Top 6 Advantages Of Student Loans

It is just a common myth that only the federal loans provided by the UK government are cheaper and easier to repay than the student finance options provided by the private direct lenders. However, if you see the APR and repayment modes, then you come to know that private student loans are the clear winner! Let’s have a quick look at the top 6 advantages of education funds offered by the direct lending companies:

Borrow Short-Term and Long-Term Funds

Whether you are looking for a big amount to complete the higher education course, or need short-term funds, to give just hostel and tuition fees; both options are easily available and you can access the required funds in less than 24 hours without facing any hurdles. You can ask the lender to transfer funds directly to your bank account or deliver to your doorstep.

No Documentation to Waste your Time

The time of a student is very precious and instead of taking stress about the cash, he should focus on studies. Direct lending companies know the importance of young generation in the development of the UK and hence they offer paper free student loans plans. You are not required to submit your last class mark sheet or the address proof.

Apply Online in Just 2 Minutes

You don’t have to bunk classes or take leaves from the college, just open your laptop or smartphone and apply for the student finance loans on any reliable direct lending website. You would need just 2 minutes to complete the online application procedure. No hard copies or soft copies are required.

Avail Funds with No Guarantor

Students don’t have a big network to arrange a guarantor. They are dedicated towards their studies and interact less with people. Arranging a guarantor is an embarrassing task for them as people are not ready to co-sign their application. They can easily access student education loans with no guarantor and no broker by applying to a reliable direct lender.

No Hurdle of Bad Credit History

Some students have bad credit issues due to pending credit card bills or some other reasons. Banks and conventional lending companies don’t entertain their funding requests. However, they can easily secure the cash by applying student loans to a bad-credit friendly lender. There are no hidden charges. You can compare various deals and grab the best one with the lowest APR.

Easy and Flexible Repayment Modes

Everybody knows that a student can’t repay funds during his education time. He doesn’t have a steady source of income. Direct lenders offer various student repayment plans that can be chosen as per comfort. You can either start repaying in installments from the next month or repay the total debt in instalments after completing your education.

The Latest Trend In Doorstep Loans

These days, individuals frequently have no opportunity to visit loan specialist’s office to apply for quick cash bolster. Henceforth they begin asking financial assistance from relatives and companions that is exceptionally humiliating. Be that as it may, no more you need to shoulder the disgrace of looking for assistance from companions for banks and facilitates everywhere throughout the United Kingdom have presented Doorstep loans. As the very name suggests, finances under this cash backing is conveyed comfortable doorstep. Additionally, the sum affirmed is all that anyone could need for all your unimportant needs that look for your moment consideration.

Until the point that a couple of years back, applying for extra subsidizes was a testing assignment as you were requested to experience repetitive customs. You were solicited to submit piles from archives. Actually, it took a very long time to finish the whole procedure. The greater part of the circumstances, when you got an endorsement, the requirement for stores was finished.

Be that as it may, things changed with online machine mode that scarcely took a couple of minutes of yours. Simply peruse pages and you will run over different banks offering moment cash backing. Because of regularly expanding rivalry among moneylenders, it has turned into a great deal less demanding for you to pick the loan specialist that offers bargains according to your need.

Render your own subtle elements on an online application frame yet ensure it is finished and exact. Numerous loan specialists may get in touch with you inside no season of applying. You can choose from bargains that suits your current needs. In the event that they are happy with your data, assets may be authorized into your bank tally and you can sue it the way you need with no confinements. From paying pending power charges, Visa charges, stockpiling charges; obligation solidification, child’s instructive expenses to traveling, meeting wedding costs and therapeutic urgencies, you can do everything.

Regardless of where you live in the United Kingdom, you will get cash comfortable home as 12 Month Loans. Assets will contact you either as cash or as a check. Loan specialists will charge financing cost contingent upon your current settled pay and reimbursement capacity. Sometimes, reimbursement residency is additionally broadened. Here, loan specialists charge extra expense for late installment. Be that as it may, paying extra sum isn’t an issue as you can dispose of every one of your inconveniences without running all over.

