Loans Guide

by: John Mussi

Many people are confused by the different types of loans available.Here is a helpful summary of the most common loans available today.

Bad Credit Personal Loan

A Bad Credit Personal Loan is a loan designed for the many people with a bad credit rating. However created, your past record of County Court Judgements, mortgage or other loan arrears can live on to deny you access to finance that other people regard as normal. If you are a home owner with equity in your property, a Bad Credit Personal Loan can bring that normality back to your life. Secured on your home, a Bad Credit Personal Loan can give you the freedom, for example, to do the home improvements or buy the new car you really wanted. With a Bad Credit Personal Loan you can borrow from '£5,000 to '£75,000 and up to 125% of your property value in some cases.

Bridging Loan

A bridging loan as the name implies is a loan used to "bridge" the financial gap between monies required for your new property completion prior to your existing property having been sold. Bridging loans are short term loans arranged when you need to purchase a house but are unable to arrange the mortgage for some reason, such as there is a delay in selling your existing property. The beauty of bridging loans is that a bridging loan can be used to cover the financial gap when buying one property before the existing one is sold A bridging loan can also be used to raise capital pending the sale of a property. Bridging loans can be arranged for any sum between '£25000 to a few million pounds and can be borrowed for periods from a week to up to six months. A bridging loan is similar to a mortgage where the amount borrowed is secured on your home but the advantage of a mortgage is that it attracts a much lower interest rate. While bridging loans are convenient the interest rates can be very high.

Business Loan

A business loan is designed for a wide range of small, medium and startup business needs including the purchase, refinance, expansion of a business, development loans or any type of commercial investment. Business loans are generally available from '£50,000 to '£1,000,000 at highly competitive interest rates from leading commercial loan lenders. A business loan can be secured by all types of UK business property, commercial and residential properties. Business Loans can offer up to 79% LTV (Loan to Valuation) with variable rates, depending on status and length of term. Business loans are normally offered on Freehold and long Leasehold properties with Bricks and Mortar valuations required. Legal and valuation fees are payable by the client.

Car Loans

The main types of car loans available are Hire Purchase and Manufacturer'’s schemes. Hire purchase car finance is arranged by car dealerships, and effectively means that you are hiring the car from the dealer until the final payment on the loan has been paid, when ownership of the vehicle is transferred to you. A Manufacturers' scheme is a type of loan that is put together and advertised by the car manufacturer and can be arranged directly with them or through a local car dealership. You will not be the owner of the vehicle until you have repaid the loan in full, and the car will be repossessed if you default on repayments.

Cash Loans

Cash Loans also known as Payday Loans are arranged for people in employment who find themselves in a situation where they are short of immediate funds. A Cash Loan can assist you in this situation with short term loans of between '£80 and '£400. Loans are repayable on your next payday, although it is possible to renew your loan until subsequent paydays. To apply for a Cash Loan you must be in employment and have a bank account with a cheque book. A poor credit rating or debt history is initially not a problem.

Debt Consolidation Loan

Debt consolidation loans can give you a fresh start, allowing you to consolidate all of your loans into one - giving you one easy to manage payment, and in most cases, at a lower rate of interest. Secured on your home debt consolidation loans can sweep away the pile of repayments to your credit and store cards, HP, loans and replace them with one, low cost, monthly payment '– one calculated to be well within your means. With a Debt Consolidation Loan you can borrow from '£5,000 to '£75,000 and up to 125% of your property value in some cases. It can reduce BOTH your interest costs AND your monthly repayments, putting you back in control of your life.

Home Loan

A Home Loan is a loan secured on your home. You can unlock the value tied up in your property with a secured Home loan. The loan can be used for any purpose, and is available to anyone who owns their home. Home loans can be used for any purpose such as, home improvements, new car, luxury holiday, pay of store card or credit card debt and debt consolidation. With a Home Loan you can borrow from '£5,000 to '£75,000.

Home Improvement Loan

A Home Improvement Loan is a low interest loan secured on your property. With a Home Improvement Loan you can borrow from '£5,000 to '£75,000 with low monthly repayments. The loan can be repaid over any term between 5 and 25 years, depending on your available income and the amount of equity in the property that is to provide the security for the loan. A Home Improvement Loan can help you with a new kitchen, bathroom, extension, loft conversion, conservatory, landscaping your garden or new furniture. You can even use it on non-house expenditure like a new car or repaying credit card or other debts.

