UK Secured Loans Blog: January 2007

Wednesday, January 31, 2007

Credit card spending on the up in 2007

In the first three months of 2007 card spending is predicted to rise by 68% say Morgan Stanley Card Index. This is compared to the same period last year and repayment figures are now at their highest since 1998. In the first quarter of 2007, Brits are planning to spend an average of £1,228 on credit cards compared to the £730 spent in the same period last year.

Spending is fuelled by cardholders' comfort of using their cards for day to day purchases - more than half is used for essentials like groceries and petrol. Breaking the figures down, the main area of credit card spending in the new year is said to be on the home and car with £377 being the total set to spend. Groceries follow this at £341. Holidays and travel will also be a major area of spending in the first quarter as cardholders book their 2007 get aways.

Men are said to be bigger spenders on plastic and are set to fork out £1,393 compared to women's £1,065 in the first quarter of 2007. Patrick Muir, marketing director, the Morgan Stanley Credit Card, commented, 'The results of our research show an increased confidence in the use of credit cards as a financial aid. It is encouraging to see that people are using their cards sensibly, with credit card spending and repayment figures increasing in tandem. Cardholders are becoming increasingly clever when it comes to being rewarded for the purchases they make, and with a wide variety of reward schemes available, ranging from collecting points to cash back, spending on credit cards is fast becoming the most appealing way to pay when compared to other methods.'

For those individuals who have several credit cards with high balances, they could consider consolidating these with a debt consolidation loan. Repayable over a term of 5 to 25 years, it is important to remember that repaying borrowing over a longer term will increase overall interest charges. However, a debt consolidation loan will wrap several monthly repayments into one, lessening the confusion about what needs to be paid and when. This is because with a debt consolidation loan, borrowers will know the exact amount and date payment needs to be taken each month. When considering a debt consolidation loan as an option to pay off outstanding credit card debts, cardholders should be mindful of the temptation to continue spending on cards once balances are cleared. Move multiple debts into one place with a straightforward debt consolidation loan.

Nemo´s typical rate is 9.0% APR variable. A NEMO LOAN IS SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Tuesday, January 30, 2007

Britons confident about managing finances

Recent research from Abbey shows Britons believe they are managing their finances well, with 86 per cent stating they manage their finances well or very well. Bank accounts are monitored at least once a week by 73 per cent and 63 per cent know all the transactions that are taking place on their accounts. When it comes to running out of money, 31 per cent claim that this is never a problem for them, while 54 per cent have to adjust spending to make sure this isn't an issue.

Just 26 per cent are overdrawn, 60 per cent of whom are working hard to pay off debts. 15 per cent of Britons believed they were borrowing more on their overdrafts than two years before the research. Internet banking is used by 72 per cent of those surveyed by Abbey with 65 per cent arranging for direct debits and standing orders to come out of their accounts close after pay day.

People living in the Midlands and Wales are most confident about managing their finances while fewer living in Scotland are not so sure. That said, more of those living in Scotland arrange direct debits from their accounts after payday (70 per cent) and are the least likely to run out of money. Steve Shore, Abbey's Head of Banking, said: 'It is clear that modern British society is more confident about managing its finances. New technology, such as the internet, is empowering customers. While it is encouraging to see more and more people taking charge of their finances, many of us could do more. 18 per cent of people have never switched their current account and 57 per cent have had their present account for 10 or more years. This is despite the fact that some current accounts now offer more competitive interest rates to customers with the best rates offering up to 60 times better than the worst.'

One option to consider in managing personal finances better is a debt consolidation loan. A debt consolidation loan can be used to pay off multiple credit card balances, personal loans and overdrafts, wrapping several monthly repayments into one. Debt consolidation loans can be repaid over a term to suit you from 5 to 25 years. It is however important to remember that with a debt consolidation loan, repaying borrowing over a longer term will increase overall interest charges. With a debt consolidation loan, borrowers will know the exact amount and date payment will be taken from their account each month, reducing the need to juggle multiple repayments each month.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Monday, January 29, 2007

£5.5 billion spending spree set for January

Recent news from Direct Line Home Insurance revealed that Brits are set to spend £5.5 billion in the January sales. This is £1.8 billion more than the amount spent in January 2006. The majority of spending is set to be on electrical goods, with almost 30 per cent hoping to buy digital televisions, laptop computers and MP3 players.