There is all around the energy among the general population about getting the sum specifically at the entryway with no dreary undertaking by any stretch of the imagination. What’s more, the news is valid and spread like a fire over the United Kingdom. In this way, it is awesome time for those individuals, who used to go to the entryway of the bank keeping in mind the end goal to have exchange about the loans. However, now, the time has come to desert the conventional framework for the acquisition of the earnest bucks in light of the fact that the presentation of doorstep loans UK has been influenced the impact in the finance to advertise.

In this way, the borrowers don’t need to squander their valuable time in going all over on the grounds that the sum something like 100 to 500 is specifically dispatched at the home of the candidates inside round the clock. There is no prerequisite of playing out the hassle full customs. In this way, influence a call to the appropriate loan specialist with the sensible enthusiasm to rate and get the sum as ahead of schedule as could be expected under the circumstances.

The Benefits Of Trading The Commodity Market

Like trading in the Stock market, trading in the commodity market is also very interesting. While one trades on the basis of Stock Cash Tips in the stock market, the trader can trade on the basis of commodity tips in the commodity market. ProfitAim Research is one such advisory firm, which provide both the best Stock Cash tips as well as commodity tips to the traders.
Commodity market seems to be a lucrative avenue to a lot of traders and Investors. In the Commodity market various commodities are traded and one can take benefit of the price fluctuations to trade effectively in the commodity market. Various commodities are listed on the Commodity exchange and the relative prices of various commodities are traded on the exchange. There are various benefits of the Commodity trading like a trader can make huge profits by trying to forecast the Commodity signals. The most important part of the Commodity trading is to anticipate the Commodity trading signals.
Scalping: Intraday Trading Strategy For Commodity Market
One of the important benefits of the Commodity market is that the trader can form a strategy and trade on the basis of it. The Intraday strategies like First hour strategy or scalping techniques can be followed to earn good profits from the trades. Scalping is a technique to look at the price range during the first hour of trade and then look for a breakout from this range. Thus, if the prices break from the high it’s a buy call and a rise in the prices is anticipated. On the other hand, if a breakout from the lower limit of range is observed a down trend is anticipated. Thus, scalping is an important strategy in achieving good profits from the Commodity markets.
Also, there are other strategies available like trading for small profits. In this case small changes in the Commodity signals are generally traded for the profits. Also, a large number of trades are executed to add up to large profits, this will be applicable in Stock cash tips as well. The Commodity trading signals are unassuming but still with a proper plan and a proper strategy good profits can be made through Commodity markets. The trader can also base their trade based on the advice from the advisory firms who provide free Commodity signals initially and then charge a nominal amount for their services. Thus, the Commodity trading is beneficial if done with proper planning and strategy.
Trading based on the Charts
Trading in the stock or commodity market is an art difficult to master. People use various methods and strategies to trade in the stock markets. Trading based on the charts is one of the ways out of them. Various types of charts exist like Candle Stick charts and line charts. These charts can be plotted with varying time scale. The price movement depicted by chart can be an important way of forecasting future prices.
Thus, one can trade on the basis of charts and by applying suitable indicators of the technical analysis, one can anticipate the price movement. Trading on the basis of intraday Stock Cash Tips is the other way of trading.

Sip Calculator Magnetizing The Investors Towards Online Investing

Online investing option has reached to a higher level with the introduction of SIP calculator. Making the calculation of SIP amount easy, the tool is handy to use as well. Let us understand the concept of SIP calculator with a story. There were two friends Yash and Rohan. Both had passed out college and were placed in MNCs. With the commencement of their career, they took a resolution of initiating their investment also. Yash was very trendy, and new technologies magnetized him. On the contrary, Rohan was simple and was not much of a techie. As both of them decided to invest, Yash did all the research online and also prompted Rohan to take up the online investment method. But, as for Rohan, it was not his area of expertise. So, Rohan relied on the mutual fund agent, and Yash went for online investing. When it came to deciding the amount to invest as SIP monthly both were confused. Yash took the help of an SIP calculator, and Rohan trusted the agent. But, the outcome was that Yash got the exact amount required for investment and the agent failed to calculate the precise amount and thus took an approx figure. Thus, for the same scheme Yash paid the correct amount that was required and Rohan had to pay a little more due to the inaccuracy of calculations.

The story signifies the importance of SIP calculator in the investing process, because the amount of SIP decides the corpus (the main aim of investing). Especially in the online investing the role of an SIP calculator is of vital importance. The investor advances towards being free in order to make the optimal use of their money. SIP calculator acts as a catalyst in aggravating the process investment through proper channel.

