image content needs to remain optimistic and positive and must be intelligent and imaginative enough to engage our audience. By entrusting our brief to photographers who are inventive and talented, but not yet accustomed to the conventions of corporate photography, we were able to create fresh and engaging imagery to fit with our brand.”

The project was in many ways inspired by the success of social media photo sharing site flickr. When Barclaycard sourced notional images to demonstrate the style of photography which fit best with the new visual identity, most of the images that were deemed a neat fit were f r o m flickr.

About Barclaycard 
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed. The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards and charge cards to business banking customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer its customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

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College Finance, Financial, Financial Services, Loans, Money

If You’re Looking For A Good Deal On A Payday Loans, Quick Cash Advance And Personal Loan Then You Are In The Right Place!

Indiana Campaign Finance (ICF), expert providers of payday loan solutions, recently announced an expansion of their current offerings to include the Go Faxless Payday Loans service. Available online, the no fax payday loan option creates a seamless way for individuals to achieve their short term loan goals.

“The Go Faxless payday loan service is just one more way we help our clients reach their goals. Most applicants receive their cash within 24 hours of submitting the easy to use payday loan form”, ICF, CEO of Indiana Campaign Finance stated. See also Home Loans Online

The requirements for ICF’s Go Faxless Now are simple. Applicants are required to maintain a job or provide proof of stable income such as payments received through employment, social security, retirement, or state support. See Student Loans Now Applicants must also be 18 years of age or more and have an active savings or checking account. The checking and savings account information is used exclusively for the payday loan deposit. The ICF website gathers the required information through a secured online form which is then sent for review. Fast Personal Loans see also.

With the Go Faxless option, ICF lenders deposit the money approved applicants request directly into their checking accounts within hours of application submission. In return, the loan amount and any associated fees are repaid by ICF lenders through funds withdrawn from the same savings or checking account of the applicant. The loan repayment typically occurs 2 weeks after the applicant has received their funds, although loan repayment extensions and other loan terms may also be available. Mortgage Loan and Bad Credit Loan is ok!

The faxless payday loan service is available to consumers nationwide 24 hours a day, 7 days a week via the ICF website. For more information or to submit a faxless loan application visit ICF online at our site.

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Banks, Credit Cards, Financial, Financial Services, Loans, Money, Personal Finance

Barclaycard Has Revealed That Spending On Mother’s Day Gifts Was Down In 2009 When Compared To The Year Previous

The data from Barclaycard Payment Acceptance, which enables retailers to accept payments from both debit and credit card, confirms that families across Britain are opting for less expensive gifts for Mother’s Day in the current economic climate.

Spend on flowers was down 15 per cent in the two weeks leading up to Mother’s Day this year compared to the same period last year while spending on chocolates was up 23 per cent compared to last year, suggesting that people are managing the expense of special occasions by purchasing more economic gifts rather than expensive floral presents.

Restaurants and jewellery shops were the least affected with spending almost identical to last year. Treating mum to lunch remains a popular gift, with spending in restaurants up slightly (0.3 per cent) compared to last year. Jewellers saw a very small increase in spending in the two weeks leading up to Mother’s Day, with sales up 0.1 per cent compared to the same period in 2008.

Commenting on the data, Stewart Roberts, Business Development Director at Barclaycard said: “People don’t want to let special occasions pass them by without buying a present of some sort but what we are seeing is that children are opting for a less expensive gift rather than the more extravagant floral arrangements in these tough times.”

These figures are taken from Barclaycard Payment Acceptance data from March 2008 and March 2009. The figures relate to spending on certain products and services usually associated with Mother’s Day: The year-on-year comparison figures relate to spending in the two weeks prior to Mother’s Day 2009 and the corresponding period in 2008. The restaurant comparison covers Mother’s Day 2009 spending compared with 2008.

