Credit and Loans

Happy Birthday Buy To let

Happy Birthday Buy To let

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This summer marks the Tenth anniversary of the buy-to-let mortgage. In July 1996 Mortgage Express (part of the Bradford & Bingley group) were the first to trial a dedicated buy-to-let mortgage product, and currently has a market share of approximately 20 per cent.

Buy-to-let mortgages evolved after new legislation within The Housing Act gave landlords more power to evict tenants who were not keeping up with their rent. In September 1996, the Association of Residential Letting Agents (ARLA) launched these loans via a panel of lenders, and hence the buy-to-let mortgage arrived in the UK property marketplace.

Relaxation of criteria reflects the realisation that buy-to-let is not as risky as lenders first thought. There are now around 70 lenders offering the buy-to-let product however albeit that around 50 per cent of all buy to let loans are written by the 6 members of the ARLA panel:Paragon, GMAC, Mortgage Express, Birmingham Midshires, NatWest and The Mortgage Business.

Know The Basic Features Of Mortgage

Know The Basic Features Of Mortgage

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“Mortgage”- the word baffles people when they think about borrowing money. Though it is a very simple procedure, but it is apparently complicated as our home is attached to this term. Through this article the reader will able to get some idea about mortgage.

Normally, mortgage is a legal agreement between borrowers and lenders. With mortgage a borrower can borrow money from any loan lending organization and give them the right to repossess his property, used as guarantee, if he fails to pay-off the loan amount.

Refinance & Prevent Foreclosure

Refinance & Prevent Foreclosure

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Over the past several months, an increasing proportion of our callers from coast to coast and from all walks of life are experiencing a homeowner's worst nightmare: Foreclosure, the act by which a lender may demand the liquidation of your property at auction in order to satisfy a delinquent loan. What are the different steps in the foreclosure process? How did these otherwise good people wind up on the courthouse steps? And what can you do to stay out of this situation, or get out of the situation if you're already in it? We explore some of these topics in this article, and detail some of the unique opportunities you may have to save your home, your credit and your way of life by avoiding foreclosure through a well timed mortgage refinance.

Oprah TV show discusses Windfalls and their Pitfalls

Oprah TV show discusses Windfalls and their Pitfalls

The Money Coach's Guide to Your First Million by Lynnette Khalfani

Windfalls can be a wonderful financial break. Oprah discussed with a number of guests how coming into a large sum of money has changed their life. It was a surprising show to see how people handle their money, and how it can cause unwanted stress and problems in their lives.

Oprah’s first guest was a lady that struck it rich in business. She moved to New York and in 2 months time made $60,000. She opened her own shop and in the first year sold 1.2 million at her boutique. Her and her husband lived large. She estimates that she would spend $1,000 a week on eating out at restaurants. She would travel to London and Paris 4 times a year. In this time, she didn’t have a savings account. She instead chose to use drugs because she felt like she wasn’t fitting in with the wealthy. Her drug habit cost her around $600 per day. She estimated that she spent $250,000 in drugs in a year’s time.

Can my car be repossessed at my house or workplace?

Can my car be repossessed at my house or workplace?

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Can my car be repossessed at my house? Can my car be repossessed at my workplace? Many people wonder where their vehicle can be repossessed. Well, the answer is almost anywhere. Even though you may think your vehicle is safe at home, or even at your workplace, think again. The bank, dealership, or other lender owns the title to your car. They own it; you do not. That includes any aftermarket accessories that you may have put on the vehicle, including brush guards, custom exhaust systems, and yes, fancy rims. You will be hard pressed to regain possession of those accessories and items, as they are now considered part of the vehicle.

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