Getting Adequate Financial Advice Is ‘Vital’
Topics: professional, advice, essential, financial, finance, loans, mortgages, secured, homeowner, personal, loan, debt
The majority of consumers are relying on their loved ones when it comes to getting financial advice, new research shows.
In a study carried out by Birmingham Midshires as part of its Not So Average Joe campaign, the old adage “it’s not what you know, it’s who you know” is reported to still hold relevance for many people in terms of getting help with fiscal matters. About two-thirds of Britons (63 per cent) claim that they will trust a person offering guidance on money matters, whether this relates to personal loans or mortgages, if they have first been recommended by a friend or family member. Meanwhile, some 44 per cent of those surveyed state that they are likely to listen to a financial adviser if they or the company that they represent has been regulated by the government or a statutory body.
Research from the financial services firm also showed that 37 per cent of consumers will take into account a recommendation by a fellow professional when choosing who to trust, while just over a quarter (26 per cent) base their decision on the qualifications that an adviser has. Meanwhile, the amount of experience held is a consideration for 38 per cent of those when looking for a professional to give them advice on homeowner loans, mortgages and other financial areas. Features deemed to be of less importance include a firm handshake, a smart suit and a university degree.
Commenting on the study, Tim Hague, managing director of mortgages for Birmingham Midshires, claimed that it is crucial that consumers seek out adequate financial guidance which is suitable for their needs. He said: “There are hundreds of mortgage products on the market and not all of them are right for every individual - which is why using an adviser is vital. While it is good to get a steer from friends or family as to where to go for financial advice, their financial needs may have been very different.”
In taking the time to search for sufficient help on money matters, many consumers may find themselves in a more capable position to meet various demands on their spending and be able to select a cheap loan with greater ease. Earlier this month, it was revealed that thousands of Britons are taking the first steps in getting on their financial feet as Axa launched My Budget Day. The initiative involved employers giving 250,000 workers an hour out of their working day to plan their finances.
And such a move could well see many people make repayments on personal loans, utility bills and other areas of financial expense. Steve Folkard, spokesperson for the firm, claimed that spending an hour every month to manage their money “can make a huge difference” to people’s financial situations and save them about 1,300 pounds over the course of a year. Research from Axa also revealed that about half of employers (49 per cent) would think about allowing their workforce the chance to sort out their spending, which in turn could see even more people learn to manage their money more effectively.
Tom Dawson writes for Essentially Home Loans where visitors can apply for cheap secured loans online, we also specialise in poor credit loans, and tenant loans for UK residents. Visit Today: www.essentiallyhomeloans.co.uk
Previous Articles Highlighter:
How To Profit From Mobile Park Homes (1)
As with flipping houses, investors can flip mobile homes by purchasing low and selling high. The best way to do this is to sell on terms. You can also provide seller financing.
Modified Internal Rate Of Return For Larger Profits (2)
This makes it much easier, if you are trying to find the most profitable combination for multiple transactions with numerous variations. The internal rate of return normally considers only the initial investment.
How To Use A Business Credit Card (3)
Many business owners, especially small business owners and sole proprietors, use their personal credit cards to make purchases for their business needs. There is nothing illegal about this and if one keeps meticulous records, it can be a way to conduct business purchase via credit card use.
Best New Places To Live In Texas - The Master-Planned Community (4)
Tuscan Lakes is built on the premise that the dream of a simpler life surrounded by the soothing beauty of the European countryside can be realized every day - not so far away.
How To Use A One Time Credit Card (5)
If using a one time credit card seems like a good idea to you and you wish to get one, the first place to check is with your current card company.
What Is A Zero Percent Auto Loan? (6)
Also make sure that your loan payments are within your budget. Court helps people to learn about private student loans. You can read more of his work by visiting: whalehookloans.com.
Bad Credit Increases Insurance Cost (7)
One company, as mentioned above, may not charge you nearly as much as another company will. The only way to know is to shop. Peter Kenny is a writer for The Thrifty Scot, please visit us at www.loansubmit.co.uk and www.thriftyscot.co.uk www.thriftyscot.com
Are Bonds Really Risk Free? (8)
Most people assume that all fixed-income investment instruments are completely risk free, but this is not the case. Even if you are an experienced investor, you may not be aware of all the potential shortcomings of bonds.
The Benefits Of Life Insurance (9)
Also, it is possible to buy a participating policy. The insurance company pays the holder of a participating policy a dividend, much like a normal corporation pays dividends to its stockholders.
What Is Umbrella Insurance? (10)
Every day, there are personal lawsuits filed against ordinary citizens, with the reasons ranging from the frivolous to the justified. When and if this happens to you, you need to be prepared.
What Is Your Investment Risk Tolerance? (11)
You should consult with a financial advisor when looking for the right hedge funds or junk bonds in which to invest. What if you have a medium risk tolerance?
Different Mortgage Types Match Your Finance Needs (12)
You will be saving the money for the capital in a savings plan of some sort, like a pension plan, ISA or endowment. At a certain time, that saved money will be used to pay for the mortgage, and the interest will already have been paid off.
Making Your Own Investment Decisions (13)
And, you should check whether shareholder equity has increased or decreased. This is important to you as an investor because shareholder equity is the true worth of a company to its shareholders.
Tips So Taxi Driver Accounts Do Not Have To Be Taxing (14)
The Revenue naturally adopt a strict view on taxi expenses claimed for partner work as it is an area some people might use to reduce the tax liability. Care is required to justify the partner as an expense.
Call Capture Marketing - 3 Tips For Success (15)
In marketing and business it is many times the little things that can mean the most. So make sure that you pay attention to those little things to get the most from your call capture system.
