Ocean Finance TV - Oceans Top 10
Monday, 19 October 2009
Confidence returning to house prices, says RICS
Confidence is returning to the housing market as a survey of estate agents gives the most optimistic outlook for prices since the credit crisis began.
The balance of agents saying prices were on the rise again in the last three months reached 22 per cent, the highest level since May 2007, according to the Royal Institution of Chartered Surveyors.
A shortage of supply is encouraging buyers in many areas to offer higher prices to secure the best properties.
Separate figures from the Council of Mortgage Lenders also gave the housing market a boost, showing the number of loans approved for those looking to buy a new home was 29 per cent higher in August than in the same month of last year. However, a traditional seasonal dip meant numbers fell slightly on the previous month.
Ian Perry, a spokesman for RICS, said: “A lack of supply is still underpinning the rise in house prices with new instructions to estate agents only edging up very gradually. “Despite the problems first-time buyers are continuing to encounter in securing finance, the level of enquiries from potential purchasers is increasing. This imbalance between demand and supply suggests that house prices will move higher in the near term.”
RICS said the average number of sales per estate agent during the past three months also increased to 18, the highest level since March last year.
Economists warned a greater of supply of houses for sale coming onto the market would have adverse effect on prices.
Howard Archer, an economist at Global Insight, said: “House prices are currently being supported by a lack of properties for sale. Paradoxically, a significant pick up in the amount of properties coming on to the market due to recently firmer prices would actually be liable to hold down prices further out.”
The CML said the number of house purchase loans fell 5 per cent from July to 52,700 in August.
But there was a sharp drop in the number of remortgages, down 22 per cent from July to 32,000 in August and 57 per cent lower than a year ago.
Remortgages
Many home owners who are coming to their end of their initial deals are choosing to slip automatically onto their lenders’ cheaper standard variable rate rather than remortgage.
Exclusive research for The Daily Telegraph shows 26 lenders out of 87 lenders have an SVR of more than 4.6 per cent.
It means the average margin between Bank of England interest rates at 0.5 per cent and the average SVR has risen from 1.72 per cent at the end of 2007 compared to 4.1 per cent today.
The highest SVR is 6.45 per cent while the lowest is just 2.5 per cent, according to the figures by personal finance website Moneyfacts.
Paul Samter, an economist at the CML, said: “House purchase activity has revived from its moribund state at the beginning of the year. It will be a drawn out recovery process with seasonal ups and downs, but house purchase activity is now on a firmer footing.
“But remortgaging demand has fallen away in the low interest rate environment and this is dragging down gross lending levels overall.”
Melanie Bien, of mortgage brokers Savills Private Finance, said: “The remortgaging market is dead and buried.”
The balance of agents saying prices were on the rise again in the last three months reached 22 per cent, the highest level since May 2007, according to the Royal Institution of Chartered Surveyors.
A shortage of supply is encouraging buyers in many areas to offer higher prices to secure the best properties.
Separate figures from the Council of Mortgage Lenders also gave the housing market a boost, showing the number of loans approved for those looking to buy a new home was 29 per cent higher in August than in the same month of last year. However, a traditional seasonal dip meant numbers fell slightly on the previous month.
Ian Perry, a spokesman for RICS, said: “A lack of supply is still underpinning the rise in house prices with new instructions to estate agents only edging up very gradually. “Despite the problems first-time buyers are continuing to encounter in securing finance, the level of enquiries from potential purchasers is increasing. This imbalance between demand and supply suggests that house prices will move higher in the near term.”
RICS said the average number of sales per estate agent during the past three months also increased to 18, the highest level since March last year.
Economists warned a greater of supply of houses for sale coming onto the market would have adverse effect on prices.
Howard Archer, an economist at Global Insight, said: “House prices are currently being supported by a lack of properties for sale. Paradoxically, a significant pick up in the amount of properties coming on to the market due to recently firmer prices would actually be liable to hold down prices further out.”
The CML said the number of house purchase loans fell 5 per cent from July to 52,700 in August.
But there was a sharp drop in the number of remortgages, down 22 per cent from July to 32,000 in August and 57 per cent lower than a year ago.
Remortgages
Many home owners who are coming to their end of their initial deals are choosing to slip automatically onto their lenders’ cheaper standard variable rate rather than remortgage.
Exclusive research for The Daily Telegraph shows 26 lenders out of 87 lenders have an SVR of more than 4.6 per cent.
It means the average margin between Bank of England interest rates at 0.5 per cent and the average SVR has risen from 1.72 per cent at the end of 2007 compared to 4.1 per cent today.
The highest SVR is 6.45 per cent while the lowest is just 2.5 per cent, according to the figures by personal finance website Moneyfacts.
Paul Samter, an economist at the CML, said: “House purchase activity has revived from its moribund state at the beginning of the year. It will be a drawn out recovery process with seasonal ups and downs, but house purchase activity is now on a firmer footing.
“But remortgaging demand has fallen away in the low interest rate environment and this is dragging down gross lending levels overall.”
Melanie Bien, of mortgage brokers Savills Private Finance, said: “The remortgaging market is dead and buried.”
American International Group (AIG) Subsidiary Acquires Ocean Finance and Mortgages Limited
American General Finance Corporation, a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG) has entered into an agreement to acquire Ocean Finance and Mortgages Limited (Ocean), a leading finance broker for home owner loans in the U.K., from its founder and CEO, Mr. Paul Newey. Subject to regulatory approvals, the transaction is expected to close in late 2006 or early 2007.
Thursday, 10 September 2009
How To Buy A Car
Hundreds of thousands of people are likely to buy cars after the new "59" number plate is released today, with more than two million being sold last year. But many motorists will pay far more than they need to because they fail to choose the best means of financing the deal before they buy.
