As the name says, can be availed without any demand of collateral. Since the nature of these loans is unsecured as no valuable collateral is pledged against the loan amount, thus the borrowers who do not have any valuable collateral can avail unsecured loans for short needs to fulfill their needs. So, these loans offer great help to meet unexpected financial emergency in collateral free and risk free manner. The loan amount ranges from £1000 to £25000 with a repayment period of about 1 to 10 years. The borrower may use the loan amount absolutely according to his needs without any interference of the like to pay several unexpected bills, finance the higher education of children, pay-off previous debts, all of a sudden car repair, home installments, vacation and travel expenses etc. E Read more…
You don’t need to look to the stars (or psychics) to tell whether you’re going to enjoy financial health in the long term. The things you do each day and your current status can help you determine whether you’ll be wealthy. Here are the signs to watch for:
1) You make saving a habit. Good saving habits are a sure sign of long-term financial success, because if you’re setting aside money in an emergency fund and an investment account, you are building your financial success bit by bit. If you don’t have the savings habit, you can start now and end up wealthy as well.
2) You take an interest in money. People wh
Acquiring a vehicle is prestigious and the emotions that sometimes come with it are understandable. During such time of excitement, many people throw caution to the wind and end up making some very costly mistakes. Car financing is one that that a person can easily blunder, leading to heavy losses and waste of money and precious time. The following few examples are the common mistakes that should be avoided when getting into a car financing deal.
The Rigid Mind – A car buyer may fall in love with a certain car regardless of its shortcomings. They give other comparable models a blind eye and even reject advice from experts. Some even fall for unpractical choices. F
The FHA mortgage loan guidelines for loan qualification are the most flexible of all mortgage loans (OK, maybe not as flexible as this guy) that require less than 5% down payment. Although some of the guidelines have gotten more stringent, they are still the easiest loans on the market to qualify for today.
Following are the basic FHA loan qualification guidelines.
- Two Years of steady employment, preferably with same employer.
- Last two years Income should be the same or increasing.
- Credit report should typically have less than two thirty day lates in last two years with a minimum credit score of 620 or higher or in some cases no credit score at all.
- Bankruptcy’s must be at least two years old, with perfect credit since discharge.
- Foreclosure’s must be at least three years old, with perfect credit since.
- Your new mortgage payment should be approximately 30% of your gross (before taxes) income.
These are some of the most basic of FHA guidelines for qualifying for a FHA loan. If you have answered yes to most of these statements, you probably qualify for a FHA mortgage loan.
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MUMBAI: Banks have expressed concern over the competition commission’s intervention on homeloan prepayment penalty issue as they fear that this would put pressure on their costs, increase risk and even lead to higher lending rates.
Last month, Competition Commission of India (CCI), the apex body that operates to sustain and promote competition, sent notices to atleast 15 banks, NBFCs and IBA seeking explanation on why they penalise borrowers who choose to foreclose loans.
In the communication, CCI is understood to have observed that loan prepayment penalties will suppress the competition in the homeloan market by limiting the chances of a borrower to switch their loan to another lender. Read more…