UK Secured Loans Blog: February 2007

Tuesday, February 27, 2007

Even more holidays in 2007

An annual survey from American Express Insurance Services shows that the number of holidays abroad is set to rise for the third year in a row. In total, a 3% rise is expected in all UK and foreign trips including weekend breaks, holidays of more than 5 days and business trips. The most significant rise was in the number of leisure breaks being taken with holidaymakers planning 11% more weekend breaks in the UK.

Reasons given for taking holidays varied, with 31% stating they were simply taking a holiday, 25% were visiting family and 19% were visiting friends. Special occasions, like weddings, were the reason given by 6% of respondents and 4% said they were attending sporting events.

Joanne Field, Marketing Manager, American Express Insurance Services said: 'Not only are Britons planning more trips both here and abroad, but they are booking more independently than last year.'

Homeowners who have found themselves using credit cards to cover the cost of increasing holidays, could consider consolidating these debts with a debt consolidation loan. Debt consolidation loans can be taken over a term of 5 to 25 years and are one of many options to consolidate debt. When using a debt consolidation loan to pay off credit cards, it is important to remember that repaying borrowing over a longer term may increase overall interest charges. With a debt consolidation loan, multiple monthly repayments can be wrapped into one, and you'll know the exact amount and date payment will be taken each month.

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.

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Friday, February 23, 2007

Football fans stay at home as cost of live matches grows

As the cost of going to live matches continues to grow, more than 40 per cent of football fans have cut the number of live matches they watch according to recent research from Virgin Money. The Virgin Money Football Fans Price Index shows a 17 per cent annual rise in the in the cost of attending football matches since the start of 2006.

The trend is said to be set to continue in 2007 and one in seven supporters say they will be attending 10 less games than normal as games become less affordable to attend. The research revealed that 41 per cent of supporters across the country had cut the number of games attended throughout 2006; half of these were season ticket holders.

Those most likely to cut back are premiership supporters, with around 46 per cent admitting they attended fewer games compared to 41 per cent of Championship supporters. The survey findings show the threat rising costs of being a football fan has on the future of football.

The real cost of attending the game has risen by 17.33 per cent. The main reasons for the rising cost of attending games is mainly down to price increases for replica shirts, match tickets and food, with the cost now being £91.46 compared to £77.95 in previous years.

Virgin Money spokesman John Franklin said: 'Football fans' loyalty is legendary but eventually something has to give. The rising costs of following the game are starting to hit home and people are being forced to cut the number of games they go to. The FA Cup Third Round saw plenty of examples of games where there should have been bumper gates but attendances were down. The quality of football is not worse than last year - and the Cup still produced some shocks - so it has to be down to costs.

Football fans who have relied on credit cards to fund the ever increasing costs of being a supporter, and who are looking to consolidate debts, could consider doing so with a secured homeowner loan. Consolidating debts with a secured homeowner loan wraps multiple monthly repayments into one, and borrowers will know that exact amount and date payment will be taken each month. As well as consolidating debts, football fans who find themselves spending more time at home may choose to use a secured homeowner loan to make home improvements. One of many options to consolidate debts, or make home improvements, secured homeowner loans can be repaid over a term of 5 to 25 years. When consolidating debt with a secured homeowner loan, it is however important to remember that repaying borrowing over a longer term may increase overall interest charges.

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Thursday, February 22, 2007

2.7 million Brits have five or more credit cards

Recent research from MoneyExpert.com shows that one in every seventeen British adults has five or more credit cards in their wallets. It is said that 2.7 million Brits have built up large debts or card 'tarted' so frequently that they now have at least five each.

77 per cent of the adult population in the UK own at least one credit card, and over half say they have one or two credit cards. Around a third of all credit card holders own three or more credit cards. The research shows that men are most likely to have credit cards, with twice as many men that women having five or more cards to chose from.

Regionally, Londoners are slightly more reliant on credit cards than others in the UK, with 28 per cent of those living in the capital having three or more credit cards. Those living in the South come second, with 27 per cent admitting they own three or more credit cards. People living in the North are least likely to have three or more credit cards, with 23 per cent admitting this is the case.

Commenting, Sean Gardner, Chief Executive of MoneyExpert.com, said: 'The British love affair with credit cards continues. It is healthy if people are switching cards and clearing debts but people are kidding themselves if they rely on moving from one card to another just to avoid repaying their debt. Long zero per cent credit card deals are attractive for a variety of reasons and consumers shouldn't be afraid to take advantage of them. But the number one rule is borrow what you can afford to pay back.'

Homeowners with debt spread across multiple credit cards could consider consolidating this with a debt consolidation loan. One of many options to pay off debt, debt consolidation loans can be repaid over a term of 5 to 25 years. Debt consolidation loans wrap multiple debts into one straight forward monthly repayment. Worries about which credit card bill should be paid and when can be lessened as you'll know the exact date and amount that will go out each month. If opting for a debt consolidation loan, it is advisable to close credit card accounts once the debt has been cleared. When taking a debt consolidation loan, it is however important to remember that repaying borrowing over a longer term may increase overall interest charges.

