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Logbook Loans Fast – Flexible In The UK – Varooma™ 2015 #new #business #loans


#logbook loans
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Fair, Fast, Flexible Logbook Loans

Borrow up to 70% of the trade value of your car with one of the UK’s cheapest, best customer rated logbook lenders Varooma.com .

  • CCJ’s & Defaults OK
  • No early settlement fees; pay early pay less
  • No hidden charges; all costs clearly explained
  • Prompt credit decision; money within hours
  • We PROMISE that we will aim to beat any written quote from any other logbook lender

REPRESENTATIVE EXAMPLE:

Amount of Loan £1000.00. Repayable by 12 monthly repayments of £141.67 commencing 1 month from the date of the loan. Total Amount Repayable £1700.04. Rate of Interest 70% per annum flat fixed. Representative 190.3% APR.

Over a half of our customers set up a loan based on this example and this APR. Warning: Late repayments can cause you serious money problems. For help or advice please go to www.moneyadviceservice.org.uk Please take time to read and understand our FAQ’s to ensure our logbook loan product is suitable for your requirements.

In the event there is no willingness to repay your loan, the vehicle you are using as security could be at risk of being repossessed and sold to assist in settling the debt.


Spreadsheets – The Mortgage Professor #need #a #loan #now


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Explanations of the Different Spreadsheets

The spreadsheets below can be saved to the hard drive of your computer by clicking on File and then Save As.

You must have Excel 2000 or later installed on your computer. When you enter a number in the spreadsheet, other numbers change only when you move the cursor.

Monitoring Ownership Shares of Occupant and Investor

This spreadsheet allows you to simulate and monitor the ownership shares of an occupant, and an investor who helps make occupancy possible.

Monitoring Amortization of a Simple Interest Loan

This spreadsheet allows you to keep track of the balance on a simple interest mortgage that accrues interest daily. Just make sure that the payments are recorded on the exact day they are credited to your account by the lender.

Keeping Track of Payments on Interest-Only (IO) Mortgages

This spreadsheet allows you to track the effects of principal payments on your loan balance and your interest payment on an IO. It also shows the fully-amortizing payment you will have to start paying at the end of the interest-only period, and if the IO is an ARM, you can change the interest rate.

Extra Payments on Monthly Payment Fixed-Rate Mortgages.

This spreadsheet allows you to track the impact of extra payments on your loan balance and date of payoff. It is discussed in Have I Been Credited For My Prepayment ?

Extra Payments on Bimonthly Payment Fixed-Rate Mortgages .

The same program for borrowers on a bimonthly payment basis.

Extra Payments on Adjustable Rate Mortgages .

The same program for borrowers with ARMs. The borrower must enter new interest rates after the initial rate period, as well as any extra payments. This spreadsheet only works for ARMs on which the payment is recalculated to be fully amortizing whenever the rate changes. It will not work for negative amortization ARMs. Borrowers who make extra payments to shorten the term should read Can I Pay Off an ARM Early. and Using a Calculator to Prepay an ARM .

This spreadsheets allows you to compare total interest payments and payoff dates for conventional biweeklies, biweeklies on which payments are credited biweekly rather than monthly, and standard monthly payment loans on which the payment has been increased by 1/12. It is discussed in Refinance at a Higher Rate ?

This spreadsheet allows you to calculate future net worth under different assumptions regarding how large a down payment you make, the terms of any mortgage, how much you earn on investments, and other factors. Read Will I Be Richer at 65 if I Pay All Cash Now ?

Blended Annual Percentage Rate (APR) .

This spreadsheet allows you to calculate an APR for a combination of first and second mortgage. Read Is There a Blended Interest Rate ?

Invest in Less Mortgage .

This spreadsheet allows you to calculate the yield on an investment in a larger down payment. Read Invest in Securities or Down Payment ?

Yield to Lender on Wrap-Around Mortgages .

This spreadsheet allows you to calculate the yield to the lender over any period on a wrap-around mortgage. See What Is a Wrap-Around Mortgage. Note that the yield to the lender on a wrap-around is also the interest cost to the borrower on a cash-out refinance.

Loan Repayment Versus Investment .

This spreadsheet allows you to compare your net worth in two situations: one where you liquidate assets to repay your mortgage, the other where you retain the assets and the mortgage. The spreadsheet lets you change the interest rate over time.