A new car is the second most expensive purchase many people make, after their home. So, consider your options carefully before signing on the dotted line. Surprisingly, research from the motor insurance group esure shows that nearly a third of buyers do not even haggle over the price of a new vehicle, and only one in 10 spends more than an hour researching finance options
"With the cost of motoring on the up, it's more important than ever for drivers looking to change their car to make sure they get the best deal," says esure's Mike Pickard. "Whether it's bargaining on the forecourt or researching the right finance package or insurance policy, an hour or two of research at home can make a real difference to your wallet."
Buy Ford Mondeo
Your dealer may offer you a trade-in value for your old car, but this is likely to be less than it could fetch on the open market – provided you can find a buyer. Before agreeing to trade your old vehicle as a deposit, it is worth advertising it on free websites such as gumtree.com and ebay.com to see if you can obtain a better price. If your car is worth less than £1,000 and is more than 10 years old, consider taking advantage of the Government's scrappage scheme.
Once you know the make and model of the car you would like, contact your insurance company or, better still, look at price comparison websites to find out what it will cost to cover. Young drivers and those with convictions for traffic offences should beware buying flashy or fast models they cannot afford to insure.
Anyone who is keen to keep costs to a minimum should have a number of different models in mind and compare insurance costs before buying. It is also worth noting that if you have made insurance claims in the past, you may not be insurable on some more powerful models.
Having sorted your deposit or trade-in and your insurance, you must consider how you are going to pay for the car. Honest John, motoring agony uncle for The Daily Telegraph, says the best way of doing this is with cash. "People often get themselves into such a mess with car debt, but it's unavoidable for most."
Where you need to use credit, remember that the headline interest rate may not tell the whole story. You should also consider arrangement fees and any early exit penalties. Always compare both the monthly outgoings and the total you will have to repay.
"Each route will offer different benefits and drawbacks, so be careful," says Gemma Stanbury, head of savings, loans and debt at price comparison website Confused.com. "It's vital to know how much you'll pay back in total – that way you can check which way will be the most appropriate for you."
There are three main options for motor credit: you can get it from the dealer or a bank or building society. Many drivers take the easy option and sign on for the dealer finance package offered by the car salesman. While this may be the least time-consuming option, it is often the most expensive. Personal contract purchase, loan purchase and hire purchase are the three main payment options that a car dealership will offer.
A new car is the second most expensive purchase many people make, after their home. So, consider your options carefully before signing on the dotted line. Surprisingly, research from the motor insurance group esure shows that nearly a third of buyers do not even haggle over the price of a new vehicle, and only one in 10 spends more than an hour researching finance options
"With the cost of motoring on the up, it's more important than ever for drivers looking to change their car to make sure they get the best deal," says esure's Mike Pickard. "Whether it's bargaining on the forecourt or researching the right finance package or insurance policy, an hour or two of research at home can make a real difference to your wallet."
Buy Ford Mondeo
Your dealer may offer you a trade-in value for your old car, but this is likely to be less than it could fetch on the open market – provided you can find a buyer. Before agreeing to trade your old vehicle as a deposit, it is worth advertising it on free websites such as gumtree.com and ebay.com to see if you can obtain a better price. If your car is worth less than £1,000 and is more than 10 years old, consider taking advantage of the Government's scrappage scheme.
Once you know the make and model of the car you would like, contact your insurance company or, better still, look at price comparison websites to find out what it will cost to cover. Young drivers and those with convictions for traffic offences should beware buying flashy or fast models they cannot afford to insure.
Anyone who is keen to keep costs to a minimum should have a number of different models in mind and compare insurance costs before buying. It is also worth noting that if you have made insurance claims in the past, you may not be insurable on some more powerful models.
Having sorted your deposit or trade-in and your insurance, you must consider how you are going to pay for the car. Honest John, motoring agony uncle for The Daily Telegraph, says the best way of doing this is with cash. "People often get themselves into such a mess with car debt, but it's unavoidable for most."
Where you need to use credit, remember that the headline interest rate may not tell the whole story. You should also consider arrangement fees and any early exit penalties. Always compare both the monthly outgoings and the total you will have to repay.
"Each route will offer different benefits and drawbacks, so be careful," says Gemma Stanbury, head of savings, loans and debt at price comparison website Confused.com. "It's vital to know how much you'll pay back in total – that way you can check which way will be the most appropriate for you."
There are three main options for motor credit: you can get it from the dealer or a bank or building society. Many drivers take the easy option and sign on for the dealer finance package offered by the car salesman. While this may be the least time-consuming option, it is often the most expensive. Personal contract purchase, loan purchase and hire purchase are the three main payment options that a car dealership will offer.
OFT Investigate Comparison Sites
The Office of Fair Trading is set to investigate allegations of dubious advertising and confusing prices at comparison websites.
The OFT is seeking comments from the industry and consumer groups before the deadline of 18 September, when it plans to embark on a detailed examination of practices that can trick people into believing that such sites offer the cheapest prices.
If found guilty, the sites could be forced to change the way they operate and switch to a less profitable, more consumer-friendly system.
Sites that compare a range of items, from toys to electronics, will come under scrutiny, but advertising campaigns for financial products will also feature prominently, the consumer watchdog said.
Financial comparison sites such as Comparethemarket.com and Confused.com, which offer quotes on car insurance to gas and electricity deals, have come under the scrutiny of the main City watchdog, the Financial Services Authority.
Last year, several unnamed firms were told to end practices that depressed the price of initial quotes. The FSA found that only after customers reached the end of the buying process did they discover that a final price was considerably higher.
The British Insurance Brokers' Association, which has campaigned on behalf of its high street members against what it called "the worst offenders", said the latest problem centred on car insurance quotes that appear cheaper as they include an excess that can be as high as £500. Customers usually opt for just a £100 or £200 excess, which pushes up the price of a policy.
Biba recently welcomed website Gocompare.com to its list of members. "We are not against comparison websites. We just want them to ask the right questions. Gocompare.com doesn't use assumptions and it guarantees to give a quote that becomes the final price," said a spokesman.
There are about 40 financial product comparison sites. Gocompare.com, Moneysupermarket.com and Confused.com are the largest players along with Comparethemarket, which has used the humble meerkat to great effect in its adverts.
