Posted on September 7, 2008 01:14:18 PM
Do Not Be Tricked Into Taking Out High-Cost Payment Protection Cover
By: Simon Burgess
Payment protection cover has seen many problems over the last few years which have all had a negative effect on the family of payment protection products. One of the many problems associated with policies has been that they are ?pushed? alongside a loan at the time of borrowing. A popular consumer watchdog announced that out of 41 lenders they contacted regarding taking out a loan, 24 of them included payment protection with the quote.
While taking out a payment protection policy in order to cover your loan or credit card payments can work well in the event of being unable to work, you must give a lot of thought to which policy you take out. This means sitting down and reading the key facts that come with the cover and understanding them.
It is important to be aware that there are exclusions included in the protection that can mean you would not be eligible to claim. This means that the 24 quotes that were given to the watchdog that included cover could possibly have been mis-sold ? had the consumer taken it without being aware that the exclusions existed?
Those who only work on a part-time basis, are retired or self-employed, or who have an ongoing medical condition would not benefit from taking out payment protection insurance. These are just some of the exclusions that can be frequently found in a policy.
Those individuals who have loan or credit card payments to make each month who want the peace of mind a policy can bring should visit a specialist website. There are many benefits to going online with an independent provider. The information they provide enables the consumer to make an informed choice regarding suitability before they take on the cover. Getting an immediate quote based on your age and the amount you wish to cover each month is easy and along with this the quote will come with the key facts.
But one of the biggest reasons for going with a specialist is the money you can save on the premiums. Buying cover from an independent specialist can save you up to 80% in comparison to the quotes some high street lenders offer. A quality policy provides peace of mind that you would have a tax-free sum of money if you were to find yourself incapable of working.
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You do have to be out of work for a defined period of time before the policy kicks in. However, with the majority of ethical providers the cover is backdated to day one. Usually you begin to receive the benefit from between 30 and 90 days of continuously being out of action. Payment protection cover then continues for between 12 to 24 months, depending on the conditions set out by the provider. Having this income each month would allow you to relax and get well without suffering from the stress of having to find the money by some other means so that you could continue meeting your loan or credit card repayments each month.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9762.shtml
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Posted on September 6, 2008 01:08:03 PM
Top 5 ways to ease the strain on household finances
By: David Lynes - Loans4
The onset of the global credit crunch across the UK last year, combined with the after effects of a series of interest rate rises, and rising living costs all contributed towards the difficulties that many households have had to face over recent months. For many the strain on household finances has become increasingly pronounced, and industry officials have expressed concern that many people may be pushed into insolvency as a result of these financial strains.
If you find that your budget is being overstretched each month and you want to try and ease the strain on your household finances there are a number of steps that you can take, which could help to improve your financial situation. This includes:
1. Consolidate your debts. If you have a range of higher interest debt such as credit cards, store cards, and high interest loans, you could save a small fortune by paying off these debts with one lower rate consolidation loan, which can ease financial management as well as reduce your monthly outgoings.
2. Look for cheaper services. The cost of certain household expenses, such as energy bills, have risen over recent weeks, and you could find that taking the time to compare prices and switching your providers can save you some money. The difference may not be great but with every bit adding up it is well worth checking what sort of savings you can make.
3. Remortgaging: With interest rates having come down twice in the last few months it is possible that you can get a cheaper mortgage deal that will save you money on your monthly repayments if you take the time to compare. Make sure you look out for any hidden costs or arrangement fees though.
4.
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If you have a number of high interest credit cards it may be worth switching to a 0% balance transfer or low rate balance transfer card in order to save money on interest and reduce your monthly repayments. Make sure you check the transfer fees on 0% cards and the interest rate on life of balance transfer cards.
5. Make cutbacks. Most people will find places where they can make cutbacks when going through their outgoings, and if you can make cutbacks on things such as spending on clothes and entertainment, subscriptions and memberships, and other non-essential costs then this could save you some money each month.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9671.shtml
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Posted on September 5, 2008 12:12:33 PM
Cheap Loans Â? Tips For Borrowing Money At Low Cost
By: George Kane
When availing a loan, it is important that the borrowed amount does not become a burden on your limited earnings. If any such loan results in high monthly outgoings, then you are likely to make payment faults. Your focus, therefore, should be on finding loans at cheap rate of interest and at low costs.
