|
|
|
Adjustable Rate Mortgage Loans - Understanding The Basics
Adjustable rate mortgages (ARM), developed when mortgage
interest rates were high, can help you finance the purchase of a
home with low interest rates. An ideal choice for those who
expect their income to rise or move in a couple of years, an...
Are Student Loans Better Than Credit Cards?
When applying for student loans, it's so important for
prospective college students to calculate their finances as best
they can to receive the appropriate funding. From tuition and
books to room and board, living expenses and food,...
Bridging loans - fulfilling financial shortfall between real estate transactions
You are trying to buy a new property and selling the current one to raise money for the new purchase. It is usually difficult corresponding sale of one property with the buying of another. This almost always leads to financial gap. For this...
Personal Loans for unemployed - liberating you from the tangles of unemployment
Like most of the contingencies (the after effects of unemployment safely allow it to be categorised into a contingency), one is rarely prepared enough to face the inconveniences being forced upon by unemployment. And within months of losing job,...
Student Debt and Student Loans
The statistics show that more and more students are graduating
from university with significant debt. The debt levels are
growing year on year and many students will be paying them off
for years after they graduate. It seems that the...
|
|
| |
|
|
|
|
|
|
Self Employed Loans- Ideal source of finance for self-employed
Making a mark for oneself in the competitive world of business
is tough. Especially for people in UK who are self employed and
don't have access to that extra sum of money that can make the
task easier. But, where can they get that money from? Well, the
answer to this question can be easily traced with the
introduction of self employed loans in the loan market.
Self employed loans are tailored to meet the financial needs of
self employed people. They may need funds to expand or to start
a new business. Self employed people are identified as people
who operate their own business as a sole owner or as a partner
or a profession. Independent consultants and contractors are
also classified as self employed.
There are different characteristics of self employed people that
differentiate them from the working group. Self employed people
have unstable income as profits vary from one period to another.
They do not have proof of their income.
In the past, it was difficult for self employed people to borrow
money from the market. The main reason behind this is that they
do not have a regular source of income; this seemed to pose a
big hindrance in the path of getting finance for investment.
But, now time has changed. With the entry of self employed loans
it has become easier for self employed people to get an easy
financial help. With the increasing number of people who prefer
to work for themselves, self employed loans have now become
affordable and widely available.
Self employed loans can be secured or unsecured one. Secured
self employed loans are secured against the collateral of the
borrower such as a car or a house. Unsecured self employed loans
are not secured by any collateral, thus involve a high interest
rate.
Some lenders in UK offer flexibility to the borrower by
accepting overpayment, underpayment and payment holidays. Let me
explain these terms which will make it easier for you to
recognize the benefits of taking a self employed loans.
Overpayment imply that a borrower pay more money for a month
than the amount due. While underpayment is just the opposite of
overpayment, it gives the borrower the freedom to pay a lesser
amount in a month then the amount due. Payment holiday is
completely different from the two mentioned above. It allows a
borrower to skip a limited number of monthly payments after an
initial period
of regular payments.
Lenders of self employed loan assess borrower's income to
evaluate the amount of risk involved in lending money to the
borrowers. They assess the income of a loan applicant basically
by two ways:-
* Self Certification - In this case, a borrower self declare his
income and the lender do not insist on considering the audited
accounts. But there are some lenders who will need a borrower to
submit an accountant's certificate. This is a document signed by
a borrower's accountant that entail that borrower has sufficient
income to pay the monthly installments and the loan. Most of the
lenders supplement this information with evaluation of the
credit score of the borrower.
* Certified Accounts- Certified accounts of the borrower will be
issued by the borrower's accountant briefing the details of the
borrower's income on yearly basis.
Lenders can arrange self employed loans for homeowners or
tenants for any amount ranging from £3000 to £ 250,000. With the
competition increasing day by day in the loan market, lenders
are ready to provide the loan at low interest rate. Interest
rate is determined keeping all these in consideration amount to
be borrowed, borrower's credit history and the loan term.
A good credit score will definitely help a borrower to get a
loan for a larger amount at low interest rate. But, this loan is
not confined to good credit people only. Bad credit, CCJ or
bankruptcy cannot stop you from getting this loan; however you
may get it at a bit higher rate of interest.
Survival of the fittest is the trademark used in the world of
self employed people. But to survive one need to match pace with
the changing technology which is possible only when you have a
financial backup. Self employed loans give financial support to
the self employed people so that they too can make a mark in the
competitive world and reach new heights of success.
