Low Rate Loans

First-time homebuyers take advantage of stamp duty concession

Mackenzie Woolacott — Tue, 14 Feb 2012 06:28:46 +0000

According to data from the Council of Mortgage Lenders , the number of first-time buyers increased in December 2011, as many took advantage of the current stamp duty exemption on properties worth up to 250,000.

The figures showed that there were 18,700 mortgages advanced to first-time buyers in that month, worth a total of 2.3 billion.

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Auto Market Shows Signs of Looser Lending

Lauren Hazon — Fri, 10 Feb 2012 22:21:11 +0000

The U.S. auto loan market is definitely reviving after hitting a low point back in 2008 with the financial collapse. While credit all but dried up at that time, banks have since shown much more interest in funding auto loans with banks even starting to compete against each other for business.

“Banks have had to look elsewhere for growth opportunities, and auto has been one of the nice spaces over the last couple years,” Curt Beaudouin, a bank analyst for Moody’s Investors Service in New York, said in a phone interview with Bloomberg . “The credit experience in terms of losses has been very good in recent times. It’s never gotten out of hand. Right now, it’s basically good for everybody in the industry.”

And it is starting to show in the numbers. U.S. sales of light-vehicles rose 10 percent in 2011 to 12.8 million. AutoNation Inc. is predicting that U.S. car sales will grow to 14 million this year.

Certainly looser credit has been a major factor in rising auto sales. Many lenders

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One In Five To Retire With Loan Debts

Koby Provan — Wed, 08 Feb 2012 02:22:53 +0000

Retirement is supposed to be a time when people can sit back and relax, without having to worry about their finances and making ongoing loan repayments. But aside from the fact that many individuals have not made adequate provision for their retirement income, around one in five are likely to retire with outstanding loan and card debts.

Research conducted by the Prudential has found that somewhere in the region of 18 per cent of people who plan to retire this year, will do so with existing debts hanging over them, either in the form of a home owner loan, personal loan or credit card bills.

Although the number of people entering retirement with loan debts has actually dropped slightly since last year, the level of individual debt has increased significantly.

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Should You Save Your Money Or Pay Off Your Debt?

Lauren Hazon — Mon, 06 Feb 2012 13:53:53 +0000

If you’re lucky enough to have money left over at the end of the month or if you get a bonus through from work, what should you do with the extra money? Of course, many people will be tempted to spend it on nice things like clothes or gadgets, but realistically the two best options for that money would be to either use it to pay off some of your debt or put it away as savings.

What would be the best option?

Saving Money

One of the biggest arguments for saving your money is that you are covered should a financial emergency pop up. Also, by doing this, you could try to prevent getting into debt in the future. However, the difficulty with doing this and not paying off your debt, is that the interest on things like credit cards will increase, leaving you paying off more money that you might have done before.

Paying Off Your Debt

Paying off your debts is important as the longer you leave it, the more interest you will pay, so it’s a good idea to get rid of the debts as quickly as possible.

However, if you decide to use the money to pay off your debt, you could leave yourself at risk if a financial emergency appears. If a

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Santander Consumer Goes NADA

Mackenzie Woolacott — Fri, 03 Feb 2012 08:25:35 +0000

The past NADA expos have seen Santander Consumer USA have a large presence and this year is no different. Santander is leading the charge to connect customers, businessness and employees together. This year’s theme, “Leading the Way,” allows everyone to check out the informative booths manned by their car title loans, car-industry peers. . There’s clearly something for everyone at the event and Santader Consumer USA hopes to be a resource for all.

What is NADA?

Thispany is known more offline for their work with used car guides and they have tools that allow you to scan your vin # and buy the car.

Small Business Loans Increase But Obstacles Remain

Lauren Hazon — Wed, 25 Jan 2012 05:31:19 +0000

Total lending to U.S. small businesses grew again in November, according to the latest Thomson Reuters/PayNet Small Business Lending Index, adding to a positive trend.

The Index, a measure of overall small business loan volume, posted an 18 percent increase in November 2011 from November 2010, reaching the highest level since February 2008.

This yearly upswing is an indication of:

A new phase of the business cycle, PayNets founder said in a Reuters article . Businesses are betting on the future with increased investment spending.