About Barclaycard:
Barclaycard, part of Barclays Global and Retail Commercial Banking division, is a leading global payment business which helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

The company is one of the pioneers of new forms of payments and is at the forefront of developing viable contactless and mobile payment schemes for today and cutting edge forms of payment for the future. It also issues credit cards and charge cards to business banking customers and the UK Government. Barclaycard partners with a wide range of organisations across the globe to offer their customers or members payment options and credit. In addition to the UK, Barclaycard operates in the United States, Europe, Africa and the Middle and Far East.

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Banks, Financial, Financial Services, Home Equity, Loans, Money, Mortgage, Personal Finance

It May Still Be Some Time Before The Bank Of England See The Need To Raise Interest Rates, But With The Cost Of Funding Fixed Rates Pre-Empting Any Change In Bank Rate, There Are Already Signs That Fixed Rates Could Cost More

The cost to lenders to fund some fixed rates isnow higher than earlier this month despite the introduction of quantitative easing measures, which it was hoped would help reduce borrowing costs, and this has already had some knock on effects. Less than two weeks ago, the cheapest 5 year fixed rate was a fantastic 3.95%, one of the lowest 5 year fixed rate mortgages seen in the UK. However, today, the best you can achieve is 4.24%, still attractive but an increase that will cost a borrower with a £200,000 interest only mortgage an extra £2,900 over 5 yrs.

These headline grabbing rates are also usually reserved for borrowers who have at least 25%, and often 40% equity in their homes, and as house prices continue to fall, fewer homeowners will qualify.

Those borrowers that don’t qualify for the lowest rates face a very difficult decision. Do they take what is historically still a competitive fixed rate, or do they save money now and stay on their lenders standard variable rate (svr). If they opt for the svr they are likely to see their equity eroded further, and run the risk that fixed rates in the future could be considerably higher.

Many lenders will not lend to borrowers with less than a 15% stake in their home, so fixed rates are harder to find. Richard Morea from London & country Mortgages advises, ‘Whilst it’s unlikely that rates will climb steeply in the near future, a combination of any rise, and the continued erosion of equity mean that whichever rate you qualify for, now is the time to consider a fixed deal, and take action to secure it!’

For more information and no-fee advice, borrowers should call free on 0800 373300.

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. For more information, go to www.lcplc.co.uk/green

L&C has won numerous awards including:

Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards – 2008
Online Mortgage IFA of the Year – Financial Adviser – 2008

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Banks, Debts, Financial, Financial Services, Foreclosure, Home Equity, Loans, Mortgage

Stop Foreclosure On Your Home, Work With A Loan Modification Specialist

The HRP Office, www.hrpoffice.com, is open in Surfside Beach, South Carolina and ready to assist clients with their mortgage needs. The owner, Dr. Michael W. Cantrell, Sr. and his staff are experienced loan modification specialists. Their long time strong relationship with most major banking institutions enable them to work faster, smarter and less expensively than other loan modification companies. Clients of HRP, LLC quickly come to recognize them as the experts in helping them get their loans successfully modified.

What kinds of situations can the HRP Office, www.hrpoffice.com, help their clients with?

Homeowners who are behind on their mortgage payments
Homes currently in foreclosure 
Homeowners have an ARM that has adjusted higher or will adjust higher in another month or two
Homeowners who have a legitimate hardship
Reduced income, reduced hours, pay cut, loss of job, relocation, demotion
Homeowners who went on Disability or Workers Compensation
Divorce/Separation
Excessive medical bills
Back taxes that are currently being paid back 
Death of household provider
Failed business

The staff at HRP, www.hrpoffice.com, guarantees their services 100%; they are an industry leader in loan modifications. With a staff of licensed attorneys as well as experienced processors and negotiators, they work together to handle each and every case with the utmost care and concern. Lenders have very specific guidelines that must be met before they will agree to modify a loan. HRP knows what those guidelines are and how to get their clients the very best possible option available. They work for the homeowner, not the lender, so your best interests are their main concern.

What can the HRP Office, www.hrpoffice.com, do for their clients?