Also popular are household goods, with upholstery and decorating goods at the top of sales shoppers' lists. Clothes and footwear are also popular and four in ten people hope to make savings on apparel. New year spending follows a quiet Christmas, and nearly half of Brits said they resisted spending in December in preference for the January sales. 2.7 million asked for vouchers instead of presents from friends and family.

When it comes to bargain hunting, Londoners are this year's keenest, spending an average of £171, this is followed by those living in the Midlands who are said to spend £126. Those spending the least are in Wales, at just £73.

Those who turned to plastic over the festive season and January sales could consider paying off credit card debts with a debt consolidation loan. Repayable over a term of 5 to 25 years, a debt consolidation loan will spread the cost of repaying borrowing. With several credit cards, there are various monthly repayments to make, and it can become confusing juggling several things at once. With a debt consolidation loan, multiple monthly repayments are wrapped into one straightforward transaction. One of many options to pay off debt, a debt consolidation loan can also be used to pay off overdrafts and personal loans. It is however important to remember that repaying.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Friday, January 26, 2007

Less than ¼of transferred credit card debt paid during 0% interest periods

With less than a quarter of transferred credit card debt being paid by borrowers during the interest free period, M&S Money are urging them to look beyond short-term interest free deals.

More than half of credit card holders have now transferred balances with an average of £2,763 being transferred. 75% of this debt is still owed on cards at the end of any introductory interest free period and only one in three borrowers using transfer deals manage to repay debts during the initial interest free period.

The latest research from Marks & Spencer Money shows that over half of Britain's credit card borrowers have switched balances to a card with a cheaper rate at least once. The research indicates that balance transfers are being used as a way of delaying repayment rather than as a chance to pay debt off more quickly - as just one in three borrowers transferring balances clearing debts by the time their new card goes to the standard rate.

The research showed that the amount men and women repay differs with men making larger balance transfers being worse at repaying them. The research showed that the average amount of debt transferred by men was £3,152 compared to women's £2,405. The average percentage repaid during the interest free period is 17.5% by men and 27.7% by women.

Eddie Nott, deputy chief executive of Marks & Spencer Money commented, 'Britain's borrowers have caught the balance transfer bug, however the majority are not making the most of their low interest deals and clearing their debt. We urge borrowers to opt for lifetime balance transfer offers unless they are confident they will repay their borrowings while it's cheaper to do so.'

A debt consolidation loan is one alternative to paying off credit card debts. Usually secured on your property, a debt consolidation loan will wrap several monthly repayments into one. Multiple payments would no longer need to be juggled with a debt consolidation loan you'll know the exact date payment will be taken each month. Unlike balance transfers, a debt consolidation loan will clear existing balances immediately. Debt consolidation loans can usually be repaid over a term of 5 to 25 years. It is however important to remember with a debt consolidation loan, repaying borrowing over a longer term may increase overall interest charges.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Thursday, January 25, 2007

Clearing post Christmas debt

Recent news from MyCallcredit stated that January is payback time for the UK's 31 million plus credit card users who spent an estimated £11.4 billion on credit cards over the festive season. This is an average of £360 per cardholder.

MyCallCredit suggest that consumers should try to pay off more than the minimum amount on card balances, aiming for at least 10 percent. Priority should be given to pay off cards with the highest interest rates first. Consumers should also be wary of running up further debt on credit and store cards and could consider using savings to pay off credit card balances as the interest received on these is unlikely to be more than the interest paid on credit cards.

Commenting on Christmas spending MyCallCredit spokesperson Melanie Mitchley said 'There is an enormous temptation to overspend at Christmas and worry about it later. With the unexpected interest rate rise pushing up the cost of debt it is more important than ever that people monitor their debt situation and budget to pay back any overspending as quickly as possible. Our guide provides a good starting point for those who are just waking up to a Christmas debt hangover.'

Consumers who used credit cards for spending sprees over the festive season and now have high balances to pay on several credit cards, could consider consolidating these with a debt consolidation loan.Debt consolidation loans will spread repayment over a term of 5 to 25 years. It is however important to remember that repaying borrowing over a longer term will increase overall interest charges. One of many options, a debt consolidation loan will reduce the need to juggle several monthly repayments. With a debt consolidation loan, you'll know the exact date and amount that will be debited from your account each month.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Wednesday, January 24, 2007

£1.4 billion spent on perfecting kids parties

Recent research from American Express shows that families in Britain are spending almost £450 a year celebrating their children's birthdays. Collectively Brits are spending £1.4 billion on children's first birthday parties.

