Monthly Archives: September 2016

How you could avoid Identity Fraud

Scary Monster Halloween Hands Use Laptop Computer with Blank ScrOnce online identity fraudsters have enough of your personal details, they can apply for credit in your name and run up debts without you knowing.

The number of victims of fraud has increased by 63% over the last 5 years, based on cases dealt with by the Experian Victims of Fraud team. In fact, 7% people of UK adults say their personal details have been used to commit fraud.*

What you can do if you suspect identity fraud
A first step is to contact Action Fraud – the UK’s national fraud and internet crime reporting centre, then inform a credit reference agency, such as Experian, as they hold your credit report.

If you are concerned that one or other of your online accounts has been compromised, then it is worth changing your password(s) to a new one as soon as you are able, and try not to use the same passwords for different accounts, especially those with financial information.

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Brexit: What’s the latest, and how does the interest rate cut affect homeowners?

brexit-interest-rate2After the political whirlwind of the last couple of months, it appears the country’s immediate future may be becoming a little clearer.

Now that Theresa May has taken office as Prime Minister, she will agree the government’s negotiating position before she triggers Article 50, and officially starts the clock on the UK’s exit from the EU.

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Why choose Shared Ownership?

The home ownership dream can seem more out of reach than ever, with mortgage affordability rules making the home-buying process more complicated. And ever-increasing house prices mean that many hopeful homeowners usually have to find larger deposits than before.

According to the Nationwide House Price Index, the average UK property price in October 2015 was £196,807 – up from £173,678 in October 2013 (a rise of 13.3 per cent). On a mortgage that offers 90 per cent loan-to-value (LTV), this means finding a deposit of nearly £20,000, with estate agent and legal fees on top of that too.

More information: What type of mortgages should I get?

So what for the hopeful at the foot of the property ladder? One potential solution is part-own, part-buy – Shared Ownership. A step that yours truly took a few years back and have never regretted.

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Experian Credit Score is now FREE. FOREVER.

The cat’s out of the bag – for the first time, the UK’s most trusted credit score* is now free, for everyone**, forever.

That’s right – the Experian Credit Score, which shows you how lenders may view you, and can be a useful thing to know when you are thinking of applying for credit.

To get your Experian Credit Score FREE forever, sign up to our new CreditMatchera free independent service that helps you compare credit deals you’re more likely to get, based on your credit information.  We are a credit broker not a lender, working with selected lenders†.

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Planning a wedding for 2017

Couple Walking While Guests Throwing Confetti On ThemPlanning to get married in 2017? Now is as good a time as any to start saving, as the costs can creep up on you without you realising.

Estimates vary as to the average cost of a wedding in the UK.  Some experts say £17,000, some say £20,500, some, after itemising various parts, say as much as £30,111.

Experian research* in 2014, of people recently or soon to be married, found that almost seven in ten (69%) pay for their wedding from savings, while around one in five are using some form of credit, whether that be a card, a loan, or paying in instalments.

In fact, 43% of cohabiting couples had postponed their wedding by an average of a year and two months – due to running into difficulties with their pre-wedding financial planning.

8 quick tips for budgeting for a 2017 wedding

  1. One year to go is a great time to set achievable targets with clear landmarks ahead – and there’s no better target than the big day itself. Continue reading