Pre Qualify a case at no cost to the homeowner
Provide the homeowner with access to their account online 24/7
Prepare a comprehensive modification package to best position each case for success
Engage in hard line negotiations with lenders to ensure the best possible outcome for their clients
Stop collection calls on overdue mortgage payments
Postpone imminent sale dates so the homeowner can breathe easier

Custom Analysis for Each Client
The staff of the HRP Office, www.hrpoffice.com, understands that everyone’s financial situation is unique, which is why they offer comprehensive, personalized, and proven modification programs that get results. The legal experts at HRP understand the importance of providing individual services that are tailor made to effectively meet the personal financial needs of their clients.

100% Guarantee
Dr. Michael Cantrell and his staff take pride in their level of service and client support and are committed to providing the most rewarding experience possible. HRP’s, www.hrpoffice.com, web-based software allows their clients to have access to their account 24 hours a day 7 days a week. People can check the status of their loan modification case at any time. Clients can also contact their HRP team members via email, fax or phone at any time. Dr. Cantrell had this to say about HRP “Our specialized attorneys, paralegals, negotiators, processors and customer service professionals are unmatched. We provide customized, personal attention to your individual situation and we emphasize customer support and long term solutions for you. Simply put, we strive to provide the best customer service in the industry, and our results-oriented negotiators take pride in consistently meeting and exceeding our client’s expectations. Ultimately, we provide clients with renewed financial optimism and a valuable savings of time and money. In addition, our company has the resources, banking relationships, ethical standards and legal expertise that other companies cannot offer which can translate into significant benefits for our clients.”

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Debts, Financial, Financial Management, Financial Services, Home Equity, Loans, Money, Mortgage, Personal Finance

Mortgage Debt: Comment On Housing Equity Injection

Responding to news that homeowners had injected a record £8 billion into housing equity in the final quarter of 2008, debt management company Gregory Pennington stressed that this reversal of a long-term trend was due to a combination of factors, rather than any single event.

“Prior to Q2 2008,” said Melanie Taylor, Head of Corporate Relations for Gregory Pennington, “the last time we saw homeowners injecting money into housing equity was in Q2 1998, when they injected £279 million – a mere 3.5% of the amount injected in the final quarter of 2008.”

In the decade following 1998, of course, the average house price virtually tripled, which obviously enabled millions of homeowners to turn many billions of housing equity into cash. The highpoint of this occurred in Q4 of 2003, when £17 billion of equity was withdrawn – a full 8.5% of post-tax income.

A full decade of rapid price rises meant that homeowners were both willing and able to keep on withdrawing equity for some time after the house price boom came to an end in 2007: it wasn’t until the second quarter of 2008 that equity injections began to outweigh withdrawals.

“Standing at £1.8 billion in Q2, quarterly equity injection rapidly soared to the record level of £8 billion by Q4 – thanks to a falling base rate and a faltering housing market, as well as worries about the recession in general.

“Plummeting from 5% to 2% in Q4 alone, the falling base rate had two crucial effects on the way homeowners treated their mortgage debt. First of all, it helped people find new deals with lower monthly payments, and enabled people with existing tracker and SVR mortgages to overpay their mortgages without spending more than they were used to. Second, it led the banks and building societies to drop the rates they were paying on savers’ accounts. Many people looking for the best return on their ‘spare’ money realised that overpaying their mortgage would be much more valuable in the long run than putting their money in a savings account.

“Looking beyond interest rates and house prices, the recession itself has prompted a more conservative attitude, particularly among people who’ve experienced recessions in the past. The news has been full of repossessions, redundancies, ‘awful’ economic conditions – and a succession of dire predictions from a wide range of respected bodies, making it clear that things were expected to get a lot worse before they got better.”

Whatever the reasons, overpaying the mortgage can deliver various benefits: “Aside from reducing the amount of interest they’ll pay over the lifetime of the mortgage, overpayments can also shorten the actual term of the mortgage, meaning the homeowner will own the property outright sooner than initially expected. There’s also the question of reducing their mortgage debt and increasing the equity in the home, which can give homeowners access to mortgage deals with much lower interest rates – something which many will be keen to do as soon as possible, before the base rate has a chance to start rising again.”

