#loan repayments uk

[axe8472]

nothing radicalises a UK university student like reading about the history of tuition + maintenance grants/loans

[personalfinanceandinvesting]

Here are 10 Strategies to Manage Your Student Loans (Student Finance 2024)

0:00 Introduction 0:42 Make additional payments. 1:36 Set up automatic timely payments. 2:00 Limit your debt with a part-time job. 2:20 Develop and Stick to a budget 2:45 Consider refinancing your student loans 2:57 Explore Loan Forgiveness Programs. 3:18 Ask your employer about repayment assistance. 3:38 Use 'found' money. 3:51 Stay organised and Informed. 4:22 Contact your loan servicer directly.

WEBSITE

YOUTUBE  

YOUTUBE PLAYLIST  

FACEBOOK  

X  (TWITTER)

TUMBLR  

QUORA  

LinkedIn

Mix  

FLIPBOARD

[afeelgoodblog]

The Best News of Last Week

1. ‘It was an accident’: the scientists who have turned humid air into renewable power

Greetings, readers! Welcome to our weekly dose of positivity and good vibes. In this edition, I've gathered a collection of uplifting stories that will surely bring a smile to your face. From scientific breakthroughs to environmental initiatives and heartwarming achievements, I've got it all covered.

In May, a team at the University of Massachusetts Amherst published a paper declaring they had successfully generated a small but continuous electric current from humidity in the air. They’ve come a long way since then. The result is a thin grey disc measuring 4cm across.

One of these devices can generate a relatively modest 1.5 volts and 10 milliamps. However, 20,000 of them stacked, could generate 10 kilowatt hours of energy a day – roughly the consumption of an average UK household. Even more impressive: they plan to have a prototype ready for demonstration in 2024.

2. Empty Office Buildings Are Being Turned Into Vertical Farms

Empty office buildings are being repurposed into vertical farms, such as Area 2 Farms in Arlington, Virginia. With the decline in office usage due to the Covid-19 pandemic, municipalities are seeking ways to fill vacant spaces.

Vertical farming systems like Silo and AgriPlay's modular growth systems offer efficient and adaptable solutions for converting office buildings into agricultural spaces. These initiatives not only address food insecurity but also provide economic opportunities, green jobs, and fresh produce to local communities, transforming urban centers in the process.

3. Biden-Harris Administration to Provide 804,000 Borrowers with $39 Billion in Automatic Loan Forgiveness as a Result of Fixes to Income Driven Repayment Plans

The Department of Education in the United States has announced that over 804,000 borrowers will have $39 billion in Federal student loans automatically discharged. This is part of the Biden-Harris Administration's efforts to fix historical failures in the administration of the student loan program and ensure accurate counting of monthly payments towards loan forgiveness.

The Department aims to correct the system and provide borrowers with the forgiveness they deserve, leveling the playing field in higher education. This announcement adds to the Administration's efforts, which have already approved over $116.6 billion in student loan forgiveness for more than 3.4 million borrowers.

4. F.D.A. Approves First U.S. Over-the-Counter Birth Control Pill

The move could significantly expand access to contraception. The pill is expected to be available in early 2024.

The Food and Drug Administration on Thursday approved a birth control pill to be sold without a prescription for the first time in the United States, a milestone that could significantly expand access to contraception. The medication, called Opill, will become the most effective birth control method available over the counter

5. AIDS can be ended by 2030 with investments in prevention and treatment, UN says

It is possible to end AIDS by 2030 if countries demonstrate the political will to invest in prevention and treatment and adopt non-discriminatory laws, the United Nations said on Thursday.

In 2022, an estimated 39 million people around the world were living with HIV, according to UNAIDS, the United Nations AIDS program. HIV can progress to AIDS if left untreated.

6. Conjoined twins released from Texas Children’s Hospital after successfully separated in complex surgery

Conjoined twins are finally going home after the pair was safely separated during a complex surgery at Texas Children’s Hospital in June.

Ella Grace and Eliza Faith Fuller were in the neonatal intensive care unit (NICU) for over four months after their birth on March 1. A large team of healthcare workers took six hours to complete the surgery on June 14. Seven surgeons, four anesthesiologists, four surgical nurses and two surgical technicians assisted with the procedure.

7. From villains to valued: Canadians show overwhelming support for wolves

Despite their record in popular culture, according to a recent survey, seven in 10 Canadians say they have a “very positive” view of the iconic predators. 

