It can be hard to purchase a new home, but with the first time buyer scheme; this can give you an eligible way to purchase a home. Having high property prices, it can be impossible to save at least 20 percent deposit. Hence, the United Kingdom government established a scheme to aid those who want to have a new home without a high deposit. In order to become eligible, you need to possess the following:

  • Search to purchase a home that is less than 600,000 euros
  • Deposit of at least five percent
  • The property you will purchase is your first mortgage as well

The first time buyer scheme is comprised of mortgage guarantees and equity loans. The first you need to know is the mortgage guarantees:

  • You need to make a deposit of at least five percent
  • The government guarantees any mortgage borrowing that is higher than 80 percent of the property value.
  • You can borrow up to 95 percent of the property price from the lender.

The borrower should know that the whole loan is accountable to sole payment. This means without repayment of the loan, it could fall into repossession. On the other hand, the lender only acquires lesser risk because it is in small amounts. Nonetheless, the government is providing lenders the freedom to set their own interest rates as part of the scheme; hence, there are no guarantees to acquire an attractive rate.

How to Equity Loans Work

Another part of this scheme is the equity loans wherein it is open to home movers and first time home buyers in England. In equity loans, the government will provide a loan of up to twenty percent the price and the borrower should contribute at least five percent. The 75% should cover the rest. Of course, the property will be under the borrower’s name, which means that you can sell the house any time. You need to pay back the equity loan whenever you want to sell the house upon reaching the mortgage period. You can tale to a lender or an agent if you want to acquire the first time buyer scheme.

A modern day occurrence is people renting rather than buying insurance. Working individuals who live alone find this arrangement suitable financially. When you rent a place, you accumulate and bring with you things. Some are valuable and other not that valuable. You also need protection for such content inside your rented place. Such protection is commonly referred to as contents insurance. What is included in contents insurance? It is anything insurable and valuable inside your rented place. You can insure your appliances, electronic equipment, antique pieces and anything the provider will accept. You will never know how valuable it is until an incident happens.

It Includes Every Item Inside Your Home

Even if contents insurance is not compulsory, you must take advantage of it because some items may be difficult to replace when they are lost due to fire, due to theft or any other damage.  Computers, high-end video home systems, jewellery and even clothing can be covered by such type of insurance. Some items can be damaged by just any incident. It can be damaged by leaked water, smoke or even simple theft. This is why you need this kind of protection. All the contents inside your rented place can be given protection if you need to.

It Includes Items That Are Not Valuable

The content inside your rented place is composed of both valuable and not so valuable items. Even though contents insurance is not compulsory, and some items may not look valuable, you still need it. The paradox is that some items may not be valuable to other but it is valuable to you. For instance, a musical instrument may not be valuable to others, so they do not want to cover it. But if you are into music, then your musical instrument is valuable and you need insurance for it, to replace it if it becomes lost or damaged.

It Includes Items That Are Very Valuable

Very valuable items must have contents insurance. This can include jewelry and certain kinds of unique furniture. Some have rare paintings and art pieces inside their rented place and you need insurance cover for this. They may be irreplaceable but at least you can recover a portion of the cost of replacement. You must be aware that anything can happen and at any given time. This is the concept of this type of insurance. Your valuable can be lost anytime through fire, theft, water damage, paint or just about anything. Without protection, you will be in for a total loss.

It is difficult to raise the amount if you lose something suddenly. This is the reason for contents insurance. You need it to protect your belongings, especially those that you value the most. But when you get a policy be sure to be aware of all the inclusions and exclusions for this special type of insurance.  For instance, if you live in a shared accommodation, this type of arrangement can affect your insurance cover. Find out more about this type of insurance before deciding to get cover.

You got involved in missold pensions and you just discovered it. What could be your next move? What are you to do since you were missold? There a certain things that you have to do if you plan to get a refund from the transaction. But first you need to establish certain things and part of this is documentation. Make sure you have the original documents with you if possible. This can help you a lot. The more complete your documentation, the better chance you have in filing the claim and eventually getting your refund. If you want to increase your chance then you must have all this.

Check if You Were Really Missold

There are lots of circumstances that can cause missold pensions. You need to check then, if your circumstance is included in the misselling list. You can be missold for a lot of reasons. For instance, if the pension provider did not explain to you where you savings will be invested then it can be grounds for misselling. But like other financial products that get missold, the issue is always that of suitability. If the personal pension scheme is not suitable for your circumstance, then you can file for a claim if this can be established.