Small business owners are also getting better at keeping up with their loans. The Thomson Reuters/PayNet survey found that loan delinquencies shrunk in November, with loans in “moderate delinquency,” or those behind 30 days or more, falling 0.05 percent to 1.5 percent and “severe delinquencies,” or those behind by 90 days or more, slipping down to 0.39 percent.

Yet the latest data does not mean that it is now easy to get a small business loan. Credit

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New Mitsubishi on the Cards

Mackenzie Woolacott — Tue, 24 Jan 2012 15:07:30 +0000

If you’re holding back your next auto loan to first see what the Geneva Motor Show comes up with, you will most likely be pleasantly surprised. A number of manufacturers will showcase some very interesting new models at this show.

One of them is Mitsubishi. The company will debut a brand new concept car at Geneva in March that will give us a taste of what the company plans for the next few years, specifically for the Outlander.

From the grainy teaser picture it is hard to make out much, except that the car seems to follow the new styling trend we saw on the concept PX-MiEV. The effect of the intricate headlights and sculptured body panels is augmented by the trademark MITSUBISHI badge flanked by two bold chrome bars.

So far Mitsubishi has not provided any information on what type of car the concept is going to be. All the company was prepared to say is that it will form the basis of its new “Jump 2013” business plan. That programme includes the expansion of the company’s range of electric and plug-in vehicles as well as its range of SUVs, particularly in emerging markets.

Keeping that in mind one can fairly safely assume that the car to be showcased at Geneva will be a hybrid plug-in SUV that will have a significant effect on the design of the next Mitsubishi Outlander.

The plug-in hybrid PX-MiEV concept car had a 1.6-litre engine utilising two electric motors and boasted fuel consumption of more than 140mpg.

Cash Advances: Friend Or Foe?

Koby Provan — Thu, 19 Jan 2012 14:13:52 +0000

Cash Advances can help individuals who are in a bind. Details of this type of monetary help is given with cautionary company recommendations.

Unexpected situations present themselves regularly, and there is no money available for rectification of the problem. These unexpected occurrences are situations, such as a broken air conditioner, a cavity in the tooth, or even a car break down. Cash advances enable people to cope with emergency situations.

These loans give money to individuals immediately and are paid back at a later date. One may believe that cash deferments are a solution to emergencies that arise; however, they can pose a problem for some individuals who do not understand them. Advances may prove to be a double-edged sword.

Start the Process of Getting Financial Aid

Mackenzie Woolacott — Wed, 18 Jan 2012 16:22:25 +0000

Applying for aid is just the first step in a process. One in three applicants will be selected for a process called verification. If your application is selected, you will need to provide the financial aid office with tax forms and other documents. Provide the verification documents as soon as possible. Most financial aid offices have double digit increases in applications to process. Most offices process in date order, depending on when you return any documents requested. Don’t end up with a late disbursement because you procrastinated with responses. If your college also provides institutional aid from their college foundation, you may have other steps to take to complete the file. Be informed. Ask questions.

PLEASE NOTE: When you ask if you are finished with the process, there is a big difference between the responses, “We have everything we need to review your file,” and “Your file is complete and you have been awarded.” If you have completed the process, you should either have an award or have been notified that you are not eligible for financial aid.

If you haven’t started the process yet, you are very, very late. Do it

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Using Child Support Income to get Approved Auto Loans

Koby Provan — Mon, 16 Jan 2012 22:13:58 +0000

Paying or receiving child support payments can make it more difficult to qualify for poor credit car loans

What we know

If you have bad credit and are responsible for child support or receive child support ie you need to be aware of how this will affect applying for terrible credit auto loans.

We understand these situations because since 1992 we’ve been doing bad credit auto sales here at Auto Credit Express. Our website is even designed so that applicants with poor credit can better understand topics such as repossession and tote the note loans as well as today’s topic, how child support impacts getting approved for a bad credit car loan.

Ie issues

You might have a problem getting approved for a bad credit auto loan if some of your iees from child support payments. The main reason it’s an issue is because child support ie cannot be garnished.

What this means is if someone with child support ie has their car repossessed, the lender can’t get a court order to take that ie to pay off the loan.