Here's a fascinating video about how wolves changed Yellowstone nat'l park:

----

That's it for this week :)

This newsletter will always be free. If you liked this post you can support me with a small kofi donation:

Support this newsletter ❤️

Also don’t forget to reblog.

[my-autism-adhd-blog]

Hi everyone,

I got an inbox asking to share some tips for financing when you’re autistic. I found a helpful guid from the National Autistic Society:

Budgeting

The first step to managing your money is to work out a budget and stick to it. Budgeting will help you:

* keep track of what you are spending

* help you to avoid going overdrawn on your bank account by spending money that you don't have

* decide whether you can afford to buy something that you would like

* deal with debt by planning repayments that you can manage

* work out how much money you may have to save. 

Bank, building society or post office accounts

Most people now have one of these types of account. The benefits of these are: 

* it will keep your money safe

* you can pay bills more simply by direct debits or standing orders

* internet banking is now widely available. This reduces the need to visit banks and other services that autistic people may find difficult

* benefit payments can only be paid into an account

* you can have a debit card, making it easier to pay for purchases and you can shop online 

* you may be able to earn interest on the money you have

* you can pay bills by direct debit or standing order, which are sometimes rewarded by a reduction in what you pay for services

* you can use your cashpoint card to access money easily from cash machines in the UK and sometimes abroad

* your bank or building society may be able to give you an overdraft or loan.

Debit, credit and store cards

There are a number of different cards that you can use to make a payment. These include:

* cashpoint and debit cards

* credit cards

* store cards.

Borrowing money, making payments and debt

It's easy to think of a loan or overdraft as free money, but it’s actually expensive as you have to pay back the original amount plus interest. Try to only borrow money when you need to and repay it as soon as you can. There are many ways of borrowing money, including:

* borrowing money from family or friends

* having an overdraft

* taking out a personal loan or secured loan

* applying for a credit card.

The full article will be below, as it goes into more detail. I hope this helps many of you.

National Autistic Society

[arcsimper5]

UPDATED! Hi all, I feel terrible doing this, and will put it under the cut, but I have exhausted all options available to me and am asking for help here.

I woke up this morning to a lovely notification from the UK government that they had taken a payment out of my account.

This is related to something a year ago where my partner completely forgot to log on and put in his hours properly on the benefits website, which resulted in an overpayment.

My partner now can't work due to health reasons, and I am the breadwinner for the household which is me, him and our 8 year old son.

Things have been tight, but we've been managing. Until now.

We got no warning for this, we knew a repayment plan was coming but we've had no letters, no contact whatsoever.

I've looked online, and the probability of getting a refund is slim to none, as it's HMRC and the DWP.

I've applied for loans since about 3am in a panic, been declined for every one, and can't ask my parents as I've only just paid off a car from my dad and my mother is looking for any excuse to take my son from me.

In short, I have £2.03 to last me for fuel, food and everything else we might need (I'm still due to order my medication but that will have to wait) until may 30th.

Safe to say this is not how I was picturing my month going!

I feel awful asking for help with everything going on in the world at the moment, but I just want to keep my son fed and my car running so I can get to work.

I am extremely untalented so cannot offer art or anything like that as a thank you, but I can send you English snacks and treats when things get better for me, or write Star Wars drabbles/short fics as thanks.

If you can spare anything at all, I would be eternally grateful, and will do my utmost to pay it back when I am able.

If you got this far thank you for reading.

My PayPal is danibedding89@gmail.com.

Thanks again.

[justinspoliticalcorner]

Lauren Gambino at The Guardian:

Joe Biden has signed into law a bill that rushes $95bn in foreign aid to Ukraine, Israel and Taiwan, a bipartisan legislative victory he hailed as a “good day for world peace” after months of congressional gridlock threatened Washington’s support for Kyiv in its fight to repel Russia’s invasion. The Senate overwhelmingly passed the measure in a 79 -18 vote late on Tuesday night, after the package won similarly lopsided approval in the Republican controlled House, despite months of resistance from an isolationist bloc of hardline conservatives opposed to helping Ukraine. “It’s going to make America safer. It’s going to make the world safer,” Biden said, in remarks delivered from the White House, shortly after signing the bill.

