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Michael Challiner's Articles


Finances (13)	Miscellaneous (10)
Health Insurance (1)	Automotive (1)
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Adverse Credit – When Is A Credit History Labelled As Being “Adverse”? If you are a borrower with a history of unsatisfactory credit transactions, the lenders will describe your credit history as “adverse”. The expressions “poor credit”, “bad credit” and “sub-prime” all describe exactly the same situation. This leads to a number of questions; what credit information is collected about you, where does it come from and how bad must your credit history be for it to be labelled as “adverse”? It's the credit agencies like Equifax and Experian whi... Are Your Home Insurance Premiums Constantly Rising? Last year the UK's average premium for Buildings Insurance increased by 1% to just over £205 and the average for Contents Insurance rose to £151, up 2%. But within the market we've seen some much bigger rises – if you're with Norwich Union you'll have seen your premium rise by around 6%. So what's going on? Every year we see premiums rising. Surely with so much competition in the home insurance market, you wouldn't expect to see such inexorable rises in premiums? Let'... Buy-to-let – Think About It Over the past few months, there’s been a general easing of the rules which apply to buy-to-let mortgages Not everyone is completely happy with this and some feel it’s slightly risky for the first-time, inexperienced purchaser Buying A Second Hand Car? 19 Tips To Avoid Getting Your Fingers Burnt. • Do your homework. Read up about the model of car you're thinking about. Will it perform as you will want? Be aware of any known mechanical problems with that particular model and remember to check them out when you take it for a test drive (see tip 15). • Look up the current second hand values for the car. Try starting at www.what car .com. Also get some of the second hand car magazines and your local paper. Check out the prices being asked for similar cars. • Car I... Car Insurance How Can I Lower My Premiums? During the last few years, the average car insurance premium has virtually been at a stand still. The reason is price competition. There are now over 100 car insurance companies fighting for your business and competition is fierce. There are always bargains to be found as companies cut their premiums to attract motorists in the hope you'll remain loyal and stick with them in following years. Indeed, every year, 23% of us renew our motor insurance with our existing insurer. ... Car Insurance Top Tips The car insurance industry has got really competitive in the last few years, so prices haven't really changed much. There are now over 100 car insurers to choose from, so there are some very good deals out there for those who are prepared to shop around. 23% of motorists still choose to insure with the same company as the year before, but they could undoubtedly save money if they did check out some other companies. Motorists could be forgiven for not getting other quotes, ... Car Insurance, Essential Information About Excess Payments An excess payment is the fixed contribution you must pay each time your car is repaired through your car insurance policy. Normally the payment is made directly to the accident repair garage when you collect the car. If your car is declared to be a write off, your insurance company will deduct the excess agreed on the policy from the settlement payment it makes to you. If the accident was the other drivers fault, and this is accepted by the third party's insurer, you'll b... Car Insurance, Save On Premiums! Everyone has to agree to an excess of some kind when getting a car insurance policy – it's the way the system works. Basically it means that if you have an accident and your car needs to be repaired, you will have to pay a set amount towards the bill. If the accident is your fault, you lose the money. If the accident is not your fault, the third party insurer reimburses you for the excess payment. If your car is written off, then your insurance company will deduct your excess... Car Insurance. It's Getting Increasingly Expensive When You're Elderly. There were 550 serious accidents last year where the driver was over aged 70 and where driver was either killed or badly hurt, reports the Institute of Advanced Motoring . That statistic represents 8% of the national total of 7,035 similar accidents. That means that the over 70's's have more, very serious accidents per mile than any other sector of the population. This view is supported by the Association of British Insurers whose research shows that drivers aged over 70 are ... Car Insurance. Uninsured Cars To Be Crushed Are you one of the one in twenty motorists who regularly drive without insurance? You'd better watch out - your car could be heading for the crusher and shipped off to the world's biggest scrap smelter in China! New powers now allow the police to seize, impound and crush any car found on the road without insurance. A pilot scheme was introduced in Durham last spring. Since then, police have impounded more than 1,200 cars. Of those around half have been crushed into cubes ... Car Loans Drive Down The Cost Most car buyers spend hours researching the makes and models of car before deciding which to buy. Then four out of ten rush out to the showroom and sign up for the car within 30 minutes of stepping inside. But will their painstaking research extend to sourcing the cheapest finance package? Probably not. Whilst around 50% of new cars bought privately are purchased on finance, nearly 20% sign up in the showroom for the finance deal offered by the manufacturer. Unfortunately... Credit Cards Shamed Into Cutting Charges The Competition Commission one of the governments watchdogs, has at last moved to shame credit cards in to cutting their charges. The long overdue move comes after