There were days when a human being had to stand in a big hall in a queue in front of a counter. These counters were many and usually had people who seemed to be always in a hurry and also visibly irritated. So getting rebuked for taking some amount of time to carry out transactions like filling up slips for taking out money and also for making payments, was a everyday as well as a routine occurrence. This was the bank, a place which was filled with energy and lots of noise as well as intense amount of activity in the form of shouting employees and busy clerks. One may always remember the somber looking clerk giving instructions to carry out a certain procedure even without feeling the need to lift his head in order to see the person to whom he was giving the instructions. Hence going to a bank was quite a pleasant as well as a learning experience for many individuals.
The charms of the past still stay in the major branches and offices of many big as well as small banks today. Although this charm is quite enjoyable for people who are young and sometimes even enjoyable, but it can be quite tedious for people belonging to the old and the experienced category. Technology has unfolded a new gift in their hands in the form of Internet which permits them to carry out their banking transactions while being comfortably seated in their houses. They can therefore take the advantage of online banking services and perform all the needed operations in an ample amount of time without having to be stressed out by the every busy clerk.
All the features which form the basis of banking operations in a bank are now incorporated in a banking website. Hence the user has the luxury of having lots of time to go through all the information related to the specific service that he requires. These websites are created keeping the fact that not every person is a computer expert and hence are easy to handle and use. They are therefore becoming the preferred choice for a large number of customers today and hence online banking services are here to stay.
All the necessary and sometimes required features can be done with the help of a banking website. Hence the user can make payments 'online' and he can also transfer required amount of funds from his account to another person's account. The user is also able to apply for loans by filling up online forms and he can also take print outs of his bank statements in a very efficient manner. These are some of the things possible however a banking website is capable of doing many other things.
One of this features is the facility to apply for a fixed term deposit online through the website. There are different norms as well as formalities for multiple banks and all of these are explained in detail in the various websites of the banks which are operating at present. The user also has the facility to access information of an exhaustive nature and hence the process becomes quite simple in when the user applies online.
There are many banks which are giving the facility of fixed term deposit and these features are characterized by facets such as the tenure required for paying the interest. The rate of interest varies for different banks and there are also various schemes that are provided specially for customers who belong to the old age group. Hence there are banks like SBI, Axis Bank, IDBI bank, Canara Bank and many more, which are giving this facility. The ease of this facility is improved further by the online feature and hence the online banking services in this regard are quite useful and therefore the facility is therefore fast and revolutionary. The Internet has hence changed the way people handle their banking procedures.
For more information about online banking services and Bank Fixed Deposit Interest Rates India, Plz visit our website http://www.paisawaisa.com
Article Source: http://EzineArticles.com/?expert=Simon_Crerar
วันจันทร์ที่ 29 กันยายน พ.ศ. 2551
What Just Happened Here? - The Recent Financial Crisis in Plain English
The recent economic crisis is a toxic cocktail of immense proportions. Understanding what to do next is impossible without first understanding the individual ingredients in the cocktail. To be sure, each of these ingredients requires a fully-orbed separate treatment for proper analysis of individual situations. Let's stipulate to this fact now. Knowing the ingredients, however, will go a long way in getting off on the right foot for future analysis and problem solving. Here are five ingredients.
First, Congress in 1977 compelled banks to lend money to people with unworthy credit. This was the Community Reinvestment Act of 1977. In the intervening years, any congressional suggestion that this might be a bad idea was met with social ridicule. We now call these acts of congress "subprime mortgages."
Over the last several years, secondly, bank regulators essentially took a long vacation. Everyone knew that these loans were carried on the books at questionable values. Then suddenly, the regulators asked that these investments be "marked to the market." In short, banks were then forced to carry these assets as if they were a fire sale today instead of a long-term investment for tomorrow. This scenario ignores the sort of assets that were carried off the books, which is extra trouble.
Third, the Federal Reserve over the last several years kept interest rates at historically low levels. The easy access to money meant that more money was loaned. Easier money supply meant that more money chased each individual piece of real estate. This is a classic prescription for inflation of any asset. So real estate, accordingly, rose at a rapid and unsustainable level.
Americans do not save money. This is number four, but it might need to be number one. Instead, they borrow for everything. The average credit card balances and average mortgage to equity ratios grew exponentially. People borrowed much more than they were able to reasonably repay.
Finally, in 1999 the Glass-Steagal Act deactivated. This meant that deposit based commercial banks and leveraged based investment banks no longer maintained a wall of separation. In short, banks leveraged themselves at a 40 to 1 ratio. For every dollar of capital, many investment banks borrowed forty dollars. They then bought what they thought was $40 of value to only see the asset value abruptly erode. This is a prescription for bankruptcy for any organization.
The big picture of this toxic cocktail is stunning and few saw it coming. This brief summary intentionally provides no offered solutions. It is critical, however, to see that everybody is complicit in our current economic crisis. Individuals borrowed too much money. Banks over-leveraged and ignored risk. Regulators looked the other way in one instance, then suddenly changed the rules in the next. The Federal Reserve made money too easily available. Congress mandated bad loans on the one hand, then deregulated the handling of those loans on the other.