One of the most competitive products on these sites is motor insurance. Nearly 12 million of the 24 million insured car drivers go online to search prices, according to Moneysupermarket.com.
Only Direct Line and Aviva have resisted putting their products on comparison sites. Direct Line, which is owned by Royal Bank of Scotland, has always refused, while Aviva pulled out last year.
A spokeswoman for the OFT said it was difficult for customers to navigate their way through the claims made by the sites about savings, which made it more important that they clearly advertise their prices and more closely replicate the high street.
The OFT is not expected to report until next year.
Wednesday, 19 August 2009
New mortgage catch rocks homebuyers: Families losing out on deals as surveyors undervalue houses
Homeowners are having tens of thousands of pounds wiped off their property price because they are failing to contest low valuations.
These low estimates are causing further misery to homeowners who have already seen a third wiped off their house prices.
As a result, mortgage brokers are urging homeowners wanting to remortgage not to accept a valuation if they think it's too low - or risk missing out on the best home loan deals.
A low valuation can be devastating for any homeowner searching for a good remortgage deal. It means the homebuyer's equity in their home is cut - with the result that many of the best remortgage offers are closed to them. As a result, families are being forced on to more expensive mortgage deals costing them hundreds of pounds extra each month.
The phenomenon has been created by banks and building societies using average mortgage valuations for your area or regional house price indices rather than proper, individual surveys.
But they fail to take in to account very localised house price bubbles - where despite the property slump homes are clinging on to their value. Many homeowners have added value to their houses by doing them up.
Now mortgage brokers are reporting a sudden increase in the number of homeowners choose to contest the value the mortgage lender has placed on their home.
David Hollingworth from London & Country says: 'While homeowners do have to accept that there has been a considerable fall in house prices, they should contest a valuation if it comes in much lower than they think their home is worth. You have to base your own estimate on facts, and not just sentiment towards your home
These low estimates are causing further misery to homeowners who have already seen a third wiped off their house prices.
As a result, mortgage brokers are urging homeowners wanting to remortgage not to accept a valuation if they think it's too low - or risk missing out on the best home loan deals.
A low valuation can be devastating for any homeowner searching for a good remortgage deal. It means the homebuyer's equity in their home is cut - with the result that many of the best remortgage offers are closed to them. As a result, families are being forced on to more expensive mortgage deals costing them hundreds of pounds extra each month.
The phenomenon has been created by banks and building societies using average mortgage valuations for your area or regional house price indices rather than proper, individual surveys.
But they fail to take in to account very localised house price bubbles - where despite the property slump homes are clinging on to their value. Many homeowners have added value to their houses by doing them up.
Now mortgage brokers are reporting a sudden increase in the number of homeowners choose to contest the value the mortgage lender has placed on their home.
David Hollingworth from London & Country says: 'While homeowners do have to accept that there has been a considerable fall in house prices, they should contest a valuation if it comes in much lower than they think their home is worth. You have to base your own estimate on facts, and not just sentiment towards your home
Friday, 17 July 2009
Home Owner Loans
A free online guide to finding home owner loan information. Here's TOP rated home owner loan tips and more!
Glossary of terms for home owner loans
Posted on Thursday July 16th, 2009 at 00:25 in finance
If your objective is to reduce interest rates and lower yourmonthly payments, avoid bankruptcy, consolidate your bills andhave one monthly payment, or simply get out of debt the fastestway possible, then a debt consolidation loan could provide theans...
Twitter Tweets about Home Mortgage as of July 16, 2009
Posted on Thursday July 16th, 2009 at 00:25 in home and family
KProfAZ: Working on an article: Why aren't lenders modifying more home mortgage Ks? Mods beat foreclosures, so what's the problem? Complex answer!-- · Replyseancurtis: Oh it's from my mortgage broker Holistic Home Loans. Not only do they gi...
Twitter Tweets about Home Mortgage Refinancing as of July 14, 2009
Posted on Tuesday July 14th, 2009 at 01:08 in finance
eak: Mortgage Refinancing - Satisfaction Guaranteed Home Mortgage Refinance Solution - http:tinyurl.commvdsg-- · ReplyGootar: Home Mortgage Refinancing in a Glancehttp:bit.lyDoO via addthis-- · Replyblue: Steps Involved in Refinancing ...
Home loans
Posted on Tuesday July 14th, 2009 at 01:08 in finance
Availability of Homeloans is in full bloom. They are uncomplicated, tenable,easily available, very flexible and tailor-made for homeowners.They are offered by almost every loan lending or financialinstitution. Home loans are like omnipresent and yete...
A diminishing mortgage market
Posted on Sunday July 12th, 2009 at 02:23 in finance
On July , customers had a choice between , residential mortgages but today their choice has been reduced to a lowly , products.People with less than a perfect credit record have been hit the most by this current economic crisis, with sub-prime mortg...
Twitter Tweets about Home Mortgage as of July 12, 2009
Posted on Sunday July 12th, 2009 at 02:23 in home and family
HouseFinance: Reverse Mortgage Costs - Understanding Reverse Home Mortgage ... http:twurl.nlenzx-- · ReplyHouseFinance: Lending Source Corporation Reverse Home Mortgage Interest and ... http:twurl.nlwkbm-- · Replyforeclosurehow: Update...
Glossary of terms for home owner loans
Posted on Thursday July 16th, 2009 at 00:25 in finance
If your objective is to reduce interest rates and lower yourmonthly payments, avoid bankruptcy, consolidate your bills andhave one monthly payment, or simply get out of debt the fastestway possible, then a debt consolidation loan could provide theans...
Twitter Tweets about Home Mortgage as of July 16, 2009
Posted on Thursday July 16th, 2009 at 00:25 in home and family
KProfAZ: Working on an article: Why aren't lenders modifying more home mortgage Ks? Mods beat foreclosures, so what's the problem? Complex answer!-- · Replyseancurtis: Oh it's from my mortgage broker Holistic Home Loans. Not only do they gi...
