Cash, Cars and Babes

They are on the rise. As consumers are finding it more and more difficult to make ends meet, particularly at the end of the month, the popularity of payday loans is rising fast. The volume of payday loans taken out has risen by more than 130% in 10 months according to the Times.

The aim of the loan is to provide a stop gap until the consumers pay cheque arrives, but, because they are appealing for this reason, the providers can slap on massive levels of interest. The loan is usually repaid within a few days, but this is still long enough to accrue a lot of interest.

For example, PayDayUK charges £25 for every £100 borrowed, so if a person borrowed £500, they would have to repay £625. To be eligible, applicants must earn over £750 a month.

The typical APR is 1,355%!! Ouch!

Potential house buyers are staying in rented accomodation for longer, despite the increase in monthly rent.

Paragon said that some rents have risen by a third and have also claimed that long term renting will bemore  favourable. It's believed that the reason for this is the lack of mortgages available for first time buyers and also  the lack of confidence in the current housing market.

Rents are rising as prices are falling, where rental incomes have risen 3.8% between January and April and average property values have fallen more than £1,000 in one month. Since April 2007, the average rental income increased by 13.8%.

The falling house prices could make it easier for first time buyers to buy a property, but because they are paying more for their rent, savings are sparse, which could still prove difficult for them to save a sufficient amount for a deposit.

Leading insurance providers are now deeming the offence as serious as unsafe driving and could incur an extra 30% onto your normal premium. Companies such as Zurich, Alliance and Leicester and Churchill now ask drivers about whether they have a conviction for using their mobile phone, and consider this when calculating the insurance they offer.

The £30 fine for using your phone was boosted up to £60 in April, and since this increase, insurance providers have joined in on tackling the problem. Drivers also now receive 3 points on their licence.

The average premium is £682 a year, which means that motorists could be faced with up to £204 extra added on.

It's been illegal to use your phone while driving since December 2003; the number of drivers being caught is still on the rise. Almost 500 were fined every day in 2006. The government think that up to 300,000 drivers still use hand-held phones whilst driving. Hands-free are still acceptable, although they are also being argued to be distracting.

The popularity of the Wii cannot be any better. The Wii Fit has been sold out of most, if not all, shops and online stores for ages and are currently selling on EBay for double the price. But it's no surprise people are after one. With wireless peripherals, it can provide an alternative to healthy exercise, and, in the long run, save a bundle on gym fees. The Wii Fit comes with a balance board, and a variety of different exercises and sports to have a go at. It measures your weight, your BMI and your progress, and you come away feeling exercised and refreshed. But, is the Wii even more reason to ensure you are insured in your home?

A study, by Sheila's Wheels, found that this indoor equipment can lead to accidental damage and personal injury. Below are some of their findings:

• 18% suffered some sort of accident when exercising indoors over the last year
  • 30% bumped into furniture
  • 19% pulled a muscle
  • 18% tripped over a pet
  • 13% banged their head
• 8% broke items, mostly vases
• 2% damaged their televisions

86% of the respondents either already own a Wii or are planning to. Just make sure your home insurance is up to date. And before you mock, it's not just women who cause accidents because of playing on the Wii. Males have them too. And break things because of them.

A new study has revealed that a staggering 5 million accidents happen at home each year. The research, by Tesco Personal Finance, found that Londoners are the most likely to have an accident.

Young children caused £136 million of damage each year.

Drinking excessively caused £95 million of damage.

Pets were the cause of £87 million.

One in ten accidents are caused by DIY mishaps, which cost £149 million to fix. The most common slip ups were damages to carpets, curtains and furniture, through accidental spills or suchlike.

The study also found that an alarming 29% of all Brits are without accidental damage cover, some have no home insurance at all.

Think it's definately worth covering your home and all that's in it!

Amidst the latest fuel strike, some petrol station owners have been greedy - one inparticular, in Exeter, thought it was wise to charge just under £2 a litre at his garage. The owner boosted the price of petrol and diesel to £1.99 a litre yesterday, but insists he isn't profiteering. Hmmm...

He claimed the decision to increase the price of his fuel was only temporary - a meer measure to deter motorists from panic buying. The average price of a litre of fuel is £1.18 for petrol and £1.30 for diesel, according to the AA. But, despite the owners suggestions, his actions have been deemed irresponsible by a price watchdog, suggesting that higher prices add to the panic.

