Mortgage rates on the move

In a turbulent economy, it pays to make good use of technology. In fact, few homeowners can afford to be without certain tools, not least a real-time mortgage calculator.

As high inflation continues to prompt talk of the Bank of England increasing the base rate, homeowners with tracker and variable rate mortgages can ill afford to take their eyes off the market.

Of course, juggling everyday commitments whilst maintaining careful watch of mortgage rates can be extremely difficult, but certainly not impossible, thanks to the leading smartphone mortgage apps.

Mortgage apps are available for the main types of smartphone, including the iPhone and BlackBerry and those running the immensely popular Android operating system.

One of the most popular and highly rated mortgage apps for the iPhone is London & Country’s Mortgage Assistant app, which can be download free of charge from the iTunes store.

Produced by London & Country, one of the UK’s most successful independent mortgage brokers, Mortgage Assistant comprises all of the features that a homeowner might require and expect of such an app.

In addition to a calculator, the Mortgage Assistant app displays information on early repayments, rate changes, stamp duty and overpayments. Crucially, the app also provides up-to-date mortgage rates supplied by the leading lenders.

Not everybody has an iPhone. The Android operating system, in fact, is slowly beginning to dominate the smartphone market but are there any good mortgage apps for Android devices?

Yes. Plenty. Karl’s Mortgage Calculator, Vincent It Mortgage Calculator and various other apps with or without a proper noun prefix are available for Android devices. Importantly, most are free to download and use.

Arguably the best Android mortgage app is Mortgage Calculator UK by Shivam Gadhia. Available at no cost to the user, the app focuses heavily on its most important feature, which is the calculator itself.

Although not as comprehensive as many other mortgage apps, especially those affiliated with some of the leading lenders and brokers in Europe, Gadhia’s app is easy to use and surprisingly accurate.

Another popular app for Android smartphones is called Mortgage Refinancing PRO, which is a free-to-use program (an option to upgrade to the full PRO version costs £2.79) that provides invaluable guidance for people who are looking to remortgage their properties.

Cheaper than Mortgage Refinancing PRO, the Get Your Home Refinanced app for Android devices includes even more details of refinancing and remortgaging, but only costs a fraction of the cost – £0.87 for the full app.

Finally, Mortgage Refinancing Pro is arguably one of the most popular and useful mortgage apps available for BlackBerry smartphones. Priced at $2.99 USD, the app is designed by Davide Perini, who also developed the more expensive Mortgage Calculator PRO.

Mortgage Refinancing Pro is actually a scaled down version of the Pro calculator software, so similarities exist between the pair. The app is an invaluable reference tool for anybody who needs an accurate, up-to-date mortgage refinance calculator.

In conclusion, there are plenty of ways to keep track of mortgage rates on the move by using modern technology. Smartphone apps provide instant access to real time mortgage rates, calculators and refinancing.

Tags: europe, Home Refinanced app, program, proper noun prefix, mortgage apps, economy

Insurance company wins award

A leading insurance company that deals with private medical insurance has won an award that could see it becoming an even more popular choice amongst companies and individuals that are looking for a private medical insurance plan. The award was won by the insurance giant Aviva UK which won the award for health insurance company of the year at the recent Health Insurance Awards that were held in London.

The winner last year for the same award was Bupa, but Aviva pipped the rival provider to the post and took the crown for this prestigious title. The company also won two other awards during the evening, and this could really boost its profile and increase its popularity, both on a personal basis and a corporate one. Bupa also lost out when it came to the international private medical insurance award, which it has won for nine years in a row – this year it lost out to IMG Europe.

Aviva officials have said that they have been focussing on making healthcare easier for their customers by providing them with a range of tools and resources to make it easier for them to take care of their health effectively.

One official from the insurance giant said: “Aviva has developed several online tools such as a BMI calculator and MyHealthCounts to help our customers better manage their health.”

More and more people are becoming interested in private health insurance cover, as they become more conscious about their health. There are a number of providers offering competitive deals on private medical insurance cover, and it is important for anyone that is considering taking out this sort of cover to make sure that they compare different deals in order to get the most competitive price and the most suitable plan.

Tags: Health Insurance Awards, Health care, corporate, europe, insurance company, official, IMG Europe, prestigious title

Warning about Iceland banks was ignored by UK

According to a recent report warnings that were issued about Icelandic banks were ignored by the UK government, resulting in officials being accused of complacency. It is alleges that warnings over the possible collapse of Icelandic banks were given as far back as July, but the government paid no heed to these warnings. The issue was raised with government ministers on two separate occasions according to reports, and this was by Lib Dem peer Lord Oakeshott and Tory MP Michael Fallon. Read more

Tags: Michael Fallon, europe, iceland banks, lib, retail depositors, MP Michael Fallon

Fuel poverty could affect a quarter of households

According to a recent report fuel poverty could be affecting a quarter of households in the UK by the end of next year, with huge hikes in energy prices over the course of this year resulting in an increase in the number of households that are paying 10% or more of their total household income towards energy bills. Read more

Tags: business, fuel, business enterprise, fuel poverty, lot, Business Finance, europe, nettle

Rising Energy Costs Could Be Disastrous For Households

With the rising costs of gas and oil, millions of households in the UK could find themselves in critical financial difficulty in the coming months. This is the warning of an MP committee in light of the fact that the energy costs faced by many manufacturing companies in the UK are substantially higher than in the rest of Europe. Read more

Tags: manufacturing, europe, foresight, storage, lack, Household, ofgem

Drivers ‘failing to check cover for Europe’

More than 4.3 million Britons plan to drive their vehicles to Europe this summer but many fail to inform their insurer, a report has revealed.