You should note that a low rate of interest on any loan comes only when the borrower does not carry risks. This means that your credit history should have no blemishes like late payments and payment defaults. It is advisable to check your credit report, which you can get from any of the three major bureaus. Make sure that the report has mentioned all of your payments that you made in the past. Ensure that your FICO credit rating is above 600. In case of the credit score falling to lower levels, ensure that you approach the lenders with an improved score.
To ensure the interest at low rate, borrow an amount against your home or any property. Such a secured loan has little risks for the lenders, and they are ready to reduce the rate. However, the lender will sell the property, if you make do not make timely repayments. It is advisable to borrow an amount, which is lower than value of the property that you pledged as collateral.
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Nevertheless, such a loan may come at comparatively lower rate, if the borrower boasts of excellent or good credit history.
Another aspect of cheap loans is its fewer additional charges. This is because, usually, these loans come through online process, which is less costly for the borrowers. Make sure that you have compare different lenders, in order to find out which lender is charging interest at lower rate.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9701.shtml
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Posted on September 4, 2008 12:08:12 PM
Top 5 things to look out for when using your credit card abroad
By: David Lynes - Loans4
For most people that tend to travel abroad from the UK taking a credit card with you is a natural thing to do, as it is important that when you are far away from home you have the means to make purchases or cash withdrawals in the event that you run out of available funds. With credit cards you can make purchases direct onto the account or take out the cash that you need, and this can prove to be an invaluable facility for many of those travelling abroad on pleasure or business.
However, although using a credit card abroad can prove more convenient, simple, and affordable, there are a number of things that you need to look at before you make your final decision. By keeping your eyes peeled you could help to avoid some of the different types of credit card debt, and below you will find some of the different credit card debts and problems that could affect you.
1. Check on fees charged on transactions. Credit card companies these days charge a foreign transaction fee on any transaction that is made on your card, and the cost of these fees can vary. You should make sure that you opt for a company that that charges minimal fees for transactions carried out on the card, as the overall cost of a number of card transactions made abroad in any one month can really vary.
2. Remember the dangers of cash withdrawals. It can prove very tempting to withdraw cash when you are abroad and you wish to take money out for spending. But you should bear in mind that this can be a very costly transaction. In addition to the foreign transaction fees you will have to pay the currency transfer fees, and this can add up to a tidy sum over the course of time.
3. Look out for Dynamic Currency Conversion. There are some retailers, hotels, shops, and other places abroad that will charge your card in your home currency instead of the local currency of the destination that you are in. The bad thing about this is that many will charge an additional currency conversion rate of up to 4% in some cases, which can really bump up the cost of any purchase.
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4. Theft and fraud of credit cards. Brits have become high risk victims of credit card fraud abroad over recent years, and this can prove to be a very stressful and costly experience. Always keep a close eye on your card, and in the event that it does go missing make sure that you report it right away.
5. Remember you have protection. In a recent House of Lords ruling it was decided that credit card providers were to be jointly responsible with suppliers for goods and services that were purchased abroad which then either didn?t turn up or were faulty. Don?t forget that you have this protection in the event that you need to use it.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9652.shtml
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Posted on September 3, 2008 10:37:59 AM
Short Term Bridging Loan: Integrates Your Financial Condition
By: Eva Baldwyn
Generally a large sum is required when you have to accomplish a big project. Buying of a home or any other real estate asset can be one of your projects. These projects require large sum for their procurements that is usually absent with most of the individuals. Sometimes, you just need a sum that is repaid instantly when you get an ultimate financial help on yours. Considering the typical situations with the borrowers, now short term bridging loan is provided to them. You can avail this loan to buy any king of real asset needed to you.
Usually, short term bridging loan is required when you find your final financial resources at distance that can?t come to help at that time. Since, any delay in fund can lead to slip of the opportunity of buying a real asset, you instantly required a mid-term help.
Short term bridging loan can be obtained as interim financial help for your buying of any real asset. It helps you sail across the gap of financial crisis until you receive your ultimate solution. Generally the utility period of this loan is from 3 months to 12 months and can utilize on any king of expenses related to your real asset buying.
