What Is Open Banking and How Can It Help Me Get A Loan?
- Posted in - My Financial Broker
Since January 2018 the nine major high street banks are required to allow current account customers to share their financial data. This new technology, called open banking, is creating new financial options for people. It does this by giving them a better understanding of their finances. Here we’ll explain why open banking is being used[…]
Continue ReadingTop 5 Alternative Savings Accounts
- Posted in - My Financial Broker
Saving money these days can be a challenge, especially with interest rates at their lowest. Though spending your hard-earned cash on things you actually want sound much better than leaving it in a cold dingy bank, it’s important to save little and often so you’re prepared for those unexpected expenses. Fortunately, we’ve found some alternative[…]
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Traditional Personal Finance Rules Revised
- Posted in - My Financial Broker
Some financial rules really survive the test of time. Don’t spend more than you earn, stick to your budget, save for retirement. However, some tips are outdated and plainly not valid in this day and age. These previously holly pieces of advice just do not stand in today’s economy and rapidly changing job market. Buy[…]
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Brokers Vs. Lenders: What They Do
- Posted in - My Financial Broker
Brokers and direct lenders have many things in common. Both of them conduct campaigns of advertising for attracting customers and both of them collect information on your financial status in order to decide whether to lend you money or not. Both can also help you to get a better understanding of the lending process and[…]
Continue ReadingThe Importance of Transparency From Lenders
- Posted in - My Financial Broker
Some financial institutions design their statement for hiding instead of revealing information. Consumers should stay away from lenders who do not have transparency in their business transactions. A lender without transparency represents a risk for consumers. In finance, a statement is transparent if the consumer can understand it clearly and easily. Since transparency is assurance,[…]
Continue ReadingWhat is Second Charge Lending?
- Posted in - My Financial Broker
Second charge lending or mortgage is a charge that has secondary priority behind your first charge. This second charge is a secured loan. This means that the charge uses your property as a security. Many borrowers use a second charge as a way to raise money instead of remortgaging. In order to get a second[…]
Continue ReadingFinding Money Fast
- Posted in - My Financial Broker
Life is filled with unexpected occurrences that sometimes seem to pop out of nowhere. Even the most prudent spender could face situations that require that they find money fast. A sick child or relative, a natural disaster such as severe flooding, a theft, accumulated outstanding bills and several other possible circumstances may require that one[…]
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Why Responsible Lending is Important
- Posted in - My Financial Broker
Responsible lending of long and short term loans is important for both lenders and borrowers for a number of reasons, and both have different responsibilities. Responsibilities of Lenders Lenders need to keep to financial regulations, in order to provide quality loan products and services. They should also strive for exceptional customer service. Borrowers need support[…]
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Investing in the Loan Market
- Posted in - My Financial Broker
Traditionally, many people think of investing as placing savings or lump sums into an investment vehicle. This could be a high-interest savings bank account, ISA, unit trust, bond or hedge fund. Other forms of investments include currency, property and artefacts. Investing in the loan market, such as in long or short-term loans, takes on a[…]
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