Twitter Tweets about Home Mortgage Refinancing as of July 14, 2009
Posted on Tuesday July 14th, 2009 at 01:08 in finance
eak: Mortgage Refinancing - Satisfaction Guaranteed Home Mortgage Refinance Solution - http:tinyurl.commvdsg-- · ReplyGootar: Home Mortgage Refinancing in a Glancehttp:bit.lyDoO via addthis-- · Replyblue: Steps Involved in Refinancing ...
Home loans
Posted on Tuesday July 14th, 2009 at 01:08 in finance
Availability of Homeloans is in full bloom. They are uncomplicated, tenable,easily available, very flexible and tailor-made for homeowners.They are offered by almost every loan lending or financialinstitution. Home loans are like omnipresent and yete...
A diminishing mortgage market
Posted on Sunday July 12th, 2009 at 02:23 in finance
On July , customers had a choice between , residential mortgages but today their choice has been reduced to a lowly , products.People with less than a perfect credit record have been hit the most by this current economic crisis, with sub-prime mortg...
Twitter Tweets about Home Mortgage as of July 12, 2009
Posted on Sunday July 12th, 2009 at 02:23 in home and family
HouseFinance: Reverse Mortgage Costs - Understanding Reverse Home Mortgage ... http:twurl.nlenzx-- · ReplyHouseFinance: Lending Source Corporation Reverse Home Mortgage Interest and ... http:twurl.nlwkbm-- · Replyforeclosurehow: Update...
Monday, 13 July 2009
Insurance for domestic partners delayed
CARSON CITY, Nev.—Nevada will start offering insurance coverage to domestic partners of state and some other government employees in July 2010—nine months after the Oct. 1 effective date of a new state law granting such benefits.
Officials with the Public Employees Benefits Board voted unanimously to delay extending the benefits, saying more time is needed to set rates and coverage plans that include domestic partners and their children.
The domestic partner bill extends rights similar to those held by married couples—including community property and debt and the right to seek financial support after a breakup—to cohabitating couples, whether gay or straight, who register with the secretary of state's office.
Officials with the Public Employees Benefits Board voted unanimously to delay extending the benefits, saying more time is needed to set rates and coverage plans that include domestic partners and their children.
The domestic partner bill extends rights similar to those held by married couples—including community property and debt and the right to seek financial support after a breakup—to cohabitating couples, whether gay or straight, who register with the secretary of state's office.
Tuesday, 30 June 2009
Brokers unmoved as mortgage lending rises 'marginally'
Although the latest figures from the Bank of England show that mortgage approvals are on the rise for the fourth month in a row, brokers are apparently remaining sceptical of any imminent recovery, saying the horizon still looks “credit-less” and reluctant banks are still cherry picking the best deals.
A total of 43,414 loans were approved last month, which makes a slight rise from the 43,191 approved the previous month.
While some industry figures have seen the figures as an indication of improving conditions in the housing market, others have remembered that lending is still a long way off levels seen in May 2007, when 116,000 approvals were recorded.
Additionally, net lending, cutting out redemptions and repayments, stood at £324 million, which makes the lowest figure on record.
Economists have said that Government and Bank of England measures, such as cutting interest rates to historically low levels and injecting £125 billion into the economy through quantitative easing, have yet to have a substantial effect.
Andrew Montlake, the director of mortgage broker, Coreco has said: "Some people were expecting better figures but let's not kid ourselves, it's still very difficult to secure mortgage finance at higher LTVs. Once again, I am concerned that the number of remortgages has fallen. Fixed rates are rising and anyone settling for short term gain on a lender's SVR could be in for some long-term pain.”
A total of 43,414 loans were approved last month, which makes a slight rise from the 43,191 approved the previous month.
While some industry figures have seen the figures as an indication of improving conditions in the housing market, others have remembered that lending is still a long way off levels seen in May 2007, when 116,000 approvals were recorded.
Additionally, net lending, cutting out redemptions and repayments, stood at £324 million, which makes the lowest figure on record.
Economists have said that Government and Bank of England measures, such as cutting interest rates to historically low levels and injecting £125 billion into the economy through quantitative easing, have yet to have a substantial effect.
Andrew Montlake, the director of mortgage broker, Coreco has said: "Some people were expecting better figures but let's not kid ourselves, it's still very difficult to secure mortgage finance at higher LTVs. Once again, I am concerned that the number of remortgages has fallen. Fixed rates are rising and anyone settling for short term gain on a lender's SVR could be in for some long-term pain.”
Ocean Money Loans
Ocean Money are a leading UK lender offering Secured Personal Loans
Ocean Money is a trading style of Ocean Money Limited - (company no. 4730154. Consumer credit license no.54072) & Ocean Money (II) Limited - (company no. 3490258. Consumer credit license no.442215) Ocean Money Limited is authorised and regulated by the Financial Services Authority for arranging insurance. Ocean Money (II) Limited is authorised and regulated by Financial Services Authority for arranging insurance and entering into mortgage contracts.
Ocean Money is a trading style of Ocean Money Limited - (company no. 4730154. Consumer credit license no.54072) & Ocean Money (II) Limited - (company no. 3490258. Consumer credit license no.442215) Ocean Money Limited is authorised and regulated by the Financial Services Authority for arranging insurance. Ocean Money (II) Limited is authorised and regulated by Financial Services Authority for arranging insurance and entering into mortgage contracts.
Friday, 26 June 2009
Remortgages
If you are looking at remortgages it may be worth while talking to a qualified mortgage adviser, who can compare different mortgage products.
A remortgage could be used to try and find a lower rate, raise extra money or consolidate existing debt please note if you are consolidating your debt and extended the term of the finance you may end up paying back more of the duration of the mortgage
A remortgage could be used to try and find a lower rate, raise extra money or consolidate existing debt please note if you are consolidating your debt and extended the term of the finance you may end up paying back more of the duration of the mortgage
Finance Scam
Please be aware of any email, cold calling scams of companies offering finance. Make sure you are dealing with a reputable company
TBG Pick Up Ocean Finance Brief
Digital marketing agency TBG London has picked up the six-figure online media and creative account for finance broker Ocean Finance.
