Category: Short-term Loans

The True Cost of Payday Loans

Posted by admin – January 9, 2012


It’s often asked why payday loans are so expensive; with huge annual interest rates sometimes quoted, implying that rich companies are profiting at their customers’ expense.

When investigating why short term loans cost what they do, it’s worth pointing out that it’s very misleading to talk of APR in relation to these kind of loans, as the loans are made over a much shorter period of time.The annualised interest rate is easily in the triple-digit range, but these astronomical figures really bear little relation to the actual cost of the loan products.

Using the same reasoning, you could quote the price of a taxi at £15,000 per 1,000 miles, or £50,000 for a ton of oysters,…

Turn your kid into an Expert Money Manager

Posted by admin – November 18, 2011


“Sorry, I’m on a budget.” Does this statement often crop up, especially towards the end of the month? You are not alone. Many of us live ‘on-the-edge’ from time to time as the next payday draws close, and inevitably, our shopping habits need to reined in.

 

Parents, Kids & Money:

As the month comes to an end, parents often feel the need to keep their kids away from toy shops. “You already have too many toys,” “Do you know that most kids in Africa don’t have any toys?” “Wait for Santa“, and other excuses may come up. If you are one of those parents, it might be worth considering teaching your kids some essential money management skills.

Why train your kids now?

Research shows that early money management training has…

Be careful, it’s the ‘Accident season’!

Posted by admin – November 16, 2011


In preparation for what we have christened ‘the accident season’, we have invested in brand new technology that makes it the only online loan provider to make funds available 365 days a year, 24 hours a day – even on public and Bank Holidays.

 

Motivated by research that shows that the period between early November and Christmas is one of the ‘riskiest’ of the year for both potential accidents and emergencies that often strike causing huge unexpected expense, the new system means that people who fall victim to cash emergencies know that there is instant help at hand.

 

With the change of season, risks range from icy surfaces that can cause road accidents and pavement falls, as well the associated risks of an increased number of people driving to and from work…

Teens Unrealistic Salary Demands

Posted by admin – May 27, 2011


A recent study of 12,000 teenagers released by Money Sense and RBS show some far out expectations of these teens of just how much they think they will be earning in the future. One average, teenagers believe when they finish their education an expected earning of £16,000 a year will be in their bank accounts.

The study shows also that at 25 years of age they are seeing a yearly income of close to £34,000. And by their 35th birthday, theses teenagers studied are expecting an earning of £60,000 per year. Optimistically the study also shows that over 50% of teenagers feel they will have purchased a home by the ripe old age of 25 followed by 82% who were positive that they will have this done no later than their 30th birthday.

The reality is really devastating…

News for the common man – Interesting facts about the Royal wedding

Posted by admin – April 29, 2011


With the royal wedding just a few hours away nothing has been discussed more – certainly given that no one knows what Kate will be wearing!

An estimated two billion people are expected to watch the royal wedding and to add more gloss to our news cap here are some interesting facts:

  • Catch a glimpse of the bride in the ‘much popular’ Rolls Royce Phanthom VI on her way to Westminster Abbey before the wedding and of the newly married couple in the ‘much hyped’ golden carriage. But if the rain happens to bless the couple they shall be parading in the Royal Glass coach instead of the open-topped horse drawn golden carriage.
  • Tube lines close to the procession route will be closed on the royal wedding day. But other tube services will function

…

Short-term Loans: a simple solution

Posted by admin – April 12, 2011


At Lending Stream, we’re often asked about our proposition, and how that fits into the market.
How are we different, for example? Lending Stream’s sole product is short-term loans, which provide a more manageable and realistic timeframe for repayment than a payday loan, which would typically be payable in a very short (usually less than 30 days) time frame, often unrealistic for both lender and borrower.

We recognise that 30 days is often not long enough for an individual’s financial situation to have been resolved. Our loans are paid back between three and six months, but on average, our customers pay back their loans over a four month period. This puts less pressure on the borrower in terms of paying back their loan, and provides a far more realistic timeframe…

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Crisis Loans with New Regulations from April, 2011

Posted by admin – March 31, 2011


Crisis loans are one of the most popular interest free loans offered by the government, colloquially known as “friend-in-need” loans. While the government’s crisis loans have been helping millions of Brits for many years till date, regulatory procedures are about to change, as the government is currently facing budget deficits.
The Department for Work and Pensions has informed us of new regulations for Crisis loans which will come into effect from the month of April, 2011.

Crisis loans are meant to aid those of low income who need emergency cash to meet essentials in their day-to-day life. Though crisis loans have been helpful to many in getting their emergency needs fulfilled, ranging from buying cookers to bedding, some of these benefits will no longer be available in the future.

The…

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Ideas to tackle the upcoming Car Insurance hike

Posted by admin – February 17, 2011


It’s hike time everywhere. February being the official “season of change,” there is a lot to keep our fingers crossed for. While some hikes like appraisals and promotions sound like spring, price hikes for goods and services doesn’t sound so much like it.

Car insurance is one such hike on the prowl and March 1st is the official day when the European court will judge on the policies followed by the insurance companies which charge men and women differently. If the judgement favours unbiased approach for both men and women, price hikes would favour men but not so much for women, as they might have to pay more than what they pay now.

The new system called Continuous Insurance Enforcement obliges everyone to have their cars insured even if their vehicle…

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