Main Website Links

Life Insurance Have your taken your last gasp?

No we're not insensitive - we're talking about your last gasp of smoke -

Home Mortgage Loans: More people are paying off their mortgages early. How do they do it? This article explains some ways.
Mortgages. First time buyers let down by the governments Homebuy scheme.: At this stage, the Governments Homebuy mortgage scheme for firsttime buyers seems a waste of time. This article explains why.
Mortgages. Higher Lending Charges are outrageous.: Higher Lending Charges are often charged if your mortgage is 90% or more of your property's value. We think the charge is a form of profiteering by the lenders and should be abolished. This article explains why.
Mortgages and Loans. Islamic finance avoids interest.: Muslims are forbidden by the teachings of the Koran to pay interest. This means that conventional mortgages and loans cannot be used. This article explains the alternatives available for Muslims and defines some of the words used in Islamic finance.
Mortgages. The return of the Mega-Mortgage.: All of a sudden, mortgage lenders love mortgages over £500,000. Great if you can afford them.
Mortgaging for funds: A new study has found that pensioners are concerned that they will have to sell their homes or take in lodgers to make ends meet.

have you given up smoking?

Smokers pay up to 60% more for their life insurance cover compared to non-smokers. So, besides the health dividend, life insurance companies will chip in with lower premiums. And the saving isn't to be sneezed at! It could typically amount to £10 or more per month.

Most insurance companies say you're entitled to non-smoker premium rates if you've not smoked or otherwise used nicotine products, within the last five years. If you've only just given up smoking you'll have to wait for the extra spending money.

But sometimes there's a way of speeding things up. Some insurers have adopted a more relaxed definition of a non-smoker by shortening the 5 year abstinence period to just twelve months. So if you've been fag free for a year, find out whether you can move your life cover to one of these insurers. But you have to be careful. Never cancel your existing policy until you've received written acceptance from your new insurer.

How do you swap insurers?

First of all, to get the best price, you need to go on the Internet and find a life insurance broker that provides help, discounts price and searches the whole insurance market for the lowest prices. If you use a web site that provides an on-screen quote, you won't know whether that insurance company that comes up uses the 5 year or the 12 month smoker definition. Online systems never tell you. To be sure you need to chat on the phone to a life insurance adviser.

Click here for page 2

Did you Know?
The concept of medical insurance was proposed in 1694 by Hugh Chamberlen. In the late 19th century, early medical insurance was actually disability insurance, in the sense that it only covered the cost of emergency care for injuries that could lead to disability. This insurance model continued until the early 20th century when patients were expected to pay all other health care costs out of their own pocket under what is known as the fee-for-service business model. Modern medical insurance programs emerged mostly after the 2 nd World War.

Today in the UK, most comprehensive private medical insurance programs cover the cost of routine and planned health care procedures, although emergency care is still largely the province of the National Health Service.

Did you know?
If you can't get home insurance , beware – the Royal Institution of Chartered Surveyors warns that value of your house could fall by 80%. And it's a high flood risk that is most likely to make your house uninsurable. According to a recent report, 6.5 million homes are already at risk from flooding and 1.5 million homes are in areas at high risk. Furthermore, if global warming continues, by 2030 this 1.5 million figure could double.

Did you Know?
When looking for a cheap mortgage you're sure to face the decision between choosing a low interest rate mortgage or a higher rate mortgage but with no, or very low, up front costs.

We've all seen mortgages with incredibly low interest rates advertised in the national press and on the Internet. Experience shows that it's a low interest rate that pulls in the borrowers so lenders bust a gut to publicise low headline rates. The difficulty is that these super low rates force the lenders to recover some of their profits in other ways. A high arrangement fee is a common solution.

An arrangement fee is charged to allegedly cover the cost of administering the mortgage application and reserving the advance. Normally these fees can be added to the mortgage but some lenders require them to be paid in advance. And they can vary enormously, not just between lenders but even between the cheap mortgages offered by the same lender. So keep your eyes skinned!

Did you know?
Over recent years, the cost of moving house has risen at more than twice the rate of house price inflation. The main offender has been stamp duty.

Today, a move from the average semi worth £174,750 to an average detached house costing £293,250, will cost some £12,500. Five years ago the same move would have cost just £4,500. These costs include Land Registry costs, local authority searches, estate agents, solicitor's fees, and of course, stamp duty. This means that house moving costs have increased by 176% whilst house prices have themselves risen by 70%.

This increase in home move costs has been greatly influenced by the fact that the average price for a detached house has now burst through the £250,000 level above which stamp duty jumps from 1% to 3%.

For some homeowners, these costs have influenced a decision to stay put and remortgage. That's one of the reasons why remortgages have become so popular.