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To Rate or Not to rate for a secured loan

November 15th, 2007

There has been some talk in recent times about what will happen when to not rates decision will be announced.Some news reports have suggested that the Bank of England will cut rates. This could seem logical given what has happened since the recent rate hikes.

The housing market has shown signs of slowdown over recent months the main reason being that people are finding it harded to get a mortgage. Over the last few years a nearly everyone was able to obtain a mortgage however the lenders have since tightened up and record number of people have senn their mortgage applications been turned down.

The homeowners that had a fixed rate mortgage over the last few years and now have to remortgage also have had a nasty surprise with the increase in interest rates their repayments have increased a large amount over the last few months.

What will happen in the future is hard to predict some analysits have predicted hard times ahead but an interest rate cut will come as a great relief to many homeowners.¬

House Prices Fact Or Fiction

August 7th, 2007

It seems to be very hard to figure out what the current situation is regarding house prices. It really depends what paper you read or which internet site you look at. On the one hand it is being reported that there is a big slowdown on house prices and some even say that we could be in for a large freefall in prices which will result in negetative equity for a lot of homeowners.

However we also see in the last few days that the long term future of house prices is going to be strong and prices could rise as much as 40% in the next five years.This will mean that those not on the property ladder are going to find it even harder than before.

 It is very hard to know which of the above ideas are correct and we at ukwebloans believe that it is very hard to generalise about these things.The fact that we are involved in the secured loan market means we know that every area is different when it comes to the price of houses.For example the prices of houses in London almost always go up whilst in Northern Ireland the prices have gone through the roof over the last few years and now they have fallen back.

If you apply for a¬†fast secured loan In the Uk then¬†your home will be valued¬†before you can receive a secured loan, although most homeowners have a good idea of the price of their property before we value it.¬

Loans With Or Without PPI

August 5th, 2007

A survey has been conducted in recent months to see if firms are still mis-selling personal protection insurance when giving quotes for secured loans.We have written in the last few months about how record fines were imposed on leading companies that have used this practice in the past.

The survey revealed that many companies are still not giving quotes with and without insurance.Over half the companies gave a quote with the insurance automatically in the price whilst only a handful give a quote without insurance and explained that insurance was optional.

The online companies did not fair much better as the figures seemed to be about the same and many compaines have pre ticked the box which askes whether or not you want ppi.

At present there are about 20 million¬†of these type of policies in the UK and many homeowners dont even realise that these policies have been added to their loans.So¬†our advice in this blog¬†is to make sure you ask clearly¬†for a quote with and without ppi when you are applying for a secured personal loan, and remember that it is optional and you¬†should feel under no pressure to take out insurance,¬

Secured Loan Education

August 4th, 2007

We announced a few weeks ago in our blog that the government has decided to introduce measures where pupils in school can learn more about their finances in school.

It has emerged that this has the full support of a lot of economists that have had to deal with the high levels of debt that consumers find themselves in.

It never ceases to amaze us when homeowners fill out the application form to apply for a secured personal loan that the do not know¬†how many loans they have, what they are paying for these loans every month and many don’t even know how much their mortgage costs every month.

So when they take the time to actually go through their finances they realise how much they are actually spending every month and how much they can save on their monthly outgoings if they consolidate their loans into one payment.

So if people learn to control their finances early in their schooldays then they would not find themselves in financial trouble later in life.