Finance
The Help to Buy scheme: How will it help first time buyers get a mortgage?
Plans revealed by Prime Minister David Cameron could help thousands of first time buyers get onto the mortgage ladder. The ‘Help to Buy’ scheme, as it is known, is a flagship policy designed to assist people in buying their first property. The scheme, announced back in the March budget, and which is costing the government an estimated £15.5bn, is not available to people who already own their homes, or who are foreign purchasers. David Cameron clarified the policy to MPs today, saying that it was ‘for people’s only home’, and [...]
Five ways to make the most out of your Credit Card
If you are only using your credit card as a means of purchasing, you are missing out on making the most of it. Used correctly, a credit card can not only save you money, but it can make money for you and you can use it to reduce your borrowing costs. Check out our simple guide to see if you are making the most from your credit card. 1. Do you have a loan? If so, a great way to cut the interest rates on that loan is to pay [...]
What to do if you have been hit by the Bedroom tax
Tenants in social housing have been hit by a new tax on their bedrooms this month. For private tenants, this new rule came in awhile ago, but it is only recently that people living in council houses or flats, or other types of social housing are now being affected. The new bedroom tax is not a tax per se, it is a reduction in Housing benefit, and you will be affected if you are deemed to have too many bedrooms for your needs. So for instance, a single person living [...]
Are you entitled to a discount on your council tax?
With the cost of just about everything rising, including food, petrol, energy bills and clothes, it makes sense to try and claim every discount that you are entitled to. But some people still do not know that there are several ways of claiming discount on their council tax, and could save themselves a fair few pounds in the process. Currently there the three main ways that you can pay less council tax on your home. One of these is to apply for a discount if you are living on your [...]
House sellers warned over ‘quick sale’ companies criticised by OFT
The Office of Fair Trading (OFT) has today warned potential house sellers of so-called ‘quick sale’ companies, who offer to sell a house in less than a week. Quick sales companies provide a service in which home owners can sell their property, in around seven days, but at a discounted price. There have however, been problems where home owners have signed a contract with the ‘quick sale’ companies for a set price, but the ‘quick sales’ companies have then reduced the price by several thousands, sometimes tens of thousands. Because [...]
Struggling with Debt? Are you on a low income? Consider a Debt Relief Order
With the Citizens Advice Bureau reporting a significant rise in the amount of people coming to them with serious debts problems, what do you do if you have debts that you simply cannot afford to pay and you are on a low income? There are a few options out there, such an IVA’s and even bankruptcy, but a little known solution for people who have little or no income is a Debt Relief Order or DRO. A DRO, is an order granted by the Insolvency Service and it is specifically [...]
Top Savings Tips for 2013
With the economy in financial freefall, and talks of a triple dip recession on the horizon, many people will be using up their savings, rather than putting money away. But if you have been canny enough to pop a few quid away, where is the best place to keep your savings? And don’t worry if you haven’t managed to save, we have still got some great tips for first time savers. 1. Our first tip, if you have money in a savings account, is to shop around to make sure [...]
Citizens Advice call for four Payday Lenders to be suspended after they are accused of harassing customers
Do you have a payday loan that you are struggling to pay off, and are being constantly harassed by the lender? If so, you might be interested to learn that the Citizens Advice Bureau (CAB) is calling for four major payday lenders to have their licenses suspended. This comes after customers have told the CAB that they have been repeatedly called and harassed and that this has caused undue distress. The CAB state that they have urged the Office of Fair Trading (OFT) to use their new powers and to [...]
Could we be heading towards a cashless society?
The last few years have seen many new technologies involving the way we pay for consumer goods, such as the chip and pin innovations, money transfers between mobiles and the enabling of smartphones to be able to process payments. However, we have not yet seen evidence that we might be heading towards a completely cashless society. This could all be about to change, as the recent developments in Canada from BA International, a banknote printing operation in Ottawa owned by Giesecke & Devrient in Germany, state that they are effectively [...]
Shopping For The Protection You Thought You’d Never Need
When most families think of protecting themselves against disasters, it is car, home owner, or medical insurance that comes to mind. These financial tools provide valuable protection against catastrophe in the case of a car accident, bad storms, or a sprained ankle. Leaving yourself unprotected against these mishaps can result in astronomical expenses that easily put your family budget into a tailspin. But what about protecting yourself against the likelihood that you are unable to work? Without an income, whether through illness or injury, how will you pay your bills? [...]
