Does Independent Financial Advice Find the Best Deal FOR YOU PERSONALLY?
After what feels like a long time in recession, lenders remain not keen to lend and until the UK general election is over, it doesn't feel like very much will probably change.
Pre market meltdown times had a mortgage market providing in excess of 25,000 different mortgage deals and loans galore, but today the united kingdom markets have less than 5000 mortgage products on offer to the consumer.
Where did the market meltdown come from and could it happen again?
THE UNITED STATES finance markets imploded in the 4th quarter of 2007 due to bad credit on the total amount sheets of large finance institutions, which ultimately caused what is known as a market meltdown.
In a market meltdown, lenders stop lending and start hoarding cash because they're afraid of rising bad debts, resulting in bankruptcies and loan or mortgage defaults. They charge higher interest levels in a bid to stem the flow of business or reject all however the safest loans.
The UK economy have been flooded with accessible borrowed money since the mid 90's, however the credit crunch meant that tightened credit would spell trouble for companies who needing funding by means of loans to pursue their business plans and the consumer, who had become used to freely extra cash they didn't have, but could easily access on credit cards for expensive purchases such as luxurious holidays and smart cars.
The solution to could it happen again is a simple one, YES!
If https://redfynn.com/partner/">Click here for more for investment in more risky markets returns, that you've to say this will, then pushing the limits commercially to get extra percentage market share and profit, may lead to the whole thing happening all over again. Having said that, it will require sometime to obtain there, as returning confidence to dabble by investors will be slow to come back, but memories will return and the painful effects will be forgotten.
So, how may be the man on the street directly affected?
UK mortgage and loan lenders are releasing more services on a regular basis and the best mortgage deals of today are soon replaced tomorrow, but the very good news is that the deals are getting better and better. The percentage levels that lenders will loan to is increasing and a 90% mortgage, with a competitive interest rate is out there to be found, if you know where to look.
Just how do Independent Financial Advisers add value?
Independent Financial Advisers (IFA's) are well placed to search the marketplace, compare mortgage rates on their client's behalf and secure an excellent mortgage rate to suit the borrower's exact needs. Along with finance, IFA's can offer a good value for money service if you are looking to source good quality, affordability, but cheap life insurance coverage cover and pension plans, with advice that's specifically tailored to the individual or families needs.
Financial advice is available in many guises, the internet has led to a plethora of channels being designed for the consumer to utilise when seeking insight. Finance related price comparison websites have the added advantage of being a one stop shop for all mortgage, loan and insurance needs. By completing your details once, you have the advantage of using their services to trawl the marketplace and find you the very best deals available, but there's still an argument for using the services of an area to you, independent financial adviser. The IFA may take the time to understand any unusual circumstances that you may have and tailor their financial advice accordingly and some finance price comparison websites are now offering both options under one roof to facilitate the requirements of a far wider consumer group.