Is Alliance and Leicester safe?

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About 4% of all mortgage holders in the UK are Alliance and Leicester customers. Therefore, there might be a few of them who are understandably a little nervous at the news that Alliance and Leicester lost 33% of its value recently. Traders were literally dumping Alliance and Leicester stock as they feared that it might follow Northern Rock into crisis.

The reason there have been so many fears is that Alliance and Leicester raises money for its home loan business on the financial markets, rather than from customer deposits, in much the same way as Northern Rock. Therefore, with the company share price hitting such low levels, mortgage customers and savers are bound to ask themselves whether they are safe with the bank.

Well judging from the response that the Bank of England has made to the Northern Rock crisis, there is good reason to believe that customers are safe. If you have a loan with Alliance and Leicester you may wish to think about locking yourself into a fixed rate for a while, as the bank’s variable rates may be forced up as the bank seeks to get some funds. However, if you have a fixed rate you should be safe and you will not have to pay more than what your fixed rate is set at.

If you have savings with Alliance and Leicester then you can be pretty confident that the government will step in to guarantee all savings in order to maintain confidence in the system.

 

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Credit Card Interest Rip-Off

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According to a survey by Nationwide Building Society only 29% of credit card customers are aware of the fact that many credit card providers always pay off debts charged at the lowest interest rate before paying off the debts with the higher rate of interest, making themselves an additional £500 million each year from this credit card interest rip-off. Most credit card companies use this method to reduce the balance owed on your account to suit them, not you - a sneaky way of maximising the interest that you end up paying.

Most people are too optimistic in the sense that many credit card customers trust in their credit card company too much and assume that the company has their best interest at heart, when if fact it only has interest in the amount of money they will be able to make off of their customers’ debt.

Figures from the survey reveal that 18% of people assume that the longest outstanding debt is paid off first, with another 12% believing that the items with the highest interest rate is paid off first. What seems to be the most disturbing is that a large percentage admits to not having a clue as to how their debt is paid off; roughly 26% admit to not knowing how their debt is paid off. However, this could all change as the Department of Trade and Industry has ruled that starting in October 2008 all credit card providers must draw attention to the order in which payments are made. This is part of general trend towards governing bodies keeping an eye on financial services, such as personal loans, insurance, banking and other forms of consumer credit agreements.

Consumers finding themselves paying vast amounts each month from their credit card bills and yet paying little more than the minimum amount would be wisest to concide. usually find that they can continue paying the same each month in loan repayments and yet most of the sum repaid will be capital, not interest, leaving them to clear the debt in record time.

 

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Payment Protection Insurance

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Payment protection insurance is a type of insurance that some lenders require borrowers to have if they are unable to provide a down payment, or provide a very small down payment. Often lenders will also require those with a bad credit history or no credit history to have payment protection insurance on the amount that is being borrowed. Lenders may even offer payment protection insurance to those who do not require it, and often make people feel as though the insurance is necessary in order to obtain a loan.

Payment protection insurance is an insurance that covers your monthly repayments should you end up unemployed or in an accident where you are unable to work. It sounds like good coverage, however it can be very expensive. On a three-year loan of £5,000, you could end up paying £500 or even £1,000 extra on your loan for the payment protection insurance.

Some online loan quotes will automatically include the payment protection insurance in the cost of the loan. So be cautious of that, and ask for a quotation without the payment protection insurance. If you know that you are able to cover your monthly repayments and have an emergency fund or savings account set aside, then you may want to mention that to the lender when you are applying for a loan. You should never feel intimidated or forced to take on the additional payments for a payment protection insurance plan. Often, lenders will make you feel that you unless you take out their payment protection insurance policy your loan will be refused. However, that is untrue, and you should never be required to make payments on something that you do not want, or need. Often if you already have insurance you may find that your current policy will cover your financial expenses. So check into that before applying for a loan, so

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Pet Insurance

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Having a pet requires much needed loving care and attention, the same way a child does. And just like a child, a pet will also need regular medical check-ups, shots and ringworm treatments. With a range of veterinarian specialists such as veterinary oncologists, dentists, or dieticians, your pet can receive pretty much the same medical treatment that a human receives. For pet owners, this comes as comforting news, however, better medical care means higher costs.

With the rising costs in pet medicine, an option that should be considered is pet insurance. People purchase pet insurance for pretty much the same reason why they buy health insurance for themselves. They want to be able to have peace of mind if ever an unexpected medical problem occurs, and to ensure that they will be able to cover the cost. The same goes for any pet. If ever your pet is seriously injured and requires a life saving operation you want to be able to know that you can cover the costs with your pet insurance and focus on the health of your pet, rather than the price of the operation.

Today, there are several options of pet insurance to choose from. Some of the pet insurance coverage that is available are:

• Routine Care Coverage
This type of pet insurance covers your pets regular preventive veterinary care that will prevent any serious medical problems. This can include an annual physical exam, vaccinations, teeth cleaning, spay/neuter procedure, heart worm treatment, ringworm treatment, flea control, and any other general health care that is provided to your pet.

• Pet Major Medical Coverage
This pet insurance typically will cover procedures that would otherwise end up costing you a few thousand dollars; procedures such as an MRI, CAT Scan, X-rays, surgery, hospitalization, snake bite treatment, accidents, or serious illnesses.

There is a range of pet insurance available to pet owners. Check with a Pet Insurance provider for a range of coverage that you can choose from and obtain advice on what pet insurance is best suited for you and your pet

 

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