Car Insurers Debate Over Future Profits

UK car insurers have been running an unprofitable business for 14 years. Independent market analysts, Datamonitor, say 2009 looks to be a profitable year despite the doubts

March 13, 2008

Budget Report Expectations

Chancellor Darling's Budget Report is expected to raise taxes on alcohol, fuel emissions, flights and many other issues concerning the economy. Tax burdens expected to increase on poorer families

March 12, 2008

Card Fraud Rises Again

Card fraud has increased over past year. Whilst chip and PIN technology has been successful in the UK, criminal activity overseas has increased 77 per cent

March 12, 2008

Tax Cuts Needed To Restore Confidence

Appeals for corporate tax cuts are submitted to the Treasury as it prepares its Budget report this Wednesday. Business and banking sectors are worried about the direction of the UK economy

March 10, 2008

First Time Buyers Take Hit From Stamp Duty

Stamp duty tax has not kept up with the rate of increase in house price inflation over the past decade. Yet another hurdle first-time buyers must leap over to get on the property ladder

March 10, 2008

Read all Finance News

One Way To Build Wealth - Remortgaging

Borrowing Money to Build Wealth - The Remortgage Option

According to the Telegraph, remortgaging can be a massive money-spinner, though if you are hoping to find a nice deal on a fixed rate you have probably missed the boat after last week's bad news from the Bank of England. But anyone on their lender's standard variable rate could still save thousands of pounds by switching to a cheaper discounted mortgage deal.

If an economist recommended to our parents that borrowing a mortgage to build wealth would increase their chances of retiring wealthy, that economist would have been laughed out of the industry. Today, thousands of property investors have proven that a person can acquire several mortgages, amortized over 40 years, and still build more wealth than their parents ever dreamed possible.

In our parents' days, banks were only concerned with making their money back from one client. Now, they assume that people will move, mortgages will change, and they will have less risk, with more profit. This has led to more than 4500 mortgage products, with terms ranging from 5 - 40 years.

However, as in every industry, there are right ways, and wrong ways, to build wealth.
Investing in property without a strategy is a dangerous endeavour. If you're considering investing in the rental property market, our investment mortgage could be right up your street!, according to a release by Ulster Bank. The fact is, many banks and financial organizations are now helping people use their equity to build wealth.

Never consider property investing as a 100% passive income venue. The extras will eat profits faster than taxes. Letting agents, professional inventory creators, property managers, and services may make life easier for a landlord, but each will cost you money. Investors need their profits to sustain their portfolio in hard times, through vacancies, and to pay for upgrades, repairs, and renovations.

Investing in property doesn’t always involve buy-to-let. Flipping homes is a common method of wealth building. Many investors buy and sell homes. Many people think about buying, renovating, and selling as the only way to invest. However, if you can receive a pre approved mortgage, then you can take advantage of foreclosures, and bankruptcy auctions.

Published on September 19, 2007

Darling's Budget Report Highlights

Chancellor Alistair Darling delivers his first Budget Report yesterday. Highlighted in this article are some of the main points... Read More
March 13, 2008

Lending Falls Again Says CML

The amounts borrowed by first-time buyers and home movers continue to drop as the credit crunch takes further grip on the UK mortgage market. Remortgage activity is on the increase as many switch from fixed-rate deals to tracker mortgages in anticipation of further base rate decreases from the Bank of England... Read More
March 12, 2008

10 Tips To Improve Your Credit

Now more than ever our credit rating affects our ability to borrow credit. Here are 10 tips to help you improve your credit score... Read More
March 7, 2008

Interest Rates Kept At 5.25%

Yesterday, 6th March, the MPC decided to keep the base rate at 5.25 per cent. This decision was to be expected as the Bank focuses on the pressures of rising inflation and a slowing economy. Analysts are predicting another cut to 5 per cent to happen in May unless economic conditions weaken substantially. Whilst some feel the MPC shouldn't wait too long before the next cut, many agree with yesterday's decision... Read More
March 7, 2008

20 Per Cent Of Homeowners Fear Repayments

The UK's financial watchdog, the FSA, published a survey of over 500 mortgage holders which revealed 1 in 5 are worried about being unable to keep up with their mortgage repayments. It is estimated that 1.4 million fixed-rate or discount deals will expire this year raising monthly repayment amounts. Twenty five per cent of those surveyed admitted they had no contingency plans to meet these costs... Read More
March 6, 2008