The average spent on throwing a child's first birthday party is £87 with a further £84 being spent on birthday presents. A quarter of parents are reported to spend more than £100 on their child's party with one in ten spending over £150.

Cost is not just limited to offspring's birthday parties, with presents for other children's parties costing parents an average of £49 per year. For an average family with two children, the cost of celebrating birthdays is costing Brits around £450 a year.

70% of parents of children aged between 3 and 12 said that entertainment can make or break their little ones' fun. Other parents suggest delivering gourmet jelly and ice cream and going to amusement parks can make parties a success.

Putting on the party isn't always about the children however. While two thirds of parents said that they threw great parties because they felt their children deserved them, one in ten said that they put on great parties just to impress friends, family and other children's parents.

Commenting on birthdays, Kate Harris, Vice President of UK Partnerships from American Express, said 'Throwing parties can be a joy for parents and their children alike, however many families find that the cost of entertainment, venues, catering and presents soon adds up.'

Parents who find that entertaining their offspring has necessitated credit card spending could consider consolidating debts with a debt consolidation loan. One of many options to clear credit card debt, a debt consolidation loan will allow card holders to clear multiple credit card balances. Debt consolidation loans can be secured on your home and can be repaid over a term from 5 to 25 years. When opting for a debt consolidation loan, it is however important to remember that repaying borrowing over a longer term will increase overall interest charges. With a debt consolidation loan, multiple monthly repayments will be wrapped into one and cardholders will know the exact date and amount to be debited from their account each month.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Tuesday, January 23, 2007

January storms take their toll on properties

Following the stormy weather last week, people are being encouraged to repair the damage to their homes as quickly as possible. Even relatively minor damage should be repaired quickly or at least made safe according to AA Insurance. The home insurer had as many calls in 24 hours as a normal week to its emergency helpline. Calls were typically for emergency window repairs, significant structural damage caused by trees and branches, flooding and damage to roofing including loss of slates or tiles.

In addition to insurance calls for homes, the insurer also received calls regarding damages to cars and these were 50% higher than normal. Damage reported by callers included debris from property hitting their vehicles such as slates, tiles, gutter and pipes. Trees, branches and fence panels were also reported as causing damage as were wheelie bins and shopping trolleys. Drivers also experienced damage behind the wheel having to swerve to avoid debris or floods, and some were even blown off course and hit other property or vehicles.

Commenting on the recent bad weather, Gerry Barrett, head of AA Home Insurance said, "Clearly insurance companies are experiencing an especially high volume of calls so please keep trying to get through. And once the weather has calmed down it's important to look for tell-tale signs of damage that you might not have noticed. For instance, carefully look at your roof to see whether any tiles or slates have slipped or cracked. Gutters and pipes might have become dislodged and while still in place, might be dangerously loose. Take look in your loft when it's raining and look for tell-tale drips of water and keep an eye on top-floor ceilings - a damp patch would suggest a leak. In your garden, secure loosened fence panels, too. Climbing on to your roof is best left to people who know what they are doing."

Homeowners who would like to strengthen their property against potential storm damage could consider making home improvements with a secured homeowner loan. One of many options, a secured homeowner loan could provide funds not only to strengthen property against potential storm damage, but could also help pay for bigger home improvement projects including an extension or loft conversion. Other space adding projects that a secured homeowner loan could help with include adding conservatories or converting existing garages or basements. Secured homeowner loans can usually be taken over 5 to 25 years.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Friday, January 19, 2007

£1,509 is the average spent on fixing homes each year

Employing trades people to work on homes cost homeowners an average of £1,509 according to recent research by MoneyExpert.com. It was found that many homeowners fund home improvements with personal loans, and some had spent at least £10,000 on their properties in the last year.

Around 8% of those surveyed had spent over £5,000 to renovate their properties or fix problems, while 22% spent between £500 and £3000 to get professionals in to complete work. Those spending the most on employing tradesmen to carry out home improvements are Londoners, forking out on average £1,804.90. The Midlands and Scotland followed, with an average spend of £1,816.25 and £1,730.69 respectively. Those living in the North spent the least with the average cost being £1,084.84.

Sean Gardner, Chief Executive of MoneyExpert.com, said: 'Home improvements are one of the most popular reasons for taking out a personal loan. But when people go for major renovations and consider borrowing more than £10,000, they need to ensure they get good value for money. Personal loans can vary in price dramatically - you could end up paying back as much as a quarter of the amount you borrowed in extra repayments unless you research the market carefully.'

