Not understanding loan payment protection is the number one fault associated with mis-selling. Providing cover is suitable then taking out a policy to cover your loan repayments can save you from getting into debt and give you peace of mind and the security of an income each month. This income is used to cover your loan or credit card repayments and is tax free.Loan insurance premiums can vary a lot and the cheapest way to take out a policy is to...more
Author: Arush KeerthiBeing a tenant is considered to be disadvantageous.This is mainly due to the fact that tenants often find it difficult to avail loans.Lenders usually hesitate to approve finance to such borrowers.However,this is no more the case.Now, even tenants can avail loans.There are lenders who provide finance to such borrowers. It is likely that you are a tenant with a bad credit score.You can still avail loans.You need not feel...more
Providing you take the time to read the terms and conditions that come with a policy then loan cover can be a valuable asset. It is only when the consumer is ignorant of the exclusions and buys cover that has not been explained fully that problems occur. This was seen in 2005 when the Office of Fair Trading received a super complaint from the Citizens' Advice Bureau. Following this, the Financial Services Authority began investigating and subsequently handed out fines to several firms.Guidelines were laid down when it came to improving sales techniques and while some firms took heed and have made changes to the way they sell cover, many more are still failing to meet expectations and mis-selling continues. The majority of mis-selling occurs when policies are sold alongside loans at the time of borrowing. High street lenders are thought to bring in around £4 billion in profits from adding cover to loans. Often when the protection is bought this way interest is added onto the loan after loan protection has been included, which means you are paying interest on the actual protection and loan combined and not just the borrowing itself. For the cheapest quotes for payment protection...more
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...more
Those who have loan or credit card debts or a mortgage with repayments to make each month should give some thought as to how they would continue to make these payments if they were to lose their income. While you may turn to savings if an illness or accident prevented you from working for a short period of time, any savings you had would soon...more
If you were to suddenly find yourself without an income, due to losing your job or being unable to work for health reasons, your lifestyle could change drastically. If you have monthly mortgage repayments to make you would still have to continue meet the costs or risk losing your home to repossession. Loan or credit card repayments would also have to be made too, and you could struggle when it comes to finding the money needed. Income protection could give you the financial security needed each month for a small monthly premium.A protection policy would replace your lost income up to a certain amount each month. The exact sum you would receive is decided when you take out the cover. A specialist provider will offer the cheapest premiums, which will be based on how much of your income you wish to protect and how old you are when applying for the cover. Along with a quote for the protection, with an independent provider you will also be able to take advantage of the many tips and advice offered by way of articles and FAQs relating to payment protection products. Understanding what you are buying is key to making sure your cover delivers exactly what you need for your...more
To get the cheapest premiums and a quality policy you understand you need to shop around for loan protection cover. When taking out a loan the majority of lenders will offer loan protection cover alongside the money you are borrowing. However, very...more
Bad credit often poses a lot of problems for the borrowers who are in need of money. They too may have needs that require fulfillment. They may just want to take up money with the aim of improving their credit history. The borrowers for these...more
If you are not in a position to offer an asset to avail loans, it is not at all a matter of great concern. Nowadays, there are lots of options available in the financial market. One such loan option is secured loans. These loans can be acquired...more
When the times are disturbing and what you need to mend all that is a bit of financial help, it should be availed with utmost care. But what if you have a bad credit history to shoot up the issues you are facing. The solution for such cash issues...more
Feasibility is a way to secure a provision. Secured form of lending has no doubt has precedence over other forms of loans. But you see there is a majority of people who are not able to provide collateral as for the security of the loan. And for the...more
Are you in need of only smaller finance? Instead of jumping to any loan offer that comes your way, better take into account all the aspects of the loan and keep your requirements and circumstances in mind. While you apply for unsecured loans, do not...more