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Debts, Financial, Financial Management, Financial Services, Loans, Money, Personal Finance

The Importance Of Getting Debt Help At The First Sign Of Financial Difficulties

Debt management company Gregory Pennington has emphasised the importance of getting debt help at the first sign of financial difficulties, following research showing that the average UK worker spent the first 83 days of 2009 earning just enough to cover the interest on their debts.

Unbiased.co.uk have said that March 25th was this year’s ‘Debt Freedom Day’ – a theoretical date on which the average UK worker’s earnings have covered the amount they will pay in interest on their debts (not including mortgages) over the course of the year.

The date came more than two weeks later than last year’s Debt Freedom Day, which fell on Ma rch 2nd 2008. This means that debt levels amongst people in the UK have risen, despite increased caution amongst lenders.

Unbiased.co.uk’s figures showed that personal loans borrowed in 2008 amounted to £11.6bn in 2008 – up by more than £1.6bn on the previous year. Meanwhile, mortgage debt from equity release loans increased by £6.5 billion. Debt on credit cards, however, fell by £4.9bn.

A spokesperson for Gregory Pennington commented: “We can look at lending figures from recent years and see how much personal debt has risen, but the amount of time it can take to repay the interest on those debts may surprise some borrowers.

“It’s also worth remembering that this is before the borrower has started repaying the actual debt, which suggests that a lot of people may be spending a considerable proportion of their annual income repaying debts.”

Debt Freedom Day works on a similar basis to ‘Tax Freedom Day’, recorded by the Adam Smith Institute, an economic think tank. Last year’s Tax Freedom Day fell on June 2nd – meaning that if these figures are combined, the average UK worker spends almost three quarters of their annual income on tax and debt interest.

The Gregory Pennington spokesperson said that the figures not only show how much the average UK worker spends on debt interest each year – they also show how much better off they could be once those debts have been taken care of.

“Especially in difficult times for the economy, reducing debt can ensure that people are well-prepared for what the future may hold. If costs begin to rise sharply, or any other unexpected financial events occur, people who are in debt are more likely to struggle. If that results in the borrower missing debt repayments, the situation can become quite serious.

“The fact that interest rates have fallen sharply in recent months will help some people – particularly those who have experience a fall in their mortgage costs – but for situations that have become more serious, finding the right type of debt management could make a big difference.

“We advise anyone who is struggling to repay their debts to seek professional debt help at the first sign of difficulty. A debt adviser can discuss the borrower’s situation in confidence and, if necessary, recommend a suitable debt solution for their personal circumstances.”

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College Finance, Financial, Financial Services, Loans, Money

Indiana Campaign Finance Announces Payday Loans

Now, through Indiana Campaign Finance — fast payday loans — from the convenience and privacy of your desktop. No fooling — there’s no faxing. Just quick funding. No tedious, time-consuming, paper-greedy processes to hold you back or tie you down from the solution that awaits you, thanks to Indiana Campaign Finance.

ICF knows that some situations call for a fast and trouble-free fix, so our knowledgeable experts have created the online No-Fax Payday Loan, for the fastest prescription for your short-term financial crunch.

For those urgent, worrisome times when “help can’t wait,” Indiana Campaign Finance (ICF) can come to your rescue. home loans ICF isn’t just any port in the storm — it’s your modern-day solution for modern-day financial woes. Use fire to fight fire — apply for your ICF Payday Loan, and get help, fast.

Apply for an easy, fast ICF student loans or Payday Loan online and get your money deposited directly and conveniently straight into your bank account, with no faxing or intervention required. No anxiously waiting for mail deliveries that might get held up or misdirected – you’ll be the first to know when help has arrived, not your mail carrier.

If you can type, ICF can help — it’s just about that simple. Armed with just your paystub and the privacy of your computer, you can truly feel better fast by attacking what really needs to be done: dealing with urgent debt and quieting creditors through help from ICF.