Although there are no easy answers, we need to look carefully at the individual ingredients as well as how those ingredients combine to create the unintended consequence of the worst economic crisis in modern history.
For further information concerning investing, pensions or retirement planning read Steve Meidahl's well-regarded book, "Lessons of A Real Life Investment Advisor" or visit Stephen O Meidahl's website at http://www.smeidahl.com
Article Source: http://EzineArticles.com/?expert=Stephen_Meidahl
First, Congress in 1977 compelled banks to lend money to people with unworthy credit. This was the Community Reinvestment Act of 1977. In the intervening years, any congressional suggestion that this might be a bad idea was met with social ridicule. We now call these acts of congress "subprime mortgages."
Over the last several years, secondly, bank regulators essentially took a long vacation. Everyone knew that these loans were carried on the books at questionable values. Then suddenly, the regulators asked that these investments be "marked to the market." In short, banks were then forced to carry these assets as if they were a fire sale today instead of a long-term investment for tomorrow. This scenario ignores the sort of assets that were carried off the books, which is extra trouble.
Third, the Federal Reserve over the last several years kept interest rates at historically low levels. The easy access to money meant that more money was loaned. Easier money supply meant that more money chased each individual piece of real estate. This is a classic prescription for inflation of any asset. So real estate, accordingly, rose at a rapid and unsustainable level.
Americans do not save money. This is number four, but it might need to be number one. Instead, they borrow for everything. The average credit card balances and average mortgage to equity ratios grew exponentially. People borrowed much more than they were able to reasonably repay.
Finally, in 1999 the Glass-Steagal Act deactivated. This meant that deposit based commercial banks and leveraged based investment banks no longer maintained a wall of separation. In short, banks leveraged themselves at a 40 to 1 ratio. For every dollar of capital, many investment banks borrowed forty dollars. They then bought what they thought was $40 of value to only see the asset value abruptly erode. This is a prescription for bankruptcy for any organization.
The big picture of this toxic cocktail is stunning and few saw it coming. This brief summary intentionally provides no offered solutions. It is critical, however, to see that everybody is complicit in our current economic crisis. Individuals borrowed too much money. Banks over-leveraged and ignored risk. Regulators looked the other way in one instance, then suddenly changed the rules in the next. The Federal Reserve made money too easily available. Congress mandated bad loans on the one hand, then deregulated the handling of those loans on the other.
Although there are no easy answers, we need to look carefully at the individual ingredients as well as how those ingredients combine to create the unintended consequence of the worst economic crisis in modern history.
For further information concerning investing, pensions or retirement planning read Steve Meidahl's well-regarded book, "Lessons of A Real Life Investment Advisor" or visit Stephen O Meidahl's website at http://www.smeidahl.com
Article Source: http://EzineArticles.com/?expert=Stephen_Meidahl
Stocks, Bonds, and Mutual Funds Explained
Do you ever feel financially illiterate? Do you turn on CNBC only find yourself completely dumbfounded by what they are saying? Do you wish you at least new something about investing so that you could chat with your friends about the 'markets'? Don't worry, the basics aren't as hard as you think.
If you want to invest in the stock market, you have to know a little about what you are doing. When a company goes public, they begin to sell shares of stock on a public stock exchange such as the New York Stock Exchange (NYSE). One share of stock has a price which continually fluctuates on a daily basis. Your goal is to buy a share of stock at one price, and then sell the share at a higher price on a later date.
Owning a share of stock means you own part of the company. The firm issues stock in order to raise money for their company to grow. If you own stock, you are a shareholder. As a shareholder, you are able to vote in the company and have some say. Although, usually you just vote on who you want to be on the board of directors, and they make decisions for the firm.
A stock is considered an equity security because you own part of the company. A bond is considered a debt security because you lend the company money, you don't own any of it. You can buy bonds from the government, state, bank, or a corporation. If you buy a bond for $1,000 that matures in 10 years with an effective interest rate of 5% paid annually, every year you will receive $50 until the 10 years are up at which time they will pay you back the $1,000.
You can hold bonds to maturity or you can buy and sell them. Bonds bought from the government usually have little to no risk. Corporate and municipal bonds have a rating that will tell you how risky they are. For example, an AAA bond has very little risk, but will usually not give you a very high return. A bond that is rated at BB or lower is considered a junk bond because it has high risk but potential for a very high return.
A mutual fund is a mix of stocks, bonds, or both. You give your money to a mutual fund manager who pools your money in with other people's money. He buys stocks and/or bonds that he feels will get a high return. Mutual funds are beneficial because you are able to diversify your money, meaning you reduce your risk by investing in many different securities or investments. No-load mutual funds are popular because they don't charge fees which puts more money back into your pocket.
