Posts Tagged ‘Loans’

Home improvement loans are indeed worth taking out. However, rather than using an independent loan company specialising in home owner loans, approach your bank or building society and take extra borrowing on your mortgage as their rates will often be much more favourable.

The reason that I think that home improvement loans are worth while is probably down to television programmes such as grand designs and property ladder.

Both give the indication that as long as you spend the money wisely this will almost immediately add value to your home far exceeding the initial outlay.

Not so much grand designs are they usually build houses on an epic scale, but certainly property ladder indicate that with a few subtle well spent changes here and there you will be quids in.

They often recommend, ensuite bathrooms, knocking down walls, open plan living spaces and new kitchens and bathrooms to increase the value of the property.


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Are you considering about availing a mortgage loan or refinancing of your existing mortgage loan? “Mortgage how much can I borrow” – are you loosing sleep over this question? Do you want to get an answer to the query? There are some elements that come into play for calculating how much loan you would be able to borrow.mortgage1

Important factors that determine how much mortgage you can borrow:

The first element is the value of your house. This would ascertain the amount of equity you possess and also help you get an idea about the highest amount of loan that you can borrow. For instance, if your house is valued at £300,000 and you owe £225,000 on the house, subsequently the highest amount that you are able to borrow in equity is £75,000.

The second element is your credit score. This would decide under which category you come. When you have a poor credit score, then you may not be eligible to borrow the amount to the extent that you could with a better credit score. This is figured out on the basis of a percentage system and the higher your credit score, the nearer you would be to 100% of the value of your home.
The final factor that the mortgage lenders take into account is your debt to income ratio. This is calculated by comparing your monthly payments for your automobile loan, mortgage loan, credit card debts and others mentioned in your credit report to your gross income amount. However, utility payments are not included. The highest debt to income ratio acceptable for the majority of lenders is 55%. The lesser your debt to income ratio, the higher you can borrow. The formula is quite easy which evaluates the risk of offering you a loan against the return. The poorer your credit score and the higher your debt to income ratio, the less is the possibility of getting the loan and the more is your rate of interest. This information should be sufficient to answer your question, “mortgage how much can I borrow?”

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Student loans should be used by only those who require this financial assistance.
The financial help a new full-time student can get depends on the course, where they live while they are studying, and their individual circumstances.

Committing yourself to debt is an important decision to make, and students should not see this as free money when they go to university, or an excuse not to get a part-time job during their studies. Many individuals have no choice but to opt for the student loan route, due to lack of help from parents, lack of savings or lack of employment during their studies. In this case, taking out a student loan may be the best option for these individuals. However, if you are in a position to plod on without taking out this loan, or getting involved with apparently cheap credit cards, then it is advised that you do so.

It is only when you reach a certain level of earnings that you have to start paying back your student loan, but this should be a warning to all students out there. As graduates struggle to find well paid jobs and get a foot on the housing ladder, the last thing you really need is to be hit with debt repayments to the student loans company when you start to earn.

The best advice is to be sensible. If parents can help you, then take it. In the long term it is worthwhile not to be burdened with the repayments. However if you do need this financial assistance then go for it, but ensure that you are prepared for the future implications on your earnings once you reach the threshold.

Please leave a comment after reading

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Students loan a must

I see student loans as a simple necessary part of being a student. It is completely acceptable among students to get the biggest loan possible in the knowing that you will just have to pay it back someday in the future. Its no big hassle, as most of us expect to be working in our desired fields on graduation. The rates are favourable and you dont have to pay it back all at once, you can literally pay it back at your leisure when your circumstances warrant being able to pay it back.

I spend my student loans on bits and pieces I need for my course, books, pens, pencils etc. It helps me with my rent and to a certain extent it subsides my rent sometimes and my student lifestyle which may or may not involve drinking on a school night. Student loans are there to give you an easy ride so why not enjoy it while you can.

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Student loans are the spawn of satan. I was unable to find a job after my studies were complete and I seem to have this huge loan hanging over my head. Because of the length of time that you are allowed to take the loan over it sits in the background until you are working and then bang your supposed to pay it back.

I understand that the rates are favourable, there isn’t really a rush to pay it back but just knowing its there for so long makes me feel particularly nervous.I like to be able to pay my own way, but a student loan was deemed to be the answers to all evils and wouldnt be any hassle at all.

For me its just a big mill stone around my neck and its a stress that I could live without when Im trying to find a decent job. In truth I never spent it on anything worthwhile, I borrowed more than I should of to pay the course materials and the day to day living and squandered more of it than I should of done.

I am truly paying the price for it now.

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Students loan

Student loans are definitely good, as a third year student its very hard to get through all the course work, hold down a day job and pay all your bills.

Without a student loan I would not be able to keep a roof over my head as I am studying away from home. I would not be able to afford the course materials and I would be eating pot noodles seven days a week rather the three days a week I am eating them just now.

I understand that I will have to pay it back one day, but by that time I will be in a good job with a reasonable salary and I will be in a position to do so. The long term nature and the low interest rate of the loan makes this an ideal way for me to get through my studies without putting myself into a dangerous debt elsewhere.

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