Now is the time to exchange desperation for relief — why wait? ICF is on your side. — or can be, as soon as you say the word. 

Don’t hesitate to turn to ICF for help — with financial debt, like a hole in the roof, things will only deteriorate the longer you wait. 

Act now to stop your expensive debts from getting even bigger. With the savvy and sympathetic staff at ICF, there’s no need to wait or hesitate.

Afford yourself some urgently needed peace of mind: with a quick-fix remedial Payday Loan from Indiana Campaign Finance, you can buy yourself some breathing room to think straight and fly right. Apply For the ICF No Faxing Payday Loans Online And Get Your Loan Now! Indiana Campaign Finance Payday Loan online applications are at your fingertips, at http://www.indianacampaignfinance.com/loans/payday-loans.html.
Remember, the sooner you apply, the sooner you’ll breathe easier. See also : auto loans, bad credit loans

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Financial, Financial Services, Home Equity, Loans, Money, Mortgage, Personal Finance

Fixed rate mortgages are low, particularly for those with at least 25% equity, but will they/can they get any cheaper?

Tracker mortgage rates mirror any change in bank rate, but with mortgage lenders increasing tracking margins, and with bank rate at 0.5%, have you missed the boat?

Unusually, standard variable rates may also look attractive, but are lenders passing on any change in interest rates, as they struggle to retain savers?

If you are unsure what to choose, here are some L&C tips on how you could hedge your bets.

A mix and match mortgage is where you take part on a variable rate and part on a fixed rate. This gives you some security but will also mean you don’t completely miss out if rates fall again. The downside is that you’re likely to pay an arrangement fee for both schemes.

Drop lock mortgages, offered by lenders such as Halifax, Nationwide and C&G, allow you to take a tracker deal, but switch to a fixed rate in the future without penalty.

This might seem the perfect solution but timing your switch will be tricky, and is likely to involve your home being revalued. With house prices continuing to fall, a revaluation could see you move into a higher loan to value band with higher rates, so even if fixed rates generally fall, you could end up paying more. Any switch is also likely to mean a new arrangement fee.

You could also consider a capped tracker mortgage. The tracker means you don’t miss out on interest rate cuts, and adding a cap means there is a maximum rate you can pay, so if rates rise above the cap, you don’t need to worry.

The Coventry and Yorkshire Building Societies and Woolwich have all recently launched capped trackers.

To find out more visit the best buy mortgages section of the L&C website.

Whatever you do, L&C’s advice is don’t delay. With lenders reserving their best deals for those with up to 40% equity, and falling house prices eroding your equity, any delay could cost you dear.

For more information and no-fee advice, borrowers should call free on 0800 373300.

 

London & Country (L&C) is the UK’s leading no-fee mortgage broker. Based in Bath, it provides whole of market advice via telephone and post to clients nationwide. As well as residential mortgages, it also specialises in the Buy-to-Let and adverse-credit sectors.

L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. For more information, go to www.lcplc.co.uk/green

L&C has won numerous awards including:

Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008
Best Technology Adviser – Money Marketing 2007
Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005
Best National Broker – Mortgage Introducer 2005, 2006 and 2007
Best Overall Broker – Mortgage Introducer 2005
Overall broker of the year – Pink Home Loans, 2006 and 2007
Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005
Business of the Year – The Bath Business Awards 2005
Growth Strategy of the Year – National Business Awards (Wales and West) 2008
Business Leader (Broker) – British Mortgage Awards – 2008
Online Mortgage IFA of the Year – Financial Adviser – 2008

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Credit Cards, Financial, Financial Services, Loans, Money, Personal Finance

Woolworth’s Release Everyday Money Credit Card

If you are a Woolworth’s customer or thinking of becoming one then the new “Woolworth’s Everyday Money Credit Card” offer is for you. The advantage of the new Woolworths credit card is that it rewards you for being a loyal shopper. You receive bonus points f r o m Shopping at Woolworths and partner stores around Australia. Rewards For Shopping at Woolworth’s Supermarket. 