If you are still looking for different ways of investing money and you want to learn more about investing and how you can start, go to LearnAboutInvesting.info
Article Source: http://EzineArticles.com/?expert=Samantha_Asher
If you want to invest in the stock market, you have to know a little about what you are doing. When a company goes public, they begin to sell shares of stock on a public stock exchange such as the New York Stock Exchange (NYSE). One share of stock has a price which continually fluctuates on a daily basis. Your goal is to buy a share of stock at one price, and then sell the share at a higher price on a later date.
Owning a share of stock means you own part of the company. The firm issues stock in order to raise money for their company to grow. If you own stock, you are a shareholder. As a shareholder, you are able to vote in the company and have some say. Although, usually you just vote on who you want to be on the board of directors, and they make decisions for the firm.
A stock is considered an equity security because you own part of the company. A bond is considered a debt security because you lend the company money, you don't own any of it. You can buy bonds from the government, state, bank, or a corporation. If you buy a bond for $1,000 that matures in 10 years with an effective interest rate of 5% paid annually, every year you will receive $50 until the 10 years are up at which time they will pay you back the $1,000.
You can hold bonds to maturity or you can buy and sell them. Bonds bought from the government usually have little to no risk. Corporate and municipal bonds have a rating that will tell you how risky they are. For example, an AAA bond has very little risk, but will usually not give you a very high return. A bond that is rated at BB or lower is considered a junk bond because it has high risk but potential for a very high return.
A mutual fund is a mix of stocks, bonds, or both. You give your money to a mutual fund manager who pools your money in with other people's money. He buys stocks and/or bonds that he feels will get a high return. Mutual funds are beneficial because you are able to diversify your money, meaning you reduce your risk by investing in many different securities or investments. No-load mutual funds are popular because they don't charge fees which puts more money back into your pocket.
If you are still looking for different ways of investing money and you want to learn more about investing and how you can start, go to LearnAboutInvesting.info
Article Source: http://EzineArticles.com/?expert=Samantha_Asher
วันพุธที่ 17 กันยายน พ.ศ. 2551
2 Ways to Put Your Children's Money to Work
Recently I've been sharing tax strategies related to getting your children in the game and on your payroll. Now that you've put your children to work, the next step is to put their money to work!
There are many ways your children can put their money to work. Here are two of those ways:
#1 Have Your Children Pay for Their Extras
One thing most parents agree on is that children can be expensive! All the extras add up - sports, lessons, toys, games, the latest gadgets. All parents know this list can go on and on. Rather than paying for your children's extras with your after-tax dollars, have your children pay for their extras with their after-tax dollars. Your children's after-tax dollars are much cheaper than yours - especially if they are in a 0% tax rate!
What I love about this strategy is it reduces my taxes AND gives my children real life experience with managing their own finances.
#2 Have Your Children Fund a Roth IRA
Typically children do not have IRAs because in order to make a contribution to an IRA, the IRA owner must have earned income. Since most children do not have earned income, an IRA is not an option.
When you have your business hire your children, not only do you have the opportunity to reduce your taxes, but you have also created the opportunity for your children to contribute to an IRA. Once your children have earned income, they are eligible to contribute to an IRA.
In most cases, I find that a Roth IRA is a better fit for children than a traditional IRA. One reason is because distributions from a Roth IRA are tax-free. In a traditional IRA, distributions are taxable income. This means that all the income earned in a Roth IRA will never be taxed! Of course, the rules of the Roth IRA must be followed to receive this treatment but I find that most of the time, the rules of the Roth IRA are easier to follow than those of a traditional IRA.
The power of time is huge in this strategy because even modest contributions to a Roth IRA at a young age can grow to a substantial balance by the time your children are even just middle aged! Add to that the tax-free nature of the Roth IRA and it's easy to understand why this strategy can be so powerful for your children.
Another reason I like the Roth IRA for children is that there are several exceptions to the early withdrawal penalty (which can make Roth IRA earnings and contributions taxable). These exceptions provide opportunity for your children to take distributions without penalty long before they reach retirement age.
Tom Wheelwright is not only the founder and CEO of Provision, but he is the creative force behind Provision Wealth Strategists. In addition to his management responsibilities, Tom likes to coach clients on wealth, business, and tax strategies. Along with his frequent seminars on these strategies, Tom is an adjunct professor in the Masters of Tax program at Arizona State University. For more information, visit http://www.provisionwealth.com
Article Source: http://EzineArticles.com/?expert=Thomas_Wheelwright
There are many ways your children can put their money to work. Here are two of those ways:
#1 Have Your Children Pay for Their Extras
One thing most parents agree on is that children can be expensive! All the extras add up - sports, lessons, toys, games, the latest gadgets. All parents know this list can go on and on. Rather than paying for your children's extras with your after-tax dollars, have your children pay for their extras with their after-tax dollars. Your children's after-tax dollars are much cheaper than yours - especially if they are in a 0% tax rate!
What I love about this strategy is it reduces my taxes AND gives my children real life experience with managing their own finances.
#2 Have Your Children Fund a Roth IRA
Typically children do not have IRAs because in order to make a contribution to an IRA, the IRA owner must have earned income. Since most children do not have earned income, an IRA is not an option.