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Sunday, February 18, 2007

Transactions on plastic cards hit record levels

Recent news from APACS reported that there were a record number of transactions on plastic cards in December. There are said to have been 250 transactions per second throughout December with spending on plastic reaching £31 billion. With debit card spending rising significantly, this did in fact make up the majority of plastic spending over the festive month.

Credit card spending was reported to have gone down slightly and was £11.4 billion in December 2006 compared to £11.5 billion in December 2005. The volume of card transactions also decreased from 205 million transactions in December 2006 to 197 million transactions in December 2005.

Sandra Quinn, director of communications at APACS, said: 'We spent record amounts this Christmas and record amounts on our cards. The trend that we have seen over recent years of cards replacing cash and cheques on the high street continued this Christmas. Spending on debit cards in particular has dramatically increased and now stands at almost double the level of spending on credit cards. Our figures show that cardholders are becoming more responsible in the way that they borrow and we are clearly focusing on repayments, with the majority of spending being done by debit rather than credit cards.'

Homeowners who used credit cards over the festive season, could consider paying these off with a debt consolidation loan. Debt consolidation loans can often be taken in the form of a secured loan which is secured on homes. A debt consolidation loan is one of many options to pay off credit cards. With any debt consolidation loan it is advisable that credit cards are paid off immediately and shut down to prevent further spending. Debt consolidation loans can be repaid over a term of 5 to 25 years; it is however important to remember that repaying borrowing over a longer term may increase overall interest charges.

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Friday, February 16, 2007

Storms could cause millions of pounds worth of damage to homes in 2007

Recent news from Abbey stated that storms could cause around £324 million of damage to homes this year. In total, 620,000 storm-related claims on buildings insurance are made each year. A household claim is around £522 per household and 36 per cent of homes are still uninsured.

People are warned that they should make sure they have the appropriate cover for their properties as the stormy season begins. Guidance on how to prepare for a storm and protect homes from damage includes checking roves for loose tiles which could be dangerous if they fall. Homeowners should also check the outside of buildings and secure anything that could be damaged, or that could cause damage. Trees and loose branches are another thing homeowners should be aware of. Loose branches can cause damage to telephone lines and windows when there are high winds. If flooding is expected, homeowners should protect as many of their belongings as possible by moving them upstairs. Sandbags can be used to prevent water coming into homes.

Homeowners who'd like to carry out vital home improvements to protect their properties against storm damage could consider funding these with a secured home improvement loan. One of many options, a secured home improvement loan could help fund building projects such as re roofing a property. Even bigger projects such as loft conversions, basement conversions or even extending a property may be funded with a secured home improvement loan. Secured home improvement loans may also be considered as a means of funding smaller projects like refitting kitchens or bathrooms or even adding a conservatory. Secured home improvement loans can usually be repaid over a term of 5 to 25 years.

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Thursday, February 15, 2007

New business for new Mums

Recent research conducted by Tesco Business Credit Card reveals that becoming a mum is likely to be the most common incentive for women to start up their own businesses. Juggling the demands of working for an employer while still being a good mum inspire many women to go it alone.

The flexibility of combining work with family life is the main reason given by women for setting up on their own. Men in the other hand opt for self employed careers as a means of earning more money. Women typically set up their own businesses between the age of 25 and 34, while their male counterparts set up business between the age of 34 and 45.

Women are most likely to start up their new businesses after the arrival of their firstborn and the chances of starting a business lessen dramatically with each additional child born. According to the research by Tesco Business Credit Card, men are more likely to earn more from their businesses.

The research reveals that most new businesses started up by women will be in the south east of England, East Anglia, London and the East Midlands. Scotland, Northern Ireland and Wales have the fewest new businesses started by women.

Monica McCormack, spokesperson for Tesco Business Credit Card, said: 'Our study suggests that new mothers may be having a bigger impact on the dynamism of Britain's economy that anyone previously imagined. They appear to be a powerhouse of creativity, which is only to be encouraged.'

Self employed men and women who would like to carry out some home improvements or consolidate debts could consider doing so with a secured loan from Nemo. Nemo's specialist self employed secured loan allows self employed homeowners to borrow from £10,000 to £75,000. One of many options, a self employed secured loan can fund smaller home improvements such as refitting kitchens and bathrooms. A secured loan could also help fund bigger projects like loft and basement conversions or extensions of a grander scale. Secured loans can be repaid over a term of 5 to 25 years.

