Missing Credit Card Payments?
With Christmas fast approaching it is tempting to miss a few payments, we are often asked if missing credit card payments really affect my credit rating?
The quick answer is yes, but that doesn’t provide much information, so we have delved a little deeper in this article.
The first point to consider is what is a credit rating?
There are a number of credit agencies in the UK, and they create credit rating or scores, based upon the way we deal with our finances. They record who, what, and how much credit we have, and our payment record. Typical credit scores range from 300, which is the lowest, to about 850, which is the highest.
There are many factors which will determine our credit score; how much we owe, the length of time we have had credit and whether we pay our bills on time. Read more here
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Sale And Rent-Back
With new regulations in force for SRB it is useful to know what sale and rent-back (SRB) is?
Sale and Rent-Back is a scheme where you sell your home at a discounted price, and in return you stay living there as a rent-paying tenant for a fixed term. REMEMBER: It is not a type of equity release.
- Typically SRB companies purchase people’s houses for a discount, find out more about SRB here
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Are You Covered?
43% of mortgage holders have no life cover. With the average outstanding mortgage of £108,819* this is a worrying thought. The vast majority are 18 to 24 year olds, with the next highest category being 25 to 34 year old home owners having no life cover.
When you consider that almost one third of 35 to 44 year olds don’t have life insurance to protect their mortgage, and 34% of 45 to 54 year olds aren’t covered either, what is the cost for families in the event of non-payment? Find out more here.
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Money saving tips
With Christmas only 10 weeks or so away, we have put together some useful money saving tips.
As there are now approximately 31 m people online, (NOP World, June 2006) and more and more people are buying goods and services online spending £30.2bn during 2006 (IMRG, January 2007) we have put together some guidelines for buying online. Read more of our safety tips here.
7 Ways to save for Christmas
or all of us who are short of cash, I have taken a look at ways to make Christmas 2010 less expensive than usual. I have created my top 7, you are welcome to add more of your own to the bottom of the list To take a look at ways to save cash this Christmas follow this link.
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