Features of an SIP calculator:-

There are a lot of features which motivates an online investor to use SIP calculator. A few amongst them are stated below:

Easy to use:

SIP calculator is an easy tool to operate on. The user-friendly approach is the striking feature of the tool. Providing an environment of smooth functioning and quick calculations, an SIP calculator in India is making online investments attain new heights with each passing day. The main reason of the increasing inclination towards online investment is the handy tool (SIP calculator), which ease out the complex calculations manifolds.

Using CAGR:

SIP calculator uses the formula of CAGR (Compound Annual Growth Rate) to calculate the returns. CAGR is the most widely accepted concept for the growth calculation of investment over a period extending one year. The calculation of CAGR is very complex and not beyond the grasping power of non-financial people. It is a mind wrecking concept and takes time to understand. But you need not worry. The CAGR calculation is simplified with the help of SIP return calculator. Paving the way for quick and easy calculations, SIP return calculator has become a defining point of online investment.

Targeting accuracy:

The goal of an SIP calculator is to provide results that are 100% accurate. But, it works on the inputs that are fed to it. Any mistake in the input data leads to an erroneous result. Otherwise, the result shows the exact and accurate outcome without the mistake of a decimal place. A perfection of that level is surely a strong feature of SIP return calculator.

Top 5 Benefits Annuities Can Bring Except The Lifetime Income

Earning a consistent income in their retirement life is a major concern for the seniors approaching their retirement and many of them invest in different annuity insurance plans. These annuities help the insured to receive a guaranteed income for life protects from the fear of outliving their savings. Also, if a senior couple hasn’t saved enough or doesn’t have someone to support after their retirement, these policies help greatly to take care of their daily expenses and maintain a better lifestyle. However, the majority of seniors isn’t aware of all the benefits an annuity can bring. Most of them buy an annuity solely to receive a guaranteed income in their retirement life but the annuities have a lot to offer. Here, we are going to explain five more benefits of a retirement annuity plan that you might not be knowing.

Benefit to your loved ones

At times, seniors pay a long series of premiums to earn them back during their retirement but die at an early age without receiving the complete benefits. Many seniors die soon after their retirement and insurance providers keep their share of investment with themselves. But, the new additional feature allows transferring the benefits to the beneficiaries, if the insured dies early. Along with the immediate annuity plan, you can choose a guaranteed period of 10-20 years that are calculated since the time you start receiving the payments. If you opt for a 20-year guaranteed period with the annuities, your insurer will provide a series of payments for exact 20 years. You can name your spouse or kids as the beneficiary and they will receive the benefits for rest of the period, in case you die early.

Tax deferral on earnings

Most of the investments are applicable for state and federal taxes, but the investments such as interests, annuities, dividends and capital gains earn a tax-deferred status. These investments are tax-free until you withdraw the accumulated amount. The tax-deferral is similar to 401(k)s and IRAs, but there isn’t any limit on the amount and you can put any amount into the annuities that you assume enough to spend your retirement comfortably. Moreover, the minimum withdrawal criteria have more flexibility than that of to 401(k)s and IRAs.

Tax-free investment transfers

Market performs differently at a different time and an investment performing strong today may perform poorly after a certain period. Hence, investors keep transferring their investment amount form one to another fund and there are financial advisors to help with the same. Usually, these investment transfers or rebalancing are applicable for taxes but the annuity retirement plan has no such tax consequences. That means, you can rebalance your investments as per your financial advisor’s suggestion and you won’t have to pay any taxes on that.

Protection from lenders

People take different types of loans to match a better lifestyle and pay the due amount in installments. At times, people reach a stage where they only have the money enough to take care of their fundamental requirements and aren’t able to pay the loan installments. In such cases, if the lender files a lawsuit, they may lose the return on the investments made. Annuities insurance policies also help protect your investment return even if you can’t make the installments. Usually, the premiums you have made to your insurance provider, belongs to them and there are laws that restrict that money to be accessed by the lenders.