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Tuesday, February 13, 2007

Many failed to save in 2006

Alliance and Leicester recently reported that up to 12 million Brits failed to save anything in 2006. With 2.4 million of us preferring to live for today, rather than save, one in five failed to save as much as they planned in 2006. 2007 is earmarked as a year to sort out savings for eight out of ten of us.

Research by the Alliance and Leicester explains that one in three Brits saved nothing in 2006 and a fifth said they didn't save as much as they had planned during the year. Half of those who did save were unable to resist dipping into their nest eggs during the course of the year.

82 per cent say that 2007 is the year in which they will sort out their savings, nearly a third say that this is because they have realised the implications of not having adequate funds put aside. More than half of us will put money aside as and when we can afford to in 2007 instead of committing to a regular savings scheme. Loose change will be collected by 31 per cent of us and put it in a piggy bank.

Reasons given for not saving money include that it is time consuming and unnecessary. 74 per cent say that they couldn't afford to save and that this is likely to continue in 2007. Adopting for a live for today lifestyle are 6 per cent who prefer to spend rather than save hard earned cash.

Homeowners who have found it difficult to save in 2006 and have several credit cards, could consider consolidating these with a debt consolidation loan. Having several credit and store cards, it is possible that a large part of monthly repayments is interest. With a debt consolidation loan, it is possible that a small part of monthly outgoings could be freed up as borrowing is spread over a longer term. Clearing debts with a debt consolidation loan means that there is no longer any need to juggle multiple monthly repayments as they will all be wrapped into one. One of many options, debt consolidation loans can usually be repaid over a term of 5 to 25 years. It should however be remembered that repaying borrowing over a longer term will increase overall interest charges.

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Friday, February 09, 2007

Britain warned to prepare for cold snap

Homeowners have been warned that they should prepare for this weeks' big freeze following reports of the increasing risk of cold and wintry conditions. Halifax Home Insurance advises homeowners that loft pipes could be the first to freeze unless they take the right precautions. Freezing temperatures bring burst pipes and this usually occurs in the loft.

Pipes burst when temperatures drop. Frozen water inside pipes expands and this causes pipes to swell and crack. Older pre 1960s properties are particularly at risk as they do not benefit from modern insulation which provides protection against the elements.

Vicky Emmott from Halifax Home Insurance commented "Water from a burst pipe within a loft space can very quickly cause damage to plaster ceilings, wall plaster, kitchen units, electrical wiring and decoration, as well as carpets, beds, electrical items and other contents within a property. So by simply insulating your pipes you can help to protect yourself from unwanted disasters this winter. It is also worth considering how prepared you would be if the worst was to happen. Halifax Home Insurance provides its customers with a 24 hour home emergency helpline manned by fully trained colleagues who can offer useful information and advice on how to manage a home emergency."

Once the wintry weather is over, homeowners who would like to prepare their properties for next years' cold spate could consider funding improvements with a secured loan. One of many options, a secured loan could help provide the finances needed to replace roofing or to improve insulation, thus protecting properties against the risk of bursting pipes. Secured loans may also be used to fund other home improvement projects including extensions and loft conversions, both useful investments to create space to accommodate a growing family. Secured loans can also be used for smaller space creating projects such as garage conversions or even adding a conservatory. Homeowners can repay a secured loan over a term of 5 to 25 years.

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Thursday, February 08, 2007

Baby budgeting

Recent news from Halifax tells would be parents that when expecting a baby, life will never be the same again. Moreover parents are reminded that they might not anticipate just how quickly they will feel the effects on their finances.

Halifax estimate that the cost of preparing for a new baby is at least £1,600. Costs can mount up even when offspring are a twinkle in parents eyes. Pregnancy tests, ovulation tests and fertility kits all come at a cost. Books to guide parents through the process add to this cost.

Mums to be need to spend around £240 just to get essential maternity wear items including jeans, trousers, tops a skirt or dress and a maternity bra. Some parents wishing to prepare for childbirth and parenting often also op for private antenatal classes in addition to those provided by the NHS. This can cost up to £100 for eight classes.

Initially, preparation for a newborn is just over £1,000. This does not take into account any changes that have been carried out in the house, nursery, moving or upgrading home and buying or upgrading to a family sized car.

Mike Regnier, head of savings at Halifax, said: "You may think that all the major costs involved with bringing up children are in the distant future. However, a significant outlay is required even before your new addition to the family makes his or her arrival. For many, the run up to a baby can signal a shopping frenzy, be it for cots, toys or just baby clothes."

Those parents who are contemplating moving house to accommodate a growing family could consider a improving what they already have with a secured loan. A secured homeowner loan could help finance the cost of adding extra space to accommodate a growing family. Whether it be converting the garage, adding a conservatory or even carrying out a bigger project such as extending, a secured loan will provide the funds needed to get the job done. Secured loans can be repaid over a term of 5 to 25 years. Other home improvement projects that can be financed with a secured loan include refitting existing kitchens and bathrooms, adding a breakfast room, or even converting lofts or basements to add extra space for new arrivals. And when work on the house is done, homeowners could consider using any spare funds from their secured loans to add finishing touches to gardens and driveways.