Value of Assumptions .

This spreadsheet allows you to calculate the value of being able to assume an old mortgage that carries a rate lower than that available in the current market.


Loans UK – The UK s leading lenders under one roof #department #of #education #loans


#uk loans
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Secured loans

  • 5,000 – 100,000
  • Between 5 and 25 years
  • Interest rates from 6.9% APR

A secured loan is only available to people who own their own home and have equity in their property.

Example: 150,000 house value and a 75,000 mortgage balance = 75,000 available equity in the property.

The equity is not the only determining factor when obtaining a loan. Your credit rating will also restrict the loan amount available and interest rates payable.

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Unsecured loans

  • 1,000 – 15,000
  • Between 5 and 25 years
  • Interest rates from 6.9% APR

Availability of unsecured loans is based on your credit history.

Example 1: 50,000 salary, good job, own their own home and never missed a payment on their loans or credit cards = lowest available loan rates.

Example 2: Self Employed, variable income, missed a couple of payments on a credit card and rent their home = no unsecured loans available.

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Bridging loans

They can be arranged in days as opposed to weeks and amounts of between 25,000 and 5 Million can be made available.

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Is a bridging loan the right solution for our homebuying needs? #free #mortgage #calculator


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Is a bridging loan the right solution for our homebuying needs?

Q We own a property outright valued between 475,000 and 495,000, but it does not have the accommodation we require. We have seen another nearby that would be almost ideal for our needs once it was extended and modernised. The asking price is 300,000, but I think an offer of 280,000 would be accepted. I estimate the cost of extending and modernising would be around 60,000- 70,000.

My wife is 64 and retired. I am 63 this year and partially disabled, but I work part time as a director and co-owner of a small business. Our combined income is a very modest 20,000- 24,000. I have occupational pensions with a total pot value of 85,000 that could be taken now, and we have 25,000 in equity Isas, 7,000 in cash Isas and 5,000 in savings. My state pension is payable from 2014 and is presently estimated to be in excess of 9,000 a year.

I think we could finance this project with a bridging loan of up to 350,000, that we would require for a period of up to nine months. We are fortunate our present home is in a very desirable location and our local estate agents all confident it would sell quickly once marketed, and would achieve the upper end of the valuation.

Do you think a bridging loan is a feasible and cost-effective source of finance, and if so can you recommend any lenders? Alternatively, what other sources of funding could you suggest? JJ

A Because lenders consider your personal circumstances less important than when considering a conventional residential mortgage, a bridging loan is certainly feasible for you – but it’s hardly cost effective.

Costs vary from lender to lender but are likely to include an arrangement fee of 1.5%, legal fees and interest on the loan, which could be anything between 1% and 2% a month – so between 12% and 24% a year.

In your case, if you raised a bridging loan of 350,000 (assuming a purchase price of 280,000 plus 70,000 for building works) secured on your current home (assuming a value of 475,000), you could pay an arrangement fee of 5,250 plus that amount in interest for each of the nine months you would have the loan. In total, the fees plus interest would come to 52,500.

You could cut the cost of the loan by using both properties as security for the loan. But even then you would pay a total of nearly 29,000 in fees and monthly interest. I can’t help feeling you would be better off selling your current home, buying the new property outright with cash and renting somewhere to live while the building work is done.


Installment Loan – The Types and Advantages #payday #lenders


#installment loans
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Installment Loan – The Types and Advantages

Installment loan is a consumer loan in which principal and interest are paid off through equal monthly payments.

Installment loans are generally taken to purchase home, car, furniture etc. The loan comprises of specified amounts that are to be repaid over a predetermined repayment period. The payments can include both the principal and the interest or it may contain only the interest amount with the principal being paid in a lump sum amount with the final loan installment.

Installment loans are available in the market as:

  • Unsecured loans:

These loans are riskier for lending institutions and are hence available at higher rate of interest. The loan is available only if the borrower has a good standing in terms of credit score, payment history and job status. Example; Personal loans, student loans, etc.

  • Secured loans:

    These loans are offered by the bank or a financial institution against collateral. The bank can even sell the property if the loan isn’t paid back. The interest rates for secured loans are comparatively lower than unsecured loans. Example; mortgage home equity loan. home equity line of credit are secured loans.

