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General Comments in general
Newest Review: ... a sensible question, of course, and one that people should consider more seriously. Often, we only think about short-term affordability. We may feel that that we can make repayments this month and next month and the month after, but how sure are we that we'll still be in a position to do so this time next year? We assume we're not going to lose our jobs, fall ill, or get divorced, and that nothing will stop us from being able to repay what we've borrowed. Besides, we obviously want that new kitchen or holiday or car now, so we go for it anyway. Is it the right decision, though? 2.Read the small print before signing Aaaargh! We can't thi... more |
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General Comments in general: If you have to borrow , Do it after some thought!! (722 words)
by bkrajiv - written on 06.10.04 (Very useful, 43 readings)
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While I agree with consumer groups and government lobby groups that the financial services industry needs to learn a few lessons about responsible lending, I would suggest that, ultimately, it is still the consumer who has to sign on the dotted line whenever he( not being sexist!!) wants to borrow money. In essence, let us think about not onlyu the short term situation but the whole picture. Of late, we have been reading in the papers of how people commited suicide due to excessive borrowing, this is saddening but where are we going wrong as a nation? Not only do people need to think carefully before borrowing or buying on credit, they also need to ...
Endowment? No, Try an ISA Mortgage instead (2137 words)
by FORCHARITY - written on 18.10.02 (Very useful, 198 readings)
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Currently, eight million homeowners have mortgages that depend on an Endowment Policy to pay off their loan. But Insurance Companies now reckon that up to five million of these policies might not grow enough to clear the mortgage after 25 years. In my opinion, if that is what the Insurance Companies reckon, then I conclude that the true figure will be much higher. Even where the policies may pay off the debt, then I guess this will be for those policies taken out, say over 20 years? ago and where the home-owner had been anticipating a large surplus from the policy in addition to the receipt of sufficient capital to pay off their debt. It is of course ...
General Comments in general: Is saving £££thousands right for you? (1878 words)
by opinions4u - written on 07.09.02 (Very useful, 159 readings)
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Remortgages Remortgaging is the concept of moving your mortgage from one lender to another, without moving house. There can be a range of reasons for remortgaging. The most common reason is simply to switch to a more competitive rate. The majority of lenders will offer incentives and discounts to tempt you to switch over to them. Another reason is to raise capital for home improvements, debt consolidation, or any other reason you care to mention. It is possible to combine lower rates with additional borrowing and keep your monthly payments the same. Other growing causes of remortgage are marital / relationship breakdown ...