Home Owner Loan

A Home Owner Loan is a loan secured on your home. You can unlock the value tied up in your property with a secured Home Owner loan. The loan can be used for any purpose, and is available to anyone who owns their home. Home owner loans can be used for any purpose such as, home improvements, new car, luxury holiday, pay of store card or credit card debt and debt consolidation. With a Home Owner Loan you can borrow from '£5,000 to '£75,000.

Payday Loans

Payday Loans also known as Cash Loans are arranged for people in employment who find themselves in a situation where they are short of immediate funds. A Payday Loan can assist you in this situation with short term loans of between '£80 and '£400. Loans are repayable on your next payday, although it is possible to renew your loan until subsequent paydays. To apply for a loan you must be in employment and have a bank account with a cheque book. A poor credit rating or debt history is initially not a problem.

Personal Loan

There are two categories of personal loans: secured personal loans and unsecured personal loans '– See individual titles below. Homeowners can apply for a Secured personal loan (using their property as security), whereas tenants only have the option of an unsecured personal loan.

Remortgage Loan

A remortgage is changing your mortgage without moving your home. Remortgaging is the process of switching your mortgage to another lender that is offering a better deal than your current lender thereby saving money. A remortgage can also be used to raise additional finances by releasing equity in your property. You can borrow from '£25,000 up to '£500,000. Rates are variable, depending on status.

Secured Loan

A secured loan is simply a loan that uses your home as security against the loan. Secured loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured loan; or, have a poor credit history. Lenders can be more flexible when it comes to secured loans, making a secured loan possible when you may have been turned down for an unsecured loan. Secured loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime. You can borrow any amount from '£5,000 to '£75,000 and repay it over any period from 5 to 25 years. You simply select a monthly payment that fits in your current circumstances.

Secured Personal Loan

A Secured Personal Loan is simply a loan that is secured against property. Secured personal loans are suitable for when you are trying to raise a large amount; are having difficulty getting an unsecured personal loan; or, have a poor credit history. Lenders can be more flexible when it comes to Secured personal loans, making a Secured personal loan possible when you may have been turned down for an unsecured personal loan. Secured personal loans are also worth considering if you need a new car, or need to make home improvements, or take that luxury holiday of a lifetime. You can borrow any amount from '£5,000 to '£75,000 and repay it over any period from 5 to 25 years.

Unsecured Loan

An unsecured loan is a personal loan where the lender has no claim on a homeowner's property should they fail to repay. Instead, the lender is relying solely on the ability of a borrower to meet their loan borrowing repayments. The amount you are able to borrow can start from as little as '£500 and go up to '£25,000. Because you not securing the money you are borrowing, lenders tend to limit the value of unsecured loans to '£25,000. The repayment period will range from anywhere between six months and ten years. Unsecured loans are offered by traditional financial institutions like building societies and banks but also recently by the larger supermarkets chains. An unsecured loan can be used for almost anything - a luxury holiday, a new car, a wedding, or home improvements. An unsecured loan is good for people who are not homeowners and cannot obtain a secured loan for example; a tenant living in rented accommodation.

Unsecured Personal Loan

An Unsecured personal loan is a personal loan where the lender has no claim on a homeowner's property should they fail to repay. Instead, the lender is relying solely on the ability of a borrower to meet their loan borrowing repayments. The amount you are able to borrow can start from as little as '£500 and go up to '£25,000. The repayment period will range from anywhere between six months and ten years. An Unsecured personal loan can be used for almost anything - a luxury holiday, a new car, a wedding, or home improvements. An Unsecured personal loan is good for people who are not homeowners and cannot obtain a secured loan for example; a tenant living in rented accommodation.

You may freely reprint this information on your website provided the following caption remains intact.

"This information courtesy of http://www.directonlineloans.co.uk Click here to see full range of loans."

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available online secured loan via the http://www.directonlineloans.co.uk website. To find a loan that best suits your needs visit http://www.directonlineloans.co.uk.

info@directonlineloans.co.uk

How to Find the Best Loan Deals Online

So you’re looking for a good deal on a loan and are not certain where to start. First, take heart, most online user are finding they have the same challenge. But you’ve probably made the best discovery in your financial research to date. You’ve stumbled upon, not a lender or lending marketplace. But a lending resource offering a no tricks no hitch objective approach to finding bargain loan deals online.

Tips Toward Finding Your Best Loan Deals
What’s the difference between a lending marketplace and lending resource. We provide you with information lenders usually avoid bringing up. We provide you with do’s and don’ts, pros and cons, tips and alerts to finding the most reasonable loan offers available in the financial industry. For example, how to shop low rates? How to find a good lender? Is this a good time to refinance? What will the rates look like in the immediate future? What’s a reasonable fee charge? How do credit scores impact my loan? If rates are cut or go up, how will this affect my loan payments? How do I calculate what my payments will be at a given rate? These insightful financial tips will fortify you with enough know how to make competent financial decisions to get the loan that’s right for you.