OK, so the festival season has arrived, and if, like me, you are planning to go to one (or several), there's a couple of things that you definately need. One of these, a tent, is something that I have allowed to slip by me. We have a tent. A good tent. However, it has been sitting in the airing cupboard for the past 5 months after going camping up North in a terrential downpour. It's not been aired. It's not been cleaned. It's been festering. I dread to think what it smells like. I'm hoping I'm wrong, and that the tent is fine when I venture in to get it later, but if not, a new one is required, before tomorrow. So where can you get a last minute cheap, but decent, tent?

I've found a couple of good ones at Tesco and Argos, which cost around £20-25 for a 2/3 man dome tent. That's not too bad really. In the past I have had tents from Tesco, and even though I've only spent a few quid on them, it's been just as good as these spangly expensive ones you see pitched. So, I'm hoping they will come up trumps again if I need them.

The current housing market is believed to boost the number of secured loans taken out. Financial experts believe these loans will be for home improvements. Halifax has reported that up to 28% of homeowners are planning improvements over the next 12 months, whether it is a bit of DIY or a complete renovation. Many are choosing to go down the homeowner loan route, which is easier to do since you can search online for them.

It’s believed that rather than people choosing to move, they are deciding to stay put and do up their existing home. It seems to make sense considering the uncertainty of the current market.

If you want to do up your home, or need a secured loan for any other reason, search online today.

Free Legal Advice has had to be denied to homeowners who are being threatened by repossession, because the lawyers are so swamped. Transact are blaming the credit crisis for the massive number of cases. And if people don't receive the legal advice they are after, it is more likely for them to lose their home. The charity are calling for more help for people who are in court facing the loss of their homes.

In the first quarter of 2008, the number of orders made in England and Wales, at an early stage in the process, increased by 17%. There were 27,530 orders made in comparison to 23,438 made in the same period of 2007. It has been estimated that in 85% of cases, if people have legal representation, they avoid immediate repossession. Homeowners who cant afford proper legal help are more susceptible to repossession.

It seems all the major network providers are continuing to compete with each other, this time with offers of unlimited texts. Orange have new packages available, for exiting and new customers to their service.

All named after animals, the packages vary. The new Pay As You Go packages are:

• Canary - free evening and weekend calls up to 240 minutes each month (top up £30 a month to get this offer. Top up £10 to get 120 minutes and £20 to get 180 minutes)
  
• Dolphin - unlimited texts to any network and free mobile access to Facebook & Myspace (top up £30 a month to get unlimited texts. £10 gets you 300 free texts; £20 gets you 600 free texts)
• Racoon - 15p calls to any network, anyimte plus 10p texts any network, anytime
• Camel - Calls abroad from 5p to over 50 countries. 20p calls and 10p texts to any network in the UK at any time.
  

These animal packages broaden the range available, being added to the Pay Monthly animal packages that already exist: Dolphin, Racoon, Panther & Canary.

The insurance company, Aviva, has said they are to close 15 out of 22 call centres in the UK by 2010. Thats 1,800 jobs.

The company said the cuts were rational, but Unite have said it's brutal.

Earlier this year, the company said it was leaving the 200-year old Norwich Union brand behind, to create a single identity to compete in international markets.

Just to let those of you who don't wander into the high street often (including me...), the summer sales have arrived, with many a store offering great discounts on their stock. Check out Argos, HMV, TopShop/TopMan and Boots just for starters.

Get your holiday gear in check!

The Mortgage Crisis. The Fall in House Prices. Can this fall be an advantage to the First Time Buyer? The fall in prices may mean that thousands of young working households can buy a home this year. Hometrack say a 10% fall in proces will allow a fifth of buyers currently priced out of the market can afford to buy a 2 or 3 bedroomed home. The report says 28% of young people in the UK are unable to buy even the cheapest of local properties, London and the South West being the most problematic. The most affordable part of the country is North East England, where only 17% are priced out of the market.

However, the current mortgage situation could still prove to be an obstacle; saving a huge deposit is crucial.

Is it still worth renting instead of trying for a mortgage? In 2006, the average rent was two-thirds the cost of buying a 2 or 3 bedroomed house with a 100% mortgage. In 2007, this ratio was 68%. It may still be worth renting until the crunch eases.

When someone wants a loan, the company they decide to approach normally, if not always, wants to know what that money is going to be used for, whether its home improvements, a new car, or a wedding. Those sort of replies are expected, but research conducted recently found that 43% of loan companies were approached to lend money to consumers who need it for plastic surgery, of all things.

One of the lenders also provide the option to apply for a loan for livestock purchase. Others offer their services to people who fancy a new boat, a nice holiday or a caravan to go on that holiday with.

It just goes to show, people apply for secured loans for any purpose, not just the biggies like home improvement or your big day. Whatever the reason for a loan, you could probably search online, and get it from somewhere.