Parents and students considering loans for university
October 3, 2007 by admin
Filed under News, News-Loans
Many of the UK’s parents have admitted that their children will need to take out a student loan before going to university.
According to research from Halifax, 57 per cent of parents admit their offspring either has a student loan already or is planning on arranging one.
What’s more, 11 per cent of respondents said that they were thinking about taking out a personal loan in order to help cover costs, while 63 per cent will use their own earnings and 59 per cent will draw on savings.
“For most parents, taking your child to university for the first time is a proud but emotional moment,” said Neil Chandler from Halifax. “It is important to consider how best to support your child with the minimal amount of strain on your pocket as this commitment is likely to last for several years.”
The study found that 96 per cent of East Anglian parents would forgo home improvement plans to finance a child’s further education and 79 per cent of those in Wales would give up a holiday.
A recent report from Moneyfacts warned students over the often high interest rates applied to credit card deals available to them – which can be as much as 20 per cent typical APR.
Personal loans an option for home improvers
April 3, 2007 by admin
Filed under News, News-Loans
Personal loans are an option that people considering carrying out expensive work on their homes should consider, Alliance & Leicester has said.
According to the company, improvements such as loft conversions can add up to £100,000 to the value of a home.
However, developments like these do not come cheap, with the average cots of a dormer loft conversion currently around £23,000.
Many homeowners may instantly think to add such an expense to their mortgage, but Alliance & Leicester claims that a personal loan could be up to £15,000 cheaper in terms of interest payments.
“Carrying out home improvements instead of moving can have amazing results, potentially increasing the value of your existing property and also saving a great deal of money as well,” said Richard Al-Dabbagh, senior personal loans manager for Alliance & Leicester.
“If you are looking to undertake a sizeable home improvement, there will be a massive temptation to simply take out a further advance on your mortgage. But a personal loan could represent a cheaper alternative for those who can afford higher monthly repayments over the shorter term.”