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Wednesday, February 07, 2007

Getting on the property ladder

Latest news from Abbey reveals that first time buyers are willing to make sacrifices to get on the property ladder. Over half are prepared to give up holidays and alcohol in order to make their first time purchase. Another measure taken to get on the property ladder is moving back in with parents.

In a survey conducted on first time buyers, it was found that over half would give up their holiday and 49 per cent were willing to give up alcohol. A smaller number (21per cent) would move back in with their parents. Some even said that they would make sacrifices on dating and relationships if it would help. First time buyers even said that they were willing to switch off the heating.

Although almost half of those surveyed said that they would give up alcohol, just 12 per cent of those living in the North East are willing to do so. Fewer people living in Scotland were willing to move back in with their parents, seven per cent compared to the national average of 21 per cent.

Nici Audhlam Gardiner, Head of Mortgages at Abbey, said: 'With first-time buyers struggling to get onto the first rung of the property ladder, prospective homeowners are having to make big sacrifices to build their finances. However with a typical first-time buyer taking as long as five years to save up a 5 per cent deposit, people would need an iron will to sacrifice anything they enjoy for that long.'

Parents who are keen to get grown up children on the property ladder could consider a secured loan. A secured loan will raise the funds needed for a deposit and could also help with other first time buy essentials their children will need when moving out of home. One of many options, secured loans can be taken over a term of 5 to 25 years and homeowners can agree a repayment term to suit them. Parents who have children moving out and on to the property ladder could also consider a secured loan to give their own homes a make over once kids have moved out. And as time moves on and Grandchildren start to arrive, homeowners could consider a secured loan to provide funds needed to extend their homes to accommodate their growing family for weekend stay overs once the little ones come along.

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Monday, February 05, 2007

Down under out does down hill for Winter holidays

Research from Barclays Travel Insurance has shown that British holidaymakers are shunning the slopes for trips down under. There has been a huge increase of British tourists visiting Melbourne and Sydney this winter as millions opted to watch the Ashes rather than take to the ski slopes. Sydney saw a 25% increase in British visitors, while those going to Melbourne increased by 140%.

Australia is not the only destination to see an increase of British holiday makers. Hong Kong and Phuket, both popular stop overs for Australian trips, were also visited by a larger number of Brits this year as was New York. The top five holiday spots by number of British tourists during December and January are Paris, Sydney, Dublin, New York and Dubai. When it comes to spending, British holiday makers are forking out the most in Las Vegas, Verbier and Phuket. Those visiting Dublin, Paris and Prague are spending the least.

Spend and trips to European ski resorts Meribel, Val D'Isere and Chamonix are down by 18% in comparison to last year. The limited snow fall so far this year is said not to have helped.

Mark Till, Marketing Director for Barclays Insurance, said 'Long haul breaks seem to be becoming increasingly popular with British holidaymakers over the Christmas and New Year period. Flights are getting cheaper and Brits are prepared to trek further for the chance of some proper winter sunshine. Of course this year the numbers travelling to Australia were boosted further by the added attraction of the Ashes taking place whilst Europe's slow start to the ski season due to a lack of snow has also encouraged tourists to look elsewhere.'

Homeowners looking to take that long deserved holiday of a lifetime could consider financing it with a secured loan. One of many options, a secured loan could help pay for a family trip down under, in the snow or maybe even on a deserted beach. A secured loan can help pay for flights, accommodation, food, gifts and memorabilia. Homeowners could also consider a secured loan to help pay for long awaited home improvements once home from the holiday of a lifetime. Secured loans can help fund smaller projects such as decorating or refitting kitchens and bathrooms, all the way to funding bigger projects like extending to make way for a growing family. Whether it be an extension, loft conversion or conservatory that is needed to make space for a growing family, a secured loan can help finance the project. Secured loans can be taken over a term of 5 to 25 years.

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Tuesday, February 27, 2007

Even more holidays in 2007

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Friday, February 23, 2007

Football fans stay at home as cost of live matches grows

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Thursday, February 22, 2007

2.7 million Brits have five or more credit cards

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Sunday, February 18, 2007

Transactions on plastic cards hit record levels

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Friday, February 16, 2007

Storms could cause millions of pounds worth of damage to homes in 2007

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Thursday, February 15, 2007

New business for new Mums

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Tuesday, February 13, 2007

Many failed to save in 2006

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Friday, February 09, 2007

Britain warned to prepare for cold snap

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Thursday, February 08, 2007

Baby budgeting

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Wednesday, February 07, 2007

Getting on the property ladder

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Monday, February 05, 2007

Down under out does down hill for Winter holidays

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