Earn 3 points for every dollar spent on select products at Woolworth’s supermarkets. If you spend $200 on food shopping per week then this would equate to 600 bonus points added to your Everyday Money bonus points account. Earn 2 points for every other product you buy at Woolworths, Safeway, Big W, CALTEX WOOLWORTHS/SAFEWAY co-branded fuel outlets, epump, Woolworth’s/Safeway Liquor, Dick Smith PowerHouse and participating Dick Smith Electronics and Tandy stores. The Everyday Money deal also gives you 1 point for any other purchases made on your credit card. This product gives you the opportunity to earn reward points for your everyday shopping in Australia.

Redeeming your Points
Every 4 months depending on how many points you have earned in this period Woolworth’s customers will earn a Shopping Card that can be used at Woolworth’s stores and participating partner networks. The shopping card can be used for anything f r o m food shopping to the petrol pump.

Credit Card Features
The Everyday Money Card is issued on behalf of the HSBC Bank and is subject to their lending requirements. The low purchase interest rate as of March 24 2009 is 17.99 percent. For a limited time only the Everyday Money Mastercard comes with a $50 bonus shopping card upon the first card usage, and zero dollar annual fee for the first year, after which the annual fee is $49 per year. If the balance transfer is not paid off within this period then the standard purchase rate applies.

Conclusion
If you are a Woolworths customer and a responsible credit card user then the rewards program offered by the Everyday Money Mastercard will provide you with advantageous benefits. Woolworths is one of Australia’s most reputable organisations and the partnership with HSBC Bank gives the Australian consumers a deal that will save.

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Bankruptcy, Debts, Financial Services, IVA, Loans, Mortgage

Tackling Unsecured Debt Can Prevent Repossession

Responding to the 2008 repossession and arrears statistics released by the Council of Mortgage Lenders (CML), debt specialists Debt Advisers Direct have stressed the relationship between unsecured debt and mortgage arrears.

“As the CML reports, there were 40,000 repossessions in 2008,” said a spokesperson for Debt Advisers Direct, “and a further 219,000 mortgages ended the year more than three months in arrears.

“For many of those people, however, the problem lay not in the cost of their actual mortgage payments, but in the cost of servicing their unsecured debts. Charging significantly higher interest rates than mortgages, unsecured debts can easily ‘snowball’ to the point where borrowers simply can’t keep up with them – where their monthly payments barely suffice to pay off the accumulating interest.

“Unsecured debts can also be alarmingly easy to take on. Credit cards and store cards in particular allow significant levels of debt to accumulate gradually: people who would hesitate to take out a £2,000 loan can find they’ve acquired £2,000 of debt on a number of cards without even noticing it.”

This combination of high interest rates and ease of access has left many homeowners with unsecured monthly debt repayments that take up some or all of the funds they need to service their mortgage debt. Unless they take steps to address this, it can end up leading to repossession.

“There are ways of reducing the burden of their unsecured debts,” the spokesperson continued. “Many people successfully negotiate with their unsecured lenders – either on their own or through a professional debt management organisation – asking them to accept lower payments, freeze interest and/or waive charges, to ensure that servicing their unsecured debts doesn’t take up funds they need to stay on top of their mortgage payments.

Others find that their unsecured debts have passed the point where negotiation is a realistic option: “In 2008, some 106,000 people in England and Wales turned to insolvency (bankruptcy or an IVA (Individual Voluntary Arrangement)) as the only realistic path out of debt – and experts such as KPMG believe this figure could easily grow by 50% this year.

“For the majority of homeowners, an IVA offers distinct benefits over bankruptcy. Like bankruptcy, an IVA lets them write off the debt they can’t afford to repay, and will have a severe impact on their credit rating. Unlike bankruptcy, however, it will allow them to retain ownership of their property.”

This is what makes it a particularly interesting option for homeowners who worry that their unsecured debts could end up costing them their home: “An IVA requires substantial commitment, as they will need to make regular payments towards their unsecured debt for five years, but those payments are designed to be affordable.