Loan Shoppers Save Time And Money
But that’s not all. One of the biggest dilemmas facing a low rate loan shopper is where to go to actually shop loan rates. Lending marketplaces is the answer. Why? In two words, Time and money - you save a lot more of it. You fill out one application. Your application is matched to several lenders seeking to win your business in a highly competitive lending auction house. These will try to match or beat other lender offers you’ve received from the lending marketplaces listed below and leave you with the better deal. You’ll save time making phone calls one bank, credit union and lending office at a time as most of these lending marketplaces offer online reports of lenders seeking your business. You select the best loan offer. You get the best deal.

Consumer Rated Lending Marketplace
We’ve reviewed hundreds of lending marketplaces online and have created a list of the best loan shopping centers based on our own customer service satisfaction criteria, consumer response using our user friendly shopping console, intuitive and comprehensive tools and rate watch program. Each lending marketplace is listed according to how it is rated.


To get started read selected tips and guides you have questions about. Then select any or all of the lending marketplaces below. Fill out each marketplaces loan request application indicating desired rate where appropriate.

Financial Advice for Newlyweds

If you don't know where you're going, you'll probably end up somewhere else

by Peter Bohush

They say money can't buy happiness -- but it can sure mess it up. Especially when it becomes the topic of disagreement between a husband and wife.

Harmony and understanding probably won't happen by themselves. So couples should set aside some time to discuss their philosophies and goals about money -- how much you want, how you want to use it and how to make it part of your happy marriage.

While many of us would love to have the problem of too much money, most of us, particularly newlyweds, will feel that there's never enough money. That's why it's so important to manage it well.

Discussing your finances before and during marriage boils down to two questions: "How much do we have?" and "What are we going to do with it?"

Before you say your wedding vows, while the two of you are still thinking about important wedding-planning choices such as chicken or beef, band or DJ, garden or banquet reception, take time out for this little quiz. You can call it, "Our Little Discussion About Money That Will Keep Us Happy When We're Married."

We guarantee it will at least be more fun than listening in on a Federal Reserve Board meeting, and may actually get you talking openly and honestly about money. And that's a good thing.

Where is each of you on the fiscal policy scale?

This can also be thought of as, which of us likes to spend money and which likes to save it? Often in a couple, one has a more liberal approach to money (the Spender) and one a more conservative approach (the Saver).

Studies have shown that denying the Spender the ability to spend may result in temporary crankiness. But denying the Saver the means to save will result in a really angry Saver, and could lead to the Spender spending a lonely night on the couch.

Some couples get along just fine when both have the ability to spend and save. Some divide up the bill-paying duties. Some put one person in charge and the other happily lives off an allowance. Since this is a lot like the old days of living with Mom and Dad, it may encourage one of you to do more chores around the house, like mowing the lawn, cleaning the bathroom or doing the dishes to get an increase in your allowance.

Actually, finances in marriage should be like doing the dishes: both should participate. So decide early on who will wash your money, and who will dry it. And try not to leave your dirty money in the sink overnight.

The point here is to decide -- as a couple -- how you will control your finances.

What do you want in life?

This is not about sociopolitical goals, such as international peace and harmony, world domination or making assistant manager someday. Career goals are important, and you should both believe in and support each other's dreams. But you also should determine, on a regular basis, what you want to save money for.

You may want to someday buy a house or condo or double-wide trailer. A new Mazda Miata may be your big goal. Unless you're expecting to win it on Wheel of Fortune, you'll have to set aside money for the monthly payments.

If you are planning on having a family, remember that children are like monetary black holes, sucking up every dollar you make for food and clothing, ear infection antibiotics, Disney videos, Teletubbies lunch bags, Pokeman cards, college tuition, weddings, cars and bail money.

And whatever your age now, you should be thinking about retiring with enough money to take the exciting trips you'd like to, even though by that time you may not be able to make it to Mount Rushmore without stopping ten times to use the rest room.

At the very least, plan to save enough money for retirement needs such as housing, heat and dropping by the buffeteria once a week or so for the Swedish meatball senior special. Believe me, if you end up in your old age having to empty your penny jars to buy your Viagra, you'll wish you had planned your finances better instead of blithely spending it all on Goo Goo Dolls memorabilia at eBay.