The Stock Replacement Covered Call Strategy (16)
You purchased the call for $11.45 thus you received a $1.05 capital gain in the option. This profit of $2350.00 represents a 20.5% return in two weeks verses a 3.98% return in two weeks, if you had purchased the actual stock.
Investment Property Mortgage Loan Basics (17)
In general, a residential loan is one where you are buying a property with one to four dwellings (five or more is considered commercial). Most of the money from this investment will come from the tenants' monthly rents.
Top Self Employed Tax Questions That Save Money (18)
Using your home phone is an allowable business expense if you claim specific identified business calls in which case you would also be able to claim a similar proportion of the rental cost.
Finding And Securing A Commercial Loan Quickly & Easily (19)
Whether you have documents or not. With a broker experienced in guerilla commercial loan financing and negotiation, not only will you have powerful leverage in the real estate industry, but you will have a wide array of financing options for your specific situation.
Reasons To Refinance Now (20)
One way to accomplish this is by reducing the loan term, or the amount of time you have to pay off the loan. A shorter loan term generally involves larger payments, but if you can afford to make them, it could be a wise and rewarding decision to refinance your current mortgage to one with a shorter loan term.
Newer Articles Highlighter:
How Do You Prevent Being Scammed On A Auto Loan (1)
This is not true. They are usually just trying to add on extra fees. Once again, its recommended that you request that they put it all in writing.
Consumers Under 'Needless' Financial Pressure (2)
The findings also revealed that some Britons are leaving as much as 3,000 pounds unpaid on their cards. However, the financial services firm indicated that many people are placing themselves in preventable monetary strain with their cards due to money "sitting idle" in current accounts and savings schemes.
Residential Investment Property Loans - Crunching Numbers (3)
If it ends up lower than 1, it means that the property will not generate enough income to take care of itself. Anything under 1 is considered a percentage (with 1 being 100%).
Real Estate For Sale - Find Your Agent (4)
Topics: real estate asheville nc, asheville nc real estate for sale, hendersonville nc real estate Buying or selling a home is a big task best put into the hands of an expert.
Millions Of Homeowners To 'Suffer' Financially (5)
In turn, it was suggested that the "unconventional financial situation" of such people may mean they could see a rise in costs in the future. And should such people face a rise in payments, they could well develop problems in meeting other demands on their finances such as loans and utility bills.
Lessening The Credit Crunch For Consumers (6)
All of these actions combined could send the right signals to consumers and loosen the housing market. With home prices still bottoming, these actions may just soften the landing.
Residential Investment Properties As Alternative Income (7)
Topics: investment property, property investment, property value, commercial property Lately, there has been an increase in the number of people acquiring residential investment properties. If managed properly, they can provide you with a steady source of income for a number of years, or until you decide to sell.
Your Stock Trading Rules (8)
Rich in assets, with little or no debt 3. Low multiple of price to free cash flow 4. Generous returns on equity, coupled with a reasonable cash flow multiple 5.
Loan Options When Buying A Car (9)
Most often they will repossess that car faster then other companies. On a positive note they do make it easier for those that don't have good credit to get a car.
Commercial Property Market Value Directs Investments (10)
Opinions of marketable value can vary greatly. The realtor may think a location has a certain value, but the appraisal might be completely different. If nobody is willing to pay the amount you have placed on a property, then that is obviously not its true business worth.
Zero-percent Car Financing - Fact Or Fiction? (11)
It can certainly help people with poor credit ratings secure the loans that they need, but buyers with good credit can benefit from them as well. Oftentimes, more than one dealership or lending partner will vie for your business, which enables you to choose the financing that is best suited to your budget.
The Property Business Is A Business Of Relationships (12)
Your team should include solicitors, accountants, financial advisors, estate agents, letting agents, property finders, other property investors, plumbers, electricians, general builders and anyone else who could help you to achieve your goals.
Modified Internal Rate Of Return: Predicting Your Investment Profits (13)
Using the modified internal rate of return lets you calculate profits after you've reinvested in your project. The formula helps you decide which deal is most profitable. KISCL offers help getting started.
Winning The Game To Financial Freedom (14)
The market is changing all the time. The risks you were concerned about before may be different now. Keep the fundamentals in mind, weighing the financial risks and rebalancing your investment portfolio to keep your future safe.
Jumbo Mortgages VS. Regular Mortgages (15)
To summaries a regular mortgage is for those who would like to have a fixed or lower interest rate, giving them the same monthly payment for the life of their mortgage.
Investor Financing In This Crazy Real Estate Market (16)
Rates for a 30 year fixed loan are going to be in the low 7% range without paying points. ARM rates are in the low 6% range, however, most lenders are requiring discount and origination points to purchase these loans.
Getting Legal With Your Realtor (17)
This is particularly true if this is your first time purchasing a home, which is always a thrilling moment. While you may be anxious to close the deal and to finally move into your dream home, there are many legal issues you to contend with before you finalize your purchase.
Do I Have To Pay My Mortgage With Closing Cost? (18)
-Private mortgage insurance A lot of lenders ask that you have insurance in case you default on your loan. This insurance is usually one-half of one percent of the cost of the mortgage.
Business And Banking: A Partnership Forged In Success (19)
Using banks to loan the money and then invest the returns, the world of business banking and financial backing was firmly established. Today's business accounts are comparable in principle, although the paperwork has become a lot more complicated.
How To Finance A Spanish Property (20)
For people unfamiliar with buying a property abroad, using a domestic lender has a number of advantages. They can provide a complete purchasing solution and will ensure that all essential legal work is carried out.