Popular Mortgage Products Explained Including Fixed and Variable Mortgages & Their Comparative Cost

With there being such a spectrum of products being available in the mortgage market I thought I would explain some of the most popular ones available.

Variable Rate Mortgages

Standard Variable Rate

Considered to be one of the most popular types of mortgage available, the interest charged on the loan varies throughout the term of the mortgage. The rate charged on the mortgage varies due to many influencing factors such as: competitor’s rate, Bank of England (BOE) base rate and general market forces.

The Standard Variable mortgage rate fluctuates with influencing factors; therefore these mortgages are not suitable for those who like to know what their fixed payments will be over a long period of time. Those borrowers in particular would opt for a fixed or capped mortgage product.

Tracker Mortgages

Put simply a tracker mortgage is a Standard Variable Rate mortgage that “tracks” an index. This is usually the form of the Bank of England (BOE) base rate or the London Interbank Offer Rate (LIBOR).

These mortgages are perfect for those who can afford to take a risk on monthly outgoings as while they may pay a higher rate when the base rate is increased, during times of low base rates they will benefit from savings made on the lower interest rate.

Fixed Rate Mortgages

A Fixed Rate mortgage  mortgages] is a rate agreed between the customer and lending institution  for a period of time “Fixed Rate Period” The fixed rate is perfect for those who like to know exactly how much money is coming out of their account each month for a known period of time, thus allowing them to keep a steady grip on their finances.

Most fixed rate mortgages require an arrangement fee so this must be taken into consideration of the true cost of the mortgage.

Prior committing to a fixed rate mortgage the borrower should consider future trends in interest rates, their household income and early repayment charges.

Capped / Collared Mortgages

By having a capped rate mortgage the interest rate charged is guaranteed not to rise above a contracted percentage during the fixed term period. The collared aspect applies the opposite; when rates drop the interest charged will not fall beneath a contracted percentage.

Variable Rate Mortgage Cost .Vs. Fixed Rate Mortgage Cost

There is no true way to say which of the two is the cheapest or most expensive as both carry their individual fees.  It is truly down to the borrowers attitude to risk which will determine the true cost personally to them as a debt which they have carried over a long period of time.

Those who are risk adverse are best suited to the variable rate mortgage products as they are willing to take the highs with the lows as both can be very respectively beneficial or detrimental. Those who are not risk adverse and are more regimental with their outgoings a fixed product with the flexibility of overpayment’s would suit them very well.

Credit One Debt Solutions for Christian Businesses – The Best Option for Getting Out Of Debt

Many Christians around the world have fallen in debt today. While governments spend money they don’t have, the world economy is on the verge of collapse. Interest rates have started to climb, prices are on the rise and this leaves even more people with huge debt. Credit Cards are maxed out, loans and mortgages are beyond what people can afford and are forcing many Christians to take on a second job or look for other means to earn income. There are even some Christians who are working three different jobs just to make ends meet. This is causing much stress in the families and in the homes. They are spending all their time just to keep things afloat and have no time for their families let alone any spare time for themselves.

Things have gotten out of control and the Bible states “neither a borrower or lender be.” Now, it is even more complicated for Christian businesses because the cost to run a business keeps going up and the profit margins going down. This is causing most businesses to get further in debt just to pay their operating expenses. Many are seeking help from Credit one debt solutions for Christian Businesses. This can be a business which focuses on debt consolidation for businesses.

Debt Consolidation is One Solution

If you are one of the Christians that find themselves up to their heads in debt, or if you are looking for a real way to help thousands of people, than Credit One Debt Solutions for Christians can help you. The Bible commands us to live a debt-free lifestyle and many Christians find themselves unable to do so. This program offers expert advice regarding financial matters and shows you how to cut costs and shows you have to save money while paying off your existing debts.