When you have your business hire your children, not only do you have the opportunity to reduce your taxes, but you have also created the opportunity for your children to contribute to an IRA. Once your children have earned income, they are eligible to contribute to an IRA.
In most cases, I find that a Roth IRA is a better fit for children than a traditional IRA. One reason is because distributions from a Roth IRA are tax-free. In a traditional IRA, distributions are taxable income. This means that all the income earned in a Roth IRA will never be taxed! Of course, the rules of the Roth IRA must be followed to receive this treatment but I find that most of the time, the rules of the Roth IRA are easier to follow than those of a traditional IRA.
The power of time is huge in this strategy because even modest contributions to a Roth IRA at a young age can grow to a substantial balance by the time your children are even just middle aged! Add to that the tax-free nature of the Roth IRA and it's easy to understand why this strategy can be so powerful for your children.
Another reason I like the Roth IRA for children is that there are several exceptions to the early withdrawal penalty (which can make Roth IRA earnings and contributions taxable). These exceptions provide opportunity for your children to take distributions without penalty long before they reach retirement age.
Tom Wheelwright is not only the founder and CEO of Provision, but he is the creative force behind Provision Wealth Strategists. In addition to his management responsibilities, Tom likes to coach clients on wealth, business, and tax strategies. Along with his frequent seminars on these strategies, Tom is an adjunct professor in the Masters of Tax program at Arizona State University. For more information, visit http://www.provisionwealth.com
Article Source: http://EzineArticles.com/?expert=Thomas_Wheelwright
Choosing the Right Broker For Your Needs
What we want is a kindly figure who will listen intently to our financial history and then harness extensive knowledge, experience and a measure of second sight to draw up a plan guaranteeing us a happy and secure life. Not too much to ask is it? Well, such individuals do exist.
They are called personal accountants, and those who, measure up to the description above don't come cheap. They are not to be confused with financial advisers, who will be happy to select a suitable product for you in a particular field, such as investment or insurance.
Don't expect a personal accountant to change your life; they may save you some legwork, and perhaps that the rap if things go wrong. After all, pensions and endowment policy miss selling really did happen. But that begs the question: is there really such a thing as objective advice out there? How much does it cost, and can anyone do much more than lick a finger and stick it up to the wind? First, let's pin down who's who.
FINANCIAL ADVISERS
'Financial advisers' is a term that embraces several species- Independent Financial Advisers (IFA), tied agents, appointed representatives and brokers. While it might seem blunt, one of your first questions to anyone offering information or advice should be:
" What are you?" advisers must tell you clearly what their interest is."
INDEPENDENT FINANCIAL ADVISERS
IFAs, as their name suggests, should be in a position to look at any companies or products on the market and find those that suit you best. IFAs who advise on investments, such as shares and collective funds, pensions, or equity-based life insurance, must be authorised by the Financial Services Authority (FSA) and abide by its regulations.
IFAs who advise only on loans, mortgages, non- investment-based insurance or bank and building society accounts do not have to be FSA-authorised and are covered by separate code of practice, depending on their area of expertise. Many of these advisers are due to be regulated by the FSA from 2004.
TIED AGENTS
Don't expect tied agents to check out the whole spectrum of products on your behalf. They usually advise on those of a single company (except in case of stakeholder pensions, where they can 'adopt' the offerings of other providers), so should at least know their products thoroughly. They may be employed by the provider, or simply act as agent and collect commission on sales. Banks and Building societies, estate agents and travel agents often act as tied agents. As with IFAs, tied agents are expected to make the effort to understand your requirements and to politely turn away if none of their products is suitable. Yes, honestly!
APPOINTED REPRESENTATIVES
Here's where the water starts to get muddier because appointed representatives are self-employed individuals who may act either as tied agents for a particular company, or for a firm of IFAs. If it's the latter, they can easily give the impression of being IFAS in their own right, but it is illegal for them not to be straight with you about their status.
BROKERS
Brokers again may have ties with certain companies or be independent. They normally specialise-often in investments, insurance or mortgages- and will, therefore, claim to have the greater knowledge than IFAs, who may cover a wide range of financial products.
Some product providers will deal only through brokers, because it saves them a high-street presence and they can, in theory, pass their savings in overheads on to you. Many brokers also form relationships with providers, which allows them to obtain products at preferential rates. If not regulated by the FSA they are covered by bodies such as the Mortgage Code Compliance Board.
DISCOUNT BROKERS
Further confusing the issue when it comes to investments are discount brokers. They operate on an execution-only' basis, which means they are not allowed to offer more than general information on products, as opposed to individual advise tailored to your own circumstances. Their selling point is that they rebate all or part of their initial commission when you buy a product such as a ISAs, making their money later on renewal commissions from the provider. Discount brokers may also act as IFAs and offer personal advice, but you can't then claim discounts.
So you need help to find a particular product-who you should you consult? For collective-fund investments or pensions, choose an authorised IFA or an appointed representative for a firm of IFAs. For mortgages, you may be best approaching specialist brokers, but check whether they are independent or tied to particular companies.