“It was a difficult path,” he continued. “It should have been easier and it should have gotten there sooner. But in the end, we did what America always does. We rose to the moment, came together, and we got it done.” The White House first sent its request for the foreign aid package to Congress in October, and US officials have said the months-long delay hurt Ukraine on the battlefield. Promising to “move fast”, Biden said the US would begin shipping weapons and equipment to Ukraine within a matter of hours. Biden admonished “Maga Republicans” for blocking the aid package as Ukrainian soldiers were running out of artillery shells and ammunition as Iran, China and North Korea helped Russia to ramp up its aerial assault on Ukrainian cities and critical infrastructure. Rejecting the view that Ukraine is locked in an unwinnable conflict that has become a drain on US resources, Biden hailed Ukraine’s army as a “fighting force with the will and the skill to win”. But the president also pressed the case that supporting Ukraine was in the national security interest of the US.

[...] In an effort to attract Republican support, the security bill includes a provision that could see a nationwide ban on TikTok. The House also added language mandating the president seek repayment from Kyiv for roughly $10bn in economic assistance in the form of “forgivable loans”, an idea first floated by Donald Trump, who has stoked anti-Ukraine sentiment among conservatives. Although support for the package was overwhelming, several Democrats have expressed their concern with sending Israel additional military aid as it prosecutes a war that has killed more than 34,000 people in Gaza and plunged the territory into a humanitarian crisis. Three progressive senators, Bernie Sanders, Peter Welch of Vermont and Jeff Merkley of Oregon, voted against the bill for its inclusion of military support to Israel.

On Wednesday, Biden called the aid to Israel “vital”, especially in the wake of Iran’s unprecedented aerial assault on the country. Israel, with help from the US, UK and Jordan, intercepted nearly all of the missiles and drones and there were no reported fatalities. The attack had been launched in retaliation against an Israeli strike on an Iranian consular site in Syria. “My commitment to Israel, I want to make clear again, is ironclad,” Biden said. “The security of Israel is critical. I will always make sure that Israel has what it needs to defend itself against Iran and terrorists who it supports.” Biden’s abiding support for Israel’s war in Gaza has hurt his political standing with key parts of the Democratic coalition, especially among young people. As he spoke, students at some of the nation’s most prestigious universities were demonstrating against the war. Biden emphasized that the bill also increases humanitarian assistance to Gaza, touting his administration’s efforts to pressure Israel to allow more aid into the devastated territory. But House Republicans added a provision to the bill prohibiting funds to the United Nations Relief and Works Agency, Unrwa, a “lifeline for the Palestinian people in Gaza” that Israel has sought to disband.

President Biden signed a foreign aid package worth $95BN containing foreign aid for Ukraine, Taiwan, and Israel and provisions to a TikTok ban.

The good: Ukraine and Taiwan funding. The bad: TikTok ban and Israel funding.

See Also:

Vox: Ukraine aid and a potential TikTok ban: What’s in the House’s new $95 billion bill

[indizombie]

The cost of going to university in Wales is going up from September. Undergraduate university tuition fees are being raised to £9,250-a-year in line with the cost in England and the rest of the UK, the Welsh Government announced in February. Grants currently available to postgraduate Master’s students will also be replaced fully by repayable student loans. That change will apply to new students in 2024/25. University vice chancellors in Wales had long lobbied for higher tuition fees, saying £9,000 a year did not cover their costs and put them at a competitive disadvantage with institutions across the border who brought in more money for fees. But it seems even this will not be enough to stem mass job losses and cuts.

Abbie Wightwick, ‘Wales' biggest universities facing huge cost cutting as thousands of staff offered voluntary redundancy’, WalesOnline

[fatehbaz]

We must understand the journey [...]. [T]he kings and queens of Europe [...] said that those Black or Brown or Indigenous [...], they could be exploited. [...] In the case of the UK, [...] [i]t was the profits of slavery, slave products which built the universities, that financed the inventions, the canals, the banks like Barclays Bank, the Bank of England [...] to send wealth back to the North. [...]. So [...] what it does is it creates the world  as we know it, and then [...] the anti-colonial struggles of the forties, fifties and sixties begin to challenge it. [...] So no longer did you need guns and rifles and gunboats. You could control economies by the power of [...] trade rules [...]. And we see that today with unsustainable debt repayments, [...] corporations taking profits out of the Global South and bringing it back to the banks and corporations in the Global North. So in reality, this logic of racialized capitalism, colonialism, imperialism, is still apparent today. And it's the same logic. [...] [T]here has been an attempt, and it's been largely led by international institutions such as the World Bank and the IMF, to create a narrative that over the last 30, 40 years, that somehow because of development or globalization, we've seen a reduction in poverty and inequality in the Global South. This is the classic trickle-down.  [...]