Short term bridging loan is a secured loan. It is secured against the very real property for which it is financed. For the allocation of your amount, a method called loan to value ration is used. Generally, you are provided with a loan to value ratio of 80% as amount. This means, you can get up to 80% of the total value of real property as a loan amount.
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Generally the rate of interest is calculated monthly that accumulate to a considerable level annually.
To avail short term bridging loan you can contact the offline and offline lenders both. The online lenders can be a simpler option for you, as it can be accessed easily and can be compared also in a short while to achieve a better option.
Now, with the help of short term bridging loan, you are provided a huge sum for buying your costly asset. It helps you grab that opportunity that relishes you comfort for a long time. It really makes your dream possible to have your own home or any other real estate asset.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9687.shtml
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Posted on September 2, 2008 10:22:02 AM
Mastering Your Mind For Stock Market Profit
By: Daniel Kertcher
The stock market is made up solely of buyers and sellers. These buyers and sellers may be super-huge, billion dollar institutions trading enormous amounts of money everyday or private individuals trading just one or two parcels of shares each year. Regardless, at its core, the market is made up 100% of people. People with emotions just like you and me.
You?ve no doubt heard the phrase, ?History repeats itself?. Well, despite all of our technological achievements, we have still not mastered our emotions. History in the stock market always repeats itself because the markets are driven by two of the strongest human emotions, FEAR and GREED.
Markets boom and bust with cyclical regularity because of human nature. We are creatures of habit. For those who can accept this and learn to control their emotions, the rewards are outstanding. By recognising emotion in the markets, we can time our entry and exit strategies and profit from history repeating itself time and time again.
Investors like Warren Buffet recognise that investing is 80% psychological and only 20% mechanical. It doesn?t matter how good your system or strategy is. Unless you are mentally focused and as emotionless as possible, you will fail. This is much easier said than done, of course. Why? Because we spend our entire lives developing our psychological feelings towards money. These feelings are often referred to as Comfort Zones.
Comfort Zones
One of the most basic human needs is the feeling of Certainty. When we are certain of our surroundings we can rest easy and enjoy our lives. Uncertainty brings risk and makes us feel anxious and very uncomfortable. Since we were little children we have developed our comfort zones and we all have different comfort zones when it comes to money. Some of us feel that we must work very hard to make money.
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If you look at the wealthiest people in the world, very few live within these comfort zones. Their money comfort zones see them having an abundance of money. They believe that there is an enormous amount of money, more than enough for everyone to enjoy. They know that there are trillions of dollars circulating the world everyday looking for a home. They know how to make money and that making it is ridiculously simple.
Our emotion of certainty dictates our comfort zones. If we are certain that money is hard to make, then it will be, and we will be certain in our comfort zone. We would probably not be rich, but in our minds, we would be right. Alternatively, if we are certain that money is easy to make, and we just have to know how, than it will be easy to make, and we will be certain in our comfort zone.
Obviously, if your comfort zone has you believing that money is difficult to make, or some other negative feeling, then you will have to break out your comfort zone and climb into another one. When you do this, you will feel very uncertain. This can be very scary and is the reason why, despite all of the opportunities available, 95% of people end up broke or financially dependent when they reach 65 years of age.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9614.shtml
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Posted on September 1, 2008 10:21:49 AM
Consolidation loan Â? don\’t get caught out by the credit boom
By: David Lynes - Loans4
As many people have already seen the credit boom that has given many of us easy access to affordable finance over recent years is quickly diminishing, with a growling number of lenders restricting credit and hiking up rates in order to minimise on the damage that the credit crunch is causing in the financial markets. As the credit boom comes to an end, fewer and fewer people will be able to get access to affordable finance, and many will be left with no choice but to opt for more expensive finance ? with some being unable to get finance at all.
It is important to think ahead when credit conditions are as tight as they are these days, particularly with industry experts predicting that the credit crunch will continue to take effect over the course of this year, further fuelling tighter credit conditions. For those looking to take out affordable finance time is now of the essence. If you are thinking of consolidating high interest debts such as credit cards, store cards, and higher interest loans, then it is advisable to start looking around for a low rate consolidation loan as early as possible, otherwise you may find that you have to pay higher rates of interest, or that you no longer have access to this type of finance.