the Commission concluded that the credit card industry was overcharging customers between £55 and £100 million each year through excessive interest rates and other charges. And this has been going on for a least 3 years! The main culprits by far are store cards where interest rates are as high as 30.9% - even th... Credit Cards Watch Out When Using Your Credit Card Abroad Going on holiday or business to Spain, France or Italy this year? Then watch out for a new ploy to overcharge your credit or debt card. Many restaurateurs and retailers in these countries now have the facility to get you to authorise your bill in euros but then they recharge your card in sterling. That sounds innocent but there's a sting in the tail. The retailers charge you an additional service fee of up to 4%! The system is called dynamic currency conversion (DCC). ... Credit Cards – The European Credit Card Sting Traditionally, using plastic abroad has always meant big charges. Things are a lot better these days, but they have taken a downward slide again in some European countries, as they get the option to add an extra charge to your bill. In France, Italy and Spain, many of the bigger restaurateurs and retailers have a system called DCC – dynamic currency conversion. It means they can convert your payment straight into sterling for you, at the till. This may sound tempting, but... Credit Problems? Tackle Them Head On. Hate opening the post? Dread receiving the bill and Bank Statements? Sounds like your finances are becoming a problem. The ostrich solution never works when it comes to debts – they just don't go away that easily. Take a tip - there's never a better time like the present to tackle a debt problem – as soon as piling bills give you a knotted feeling in your stomach, face up to the problem. Here's some practical advice. Make savings on your credit card bills. Sav... Critical Decision Time? The results of an EU study have just been released They may leave you feeling just a little uneasy with regards to your future plans Critical Illness Cover – Tell All Life insurance, term assurance, critical illness cover, level term, pension term and Uncle Tom Cobley and all Confusing, isn’t it Custom-built Mortgages As everyone knows, house prices have hit the highs in the past few years As a result, many homeowners are sitting on a very nice build-up of equity in their homes Fraud. Beware Of The Fraudsters According to Which, the consumer watchdog, about 5 million of us have been targeted by fraudsters and have lost money as a result. Fraudsters are clearly finding rich pickings! So what are the most widespread scams and how do you steer clear of them? Here are six scams to be aware of. You've won a lottery prize Here you receive a letter, or e-mail telling you that you've won a big prize on some lottery you've never heard of. All you have to do is pay an administra... Health Insurance – Not As Straightforward As It Would Seem Most of the seven million people covered by health insurance in the UK have a policy provided by their company. As such it is a useful benefit, but many of us assume that it will cover any kind of health issue and this is definitely not the case. The insurers exclude a wide variety of possible claims, and this article will explain those in detail. Health insurance has a very specific purpose – to get people suffering from short-term, curable health problems straight throu... How To Pay Less On Home And Contents Insurance Buildings Insurance went up again last year, costing homeowners another 1% a year, taking the average to just over £205 for a year's insurance. Contents insurance also went up, this time by 2% - now it costs the average homeowner £151 a year. However, some lenders are hiking prices even higher than that – Norwich Union for example, raised its prices by a whopping 6% last year. The question is - why? There's so much competition out there, you'd expect prices to be falling, ... Insurance – Check the Facts? It’s a staggering fact that almost half of people in the UK have no form of life insurance, many don’t have home contents insurance and many have only the minimum level of car insurance This amazing fact was disclosed recently by one of the world’s major insurance companies Interest Only Mortgages – FSA Makes Move To Protect Homeowners Abbey recently stated that over 25% of homeowners decide to take out an interest-only mortgage. It's not hard to see why – the monthly payments are significantly less, just look at this example based on a 25 year £125,000 mortgage at 5%. The interest only mortgage will cost £525 per month - but the repayment mortgage is £735 per month – an additional £210 a month – that's a lot of money! At the root of the issue are the first time buyers – they simply can't afford the rep... Life Insurance And Critical Illness Insurance. Cancer Tests To Increase Women's Premiums Ladies, if your mother or any other female blood-line relatives have a history of breast or ovarian cancer then from next year onwards, you could face higher insurance premiums. You could even be refused cover altogether. When these women apply for life and critical illness cover, the insurance industry wants to ask them whether they have been tested for the gene mutations BRCA1 or BRCA2. These are the gene complications that increase the chances of them developing these ... Life Insurance Take A Last Gasp And Count The Savings! We're not being insensitive, honestly! We're talking about your last gasp of smoke – have you given up smoking recently? Did you know that smokers paying up to 60% more for their life insurance cover compared to non-smokers. So, besides the health dividend and the money saved on cigarettes, insurance companies will chip in with lower life insurance premiums. And the insurance savings aren't to be sneezed at! A typical policyholder could save at least £10 or more per month...
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