Loan Articles

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  • Honesty is the best policy when applying for loans

    Often we can be desperate for a loan. There may be something we dearly want to buy, or we may have urgent bills or expenses that can only be met by a loan. These are not the only reason people lie on loan applications. Sometimes the application can be very detailed and even intrusive, and a desire to avoid embarrassment or keep your privacy may lead you to be less than truthful. But no matter what the situation, it is almost always a bad idea to lie on a loan application.


  • The new data sharing - What will it mean for your loan

    The idea of data sharing is growing in popularity among lending institutions, creditors, and industry observers. While in the past, limited data on a person was shared, now more complete records are shared when a person applies for a loan. Information may be shared in relation to mortgages, personal banking, and personal loans. The idea is that with a widespread practice of data sharing, the mounting problem of over-indebtedness may be reduced and responsible lending practices increased.


  • Take a Holiday on Credit

    Many people long for the perfect getaway, whether it is a day, two days, or two weeks. However, the idea of paying for that much-needed stress reducer is often enough to create more stress than the holiday reduces. To this end, some companies are offering holidays on credit. Consumers can choose from a multitude of packages offered at varying rates per month. This allows Britons to choose holidays that fit into their budgets, while knowing the monthly cost ahead of time. (Spending while on vacation is another matter...)


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  • The New Loan Rules

    In late May 2005, the Department of Trade and Industry announced changes to loan rules as part of the Consumer Credit Bill designed to help consumers better understand their loan agreements. Lenders are now required to provide consumers with information that will help them shop around for the best deal.


  • Strange but true - loans for strange purposes

    People need money (or think they do) for a wide variety of reasons. As a result, the business of personal loans is a booming one. While many people typically think of standard purposes when "loan" comes to mind, the reasons for seeking a personal loan are far and wide. Not surprisingly, many people seeking loans want the funds to go toward large purchases or projects, such as buying or renovating a home, purchasing a car, or taking a holiday. But if you think that these summarise the typical loan, think again!


  • What to Watch out for in a Cheap Loan

    When you're looking for a cheap loan, you probably just think about the interest rate (or APR), but there are other charges to consider that might make a difference. For instance, some lenders charge a loan arrangement fee when you apply or a fee for rapid delivery of the money into your account. Like credit card companies charging an annual fee, this might bring your interest rate down, but you'd be better off looking for a cheap loan with no fees and a low rate.


  • Find the Best, Cheap Loan That's Right for You

    There are plenty of cheap loans available in the UK. Most high street banks and building societies offer one, most of these companies offer an online option as well, and new online banks are launching all the time. It's difficult to know where to start looking for your cheap loan, but all this competition means that there's one for everyone, it is just harder to sort through the huge amount of offers to find that perfect loan for you.


  • House-price-falls-arrested-For-now

    Latest figures from the Halifax show house prices rose by 1.3% in December (5.2% year-on-year) following three successive monthly falls. However, prices in Q4 were marginally lower (-0.8%) than in Q3. The average price of a home in the UK meanwhile increased by £11,759 over the year to £197,039, while the annual increase of 5.2% made 2007 only the second year since 2001 when prices have risen by less than the long-term average of 8%.


  • Bargain buy? Or old turkey?

    Shoppers hitting the New Year sales could find that goods at knock-down prices aren't necessarily the bargains they seem to be, warns Which? Legal Service. Indeed, some retailers misrepresent sale goods, using incorrect advertising and misleading price tickets, says the professional legal advice team from Which?


  • Job security fears spur seasonal gloom

    Consumer fears over the security of their jobs have hit a six-month high, despite recent official data demonstrating the health of the UK labour market, according to the latest Consumer Barometer from Lloyds TSB Corporate Markets. The December survey found that consumers felt increasingly negative about the safety of their jobs. This was illustrated by a sharp drop in the balance of consumers feeling more rather than less secure, to -4% from -1% in November; the lowest reading for six months. The balance is the difference between the number of consumers expecting an increase and the number of consumers expecting a decrease.


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