Buget, budget, who's got the budget?

Once you agree on what you want to save your money for, you'll need a budget to tell you how much money to set aside every month, and where to put it.

An old saying tells us that rich people save their money and spend what's left, while poor people spend their money and save what's left. If saving becomes your first priority, you'll be more successful at achieving your long-term financial goals.

So agree on how much you'll put aside with every paycheck, and don't touch it except for emergencies or to use it for its purpose, such as a house down payment.

Write this budget down. Make a spreadsheet or a PowerPoint presentation and call a meeting. Make your cases, take a vote and record this in the minutes. Draft some bylaws. You'll stick to it better if it's been documented somewhere. Make a penalty for early withdrawal, something really painful such as no ER for a year, or giving up those season tickets for the World Wrestling Federation super grudge matches.

Only you can determine what your investment deposits will be. Conventional wisdom states that couples in their 20's or 30's should set aside at least 10 percent of their earnings for investment; while those in their 40's or 50's need to set aside up to 20 percent to achieve sufficient results.

Where should we put our money?

Actually setting your money aside, like next to the La-Z-Boy recliner, is not good enough. You must invest your money if you want it to grow. Leaving it in your bank savings account, at two percent interest, won't result in enough growth to buy a cheap leisure suit for your retirement party. You've got to make your money work for you, and that takes work on your part.

There is no shortage of places to invest your money. The stock market has been on its largest and longest rise in history. No one knows how long this will last. Maybe it will go on upwards forever. Maybe not.

You can invest in companies in the U.S. and in practically every other country in the world. The farther you stray from home, the more volatile the markets can be. They often don't play by the same rules as in the U.S., and are more likely to be impacted by government policies and shifts in power.

You can invest in things you think will increase in value over time. If you know what you're doing, this can pay off. But you'd better like what you're collecting, because you could end up with a lot of it.

Interest in collectibles tends to wax and wane. While Beanie Babies had an initial run up in value, they soon fell faster than a tall guy on an icy sidewalk. Pokemans may seem like a sure bet, but keep in mind that there are a lot of people with boxes full of Pogs and Franklin Mint Gone With The Wind collector's plates wondering when their ship is going to come in.

Some rare coins can be worth thousands of dollars, others end up only good enough to drop into a soda machine. Same thing with stamps. Maybe a couple of them achieve superstardom in the world of numismatists, but an awful lot of people will end up sticking that supposedly valuable Elvis Presley stamp onto their electric bill envelope.

Stocks, bonds or Internet IPOs?

Financial planning experts haven't wavered from their age-old advice: the best way to build wealth is to invest some amount of money regularly in a balance of stocks and bonds, and just keep at it. Over time you will weather the ups and downs of the markets and individual stocks, and will end up with steady growth ready to be harvested at retirement time.

Then, of course, you might be able to do this harvesting all in one day by investing in the initial public offering (IPO) of an eBay, Netscape, Amazon.com or another amazing success story, right? Over the past two or three years, stocks of new companies have launched at $10 to $15 per share and shot up many times that on their first day of trading.

You may have wondered, how can I cash in on this? The answer is, you probably can't. Those who were able to buy these hot stocks at their opening, cheap prices were, for the most part, large investment houses or institutional fund managers. By the time average Joes and Marys were able to buy, the prices had often peaked. So while Gargantuan Capital counted their bazillions from buying low and selling high, Joe and Mary were left to cry about the difference between what they paid for the stock and what it was worth after it slid back down to reality. Little guys usually finish last in the game of big-time IPOs.

Online investing websites have made it easier for millions of people to try out the stock market. It's helped people become more educated in the process of investing, and created more interest in actively investing. Some people have been rewarded, and some have made poor choices and suffered from it.

Rule of thumb: slow and steady wins the race. It's wise to talk to a professional financial planner before you open that eTrade account. He or she can point out other investment issues you should deal with, such as life insurance and taxes.

Are you diverse?

Diversification is important, too. This means investing in different things, spreading the risk, so if one investment tanks you don't lose all your money. It's a lot like laundry, where some of your clothes are in your dresser, some in the closet, some in the laundry basket and some in the washer.

It's bad enough to lose a few socks in the dryer. But what if you washed all your clothes at once and the guy locked up the laundromat while you went next door to buy a soda? You'd have no clean clothes to wear to work the next day. How would your boss react if you showed up to work in your torn jeans and that old college sweatshirt with the sleeves cut out? Not a good feeling, and simple to avoid.

