Choice Blog

Personal Finance

Is it easy to get a personal loan in the UK?

Last post: Apr 18, 2012

We recently had a client come to us asking about debt consolidation options and in the course of the answer I realised I was writing a mini Guide to getting finance in the UK so I thought it worth posting in a Blog. Is it easy to get a loan in the UK today?

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Retirement Mortgage For Over 60s But Not An Equity Release

Last post: Apr 12, 2012

A UK Building Society has for the first time launched a new mortgage aimed at those over 65 that isn’t an Equity Release scheme. It allows eligible applicants borrow up to 50% LTV (max £250,000) over a period up to 25 years and we have access to this limited mortgage product.

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New Debt Management guidance from the OFT

Last post: Mar 23, 2012

The OFT has published new guidance as to the standards it expects from businesses offering debt management advice or credit repair services to the public. Specifically they have issued example of “unfair or improper practises” which if a businesses is found to be engaging in them could lead to them losing their Consumer Credit License.

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Banks cut LTVs on Interest Only mortgages

Last post: Mar 20, 2012

We’ve seen before how a trend can spread in banking. Just last month we noted that the rise in SVRs from RBS & HBoS could lead to others following suit and, sure enough, before too long we saw Bank of Ireland wade in with a 1.5% SVR rise and others are also due to follow suit soon.

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Free Credit reports for life

Last post: Mar 6, 2012

Free credit reports now available

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Mortgage Lenders increase Standard Variable Rates

Last post: Mar 5, 2012

It’s been flagged for some time now but this weekend it finally happened. Following several months of an increase in LIBORs in the interbank market, the first Lenders have bitten the bullet and passed these increase on to their variable rate customers linked to the Lenders own Standard Variable Rate (SVR).

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