  • Why borrowers prefer Installment loans

    There are certain advantages of dealing with installment loans which makes them a preferable choice.

    • Borrowers are aware of the amount of monthly payment that they have to make and the time period allowed to pay off the loan. So they can take the right financial move by planning a proper budget.
  • Installment loans have extremely competitive rates which vary in the 5 to 7 percent range.

  • Repaying an installment loan includes interest payments and after a certain period, an increasing portion of principal amount is also paid back. This helps in steady reduction in the principal amount during the loan term.

  • Instant Cash Advance Online Seems a Preferred Method of Borrowing, says CEO of One of the Lending Companies #student #loan #interest #rate


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    Instant online cash advance from http://instantcashadvanceglubos.com/ proves to be a good option for people who need cash in a hurry as they celebrate their first anniversary with great success.

    (PRWEB) August 09, 2012

    No one wants to incur long-term debt, but another option for borrowing money for emergencies is the instant approval cash advance online. This is a short-term loan for up to $1,000, depending upon the borrower s ability to repay.

    The first step in getting instant cash advance loans is to fill out the payday representative s loan application and return it via e-mail. The representative then finds a lender that fits the borrower s needs and forwards the borrower s loan application to them. Approval takes just seconds and no credit check is done.

    After the representative receives cash advance instant approval, the potential borrower is requested to submit his or her banking information. Then the money is transferred into the borrower s checking account.

    A borrower can use the online instant cash advance for anything he or she chooses, whether it is for the deposit on an apartment, the down payment on a car, for medical expenses or for a much needed get-away with the family. Instant cash advance payday loans makes it possible.

    After two weeks have elapsed, the instant cash advance no credit check lender then deducts the amount of the payday loan, plus the loan fees from the borrower s checking account. The loan fee on a payday loan is usually $15 for every $100 borrowed. If this seems a little bit high, it must be remembered that there is no credit report run on a cash advance instant payday loan. It takes seconds for approval and the loan funds are deposited into the borrower s bank account within a day. A person researching various loans and loan terms would never find the traditional lending market to be so user friendly and fast.

    The requirements for getting a payday loan are few. The borrower must be at least 18 and be a U.S. citizen with a regular job for at least six months, earning at least $1,000 a month in gross income. The borrower may also be on a fixed income, such as Social Security or Workers Compensation, and receiving at least $800 per month in order to qualify for a payday loan. Once a borrower has paid off a payday loan, more loans can be taken out from the same lender in increasing dollar amounts.

    Now people who need cash for an emergency or an unexpectedly high bill have a viable option for their borrowing needs with a cash advance payday loan .

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    How to get the best loan deal for your dream car #apply #for #loan


    #best loan deals
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    How to get the best loan deal for your dream car

    The loan math

    A loan deal becomes sweet only if there is some kind of incentive from the manufacturer or financier. Otherwise, it can be as good as any other loan deal in the market. Try and separate the loan purchase from other negotiations in order to maximise it. Even if you can’t maximise, you would know what exactly you’ve got.

    For instance, a discount offered by a manufacturer can be clubbed in the loan calculation to make the loan deal look much better. Assuming that you take a Rs 4-lakh loan at 12% interest rate for 5 years. The EMI will cost Rs 8,810. Let’s assume that the dealer has got a discount of Rs 25,000 to be offered to you. He doesn’t tell this to you but reduces it from the loan amount, making the EMI as low as Rs 8,259. Or he may also choose to tell the customer that the effective interest rate he is offering is 8.8%. A discount of Rs 25,000 doesn’t sound as lucrative as an interest rate of 8.8% in the current scenario,” says Banwari Lal Sharma, AVP, CarWale Automotive Exchange.

    Is it really a discount?

    A car dealer offers a “good” deal only under the following circumstances. First, the dealer has a huge stock of a particular car and he wants to liquidate that at any cost. Second, the dealer has service issues, which has impacted his reputation. Hence he may design attractive deals to offset its impact.

    If the dealer claims to give a good discount, you should first understand the nature of the offer. The dealer may be offering accessories, insurance, car loan etc. at a ‘discounted’ price. But it may not be the best and the lowest price in the market. “Car accessories such as music systems, Bluetooth are much cheaper in shops owned by the authorised dealers. If the dealer is giving a discount on the car cost or accessories, the dealer has already made his money by earning a good margin on accessories. Thus the dealer makes money by inflating the charges of the value-added services and the customer is usually unaware,” says Rupesh Rele, a Mumbai-based auto expert.

