Bank of England leaves interest rates on hold

Wise Money is pleased with loans interest rates news from Bank of England.

Wise Money is pleased with loans interest rates news from Bank of England.

The Bank of England rate decision meeting didn’t provide any fireworks last week, as UK policymakers voted 9-0 in favour to keep interest rates unchanged. Despite signalling further rate cuts in the future, the decision didn’t come as a surprise considering the amount of stimulus they introduced last month.

The central bank is monitoring recent data closely, and they are encouraged to see that the stimulus package seems to be working, as recent data has been fairly positive and at times even better than market expectations.

It appears that investors are still not worried about the implication of the Brexit, at least until they find out what it really means. For this they will have to wait until article 50 is invoked early next year.

Busy money market data releases

It has been a very busy 24 hours in terms of economic releases. In the US, data came in softer, led in particular by a disappointing retail sales number. Headline sales were down -0.3% last month, the first decline in 5 months. Excluding autos and gas, spending fell -0.1%. Industrial production also declined in August, printing -0.4% against a market expectation of -0.2%.

It wasn’t all bad news though, as manufacturing activity encouragingly bounced back in the New York and Philadelphia regions, but it is not enough to convince investors that the FED will have enough reasons to lift interest rates next week.

Data in Europe will be quiet with final Q2 wages numbers due out in France. In the US, investors will closely look at August CPI report with market expectations of an increase of +0.1% month on month. Those numbers also match the views of our US economists. As always in the US, the University of Michigan consumer sentiment is scheduled for release.

Second charge secured loans by Wise Money

The improving economic climate and general house price increases have led to an increase in of second charge secured loans following their virtual disappearance after the financial crisis of 2008.

The changing face of second charge secured loans

The changing face of second charge secured loans

Traditionally, second charge secured loans were seen as a last chance saloon product.  Rates were much higher than mortgages and redemption penalties were fairly hefty.  But as rates started to drop off in 2006, the pandemic of self-certification of income led in part to the financial crisis of 2008 and a £6 billion a year secured loans industry quickly became a £150 million industry, a trickle of its former self.

Today however, the market is once again robust with packagers and lenders are back in full swing, albeit at a much more sensible £1 billion a year. Interest rates (starting at 4.55%) are much lower than ever, redemption penalties are extremely low and coupled with no set-up fees for the vast majority of secured loans, they are a very attractive solution in a variety of circumstances.

Second charge secured loans can be used for any legal purpose but are mainly used for:

  • home improvements
  • consolidation of credit cards, store cards and unsecured loans
  • purchasing vehicles
  • paying for a wedding/honeymoon
  • injecting cash into businesses
  • paying for school fees
  • paying tax bills
  • cosmetic surgery

How do second charge secured loans work?

As the name suggests, a second charge secured loans works very much in the same way as a first charge mortgage in that it is a sum of money lent out, secured against UK residential or investment property via a second charge behind the first charge registered by the main mortgage lender.

How much can be borrowed?

For a loan secured on a residential property, the minimum loan size for a second charge secured loans is just £5,000 and we arrange loans all the way up to £2.5 million.

For buy to let properties, we can arrange loans up to £500,000 but should the requirement be there, we would be able to refer the loan amount if more than this was required.

How long can a loan be taken out for?

Typically a loan is lent out between 3 and 25 years.  There are some lenders who offer 30 year terms.

The term of a loan is dependent on several factors, depending on the purpose of the loan.

The second charge secured loans process

Although not set in stone, the process with most packagers is fairly simple:

You provide your basic enquiry details (loan amount, purpose, term and contact) by telephone, email or sourcing system.

Once the client is happy with the deal, a mutually convenient time is agreed upon for a document courier to collect signatures and evidences.

Following receipt of client’s signed documents and evidences at the packager’s office, references and valuations are organised.  Case is re-checked for compliance.

With references and valuation received, the case is packaged and once a final compliance check is completed, case is sent to lender for final packaging and offer.

Once the offer has been made, it is sent out to the client by post and/or email to you.  You then have a 7 day reflection period in which to think about and return the signed offer and in doing so accepting the terms therein.