About the author:
Amanda Thompson holds a Bachelor's degree in Commerce from CPIT
and has completed her master's in Business Administration from
IGNOU. She is as cautious about her finances as any person
reading this is. She is working as financial consultant for
chanceforloans .To find a Personal loans,bad credit loans,Debt
consolidation,home equity loans at cheap rates that best suits
your needs visit http://www.chanceforloans.co.uk
|
|
|
|
|
| Cheap Loans | car, personal & secured homeowner loans ... |
| Compare over 400 UK personal (unsecured) and secured homeowner loans, including car loans, to find the cheapest deals... |
| www.moneysupermarket.com |
|
| E-LOAN: Mortgage Refinance, Home Equity, Auto Loans, Savings ... |
| E-LOAN offers home mortgage, refinance, home equity loans, lines of credit, auto and motorcycle loans, savings accounts and CDs with great rates online. |
| www.eloan.com |
|
| Loan Center - Yahoo! Finance - News, Education, Daily Rates and ... |
| Loan Center - The Yahoo! Finance Loan Center provides useful tips, calculators, and rate data to help you choose an auto loan, mortgage, or personal loan ... |
| loans.yahoo.com |
|
| FREE LOANS QUOTE - the customers champion. Finding you the right ... |
| COMPARE! Let us get you a loans quote with minimal fuss. We're the UK specialists. |
| www.moneyweb.co.uk |
|
| Personal Any Purpose Loans : Loans.co.uk : Personal Loans UK |
| Offers consumer loans for any purpose in the United Kingdom. |
| www.loans.co.uk |
|
| FinAid | Student Loans |
| An education loan is a form of financial aid that must be repaid, with interest. ... The interest rate on the Stafford Loan for new loans first disbursed ... |
| www.finaid.org |
|
| GovLoans.gov - Find the Right Loan for You |
| GovLoans is a partnership of many Federal agencies and organizations with a shared vision - to provide improved, personalized access to government loan ... |
| www.govloans.gov |
|
| Loan - Wikipedia, the free encyclopedia |
| Bank loans and credit are one way to increase the money supply. ... Abuse in the granting of loans is known as predatory lending. ... |
| en.wikipedia.org |
|
| Mortgages, Refinance, Home Loans, Home Equity Loans at Quicken Loans |
| Online lender offers simplified residential loans and competitive mortgage rates. Headquarters in Livonia, MI. |
| www.quickenloans.com |
|
| Mortgage Loans - Compare Mortgage Rates - MSN Money |
| Get a mortgage loan that’s right for you. Compare mortgage loan rates of top lenders. |
| moneycentral.msn.com |
|
| The Student Loans Company Ltd. |
| Provides details of the Student Loans system which is part of the Government's financial support package for students. |
| www.slc.co.uk |
|
| Sallie Mae - Private Student Loans, Stafford, PLUS, Student Loan ... |
| Apply online for federal and private student loans, consolidate student loans; financial aid and scholarship information for college, graduate school and ... |
| www.salliemae.com |
|
| Loan Guaranty Service, Home Page (U.S. Department of Veterans Affairs) |
| This page provides content and information related to the Loan Guaranty Home Loan Program. |
| www.homeloans.va.gov |
|
| Fool.co.uk - Compare Loans - Personal Loans and Unsecured Loans |
| Compare over 200 UK loans including personal loans, secured loans, and unsecured loans. Search all loans and apply online. |
| www.fool.co.uk |
|
| LendingTree Home Loans | Refinance | Home Equity | Mortgage Refinance |
| Service network of lenders that enables consumers to compare rates, apply for and get approval for competitive auto loans online. |
| www.lendingtree.com |
|
| Direct Loan Home Page |
| The US Department of Education's lending arm for students in participating schools and student loan consolidation. |
| www.ed.gov |
|
| Personal, home equity loans for union members at Union Plus |
| Union Privilege offers Union Plus benefits -- including credit card, mortgage, loans, insurance, scholarships, health care savings and other discounts -- to ... |
| www.unionplus.org |
|
| Countrywide Financial - Home Loans - Equity Loan Mortgages ... |
| Countrywide Home Loans is the nations largest independent mortgage lender offering home equity, HELOC, refinance, mortgages, debt consolidation and other ... |
| my.countrywide.com |
|
| Secured Loans UK - Secured Personal Loans - accepted.co.uk |
| We search over 200 secured loan plans to find the best deal from our lenders - accepted.co.uk. |
| www.accepted.co.uk |
|
| UK Loans : Personal Loans, Secured Loans, Cheap Loan Quotes |
| The UK Personal Loan Store offers comparisons of the UK loans, personal and secured loans. Also offers tips, articles and latest loan news section. |
| www.ukpersonalloanstore.co.uk |
|
|