They will be calculated to take up the individual’s entire disposable income – the money they will have left after taking into account their essential monthly expenditure, such as food, petrol, utility bills and (most importantly) mortgage payments.

“So a homeowner in an IVA will be required to contribute all their disposable income to their IVA for a full five years, as well as releasing some equity halfway through the final year of the IVA to maximise the amount they can pay their unsecured creditors.

“However, they’ll know they’re protected from any legal action by their unsecured creditors – including attempts to make them bankrupt – and they’ll know their outstanding unsecured debts will be written off at the end of that period. Most important of all, they’ll know the budget they’re following is specifically designed to ensure their monthly mortgage payments will be met.”

“The important thing is to take action in time, as soon as their unsecured debts reach unmanageable levels. An IVA is a legal procedure that requires the approval of creditors who collectively ‘own’ 75% of the debt in question – in general, the sooner an individual speaks to an Insolvency Practitioner about an IVA, the better their chances of gaining that approval.”

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Debts, Financial, Financial Management, Financial Services, Loans, Money

Managing Debts When The Economy Slumps

Responding to the Fourth Quarter Economic Survey from the British Chambers of Commerce (BCC), debt management company Gregory Pennington stressed that negotiating with lenders is an important part of dealing with (and preparing for) the kind of ‘tough times’ that the Survey spells out.

“Most economic reports contain a mixture of good and bad news,” said a spokesperson forGregory Pennington, “but the BCC has stated – in black and white – that ‘There are nopositive features in the Q4 results’, going on to use words like ‘awful’, ‘terrible’ and‘alarming’. There’s no point in being overly negative, but the report clearly spells out that last year ended badly – and that businesses throughout the UK are in for a rough 2009.

“Every time a business fails, this inevitably has a negative impact on consumers’ finances – not just its actual employees, but everyone connected to the business, from its suppliers to its commercial customers. Everyone who depends on that business for all or part of their income will have to make the necessary adjustments to their lifestyle, until they can find a way to raise their income once more.

“During a period of economic turmoil and high unemployment, carrying debts can beparticularly dangerous. Anyone entering a period of unemployment with significant unsecured debts to their name is far more likely to run into difficulty almost at once: as well as paying for essentials such as mortgage / rent, utilities, food, petrol, etc., they’ll need to stay on top of payments to their unsecured debts – payments which have suddenly become much harder to afford.

“When someone (whether employed or unemployed) can’t keep up with their debt repayments, this can lead to charges and legal action, and can draw them into a ‘spiral’ of debt, in which all their efforts to reduce the debt aren’t enough to keep pace with the rate at which it’s growing. Negotiating with lenders – through a debt management plan, for example – can help them avoid this, as their lenders may agree to accept lower monthly repayments, waive charges and freeze or reduce interest.”

“Of course, surviving a period of unemployment will be easier if they’ve taken precautionary steps beforehand – perhaps when they hear warnings from organisations such as the BCC, the International Monetary Fund or the International Labour Organization. For example, some people may attempt to overpay their mortgage so they’re in a better position if they need to take a payment holiday later on. Others may choose to concentrate on their credit card debt or overdraft, trying to reduce the monthly cost of servicing their debts, as well as the overall debt itself.

“They may not be able to clear their debts altogether, but that doesn’t mean they can’t make a good start. The more progress they can make, the easier it will be to cope if they are made redundant – and if they aren’t, they’ll still benefit from reduced interest payments and increased financial security.”

Borrowers who do end up losing their job may find that a debt management plan could help them adapt to living with a reduced income more quickly. “Their debt managementrepresentatives will be able to talk to their creditors, trying to re-negotiate lowerrepayments that reflect their lower income. In many cases, lenders would recognise thattemporarily accepting lower payments (if necessary, nominal payments) could help theborrower cope until they could find new employment – or to get back on top of their debtsonce they have found it. After all, in the vast majority of cases, it’s in everyone’s interest to ensure the borrower has an opportunity to repay their debts, rather than beingdeclared bankrupt.”

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