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5 Ways To Fix Your Family Finances
1. Pay less on your mortgage
Many borrowers will soon come to the end of the special offer period on the mortgage they took out a few years ago. When that period ends your lender will probably move you onto their Standard variable Rate and in the current climate this could be realtively very expensive compared to the original deal. The answer is to remortgage. In much the same way as shopping around can locate cheap loans, finding a cost effective remortgage solution requires a little effort.
- Mortgages. Higher Lending Charges are outrageous.
- Higher Lending Charges are often charged if your mortgage is 90% or more of your property's value. We think the charge is a form of profiteering by the lenders and should be abolished. This article explains why.
- Interest Only Home Loans
- An introduction to the workings of an interest only mortgage.
- Mortgages. First time buyers let down by the governments Homebuy scheme.
- At this stage, the Governments Homebuy mortgage scheme for firsttime buyers seems a waste of time. This article explains why.
- Getting the Best Mortgage Loan With a Bad Credit Rating
- Sorting a mortgage out can be stressful, especially if you have a poor credit history. This article provides some useful advice
- Buy to let – a change for the better
- Do you own a buy-to-let property? There are some proposed new rules regarding tenancy agreements. Find out more. Buy to let – a change for the better
- Mortgages. The pitfall of Interest Only mortgages.
- Interest Only mortgages have become increasingly popular. Why, and what are the concerns?
Most mortgages allow borrowers to repay up to 10% of their mortgage debt without penalty. If you have any spare cash use some of it to reduce your mortgage.
2. Pay less for your Credit Card
If you run an outstanding balance on your credit card it will be expensive. Do not pay more interest than you need to, by paying off balances as quickly as possible. Even look into taking out cost effective personal loans if the sums add up. Another option is to take out a new credit card with a 0% Balance Transfer deal. Many of these arrangements are designed to look attractive on first impressions but they can carry restrictive clauses which may not suit everyone. Understand before you sign up. Just like renewing motor insurance, credit card deals are all over the place and offers change daily. But be quick - fewer cards now offer these dealsif you see agreat deal then act fast as something good is unlikely to stay around too long. Did you know multiple car insurance quotations can be obtained from a single website these days, saving renewers from hours of repeated phone calls to multiple insurers.
Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it. Security by way of a charge on your home may be required.