Variety of investment options

Insurers help the investors with a range of annuity options at retirement including the fixed and variable one. The first one credits a certain rate of interest on the amount you deposit while with the later, your money is invested in the stock or bonds like mutual funds and provide a return based on the market performance. Also, various insurance providers have introduced different types of floors that set a limit by which your investment value may not fall further. That means, if you have invested in a variable annuity, you return won’t fall below a certain value, despite the fluctuations in the market.

Caravan Finance Advice – Questions & Answers

Here our long standing park manageress Judy Weight with 27 years experience answers some typical questions regarding finance.

We don’t have enough spare cash to buy a holiday home out-right, what finance options are open to me or am I best to mortgage?

Quite simply; No. Traditional mortgages are not generally available for this sort of purchase. If you have adequate security, for example your own house, then you may be able to get a bank loan for this purpose.

Saying that the most common ways of borrowing the cash is through a finance company, which can be done either through a caravan holiday home park like us, a caravan holiday home distributor or through a finance house.

What size loan is available to me?

Well that depends on a few variables, your credit rating, chosen holiday home price and which finance company you approach. Most set their minimum figures at £5,000 and lend up to 75-90% of the purchase price, alongside a cash deposit.

Is the interest rate fixed or variable?

It can be either, again depending on the finance company you approach and the loan you take out. With fixed rate loans the interest rate stays the same throughout the whole term of the agreement and it has the peace of mind of knowing that the repayments won’t go up. With a variable interest rate loan the rate is linked to the finance house base rate meaning that the number of repayments could go up or down as appropriate. The advantage here is that you can make lump sum repayments or pay off the loan in full at any time after the first 12 months. In either case it is important to shop around and most importantly, check the small print.

Is sub-letting a holiday home a good idea?

It can help cover some of the costs of owning a holiday home, but it is unlikely to net you a profit. If you do decide to sub-let you will get the best return by doing the administration, cleaning and maintenance yourself. Remember to make sure your chosen park allows sub letting and above all only sublet to people you know, for the sake of hiring your caravan out for a £100 a weekend, finding your holiday home wreaked makes the whole exercise pointless.

What else do I need to know about sub-letting?

Well firstly if your chosen park allows it. A lot of parks, like ourselves, do not allow sub letting for the simple fact that people who hire out a caravan just for a weekend at a time do not look after or respect the facilities or the wishes of other residents, and are more prone to breaking rules and being noisy in the late and early hours of the night. Parks that do allow it may charge them for using their facilities. You will need lots of good publicity (use a website) booking forms and effective financial control. Yearly gas and electrical tests are obituary and your caravan will have to be cleaned to a high standard after each visit. A clear cut policy (for example whether or not pet’s are allowed) and terms and conditions may be required. You’ll have to inform your caravan insurer and you may find your insurance premiums come at a higher price.

Tips For Selecting Housing Finance Company

It is often said that buying a dream home requires huge expenditure for most of the investors. Some people spend a long period of time, garnering their savings to fulfil this dream, while others opt to take a loan (credit) to fulfill this dream.

Having done your self assessment about the repayment capacity, location of your dream home, amenities and other fancies that you would like your dream home to have. It’s time for some serious exercise of selecting your HFC.

Selecting a HFC requires extreme care and proper consideration, and therefore following the under-mentioned pointer will make this exercise easier. Past record of such institutions should be properly checked as it will be a long term relationship between you and institution. Ensure that the whole task does not end up becoming a whole day headache or nightmare for you, thus prudent steps while deciding upon the financer.

1. Rate of interest

This is where it all begins. Although the rate of interest offered by most HFCs is more or less the same on paper, some degree of bargaining in most cases, leads to a lowering of rates by as much as 0.25 to 0.50 percentage points. More so if your profile happens to match the requirement of the HFC. The lowering of interest rate has a significant impact over the long term although the difference is not so noticeable over the near term. For instance, a 0.50% interest rate ‘concession’ on an Rs 1,000, 000 loans over 20-year tenure will reduce your liability by upto Rs 72,000. But care needs to be taken to ensure that the difference is not being offset elsewhere by the HFC under the guise of other ‘charges’.

One must also be careful about teaser rate offer, as they are sometimes really teasing. They benefit you for a short-term – say couple of years (till the fixed interest rate tenure), but later as floating rate starts applying they dig a bigger hole on your wallet.

