Finding an auto loan with bad credit.Written by N Hynes
Finding an auto loan online is easy regardless of you credit score. By simply completing a simple one page application hundreds of online lenders who will compete for your loan business. There are certain guidelines you should follow which could help you save money on a car loan even with poor credit. Careful planning, comparison shopping and persistence are necessary to find best deals.
Firstly you need know how much you can afford to spend on monthly car payments. Use one of many online loan calculators to help you with this. Then it's just a matter of shopping around to get best interest rate. The internet has made it easy to shop around and compare rates because you can compare rates with hundreds of lenders from one site. You can compare traditional lender such as banks, credit unions, etc. The lower interest rate more you will have available to spend on your car. You will also have to decide term of loan.
Mortgage sales hit problemsWritten by Richard Green
The housing market has been buoyant over past few years, but mortgage providers and first-time buyers are both now facing a tough time. Following announcements from Bank of England that there has been an overall decline in total number of UK home-buyers, and a declaration from Financial Ombudsman Service (FOS) that number of disputes concerning mis-sold mortgage endowments has now hit record levels, it seems that mortgage lenders are facing a bleak time. Add to this results of a new survey, by Edinburgh Solicitors Property Centre, which shows potential first-time buyers fear that they may never get onto property market, and you start to see a worrying picture of housing market emerge.
The problem with mis-selling of endowment mortgage products has recently made headlines in world of personal finance. The FOS admitted receiving 70,000 new complaints about endowment mortgages, equivalent of 1,300 a week, compared to just 300 a week three years ago.
The main grounds for complaint revolve around people who believe that mis-selling had occurred regarding policies. Many consumers feel that endowment product sold to them was unsuitable either because it would lead to financial short-falls, or because level of risk involved had not been adequately explained to them prior to policy commencing.
The sheer scale and number of complaints has lead to changes in regulations and imposition of deadlines for lodging complaints.
"The number [of complaints] we can expect to receive in current year will largely be determined by how financial services firms meet new regulatory requirements on so-called re-projection letters. Most of these letters will warn of likely mortgage shortfalls and many will give, for first time, an explicit deadline by which any complaint must be lodged.", Walter Merricks, chief ombudsman. The situation is no better for first-time buyers either. Forming a significantly important sector of house buying market, a recently published study from GMAC, financial subsidiary of General Motors, carried out by Professor David Miles, who was originally commissioned to investigate mortgage market by Chancellor Gordon Brown, has found that dramatically fewer first-time buyers than ever before are currently entering into housing market. A report from mortgage lender, Abbey, highlighted that main concern for first-time buyers is not a lack of desire to buy their own house, but rather a fear over whether they feel they can afford to do so. Just over a third of potential first-time buyers in survey, indicated that they wanted to buy a home within next year, however only 5% were confident that they would actually be able to.