Interested? Then please call Keely McKay Wise Money’s Second Charge Secured Loans Advisor on 02921 670418 for a free, confidential, no obligation chat. NOW.

Bridging finance- great interest rates available

Wise Money is pleased to be offering competitive bridging finance at only 0.6% interest rates per month.

Wise Money is pleased to be offering competitive bridging finance at only 0.6% interest rates per month

Wise Money is part of a select group who have access to a Bridge that offers a monthly rate of 0.60%. There is a substantial but limited “test the water” fund, on a first come first served basis. You will also note that the lending criteria is quite a bit “tighter” than you would usually expect but this is driven by the lower rate.

Bridging Finance Product information

Maximum Loan to Vlaue: 50%
Minimum Loan Size: £100,000
Maximum Loan Size: £3,000,000
Length of the Term: 12 months maximum
Minimum property value: £200,000 per property
Interest Rate: 0.60% per calendar month
Administration fee: £350

Bridging Finance Underwriting Criteria

No works to be done to the property with our money (can use your own)
No off shore companies
No first time landlords
Purchases or refinances
No adverse credit in the last 3 years
You must have net assets of £500,000 (excluding marital home)
You must earn minimum of £30,000 (provable for employed via 2 x payslips and bank statements showing credits. If you are self employed SA302 or 3 x bank statements showing income being received)
3 months bank statements on all cases

Once again there are limited funds for this product so cases will be accepted on a first come, first served basis.

If you have any bridging finance enquiries, please call our team for a free, confidential and no obligation discussion on 0800 0147798 asking for the Wise Money. Com Service NOW!

Buy To Let loans for landlords

Cheap Buy To Let (BTL) second charge loans for landlords

Cheap Buy To Let (BTL) second charge loans for landlordsAre you looking for a buy to let mortgage? If you are planning to buy a property to rent out you will need a buy-to-let mortgage. As many existing landlords already know, this market has shrunk considerably over the last few years. However, there are still finances out there.

With the chancellor changing the rules on stamp duty for BTL, this white hot market is going into overdrive as investors set out to beat the April 2016 deadline, but sometimes it doesn’t make sense to remortgage in order to release funds. A second charge loan may be a more financially viable solution.

We have a complete range of fantastic second charge BTL loans online.  Please check out the quick free, no obligation form below where you can generate quotes and browse the range of products at anytime or you can call our to discuss your enquiry with our underwriters on 0800 6522 052 quoting Wise Money.

What’s on Buy To Let Loans and Mortgages offer:

£10,000 – £1,000,000 on a second charge basis
LTV’s up to 75%
Rates from 5.79%
ERC: 1 month notice + 1 month’s interest
No personal income required
Any adverse credit over 12 months ignored
Procuration fee 2.5%

Good Luck!

UK government borrowing unexpectedly falls to £6.8 billion in April

UK government borrowing fell unexpectedly to £6.8 billion in April, down from £9.3 billion a year earlier.

UK government borrowing unexpectedly falls to £6.8 billion in AprilIt is the lowest April government borrowing figure since April 2008, when public borrowing stood at £2.5 billion.

The Office for National Statistics (ONS) also revised its previous estimate of borrowing for the full financial year up slightly to £87.7 billion, from £87.3 billion.

But that was still comfortably below the government’s target of £90.3 billion.

As it is the start of the financial year little can be gleaned from the public borrowing figures as yet.

And as the ONS itself warned last week, borrowing figures in the first few months of the financial year are often subject to revisions.

In his March Budget, Chancellor George Osborne forecast public sector net borrowing would amount to £75.3 billion this financial year.

Last month, official figures showed the economy grew by 0.3% in the three months to the end of March, compared with 0.6% in the last three months of the year.

Mr Osborne plans to hold a new Budget on 8 July, when he is expected to outline his strategy to eliminate the deficit by the end of 2017 and achieve a Budget surplus in 2018-19.

It is expected he will outline £30 billion of spending cuts to government departments, including £12 billion of cuts to welfare spending.