2. Calculation of the exact home loan amount

Here, HFCs differ in their calculation of the loan amount to be disbursed. Some HFCs calculate the amount to be disbursed on the basis of, say, the gross salary while some HFCs calculate it on the net salary. This might make a difference to individuals as the loan amount and the EMI will vary across HFCs. One needs to look into this and get a comparative analysis done across HFCs, to understand which HFC offers the best deal. Also one should check whether the HFC is offering pre-EMI and tranche based EMI repayment option. This will help one whilst taking loan for an under construction property, as this gives them an option to pay interest only on the portion of the loan disbursed or to choose the instalments they wish to pay, till the time the property is ready for possession.

3. After-sales service

And you thought after-sales service was synonymous only with consumer durables! No – it applies to practically everything, and so also applies to HFCs. In fact, it is very crucial while choosing an HFC. An HFC can differentiate itself with excellent after sales. Take the example of post-dated cheques (PDCs). It is general practice to give 36 PDCs during the time the loan is disbursed. It is after 36 months are over that after-sales will play a role. How diligent are the HFC’s follow-ups? Are they prompt? Are reminders timely? Moreover, during the financial year-end, the HFC should be punctual in giving the borrower interest paid certificate (components of interest and principal amount paid in the financial year) so that he can file the necessary documents for availing tax benefits (under section 24b and 80C of the Income Tax Act) on home loans.

4. National presence

The HFC should be present across the country or at least have branches in all major metros and towns. This provides an individual an easier accessibility. This assumes importance if the current job of an individual is of a transferable nature (e.g. bank job, defence personnel) or if he needs to make long and frequent outstation visits (e.g. consultants, businessmen). The individual shouldn’t be put through the hassle of couriering his cheques to the home branch every time or contacting the home branch, each time he has a difficulty or a query. So it helps if the HFC is well networked across the country.

5. Prepayment / Foreclosure benefits

For many individuals, this plays a significant role in their decision to go in for a particular HFC. For example, many salaried individuals know for a fact that their salaries would be revised every year. This means that they can pay a higher EMI going forward. Some of these individuals also know that they would be getting a bonus, which they can utilise to pay off their home loan (either fully or partly). Some banks do not charge individuals for making a prepayment / foreclosing their account. Obviously such HFCs should get preference over other HFCs that do levy a prepayment charge.

6. Do your homework

Many people have a tendency to buy into ‘brands’ rather than going for what suits them best. It’s not about how big the brand is; it is more about whether that brand suits your requirements and satisfies your criteria. Make a list of your requirements first and then home in on an HFC. Talk to people who have already taken a loan from a particular HFC and get their feedback.

Other factors like documentation, processing fees, document storage facilities and time taken for processing the loan should also be considered. For example, individuals do not like it if the documentation is an irksome process; or if the processing fees are exorbitant.

Apart from this, read all the terms and conditions carefully and do not forget to take an expert advice. Therefore, instead of reading on the lucrative offers of the company, it is important to read and understand the technical aspects of the offers. So if you want to be in a win-win proposition while dealing with the Housing Finance Company, the onus is on reading the fine print in the loan document and seeing through the maze of exciting offers.

Banks Raise Interest Rates on Loans Despite Base Rate Cuts

It appears that banks are pushing up the cost of personal loans to help boost their profit margins, despite a decision by the Bank of England to cut the base rate on three occasions.

The interest rate on a loan of £5000 was up on average by 0.71 of a percentage point to 10.16 per cent, whilst the rate on a loan of £7,500 had risen by almost a full point to 8.88 per cent. This was in direct conflict with a fall of 0.75 of a percentage point in the base rate to 5 per cent.

This increasing gap between the official interest rate and the one millions of struggling consumers in the UK are faced with, has allowed banks to push up their profit margins.

Data shows that despite the Bank of England’s attempts to steady the economy in uncertain times through base rate cuts, they are failing as high street banks effectively set their own interest rate policies, independent of the recommendations from experts on the Bank’s Monetary Policy Committee (MPC).

The reckless lending in the US housing market has left the UK’s financial companies looking at ways to gather in more money from British consumers in an attempt to fund the expected huge losses they could face.

This approach has meant that banks are becoming stricter with who they are prepared to lend money to, with an estimated 1.38 million loan applicants being declined in the first months of 2008.