To fund home improvements, homeowners could consider a secured loan. One of many options available, secured loans can be repaid over a term of 5 to 25 years and can help fund bigger home improvement projects such as extensions, loft conversions and basement conversions. Adding a conservatory or converting garages are also popular home improvement projects which add more space to accommodate growing families. Secured loans can also help pay for the finishing touches once bigger projects are completed.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Thursday, January 18, 2007

Shoppers at the ready for January sales

Recent news from Halifax revealed that 38% of New Year sale shoppers will spend at least £50 each in the January sales. Two thirds of the UK population were set to head for the shops and browsing rather than shopping for specific items drives the majority of sales shoppers.

The biggest January sales spenders are those aged 35-44 - 31% of which spend more than £100 on average in comparison to only 18% of 18-24 year olds. A higher percentage of men usually spend £100 or more in the sales, 21% compared to 14% of women.

Impulse shopping is said to drive January sales with only 22% of shoppers having specific items in mind before they shop. The most popular items bought in the new year sales are clothing, footwear and accessories with 65% of sales shoppers saying these make up the bulk of their purchases. 13% of shoppers say that the majority of their purchases will be electrical goods.

Budgeting is often forgotten when the chance of getting a bargain comes up. The majority of new year shoppers (78%) don't allocate a set amount before they hit the shops. For those that do set a budget, almost half will stick to it (48%) while just over half (51%) of shoppers who sometimes or always go over budget will exceed this by £50 or less. Debit and credit cards are both popular payment methods used for buying in the sales, and are used by 57% and 38% of shoppers respectively.

Peter Jackson, Head of Products, Halifax, comments: 'After spending in the run up to Christmas, it can make a welcome change to buy something for ourselves in the January sales. But, we often buy in haste because an item has been reduced, or as a result of the pressure to find a bargain.'

Shoppers who have used credit cards to pay for Christmas gifts and purchases in the January sales could consider consolidating these with a secured loan. One of many options, a secured loan will wrap multiple monthly repayments into one and will stop the need to juggle several bills. Secured loans can be repaid over 5 to 25 years, it is however important to remember that repaying borrowing over a longer term will increase overall interest charges.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Wednesday, January 17, 2007

Parents raid kids' piggy banks this January

Clydesdale Bank recently reported that Scottish children received £190 million in cash over Christmas. As half of parents struggle financially in January, 1 in 10 will end up borrowing money from their offspring.

The latest research from the Clydesdale Bank found that more than 51% of parents in Scotland will struggle with their finances in January while their children receive an average of £191.50 in Christmas cash. 8% of parents admitted that they may have to borrow from their children to get them through to pay day at the end of January. Some even said that they would return their children's Christmas presents in order to raise cash.

Some parents have come up with other solutions to get through January's financial hardship. These include cutting out restaurant visits, and trips to the cinema and pubs.

Steve Reid, Clydesdale Bank's director of retail banking, said: 'January is possibly the hardest month of the year financially for most Scots. Many have to make their December salary last through Christmas and until the end of January. Cutting out pub visits or meals out to save money may be alright for some as they may coincide with a New Year diet! Raiding the children's money box must surely be the last resort though, especially if the parents struggle despite their best intentions to pay back the full amount.'

Parents who find they need to borrow from their children more often than during the post Christmas period, could consider consolidating their existing debts with a secured loan, stopping the need to juggle several monthly repayments. One of many options, a secured loan will wrap several monthly payments into one and can usually be repaid over a term of 5 to 25 years. Homeowners who find they are running out of room could use a secured loan to add the vital space needed for their growing family. When taking out a secured loan to consolidate existing debts, it is important to remember that repaying borrowing over a longer term will increase overall interest charges.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Monday, January 15, 2007

Children's house purchases funded by Bank of Mum and Dad

The Department for Communities and Local Government recently stated that parents could be increasingly under pressure to help their children onto the property ladder.

Government figures referred to showed that fourteen thousand people a year are releasing equity from their homes in order to help them buy another property, either for themselves or for family members - withdrawing an average sum of £74,000.