It is also possible the chancellor may revise the government’s borrowing targets.

A Treasury spokesman said the borrowing figures showed the government’s deficit reduction plan was working, with borrowing in April £2.5 billion lower than the same month a year ago.

“We have more than halved the deficit, but at just under 5%, it is still one of the highest in the developed world,” the Treasury official said.

“There is no shortcut to fixing the public finances, so we have to continue with the hard work of identifying savings and making reforms necessary to finish the job and build a resilient economy.”

Sterling holds onto it’s currency gains

The Pound has so far held onto yesterdays gains following the unexpected fall in the unemployment claimant count.

The market welcomed the data along with the unanimous decision from the Bank of England to hold on QE. If you look at the employment numbers more closely the headline figure shrouds weak underlying trends in the labour market- however this was ignored for now by the markets and the news provided a rare opportunity to buy the pound.

Already today we have seen the dreaded Public sector net borrowing data come and go without any nasty surprises- the data was actually better than expected with PSNB at 12.361 bln against the forecasted rise to 14.75 bln for February.

In other data mortgage approvals for the UK sunk to 48k identifying further sluggish lending in the housing sector. The pound seems nicely consolidated above 1.52 and 1.11, however it is unlikely to see further big moves now until next weeks budget.

In other news the Canadian dollar is still on its drive to parity against the US Dollar and is currently within one cent of achieving this. The Canadian government are playing down the strength of the Canadian Dollar for now but there must be a real concern for Canadian companies who rely on exporting.

Although the Bank of Canada have repeatedly expressed concern in the past on the strength of the CAD the recent improvement in economic sentiment is unlikely to lead to any firm action or comments on the currency for now.

Wise Money supports Every Click the Search Engine Charity

Wise Money supports everyclick.com, the search engine that helps charity. Everyclick.com donates half of its revenues to charity and it doesn’t cost you or the charity you choose to support a penny.

everyclick
Raise loot for Charity just by searching the web!
Go On – Give you mouse a heart ! Make www.everyclick.com your home page and raise finance for charity whenever you search the web.
More ways to raise money for your favourite charity
Select from over 200,000 UK charities, schools and good causes. Find out more…
Raise money:
146,182 people have raised £871,678.33
Information for Charity Staff
Everyclick provides all 200,000 UK registered charities with a comprehensive range of ways to fundraise online without any upfront cost.
With Everyclick more of the money donated goes to Charity; every £10 donation turns into £12.20 for the selected charity if Gift Aid can be reclaimed. There is a flat 4.8% fee taken on all credit and debit card transactions.
How companies can fundraise
We currently have 5,873 companies who use Everyclick as their preferred online fundraising resource. Everyclick helps them build brand values and awareness, enhance Corporate Social Responsibility (CSR) credentials and provide a focus for staff fundraising as well as supporting their favourite charity.
Companies may decide to launch an appeal, for instance for a staff challenge or other fundraising event. Their staff can use Everyclick to build a fundraising page, attract sponsors and keep track of their progress.
School fundraising ideas
Schools, colleges and universities can use Everyclick to help with school fundraising. They can launch an online appeal, enabling charity donations as pupils, staff and supporters search the web, shop online, donate cash or organise sponsorship for fundraising events.
If your school or university is a charity in its own right then your pupils, staff and supporters can become fundraisers, generating income from a sustainable source with minimal cost or effort.
Which charitable organi
sations can I fundraise for?
You can support any one of over 200,000 UK charities via Everyclick.
UK charity directory

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Wise Money testimonials from happy customers

Wise Money Testimonials- below are kindly reproduced only some of our recent clients comments after we helped them:

Commercial Finance
“I have really appreciated your approach of the financing business. This is, to my opinion, the best way to build a good reputation in this world full of crooks and brokers and lenders who are proposing financing with a lot of hidden cost.” Mr MK of Switzerland.
Refinancing
“Dear Simon, I am very impressed with how you and your company handles situations, never in my life has any company treated me with such respect as to feel as if I were your biggest patron. So I now bid you a good day and I look forward to continual business with you”- Mr N.S., USA.
Mortgages
“Thank you all at Wise Money for being so patient and helping me all of the way through with my mortgage application process- it certainly helped to have someone on my side.”- Ms N.B., UK.
Currency Converter
“The opening of accounts and close contact for exchange rates has meant I have achieved a far better exchange rate than was expected. I would have no hesitation to recommend your company to others and look forward to many more dealings in the future.”- Mr JH. of UK.
“Despite the time differences, our money was transferred from our UK bank account to our Australian bank account within 48 hours of contacting WiseMoney- and we saved considerably on the exchange rates, thanks.”- Mr &Mrs; AJ. of Australia.
Travel Insurance
“Thanks- your total travel insurance quote for our party of 4 people was actually cheaper than the quote just myself that the travel agency quoted me.”- Mr S.B., UK.
Car Insurance
“I saved well over a quarter off my quote with your motor car insurance quote- many thanks!”- Mrs P.S., UK.
Home Insurance
“Cheers- I saved nearly a third off my original quote with your home insurance quote!”- Mr M.K., UK.

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Refinance Mortgage at Wise Money for self employed and people with bad credit histories

Refinance Mortgagerefinance calculatorIf you are looking for a remortgage for any purpose you’ve come to the right place. 
We are confident we can provide you with a competitive quote for your remortgage. You can use the money you borrow for any purpose and we will process your application quickly so your money can be made available as soon as possible.
You may want your loan for major home improvement work, a holiday, to pay school or university fees, to consolidate debts or to provide financial support for your children. Whatever you need to loan the extra money for we will be happy to listen.
For UK mortgage holders looking for a fast online mortgage calculator REFINANCE MORTGAGE- APPLY NOW please click here nowPlease apply here now online
For UK loans seekers looking for a fast online loans calculator APPLY NOW please click here nowPlease apply here now online
If you are looking for a mortgage, even if you have a poor credit history, come to us first to see what we can do. Your poor credit history does not exclude you from getting a mortgage or remortgage.
Even if your poor credit rating has meant you’ve had special terms imposed on remortgage quotes in the past, we have access to a number of suppliers of poor credit remortgages and have been able to help many customers with a poor credit rating to arrange a suitable remortgage.
Your finance can be for any purpose and your application will be processed quickly to ensure your monies are granted as soon as possible. Once your loans are granted you are free to spend the money on anything you wish.

Self Certification Mortgages- If you’re looking for a mortgage and can’t prove your income, a self certification mortgage may be just what you need.
Self certification mortgages are ideal if you can’t prove your income. This may be because you are self-employed, a freelancer, contractor or seasonal worker, or you may be paid on a commission-only basis, be an un-salaried company director or you may have more than one source of income such as income from investments.
If you’ve had problems finding a regular mortgage because you can’t prove your income please talk to our lenders about a self certification mortgage. We work with a number of suppliers who are happy to consider self certification mortgages. If this sounds like the type of mortgage you need talk to one of our advisers today to see what we can do for you.
Once we have all the details, your self certification mortgage will be processed as soon as possible to ensure your funds are available so you can complete your house purchase without delay. 
Mortgage Finance- If you want to purchase a house and you’re looking for a mortgage why not take a look at our house purchase mortgages? Our team of advisors will help you to select the best mortgage from our range of lenders to suit your individual circumstances.
If features such as no early repayment penalties, transfer flexibility, or payment holidays are important to you these will be factored-in to our mortgage search. If these features are not important to you, our team of advisors will base the search on finding you the most suitable house purchase mortgage available to suit your particular circumstances.
Once we have all the details, your house purcha
se mortgage will be processed as soon as possible to ensure your funds are available so you can complete your house purchase without delay. If you need a mortgage for your house purchase urgently you may like to consider a taking out a bridging loan to ensure your house purchase can go ahead quickly.
As long as you are employed and you are over 18, you can apply. Please contact us today for a free no obligation quote.
Our lenders provide some of the most competitive finances in the UK. So if you’re looking for a help and you’re a UK resident why not ask for a quote?
At Wise Money we work with a number of different financial services providers. As a result we find that we are able to provide competitive rates and terms for a wide range of different personal circumstances.
You can choose between a secured or an unsecured credit and it can be for any purpose. All we ask is that you can meet the monthly repayments and that you’re a UK resident.
You can expect a prompt and efficient service. An in-principle decision will be made as soon as possible and once yourapplication has been fully processed your money is made available to you as quickly as possible which you are then free to spend as you wish.
Please click here now to APPLY NOW online here nowPlease apply here now online
The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