Liza Mathers writes for Seek4finance. Our visitors can apply online for a range of personal finance, solutions including personal loans, mortgages, credit cards, savings, current accounts and investment information. Visit http://www.seek4finance.co.uk today.
Article Source: http://EzineArticles.com/?expert=Liza_Mathers
They are called personal accountants, and those who, measure up to the description above don't come cheap. They are not to be confused with financial advisers, who will be happy to select a suitable product for you in a particular field, such as investment or insurance.
Don't expect a personal accountant to change your life; they may save you some legwork, and perhaps that the rap if things go wrong. After all, pensions and endowment policy miss selling really did happen. But that begs the question: is there really such a thing as objective advice out there? How much does it cost, and can anyone do much more than lick a finger and stick it up to the wind? First, let's pin down who's who.
FINANCIAL ADVISERS
'Financial advisers' is a term that embraces several species- Independent Financial Advisers (IFA), tied agents, appointed representatives and brokers. While it might seem blunt, one of your first questions to anyone offering information or advice should be:
" What are you?" advisers must tell you clearly what their interest is."
INDEPENDENT FINANCIAL ADVISERS
IFAs, as their name suggests, should be in a position to look at any companies or products on the market and find those that suit you best. IFAs who advise on investments, such as shares and collective funds, pensions, or equity-based life insurance, must be authorised by the Financial Services Authority (FSA) and abide by its regulations.
IFAs who advise only on loans, mortgages, non- investment-based insurance or bank and building society accounts do not have to be FSA-authorised and are covered by separate code of practice, depending on their area of expertise. Many of these advisers are due to be regulated by the FSA from 2004.
TIED AGENTS
Don't expect tied agents to check out the whole spectrum of products on your behalf. They usually advise on those of a single company (except in case of stakeholder pensions, where they can 'adopt' the offerings of other providers), so should at least know their products thoroughly. They may be employed by the provider, or simply act as agent and collect commission on sales. Banks and Building societies, estate agents and travel agents often act as tied agents. As with IFAs, tied agents are expected to make the effort to understand your requirements and to politely turn away if none of their products is suitable. Yes, honestly!
APPOINTED REPRESENTATIVES
Here's where the water starts to get muddier because appointed representatives are self-employed individuals who may act either as tied agents for a particular company, or for a firm of IFAs. If it's the latter, they can easily give the impression of being IFAS in their own right, but it is illegal for them not to be straight with you about their status.
BROKERS
Brokers again may have ties with certain companies or be independent. They normally specialise-often in investments, insurance or mortgages- and will, therefore, claim to have the greater knowledge than IFAs, who may cover a wide range of financial products.
Some product providers will deal only through brokers, because it saves them a high-street presence and they can, in theory, pass their savings in overheads on to you. Many brokers also form relationships with providers, which allows them to obtain products at preferential rates. If not regulated by the FSA they are covered by bodies such as the Mortgage Code Compliance Board.
DISCOUNT BROKERS
Further confusing the issue when it comes to investments are discount brokers. They operate on an execution-only' basis, which means they are not allowed to offer more than general information on products, as opposed to individual advise tailored to your own circumstances. Their selling point is that they rebate all or part of their initial commission when you buy a product such as a ISAs, making their money later on renewal commissions from the provider. Discount brokers may also act as IFAs and offer personal advice, but you can't then claim discounts.
So you need help to find a particular product-who you should you consult? For collective-fund investments or pensions, choose an authorised IFA or an appointed representative for a firm of IFAs. For mortgages, you may be best approaching specialist brokers, but check whether they are independent or tied to particular companies.
Liza Mathers writes for Seek4finance. Our visitors can apply online for a range of personal finance, solutions including personal loans, mortgages, credit cards, savings, current accounts and investment information. Visit http://www.seek4finance.co.uk today.
Article Source: http://EzineArticles.com/?expert=Liza_Mathers
Securing a Remortgage Deal in the Credit Crunch
In the midst of the credit crunch, a reduction in the amount of credit available to borrowers is not the only problem currently facing consumers. Any remortgage deal or other loan, and especially short term debts, have generally become more expensive over the last year.
Many of us have racked up credit card debts in the spending boom, and are now feeling the pinch. Faced with high credit card repayments and ever increasing costs of living, rising food and fuel prices, many individuals are struggling to make ends meet and are using their store and other credit cards as a way of securing short term borrowing.
This is demonstrated by examining the most recent data on consumer spending on credit. Spending on store and other credit cards in the UK has soared to an average of £45 million every month, putting many households under increasing pressure to meet monthly repayments.
Securing a remortgage deal to release equity in a home to can relieve the pressure caused by short term debt; by paying off credit cards and loans with capital released by remortgaging, monthly debt repayments can be more affordable overall: released equity can be used to clear credit card debts and other short term loans reducing net monthly payments, but at the expense of acquiring additional long term mortgage debt.
However, taking out a remortgage deal it is not an option to stumble into blindly: taking expert remortgage advice is critical to ensure that a remortgage deal is affordable and will leave a borrower's day to day finances in a more manageable state.
