Making it easier to get finance

One of the most important factors for lenders who are considering extending any form of finance to you is your credit file and rating, which will often determine whether or not lenders will be prepared to extend finance to you or not. Whether you are applying for a loan, credit card, store card, catalogue, or mortgage you will find that your credit file and rating can have a huge impact on your level of success.

For anyone that needs to take out finance and is relying on being able to get that finance it is important to do everything possible to boost your chances of success. Of course, no matter what measures you take there is still no guarantee that you will be able to get the finance that you need. However, you can increase your chances of getting it through measures such as keeping your credit file and score in check.

Maintaining responsible and timely payments on bills and debts will help to ensure that your credit file and score is not damaged. Also, showing that you can manage money responsibly will help, which means not having a range of credit cards that are maxed to the hilt or applying for finance on a regular basis – all of this will show up on your credit report.

You will be able to check your credit report on a regular basis either by ordering copies or even by checking them online, which is the easiest and most convenient way. Checking your credit file on a regular basis will ensure that you are not penalized for incorrect, inaccurate or out of date information, as you can look out for any information that is not correct and get it sorted out right away.

Tags: convenient way, timely payments, store card, important factors, hilt, lenders, regular basis

£13bn worth of uninsured clothes

We are all buying more clothes, but research from Prudential Home Insurance shows that few of us are taking the time to insure them.

Around 25 per cent of us are said to own at least £2,000 worth of clothes, while six per cent of us have a wardrobe that holds over £5,000.

In spite of the growing value of the glad rags we own, Prudential has revealed that the majority of us do not take out insurance as protection, with £13 billion worth of shoes, clothes and accessories lying around uninsured in homes across the UK.

To make matters worse, Prudential points out that now is probably not the best time to be spending so much money on clothes, as the level of UK personal debt currently exceeds £1 trillion.

“It is concerning that despite the average Brit being in £27,455 worth of debt, many are still prepared to spend so much on fashion regardless of whether they have a steady income,” said Phil Southgate from Prudential Home Insurance.

“The increasing popularity of low-cost clothing shops means that people are encouraged to spend money on a regular basis with the growing trend for disposable clothing.”

One of the most surprising figures to come from the research is that those out of employment are more likely to own more shoes than those who work, with 38 per cent of unemployed people owning between six and ten pairs.

According to Prudential however, the most alarming thing is that so few of us insure our clothes.

“It’s amazing how so many people fail to insure the contents of their wardrobes, especially considering that a fifth own up to three expensive designer items,” said Mr Southgate.

“It is important that people assess the value of their wardrobes on a regular basis.”

Tags: regular basis, wardrobe, Business and Economy, life insurance, home insurance