Refinance Calculator at Wise Money for self employed and people with bad credit histories

Refinance Calculator- refinance calculatorIf you are looking for a remortgage for any purpose you’ve come to the right place.

We are confident we can provide you with a competitive quote for your remortgage. You can use the money you borrow for any purpose and we will process your application quickly so your money can be made available as soon as possible.
You may want your loan for major home improvement work, a holiday, to pay school or university fees, to consolidate debts or to provide financial support for your children. Whatever you need to loan the extra money for we will be happy to listen.
If you are looking for a mortgage, even if you have a poor credit history, come to us first to see what we can do. Your poor credit history does not exclude you from getting a mortgage or remortgage.

For UK mortgage holders looking for a fast online mortgage calculator REFINANCE CALCULATOR please click here nowPlease apply here now online

For UK loans seekers looking for a fast online loans calculator APPLY NOW please click here nowPlease apply here now online

Even if your poor credit rating has meant you’ve had special terms imposed on remortgage quotes in the past, we have access to a number of suppliers of poor credit remortgages and have been able to help many customers with a poor credit rating to arrange a suitable remortgage.
Your finance can be for any purpose and your application will be processed quickly to ensure your monies are granted as soon as possible. Once your loans are granted you are free to spend the money on anything you wish.


Self Certification Mortgages- If you’re looking for a mortgage and can’t prove your income, a self certification mortgage may be just what you need.
Self certification mortgages are ideal if you can’t prove your income. This may be because you are self-employed, a freelancer, contractor or seasonal worker, or you may be paid on a commission-only basis, be an un-salaried company director or you may have more than one source of income such as income from investments.
If you’ve had problems finding a regular mortgage because you can’t prove your income please talk to our lenders about a self certification mortgage. We work with a number of suppliers who are happy to consider self certification mortgages. If this sounds like the type of mortgage you need talk to one of our advisers today to see what we can do for you.
Once we have all the details, your self certification mortgage will be processed as soon as possible to ensure your funds are available so you can complete your house purchase without delay.
Mortgage Finance- If you want to purchase a house and you’re looking for a mortgage why not take a look at our house purchase mortgages? Our team of advisors will help you to select the best mortgage from our range of lenders to suit your individual circumstances.
If features such as no early repayment penalties, transfer flexibility, or payment holidays are important to you these will be factored-in to our mortgage search. If these features are not important to you, our team of advisors will base the search on finding you the most suitable house purchase mortgage available to suit your particular circumstances.
Once we have all the details, your house purchase mortgage will be processed as soon as possible to ensure your funds are available so you can complete your house purchase without delay. If you need a mortgage for your house purchase urgently you may like to consider a taking out a bridging loan to ensure your house purchase can go ahead quickly.
As long as you are employed and you are over 18, you can apply. Please contact us today for a free no obligation quote.
Our lenders provide some of the most competitive finances in the UK. So if you’re looking for a help and you’re a UK resident why not ask for a quote?
At Wise Money we work with a number of different financial services providers. As a result we find that we are able to provide competitive rates and terms for a wide range of different personal circumstances.
You can choose between a secured or an unsecured credit and it can be for any purpose. All we ask is that you can meet the monthly repayments and that you’re a UK resident.
You can expect a prompt and efficient service. An in-principle decision will be made as soon as possible and once yourapplication has been fully processed your money is made available to you as quickly as possible which you are then free to spend as you wish.

Please click here now to PLEASE APPLY NOW online here nowPlease apply here now online

The contents of this blog are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. The Wise Money Blog cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.