Finding a company that offers the services of an independent financial advisor is also recommended; not only can mortgage advisors provide consumers with remortgage advice, they can also work with their clients to carefully assess the borrower's personal finances and guide them on the affordability of any remortgage deal.
An independent mortgage advisor can put forward all deals that match a prospective borrower's requirements, and will gather and compare a mortgage quote from the most suitable providers for their client to consider. But in an environment where credit is more difficult to get, is it still possible to secure a good remortgage deal?
The answer is yes.
Contrary to popular belief there are still plenty of remortgage deals available in the market; total mortgage lending in July totaled £4.3billion, only slightly lower than the previous six-month average figure of £4.8billion. For people with good credit records securing a good remortgage deal is unlikely to be a problem. For this reason, people seeking a remortgage deal should take active steps to maintain their credit rating while gathering a mortgage quote.
Suitably qualified independent advisors with an expert knowledge of the market will be able to provide impartial remortgage advice as well as gathering a mortgage quote from each of the providers that offer a remortgage deal that meet their clients requirements. Consumers then face a difficult decision about whether to choose a fixed or variable interest rate.
For many individuals, choosing between a fixed rate or a variable rate mortgage deal may be a choice between future certainty of repayment costs, set against a possibility that a fixed rate remortgage deal may become more expensive that the market variable one.
There has never been a greater need for consumers to secure good independent remortgage advice when seeking a remortgage deal, to help them select the best possible mortgage quote for their circumstances. Affordability is an important consideration, as anyone considering taking out a new mortgage or other loan must remember that their home may be under threat if they fail to keep up repayments.
Julia Gleave is a writer and author for http://www.mortgagedealsdirect.co.uk We help you compare the vast number of UK mortgage deals to get you the best mortgage quote by taking into account mortgage repayment length, rates and mortgage types.
Article Source: http://EzineArticles.com/?expert=Steve_Clawley
Many of us have racked up credit card debts in the spending boom, and are now feeling the pinch. Faced with high credit card repayments and ever increasing costs of living, rising food and fuel prices, many individuals are struggling to make ends meet and are using their store and other credit cards as a way of securing short term borrowing.
This is demonstrated by examining the most recent data on consumer spending on credit. Spending on store and other credit cards in the UK has soared to an average of £45 million every month, putting many households under increasing pressure to meet monthly repayments.
Securing a remortgage deal to release equity in a home to can relieve the pressure caused by short term debt; by paying off credit cards and loans with capital released by remortgaging, monthly debt repayments can be more affordable overall: released equity can be used to clear credit card debts and other short term loans reducing net monthly payments, but at the expense of acquiring additional long term mortgage debt.
However, taking out a remortgage deal it is not an option to stumble into blindly: taking expert remortgage advice is critical to ensure that a remortgage deal is affordable and will leave a borrower's day to day finances in a more manageable state.
Finding a company that offers the services of an independent financial advisor is also recommended; not only can mortgage advisors provide consumers with remortgage advice, they can also work with their clients to carefully assess the borrower's personal finances and guide them on the affordability of any remortgage deal.
An independent mortgage advisor can put forward all deals that match a prospective borrower's requirements, and will gather and compare a mortgage quote from the most suitable providers for their client to consider. But in an environment where credit is more difficult to get, is it still possible to secure a good remortgage deal?
The answer is yes.
Contrary to popular belief there are still plenty of remortgage deals available in the market; total mortgage lending in July totaled £4.3billion, only slightly lower than the previous six-month average figure of £4.8billion. For people with good credit records securing a good remortgage deal is unlikely to be a problem. For this reason, people seeking a remortgage deal should take active steps to maintain their credit rating while gathering a mortgage quote.
Suitably qualified independent advisors with an expert knowledge of the market will be able to provide impartial remortgage advice as well as gathering a mortgage quote from each of the providers that offer a remortgage deal that meet their clients requirements. Consumers then face a difficult decision about whether to choose a fixed or variable interest rate.
For many individuals, choosing between a fixed rate or a variable rate mortgage deal may be a choice between future certainty of repayment costs, set against a possibility that a fixed rate remortgage deal may become more expensive that the market variable one.
There has never been a greater need for consumers to secure good independent remortgage advice when seeking a remortgage deal, to help them select the best possible mortgage quote for their circumstances. Affordability is an important consideration, as anyone considering taking out a new mortgage or other loan must remember that their home may be under threat if they fail to keep up repayments.
Julia Gleave is a writer and author for http://www.mortgagedealsdirect.co.uk We help you compare the vast number of UK mortgage deals to get you the best mortgage quote by taking into account mortgage repayment length, rates and mortgage types.
Article Source: http://EzineArticles.com/?expert=Steve_Clawley
วันจันทร์ที่ 8 กันยายน พ.ศ. 2551
The Shocking Truth About Money and Banks!
