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 study of management fees has found that many savers in workplace pension schemes face charges of more than 3% a year.
The majority of these are held by savers with pots of less than £10,000.
A body representing providers said that the evidence in the report was largely historic.
The Association of British Insurers (ABI) have said that the level of charges has been falling significantly in recent years.
Pensions Minister Steve Webb said the report had exposed the industry's "guilty secrets and murky past". He has threatened legislation if providers do not provide value for money in pension schemes, although this would not happen before the General Election.
The Independent Project Board has been studying the potential level of fees for savers in workplace defined contribution schemes since last year. It concentrated mostly on older, "legacy" schemes.
Out of £67.5bn of funds being managed, up to £25.8bn could face management charges of more than 1% a year
Of these, up to £8bn of funds being managed could face charges of 2%
Up to £900m of funds being managed could face charges of more than 3%
Some 291 different combinations of charges are in place
An estimated 407,000 savers who have joined schemes in the last three years could face charges of more than 1%
Some savers who leave schemes early could face exit charges of 10%
The government has set a management fees cap of 0.75% for workplace schemes which takes effect from April.
This only applies to the default scheme for people joining - or automatically enrolled - into a workplace scheme.
Many savers will not be protected by this cap, so the report has criticised some of the high charges they face. The authors have written to providers in this situation and said they expect a justification for any high charges by June next year at the latest.
The pensions minister said he would call in some providers in the new year, expecting quick action, otherwise they could face legislation.
However, the trade body for providers said that changes were already being made.
Huw Evans, director of policy at the ABI, said: "How much people save and for how long can have an important impact on charge levels, and investment performance and quality of scheme governance also matter.
"Providers will welcome the clarity this report provides and will remain absolutely committed to building on the radical changes of the last decade, which have already seen average pension charges fall to their lowest-ever levels for auto-enrolment schemes."
The ABI said that these legacy schemes were regulated, so there should be no requirement for refunds to anyone who has paid high charges in the past. The pensions minister also accepted that securing any compensation of this kind would be a challenge. more ....