The under 30's buying their own home with a mortgage has also dropped with 34% purchasing in 2006 compared to 40% in 2001. To tackle long-term affordability problems, the Government said that more new homes need to be built. Though levels of house building have increased to more than 165,000 compared to 130,000 in 2001, this would need to reach 200,000 a year to respond to rising demand and affordability pressures.

Housing and Planning Minister Yvette Cooper said, 'Many people are still opposing the increased housing we need so badly. Yet it won't just be young people who lose out if we don't build the new homes the next generation needs. These figures show their mums and dads will feel the heat too.

It's also unfair on people who can't get family help to get them started. People's chances of home ownership should not depend on whether or not their parents or grandparents were home owners before them.

That's why we need to support more homes, and more shared ownership schemes, to give people a first step on the ladder.'

Parents wanting to help their children onto the property ladder could consider a secured homeowner loan. One of many options, a secured loan could raise funds needed for a deposit or to help with furnishings that many first time buyers are without. As well as helping their kids on their way, parent homeowners could also consider using a secured loan to make some improvements to their own property once offspring have moved out. Secured loans can usually be repaid over a term of 5 to 25 years.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Thursday, January 11, 2007

First time buyers spend above £150,000 on average

Recent research from the Halifax shows that first time buyers spent an average of £151,565 for their first home in 2006, compared to £137,122 in 2005. The average first time buyer had an income of £29,610 in 2006 and had to pay on average a deposit of £28,130 - 19% of the value of the property. The last five years have seen the average price paid by first time buyers almost double - in 2001 the average price paid was £77,914.

The research from the Halifax shows that first time buyers in Scotland paid the lowest price for their property, an average of £108,922. Five years ago, first time buyers were paying less than £100,000 excluding London and the South East.

The number of first time buyers has dropped 7%, falling from 340,000 in 2005 to 315,000 in 2006, said to be the lowest annual total since 1980. A decade ago there were 503,000 first time buys.

Commenting, Tim Crawford, Group Economist at Halifax said, 'First time buyers continue to struggle to climb onto the property ladder with the average house price paid by a new buyer entering the market now above £150,000. This is close to double the level of five years ago. First time buyer affordability is now an issue across the UK with the average house price paid by a first time buyer more than £100,000 in each region of the UK for the first time in 2006.'

Homeowners who would like to help their grown up kids on their way could consider taking out a secured loan to pay for the deposit on their first home. One of many options, a secured loan will provide the funds needed to help get offspring on the property ladder. Homeowners who'd prefer to keep their kids at home could consider a secured loan to extend their property, allowing a little more space for an extra reception room where offspring can entertain friends. Secured loans can usually be repaid over a term of 5 to 25 years.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Wednesday, January 10, 2007

Homeowners are improving rather than moving

A surprising number of homeowners, a reported 9 million, are planning on making improvements to their properties in the coming months according to research conducted by The MarketPlace at Bradford & Bingley. A growing number of homeowners, a reported 47%, prefer to make improvements to their property rather than relocate. Major building works such as a new extension or loft conversion feature on the list of work to be carried out.

Elliot Nathan, spokesperson for The MarketPlace, said: "Our current passion for DIY may be fuelled by more than just the 'Linda Barker factor', encouraged by the popularity of shows such as Changing Rooms. More and more homeowners may be responding to the still rising house prices, choosing to sit tight and make the necessary improvements to their current home rather than moving to a new one."

"In many parts of the country the jump in house prices can be quite considerable when another room is added. Homeowners are realising that it is more cost-effective to make changes to their home, such as building an extension or loft conversion, than buy a larger property, especially considering the associated costs and fees on top."

"Done properly as well, home improvements can add real value to a property. We would always advise people to seek out expert advice to ensure they are getting a good a deal as possible and are spending their money wisely. Shoddy work or work done on the cheap may have the opposite effect of devaluing the property."

When funding DIY, research from The MarketPlace has shown that the majority, 75%, of homeowners are most likely to use existing savings or income to fund their home improvements, while 15% are likely to borrow money in the form of a personal loan and 11% consider remortgaging.

Borrowing money in the form of a secured personal loan is one option to fund home improvements and could also tie together all existing debt into one straightforward monthly payment. From £10,000 to £100,000, a secured loan can be repaid over a term of 5 to 25 years. Done properly, home improvements could add real value to your property without homeowners having to relocate.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Tuesday, January 09, 2007

Halifax offer money advice to new students

As the new academic year has begun, parents and students alike have begun worrying about impending debt,Halifax offers some helpful money advice to help students through their time at university.