Could we see the end of paper money?
In a radical overhaul which could see the end of paper banknotes within three years, the Bank of England has suggested that we could be using plastic money by 2015. In a move which was first introduced in Australia in 1988, where plastic money was first used as a measure against counterfeiting, the UK could see the end of paper money for the first time in over 300 years. The plastic notes have proved to be a great success in Australia and are not only harder to copy from a [...]
Lump Sum Annuity Vs. Annuity Pension Plan
Choosing the right pension payout is an important decision that will affect you for the rest of your life. You have basically two choices when it comes to receiving a payout. You may choose a lump sum payment or regular monthly payments. While you might be tempted to choose the monthly payments, make sure you understand the full implications of your decision. Lump Sum Annuity Lump sum annuities are essentially annuity payments that you receive as a lump sum. The amount is transferred from your employer to a private retirement [...]
How to Buy a Green Home
If you are searching for the perfect new home, there is definitely one important thing you need to check – the color of the home. No, we aren’t talking about the hue of the siding. We’re talking about the eco-friendliness of your new digs. Both first-time homebuyers and seasoned veterans will do well to remember buying a home is one of the biggest decisions you will make. And we aren’t just referring to a financial decision; we are also reminding you the location, size, and style of your potential new [...]
The 5 Most Common Credit Card Fees
Each year, banks and creditors literally bring in billions of dollars just from collecting on credit card fees that they pull directly out of our pockets. These frustrating fees come from a seemingly endless list of items that these financial institutions feel justified in charging us for. Even in spite of the Federal Reserving having taken steps to protect us all from exorbitant rates like inactivity fees and unreasonable penalty fees, credit card companies and banks have still found ways to snatch up our money. So what exactly are you [...]
What Mortgage Is Best?
Buying a home is one of the biggest financial commitments that most people make during their lifetime, so the prospect can be both exciting and daunting at the same time. The mortgage market is less diverse than it was in the days before the credit crunch, but it’s still important for prospective buyers to research it to find a mortgage lender and a type of mortgage that suits them. Repayment Mortgage A repayment mortgage is one for which the borrower makes monthly repayments, part of which repays the original amount [...]
Thinking of taking out a PayDay loan this Christmas?
According to a new survey published this week by insolvency company R3, around 5million people are expected to take out short term so called payday loans to tide them over this Christmas. The survey also showed that one in ten people are forced to pay back these loans rather than use their money to buy food, and a whopping one in three payday loans are actually taken out to pay previous loans. However, a report revealed in the Independent yesterday suggested that some payday loan companies are targeting the most [...]
3 Very Common Mistakes On Credit Reports
Your credit cards, your car loans, your mortgage, your payment history – while they all may seem separate to you, they aren’t – they are all part of your credit history. And this credit history is recorded on your credit report. This report is available to banks, insurers, credit card companies… and you too. You are allowed to look at your report once a year for free. You can look at it more than that, but in most cases, you will have to pay for subsequent views. What does a [...]
Real Estate in Houston
If you were to list the top five places you’d like to live in the United States, what are the chances you’d pick one of the hottest cities in the hottest states, Houston, Texas? Maybe you’re the type that likes to be in the hot desert climate; however, most people I know don’t feel the same way at all. In fact, most people would probably avoid that area of the country unless their work or vacation brings them down that way. There are some great things about Houston that may [...]
Do It Yourself Superannuation Fund
With increasing tax rates and near unpredictable fluctuations in the future economy, individuals are constantly on the search to find the perfect management fund for their finances. There are many uncertainties that may bring about the need to create an efficient and less risky way of investing for the future. Due to the pressing need for efficiency, financial advisors have come up with the SMSF (Self Managed Super Fund) that makes it easier for people to control their own super investments in preparation for retirement. What is a SMSF? A [...]
How to Save on your Life Insurance
From December, the rules on certain insurances will change, as an EU ruling has decreed that insurers can no longer use gender when calculating premiums. This means that insurance policies such as life and car will now go up for ladies and even for some men. It is at times of recession and austerity that people tend to stop paying for life premiums but in reality, this is the very time when you should be upto date with your policies. Without a life policy, it falls to your family to [...]