    Hence you should cross-check the offer not just with other dealers but also with other industry players who specialise in selling accessories, insurance or loans.

    Cash Discount the best bet

    A dealer may entice you with a cheaper loan offer which may seem half of what the banks offer. But there are chances he may build it into the cost in some other manner. “A customer should ask only for cash discount. Most dealers say they will offer a lower interest rate instead of a cash discount. That will reduce the customer’s EMI. But car buyers should not fall for this pitch. If you are paying 1 lakh as down-payment for a Rs 5-lakh car loan, ask for a cash discount on that Rs 1 lakh. Then compare the discount offers from various lenders to identify the best deal,” says Harsh Roongta. chief executive officer of Apnapaisa.com .

    Age of the car

    This is as important while buying a new car. Car sales have plunged in the past two years because of rising petrol prices and higher interest rates. Typically, dealers also offer the best discounts on these “dated” cars. But if you are looking to sell the car in 3-4 years, the manufacturing date of the car will be the sole determinant of the resale value. Let us look at two cars of the same make and sub-type. One with a manufacturing date of December 30, 2011 and the other with a manufacturing date of January 5, 2012. Both the cars have a registration date of May 2012. “The car manufactured in 2011 will be sold for a cheaper price and at a better offer than the one made in 2012. But if you intend to sell this car after 3-4 years, you will get a far lower value for the 2011-car although it is only 7 days older than the 2012-car,” says Rupesh Rele.

    Hence don’t forget to look at the age of the car while negotiating on the price and the discounts offered by the dealer.

    One rupee and free insurance

    The cheapest is not the best when it comes to insurance. You have to look at IDV (insured’s declared value), coverage of the policy and the tie-ups of the insurer before buying an insurance policy. IDV is the compensation you get in case of theft or total loss of the vehicle due to accidental damage. The IDV should not be less than 15% in the second year and 20% in the third year. Also opt for a comprehensive insurance coverage than third party liability. Compare the policy details with what the insurers offer and also the price and quotations.

    Next time a dealer doles out the ‘best’ car loan offer, do your EMI math by getting separate quotations from banks based on your loan affordability. Compare those with the dealers’ quotations. And always negotiate on cash discount. This will lower your loan amount, EMI and the interest outgo, too.


    Home loans for the self-employed (low doc) #what #is #a #loan


    #low doc home loans
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    Apply for a loan

    Essentials

    If you run your own business, you may not have the proof of income documents usually required to apply for a home loan. However, you may be eligible for a low doc loan.

    With a low doc loan, you won’t need to supply as many documents to prove your income, assets and liabilities as you would with a full doc loan.

    What information needs to be supplied when applying for a low doc loan?

    Generally when applying for a low doc loan you’ll need to provide the following:

    • A signed Borrower’s Income Declaration
    • Your registered business name
    • Your ABN
    • Your Business Activity Statements for the last 12 months.

    What’s the difference between a Westpac ‘low doc’ and standard loan?

    Whatever features are available on the standard loan will also be available on the low doc loan. As the name suggests, the difference is in the documentation you need to supply when applying for the loan and the cost of establishing the loan.

    Also, any discounts offered off the standard variable interest rate for a low doc loan under Premier Advantage Package is sometimes less than on a full doc loan.

    Packaging a low doc loan

    You can package a low doc loan under our Premier Advantage Package if the loan amount is $150,000 or more. This package provides:

    Variable rate loans

    Special offer on new loans 1

    • 1% p.a. on loans of $750,000 or more
    • 0.9% p.a. on loans from $250,000 – $749,999
    • 0.3% p.a. on loans from $150,000 – $249,999.

    Premier Advantage Package is available on Rocket Repay Home Loan, Rocket Investment Loan and Equity Access Loan.

    1. Special offer conditions

    Special interest rate discounts are only available:

    • On the standard variable rate for Rocket Repay Home Loans, Rocket Investment Loans and Equity Access Loans
    • On loans which are included in a Premier Advantage Package.
    • Special limited time offer available from 3 February 2014 which may be withdrawn or varied at any time.

