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Casual Articles - Payment Protection Inurance in the UK - the Truths and the Mistruths
A loan is a popular way of financing the purchase of a house, car, or any other necessity. An interest is applied on the loan provided and is termed as the rate for that loan. Hard money lending involves providing short-term loans that are imparted according to the value of the real estate that has been kept as collateral. Hard money loans are also referred to as bridge loans or swing loans and are usually for short terms that can range from two weeks to three years.Hard money loans have relatively higher interest rates, as they do not conform to typical standards. How
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add
When you decide an online business is right for you, there are several things that you need to take into consideration before jumping in.There are millions of online business and thousands more are started everyday. In a conventional job, you have to take orders from supervisors and management. When you have an online business, you are in control of every aspect of your business. You can make your own hours, however you should be prepared to spend a lot of time working when you first start up.If you are not sure what type of business you want to start, an affili
In a nutshell the economics of lending money, either via loans or credit cards simply do not work unless they sell enough PPI, yet the PPI product itself is very very expensive, and not always appropriate. The combination of these two factors means that as a product it is sold very badly – in fact many people take the product out without even knowing it!
How has this ridiculous situation arisen? First of all lets look at what PPI actually is. Basically it is an insurance policy that will make repayments on a loan for you should you lose your job, have an accident or are taken ill. It is sometimes also referred to as Accident, Sickness and Unemployment insurance or ASU.
In theory this is great but there are some catches. For instance there are some exclusions like self employed people, or pre-existing conditions. In many instances the level of cover is not that great, especially on credit cards where some products only pay the minimum amount on your card each month, sometimes as low as 2%. Also, as I have already said the policy is very expensive, especially for this level of cover, and the fact is that most of the cost is made up of commission which goes to the lender! This is money for nothing for them, as they do not carry any of the risk i.e. if you make a claim it is the underwriting insurance company that pays – not them!!
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add
Many people ask me why some presentations are effective while others are not. This is a very complex question as there are several components to an effective presentation. One component is the various habits displayed by great presenters when they are delivering their presentations. Here are the 10 habits which you can follow:1) Refrain from reading straight from your handouts. The audience does not know if they should read along with you or listen to you read.2) Do not put both hands in your pockets for long periods of time. This tends to make you look unprofes
How has this ridiculous situation arisen? First of all lets look at what PPI actually is. Basically it is an insurance policy that will make repayments on a loan for you should you lose your job, have an accident or are taken ill. It is sometimes also referred to as Accident, Sickness and Unemployment insurance or ASU.
In theory this is great but there are some catches. For instance there are some exclusions like self employed people, or pre-existing conditions. In many instances the level of cover is not that great, especially on credit cards where some products only pay the minimum amount on your card each month, sometimes as low as 2%. Also, as I have already said the policy is very expensive, especially for this level of cover, and the fact is that most of the cost is made up of commission which goes to the lender! This is money for nothing for them, as they do not carry any of the risk i.e. if you make a claim it is the underwriting insurance company that pays – not them!!
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add
When you begin to learn Forex it can seem a bit confusing and hard to navigate. First of all the term Forex itself stands for foreign exchange. One of the very best ways to learn foreign exchange is through full-time educational programs. Yet another way to traing on Forex, although it is more time consuming, is through Forex books. If you choose to learn Forex this way however, you will spend many hours of your time just to find any relevant information. Both of these will teach you the innermost workings of Forex though. One last way to know more on Forex is through practic
In theory this is great but there are some catches. For instance there are some exclusions like self employed people, or pre-existing conditions. In many instances the level of cover is not that great, especially on credit cards where some products only pay the minimum amount on your card each month, sometimes as low as 2%. Also, as I have already said the policy is very expensive, especially for this level of cover, and the fact is that most of the cost is made up of commission which goes to the lender! This is money for nothing for them, as they do not carry any of the risk i.e. if you make a claim it is the underwriting insurance company that pays – not them!!
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add
One of the most powerful driving forces in human nature is competition. The desire to overcome something or some company, the need to win, the cause, can in many cases be more important than the day-to-day work of the company.If your company and your people are to ever reach some level of greatness, you must identify and focus on beating something, on creating and communicating a reason for being.If your reason for being is that you got fired, so you decided to go into business for yourself, then maybe all you will ever create is a job.Now, understand tha
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add
Yes, you’re right, there’s nothing new or creative about a postcard. But how about being unique in the way you use them?Most business owners don’t use postcards as a marketing tool and those that do, use them infrequently and haphazardly, with no strategy involved.However, postcards are so cost-effective they can be a high-frequency weapon. And because they are 6 times more likely to be read that a direct mail letter, they are also a high-impact weapon. A high-frequency and high-impact weapon is one that will be extremely effective in the marketplace.Best
The reason is it so expensive is, and they rely so much on selling it is very straightforward. The loan market has got very very competitive which means that most companies who have a competitive product do not actually make any money from it, especially as so many people now repay loans early, and they have to sell PPI to make a decent return. In most cases they will make you pay the premium up front, add it to the loan and charge you interest on it! Amazing! More money for them!
PPI is also sold badly. Many lenders add it to the cost of the loan without the customer actually asking. Many ‘suggest’ that you will not get the most competitive rate unless you take the insurance, and with many consumers ignorant to their rights and what this means, they end up agreeing to it.
Additionally there is huge pressure on loan brokers to sell PPI. They get significantly higher commissions if they sell the products, so the broking world is equally dependent on this product.
Some of the secured lenders now offer a refund of premiums if you have made no claim within 5 years (some are 10!). This sound great but in reality very few people keep their loans that long.
The really bad thing is that for secured loans, if you do redeem the loan early, you still have to pay back the element that paid the premium, even though it was to cover a loan you have paid back! It really is that ridiculous and scandalous!
A number of steps need to be taken to fix this problem.
Firstly we need to see better, and stronger regulation around the sale of PPI. I am not fan of regulation for regulations sake but it is desperately needed.
Secondly I believe that lenders should be compelled to adjust their interest rates to show the cost of the loan including PPI. They will argue that PPI is a separate product but many consumers use the APR as a way of comparing loans – and this is impossible if you are taking out insurance.
Thirdly, and perhaps most controversially I believe lenders should be forced to offer a monthly premium PPI product as well
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