All posts in Loan

How You Can Pay off Your Mortgage FAST

Many people would love nothing more than to pay off their mortgage over the course of just a few years. However, for most, their debt is so substantial that they could never dream of paying it off early. Many people accept that they’ll have this debt for a minimum of the next 15 years. However, just about anybody can pay off their mortgage fast, you just need to be determined and focused. Read on if you’d like to learn more:

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Put a Little More

In some cases, all you need to do is pay a little bit more. Literally paying an extra £5 per month on your mortgage could cut months off your payments. A lot of people say their mortgage costs them £570 a month, for example, when in actual fact it’s £563. If you really do round it off to £570 when you pay it, it could make a lot of difference! Just be sure you won’t get charged too much for paying it off early. Many lenders charge for early payment, but you need to be sure you can afford this as well as the money you’re currently paying.

Pay Every 2 Weeks Instead

If you can put some money down on your mortgage every 2 weeks rather than every month, you’ll have made one full extra payment by the end of the year. This shouldn’t make that much difference to your finances, but it can knock 5 years or more off the time you take to pay the full amount! Not only will it knock years off the time you’re paying it back, it’ll also save you thousands in interest. This can make a huge difference, especially if you have a large property, like a 5 bedroom terraced house in Wolverhampton. Even if your home isn’t quite as large as that, paying the mortgage bi-weekly is a great little trick.

Pay Off Other Debts First

If you have other debts, like credit cards or catalogues, make sure you pay them off before you begin overpaying on your mortgage. This is because the interest rates are higher on those kinds of debts, so if you can pay them off first you’ll be saving a lot more money in the long-run. It’ll also be a huge weight off your shoulders, allowing you to focus on your mortgage and nothing else. It can truly change your life!

Make Sure You Have a Cash Cushion

A cash cushion is always advisable at any time, but especially so when you’re thinking of paying off your mortgage early.  You should make sure you have the bare minimum of 3 months of savings to live off should anything go wrong. You never know what might happen! The larger the cash cushion you have, the better position you’re in to start paying off this debt early.

Providing you’re able to free up some cash from somewhere else, you should have no problems paying your mortgage off quickly. Knowing that your house belongs to you and all you have to worry about is the bills will give you peace of mind. Good luck!

Driverless cars to change the car insurance industry?

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While the world and his wife (husband, partner etc) have been entirely focused on car emissions and alternative fuels, another technology, which could revolutionise the world of motoring, has been quietly advancing.
That technology is the driverless or autonomous car. These vehicles first came to public attention when it was announced that Google was trialling them in the US. Now a number of US states have passed legislation to allow them to drive on public roads. And it’s not only Google. Suddenly every car manufacturer is busy developing and trialing the technology. Similar trials have been conducted in the UK and according to the BBC, the UK government is determined to stay at the forefront of developments.

A crash-free future

All well and good but how does that impact the car insurance industry? Well, the thing about autonomous cars is that they don’t crash. The Google car, for example has covered 500,000 miles without a single incident: not a prang or scrape to report. That is about five average car life spans without a single ‘claim’. This is all to do with the way these cars navigate. They use lasers, cameras and GPS navigation to determine their position and look for any obstacles. Should they sense any danger, they can react much more quickly than a human driver.

And it gets better, much better. Autonomous cars don’t break the law. They don’t show off to their friends or jump lights. They can also see in the dark or fog, perfectly. They don’t speed or drive aggressively and they don’t have road rage. Furthermore, autonomous cars talk to each other and to cameras and sensors across the road network. If there is an accident or breakdown up ahead, they know about it long before any driver could see it. Any problems are avoided before they are even encountered. It is worth saying again: autonomous cars don’t crash.

Tumbling premiums

As autonomous cars spread (and they will, quickly) all of these safety benefits only get better. In the early years they will still be vulnerable to being bumped by those old fashioned human drivers but as the technology becomes standard, this risk will disappear. Very soon you could see such cars become totally mainstream, entering the used car market through sites such as webuycars.com and saturating the market. This is why the autonomous car will have a game-changing effect on the car insurance market. If cars don’t crash, there won’t be hefty claims from motorists, therefore the price of premiums should tumble.

Surely there are other factors that will ensure we still have high premiums, such as theft? Well, no. The same technology that guides the car will prevent it from being stolen. Cars will be started by biometric identification, a simple pin number or from your smart phone: it isn’t going anywhere unless you want it to. If it should move off without you, simply tap your smart phone and tell it to come home. The day of the car thief is over.

The car insurance industry as it is will not be able to live on the resulting tiny premiums. It will morph into breakdown cover and other services but the days of sky high premiums are surely numbered.

 

Understanding How to Apply For Your Loan Online

Loans have become easier to apply for, however, they are a huge financial commitment that you need to ensure you understand. Borrowing any amount of money is a serious issue, and you to guarantee that you can afford to pay it back to the lender. Whether the loan is secured on your home, or an unsecured personal loan, you need to research every factor.

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Payday Loan Borrowing Tips

Payday loans can be a wonderful option for anyone interested in quick and easy money when their usual resources are all spent. It happens occasionally in people’s lives that they simply don’t estimate the amount of money that they spend correctly, and that they end up running out of cash before they had planned to. Their paycheck is a few days away, but the money they have in their accounts simply isn’t enough to pay all their bills and still allow them to buy the things they need. Situations like these are more common than you know, and if you want to make sure that you stay safe and secure through these things then you have to turn to other sources of funding.

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Let’s do the Price Timewarp (Infographic)

Insurance is an important part of life and we are forever trying to help you to find new and innovative ways to save money on this necessity. However, have you ever stepped back and wondered how much you are spending on other everyday items? This is definitely something to take into consideration, especially with the ever rising cost of everyday living. Take a look at this English infographic that shows just how much the prices of normal items have risen in just 50 short years.

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The Top 5 Benefits Of Getting A Secured Loan

Secured loans have multiple benefits, and can be primarily distinguished from a higher risk unsecured loan. In a secured loan, the terms of repayment are set against a particular asset. In most cases this asset is a house or other property, and can also be a car or other item of high value, for more information visit GBP Secured Loans. Secured loans generally result in longer repayment schedules, and low or fixed rates of interest compared to unsecured loans. This benefit, and more, including flexibility, debt consolidation, remortgaging, and alternative secured loan agreements, are developed below:

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Finding the Right Online Loans

Online loans aren’t an uncommon thing these days, with so many lenders striving to offer their services to a wider market. Many lenders are trying to make the shift into the online world because it allows them to do so much more with so much less effort, and earn more while spending less. This online shift is worldwide and can be found in every market, not just the loan market. But with loans, the move to online services and applications is becoming extremely popular, and within a reasonable amount of time it’s safe to say that a large portion of lending will be done entirely online.

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Live Freely with a Suitable Retirement Plan

The present state of the economy has made it very difficult for the average homeowners to manage their day to day finances with their salaries. But since they have a regular source of income they can somehow manage them. But what about those who have no such source, especially the retired individuals? With their fixed resources rapidly depleting by the day, they are being driven to the edge of desperation.

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