Don't pay more than you have to on Bad credit homeowner loans
Over recent years the debt mountain and the level of bad debt in the UK have both risen sharply, and this has reflected the rising number of people that have managed to clock up a range of bad debts, affecting both their lifestyles and their credit rating. As most people know, the state of your credit can severely impact on your ability to get competitive rates on finance - and even on your ability to get finance at all. However, with more and more people with bad debts, lenders have had to fill the gap in the market by offering by offering loans for people with bad debt.
As a result of this the number of bad credit homeowner loans available in the UK has risen, with a range of lenders now offering finance to those with bad debts. However, borrowers with bad debts are considered a high risk to lenders, which means two things. Firstly the rate of interest charged on bad credit homeowner loans is likely to be significantly higher than on loans for those with bad credit. Secondly, most lenders that offer bad credit homeowner loans will only do so on a secured basis, which means that you will need to be a homeowner in order to qualify for one of these bad credit homeowner loans.
Although the interest rates on bad credit homeowner loans are higher than on standard or best rate advertised loans, there are still some competitive deals available. However, it is easy for someone with bad debts who is keen to take out finance for whatever reason to get duped by a seemingly attractive rate of interest only to find that there are various hidden fees and charges that bump up the cost of borrowing. It is important to know what to look for with bad credit homeowner loans as you need to find a loan that is affordable - remember, with homeowner loans failure to keep up with repayments can result in you losing your home.
Rather than trawling through various lenders that offer bad credit homeowner loans, filling in numerous applications forms, and then taking the risk of ending up with a poor value loan, it is a good ideal to enlist the help of experts when looking for bad credit homeowner loans. Here are Loans4 we have experience and skill when it comes to finding competitive rates on bad credit homeowner loans, and although you won't be eligible for the best rates on the market you can enjoy the benefit of a competitive rate based on your circumstances.
Our expert team has plenty of experience when it comes to sourcing a range of lenders that offer bad credit homeowner loans, and with access to a wide panel of reputable lenders we can ensure that you don't have to pay way over the odds for the privilege of being able to take out a loan. When you take out bad credit homeowner loans you will also be able to work on repairing your credit, and although this can take some time, providing you keep up with repayments on your loan, you could switch to a better rate loan a few years down the line as your credit improves, aiming of course to qualify for best rate loans in 5 to 10years time.
If you want to save yourself the time, hassle, and frustration of looking for a bad debt loan to suit your needs all you need to do is provide us with some basic details using the online facility provided. We will then source our range of great value bad credit homeowner loans to find the one that best meets your needs and circumstances. Our speed and efficiency means that you won't have to wait around, and we will get your loan processed and completed quickly for you.
The Financial Ombudsman Service (FOS) has received 2,200 complaints about gadget warranties this which is double that of the last year (2013).
The FOS says the policies that have been sold to people wrongly failed to pay out almost half the time.
In 800 cases where claims were turned down, 43% of them found in favour of the complainant.
The FOS report says that gadget insurance should cover specific electronic devices against damage, including the effects of water or liquids, theft, and loss at home or when you are out and about.
But it said: "We see an array of complaints about gadget insurance - the two most common resulting from a claim after the device was stolen or accidentally damaged."
"If an insurer turns down a claim on the basis that it was left unattended, or - in the case of damage - that it was caused deliberately, some insurers [then] reject complaints," it added.
However, the FOS sometimes found that terms in the contract had been applied unfairly, or that they were so ambiguous it was hard to see how anyone could make a successful claim.
In one example, a person had his tablet computer stolen from a locked suitcase in a locked room while he was on holiday.
The insurer declined the claim as there was no evidence of forcible or violent entry into the hotel room where he was staying, as required by the terms of the policy.
The Ombudsman did not consider this fair.
The Ombudsman also offered guidance on what people should consider before taking out a gadget warranty:
1. Check to see if your home contents insurance includes items while away from the home - and the cover limit
2. Check age restrictions - some policies will not insure items more than six months old
3. When buying a warranty, check what it will cover
4. Check the manufacturer's or retailer's existing guarantees
5. A credit card purchase may already be covered under the card issuer's insurance.