This policy is expected to leave millions of people in real financial trouble, trying to manage debt repayments and other bills such as mortgages, food costs and rising fuel prices.

The credit crunch has also been seen to be having an effect on the cost and availability of mortgages, credit cards and overdrafts.

A number of mortgage packages have been removed from the market, whilst the cost of a fixed rate deal rose sharply.

Interest rates on credit cards have been increased by banks, with spending limits cut and annual fees introduced. In some cases people have had their cards withdrawn.

Interest rates on overdrafts have also soared despite the cuts in the official base rate.

With the shortage of credit influencing a drop in the property market and a fall in high street sales, city analysts warn that this could send the UK spiralling into a recession.

A study by personal finance analyst website, found that interest rates on some personal loans were becoming far too expensive to manage. They discovered the highest rate on a loan of £5000 was 29.9 per cent with Citi Financial Loan, with other lenders charging anywhere between 13.4 per cent and 16.9 per cent.

The best rates were found with Your Personal Loan who offered a rate of 6.9 per cent for borrowing £5000.

Chief executive of, Sean Gardner said, “The Bank of England has a battle on its hands to restore confidence in the credit markets when lenders react to three rate cuts totalling 0.75 of a point by actually increasing rates. The unsecured loans market is almost mirroring the mortgage market where the issue is not so much rates but availability; whether or not lenders will let you have the cash.”

Leading debt counselling services have reported a sharp rise in the number of seemingly wealthy middle class families in Britain seeking financial assistance.

Base Rate Cuts Will Slash Tracker Mortgages But Overpaying Would Be Wise in the Long Run

There are a great many homeowners who have tracker mortgages and therefore they will reap the benefits of the Bank of England interest rate movements. They will save hundreds of pounds per month when it takes effect in January, as their repayments shrink after yet another cut in the base rate by 1 per cent, to 2 per cent, following the 1.5 per cent drop in November and 0.5 per cent the month before that. However, they would be well advised to resist the temptation to spend the money they will be saving, but instead, continue with the payments that they were previously paying and overpay their loan each month.

As an example, last year, a two-year tracker mortgage, at 5.79 per cent, (0.04 per cent above base rate) with Abbey for 150,000 pounds would have been almost 950 pounds; when the cut rate comes in in early 2009 this will drop by over 300 pounds to 638 pounds. The figures then speak for themselves and if the overpayments are made this will make a massive difference to your mortgage over the loan period.

Basically, you will be able to substantially reduce what the biggest purchase of your life is costing you as you will be paying off far more of the capital value of your home, which reduces the outstanding capital and as a result the amount of interest will be instantly less. This will have a massive impact on your future mortgage also.

A homeowner with a 200,000 pound tracker mortgage now at 4 per cent, who paid an extra 50 pounds extra per month, would pay off the loan almost 2 years early and shave off a staggering 10,000 pounds from a 25 year mortgage, say mortgage broker Savills Private Finance.

Melanie Bien, the Director says, ‘With the base rate slipping again, borrowers who are able to use the extra cash to plough straight back into their mortgage, and stick to it, will reap the benefits.’

The beauty of making over payments is that if your circumstances change and you find that you need the money you can revert back to your previous payment. Richard Morea of London and Country brokers, says, ‘You’ve also the flexibility to conserve your cash. If the economic climate were to change again radically, you could easily swap back to paying the normal rate.’

The urge to spend this excess money will be over-powering for many, but, if the urge can be resisted it will be very wise to do so. If you can comfortably afford to keep up the over-payments through the current economic downturn the rewards will be enormous further down the line if you need to re-mortgage. In such bleak financial times as the UK is seeing the falling base rate can be compared to a ‘golden handshake’ for those lucky enough to have a tracker mortgage which is why it is so important that it is not squandered but is used to ease future financial burden.

In Part 2 we explain how you can also use the extra money to benefit you in other ways, not just for your mortgage.


Current tracker mortgages are a god-send in the present Bank of England interest rate climate. In this, the second of a two part article, we explain how to make this money work hard for you.

Base Rate Cuts Will Slash Tracker Mortgages But Overpaying Would Be Wise In The Long Run – Part 2

Better rates in the future

Due to the credit crunch another benefit of overpayment has come to light. Lenders are wary, credit has dried up and there is extreme caution in the UK housing market.