It's the fact that this is all legal. This is legally done.

We've created both a global tax system, a global trade system, and then a punitive system managed by institutions like the IMF and the World Bank and the WTO, which punishes countries if they challenge that logic, and if they, for example, decide to prioritize their own people.   [...]

---

So in Pakistan, as we know, 33 million people have been displaced by a climate flood -- when they are responsible for less than 1% of global emissions. [...] But Pakistan, for every 100 that the Government raises in tax revenue, it pays 83 of those [...] back out in debt repayments.

And what you've seen increasingly is country after country being trapped in this cycle of needing to beg for more debt-creating loans to pay the last debt-creating loans, and each of those loans coming with conditions.

Recently, Sri Lanka was unable to pay its debt. There have been huge protests on the streets of Sri Lanka, by movements, as people were unable to afford food, even kerosene to cook with [...]. People were unable to get to the hospital. The government was telling people to eat less, not to eat three meals a day. [There was] a huge uprising of people and the government that was in power fled; the new government, which was imposed in Sri Lanka, went to the IMF and said, we want to negotiate restructuring our loan, because once you default on your loan, the way our economic system is set up, you will be punished. Because every bank, every corporation, wants their debt repayments. So people are forced to go back to the IMF.

And the IMF told Sri Lanka, we will give you another loan, if you do three things: you cut your public expenditure -- so the very money that you need on public services -- second, you weaken your labor laws -- [they] don't want unions being strong in [Sri Lanka] -- and thirdly, you have to privatize what's left of your utility. Which were operating for the interests of the Sri Lankan people. They want them now to be put onto the open market and, like many countries in the Global South, the main drivers of our economy, are actually not in the hands of either our governments or our peoples, they are still controlled by the same Western multinationals.

---

Now, if we had a picture, if we could show two maps, we could show a map  of the colonial world and the influence of the different countries of Europe on the different parts of the world, and the commodities that were drawn from those countries, to feed back to supply chains, to feed consumption and the industrial processes in the Global North.

But if you did the same map right now, you'd see the exact same commodities flowing from the Global South to the Global North, because countries were forced to and [told,] you will provide and produce this commodity because we want it, not because it's needed by your people [...]. It’s because you will grow cotton, you will grow coffee, you’ll export oil [...].

---

All text above are words of Asad Rehman. As interviewed by Kamea Chayne. Transcript published as “Asad Rehman: The End of Imperialism in a Radical Green New Deal (Ep378).” An episode of the podcast Green Dreamer. 25 October 2022. [Bold emphasis and some paragraph breaks/contractions added by me.]

[classicquid]

A Safe Loan Offer for Short Term Loans UK Direct Lender

It is so normal for a man looking for a short term loans direct lender at any charge because there are so many different kinds of credit available in our modern budgetary market. Short term loans UK direct lender are the most practical way to obtain cash without sacrificing your insurance advantages. The candidate needs a fast and secure advance framework in order to proceed with the credit check. Those who are disabled and dependent on public assistance due to illness or other circumstances will find this especially useful. In addition to being simple and quick, it is also referred to as an optional item to provide some extra support right away. A component of internet management is this advancement.

The client does not walk around seeking for any digital café with the intention of presenting an application form since short term loans UK direct lender are given to the client particularly by the immediate loan specialist at the client's convenience of home or workplace at any time. Every one of you needs to use your Android phone, turn on your portable internet, and visit the bank's website. Even after completing the online form and providing all necessary information, the money is quickly sent into your account.

Infrequently, coordinated bank advances for beneficiaries are created to meet the financial needs of those receiving social assistance. Although it does not ask for a guarantee in order to be approved, there are several important requirements that an applicant must fulfill, which are listed below.

In his or her record, he or she should have sufficient funds, at least £700. He or she must provide documentation proving their citizenship or proof of residence in the United Kingdom for at least the previous year. He or she is entitled to a functional financial balance that is at least six months old. Given that it is required, he ought to be able to return the credit within the allotted period.

You can get a short term cash loans for a short period of time—two months starting from the date of endorsement—with a maximum amount of £1,000. It's intended for clients who meet the requirements in the terms and language, as it has been shown above. The short term loans UK direct lender obtained is used to pay for unforeseen needs such as groceries, rent, medical visits, the cost of a child's schooling or daycare, unexpected bank overdrafts, auto repairs, and other emergency bills.

