UK Loan Store

Repossession orders are expected to keep rising

Fri, 16 May 2008 19:56:50 +0800

The Ministry of Justice is due to release a report into repossession levels and repossession order levels this week, and many expect the picture to look very bleak. According to recent report repossession levels could rocket this year by around 67%, as homeowner continue their struggle with increased repayments on their mortgages, rising living costs, and higher bills, all of which are having a profound impact on household finances.

Banks turning more unsecured debts into secured ones

Fri, 16 May 2008 19:56:36 +0800

Bad debt levels have been the cause of major problems for banks and lenders in the UK for some years, but over the past year an increasing number of people have defaulted in their debts, with increased mortgage payments, bills, and living costs impacting on their ability to pay. However, it seems that many banks are looking to try and reclaim these debts by whatever means necessary, even if it means getting the unsecured debts turned into secured debts in order to increase their chances of getting the money back.

Watch out for mortgage arrangement fees

Sat, 10 May 2008 14:27:44 +0800

These days taking out a mortgage can be very expensive and difficult. A couple of years ago, lenders were doing all that they could to make it easier and more affordable to take out a mortgage, such as offering higher income multiples and increasing repayment periods for borrowers.

Vorderman gets slated again over promotion of risk loans

Sat, 10 May 2008 14:27:22 +0800

It seems that Carol Vorderman can't do right for doing wrong these days, after being slated once again by financial industry officials over her promotion of risky loans. The Countdown star has been the face of First Plus loans for a number of years now, and over the past couple of years has found herself at the centre of controversy as a result of the financial products that she has promoted.

Credit crunch still causing turmoil for borrowers

Fri, 11 Apr 2008 13:50:00 +0800

Last summer saw the chaos that has become known as the global credit crunch spread across to the UK having been sparked in the sub-prime mortgage sector in the United States. Very few of us were aware of just what an impact the credit crunch would have on the financial markets, and many may have assumed that it was a short term thing that would soon pass.

Looking to get onto the property ladder? Start saving!

Tue, 08 Apr 2008 17:39:33 +0800

For many first time buyers the news about falling interest rates coupled with speculation that house prices are going to be plummeting is good news, as it means that after years of difficulties when it comes to being able to get onto the property ladder they can finally enjoy some hope of success and affordability. However, just as many first time buyers may have been thinking that the tables had turned and they could finally enjoy becoming a homeowner further problems have emerged that could paid to all that.

Personal injury claims need to be settled more quickly

Tue, 08 Apr 2008 17:39:53 +0800

According to officials from the Association of British Insurers personal injury claims need to be settled more quickly, and there is a government procedure that could help these claims to be dealt with more speedily if it is put into place. The ABI has called for the government to bring in a faster system as early on as possible, stating that there can be huge delays in the settlement of personal injury claims, and that this issue needs to be addressed.

Avoid devaluing your home with shoddy DIY

Wed, 02 Apr 2008 13:11:46 +0800

Experts have been sending out warnings to homeowners with bags of enthusiasm but very little skill when it comes to DIY – don't carry out any work over the holidays or you could shave thousands off the value of your home! With the Easter holidays well underway, and with the summer holidays only a few months away, many homeowners may have embarked upon or may be planning to embark upon various DIY projects around the home. This is all well and good if you have the skills, resources, and confidence to make a good job of it. However, if all you have is an impressive toolbox and a bagful of enthusiasm then it is simply not worth taking the risk.

Are you planning to jump off the property ladder?

Wed, 02 Apr 2008 13:11:17 +0800

Over recent years there have been many reports about first time buyers that are trying hard to get onto the property ladder, but have had very little success due to high property prices and rising interest rates, as well as the more recent problem of restricted access to mortgages. However, there seems to have been a turnaround, as a recent report has shown that many people are not trying to jump off the property ladder whilst the going is still good so that they are not left saddled with a property that has plummeted and value and possibly left them in negative equity.

Is it becoming more difficult to get 100% mortgages?

Mon, 10 Mar 2008 14:46:19 +0800

For first time buyers 100% mortgages have provided a valuable means to getting on to the property ladder for many years. First time buyers so not have an existing property, and therefore do not have the luxury of equity to use towards a deposit and to cover the costs of purchasing a home.

The credit crunch will continue to hit this year

Thu, 06 Mar 2008 22:24:37 +0800

Before last summer many people in the UK had never heard to term credit crunch, but now this has become a well known term that has become associated with financial doom and gloom.

Making sure you keep up with repayments on finance

Thu, 28 Feb 2008 16:19:01 +0800

From time to time we all need to borrow money for something or another, whether it is in the form of a mortgage to get our own home, a car loan to buy a vehicle, or a credit card to provide ease and convenience on a day to day basis.

Situation eases for cheap fixed rate customers

Thu, 28 Feb 2008 16:18:48 +0800

According to a recent report the situation for consumers that are currently on cheap fixed rate mortgages that are due to come to an end is far less bleak than it was some months ago, with interest rate having fallen twice in the past few months.