Homeowners unruffled by rate rise says survey by Finance News Bulletin [2]

Published: 15/01/07

Despite shrill complaints from lobbyists and fevered media conjecture on the next move, most Britons say that they are entirely unaffected by the recent interest speed riseAlmost four-fifths of mortgage holders – 78 per cent – say that their money are unchanged following the district point increase in the cost of borrowing in AugustThis was because their mortgages are on either set or capped rates, said 45 per cent, while 33 per cent supposed that they could easily afford the increases in mortgage costsThe remaining 22 per cent said that their spending would be affected by the rise, which has additional £18 a month to the costs of the average mortgage, or £221 a year

The rise has also persuaded some would-be buyers to stay out of the marketplace, and some looking for the best mortgage speed to release equity have late their plans"Our findings show how even a modest change in bottom rates can begin to affect attitudes," said Chris Rhodes of Alliance and Leicester, which conducted the survey"The have an account of England's decision should take some of the warmth out of the housing marketplace without putting too much stress on the budgets of those people who had no plans to move"However, while most people can afford higher mortgage spending, our figures show that a minority will have to make investments

"MoneyExpert Limited is authorised and regulated by the monetary Services Authority (FSA Registration No 301654) The Financial military Authority does not regulate some forms of mortgage agreement, credit cards, personal loans,

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10 steps to equity release - Published:24/10/07

RISING prices, such as the latest blow to family budgets from the chat and electricity companies, often hit the elderly harder than anyone elseMany of them have to get by on fixed incomes and may be compulsory to dip into savings to disburse their everyday billsIncreasing numbers of older people are rotating to equity release as a way of raising much-need funds, but it is significant to consider the alternatives firstPeter Fisher, manager at the NHFA, which is the company behind aid organization Help the Aged's equity release products, offers the following 10-point guide to anyone considering evenhandedness release:1 Consider all the alternatives such as moving to a smaller house Capital raised this way will price you less in moving expenses than in evenhandedness release set-up charges and interest2 If you do not wish to move, it is essential to discuss your tactics with your family before proceeding with equity release This will avoid any needless family surprises later on and they may be able to suggest alternatives3 With more than 30 equity release schemes obtainable it will be difficult to find the best deal yourself Not only that, many of the schemes are obtainable only through authorised intermediaries So find an independent specialist in evenhandedness release advice4 Choose your adviser carefully Are they able to advise on entitlement to wellbeing benefits Are they also conversant with all aspects of lasting care funding Some of this may be relevant to you now or in the future The wrong advice could price you very much An adviser who specialises in all these areas will be clever to explain all the relevant issues and achieve the best result6 Borrow only as much as you intend to use or give away You will earn much less from cash left on deposit than the interest you will have to pay for borrowing it in the first place It could also cut your entitlement to means-tested reimbursement7 When comparing lifetime mortgage interest rates always pay exacting attention to the APR [annual proportion rate] and not just the headline rate The difference can put in up to 05% on the rate actually emotional This is due to the costs of setting up the arrangement and how interest itself is intended This can be daily, monthly or annually The longer the period the improved it is for the borrower (The precise opposite is true for traditional repayment loans)8 Ask your adviser about sustained support and advice This could range from claiming welfare benefits, or care and hold up from the local authority, to mitigating inheritance tax Advisers who specialise in old client recommendation will be in a better position to help than a traditional mortgage adviser, for instance9 You will need a solicitor If you have one create sure to ask if they are recognizable with equity release paperwork Otherwise the process could take longer and cost you more in cost There are now a significant number of solicitors who have undertaken additional training in this specialist area Your equity let go adviser should be able to introduce you to such a solid10 Make sure you have a clear idea on your input goals when embarking on this path Your personal priorities and views on the way of house prices will materially influence whether a lifetime mortgage or house reversion scheme is correct for you Your equity release adviser should be able to guide you If not, look for alternative specialist advice• Help the old equity release Service, St Leonards, Mill Street, Eynsham, Oxford OX29 4JX mesh: wwwhelptheagedorgukSelect a loan term 6 months 1 day 18 months 2 days 3 days 4 days 5 existence 6 existence 7 existence 8 existence 9 existence 10 yearsPlease select a kind of insurance Life insurance Home and inside Car Breakdown services Health - medical Health -.

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Competition Commission investigates home credit - Published:25/05/07

Although the majority of consumers find home praise loans satisfactory, the rivalry Commission (CC) has found that consumers are paying a "far above the ground price" for the serviceThe CC has launched an inquiry into the home credit market and its initial answer indicate that there may be a be short of of sufficient competition in the market, leading to high prices for consumershouse credit refers to the door-to-door loan repair which offers small loans to customers and collects the repayments weekly or fortnightly from the customer's homeIt is often a convenient loan ability for people on low incomes or who have complexity getting other forms of creditPeter Freeman, acting chairman of the CC, supposed: "The home credit industry seems to us to give a service which meets its customer's requirements Various factors, however, come into view to point towards a lack of effectual competition which may mean home credit customers pay more than they should"No conclusions have been reached on the question of effective rivalry in the home credit marketplace and the CC investigation is ongoingMoneyExpert Limited is authorised and keeping pace by the Financial Services Authority (FSA Registration No 301654) The Financial Services power does not regulate some forms of mortgage agreement, credit cards, personal loans,.

Debt worries fading in UK - Published:21/02/07

Adults in the UK are less concerned about money owing than they were three months ago, reveals a novel pollA threatened increase in interest rates, rising gas bills and duty do not bother 76 per cent of all respondents, an add to of one per cent from the first three months of 2006Britons also seemed equally confident about their debts regardless of how much they owe, revealed the CreditExpert reportnow 18 per cent of those with manifold debts – classified as at least three credit cards and a mortgage – say they are bothered, down four per cent on demonstrationDespite not losing any slumber over the issue, the UK does seem to be collectively chipping absent at its debt mountain however, said CreditExpertAlmost a quarter – 22 per cent – have managed to slash their overall levels of borrowing and 30 per cent said that they would continue to reduce their money owing in the pending monthsA minority of 13 per cent said that they would be more likely to increase their debt burden in the second half of the dayMoneyExpert Limited is authorised and regulated by the Financial armed forces Authority (FSA Registration No 301654) The Financial armed forces Authority does not regulate some forms of mortgage contract, credit cards, personal loans, present accounts.

Homeowners unruffled by rate rise says survey by Finance News Bulletin [2]

Published: 15/01/07

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10 steps to equity release - Published:24/10/07

Competition Commission investigates home credit - Published:25/05/07

Debt worries fading in UK - Published:21/02/07