Thanks to soft searches, we offer a prompt eligibility response before to your online application for a loan, so it won't have an impact on your credit score. Classic Quid is here to help, whether you need a short term loans UK for debt consolidation, overdue debt repayment, or something else entirely. You are not required to be a homeowner in order to apply for our short term loans direct lenders up to £2500. We just require a few personal facts to get started on your personalized quote and provide you a fast answer regarding your eligibility. From here, a breakdown of any interest payments together with the monthly repayments for a loan will be displayed to you.

https://classicquid.co.uk/

[paydayquid]

How much time will it take to get the £1000 Short Term Loans UK Direct Lender?

We makes it easy and quick to apply for any kind of loan; you may quickly learn if you qualify in a matter of minutes. Subsequently, if your application is accepted and meets the requirements for a short term loans UK direct lender, we will attempt to deposit the funds into your bank account on the same day of approval. It could take up to five business days during peak periods.

With Payday Quid, applying for short term loans UK direct lender is quick and easy, and you may quickly learn if you qualify. The money could then be in your current account in a matter of hours if your application is accepted after undergoing the necessary verifications.

One item that everyone needs in their life is money. Nobody wants to have a financial catastrophe while moving through life. However, emergencies are uncontrollable and can arise in a variety of circumstances, such as when your car breaks down unexpectedly, your mother becomes ill, you have to pay off debt, and so on. At that point, you require extra cash assistance to cover these kinds of emergency bills. In the event that your loan application is turned down without a debit card, short term loans UK have shown to be an excellent source of additional funding for those who have fallen on hard times financially.

With short term loans UK, you are able to obtain an amount between £100 and £2,500; nevertheless, the amount that is offered is not secured by your assets. Your collateral won't be lost thanks to this kind of feature. Since they don't own a property, tenants and non-homeowners alike are welcome to take advantage of these financial services without hesitation and pay their bills on schedule. There is tight reimbursement with a short repayment period ranging from 14 to 30 days. Interest rates compared to regular loans could be a little higher at the specified fund.

The main benefit from short term loans direct lenders is that borrowers with poor credit histories—defaults, arrears, missed payments, foreclosure, CCJs, IVAs, or bankruptcy—can benefit from not having to worry about credit checks. In spite of the borrowers' dubious credit histories, the lender has consented to aid them as long as they meet the requirements before disbursing any funds. The customer must meet certain requirements in order to receive direct cash deposit: they must be over the age of 18, a resident of the UK, a full-time worker, and have an active bank account.

Same day loans are rapid and simple to obtain online, from the comfort of one's home or place of business. The advantage of applying for a same day loans UK is that all of the requirements are completed instantly, saving the consumer from having to complete time-consuming paperwork or faxing documents. All the customer needs to do is complete an easy, safe, and cost-free application form to provide the lender with the necessary loan details. The lender will then rapidly approve the funds and swiftly transfer the money into the designated bank account. Because of this, getting a loan during a financial crisis is never difficult for people.

https://paydayquid.co.uk/

[jamesscarstairs]

anyone that’s doing a masters in the uk, particularly those funded by student finance wales, what was your loan process like?? and if you’ve started repaying it, is there a huge disparity between your undergrad and postgrad loan repayment scheme??

[shorttermsloans]

What makes obtaining a Short Term Cash Loans with a poor credit history challenging?

With a poor credit history, you could be having trouble getting approved for a short term cash loans. We know how annoying and stressful this can be. Because there are a number of explanations why you can be denied the loan you require, it is crucial to comprehend why this could be the case.

Lenders typically use credit files and ratings to determine the risk of their short term cash loans. In the end, the lender must guarantee the greatest likelihood of the borrower making timely repayments. Lenders find you a less desirable candidate if you have a history of doing things that have damaged your credit score since you seem more likely to miss payments or even completely default on the loan.

This increases the likelihood that lenders may reject your request for the necessary financing. However, we evaluate each application on its own basis, so you might be approved if you meet our lending requirements. While we offer short term loans UK direct lender, some lenders also offer "no credit check loans." These are loans for which there is no hard credit check, or one that creates a record in your credit history, performed by the lenders. Instead, they pose a series of questions to determine the customer's eligibility for the loan. However, ethical lenders will frequently run hard credit checks, which are available to other potential lenders.

