Loans Information

Luxury Real Estate Information


Rancho Palos Verdes, California Homes
Palos Verdes, California Homes
South Bay, California Homes
Luxury Mexican Beachfront Homes

Featured Properties


Oceanfront Estate Near Trump National

Related Information


Loan Information
Real Estate Information
Mortgage Refinance Information

Become A Smarter Borrower


With a nation that has in the region of a Trillion pounds of debt one could say we are serial borrowers. Before you consider borrowing money it is wise to consider a few important points.

· Shop around for the best deal

This may sound like a no brainer but many people still use their high street bank to borrow money. These are usually the most expensive and with the Internet you can spend 30 minutes in your home finding the best deal.

· Make sure you understand the APR

Although the lender will outline the APR charges this may not be the actual amount you will be paying. Make sure you get the true cost of your loan.

· Keep the repayment period as short as possible

The longer you take to pay off your loan the more expensive it gets. Try and limit the repayment period to less than 5 years. For example, a £5,000 loan borrowed over five years at an interest rate of 9% will cost you £103 each month, this may sound affordable. But overall, it will cost you £6,176 - £1,176 in interest. If you borrowed it over three years, your monthly payments would be £158 an increase of 53% in payments however you would only be paying back £5,694, which is substantially less.

· Make sure you read the fine print

Lenders make a fortune in charging their customers payment protection. There are usually several conditions attached to this kind of protection so make ensure that you get the protection you want should you not be able to keep up the payments. There are usually redemption penalties if you pay your loan off early so make sure you are aware of these charges before hand.

· Avoid Secured loans if possible.

Loans of this type are commonplace in the UK are commonplace following the increased equity value arising from the house price boom of recent years. It is only advisable to release equity if you are going to be adding value to you home. If you fail to keep up payments you can be at risk of losing your home. This again will be mentioned in the fine print, although you should be aware of this.

There are hundreds of loan companies in the UK at the moment. With our low interest rates it has been quite affordable to borrow money. This is one of the reasons we are a nation in the grip of a debt epidemic at the moment. If you can reduce your interest payments then take action now.

If you have between 6 - 9 months left to pay on your loan you could transfer this balance to a 0% balance transfer credit card. You can then pay this balance off from your new credit card at no cost over the 6 or 9 month period depending on what the introductory rate is.

Do your homework there is more than enough information and loan comparison websites to make sure you make the right choice when it comes to taking out that loan.

Grant Marwick is a freelance writer and owner of http://www.1st-in-loans.co.uk where you will find advice and more articles on personal loans


MORE RESOURCES:
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news


Forbes

Why You Should Rarely Pay Extra Toward Your Student Loans
Forbes
If you want to get out of student loan debt quickly, then paying extra towards your student loans might seem like a no-brainer. Pay more, watch the balance go down, avoid extra interest, and see the loans disappear quickly. However, for many borrowers, ...
Why Public Service Loan Forgiveness Is So UnforgivingNPR
The Public Student Loan Forgiveness Rescue Hasn't Gone Well So FarNew York Times
The Student Loan WhistleblowerKUOW News and Information
IFAP - Electronic Announcements - US Department of Education -Consumer Financial Protection Bureau -Government Accountability Office -Mass.gov
all 47 news articles »


Regulation of installment loans varies widely by state
Marketplace.org
A new report from Pew Charitable Trusts finds that nearly 10 million Americans turn to consumer finance companies for short-term installment loans when they need quick cash. But just how much they pay in finance charges can add up depending on how ...

and more »


Forbes

Here Are The 5 Biggest Student Loan Mistakes Of 2018
Forbes
No one likes to make a mistake. When it comes to your student loans, in particular, a mistake can cost you more money. According to Make Lemonade, there are more than 44 million borrowers who collectively owe $1.5 trillion in student loan debt. The ...



The Real Deal

These were the top 10 outer borough loans in September
The Real Deal
Two of the top three outer borough loans recorded in September were for Bronx projects. The No. 1 loan was $115 million for Eastchester Heights, a complex spanning five city blocks in the northern part of the borough, while the number three loan was ...



Forbes

Judge Orders Betsy DeVos To Begin Student Loan Forgiveness
Forbes
When the federal government forgives student loans - even if a college committed fraud - taxpayers effectively foot the bill. DeVos has proposed creating a new formula for student loan forgiveness, which would cancel a portion of a borrower's student ...
Court allows Obama-era student loan rules to take effect, delivering defeat to DeVosWashington Post
Students defrauded by colleges can have student loans forgivenNBC4i.com
Obama Student Loan Rule to Take EffectInside Higher Ed
CNBC -Politico -Wall Street Journal -CNNMoney
all 179 news articles »


Detroit Free Press

New job perk that's luring employees, helping them cut college debt
Detroit Free Press
Carhartt will pay $50 a month up to $10,000 to help its eligible part-time and full-time workers worry a little less about their student loan debt. Employees have to be with the company at least 30 days, if non-union, or 90 days, if in a job ...
Think student loans are bad now? Just wait.BenefitsPro
How to Spend Your Money When You're Paying Off Student LoansZing! Blog by Quicken Loans (blog)

all 9 news articles »


VICE

Here's Fresh Evidence Student Loans Are a Massive, Generational Scam
VICE
For some perspective on how America let student loans get so out of control, why taking on debt is so often a mistake, and what we can do about it, I called co-author Julie Margetta Morgan for a chat. This conversation has been lightly edited for ...



Bloomberg

Leveraged-Loan Risks Start to Get the Fed's Attention
Bloomberg
In minutes of the Federal Open Market Committee's September meeting, policy makers made explicit for the first time that they're watching for any hint of risks to financial stability stemming from the more than $1 trillion market for U.S. leveraged ...



America's $1.5 trillion student-loan industry is a 'failed social experiment'
MarketWatch
But ask many borrowers in this generation whether they worry about how the loans will affect their future and you'll get a slew of bleak replies: It's stopped them from getting their car fixed, switching jobs, buying a home and having children. Even a ...



CNBC

Americans hold $1.5 trillion in student debt—here's how to know which repayment plan is best for you
CNBC
Paying off your student loans efficiently is most important than ever before. According to most recent figures from the Federal Reserve, 44.5 million Americans collectively hold $1.5 trillion in student debt. Even though college graduates have a huge ...


Google News

home | site map
TIGER MEDIA© 2006