Peter Jackson, MD Banking and Savings at HBOS, comments, "Your student years are the best days if your life and provide a foundation for the rest of your adult life, it's important to get the most out of them. The last thing you want is for money worries to get in the way of either your enjoyment or your studies. These simple tips can help make money less of an issue both during and after your time at university."

Finding a place to live when they reach university seems to be one of the top priorities that students have. Savings on housing costs can be made by scouting for houses up to 6 months before moving. There are even some offers that combine rent and utility bills but sometimes these are not as great as they look.

It is also recommended that, in the second year when most students are looking for accommodation, they make the most of new friends by renting a whole house between them, saving costs on rent.

General tips for students are to save on transport by walking and cycling where possible and by making the most of discounts available for students on coach, bus and rail travel. Instead of forking out for brand new clothes, course books and equipment, many university towns will have abundance of charity shops and by shopping around and using university libraries students might find that they could save a few pennies.

Setting a budget and sticking to it is an easy way of saving money during university years. Life is all about getting the balance right, and although for many, a social life comes with being a student, there is no reason that setting yourself a budget should restrict your fun. By only taking the money that you plan to spend on nights out, it will be harder to give in to the temptation of that extra hour at the Student Union bar.

Students are encouraged to find part time jobs at restaurants or bars which can provide useful cash and the hours are usually easily fitted around lectures.

Parents with offspring at University might find that they would like to help their kids on their way. One option to consider could be a secured loan which would provide the funds needed to cover fees, books and other associated costs of a university education. Secured loans can be taken over a term of 5 to 25 years and lenders will usually allow customers to borrow up to £100,000 subject to status. A secured loan may also be an option when looking to make long awaited home improvements once children fly the nest. Refurbishing kitchens and bathrooms could prove their investment by adding value to a property. For those parents who have built up spending on credit cards to finance the extras required to put their children through university, a secured loan to consolidate debt may help. It is important to remember that repaying borrowing over a longer term may increase overall interest charges.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Friday, January 05, 2007

Consumers want luxury rewards on everyday purchases

A new study from MasterCard Worldwide has shown that when looking to take out a new credit card, three quarters of European customers look for one that offers rewards. Almost half would spend the reward points on themselves, which is surprisingly twice as many as those who would donate to a charity or environmental organisation.

Using the points to purchase luxury rewards like city breaks (33%), free cinema, theatre or concert tickets (26%), free spa days (25%), or a special house or garden makeover (24%) seems to be an increasing preference of many customers according to the findings.

As well as reward points, many customers still want financial incentives. The sectors from which consumers most want to collect rewards from are supermarkets (41%) and petrol (31%).

Customisation of rewards is vital to growing customer preference according to findings by the research. 59% of respondents said that they would be interested in a credit card that offered flexible benefits.

Frederic Conrads, Head of Cobranding, MasterCard Europe, said "Our research suggests that consumers take a very pragmatic approach to rewards on their credit cards. They want flexibility to alternate between everyday items, such as money off petrol, and the occasional treat, such as a discounted city break. A card that allows them to choose what they want, when they want it, is most likely to be top of wallet."

Those individuals who have multiple credit cards with high balances might find that a debt consolidation loan could be one option that may reduce their monthly repayments. A debt consolidation loan can usually be taken over a term of 5 to 25 years and is often secured on a residential property. There is a variety of lenders offering loans from £10,000 to £100,000. It is however important to remember that repaying borrowing over a longer term may increase overall interest charges.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Thursday, January 04, 2007

Start saving for your children’s futures now

In 2006, The Children's Mutual looked at the true cost of how much tuition would cost to gain qualifications in five professions; doctor, architect, solicitor, engineer, and nurse.

The Children's Mutual is the UK's only specialist in long-term savings for children. As a result of their research they are increasing the awareness of how families need to start saving early to help their children secure that dream job.

Research has found that the average cost of training for a profession through a three year vocational degree course today is around £32,000, this is inclusive of all tuition fees, accommodation, equipment, clothing, travel and books. The cost for the parents of would be doctors and architecture is even greater at around £70,000.

With a third of parents now expected to pay the full cost of their children's tuition, the Children's Mutual is encouraging those with young children to start saving now. If the CTF had existed 18 years ago, this would now pay out £47,000 if fully topped up.

David White, Chief Executive of The Children's Mutual, said "Training to be a doctor, architect or lawyer will be the dream of many A-level graduates this summer, but while they set their heart on a career and focus on the exam results, the cost of training for that profession may require far more planning."

