Moneynet Cautions Borrowers Not To Be Seduced By Attractive APR Hiding The Full Costs Of A Loan
(ContentDesk) November 9, 2005 -- Relying solely on advertised APR rates to choose the best deal on a loan could mislead borrowers into picking the most expensive product on the market rather than the cheapest, warns online financial data comparison site Moneynet.
(http://www.moneynet.co.uk )* Low APRs draw in borrowers but PPI pushes up repayments * Read the small print, cautions Moneynet Consumers are led to believe that the cheapest loan is the one with the lowest APR, said Moneynet Chief Executive Richard Brown. But this is far from the truth borrowers should be aware that a loan package does not always do what it says on the tin. The reason for this is that the APR simply reflects the cost of the credit without taking into account the cost of other add-ons such as payment protection insurance and early repayment penalties and its these extras that earn the loan provider their commission. This enables them to advertise what looks like a competitive rate to attract customers, said Brown. Then once the applicant is convinced they have found a great deal the commission-hungry provider will make every attempt to sell them PPI, thus increasing their margin via the back door. Moneynets message is clear borrowers should look beyond the APR and ensure they get all the facts before buying. No-one likes reading the small print but not bothering can mean a loan ends up costing a huge amount more than expected, added Brown.For example, a loan from the RAC of ?7,000 over five years at 6.5% will cost a reasonable ?137.93 per month whilst Nationwides 6.7% deal will cost ?136.97 - not much to choose between the two but add on the cost of
PPI
and the RAC monthly repayments leap to a whopping ?189.24 compared to Nationwides ?158.46. This means that the borrower pays a massive ?1,846 extra with the RAC over the term of the agreement.Payment protection insurance can be a lifesaver for those unfortunate enough to need it but can also be a very expensive white elephant if it doesnt pay out.
Consumers must understand exactly what they are covered for and the terms of the cover if they are to avoid paying for something which is of no benefit.Early repayment penalties can also be a sting in the tail. Its natural to only consider the present when applying for a loan the money is needed now but should it be possible in the future to pay the loan off early there will be no saving to be made if the small print demands a penalty. These ploys are not confined to a few small-time lenders, said Brown. Hiding behind the friendly faces of many of the high street institutions is the grim reality of commission-greedy providers lining their own pockets. About moneynetMoneynet.co.uk ( http://www.moneynet.co.uk ) is the UKs most established personal finance research and data website.
The company offers consumers a wide range of low cost financial products: from mortgages and personal loans; to car, home and medical insurance; credit cards; savings accounts and best-buy fixed rate products.
Moneynet.co.uk is an ethical, impartial and comprehensive source of consumer finance information, covering the whole of the personal finance sector.
Moneynet was founded in 1997 by Chief Executive Richard Brown to simplify the personal finance market and provide consumers with impartial and interactive information on financial products and services.Press and consumer enquiries:MoneynetContact: Richard Brown, Chief ExecutiveTelephone: 0208 313 9030Web: http://www.moneynet.co.uk Press distribution by bigmouthmediaContact: Rachel LaneTelephone: 0131 561 2251Web: http://www.bigmouthmedia.com.
Real Estate Investors - Don't Close Your Eyes To Closing Costs.
When buying or selling real estate closing costs can come as
a shock. Here's an explanation of the various expenses:
Down Payment
Most lenders require a down payment of from zero to 20% for
a normal home purchase.
Lender's Loan Origination Fee
Government regulations allow 1% origination fee on FHA or VA
loans. Conventional loan fees can vary from 1 to 3 points or
more. A point is 1% of the loan.
Appraisal Fee
About $300-$500. Non refundable.
Credit Report
$50-$60.
Non refundable.
Tax Service Fee
In some areas a charge of approximately $75 by a tax service
company to verify to lender that taxes are actually being
paid.
Assumption Fee
Fee of approximately $250 up to 1% of the loan balance charged
by existing lender for permission to assume existing loan.
