www.progages.co.uk/blog

Are you suffering from post-holiday finance blues

Credit Action, the national money education charity, has reported that twice as many British adults managed to get into debt when they went away on holiday this year compared with the same period last year.

Further statistics revealed that while 61% of British holidaymakers admit to overspending while they are away on holiday, over a quarter are alarmed when they come home and discover just how much they’ve spent.

If you’re one of those who has come home to discover you’ve spent more than you thought you had, don’t panic, there are steps you can take to get back in control of your finances.

The first step is to take a good look at your overall financial situation, and if you have run up debts then it’s important to face up to them. Don’t keep those close to you in the dark either, especially if they share financial commitments with you – they can offer support.

Draw up a realistic monthly budget and prioritise your payments, and ask yourself if you can meet them all. If not, look to see if there are ways you can reduce your monthly outgoings temporarily while you straighten things out.

If you’re struggling to meet your financial commitments then it’s crucial you speak to the lenders concerned, you may be able to agree new, more realistic monthly repayments. And if you need professional debt advice there are organisations, such as the Citizens Advice Bureau www.citizensadvice.org.uk, Consumer Credit Counselling Service (CCCS) www.cccs.co.uk and National Debtline www.nationaldebtline.co.uk who can advise you for free.

And, given the current economic climate, if you need to apply for credit as a short-term measure to help you get your finances straight, then it’s a good idea to contact ProGages Financial Services.

Improve your credit rating and follow tips to secure a good mortgage deal

As banks feel the effects of the economic downturn, limited funds can mean that only those with a squeaky-clean credit rating have a chance of securing a good credit deal. For the thousands of homeowners who will be looking to secure a new mortgage deal this year, that doesn’t make life easy.

Here’s how to arrange the best possible mortgage deal:

• Ensure you take into account all of the costs – arrangement fees can really bump up the overall cost you pay.
• If you can afford to, it may be worth shortening the mortgage term – it can save thousands of pounds over the life of the mortgage.
• Don’t exaggerate on your application form – lenders can check the information you supply and if it isn’t accurate you could jeopardise your chances of securing a deal.
• Mortgages can be confusing, if you’re struggling to make sense of what’s on offer then take advice from a Mortgage Adviser.

We offer Mortgage Services in Accrington, Blackburn, Burnley, Nelson, Bolton, Preston and cover all Lancashire areas.

Our staff is multilingual can speak Urdu, Panjabi, Gujariti,Hindi and English.

Please give us a call and get better and suitable products.

07870584425

www.progages.co.uk

Mudassar Iqbal, CeMAP, BA, NVQ Level 4 Advice and Guidance, Diploma in Accountancy Practice and Diploma in Book-keeping

Loss of data puts customers at risk of identity fraud – what can you do to protect yourself?

Several million bank customers were put at risk of becoming victims of identity fraud last week when their personal details ended up on a computer sold on eBay. The computer, which sold for just £35, contained customers’ sensitive data on its hard drive. Details included bank account details and in some cases customers’ signatures, mobile phone numbers and mothers’ maiden names.

Such data breaches are increasing these days and they leave those affected highly vulnerable to identity theft. That’s why it’s so important for consumers to be extra vigilant and to take measures to protect themselves.

Steps to protect yourself against ID fraud:

• Keep an eye on your finances and look out for unusual activity.
• Review your passwords – don’t use the same password for more than one account.
• Never give your personal or account details to anyone who phones you unexpectedly.
• Don’t reveal your PIN or passwords to anyone.
• Keep an eye on your credit file to ensure no accounts or loans have been fraudulently set up in your name.
• Be wary of emails that begin “Dear customer”, rather than using your name.
• If you think you have been a victim, tell your bank or building society immediately.

Contact

Mudassar Iqbal

07870584425

www.progages.co.uk

Arranging a mortgage can be a very stressful experience if you try to do it yourself. You can end up spending a lot of time on it and may not get anything like the best deal. We are experts in this field and pride ourselves on the huge number of recommendations we receive. Contact us and we will use our powerful computer databases and expert knowledge to search the vast range of mortgages and identify a suitable scheme for you.We cover all North west area including Accrington, Blackburn, Preston, Burnley, Nelson, Bolton.