    Fixed rate home loans

    • 0.2% p.a. off fixed rates.

    Premier Advantage Package is available on Fixed Options Home Loan and Fixed Rate Investment Property Loan.

    Packaging your loan under our Premier Advantage Package also offers a range of other benefits.


    Find the Cheapest Loans – Get a Cheap Loan Comparison Now #payment #calculator


    #cheapest home loan
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    UK s cheapest loans

    Everyone wants to find the best personal loans at the lowest price possible, but cheap loans are not one size fits all .

    • What are the best loans?  the best loans are usually just the cheapest loans
    • How to find the best loan rates for cheap loans know how much you want to borrow, how long for, and shop around
    • Which cheap loans are best for me? Consider how much you can afford to repay each month, the quicker you repay the less you will pay, but the larger the monthly repayments will be
    • Types of cheap loans car-loans, personal/unsecured-loans and secured loans
    • Getting cheap loans online Many loan companies operate exclusively online, this helps them cut costs and provide
    • Will my credit rating stop me getting the cheapest personal loan? your credit rating will determine your eligibility for the best unsecured loan rates

    Compare cheap loans

    Compare low APR personal loans from £1,000 to £35,000 and find the right loan for you.

    The cheapest loans are built around a set of criteria that will be different for everyone. Use our comparison tables to find a loan specialised to your needs.

    We explain how to find the cheapest loan for you with the lowest interest rate and explain what you need to know before choosing one.

    What are the best loans?

    As you can compare the cost of the loan upfront, loans compete almost exclusively on price alone, so the best loans are usually just the cheapest loans with the best loan rates.

    However, other things come into consideration to determine the best loans, such as how flexible a lender is, if you can enjoy any repayment holidays, customer service, how long the term is and how long your application will take.

    How to find the best loan rates for cheap loans

    Our personal loans comparison service can help you find the best loan rates available to you.  To find a cheap loan, we will need to know:

    • how much you want to borrow
    • how long you need to repay the loan

    From this information, our comparison service will find the cheapest personal loans for you.

    When you are looking at your results you ll want to find the low interest loans. these are the ones with the lowest annual percentage rate (APR) for the amount and repayment period you want.

    The APR takes into account the cost of interest on the loan and any set up fees or charges.

    Which cheap loans are best for me?

    A loan is a big commitment, so when you are looking for the best loan deals, as well as the APR, there are a number of other things to think about:

    • Can you afford the monthly repayments?
    • Are your circumstances likely to change in the future in a way that could affect your repayments?
    • Will the lender allow you to pay back your loan early if you want to?
    • Is there an arrangement fee?
    • Can you take a payment break or defer your loan payments if you need to?

    Compare cheap loans

    Compare low APR personal loans from £1,000 to £35,000 and find the right loan for you.

    Types of cheap loans car loans, personal and secured loans in the UK

    Broadly speaking there are three different types of loan you can apply for in the UK:

    • Personal loans unsecured loans. normally offered against your credit score
    • Secured loans loans which are typically secured against your home, these are more suitable for long term loans in the UK, with payment terms of up to 25 years
    • Car loans car loans in the UK can be secured against your vehicle, or simply a form of unsecured personal loan

    Getting cheap loans online

    It s likely than many of the cheapest UK loans are not necessarily bank loans. Online loans have emerged as cheap loan competitor in the UK in the past 10 years, meaning many of the UK s cheapest loans are to be found with online specialist companies, or even unorthodox lenders such as peer to peer loan companies.

    Will my credit rating stop me getting the cheapest personal loan?

    If you have had problems in the past, you may not be eligible for the cheapest loans as you will not meet the loan s requirements.

    Often the best loan deals are given to people with the best credit ratings – as a result the rate you’re offered may be higher than the advertised rate.

    Sometimes the lender will try and offer an alternative loan with a higher interest rate.

    The rate you’re offered will also vary depending on how much you borrow and how long you want to repay the loan over.

    Make sure you do another comparison to see if you can find your cheap loan with another lender.

    Read more…

    • Credit Unions Banks and payday lenders aren t the only places you can get a loan
    • Guaranteed No Credit Check Cards Some cards may not require a credit check
    • How To Strengthen Your Credit Rating A good credit rating will determine whether you re offered credit and at what rate