If I were to lend you 100 pounds, I would take the physical money out of my pocket, or the bank. I might even write you a cheque. The key point though, is that I would have had 100 pounds, then, when I lent it to you, I wouldn't have it any more. If I lend you a hammer, I would first have to have a hammer, then I could give it to you and you could use it.
So, it would make sense then that when a bank lends you some money that it takes money that it has in it's vaults (or at least on it's books as most money doesn't now actually exist in physical form, It is just numbers in a computer.) and hands it over to you. To compare it to the example of me lending you 100 pounds, the bank would first have had 100 pounds with which it could do as it liked. Then, it would give that money to you and so, wouldn't have it any more. The bank would be 'missing' that 100 pounds until you paid it back.
Obviously, that is the only way it could work and it is the way that it must work. WRONG! That is the only fair way that the system could work. If someone is going to lend you something, they must have that thing first. The Government creates money, the banks have large supplies of it because people deposit their money with them and the bank then loans it to you in order to charge interest. This is the way that most of us have assumed that it works and we have never been taught otherwise.
The truth is far more shocking and is actually so unbelievable that I don't expect you to take my word for it. I am going to provide you with links to more information so that you can learn more and prove to yourself that this is how it works.
When a bank lends you money, it creates that money out of thin air! Yes, you read that correctly. Before you ask to borrow some money, that money doesn't exist. When the bank agrees to your loan, it simply conjures it into existence and gives it to you. The bank hasn't built, grown or created anything of value but it still gets to charge you interest on that money that it simply created.
This system is almost exactly the opposite of how you would think it should work. When the money is loaned out, it is created and when it is paid back, it ceases to exist as it is written off the bank's balance sheet. The bank gets to keep the interest on the money that it made up though! This poses a big problem for everyone because if all the money is created like this (which it is) then where does the money to pay the interest come from. Have you ever wondered why we have inflation?
I could keep going all day with this but there is a great video that explains all this and what you can do about it. There are also links to find out more from independent sources and to see evidence if you still don't believe.
Philip McClarence has extensive experience in Finance, debt and money. Visit his website Debt Consolidation Non Profit to learn more.
Check out the video here: Where did the national debt come from?
Article Source: http://EzineArticles.com/?expert=Philip_McClarence
So, it would make sense then that when a bank lends you some money that it takes money that it has in it's vaults (or at least on it's books as most money doesn't now actually exist in physical form, It is just numbers in a computer.) and hands it over to you. To compare it to the example of me lending you 100 pounds, the bank would first have had 100 pounds with which it could do as it liked. Then, it would give that money to you and so, wouldn't have it any more. The bank would be 'missing' that 100 pounds until you paid it back.
Obviously, that is the only way it could work and it is the way that it must work. WRONG! That is the only fair way that the system could work. If someone is going to lend you something, they must have that thing first. The Government creates money, the banks have large supplies of it because people deposit their money with them and the bank then loans it to you in order to charge interest. This is the way that most of us have assumed that it works and we have never been taught otherwise.
The truth is far more shocking and is actually so unbelievable that I don't expect you to take my word for it. I am going to provide you with links to more information so that you can learn more and prove to yourself that this is how it works.
When a bank lends you money, it creates that money out of thin air! Yes, you read that correctly. Before you ask to borrow some money, that money doesn't exist. When the bank agrees to your loan, it simply conjures it into existence and gives it to you. The bank hasn't built, grown or created anything of value but it still gets to charge you interest on that money that it simply created.
This system is almost exactly the opposite of how you would think it should work. When the money is loaned out, it is created and when it is paid back, it ceases to exist as it is written off the bank's balance sheet. The bank gets to keep the interest on the money that it made up though! This poses a big problem for everyone because if all the money is created like this (which it is) then where does the money to pay the interest come from. Have you ever wondered why we have inflation?
I could keep going all day with this but there is a great video that explains all this and what you can do about it. There are also links to find out more from independent sources and to see evidence if you still don't believe.
Philip McClarence has extensive experience in Finance, debt and money. Visit his website Debt Consolidation Non Profit to learn more.
Check out the video here: Where did the national debt come from?
Article Source: http://EzineArticles.com/?expert=Philip_McClarence
Back to Financial School
Can it be?! It's hard to believe, but millions of people are preparing to go back to school already. Speaking of which I've noticed how Financial Literacy programs are beginning to pop up in schools now. At last! Maybe Home Economics (am I dating myself?) will take on a whole different meaning?
Who taught you, consciously or unconsciously about money; parents or guardians, relatives, neighbors, friends and bosses?
How and what did they teach you?
All of us began learning about money somewhere around the age of 2-4 years old, by absorbing what those around us said and felt about it. How did your parents/guardians handle money? Was there tension in your household around it or were you surrounded by people who spoke openly and caringly about it? How did people speak about money (i.e. "Money doesn't grow on trees", "Marry someone with money", "Filthy Rich")? Did it flow from a place of generosity or scarcity?