Below are some of the questions you are faced with:

• Fixed rate, discounted rate, capped rate or cashback?
• Capital repayment or interest only?
• How is the interest calculated?
• Are there any early repayment charges?
• What possible fees are involved?
• Are there any deals where the fees are paid by the lender?
• How much can I borrow?
• Am I able to obtain a self-certification mortgage?
• I am self-employed and only have accounts for 12 months, can I get a mortgage?
• Can I make overpayments, underpayments or have a payment holiday?
• Can I offset the balance in my current account against the balance on my mortgage?
• What is mortgage protection?
• Do I need mortgage protection and how much does it cost?
• I have a mortgage at the moment, but would like to remortgage. Is it worth it on the basis that I may suffer from a redemption penalty with my existing lender? (a redemption penalty ia a penalty charged by the lender for redeeming the mortgage early)
• Am I able to consolidate existing debt through remortgaging?
• Am I able to change lenders and have lower payments as I have no early repayment charges with my existing lender?
• I have an endowment, but am concerned about a possible shortfall. What should I do?
• I have a bad credit history. Is this a problem?
• I have changed jobs three times in the last year, can I get a mortgage?

As I am sure you can appreciate, it can be a minefield. The one way around it is to consult a mortgage adviser at Progages Financial Services to arrange a mortage for you Contact us now.

• All loans subject to status and availability.

Adding existing debts to your mortgage extend the repayment term and increase the overall cost of the debt.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Contact

Mudassar Iqbal

07870584425

www.progages.co.uk

Arranging a mortgage can be a very stressful experience if you try to do it yourself. You can end up spending a lot of time on it and may not get anything like the best deal. We are experts in this field and pride ourselves on the huge number of recommendations we receive. Contact us and we will use our powerful computer databases and expert knowledge to search the vast range of mortgages and identify a suitable scheme for you.Below are some of the questions you are faced with: Fixed rate, discounted rate, capped rate or cashback? Capital repayment or interest only? How is the interest calculated? Are there any early repayment charges? What possible fees are involved? Are there any deals where the fees are paid by the lender? How much can I borrow? Am I able to obtain a self-certification mortgage? I am self-employed and only have accounts for 12 months, can I get a mortgage? Can I make overpayments, underpayments or have a payment holiday? Can I offset the balance in my current account against the balance on my mortgage? What is mortgage protection? Do I need mortgage protection and how much does it cost? I have a mortgage at the moment, but would like to remortgage. Is it worth it on the basis that I may suffer from a redemption penalty with my existing lender? (a redemption penalty ia a penalty charged by the lender for redeeming the mortgage early) Am I able to consolidate existing debt through remortgaging? Am I able to change lenders and have lower payments as I have no early repayment charges with my existing lender? I have an endowment, but am concerned about a possible shortfall. What should I do? I have a bad credit history. Is this a problem? I have changed jobs three times in the last year, can I get a mortgage? As I am sure you can appreciate, it can be a minefield. The one way around it is to consult a mortgage adviser at Progages Financial Services to arrange a mortage for you Contact us now. All loans subject to status and availability. Adding existing debts to your mortgage extend the repayment term and increase the overall cost of the debt. Your home may be repossessed if you do not keep up repayments on your mortgage.

© Copyright 2001- 2006 Progages - Your Mortgage  advisor www.progages.co.uk Mudassar Iqbal

Disclaimer: Progages Financial Services has no control or responsibility for the pages you are about to access, or to any subsequent links you may be directed to. Consumer Credit Licence number 585909. FSA Number: 485878

Progages Financial Services is an Appointed Representative of Network Data Limited, which is authorised and regulated by the Financial Services Authority for regulated mortgage and insurance business only. Network Data Limited is entered on the FSA register (http://www.fsa.gov.uk) under reference 300391.

Progages Financial Services, 22 Stonecross Close, Accrington, Lancashire, BB5 0DQ.

Email: consultant@progages.co.uk

Principal: Mudassar Iqbal

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.