Want to know more about loans? This article covers the various significant choices of loans that are out there. Short overviews are provided of these to give you some basic understanding of what might be the correct type of lending for you.
How lending works: The lender provides the borrower with funds which then have to be repaid within a set time frame. Loans can be unsecured or secured. Time frames can fluctuate from 7 days to over 20 years. The cost of this is known as the interest rate. Annual interest rates can be anywhere between percentages of one to three digits.
UNSECURED LOANS
Bank Overdrafts. To be eligible for a bank overdraft you need to have your bank account in good order. If your withdrawals exceed Read the rest of this entry »
Being in your dotage means you own your home outright. This is the dream we have all been raised on. The white picket fence , the comfy couch, grey hair and no mortgage. Sadly, this is no longer the case for many pensioners. 600,000 pensioners are still paying house loans, and even more scary, 20,000 of those will still be making repayments into their 80’s.
For the past few years housing prices have been rising at a frightening pace. If you are already in the home owner’s market, then this is terrific. For those who are not, these can be frustrating times.