Bad Credit Ratings Affect Us All Just as the world is warming up, the credit climate has undergone a profound change since the recession took hold as many of us find we have bad credit records. According to the latest Bank of England figures, around 1.6 million of us apply for some form of...
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Money saving expert believes that the stamp duty holiday on properties costing less than £250,000 is set to become permanent, more homes coming onto the market in the wake of the abolition of Home Information Packs and a few green shoots of economic recovery poking through, now could be the ideal time to take...
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The Council of Mortgage Lenders has today published the latest figures showing that the Buy-to-let market had risen by 12% in the third quarter of 2010. Some 26,900 buy-to-let mortgages worth £2.8 billion were advanced during this period. There are currently around 1.29 million buy-to-let mortgages. Demand for buy-to-let mortgages is being fuelled by...
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Last month saw the lowest mortgage approvals since this recession started back in 2007. First time buyers are still struggling to get on the property ladder and some of the latest information suggests that the average age of a first time buyer is 37, this is frightening. With first time buyers’ stamp duty holiday...
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The Financial Services Authority (FSA) has released their mortgage market review discussion paper and they have outlined their proposal for tougher regulations. It is evident that they will be more authoritarian and intrusive in the way they regulate the mortgage industry in future. The FSA want to control the industry as they believe the...
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The days of easy credit are long gone – if they ever existed. Now, you need a really good credit rating to be in with a chance of getting the best deals. These money saving tips could help you. Understand how lenders make decisions. They calculate your credit rating (or score) by giving a...
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The spectre of losing your job can be terrifying, especially when vacancies are at a record low. But once the initial shock has worn off, redundancy can herald a new beginning – a chance to set up your own business, use any pay-off to clear your debts or find a role that gives a...
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Most lenders use credit scoring to help them decide whether or not to approve applications for loans, credit cards, mortgages and other forms of credit, such as mobile phone accounts. And a credit score can also determine what interest rate the applicant will be charged. Brought to you by money saving expert. A high...
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Knowledge is power when it comes to getting the credit you want. Start by understanding the impact your credit history has on the type of offer you get – or whether you get an offer at all. Your credit history is reflected in your credit report, which lists credit cards, loans, mortgages and other...
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As a provider of money saving advice , I can understand banks and finance institutes charging high interest rates to clients that have a less than perfect credit report where they have missed payments, fallen into arrears, been issued with defaults and county court judgements. But it looks like these banks were charging these...
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