File for A Claim with the Provider

The moment you establish the fact that you were into missold pensions and you have the documentary requirement in place, you can now file a claim with the provider. Regulators give the pension provider enough space to review and act on your claim. But they have a maximum of only eight weeks to act on it. If they don’t act on it, they are required to return your saving intact plus interest at the current rate if it is applicable. While providers may contest your claim, as long as your claim is valid and you have the original documents, they really cannot get away with it. They will be forced to give you a refund to your claim.

Know Your Rights and Wait for the Result

You have rights when it comes to missold pensions. You have to know your rights as a consumer and then you wait for the results. The claim department of pension providers must be made aware that you know what you are doing. Before regulators stepped in, pension providers sometimes just reject a claim outright citing one reason or another reason. This can never happen if you know your rights and you have enough knowledge about what misselling is all about and your rights to file for a claim.

When you add information from regulators to this, then pension providers will do the transaction right for you. If you believe you got into missold pensions, then you have every right to file for a claim and an eventual refund. However, you need to establish everything and put everything in place. It was be clearly established that you were missold and the reason must be cited and you must have the documents ready.

In working on your PPI claims made simple there are certain factors involved that will ensure a successful claim. Claims companies have studied the complaints and disputes the Financial Ombudsman Services (FOS) have approved and have used them as guide in helping their clients assess the facts of their case. If you want a high percentage of success in your claims, it is best that you work with a PPI claims company.

Banks have mis-sold PPI to consumers who have availed of their Credit Agreements out of greed. The Payment Protection Insurance (PPI) is a highly profitable product and banks have made it a point to sell it, to the point of mis-selling it to increase profits.

Ensuring Successful PPI Claims Made Simple

The mis-selling of PPI has been so widespread.  Banks have been required to set aside a huge amount of funds to refund and compensate consumers who have been victimized. The funds made available by banks and financial institutions continue to increase.  More and more consumers are starting to realize they have been victims of mis-sold PPI and have started to work on their PPI claims made simple.

Although banks are obliged to refund all mis-sold PPIs there are three main factors that will ensure a successful PPI claim.

  1. You should prove that you have been granted the loan 10 years prior to your filing for a PPI refund.
  2. You should prove that you have bought a PPI policy at the same your loan was granted.
  3. You should prove that you have been mis-sold the PPI policy by the bank or financial institution that granted you the loan.

If you are able to prove all these, then you have a 95% chance of having successful PPI claims made simple.

Are PPI Claims Made Simple Applicable for Fully Paid Loans

Refund and compensation for mis-sold PPIs are applicable for both loans which are not yet fully paid as well as loans which have been fully paid.  Even if you have already paid off your loan you are still eligible to work on PPI claims made simple and receive refund and compensation for your mis-sold PPI.

To be able to file a PPI refund for a fully paid loan, the last payment should be within six years from your filing of a PPI claim. Banks keep records only six years thus if your last payment was more than six years ago, you need to produce your own paperwork to ensure a successful PPI claim.

PPI Claims Made Easy, Credit Ratings and Relationship with Banks

Filing for PPI claims made simple and successfully receiving refund and compensation will not in any way affect your credit rating and your good relationship with your bank.

Consumers are overly conscious of credit ratings. Credit ratings dictate whether or not you will be approved for loans and mortgages. The PPI was sold alongside other financial products, specifically loan, mortgages and credit cards. The mis-selling of the PPI has been so widespread making consumers feel that filing a PPI claim may have an adverse effect on their credit rating and relationship with their banks.

Filing a claim for mis-sold PPI protects a consumer from any bias or prejudice on his Credit Rating as well as his relationship with his bank.

PPI Claims Made Simple and Missing Paperwork

It is important to have all the necessary paperwork when you file PPI claims made simple. If due to any reason you are unable to find your file of the needed paperwork, you can request your bank to furnish you with the required paperwork. The Consumer Credit Act states that a consumer can request in writing his bank or creditor to furnish him with a copy of the paperwork he needs. The request for copy of paperwork comes with a minimal fee.

There are a lot of options available for consumers to claim a refund for mis-sold PPIs. All the necessary resources and policies are mostly in the favor of the consumer. The most important thing required from a consumer is to prove that he has been mis-sold a PPI. PPI claims made simple are an easy task as long as you know your options and the best ways to receive a successful refund.