Pest Inspection Fee ...
Auto insurance > Real Estate Investors - Don't Close Your Eyes To Closing Costs.
Trade Credit Insurer Predicts Significant Increase In U.S. Business Failures
(ContentDesk) July 26, 2006 -- After a substantial increase in 2005 and a decline in 2006, the number of business insolvencies in the US is predicted to climb once again in 2007, according to global trade credit insurer Euler Hermes. Worldwide, the Index predicts that business failures will increase by 3% in 2007 on the heels of a global economic slowdown.
(Note: To view charts related to the Business Failures Index, please request the full version of the release.) The Global Business Failure Index created by Euler Hermes to compare business failures by country, going beyond the national definitions and taking into account the size of the respective global economies predicts an 8% increase in US corporate insolvencies for 2007. The Index has fluctuated quite a bit in the past two years, showing a 14% increase in 2005 and a 5% decrease for 2006. The 2005 hike was caused by an increased number of businesses insolvencies in advance of the new bankruptcy laws, which took effect...
Auto insurance > Trade Credit Insurer Predicts Significant Increase In U.S. Business Failures
SAVAGE & ASSOCIATES LAUNCHES IMPRESSIVE NEW BRANDING CAMPAIGN Integrated Print, Radio and Outdoor Ads, Plus New Website, Showcase the Firm?s Expanding Services and Growth
Toledo, OH (ContentDesk) June 5, 2004--"Protection From the Storms of Life?" is the theme of a dynamic, new integrated branding campaign recently launched by Savage & Associates, Inc., one of the nation's largest full-service insurance and financial services firms.The integrated print, radio and outdoor campaign debuted across northwestern Ohio with 60-second spots on regional AM and FM radio, including local National Public Radio affiliates, plus half- and quarter-page page ads in regional consumer and business publications, and in select national trade magazines. The campaign includes billboard advertising in Toledo and launch of a user-friendly, new Savage & Associates website at "savageandassociates.com". Daniel N. Steinberg, Co-President of Savage & Associates, said, "The Savage name is very well known. We believe the theme "Protection From the Storms of Life" complements our firm's growth and expanding range of financial services and insurance products for people and businesses...
SAVAGE & ASSOCIATES LAUNCHES IMPRESSIVE NEW BRANDING CAMPAIGN Integrated Print, Radio and Outdoor Ads, Plus New Website, Showcase the Firm?s Expanding Services and Growth
Auto insurance > SAVAGE & ASSOCIATES LAUNCHES IMPRESSIVE NEW BRANDING CAMPAIGN Integrated Print, Radio and Outdoor Ads, Plus New Website, Showcase the Firm?s Expanding Services and Growth
MC Strategies and Academy for Healthcare Management (AHM) Form Partnership - Alliance will provide web delivery of AHM?s extensive courseware library.
Atlanta, GA (ContentDesk) May 5, 2004 -? MC Strategies, Inc., a leader in providing Web-based learning solutions for healthcare and the Academy for Healthcare Management (AHM), a leading healthcare professional education organization, announced today they have formed a strategic partnership. Under the terms of this alliance, MC Strategies' WebInservice? on-line learning division will deliver AHM's comprehensive library of education courses and exam administration via the Internet.The Academy for Healthcare Management offers healthcare professionals online learning opportunities to develop insights into the complexities of the marketplace. Developed by experts in the field, AHM's comprehensive library and professional designation curricula fit the needs of learners through a flexible self-study, format. AHM's core and comprehensive libraries address both the breadth and depth of essential elements of healthcare management in today's changing environment. AHM strives to improve healthcare...
MC Strategies and Academy for Healthcare Management (AHM) Form Partnership - Alliance will provide web delivery of AHM?s extensive courseware library.
Auto insurance > MC Strategies and Academy for Healthcare Management (AHM) Form Partnership - Alliance will provide web delivery of AHM?s extensive courseware library.
Auto insurance
This page loaded in 0.01912 seconds.