At present, although many lenders have already tightened their belts and restricted lending, there are still some affordable finance deals available for those wishing to consolidate their debts, ease their financial management, and reduce their monthly outgoings. With high petrol cost, rising food prices, and high mortgage repayments, it is important to try and cut costs as much as possible, and one if the ways in which you can do this is by consolidating all of your more expensive debts into one lower rate debt, which increases convenience and can increase monthly disposable income.
However, in order to fully benefit from a consolidation loan it is necessary to find a loan that offers a competitive rate, so that you are saving money on interest and on monthly repayments compared to the debts that you are paying at present. To maximise your chances of getting a competitive rate early action is advisable, as the longer you wait the less likely you are to find an affordable consolidation loan if lenders continue to tighten their lending rules.
The end of the credit boom has affected many people already, with more mortgage application rejections and a higher level of credit card applications reported for the end of last year.
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Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9656.shtml
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Posted on August 31, 2008 10:16:58 AM
Options Â? Your Choice In The Stock Market
By: Daniel Kertcher
As you read this stock market article, you have a few choices. You could choose to continue reading, or you could choose to stop reading it and watch t.v. It?s your option. You don?t have the obligation to go and watch t.v, just the option.
For the average person, the share market is the most visible form of financial market, and perhaps the only market in which they have some direct contact. The options market is usually seen to be too risky or too complicated. Well, the truth is, the options market provides many benefits to share investors and traders, for those that spend some time learning what options have to offer.
Options warrant attention
There have been options traded on the Australian share market since the 1960?s, and they are still big business today. Exchange traded options (ETO?s) became very popular in the 70?s, as these allowed a greater number of traders to enter the market. So why are options so popular? Options provide a variety of benefits over ordinary shares, which, when used correctly, can drastically reduce the risks involved in owning shares.
But before we understand how options can help us, it is necessary to know what an option is.
An option is a contract between two parties regarding the price direction of a particular share. One party believes the price of the share is going to rise in a certain time, the other believes the price is going to fall in that time. Depending on which direction each party believes the price is going to go, they will either buy or sell an option.
The person who purchases the option has the right but not the obligation, to buy or sell a set number of shares, at a pre-determined price on or before a set date in the future.
As you can purchase the right to either buy or sell shares, there are thus two types of options, a Call option and a Put option. A Call option gives the owner the right to BUY shares, whereas a PUT option gives the owner the right to SELL shares.
For example, let?s say that you believe that XYZ limited shares are going to rise in value over the next month. They are currently trading at $1.00 per share. You can either purchase 10,000 shares right now, and invest $10,000 or you could buy the right to purchase them at $1.00, one month from now. For this right, you will pay premium. The premium you will pay will be approximately 4 cents per share. Therefore, you will invest $400 ($0.04 x 10,000).
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20 in the month, then you can exercise your right to buy the shares at $1.00. You will therefore make a profit per share of 16 cents ($0.20 profit ? $0.04 premium). With 10,000 shares, you will make a profit of $1,600, or 400% on your original investment.
Had you invested $10,000 in the first place, you would have only made $2,000, or 20% profit.
At the same time, had the price fallen below $1, say to $0.80 cents, then you would not exercise your right to buy the shares and you would walk away, losing only your $400. You have the option to buy the shares, not the obligation. But, if you had bought the shares, you would have lost $2,000, or 20% of your original capital.
Options can act as a risk management tool. That is, you can limit your losses, whilst still taking advantage of the share price increases.
One of the major advantages over purchasing shares outright, is that with options, you can also buy the right to sell, in case the share price falls. Therefore, you can profit from the market if it is rising or falling in value!
Options are a little more complicated than shares to understand, but with a little practice, you will discover that options are a fantastic financial instrument. With options you can ?insure? your share portfolio, generate a monthly income and return 100% and more on trades. You just have to know how. The Platinum Pursuits report will feature many articles on options and we welcome you to attend our monthly seminars, where we will teach you how to profit with options.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9612.shtml
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Posted on August 30, 2008 10:00:41 AM
Check A Payment Protection Policy Very Carefully Before Buying
By: Simon Burgess
A payment protection policy is taken out by those who have credit repayments to make each month and who wish to protect those repayments. A policy can be taken out to cover against being unable to work if you should have an accident or get ill, or become unemployed through no fault of your own.
