If, after having taken out a loan, your circumstances change and you wish to repay your loan early you will have to ask the lending company for a “redemption” or “settlement” statement- this will detail how much you have to pay to redeem the loan. The lending company will permit you to repay the loan [...]

If your circumstances have changed soon after having taken out a loan and you wish to repay your loan early you will have to ask the lending company for a “redemption” or “settlement” figure/statement- this will detail how much you have to pay to redeem the loan. The lending company will permit you to repay [...]

The advantage of a personal loan is that it is a fixed amount with regular repayments; this makes it much easier to budget for. The disadvantage of a person loan is that some loans may penalise you for repaying early with an early charge fee. Whilst with secured loans you risk loosing your property if you cant [...]

If you want to cancel a loan, there are many variables, depending on where you signed. Look carefully at your loan agreement- if the agreement does not say that you have a right to cancel then you cannot do so. To give further example, with an unsecured loan, you cannot cancel if you signed the contract on [...]

There are lots of different types of loan, and many different agreements. Check the terms and conditions of the loan agreement to find out if they state that you have the right to cancel. If the agreement does not say that you have the right to cancel then you are unable to do so. It [...]

There are many different lenders, companies and business by which you are able to get a mortgage, but Lenders and Intermediaries are the two main branches. Below are details of each. Lenders Mortgage lenders such as building societies, banks and specialist lenders sell mortgages direct to borrowers. You are able to go to them for [...]

There are many, many different mortgage deals out there, and this is because each lender has its own standard Interest Rate that it charges on its mortgage, often called the standard variable rate. Lenders also promote ranges of special deals at special interest rates, although these deals are often aimed at first time buyers, people [...]

In basic terms, a mortgage is simply a loan that you can take out to help you buy a property. The loan is secured on the property, so if you fail to keep up with your re-payments, then the lender can evict you and sell the house. If you wish to take out a mortgage [...]

Some mortgage deals offer cash back as an addition. The lender will pay you a cash lump sum once the mortgage has been set up to use in any way you wish. The amount of cash back available depends upon the lender and type of deal, and sometimes the amount borrowed. There are two different [...]

It is possible to have more than one mortgage on your home. Many banks, building societies and lending companies will lend if there is sufficient “ free equity” in the property. This is the difference between what the property is worth and what you owe on any existing mortgages. Some people think that if they [...]