As part of its brief, TBG will create online mortgage and loan adverts to compliment Ocean Finance's current television commercials.Simon Mansell, managing director of TBG, said: "Ocean Finance was one of our top targets for 2006 and we worked for several months to win its business. It will be a flagship account for us and will constitute a significant new portion of our revenues."TBG was set up in 2001 and other clients include national bank Abbey and The Ritz hotel.
AGF buy Ocean Finance
American General Finance (AGF) has announced it will acquire the UK's leading Finance Broker Ocean Finance and Mortgages Limited (Ocean) for an undisclosed amount.
AGF buy Ocean Finance & Mortgages
AGF buy Ocean Finance & Mortgages
Finance Brokers
A Finance Broker is a company that match customers up with loans from a panel of lenders, most finance brokers specialise in unsecured loans, secured loans, mortgages or remortgages.
Finance Brokers work with clients to determine their borrowing needs and ability, select a loan suited to their circumstances and manage the process through to settlement. A finance broker will work through any finance application and help the customer with the legal process of arranging finance.
Finance brokers can only offer loans from the lenders they are accredited with. They call this their panel of lenders. Lenders will normally range from the large banks through to specialist non-bank lenders and mortgage managers. The size of a panel of lenders will vary from broker to broker. You can ask to view your broker’s panel.
Finance Brokers
Finance Brokers work with clients to determine their borrowing needs and ability, select a loan suited to their circumstances and manage the process through to settlement. A finance broker will work through any finance application and help the customer with the legal process of arranging finance.
Finance brokers can only offer loans from the lenders they are accredited with. They call this their panel of lenders. Lenders will normally range from the large banks through to specialist non-bank lenders and mortgage managers. The size of a panel of lenders will vary from broker to broker. You can ask to view your broker’s panel.
Finance Brokers
Tuesday, 16 June 2009
Debt Help
Do you have serious debts? Are you financially stretched? Feeling trapped by debts? Suffering from stress due to your financial situation? If you answered yes to any of the above maybe WiseBuy’s debt service can help. Did you know that more than a third of us lie awake at night worrying about money? And that just over a quarter of couples argue when discussing finances?
What sort of Loan are you interested in?
Honeowner Loans
from £3,000 to £100,000 3 to 25 Years
Personal Loans
from £1,000 to £15,0001 to 5 Years
Debt overwhelms
A change in personal circumstances, such as a relationship split, reduction in income, job loss or illness, through no fault of your own, can have serious financial implications. If you’re struggling to pay the bills, you need to take advice now on how to cut your monthly expenditure. Missing bills and hoping for the best is not a good strategy.Break the cycle of debt and sort out your finances today.
Taking control of your debts
Things will only get worse until you stop putting it off. Take action today and stop the stress
Prioritise your spending and debts – draw up a list of all your incomings and outgoings and find out what you are spending your money on.
Your main priority is a roof over your head – so your rent or mortgage payment needs to be your main priority
Claim any benefits that you’re entitled as they could increase you incomings!
Boost your wealth by considering a consolidation loan. Cut your monthly repayments by consolidating your existing debts into one loan.
Maybe you need some good advice? By completing our online form in minutes we can help you cut your debts and stop all your financial worry. We pass your details to our trusted business partner who will provide free and confidential advice to suit your individual needs. Whether that means a debt consolidation loan, debt management plan or and IVA/Trust Deed. We strive to help you avoid the stigma of bankruptcy and help you sort out your debts so that they no longer rule your life. The worry and stress of debt can affect your health and relationships and once you’ve organised your debt you’ll be able to spend time with the people you care about and enjoy your life. Complete our online form now – there’s no obligation and you’ll receive free advice. In only a few minutes you can be well on your way to sorting your finances
What sort of Loan are you interested in?
Honeowner Loans
from £3,000 to £100,000 3 to 25 Years
Personal Loans
from £1,000 to £15,0001 to 5 Years
Debt overwhelms
A change in personal circumstances, such as a relationship split, reduction in income, job loss or illness, through no fault of your own, can have serious financial implications. If you’re struggling to pay the bills, you need to take advice now on how to cut your monthly expenditure. Missing bills and hoping for the best is not a good strategy.Break the cycle of debt and sort out your finances today.
Taking control of your debts
Things will only get worse until you stop putting it off. Take action today and stop the stress
Prioritise your spending and debts – draw up a list of all your incomings and outgoings and find out what you are spending your money on.
Your main priority is a roof over your head – so your rent or mortgage payment needs to be your main priority
Claim any benefits that you’re entitled as they could increase you incomings!
Boost your wealth by considering a consolidation loan. Cut your monthly repayments by consolidating your existing debts into one loan.
Maybe you need some good advice? By completing our online form in minutes we can help you cut your debts and stop all your financial worry. We pass your details to our trusted business partner who will provide free and confidential advice to suit your individual needs. Whether that means a debt consolidation loan, debt management plan or and IVA/Trust Deed. We strive to help you avoid the stigma of bankruptcy and help you sort out your debts so that they no longer rule your life. The worry and stress of debt can affect your health and relationships and once you’ve organised your debt you’ll be able to spend time with the people you care about and enjoy your life. Complete our online form now – there’s no obligation and you’ll receive free advice. In only a few minutes you can be well on your way to sorting your finances
Thursday, 11 June 2009
Mortgages - Bad Credit Mortgages and Remortgages
Taking out a mortgage is an important long term commitment, and those looking at mortgages often have many questions to ask about this type of finance. Below you will find a selection of frequently asked questions with relation to mortgages:
How will I know what sort of mortgage to go for?
In order to determine what sort of mortgage to opt for you need to learn more about the different products on the market and match those to your needs and circumstances. For example, if you do not want the hassle of fluctuation repayments then a fixed rate mortgage may be the best choice for you. If you are still unsure after learning more about the different mortgage products available then it is well worth speaking to an independent financial adviser, who may be able to point you in the right direction and offer valuable support.