As a result, lenders are especially careful when considering applicants with child support ie. But the

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More People Seeking Help For Debt

Lauren Hazon — Mon, 16 Jan 2012 06:35:43 +0000

According to a new survey, more people than ever before are looking to get free advice regarding their debt. The stats published in The Telegraph this week showed that in 2011, around 1.5 million Britons sought free debt advice, up from 1.4 million in 2010. The survey, which was conducted by the Money Advice Trust, also found that 10 million people across the UK are constantly battling with debt.

From the results shown in the research, it’s possible to see that there may also be a large increase in the amount of people turning to debt advice charities in 2012.

A representative from the Money Advice Trust said that the reason for this increase was likely down to unemployment rising and day to day costs not showing any signs of getting any cheaper either. They also mentioned that their research showed that many people are also going to the desperate measures of selling things like their cars and jewellery to make ends meet.

Here at Payday Power, we always recommend that debt advice charities should be the first port of call should you suffer from a long term debt problem. T

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Parents Helping Kids Get Mortgage Loans

Lauren Hazon — Sun, 08 Jan 2012 15:59:04 +0000

In these days of economic uncertainty, many potential homebuyers are asking their parents for help.

Today buyers are facing the most stringent lending standards in decades as well as a shaky job market. They are often in need of a good chunk of change in order to qualify for a home purchase. According to a survey from Better Homes and Garden Real Estate as reported in a CNN Money article , one in five baby boomer couples have already helped at least one of their children buy a house. That help has come in the form of giving cash for a down payment, co-signing a loan, or even financing the entire purchase.

That same survey found that 68 percent of parents expect to “provide financial support to their children or grandchildren in the future” to help get them into a home.

Even though home prices have now sunk back to pre-housing bubble levels (and much lower in some harder-hit states) and interest rates are at record lows, mortgage loan requirements are much higher than they have been in years. Hig

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When interest rates were eighteen percent

Mackenzie Woolacott — Fri, 06 Jan 2012 23:18:20 +0000

Talking to some older folk over the last week about times when interest rates were around eighteen percent and I am reliably told that there are many watching with almost amusement at the goings on in relation to the continued will they/won’t they pass that rate cut onto borrowers guessing game.

Because it was back in their day that a bank not passing on a rate cut was almost the rule, rather than the exception.

And with interest rates getting up to eighteen percent around that time, that was a whole lot of sweat going on!

So that generation can certainly add some perspective to what’s happening in the current times.

But there is one difference now. Than

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Overspent This Christmas Period? Payday Power Could Help!

Lauren Hazon — Sat, 31 Dec 2011 07:01:09 +0000

For most of us, it’s the first week back to work after a relaxing two weeks off, visiting family and eating Christmas dinner. However, this Christmas break won’t have come cheap, as the extra food, activities and even petrol can quickly add up. If this sounds familiar and you are wondering how you are going to be able to cover upcoming costs, then Payday Power could be the answer.

If you’ve got rent or mortgage payments coming up or even an outstanding bill and you’re short of cash, then why not consider a payday loan? Payday loans are small loans which are borrowed for a short amount of time. With Payday Power, it’s possible to apply for anything from £50 up to £1250, which you then pay back on your next pay day (plus interest).

It’s really simply to apply, all you have to do enter your details into our quick and easy application form, then you will receive an almost instant lending decision. Once you are happy with the terms and conditions of your loan, it’s then a matter of signing your online agreement. Your loan shoul

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Northern Rock Sale Completes

Koby Provan — Fri, 30 Dec 2011 22:32:09 +0000

The sale of the previously nationalised bank Northern Rock to Virgin Money has now completed, it has been confirmed recently, which many hope will bring a breath of fresh air and increased competition to the banking, homeowner loan and personal loan sector of the finance industry.

The sale of Northern rock to Virgin was initially agreed on November 16th last year at a price of £747 million, which will hopefully go some way to reimbursing the UK taxpayer who funded the initial bail out of Northern Rock back in 2007.

However, Virgin Money will only be buying the “good” part of Northern Rock, which includes the banking arm, along with the well managed home owner loans, mortgages and personal loans. Meanwhile, the “bad” bank, which includes all the loans with arrears and defaults, otherwise known as “toxic loans” will remain under the ownership of the government.

Virgin Money has been looking to become involved in retail high street banking for some time and will inherit 75 Northern Rock branches across the UK, which will be rebranded as Virgin Money. The company

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