    • Credit One Debt Solutions for Christian Businesses will show you how to take all of your debt on credit and consolidate it into one monthly payment. The consolidation company will than makes all of your debt payments for you. This takes all the pressure of paying all those bills.
    • They negotiate for lower monthly payments, lower interest rates which allows you to pay off your debt much quicker.
    • They have a debt repayment plan which enables you to learn how to pay off all of your debt as they walk you through each step of their plan.
  • Credit One Debt Solutions for Christian Businesses also offers you free debt counseling which not only helps you keep on track with paying off all of your debt, they also enable you to stay out of debt while staying true to your principles and values. Their expert advice will teach you sound Christian principles of how to stay debt free even in hard times.

Becoming Debt Free

The ultimate lifestyle is to have no debt and this includes your home. Credit One Debt Solutions for Christian Businesses main goal is to do just that. They bring Christians back to the basics that if you don’t have the money to buy something than don’t. They teach you to save for emergencies and if you don’t really need it than don’t buy it. In our culture today we are enticed in many ways to buy things that we don’t need or will ever use. Their goal is to get you out of debt as quick as possible and then to remain debt free. They also help you plan a budget in which you can live on and help you get rid of some nasty habits about spending.

Achieving Debt free Status

The idea behind Credit One Debt Solutions for Christian Businesses is not to give you a hand out that will bail you out of debt. Instead, it is a solution, which encourages prudence in matters touching on your finances. Their aim is to help you get out of your immediate debt trap, and help you remain debt free. Therefore, their program emphasizes on good spending habits. They encourage you to always come up with a budget as an individual, family, or business and help you learn to stick to it. They also encourage that you find alternate sources of income such as Credit One Debt Solutions for Christian Businesses where you can work from home to market their programs. This will allow you to earn more money, without sacrificing any of your family time. As Christians we should have all of our priorities in order as well as our finances. Credit One Debt Solution for Christian Businesses is a well-organized company that has their heart in the right place to help others who can’t help themselves.

You must learn more about Credit One Debt Solutions for Christian Businesses along with some marketing secrets.Thomas Freers is an Online Marketing Coach for what is arguably the World’s Largest Internet Marketing School available today. He specializes in Article Marketing, Social Media networking and various other marketing strategies and works with small and large companies to help them customize their marketing campaigns.

Conduct an Auto Loan Comparison Before Taking Out Car Finance

If you are looking for car finance then it is important that you take the time to find a quality lender who is able to offer you the best rate. One of the quickest and easiest ways to shop around for your finance is by using auto loan comparison websites. These sites allow you to get information about the different rates offered by a large number of lenders so that you can begin finding companies that boast the lowest interest rates around.

There are many different websites that can give you an auto loan comparison. These can be information websites on car finance, auto loan brokers, review sites or those that offer financial services. It is important that you realize, however, before taking the information on an auto loan comparison site as gospel, that all of these sites will often have their own agendas and so you should use the information they offer as a guide only. You should use these websites to give you an idea of the interest rates offered by the different lenders in order to conduct an independent auto loan comparison.

Conducting your own comparison is an important step when it comes to securing your car finance. The interest rates on car loans will vary somewhat between lenders and so it is crucial that you spend some time looking at the rates offered by a large number of bank and non-bank lenders. In today’s market it is possible to find great deals on car loans but you will only do this if you spend the time doing an auto loan comparison.

One of the first places you can begin when carrying out an auto loan comparison is with your own bank or financial institution. This will give you an idea of the rates that the larger lenders are offering so that you can compare these with what the non-bank lenders that you will be able to access online.

Once you have established how much the major players in the market are offering on car finance you can begin searching online for a comparison of financing options for your vehicle. Many of the lenders that you will have access to on the internet will generally be non-bank lenders and so you will be able to compare the rates that they offer in order to get an idea of the difference in rates between the different types of loan providers.

While, naturally, price is an important consideration when getting car finance, but it should not be the only factor that determines whether or not you select a particular lender. When conducting an auto loan comparison you should also aim to compare the loan products offered, the service that these lenders provide as well as the additional fees and charges that they may apply to your loan, such as loan establishment fees and other charges that may be applied.

Your car loan will commit you financially for several years and so, before you sign on the dotted line, you should always conduct a good comparison to ensure that you are getting the best value for your money.