What is the best way to find a good deal on a mortgage?
Compare, compare, compare! Interest rates, terms, and repayment periods can vary widely from one lender to another, and in order to get the best mortgage for your needs you need to keep your eye on the mortgage market, compare different mortgages from a range of lenders, and avoid rushing into it. Also, when you are comparing mortgages make sure you look at the small print and find out if there are any hidden charges. Comparing mortgages these days is far easier because of the Internet.
How much will I be able to borrow?
The amount that you will be able to borrow will depend on a number of factors, and this includes your income, your existing debts and regular financial commitments, your financial and employment status, and also on the lender’s own criteria. Some lenders offer higher income multiples than others, and this means that you can borrow more although it also means that your repayments will be higher.
What sort of deposit will I need?
The traditional level of deposit needed is 5% of the property value, although first time buyers have often been able to get 100% mortgages with no deposit required. However, some lenders now ask for a minimum 10% deposit as a result of tighter lending conditions stemming from the credit crunch.
Can I get a mortgage if I have bad credit?
If you have bad credit you will find it far more difficult to find an affordable mortgage, and you will find that many of the deals on mortgages are not open to you because of your credit. However, there are lenders that do offer sub-prime mortgages. Do bear in mind that the interest rates charges on these mortgages will be significantly higher than the standard, and therefore repayments will be higher. You need to ensure that you can keep up with the repayments otherwise you could end up losing your home and further damaging your credit.
How will I know what sort of mortgage to go for?
In order to determine what sort of mortgage to opt for you need to learn more about the different products on the market and match those to your needs and circumstances. For example, if you do not want the hassle of fluctuation repayments then a fixed rate mortgage may be the best choice for you. If you are still unsure after learning more about the different mortgage products available then it is well worth speaking to an independent financial adviser, who may be able to point you in the right direction and offer valuable support.
What is the best way to find a good deal on a mortgage?
Compare, compare, compare! Interest rates, terms, and repayment periods can vary widely from one lender to another, and in order to get the best mortgage for your needs you need to keep your eye on the mortgage market, compare different mortgages from a range of lenders, and avoid rushing into it. Also, when you are comparing mortgages make sure you look at the small print and find out if there are any hidden charges. Comparing mortgages these days is far easier because of the Internet.
How much will I be able to borrow?
The amount that you will be able to borrow will depend on a number of factors, and this includes your income, your existing debts and regular financial commitments, your financial and employment status, and also on the lender’s own criteria. Some lenders offer higher income multiples than others, and this means that you can borrow more although it also means that your repayments will be higher.
What sort of deposit will I need?
The traditional level of deposit needed is 5% of the property value, although first time buyers have often been able to get 100% mortgages with no deposit required. However, some lenders now ask for a minimum 10% deposit as a result of tighter lending conditions stemming from the credit crunch.
Can I get a mortgage if I have bad credit?
If you have bad credit you will find it far more difficult to find an affordable mortgage, and you will find that many of the deals on mortgages are not open to you because of your credit. However, there are lenders that do offer sub-prime mortgages. Do bear in mind that the interest rates charges on these mortgages will be significantly higher than the standard, and therefore repayments will be higher. You need to ensure that you can keep up with the repayments otherwise you could end up losing your home and further damaging your credit.
Mortgage lending increase for the spring
The number of loans handed out for house purchases in the UK rose by 16% in April compared with the previous month, according to lenders.
But the figure remains 28% down on the same month the previous year, the Council of Mortgage Lenders (CML) said.
The data adds further evidence to indications of a spring bounce in the housing market.
However, first-time buyers still have to put down an average deposit of 25% of the value of their new home.
In April, the average amount borrowed by first-time buyers for a home loan rose slightly to £96,000 - the first rise since May 2008.
Reflection
The data is the final set of figures relating to the state of the mortgage market in April, and effectively echoes lending data from earlier surveys.
The figures confirmed a rebound in the popularity of fixed-rate mortgages, with homeowners predicting that interest rates are unlikely to fall further.
In January, 48% of new home loans were fixed-rate deals but this proportion rose to 69% in April. The average rate charged on those deals in April - of 4.83% - was the lowest paid since January 2004.
"With the interest rate cycle now at its floor, an increasing proportion of borrowers are taking out fixed rates, including for longer term periods of five to 10 years," said CML head of research Bob Pannell.
"With expectations for rates to remain low in the near future, shorter term fixed-rate deals are less appealing than attractively priced variable-rate deals."
However, Nationwide Building Society is reported to be increasing the cost of its fixed-rate deals on Friday, by up to 0.86 percentage points.
A 0.86 percentage point rate increase on a £150,000 interest-only mortgage will increase the total cost over five years by £6,450.
'Less to lend'
Part of the reason for some analysts suggesting that other lenders were likely to follow suit was the sharp increase in swap rates - the amount banks charge each other for borrowing and lending money over a fixed period of time.
The number of people remortgaging has dropped again
"Lenders are now hiking their fixed rates, partly because swap rates have increased dramatically over the past few days, partly because lenders have too many applicants and too little to lend, and partly because they can," said Andrew Montlake, director of mortgage broker Coreco.
"What concerns me is that many people coming to the end of their existing mortgage products are still reverting to, or being forced to revert to the standard variable rate (SVR), which could come back to bite them should rates rise sharply."
Rising interest rates would have a positive impact for savers, however, who would see returns they receive from their savings accounts go up.
Few houses for sale
The number of loans for house purchases stood at 35,500 in April, the CML said.
"There are tentative signs of house purchase lending stabilising, but we need to see considerably higher transaction levels to underpin house prices," said Mr Pannell.
Recent house price surveys have suggested some pent-up demand, but pointed out that a squeeze in the number of homes on the market has pushed up the prices of those that were available.
The number of people remortgaging dropped to 31,000 - down 22% compared with the previous months and a fall of 65% compared with a year earlier.
