This is a true story, about how a friend’s nephew was almost driven to penury in his quest for a mortgage (I’ll just call them “nephew” and “uncle” to protect their privacy). Nephew’s mistake, common to many, was to seek the services of one of those mortgage salesmen who masquerade as financial advisors (you know, the kind who work on commission and who make more money the more expensive a deal they sell you).
Month: August 2006
Money Links For 24th Aug 2006
Links to other interesting money articles on 24th Aug 2006.
Family Finance: Credit Union €� Light In The Darkness Of Debt Problems
In our present consumer driven society, problem debts give many people sleepless nights. Worrying day after day about whether you will be able to meet your commitments is no way to ensure a peaceful life.
Family Finance: Top Tax Tips
Life is taxing enough without parting with more of your hard-earned cash than you need to. There are lots of ways in which you can trim down your tax bill.
Motley Fool: Fixed Vs Tracker Mortgages
We regularly write about why you should switch mortgages, such as in the recent article Is It Worth Remortgaging? We show that if you don’t frequently compare mortgages and switch from the always-expensive standard variable rate (SVR), you could be losing around £500 a year.
Motley Fool: Britain’s Best Cash ISAs
The other day I encountered a 17-year old schoolgirl who was fanatical about saving. Her part-time job pays her the rather princely sum of £140 a week and she saved most of it. To say I was gobsmacked is an understatement but then I suppose I don’t know that many teenage girls or what they do with their money, whether it’s an allowance from their parents or earned income.
Motley Fool: Why Packaged Accounts Aren’t Worth It
I’ve never been a big fan of so-called ‘packaged’ bank accounts. These are current accounts that entail you paying a monthly fee in return for fringe benefits such as ‘free’ annual travel insurance, car breakdown cover, discounts on package holidays, free card protection and mobile phone insurance.
Motley Fool: Find Out Your Credit Score
Are you among the 95% of people who have never checked their credit report? Actually, being a Fool, you’re probably in the 5% that have. You are, aren’t you?
Motley Fool: Learning Lessons From Fayrewood
Fayrewood (LSE: FWY), a smallcap IT distributor, has built up a strong following on The Fool’s discussion boards over the last three or four years, but, sadly, I fear that at least some of our posters have lost money from the share.
Motley Fool: Successful Claims For Unlawful Charges!
So far, at least £2 million has been recovered by thousands of people for unlawful bank charges. As for my claim, it’s moving on. My bank has acknowledged the court service notice and has about twenty days left to file a defence. I switched to a better current account ages ago, so there can be no nasty repercussions!