However, our short term loans UK are intended for people who have previously been turned down and may have numerous credit checks on file. To assist you in obtaining the funds you require, our loans merely have less qualifying standards than other loan products. Getting a short term loans online is not the best way to raise your credit score. Nonetheless, you are exhibiting sound credit and financial behavior by making your loan payments on time and according to the repayment plan.

The way our short term loans UK are repaid is by the borrower being able to pay back the loan over time in several reasonable installments rather than all at once. This implies that, provided payments are completed on schedule, each repayment reduces the principal balance of the loan along with interest until the end of the term, at which point the entire loan is paid back. Small, unsecured loans made especially for borrowers with poor credit are known as bad credit loans. These loans have a size range of £100 to £2,500, and following approval, borrowers can quickly receive much-needed funds. Moreover, you will only ever deal with us and not with any other parties because we are the direct lender.

Our loans operate in several simple and effective steps. They are intended to assist you in escaping a financial rut and can be funded the same day, with funds arriving in the designated account. By completing the online application form on our website and providing the relevant information, borrowers can instantly receive a decision regarding their loan. Like with any other short-term credit options, you should think about whether you're a good fit for this kind of short term loans direct lenders and your ability to make timely repayments before applying online for a low credit loan. Your credit rating may suffer longer-term consequences if you make late payments.

[galadriel1010]

I was talking to my aunt about student loans in the UK and the unlikelihood of anyone ever paying them back, and got one of those 'oh, we exist in different realities' moments when she said that the threshold for loan repayments is very low. It's £27,500. That was the 52nd percentile income for 2020-2021, the last year for which figures are available. She was as shocked when I insisted it's quite high and said that I'm barely earning over that at the age of 33 as I was when she said it was low.

It is so easy to end up in a completely different economy from other people close to you.

[eaglesnick]

Those That Have Will Receive More

In December 2022, the Guardian carried this headline:

“Soaring rents making life ‘unaffordable’ for private UK tenants, research shows." (01/12/22)

A few months later and the BBC ran a news report informing us that rents had increased by over 11.1% compared to the previous year. And in June we read that official government figures showed:

“The median monthly rent in England between October 2021 and September 2022 was £800 – higher than at any other point in history, according to the Office for National Statistics.”  (The Big Issue: 19/06/23)

The government response to these massive increases in private rental charges has been to do NOTHING After all, people that rent are far more likely to vote Labour than Tory so there is no gain to be had by offering them rent relief. Indeed, government ministers have gone out of their way to insist there will be no rent price controls.

“Minister confirms government will not consider rent controls in England."  (propertyindustryeye: 16/11/22)

Fast forward to yesterday and the Bank of England’s 0.5% lending rate rise and everyone is suddenly concerned about the cost to house owners of future mortgage payments. Homeowners DO tend to vote Tory so Jeremy Hunt has summoned the heads of banks and building societies to a special meeting to see what can be done to help  property-owning householders. 

I do not for one second underestimate the financial hardship that can be brought about by increases in mortgage repayment loans. What I do object to is a Tory government who does absolutely nothing to help the poorest in society facing an 11% increase in rent rises, but who feign concern for house owners, many of whom are still on fixed rate mortgages, and therefore still protected from immediate increased costs.

Here are some simple facts and figures from the government.

61.5% of the UK population are house owners.

27.1% of the UK population are owner-occupiers without a loan or mortgage.

37.5% of the UK population are owner-occupiers with a loan or mortgage. 

34.9 % of the UK population are non-owner-occupants.

In other words the number of households facing massive rent rises is almost the same percentage as those facing higher mortgage repayments.

According to “Money”:

“The cost of renting appears to be significantly greater than mortgage payments throughout the UK. In England, the average monthly mortgage payment is £753 compared to a larger £795 average monthly rent payment.” Money: March2023)

So, renters are already paying a higher proportion of their income on rents than owner-occupiers, yet they are to receive no help.

The population of the UK, is estimated to be just below 69 million. If 34.95% of those are non-owner occupiers, that is a total of 24,080,999 who live in rented accommodation.

As stated earlier many of those who are owner-occupiers and paying monthly mortgage repayments are on fixed rate deals and therefore will experience no immediate rises in their monthly repayments.  According to government figures:

“1.4 million households facing bigger mortgage repayments in 2023”  (Mortgage Strategy: 09/01/23)

If we assume each household has five persons (an over-estimation) then the total number of people living in a property facing a mortgage increase this year is 7 million.  The number of people living in rented accommodation facing rent increases is, as already demonstrated, 24 million.