Think about the 5 people you spend the most time with and look at their relationship to money. We can tend to surround ourselves with people who hold similar emotional patterns, so when you are transforming your relationship to money, seek out people who embody and have already created what you want in your life as you can learn a lot from them. If you recognize a characteristic in someone else that doesn't agree with you, consider the fact that it might resonate with you because you carry similar qualities. This is not necessarily easy to hear, but if you decide to learn from it, your awareness level will take a big leap forward.
I say, Your Money, Your Mirror, as healing your relationship with money ultimately starts with self-knowledge. When you become more self aware, you can then create conscious actions that serve your best interests at heart.
Think about some of the questions. Observe what memories and feelings come up and see what you learn from them.
Here's to your nourishing education!
Article Source: http://EzineArticles.com/?expert=Helen_Kim
Who taught you, consciously or unconsciously about money; parents or guardians, relatives, neighbors, friends and bosses?
How and what did they teach you?
All of us began learning about money somewhere around the age of 2-4 years old, by absorbing what those around us said and felt about it. How did your parents/guardians handle money? Was there tension in your household around it or were you surrounded by people who spoke openly and caringly about it? How did people speak about money (i.e. "Money doesn't grow on trees", "Marry someone with money", "Filthy Rich")? Did it flow from a place of generosity or scarcity?
Think about the 5 people you spend the most time with and look at their relationship to money. We can tend to surround ourselves with people who hold similar emotional patterns, so when you are transforming your relationship to money, seek out people who embody and have already created what you want in your life as you can learn a lot from them. If you recognize a characteristic in someone else that doesn't agree with you, consider the fact that it might resonate with you because you carry similar qualities. This is not necessarily easy to hear, but if you decide to learn from it, your awareness level will take a big leap forward.
I say, Your Money, Your Mirror, as healing your relationship with money ultimately starts with self-knowledge. When you become more self aware, you can then create conscious actions that serve your best interests at heart.
Think about some of the questions. Observe what memories and feelings come up and see what you learn from them.
Here's to your nourishing education!
Article Source: http://EzineArticles.com/?expert=Helen_Kim
Online Auto Loans - Dive Into the World of Easy and Fast Loans to Gift Yourself With a Vehicle
As we are becoming more and more internet addictive, society from all its aspect is changing in the same direction. It is now easier to get the loans for buying a car without much time wasting and credit check. The online auto loans no credit check is available online.
The loans are faster than other loans. The procedure involved is easy and less time consuming. No credit check is done. This leaves you tension-free and you do not need to worry about your bad credit score. The loans are unsecured and that is why no collateral or security of any kind is kept against the loan amount. Neither your vehicle is at risk which can be confiscated by the lenders in case of non-repayment of the amount by the borrowers.
The interest rate is higher in the online auto loans no credit check. The high rates of interest are used as the security by the lenders as no credit check is done. This makes the tenure of repayment short and the lender is relieved.
The procedure is just surfing the lenders website for different lenders offer different interest rates and repayment deals. Try to find the best deal in online auto loans no credit check. You will have to submit a form provided to you by the websites. This is the only formality required for the approval of the loan.
However, to avail yourself the online auto loan no credit check, you will need to have certain things. They are valid driving license and income proof. Other than this no other procedure is involved like time consuming paper works in traditional loans.
These are available online. The online lenders offer you suitable interest rates and repayment schemes. But in this case, one must be cautious enough regarding which lender to choose. It is your responsibility to find the best deal for you.
Frank Dervin completed his Masters in Finance from Oxford University, he undertook to provide useful advice through his articles that have been found very useful by the residents of the US. To find Auto Loan Poor Credit, Bad Credit Auto Loan, Refinance Auto Loan visit http://www.advancedautoloan.com
Article Source: http://EzineArticles.com/?expert=Frank_Dervin
The loans are faster than other loans. The procedure involved is easy and less time consuming. No credit check is done. This leaves you tension-free and you do not need to worry about your bad credit score. The loans are unsecured and that is why no collateral or security of any kind is kept against the loan amount. Neither your vehicle is at risk which can be confiscated by the lenders in case of non-repayment of the amount by the borrowers.
The interest rate is higher in the online auto loans no credit check. The high rates of interest are used as the security by the lenders as no credit check is done. This makes the tenure of repayment short and the lender is relieved.
The procedure is just surfing the lenders website for different lenders offer different interest rates and repayment deals. Try to find the best deal in online auto loans no credit check. You will have to submit a form provided to you by the websites. This is the only formality required for the approval of the loan.
However, to avail yourself the online auto loan no credit check, you will need to have certain things. They are valid driving license and income proof. Other than this no other procedure is involved like time consuming paper works in traditional loans.
These are available online. The online lenders offer you suitable interest rates and repayment schemes. But in this case, one must be cautious enough regarding which lender to choose. It is your responsibility to find the best deal for you.
Frank Dervin completed his Masters in Finance from Oxford University, he undertook to provide useful advice through his articles that have been found very useful by the residents of the US. To find Auto Loan Poor Credit, Bad Credit Auto Loan, Refinance Auto Loan visit http://www.advancedautoloan.com
Article Source: http://EzineArticles.com/?expert=Frank_Dervin
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