Blog | My Financial Broker

Renting with Bad Credit

Posted in - The Property Market

The number of landowners is falling fast. According to Natalie Elphicke, a housing expert, by 2041, only 49 percent of people will own their homes. This means that in 27 years, renting will become the norm. To Rent or To Buy To buy or to rent is a complex argument. Owning a home is a[…]

The Advantages of Short Term Loans

Posted in - Benefits of Short Term lending

The loans industry can be confusing, but is divided between long term and short term lending. A long term loan is typically characterised by offering amounts of over £5,000, whilst short term loans are designed to cover short term cash flow problems. If you’re running short of cash and need a small amount of money […]

5 Ways to Fix Your Finances

Posted in - Money Management Tips, Tricks & Advice

With the economic gloom showing no sign of lifting, stretching the average income to afford even the essentials is a continual challenge. To pay your way, applying for a loan is one answer, but it’s always worth looking at ways to pep up your finances without increasing your debts. So we’ve put together five ways[…]

Myths About Debt

Posted in - Help With Your Debts

Managing money isn’t easy. So getting into debt (and out of debt) is widely written about. But if you do an online search for ‘ways to get out of debt’ you’ll often be sent to websites offering to loan you money. And all debt is bad right? Well, not always – it’s how you handle[…]

Avoiding Pay Day Loan Debt

Posted in - Help With Your Debts

The Consumer Credit Counselling Service, have recently reported a threefold increase in the number of people applying to them for help with payday loan debt. Many companies within the payday loans industry do not file customer borrowing information with credit reference agencies, which makes it possible for customers to take out multiple loans. The net[…]

Payday Loans – What to Look Out For

Posted in - Payday Loans

Consumer groups and professional debt advice services have long been concerned about payday lenders. Vulnerable groups of society, many of whom have bad credit, and are on very low incomes, are often forced to turn to payday lenders as a last resort. Currently, more than one million people in the UK are borrowing from payday […]

Alternatives to Payday Loans

Posted in - Payday Loans

Massive APR rates, as well as high charges, have given payday loans a bad press and rightly so. Penalties for defaulting, increasing debts by rolling-over loans to the next month, and lack of responsible lending, leave customers caught in a never-ending payday loan trap. When you need funds in an emergency though, and friends or[…]

The Downside of Debt

Posted in - UK Finances

Taking out a loan is something most people have to do at some point in their lives. Borrowing can be a great way to finance a large purchase or tide you over for a time, but sometimes, debt can control you, rather you being in control of it. If your debts are unmanageable, then life[…]

Payday Loans – The Limitations

Posted in - Payday Loans

Small cash advances provided through payday lending are a form of short term loan. These loans are designed to help borrowers cover expenses until they receive their wages or salary. Payday loans do have limitations dictated by their terms and conditions, and by financial regulation. Limitations of Payday Loans While payday loans can be incredibly […]

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[…]