There are many ways to borrow these days and if you don’t have the perfect credit score then that doesn’t necessarily need to be an obstacle. Guarantor loans are one example of a bad credit loan i.e. borrowing even if your credit score is poor. If you apply for a guarantor loan then you are effectively giving the lender the reassurance of having someone else who will “guarantee” that the loan is repaid according to the terms of the credit agreement. But what is a guarantor and who can be one? What is a guarantor? A guarantor is a third party who agrees to meet the obligations you’re agreeing to if you’re not able to do so. The system of using a guarantor when it comes to financial obligations is an old one and actually pre-dates the credit scoring lenders use today to make decisions. It means that if you look like you might be a credit risk – for example, you have a low credit score – there is another option. Instead of being rejected completely for credit, you could b
The New Low Cost Ways to Sell Your House – Save £000s!
How to budget at University – ways to manage spending, and how to get an income while you’re there
Estate agents don’t exactly have the best of reputations. But beyond the flashy cars, the pushy attitudes and the jargon there’s probably one thing that many people find more upsetting about working with an agent than anything else: the cost. Fees and commissions can leave a serious dent in your budget. Most agents charge a percentage of the total sale price, which can be between 0.75% and 3.0%+VAT. On a £300,000 property that could be as much as £9,000 + VAT. However, times are changing and the traditional estate agent now has a lot more competition. So, if you want to sell your house but reduce the fees that you pay what are your options? Use a traditional estate agent as your point of comparison It’s sometimes worth looking into the process and costs of working with a traditional agent, if only as a starting point for comparison. Many are now reviewing fee structures to become more competitive and trying to offer additional benefits to make them a more attractive option. We
There are many different ways in which banks make money from customers. While we’re all familiar with paying interest on loans and overdrafts or a fee for a current account, it’s the hidden charges that most of us consider a rip off. So, for example, the fee you might pay for going over an overdraft limit or unauthorised overdraft interest. These are just some of the less up front methods banks use to extract cash from customers. The end of hidden fees and charges? In the current culture of increased transparency many banks are now finding themselves in a position where hidden fees and charges need to be reviewed. Various consumer groups, as well as the Competition and Markets Authority have criticised the use of these charges. The Financial Conduct Authority is currently carrying out a review of high cost credit and part of this review is likely to be new measures on unauthorised overdraft fees. The main basis for criticism of these fees is that they don’t reflect the true cost
We often joke about being addicted to shopping or store cards. Comparisons to Paris Hilton or other famous shoppers, such as Cher from Clueless, are made in jest. However, the reality is that a shopping addiction can be a serious problem. In the US it even has a name – ‘compulsive buying disorder’ – and 18 million Americans are estimated to be affected. In the UK, the issue is just as bad – back in 2000, experts estimated one in five women to be a shopaholic and around 10% of the population as a whole to be shopping compulsively. Given the boom in online shopping, as well as the wide range of credit options that have developed since then, the likelihood is that in 2017 this problem is far worse. The consequences of a shopping addiction If you’re regularly and compulsively spending on shopping then you might find you experience a number of not too pleasant consequences: Often running out of money each month because you’ve spent it on shopping Never feeling satisfied with
We might all enjoy spending money on the things (or people) we love, but constantly spending and never saving is an unhealthy habit. Worrying about rising debt can cause us to have sleepless night and lack of sleep cause us to become physically unwell. So getting in to the habit of saving is good for us in many ways. The young, middle-aged and old; employed, self-employed or unemployed we can all benefit from having a bit put by for a rainy day. Even if it s just a small amount imagine the pressure that would take off if your car broke down or your boiler packed up? Imagine being able to pay for those repairs without worrying about hitting your credit card limit or taking out a loan. Sure you have to make sacrifices to build up some savings but if you ve never given it a try you might be surprised at how quickly a small, regular amount can build up. And that small savings pot could give you some financial freedom – maybe you won t need it for an emergency and could spend it on a muc