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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.

Loan For Consolidation

August 3rd, 2007

Figures have just been released that tell us reposessions have risen sharply over the first half of the year.It is widely regarded that the rise in interest rates are to blame as people are unable to make their mortgage payments every month.

We have written in previons blogs about the fact that homeowners have to be responsible for their finances.A lot of homeowners have consolidated their bills with a secured personal loan over the last few months and therefore reduced their monthly outgoings.The monthly savings they made left them able to pay the increase in their mortgage.

Some economists have said that secured loans will cut your bills every month but it will cost you more in the long run.This can be true however it is better than loosing your home because you could not afford your monthly payments.

With ukwebloans you can get a free quote for secured personal loans and we can provide you with a quote quickly.

Some Good Loan News

August 2nd, 2007

Its time for everyone with variable rate loans to breath a sigh of relief.Many had predicted that interest rates would go up over the last few months and they were right but a lot of economists thought that today interest rates would go up even further.

However the good news is that they did not go up and so we have some breathing space after the last few months.We reported on our secured loan blog last month how the effect of the interest rate rises had on homeowners that had not fixed their mortgage loan.People with a loan of £200,000 seen a rise of just over £125 on their monthly mortgage loan which left bills harder to pay.Those on a fixed loan were happier however they will get a shock when they have to remortgage in the near future.