This was the result of strict lending criteria for the best deals, the lenders' group said.
But the figure remains 28% down on the same month the previous year, the Council of Mortgage Lenders (CML) said.
The data adds further evidence to indications of a spring bounce in the housing market.
However, first-time buyers still have to put down an average deposit of 25% of the value of their new home.
In April, the average amount borrowed by first-time buyers for a home loan rose slightly to £96,000 - the first rise since May 2008.
Reflection
The data is the final set of figures relating to the state of the mortgage market in April, and effectively echoes lending data from earlier surveys.
The figures confirmed a rebound in the popularity of fixed-rate mortgages, with homeowners predicting that interest rates are unlikely to fall further.
In January, 48% of new home loans were fixed-rate deals but this proportion rose to 69% in April. The average rate charged on those deals in April - of 4.83% - was the lowest paid since January 2004.
"With the interest rate cycle now at its floor, an increasing proportion of borrowers are taking out fixed rates, including for longer term periods of five to 10 years," said CML head of research Bob Pannell.
"With expectations for rates to remain low in the near future, shorter term fixed-rate deals are less appealing than attractively priced variable-rate deals."
However, Nationwide Building Society is reported to be increasing the cost of its fixed-rate deals on Friday, by up to 0.86 percentage points.
A 0.86 percentage point rate increase on a £150,000 interest-only mortgage will increase the total cost over five years by £6,450.
'Less to lend'
Part of the reason for some analysts suggesting that other lenders were likely to follow suit was the sharp increase in swap rates - the amount banks charge each other for borrowing and lending money over a fixed period of time.
The number of people remortgaging has dropped again
"Lenders are now hiking their fixed rates, partly because swap rates have increased dramatically over the past few days, partly because lenders have too many applicants and too little to lend, and partly because they can," said Andrew Montlake, director of mortgage broker Coreco.
"What concerns me is that many people coming to the end of their existing mortgage products are still reverting to, or being forced to revert to the standard variable rate (SVR), which could come back to bite them should rates rise sharply."
Rising interest rates would have a positive impact for savers, however, who would see returns they receive from their savings accounts go up.
Few houses for sale
The number of loans for house purchases stood at 35,500 in April, the CML said.
"There are tentative signs of house purchase lending stabilising, but we need to see considerably higher transaction levels to underpin house prices," said Mr Pannell.
Recent house price surveys have suggested some pent-up demand, but pointed out that a squeeze in the number of homes on the market has pushed up the prices of those that were available.
The number of people remortgaging dropped to 31,000 - down 22% compared with the previous months and a fall of 65% compared with a year earlier.
This was the result of strict lending criteria for the best deals, the lenders' group said.
Wednesday, 3 June 2009
Credit History
Learn the Credit Facts
Credit History
Credit History
Your Own Financial Report Card
A credit history is a detailed record of your credit activity. It reflects your ability to handle credit and submit timely payments. Learn more about your credit history and how to keep it clean.
Consumers have the right to request a free credit report from each of the three major credit agencies every year. In compliance with the Fair Credit Reporting Act (FCRA), Equifax, Experian and TransUnion have set up a central website and a toll-free telephone number through which you can order your free annual report. To order, visit annualcreditreport.com or call (877) 322-8228.
Credit History
Credit History
Your Own Financial Report Card
A credit history is a detailed record of your credit activity. It reflects your ability to handle credit and submit timely payments. Learn more about your credit history and how to keep it clean.
Consumers have the right to request a free credit report from each of the three major credit agencies every year. In compliance with the Fair Credit Reporting Act (FCRA), Equifax, Experian and TransUnion have set up a central website and a toll-free telephone number through which you can order your free annual report. To order, visit annualcreditreport.com or call (877) 322-8228.
Wednesday, 27 May 2009
What is a Remortgage?
A remortgage (also known as refinancing) is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. The term is mainly used commercially in the United Kingdom, though what it describes is not uniquely British.
Remortgages can be used to swap your mortgage deal but when you remortgage you could raise additional finance depending on the equity in your home
Remortgages can be used to swap your mortgage deal but when you remortgage you could raise additional finance depending on the equity in your home
Remortgages
What are Remortgages?
Remortgages are the replacement of an existing mortgage agreement either at the end of or during a lending term. Remortgages can be renegotiated with your original lender or replaced by a remortgage with a new lender.
Why Remortgage?
If your mortgage term is coming to an end and you have an outstanding balance you will need to arrange a remortgage. Alternatively, you can look to Save Money by renegotiating your mortgage package midterm. This can result in– lower monthly payments or additional equity (in the form of a secured loan) to use for home improvements, other loan or credit repayments, a car or even a holiday.
Things to know
Remortgaging can save you money!
If you have had a mortgage for several years you will have built up equity in your home which can result in:
a) A reduction in the total amount you need to borrow from a lender which can result in better interest rates and lower monthly remortgage payments
b) An increase the amount of equity for you to tap as a secured loan
It’s a good idea to compare your current mortgage rates with those in the market periodically. A great remortgage opportunity may not stick around long. Be aware that there will be fees involved! Arrangement fees, valuations and the like will need to be considered when you are comparing remortgages .Remortgages can take about one month to complete.
Where to find Remortgages
Lenders often advertise online and there are some sites who offer comparisons so you can check rates yourself. Of course you can take care of the whole process yourself but it can be time consuming and frustrating. Online offers sometimes are not updated regularly and comparing several offers can require a lot of number crunching. Using brokers for remortgages will make the process quicker and easier. Certified brokers will constantly be on the lookout for good opportunities and can make the process much smoother and easier for you.
How is the current mortgage market?
