Can you get a mortgage with a low credit score?

May 18, 2012 – 10:20 am

When it comes to getting a mortgage it is a big financial commitment.

Many people would like to get a mortgage that doesn’t cost them a fortune this may seem hard as most mortgages seems to cost small fortunes. And is even harder for people who have a low credit score, but we have ways in which you can got your mortgage and have a low credit score.

The one thing that will help you sway the lender to give you a better rate is if you offer more deposit than is required for example if they want 10% and you can afford it offer them 20% and ask for a lower interest rate on the mortgage that way they can see that you are committed and have the ability to over pay for your items.

If it is possible and fees able then you may wants to look into getting a low credit limited credit card that can help you increase your credit rating that way enabling you to get a better rate mortgage.

With these couple methods in mind you can get hold of your mortgage and get your new home or wait till the cost is more to your benefit.

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Mis Sold PPI Claims Explained

May 9, 2012 – 2:09 pm

PPI has sparked up a lot of controversy for quite a while now. It was made to protect many people from being unable to pay off their loans but has been causing more problems than it was suppose to fix. The most common problem associated with PPI was how often it was mis-sold.

What banks or lenders would do is they would attach PPI to as many loans as they can as it results in a profit for them overall. They would encourage as many people as they can to get it alongside their loan and give it to them without even checking if they are eligible for it or not.

There are even a few banks and lenders that would say it was mandatory to get a PPI reclaim alongside the loan. The worst of them all would just attach it to a loan without informing the lender about it and it would be charging them monthly for it without them even realizing it.

There are a good number of requirements before being able to qualify for PPI. It is the bank’s or lender’s duty to inform those who are interested in taking out a loan about these requirements if they are interested in getting one.

There are thousands of PPI claims today because of people looking to get their money back because of mis-sold PPI. It would be wise to check all the loans you have made in the past few years to see if you were mis-sold PPI and see how much you can get back from it.

There are nearly countless cases of mis sold PPI and it has forced the inception of several guide rules to follow concerning it. While it has caused more harm than good, PPI is still quite helpful for people who find themselves in certain situations wherein they are unable to repay their debt.

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How Much Does it Cost to Claim PPI?

June 23, 2011 – 5:32 pm

How much can a claim cost?

For our team to firstly look t your claim to see if you are entitled to make the claim it is free of charge. When accessing your claim, we will nee to write to lenders who sold you the PPI to obtain the information about the PPI policy sold to you, to be able to do this we will be charge a Subject Access Request (SAR) which is a few of £10.00 which will pay for you.

We will not ask for any upfront fees, our team operate on a no win no fee basis. So make sure you are aware of our competitors who charge upfront administration fees before they have even started the process to Claim Back PPI

If your Payment Protection Insurance claim is successful, we will charge a fee of 25% plus VAT of any amount recovered on your behalf. For example, if we obtain an offer of £1000 compensation, our fee would be £293.75 (inclusive of VAT at 17.50%).

Have you taken out a loan or credit card fro your bank? If you have then you may be one of the 2 million people who have been mis-sold insurance that you don’t need or use.

Payment Protection Insurance is there to help you cover your monthly bills if you are unable to pay them due to sickness, accident or unemployment. You may have been recommended to take out this insurance.

This sounds all good but unfortunately for many people have there PPI claims turned down due to the policy clause and exclusions. It has been estimated that there are about 20million policies currently in process, so many as 7.5 million further PPI policies have been sold every year. This has been estimated by the Office Fair Trading (OFT) The Industry make a profit from PPI policies it is estimated around 5 billion pounds being made.

Many high street banks and building societies have been fined by The Financial Services Authority (FSA) so this means that you can no claim back all the payment you have made by have mis sold PPI. But you must do it soon as your PPI claim may run out. When it has you will not be able to claim back you payments

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