Self-cert loans/mortgages

Self-cert loans/mortgages
 

These days, lenders are now more careful with applications from clients that are not accompanied by PAYE payslips, or accounts in the case of self-employed, the result is they have either reduced the number of self-cert mortgages they make available or simply vacated the market entirely.

increasing numbers of lenders are placing priority on lower-risk prime mortgage business, with deposits from clients in place, and proof of income.

according to industry figures, there were around 40 self-cert lenders on the market at the end of 2007 with some 900 or so different deals available, by contrast there are now few if any lenders around willing to offer self-cert mortgages.

those lenders who do remain in the self-cert mortgage market, often require potential borrowers to confirm their ability to afford the loan, this confirmation may include an in depth interview with a loan adviser to assess whether the application is viable.

with an accountants verification of self-employed status, a loan will then be based on the mortgagee net disposable income, this often increases the likely hood of a successful self-cert mortgage application.

applying for a self-cert mortgage is not a cause for worry, there are ways to ensure you are viewed as being a good self-cert risk for a lender to issue a mortgage to.

be entirely honest with your application, particularly in relation to income, do not for example claim bonus payments as part of your regular wage.

negative issues can lead to you being required to pay a higher percentage as deposit to secure your mortgage, with self-cert mortgages being 1% above normal mortgages you can find yourself being priced out on the ability to afford a self-cert mortgage.

candace2finance.com/mortgages

Prepaid card

PREPAID CARD


prepaid cards can protect you and; your bank account, they are ideal if you have agreements with creditors or simply like to shop on line, they are an excellent budget tool.

Paying for items or services with a normal credit or debit card means you are engaged in what is called a * ''continuous payment agreement'', what this means is your agreement cannot be cancelled either by you, your card company or your bank, it can only be cancelled by the receiver of the payment.

if therefore you are using a normal credit/debit card to make on line payments, then in effect your bank account, access to it, plus all of your income/savings are under the control of a third party and not YOU or your BANK.

a prepaid card limits the amount that can be taken as you only have to load it with what you want to spend, with a pre-loaded amount, you also avoid any further unauthorized deductions form your card, you can also simply dispose of the prepaid card if you wish and get a new one.

industry figures show that as much as 73% of people never check their credit card bills on a regular basis.

any opening amount placed on your prepaid card is yours to spend when you activate your prepaid card

* relates to UK law



candace2finance.com/banking

Overdraft

OVERDRAFT


With the recession due to bite even harder, you may well need to utilise the overdraft facility with your bank account. before you do there are a couple of things to bear in mind.

the first thing to remember when considering an overdraft, is the effective annual rate (EAR) and cost.

secondly is the available interest free overdraft protection provided by some banks, this is an extra level of spend, over and above the stated and agreed overdraft rate that you have made with the bank before they will apply/enforce any fees/interest on any unauthorised overspend on your part.

candace2finance.com/banking

loans

LOANS


The problem with finding a quick loan of any kind is that until and unless you look for other external financial aid, the task of arranging funds within a short span of time does not seem to be possible.

The loan market is full of various loan offers, from where you can get funds as per your and requirement. However, it is the brokers that suits the current economic circumstances at present.

no individual can ever be safe and secure regarding their financial affairs. Which situation occurs suddenly can never be predicted.

Finance may be required for meeting a variety of unexpected occurrences from an accident to treatment, or to repair/replace your damaged car or property. In these situations an independent broker can secure the best possible personal loans that are available in industry, the thing on which you can fully rely upon is a no fee licensed broker working for you.

Business Loans are also available. If you have been refused loans and have an adverse credit history we may be able to help for;


* Personal Loans (Secured and Unsecured)

* Business Loans (Secured and Unsecured)

* Consolidation Loans

candace2finance.com/loans

Mortgage rates

MORTGAGE RATES:

According to the British Bankers' Association, gross mortgage lending has dropped by over 50% & lenders are requiring 15% + as deposits, lending is also at it's lowest for five years
with home owners due to experience their first mortgage rate rise by the end of this year as most lenders are due to put rates up by significant amounts.

though affordability has eased recently, it is still hugely expensive to take on a mortgage especially with weekly earnings falling around 2%.

the situation is about to worsen due to the number of self certification mortgages held in the UK, better now known as sub prime mortgages,held by a mixture of those who never had a large income, and those who have had a reversal in their level of income.

if you are experiencing difficulty, visit us at;
www.candace2finance.com/loans

Credit repair

CREDIT CRUNCH

Despite the claims of some companies removing a CCJ is not straight forward. The only way to have a CCJ removed from the Register of County Court Judgments is to prove it was listed in error. If you believe you have a valid case then visit us online.

Usually a CCJ cannot be removed and the best way forward is to settle it off.

By clearing your CCJs your credit rating will improve immediately and it demonstrates that you are dealing with your debts in a responsible manner.

A settled CCJ is far less damaging so why not contact us today to see if we can help you.

Most creditors view a CCJ as a last resort and will have attempted to reach an agreement with you many times before taking you to court. Unfortunately most people find it difficult to deal with debt collectors and do not understand the deals that can be made with them.

At Candace finance we assist in dealing with arrears and can help you avoid or remove a CCJ.

If you are behind with your payments and worried about repossession, bailiffs, CCJs bankruptcy visit us now 

www.candace2finance.com/credit_repair

Financial services

FINANCIALSERVICES

a house is not the only large financial risk and commitment you will ever make. 

the fact is your insurance is also large a financial risk, remember, it does not matter who your architect is, what neighbourhood you live in, or how much you paid for your house, if you don't have an insurance policy you are dead in the water.

your mortgage is large in terms of your overall repayment/value. & your insurance has to be at least as big to cover the value of your home.

Do not only rely on insurance comparison sites that simply give you policies based on a star rating, do some online leg work, high star ratings can in some cases simply reflect which insurer is paying the best commission for the comparison site.

www.candace2finance.com/insurance

Candace finance your one stop shop for financial services;
Mortgages:
for all your mortgage requirements.

Credit check:
Experian offers personal or business credit checks that enlighten and empowers you
by providing searches, The service is completely impartial, simple to use and free to you.

Wills:
Try our free and unique 100% impartial wills service.

Credit/debit Cards:
Compare and contrast credit cards & debt cards.

Loans:
Compare and contrast personal and secured loans.

Bank Accounts:
Compare and contrast a range of bank accounts.

Insurance for any purpose:
Compare and contrast a wide range of insurance products.


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