Don't put all your eggs in one basket. Don't put all your clothes in one Maytag. And don't put all your money in one investment, no matter what your friend Morty tells you about that hot new biotech company with a cure for hairy knuckles. Give a little, spread out the rest.

Do you believe in magic?

Long-distance runners often talk about the "high" of near-ecstasy they feel during a marathon jog. Big-league baseball players speak of the "zone" they get into when time seems to stand still at the moment their bat connects with the ball and they just know that baby's going out of the park.

Financial planners reach their own rapture, too, when they stand up before a crowd and describe the "magic of compound interest." It's practically nirvana for them to show how a 21-year-old who invests $2,000 per year for eight years at 10 percent interest sees it become $707,028 in 36 years through the magic of compound interest.

Pausing only long enough to disclaim that these are hypothetical examples and your success cannot be guaranteed, the advisors will amaze you with transparencies on the overhead projector showing nearly every conceivable investment plan and how they can magically compound to near riches.

The strange thing about all this is, it's true. Investments really can and do compound, building upon themselves and growing like the Blob until you're left with that wonderful dilemma called, "what do we do with all this money?"

"Aha!" you'll exclaim. We know what to do with it. We'll use it for the things we planned for at our first shareholders meeting! Hakuna matata! The great circle of life has come back around.

A little planning can go a long way. Far enough to get you all the way to where you want to go.

- 30 -

Peter Bohush
WriterDirector.com
P.O. Box 689
Northboro, MA 01532

How to Make Tax Time Less Taxing

By Douglas Charney

Since 1913, when income taxes were first imposed, April 15 has probably become the most dreaded day of the year for most adults. This is not just because it’s the day when federal (and state) income tax returns are due. It’s also because getting ready to file your return – whether you do your own return or hire someone to do them for you – can be a time-consuming and often aggravating chore. So here are some things you can do to help make tax time less taxing in the future.

I believe you can work to reduce the burden of tax time from two different directions. First, you can form good recordkeeping habits to make tax preparation easier. And second, you can select investment strategies that may potentially reduce your tax bill. In this article, we’ll discuss ways to make tax preparation easier.

Accountants and other professionals involved in tax preparation will generally tell you that the best way to reduce time, aggravation and expense of actual tax preparation is to keep good records. If you haven’t kept good records in the past, resolve to start today for your next return.

As January rolls around each year, various institutions begin to send you reports they have to give you and the IRS (W-2, 1099-Dividends, 1099-Interest, and so on). Establish a file folder for your tax data and put all of these items into the folder as they come in. Doing so can help you avoid misplacing something that the IRS will definitely receive and will look for in your return.

You’ll need additional information for preparing your taxes, and keeping good records along the way can make tax time easier and less frustrating. It can also make your return more accurate and help you back it up in case of an audit.

Start a file system where you can keep statements, transaction receipts for purchase and sales of securities, and other paperwork about your investments. If you keep them up to date, these files will contain much of the key information you’ll need at tax time. However, for convenient reference, you may also want to use a notebook to record purchases and sales of securities (dates, prices and costs/proceeds), CDs on deposits at banks (with account numbers) and other investment data.

Various institutions will report income and what are known as “gross proceeds” from sales and redemptions, but they don’t report information such as what you paid for an investment – it’s up to you to provide the IRS with that information.

Whenever you sell an investment, whether it’s real estate, stocks or bonds, the IRS wants you to report your profit or loss on the transaction. To calculate this, you will need your records showing when you bought the item, what you paid for it (this is called your “cost basis” or “basis”), what you sold it for and your net gain or loss.

If you use a dividend-reinvestment program for some of your securities, it is especially important to keep good records. Be sure to save the final year-end statements, which show all investments for each year. All the reinvested dividends, which you are taxed on each year, are added to your basis. They affect the capital gain or loss calculation, and thus the taxes you may owe, at the time you sell the security.

For example, say you originally paid $5,000 for a utility stock, and over the years you reinvested a total of $7,000 in dividends. If you sell the stock for $15,000, you owe capital-gains taxes on only $3,000 not $10,000. This is because your basis (the total amount you paid for what you eventually sold) is $12,000 ($5,000 plus $7,000) – not $5,000.

If you form some good “housekeeping” habits, early in the year, and you start to assemble the information to do your taxes, you’ll find it all in one place. And when you arrive at your accountant’s office with this information ready for entry onto the tax forms, you’ll be an appreciated client.

This article is provided by courtesy of Douglas Charney with Wachovia Securities in Harrisburg, PA. He welcomes your comments, and you can reach him at 888-529-2973.