Digital photo frames have come down in price and let us face it what better way to show off your family than to give one of these for Christmas.

The Matsui 7" has been dropped to £19.99

What is the difference between a secured loan and unsecured loan?

When you borrow money you will have either a secured loan, where the loan is secured against your property for example, or an unsecured loan where on default of payment the lender would have to take you to court to get the loan repaid.  

A mortgage is typically a secured loan in that if you default on payments the lender have the legal right to sell your home to recoup any losses. This is what is known a repossession.

Where you default on payments on an unsecured loans then the lender needs to take out a civil action in a court to recover their losses this could still eventually lead to the loss of your home, however less likely.

The word mortgage has an etymology believed to be from Old French mort meaning dead and gage meaning pledge.

In a traditional sense for most of us a mortgage is a loan on property where the deeds for said property are held by the lender until the loan is repaid.  

The mortgage lender will loan you the money to purchase a home or land from the present owner, The deeds for the property are then transferred to the mortgage lender from the present owner since this is there insurance against you defaulting on the debt since without the deeds you cannot resell the property. After you have repaid the loan and interest, which is typically over a 25 year period the mortgage lender will then release the property deeds over to you.

There are a number of different schemes in which the loan is repaid and I hopefully will be outlining some of these in forthcoming blogs. What I cannot do is advice you on your personal circumstances, for this you need to consult an Independant Financial Advisor or IFA that in England is governered by the FSA or Financial Services Authority.

Why pay more than you need to for your mortgage?

Buying your own home is something high up on many peoples agenda and just like anything other product shopping around the market can result in some really good deals.

Car Insurance part 3

Well in part two we had Insurance Choice and now we have our first price comparison website. Check their prices and then look at the others listed to see how they compare.

Car Insurance part 2

So we begin the process of listing the different companies for you to search through.

The order in which I will be adding these companies is the order as I locate them. Right so this one is Insurance Choice. To save you time I have taken the liberty of copying the requirements for you to be able to obtin a quote from them and placed below. Provided you can answer YES to all of them you will have no problems.

You and any other driver

• Have been continuously resident in the UK for the past three years
• Are legally entitled to drive with a valid licence
• Are aged 17 to 79
• Do not have more than one occupation
• Do not have any non motoring convictions or have been imprisoned
• Have never been refused insurance
• Have not been involved in an accident resulting in a claim for personal injury
• Have never had special terms imposed on an insurance policy of any kind
• Will only be using no claim bonus previously earned on a private car policy
• Do not have any medical conditions that are legally required to be disclosed to the DVLA

The Vehicle -

• Is a right hand drive and first registered in the UK
• Has not been modified from the manufacturer's standard specification
• Has no more than seven seats
• Is normally kept at your home address when not in use
• Is not used for private hire, public hire, competitions, rallies or any purpose in connection with motor trade.
• Is owned and registered by the proposer or proposer's spouse
• Is not ‘Q’ Plated