Research published by car insurance supplier Sheila’s Wheels shows almost half of motorists now take their cars when holidaying in Europe, rather than choosing to catch an aeroplane.

Furthermore, 15 per cent of drivers admit simply assuming they are covered for driving overseas and would take their cars to Europe without checking.

It discovered that 18 per cent of people would check their documents before taking their cars abroad and only ten per cent would phone their insurance providers to check their cover was valid.

Jacky Brown at Sheila’s Wheels car insurance said: “When planning to take a car to Europe, it is crucial for motorists to call their insurer and tell them that they want to extend their level of cover for driving abroad.”

Sainsbury’s Bank also published research this week suggesting that 17 per cent of people plan to take their motors abroad during the next year.

Tags: published research, britons, europe, Insurance, plan, checking

Having multiple credit cards ‘can be confusing’

Having a number of different credit cards can be “confusing” for spenders, claims a consumer guidance charity.

The Consumer Credit Counselling Service (CCCS) said that there are many reasons for people having more than one card – plastic may be used for work, one could have a transfer balance with a low interest rate and another one could be used for purchases.

However, James Ketchell, spokesperson for the CCCS, said: “It can become confusing and people have to really stay on top of their credit card spending and finances as a whole”.

He adds that in the UK, the economic model is similar to the US more than Europe due to the ease with which credit can be obtained when making purchases.

According to a report by Datamonitor, the average Briton held 1.4 credit cards at the end of 2006.

This figure is twice as many as second place Norway, while the UK has the highest number of payment cards overall – 2.8 credit or debit cards each.

Tags: europe, Credit card, consumer guidance charity, US, Debit cards

InterRailers should take out adequate travel insurance

InterRailers should ensure they have adequate travel insurance when exploring Europe, an financial expert has warned.

STA Travel said that insurance should be part of the essential preparation a traveller undertakes before setting out on an interRailing trip.

A spokesperson for the company said: “Take insurance. With all your possessions in one bag, it is advisory to take adequate travel insurance. Also, make sure your insurance also covers the loss/theft of your InterRail pass.”

She added that those embarking on a journey could save themselves money by booking accommodation in advance of arriving at their destination, or travelling by night which could completely remove the cost of hotels.

Recent statistics from gapyear.com showed that a quarter of young travellers go abroad uninsured or underinsured, which puts their parents’ homes and financial security at risk.

According to an article on guardian.co.uk, the number of people taking a gap year continues to rise.

The market was last valued at £5 billion in a Mintel report of 2005, but is predicted to rise to £20 billion by 2010.

Tags: parents, journey, risk, com, finance

UK Life insurance market very competitive

A spokesperson for Libra Financial Planning has announced that while “the life insurance market in this country is very competitive” and that prices are falling.

He said that premiums can vary greatly in terms, price and all the extra add-ons available, but the marketplace is still very competitive.

“I would say the market is quite strong,” he added.

The cost of life insurance appears to be falling due to people living longer say the organisation.

The impacts of medical improvements and healthier lifestyles are having a significant on our population and as a result people are living longer, said the spokesman.

Figures from the Financial Services Authority have revealed that by 2031 the life expectancy for men will be 81 years and for women, 85.

According to Prudential, the UK life insurance market was the largest in Europe and the third largest in the world in 2004, with approximately £105 billion of net premiums written.

Tags: net premiums, result people, improvements, life expectancy, result

Londoners most keen on living abroad

People living in London are the most likely in Britain to take out a mortgage on a foreign property.

New research by Bank of Scotland International (BSI) shows that eight per cent of Londoners already own a home abroad.

In addition, a further 52 per cent have considered making a move overseas, putting Londoners well above the British averages of four per cent and 42 per cent respectively.

Those in the capital who already own a foreign property are closely followed by the South East, where seven per cent of people are already on the foreign property market.

The most popular foreign destination to set up home for Brits is Australia, with ten per cent saying that they would consider upping sticks and moving down under.

France is the top European destination and is closely followed by Spain.

“Londoners certainly are the most active when it comes to moving abroad or buying a home abroad,” commented Tony Wilcox, managing director at BSI.

“When looking to live temporarily or permanently abroad it is important to have the right products and services in place.”

Moving abroad can have many financial benefits for Brits who have had enough of the high property prices in this country, however, careful consideration and planning must go into the move for it to be a success.

Tags: 1 cent euro coins, Brits, financial benefits, europe, tony wilcox, buying a home

Contactless cards are on their way

The UK banking industry has confirmed that plans are in place to roll out contactless technology for debit and credit cards.

We could see the new system being put in place as early as September of this year, with consumers receiving new cards and retailers getting new receivers.

The UK payments association Apacs has revealed that transactions on the contactless cards will be limited to no more than £10 and users will not need to enter their pin number each time they make a purchase.

Apacs is assuring customers that their cards will remain safe and says that every now and then they will be required to enter their pin number for security reasons.

The cards will initially be introduced in London, spanning from the City to Canary Wharf, with a larger roll out planned across the whole of London and eventually nationally by the end of 2008.

The cards are being touted as an easier and quicker way for consumers to purchase everyday items and the banking industry believes that their introduction will encourage shoppers to use their cards rather than paying for low-value items with cash.

“We are confident that consumers in the United Kingdom will be quick to adopt contactless payments as they are faster and more convenient than cash increasing both the number of cards in issue and, as retailers benefit too, places where they can be used,” commented John Bushby from Mastercard Europe.

Cardholders should wait for correspondence from their card company to see what they need to do to get a contactless card.

Tags: year, United Kingdom, new cards, europe, introduction, bank