These 24 million are amongst the poorest in society and moral justice would demand they receive as much (if not more) help from government as owner-occupiers.

Today, (23/06/23) after meeting with the Chancellor of the Exchequer, Jeremy Hunt:

“Mortgage lenders and the UK chancellor, Jeremy Hunt, have agreed that people should be given a 12-month grace period before repossession proceedings start, following yesterday’s shock interest rate hike to 5%” (Guardian: 23/06/23). 

Meanwhile renters who fall behind on payments have been facing an entirely different reality:

“Rental evictions in England and Wales surge by 98% in a year… a survey by homelessness charity Crisis indicated that nearly 1 million low-income households across Britain feared eviction in the coming months.” (Guardian: 09/02/23)

The figures, and the government’s callous attitude towards renters, speak for themselves.

[macaballero]

Home Loans - Right Approach to Become a Homeowner

Every single one of us wishes to have a home of our own. For certain pounds in your savings accounts, it won't be imaginable to buy a house that requires a major investment. On the off chance that you dream to own a home, home loans are the best way to finance your dream.

Home loans are offered against the value in ones home. Value can be characterized as the worth of the home subsequent to deducting exceptional mortgage sums and different loans. Lenders think about various elements while working out the home value such as area of the home, the structure and so on. The loan will be gotten on the borrower's home and the exchange won't impact existing mortgage in any capacity.

A home loan is basically taken to buy or to construct another house. Borrowers can likewise use it to make home upgrades, combining their existing obligations, to purchase a luxurious vehicle or for any other personal purpose.

The loan continues of a home loan can enhance both mortgage and got loans. Homeowners can put their existing house or land as an insurance to get finance to buy another house. However, in the event that you are an occupant you can put the new house as a guarantee to get a home loan.

There are various benefits joined with the home loan. Home loans offer bigger sum loan with a more drawn out repayment term. Home loans offer you the opportunity to get a loan for any sum going from £3000 to £500,000. Home loans can be repaid over a time of 5 to 25 years relying upon the sum you get.

Home loans take care of UK occupants with various loan options, which make it more straightforward for borrowers to repay the interest on the loan in the most agreeable and convenient way. Yearly rate or APR is the term used to mean the rate of interest. Home loans give borrowers the option to pay either fixed interest rate or adjustable rate interest rate on the cash acquired. Fixed interest rate option infers that interest rate will continue as before over the lifetime of the loan. While an adjustable interest rate would suggest that the rate of interest would change occasionally with the corresponding fluctuations in a record, with which it is appended.

[bitchesgetriches]

Honourable Bitches,

I am a 24-year-old wanting to study a Master's abroad in translation after a BA in languages. The tuition fees are way beyond my budget and savings, but I am eligible to apply for a specific student loan for merit (no need to hold down any cards to show my ability to repay). This loan can give me up to 50k to finance my studies and living abroad, which would be more than enough. The interest rate is 3.65% if I repay within 10 years, 3.96% if I repay within 30 years. I have never been in debt, should I try to repay within 10 years with a higher monthly payment or within 30 years, with the possibility of repaying all at once when I have it, but have to pay more in the long run?

P.S. for context, I am EU citizen trying to enroll for a master in the UK). Here's a photo of our dog to thank you for your precious help.

WHAT A SWEET AND PRECIOUS BABY!!! We find this offering of a cute pet pic pleasing and acceptable.

As soon as you mentioned the interest rates I thought "They can't be American." My student loans were something like 6.8% and 11.2%. So you'll have to excuse me if I giggled a little bit at your comparatively stress-free situation!

Here's the thing about loan repayment terms: you don't have to stick to them. For example, Kitty got better terms on a 30-year mortgage than a 15-year mortgage. So they went with the 30-year mortgage and paid it off in less than 10 years.

If you can afford the higher monthly payment for the lower interest rate, then take the 10-year loan! But if you're at all nervous about making those monthly payments, take the 30-year and try to pay it off quickly. You can always pay the minimum monthly amount if you fall on hard times.

Being in debt is stressful and tricky. But you're wise to be thinking strategically, my dear! Here's waaaay more detailed advice:

{ MASTERPOST } Everything You Need to Know about How to Pay off Debt 

If you found this helpful, consider tipping us!