If you currently have a tracker mortgage then an increase would have a direct affect. If the base rate increased by 0.25% then your mortgage rate would also increase by this amount. This may not sound like much but on a £200k interest only mortgage this would amount to approximately £40 per month.
If you have [...]
Mortgage Refinancing Factors You Should Know
Friday, 06. 19. 2009 – Category: Remortgage
Before facing off with a lender, before applying for a mortgage refinancing, there is, of course, research.
You should never be alienated in the discussion. Know the common terms used in the deal in order to keep track of the conversation and know where you stand. Not everybody is a financial analyst, but one should know [...]
How to Save on Credit Card Interest
Thursday, 06. 18. 2009 – Category: Downturn, Second Mortgage
Credit card interest takes the first dollars from every payment you send, so reducing the amount of interest you pay means your debt will be paid faster.
One way to reduce those interest payments is to ask for a lower interest rate, of course. You can also transfer your balances to credit card accounts that charge [...]
The Dangers of Interest Rates and Quick Loans
Wednesday, 06. 17. 2009 – Category: Downturn, Uncategorized
It is not all that hard to get funding for your money needs online. There are a lot of financial institutions with online presence offering quick loans for most everyone. It is very easy to get carried away and apply for quick loans even for cash that you do not absolutely need. [...]
Bank keeps interest rates at 0.5%
Thursday, 04. 9. 2009 – Category: Downturn
The Bank of England has kept interest rates on hold at 0.5%, in a widely expected move following a number of rate cuts in recent months.
Rates remain at an all-time low after six cuts since October last year, when interest rates stood at 5%.
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Break These 5 Financial Habits To Become Debt Free
Thursday, 03. 12. 2009 – Category: Mortgage, Mortgage Arrears
None of us are perfect when it comes down to bad habits, but some are worse than others; not understanding your debt or finances is one of them. Kicking these bad habits into touch means that you can look towards becoming debt free:
1: Too many credit cards – Did you know that there are more [...]
Be Mortgage Free-in Less Than Half the Time
Wednesday, 03. 11. 2009 – Category: Uncategorized
It’s no secret that the largest debt most people will have in their lifetime will be tied to their home. Yes, it is the one associated with that number 30, as in 30 years. It is amazing that when we do finally pay it off, that the total amount paid, with interest, of course, is [...]
Primer on Quantitative Easing
Wednesday, 03. 4. 2009 – Category: Downturn
JONATHAN ASHWORTH, ECONOMIST, BARCLAYS
As interest rates headed towards zero after the collapse of investment bank Lehman brothers in September 2008, the
US Federal Reserve (fed) began to engage aggressively in what is commonly referred to as ‘quantitative easing’ (QE).
Moreover, as the global slowdown and ‘credit crunch’ have intensified, the bank of Japan (BOJ) has resumed QE [...]