Long Term vs Short Term Loans: All You Need To Know
What are short-term loans? Short-term loans are essentially personal loans that you repay within a shorter term (usually 6-12 months), borrowed to tide over a financial crunch or an unprecedented expense. A short-term loan’s payout is quicker since the loan amount is small. You may receive the money in your bank account within a few […]
Can A Secured Loans Be Written Off?
Life is dynamic, and so are our physical and financial circumstances. If you have multiple loans, the thought of being unable to pay them off must’ve crossed your mind at some point. This cloud of thought becomes denser as we come across people who are not in a condition to repay their dues. Just what […]
Debt Management: Is My Debt Too Much?
Debt is a necessary evil of our financial life cycle. It can help you fulfil essential milestones of life such as building an asset – your house. But the same debt can cause you mental distress by disturbing your financial peace. What separates good debt from bad debt is a healthy debt-to-income (DTI) ratio. Read […]
Self-employed Grant: COVID-19 Support
COVID-19 has put the global economy to a halt. The UK has been facing the wrath of the pandemic since March 2020. The catastrophe shook the foundations of even age-old, established firms. So one can only imagine the plight of new and small scale businesses after this pandemic hit the UK. But the UK Government […]
4 FAQs to Help You Understand Loan Notes
If you’ve ever taken out or are planning to take out a loan, you must be familiar with the term ‘loan note’. Simply put, a loan note refers to the contract, signed by the lender and borrower alike. This contract encompasses all details of the loan, such as the loan term, loan amount, interest rate […]
5 FAQs about Guarantor Loans: Answered
Getting a personal loan comes with its own set of challenges. If you have a below-average credit profile and have applied for a personal loan, you must be familiar with the term ‘guarantor’. A guarantor is someone who co-signs a loan and partakes in the obligations along with you. Lenders are likely to ask for […]
What is a HELOC?
A HELOC is a home equity line of credit that allows you to tap on your home equity for cash. It is a second mortgage that provides you with access to funds using the value of your home. Whether you need to redo your kitchen or you want to give a complete makeover to your […]
4 QnA’s That Explain Negative Interest Rates
The UK economy is struggling to cope up with the aftermath of COVID-19. To overcome the economic challenges, the BoE is considering making interest rates negative. The BoE recently asked banks how prepared they were to handle sub-zero interest rates. The idea of negative interest rates remains hypothetical, but ever since the BoE brought it […]
How to Improve your Credit Score after you Receive a CCJ?
What is a County Court Judgement (CCJ)? A County Court Judgement (CCJ) is a court order that is issued against a defaulter who fails to pay back their debt to a bank, lender or a financial institution. If you have been issued a CCJ, it indicates that you have committed a serious financial mistake, which […]
Home Equity Loan Vs Home Improvement Loan
Your family is growing and your home doesn’t have enough rooms? Want to keep up with the trend by updating your kitchen? Need space to place your new bathtub? Your home may need constant changes (minor or major) as per your changing lifestyle. Does that mean every time any such thing happens, you will have […]