"Finding £100 a month may be out of the reach of many parents with young children, but by saving a little regularly, and asking grandparents, godparents and the wider family to help, it could make all the difference when the child reaches 18. For those whose children aspire to be doctors or architects, having savings plans in addition to the CTF will be key if families want to foot the full cost of their child's training."

"When a child sets their heart on a career, most parents will not think twice about supporting them. However when the bills start rolling in they could be in for a shock. By saving regularly over the long term, parents and other family members could help provide a child with a financial springboard into chosen career and the chance to focus on job prospects rather than worrying about debt."

Parents who have found that they have not been able to save for their children's future whilst their offspring are growing up, may find that a secured loan could be one option to provide them with the extra cash needed to fund higher education. Secured loans of up to £100,000 are available to homeowners from a number of lenders. In addition to funding their children's further education, homeowners could also consider a secured loan to make the home improvements they've been waiting to do once their offspring fly the nest.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Wednesday, January 03, 2007

December sees house price increase

Recent news from Nationwide shows that house prices rose by 1.2% in December, bringing the 2006 annual rate up to 10.5%. The average house price in December was recorded at £173,746 compared to £172,185 in November.

House prices are said to have increased three and a half times faster in 2006 than in the previous year, at a typical rate of £45 per day. House price growth in 2007 is anticipated to be between 5% and 8% and is said to be supported by a buoyant economy, stable interest rates and a continuing shortage of housing supply.

Commenting on the 2006 house price increases, Fionnuala Earley, Nationwide’s Group Economist, said, ‘The stock to sales ratio – a good leading indicator of house prices – has continued to increase suggesting a few more months of firm price growth. However, we expect worsening affordability and recent interest rate hikes to affect the levels of activity in the market in the coming months. This will feed into a slower rate of house price growth in the second half of next year. The number of estate agents reporting an increase in new buyer enquiries fell back sharply in November, and while this is a more volatile indicator of house purchase approvals, it does lend some support to the view that we will soon see the start of some weakening in demand.’

With house prices continuing to rise, homeowners looking to move up the property ladder could consider taking out a secured loan which could be used to finance that extra bedroom or bathroom many look to gain by moving house. A secured loan is one of many options to improve property, and the opportunities to enhance current homes are endless. A secured loan could provide the funds needed to extend and add more space for a growing family. Homeowners might decide to use a secured loan to extend upwards as well as outwards, to add that valuable extra space to their homes. Not forgetting the garden, a secured loan could also provide the funds required to add the final touches to the exterior of homeowners’ big improvement projects.

Links to this post:

<$BlogBacklinkTitle$>: <$BlogBacklinkSnippet$>
posted by <$BlogBacklinkAuthor$> @ <$BlogBacklinkDateTime$>

Wednesday, January 31, 2007

Credit card spending on the up in 2007

Links to this post:

Tuesday, January 30, 2007

Britons confident about managing finances

Links to this post:

Monday, January 29, 2007

£5.5 billion spending spree set for January

Links to this post:

Friday, January 26, 2007

Less than ¼of transferred credit card debt paid during 0% interest periods

Links to this post:

Thursday, January 25, 2007

Clearing post Christmas debt

Links to this post:

Wednesday, January 24, 2007

£1.4 billion spent on perfecting kids parties

Links to this post:

Tuesday, January 23, 2007

January storms take their toll on properties

Links to this post:

Friday, January 19, 2007

£1,509 is the average spent on fixing homes each year

Links to this post:

Thursday, January 18, 2007

Shoppers at the ready for January sales

Links to this post:

Wednesday, January 17, 2007

Parents raid kids' piggy banks this January

Links to this post:

Monday, January 15, 2007

Children's house purchases funded by Bank of Mum and Dad

Links to this post:

Thursday, January 11, 2007

First time buyers spend above £150,000 on average

Links to this post:

Wednesday, January 10, 2007

Homeowners are improving rather than moving

Links to this post:

Tuesday, January 09, 2007

Halifax offer money advice to new students

Links to this post:

Friday, January 05, 2007

Consumers want luxury rewards on everyday purchases

Links to this post:

Thursday, January 04, 2007

Start saving for your children’s futures now

Links to this post:

Wednesday, January 03, 2007

December sees house price increase

Links to this post:

Previous Posts

Archives