alliance & leicester lowers fixed mortgages - Published:12/12/07
Alliance & Leicester has lowered the rates on its three and five-year fixed-rate mortgages as an incentive to longer-term mortgage huntersThe revised speed for both deals now stands at 599 per cent - down from 612 per cent - with a product fee of £599Alternatively homeowners could choose for the FeeSaver options which have no product charge but carry a higher rate, at present 624 per cent down from the previous level of 639 per centtax for the three-year products are fixed until November 30th 2010 and for the five-year deals until November 30th 2012 - after which time normal variable rates will applyRichard Taylor, head of mortgage products at coalition & Leicester, commented: "These deals are available to both novel and existing customers, with the option of a lower speed and a charge of just £599 or a slightly higher rate and the benefit of no fees, as well as free valuation and legal cost"The Bank of England this month exposed that most fixed-rate deals fell in September, fuelling speculation that interest rates have peaked at their present level of 575 per centconditions of use Advertising Resources Product guides Press releases About us.
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Take the buy-to-let reality check - Published:02/12/07
Buy-to-let investors countenance a series of wake-up calls as interest rates rise and new rules power them to be more professional over everything from deposits to property standardsExperts speak many investors have been making easy profits for too extended and need a reality check'For a extended time, buy-to-let has allowed investors to quite literally create money while they sleep But the type of weather is getting tougher this year and investors should get out if they aren't up for the confront,' says Philippa Gee, investment manager of financial adviser Torquil Clark in WolverhamptonMore importantly, investors require to be aware of the new rules that rule the buy-to-let market Fail to comply and you could be thousands of pounds out of pocket and might even be prosecuted 'This is no longer something you can jump into with your eyes stopped up,' says Gee Here are the reasonsOwning buy-to-let property is getting more luxurious Three interest rate rises since August and at least one more on the cards are squeezing many investors' proceeds Lee Grandin, of broker Landlord Mortgages in Wokingham, Berkshire, says abundance will be emotion the pinch as the three-year fixes that flooded the market in 2004 approach up for renewal'These investors need to start shopping around well before the deals finish to avoid an even not as good as shock if their payments move on to lenders' far higher standard variable tax,' he saysFortunately analysts say high-quality buy-to-let deals do exist - six of the best lenders are currently Alliance & Leicester, BM Solutions, Chesham, Nottingham, Norwich & Peterborough and Stroud & Swindon structure societies, though many brokers also advocate less well-known lenders such as Mortgage Express and The Mortgage WorksLandlords and tenants signing certain Shorthold Agreements since April 6 have had to obey with new rules about deposits Landlords who put on't follow them can be ordered to pay tenants three era the value of the put as a penaltyThe regulations are designed to cut down on the number of disputes and to protect both tenant and landlord An independent complaints auditor can now step in to give a rulingBuy-to-let landlords must sign up with one of the three Tenancy put Schemes The first is a fee-free 'custodial' system which looks after the deposit on your behalf; the other two are 'insurance' schemes where you keep the put yourself but pay a premium to the scheme to protect itMore details can be found at wwwstraightgovuk/tenancydeposit, or call 0845 609 0696 for official leaflets that explain how the system worksFor specific in order on the custodial scheme, go to wwwtdsgbcom, and for details of the two cover schemes, visit wwwmydepositscouk and wwwdeposit protectioncomLandlord associations speak confusion still reigns over the rules for so-called 'houses in multiple job' (HMOs) introduced in April last day These were designed to improve standards in the kind of communal housing that normally goes to students or near to the ground and no-income tenantsThe definition of HMOs is complex - it varies according to the figure of bedrooms, storeys and amenities in each room - so up to a year was given for the regime to divan down before strict enforcement began This window has now stopped up and buy-to-let investors who are deemed to own HMOs and haven't had them approved can face fines of up to £20,000Check the system and requirements at wwwcommunitiesgovuk under 'HMOs' In a nutshell, if you own what is deemed to be an HMO you require to have it examined by your local authorityFees vary enormously across the country - from less than £150 to more than £1,000 If the property is not up to scratch, you will be told what improvements have to be made and when Fail to comply and you could be prosecuted and countenance big finesThere are now more than three million privately borrowed properties in the country, worth an eye-watering half-a-trillion pounds, according to research by Sainsbury's store But the bank's possessions expert Robert O'May reckons that many of them are at risk because landlords aren't taking out the right insurance'Policies do exist for borrowed properties - ours offers limitless buildings cover and pays out up to £20,000 a year for loss of rental fee,'he says And Lee Grandin at Landlord Mortgages says his experts can find inside cover for owners that create at £6 for every £1,000 of furnishings to be protectedExperts say that landlords who present unfurnished possessions should still consider low-level contents cover to protect kitchen appliances, curtains and other basics Many insurers will defend up to £5,000 of goods in unfurnished propertiesSpecialist 'rent assurance' or 'rental fee protection' policies also promise to pay out if you have tenants who stop paying or cause other evils Endsleigh and Letsure present policies and the British Insurance Brokers Association can also help find plans call wwwbibaorguk,or call 0901 814 0015choose a loan term 12 months (1 year) 24 months (2 existence 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 existence 108 months (9 existence 120 months (10 years)Please choose a type of insurance Life insurance Home and contents Car Breakdown armed forces Health - medical Health - dental Travel favorite - dog favorite - cat GOThinking about investing in property This is Money has the.
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Financial services provider reveals 40% of people plan to blow bonuses - Published:04/11/07
Some four in ten populace who receive a cash bonus will spend the entire sum over the next weeks, according to the latest informationResearch from financial services provider Alliance & Leicester Savings indicates that approximately 45 million employees will receive a bonus this year, of whom 40 per cent will use it allAnd there appears to be a gender difference between spenders and savers, with 48 per cent of women planning to blow the bonus as opposite to 34 per cent of men"It's amazing that all the firm work that goes into securing a extra or pay rise can be exhausted in just an instant," he said"One in six people (16 per cent) surveyed received between £1,000 and £5,000 for their last pay rise"However, spendaholics who make a decision to go on a shopping binge may need to be wary of purchasing luxury items that exceed their bonuses, such as an luxurious novel carThis could lead them to resort to borrowing on credit cards or personal loans, which may present them with financing difficulties in the prospectFinancial services provider reveals 40% of.
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Financial Services Provider Reveals 40% Of People Plan To Blow Bonuses >>
