| Spring DIY fever is on the way - how will you pay?
Should you be considering home improvements? And if you decide to go ahead, how will you finance them? The obvious answer is to consider a personal loan - and there are plenty of good deals on the market - but since the improvements are tied up with the value of your home, you might find a better deal by remortgaging. Remortgaging tends to be the cheapest way that most of us can borrow money and, if youre going to be adding value to your property, it may well be the most sensible way of paying for home improvements. Remember that you can often take out additional borrowing on a different basis from your existing loan, perhaps borrowing a new tranche of cash with a discounted loan to add to the fixed rate offer you have already, or vice versa. An extra bathroom should pay for itself, as long as it does not replace a bedroom in a small house.
Don't Be Afraid Of Getting A Mortgage Online
No matter what your credit history is, or what your circumstances are, the Internet has made the home loan process much easier. This article will outline a five-point plan to assist you in your pursuit of financing online: Step 1: Don't be afraid to go shopping. Discussing personal mistakes in life can paralyze us with fear, namely, getting into the "bad credit" issues. But getting into this "stuff' is completely unnecessary in the preliminary phase of shopping for a loan, beyond the basic information provided in an online short-form. In other words, you don't really have to talk about the nitty-gritty details, until after a loan offer has been presented to you. So don't fret about it at first. Because we're on the subject, if you are a consumer with credit history issues, let me briefly take this opportunity to state the obvious: .
Stock Market Turmoil
Investors are being urged to keep their nerve amid a turbulent stock market, with optimists seeing the slide in the FTSE 100 in the last couple of weeks as nothing more than an overdue "correction" and an opportunity to buy shares . But the less confident are getting cold feet as the end of the tax year approaches, with many still to decide where or even whether to invest their 2006-7 individual savings account (ISA) allowance. The fall in the FTSE 100 share index last week to its lowest point since the previous May is a result of ripples spreading out from the gyrations of the Dow Jones Industrial Average across the Atlantic. After a choppy few days, the London stock market index ended the week down on fears that the Federal Reserve would fail to cut interest rates later this week.
Realty bite: ICICI ups home loan rate by 1%
MUMBAI: ICICI Bank, India's second largest bank, on Saturday raised the interest rate on its home loans by 1%, a hike that will crush new buyers with a minimum interest rate of 12% on loans. The decision follows the Reserve Bank of India's decision on Friday to increase the rate at which it lends to banks.
This is the fifth increase in ICICI's rates since May last year, when housing loans were going for only 8.5%. The latest hike will increase the equated monthly instalments payable by Rs 60 for every Rs 1-lakh loan taken for a tenure of 15 years. ICICI has also increased the broad floating reference rate that determines other consumer loans like car and personal loans to 12.75%. The benchmark rate at which it will lend to business is also up a percentage point to 15.75%.
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