Payday loans

The OFT have announced they will be investigating a number of payday loan lenders on irresponsible lending practises.

Amongst the 50 lenders the OFT is investigating is the high profile lender Wonga.com as seen on television advertisements. Wonga are charging their customers APRs of 4214%. This equates to charges of £12.78 per week for every £100 borrowed. Those lenders being investigated are said to have APRs over and above 4000%.

A significant area of concern is rolling interest, some payday lenders allow customers to extend the borrowing term beyond the pay day so that the interest snowballs and the customer ends up deeper and deeper in debt.

Wenworth Financial Services offer payday loans, currently from a single lender who offer payday loans at an interest rate of 1737% one of the lowest rates in the industry. They also have controls in place to ensure full and final payment is made on the day of your payday, so there is no extending of the loan term or risk of the debt snowballing.

Visit our website today for an instant payday loans quote.

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Times running out for first-time-buyers to save on stamp duty

With just one month left of the stamp duty holiday for first-time-buyers we are actively looking for young people looking to save up to £2,500.

Stamp duty of 1% of sale price is due on all properties purchased between £125,000 - £250,000. However the Chancellor gave a stamp duty holiday for first time buyers (only) where they do not have to pay stamp duty on any purchase under £250,000. This holiday is to be removed on 25th march 2012. Therefore, first time buyers have exactly one month to get their mortgage application in and the purchase to complete within this time frame.

The savings first time buyers can make are between £1,250 - £2,500 depending on purchase price. If you are in Merseyside, Wirral, Cheshire then you should speak with a mortgage broker in Merseyside who can help you make these savings.

Need a mortgage adviser Merseyside, then visit our site.

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