However, there are certain conditions that could mean a policy would not benefit the individual. Due to the exclusions present in all policies designed to safeguard payments, you have to check the cover thoroughly before taking it out. Those individuals who suffer from a pre-existing illness, are of retirement age, only work part-time or are self-employed would certainly have to read the small print very carefully. The cover can be valuable and give a much needed income, but only if the policyholder meets the set criteria. It is also worth nothing that statistics show that only 4% of those who take out a policy actually claim on it. Furthermore, 25% of those who do make a claim find their claim rejected by the provider.
You should also make sure that you are not covered for being unable to work by some other means. Around 85% of employers will actually offer much more than the statutory sick pay they have to pay out. Those who are extremely lucky will find their employers will pay out a full wage for a certain period of time. This of course means if you are able to get back to work quickly you would not need a protection policy.
If you believe protection cover would benefit you then go with a standalone provider for a quote. Protection products can be extremely expensive but by choosing to shop around for your quotes with an independent provider you can save as much as 80% on the premiums. While you can take cover alongside the loan at the time of borrowing this could mean you would pay five times more than you would if you shopped around.
The high street lender can play many tricks when it comes to offering protection. Some will work out how much the insurance would cost and then add this onto the amount you are borrowing. This means that instead of quoting you a monthly premium for the cover you will be paying interest on it.
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This is based on the monthly amount of your debt and your age at the time of applying. In some cases the savings you make are immense.
Another huge benefit of going with a specialist provider for your protection quote is that they are more ethical. They will ensure that consumers have access to the FAQs regarding a policy and will explain the technical jargon in plain English, which takes the confusion out of buying a policy.
The majority of policies offered by an independent payment protection specialist will begin to provide the policy holder with a tax-free income from between the 30th and 90th day of being incapable of working. The policy gives peace of mind and allows the individual to relax and concentrate on getting well without financial worries. The pay out would last between 12 and 24 months depending on the terms set out by the provider. You can find the terms and conditions in the key facts that are supplied by the provider on their website before signing up for cover. This makes comparing and deciding if a policy is value for money so much easier.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9746.shtml
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Posted on August 29, 2008 09:46:38 AM
Quick loans Â? preparation before applying for a loan
By: David Lynes - Loans4
It is important that you do your homework before you make an application for a loan, as this will not only help to ensure affordability for you, but could also help to speed up the whole process, enabling you to get the loan you need without any unnecessary delays. By doing your research you will find that the whole loans process can be faster and easier, and you can get the money that you need far more quickly.
The type of preparation that you need to make depends on the type of loan that you are applying for. There are both secured and unsecured loans available depending on your needs and circumstances. Secured loans are loans that are secured against an asset, which is usually the home, and are therefore available to homeowners only. An unsecured loan is based on contract and not secured against any asset, and these loans are available to non-homeowners as well as homeowners, but you will usually need very good credit to get an affordable unsecured loan.
Whether you are applying for a secured or an unsecured loan conducting some research into the different products available is vital in order to increase affordability. You should browse a range of loans from a variety of lenders to find deals that offer competitive rates and suitable terms. You can do this with ease and speed online, and you can also make your application online, which will help to speed things up if you are looking for quick loans. You may want to consider using a specialist broker who can do the legwork for you, as this can save you time and hassle, and can increase your chances of finding a suitable loan.
You will need to provide certain evidence when you apply for a loan, and it is a good idea to get as much of the paperwork and documentation together as possible in advance. This includes things such as payslips and proof of address.
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You also need to make sure that you check the eligibility requirements from one lender to another before you decide which loan to apply for. This will also help to speed things up, as you will not be wasting your time applying for loans that you are not even eligible to take out. Again, you can do this online with ease and speed, or you can simply use the services of a broker, who will be able to determine which loans you are eligible for based on the information that you provide.
Article Source:
http://www.articlecity.com/articles/business_and_finance/article_9634.shtml
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