Overpayment reduces LTV (loan to value) which is the ratio of mortgage debt against house market value this qualifies you lower rates when re-mortgaging.

This will only affect those with a current tracker with a low ‘margin’; margins have been increased for new borrowers. Nationwide offer a 2 year tracker at base rate plus 2.19 per cent if you have a LTV rate of 75 per cent.

When is it best to overpay?

Try to establish when your mortgage interest is worked out, if daily, as with many lenders, then your overpayment will have immediate affect on the calculation, but, if it annually, quarterly or monthly time your overpayment to be made when the calculation is made.

When interest is calculated on an annual basis pay overpayments into a high interest, easy access account and then transfer this payment into your mortgage just before the interest is calculated.

Be careful however, to not pay any more than 10 per cent of overpayment in a calendar year as most lenders will make an early repayment charge which could be as much as 2 per cent of your loan.

Reduce or pay off debts

If anyone has expensive store card or credit card debts these should be paid off before much lower rate mortgages.

Frances Walker at Consumer Credit Counselling Service (CCCS) warns, ‘If you’ve got plastic debts at 18 per cent, use the spare cash to get rid of these instead.’

The same rule of priority applies if you’re planning to use the extra cash to beef up your savings.

Invest in your savings

The same prioritisation should apply here. Michelle Slade at financial analyst Moneyfacts says, ‘If you overpay on your mortgage, and then lose your job there’s no way of getting that money back. Lenders won’t take that [the months of overpayments] into account if you then struggle to pay your mortgage. A general rule is that if your mortgage rate is more than the savings rate after tax, then it’s worth paying off your mortgage – and the reverse is true.’

Most penalty-free, high-paying accounts with instant access are all around 5 so people with trackers may think it would be more prudent to save especially if they may also want a mini-cash Isa with its tax-free status further boosting returns.

Top up your pension

If you put an extra 50-200 pounds a month into your pension you could boost it by tens of thousands of pounds during your working life according to Hargreaves Lansdown, independent financial advisors.

Paying an extra 100 pounds monthly, over 5 years into a work-defined or a personal pension would generate 6,982 pounds estimated on an annual growth rate of 6 per cent.

Lead You To The Authentic Zone Of Money Transfer

If you have an international business and you have to move to many countries for the purpose it is the urgent requirement to find a reliable and efficient money transfer service. Business with any other country will require a resourceful money transfer. This transfer should be fast efficient and safe. Your trade shouldn’t be forced by the variation in exchange rates either. For all these reasons, it is prudent to take the assistance of International money transfer Services available. It will be better to find the reputed and quality one on the internet. It is an internet era and you get different types of information on the internet.
Process Involved
This service helps you find a provider that you are comfortable with. After you decide on the money exchange provider you will need to complete some forms. Once you have established contact, you will be informed about the rules, terms and conditions involved with a deal. Finally, you will be asked to complete some forms to set up your account. You can fix a standard rate for your exchange as well. The whole process is hassle free and once you learn how to go about it, the upcoming transactions will be smooth, effortless and quick.
Exchange Rates
When you wish the inexpensive currency transfer to be done, you should be careful about the rate you choose. With large amount of money a little change can make a big variation for your commerce. When you transfer your money to a bank, they will transfer it at a great exchange rate that you are happy with on the day you have mentioned. Exchange rates promised may differ between agencies that are why you should be careful while choosing one.
Staying in the circle
Most good free currency transfer companies will make sure you are kept in the circle about where your money is. When the transaction is being made, you will be sent a verification message and sometimes even a message. You will be consulted before and after the deal, which assures that nothing can go wrong with the deal. This feature gives you more control over your money.
Expediency and safety
Foreign Exchange is a very expedient way of sending money across countries. When you choose a reliable company, along with good customer service, you will also safer transferring your money. This service is as useful for the common man as it is for businesses. Having an overseas exchange agent working for you is an immense way of saving money. In some websites, you get to check the exchanging rates promised before you sign in to transfer money. This makes it easy for you to select the best in the record.
Currency Exchange near me, this thought is quite wise and intelligent as there is lower risk for the safety of your cash. If you are in Adelaide, you can find a good currency exchange company that has a strong team for a powerful deal of money transaction. A reputed and trustworthy company always offers the better rates and a higher security.