The mortgage market landscape has changed drastically since 2007. The number of lenders offering mortgage or remortgage products is significantly smaller than it was in its heyday. People in the UK searching for mortgage deals have had a tough time post crush with a reduced number of lenders, changing interest rates and the fact that those lenders still in the market have tightened their purse strings. Lenders cautious and less willing to take risks when lending have hurt the chances of first time buyers. Bank rate changes have also affected numbers for remortgages too.Remortgages make up half of all the mortgages taken out in the UK. Despite the changes over the last 2 years there are still savings available for those seeking remortgages
Financial Brokers in Blackburn
Nationwide Asset Finance Ltd
Kingfisher Centre, Burnley Road, ROSSENDALE, BB4 8EQ
Financial Brokers in Blackburn
A S C Lancashire & Cumbria
57 Bank Parade, BURNLEY, BB11 1UG
Financial Brokers in Blackburn
A S C Finance for Business
57 Bank Parade, Burnley, BB11 1UG
Financial Brokers in Blackburn
AMW Finance
Glenfield Park One, Unit 115/116, Philips Rd, Blackburn -
Cheap Remortgage Blackburn -
20 Knowsley Rd, Wilpshire, Blackburn
ASC Finance for Business -
57 Bank PArade, Burnley -
Ocean Finance launches dedicated TV channel - Brand Republic News ...
16 Sep 2008 ... Ocean Finance launches dedicated TV channel - Brand Republic News. Read Ocean Finance launches dedicated TV channel and other marketing news ...www.brandrepublic.com/News/846412/Ocean-Finance-launches-dedicated-TV-channel/ -
Monday, 18 May 2009
What is a Finance Broker
A broker who arranges finance. A broker is a party that mediates between a buyer and a seller. A broker who also acts as a seller or as a buyer becomes a party to the deal
Fisa To Stop Trading
The current economic slowdown and subsequent recession has claimed several victims over the past year, particularly in the finance sector and amongst companies who offer secured loans, with the lenders such as Picture Loans & First Plus stoping lending and many others restricting there lending criteria.
The latest organisation to feel the effects of the credit crunch is the Finance Industry Standards Association (FISA), the self regulating body which was set up to promote higher standards amongst secured loan brokers and intermediaries within the finance industry, as well as offering an advice service to consumers.
In an announcement this week, FISA said that it was being forced to close down its business activities as from the middle of April this year, as a “direct consequence” of the difficult market conditions within the secured loan sector. As the number of secured loan brokers and intermediaries has fallen over recent months due to firms closing down, so has the number of FISA members and the FISA board have said that there are no realistically viable options for the organisation to be able to continue trading.
Finance Brokers
A finance broker is a company who help consumers arrange finance usually via a loan or remortgage, Finance Brokers usually have a panel of lenders and will examine their panel to find a loan for their client.
The chief executive of FISA, John Parker commented on the decision. He said “It is a direct consequence of the extremely tough lending conditions which has meant that there are not as many lenders lending and the number of brokers in existence is reducing severely. As all FISA does is work in the secured loan sector, obviously the severe reduction in the number of firms has had a direct impact on our revenue. The board has looked at a number of options to see whether we could carry on operating and still provide a meaningful service to members, but really none of the options were viable.
Mr Parker also said that it was important that the work FISA did to promote better standards in the secured loan sector continued and this work will now be taken over by the Association of Finance Brokers (AFB), who have offered any secured loan brokers who are already existing FISA members, six months free membership of the AFB.
The latest organisation to feel the effects of the credit crunch is the Finance Industry Standards Association (FISA), the self regulating body which was set up to promote higher standards amongst secured loan brokers and intermediaries within the finance industry, as well as offering an advice service to consumers.
In an announcement this week, FISA said that it was being forced to close down its business activities as from the middle of April this year, as a “direct consequence” of the difficult market conditions within the secured loan sector. As the number of secured loan brokers and intermediaries has fallen over recent months due to firms closing down, so has the number of FISA members and the FISA board have said that there are no realistically viable options for the organisation to be able to continue trading.
Finance Brokers
A finance broker is a company who help consumers arrange finance usually via a loan or remortgage, Finance Brokers usually have a panel of lenders and will examine their panel to find a loan for their client.
The chief executive of FISA, John Parker commented on the decision. He said “It is a direct consequence of the extremely tough lending conditions which has meant that there are not as many lenders lending and the number of brokers in existence is reducing severely. As all FISA does is work in the secured loan sector, obviously the severe reduction in the number of firms has had a direct impact on our revenue. The board has looked at a number of options to see whether we could carry on operating and still provide a meaningful service to members, but really none of the options were viable.
Mr Parker also said that it was important that the work FISA did to promote better standards in the secured loan sector continued and this work will now be taken over by the Association of Finance Brokers (AFB), who have offered any secured loan brokers who are already existing FISA members, six months free membership of the AFB.
Tuesday, 12 May 2009
MPs' Expenses: John Gummer claimed £36,000 for gardening and mole-hunting at his estate
Former Environment Minister John Gummer claimed more than £9,000 a year in gardening expenses over a four-year period – including £100 to rid his lawn of moles in one year alone.
The senior Tory claimed hundreds of pounds to tackle wildlife on his Suffolk country home, with bills to remove jackdaw nests, combat insect infestations and an annual ‘rodent service’ contract.
His claims make a mockery of Commons rules which state that an MP should only recoup costs essential to their parliamentary duties.
Mr Gummer claimed close to the maximum Additional Costs Allowance every year – but leaked correspondence from the Commons Fees Office published last night show he was less than meticulous in submitting receipts to support his expenses claims.
In one letter, he admitted that he drew up some paperwork himself, saying he had to ‘create receipts from the people who work for us in Suffolk as we have not previously had any such system’.
The senior Tory claimed hundreds of pounds to tackle wildlife on his Suffolk country home, with bills to remove jackdaw nests, combat insect infestations and an annual ‘rodent service’ contract.
His claims make a mockery of Commons rules which state that an MP should only recoup costs essential to their parliamentary duties.
Mr Gummer claimed close to the maximum Additional Costs Allowance every year – but leaked correspondence from the Commons Fees Office published last night show he was less than meticulous in submitting receipts to support his expenses claims.
In one letter, he admitted that he drew up some paperwork himself, saying he had to ‘create receipts from the people who work for us in Suffolk as we have not previously had any such system’.
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