Secured Loans and selling Property

southernscouser

I'm not saying don't take a loan because they can be the best option. It's just very rare that they are in my experience!

The benefits of the credit cards is potentially you can get lower interest rates than any loan. The payments are variable. You can pay the minimum if needed (although not advised) if you ever needed to. With a loan you have to make the payment. The interest is front loaded so should you be in a position to pay it off early it will end up costing you a lot more. Also there are penalties for paying them off early and you might not be able to overpay like you can a CC!

If you want to PM me any figures I'll happily look at them for you hun. I know some people don't like it all over the boards.

LouBlue

southernscouser wrote: »

If you want to PM me any figures I'll happily look at them for you hun. I know some people don't like it all over the boards.

Thanks hun. I will dig them out tomorrow, with the interest rates.

Sorry I criticised your ear for a tune earlier.

I just always end up paying the minimum on CCs. Whereas the loan, I have no choice, so I prefer them. Know that sounds stupid.

Savvy_Sue

And I presume, Lou, that you've done all you can to reduce your expenditure even though there's now more money coming in? That would give you more spare cash to throw at the credit cards.

But you're right, nothing's ever simple ...

LouBlue

Savvy_Sue wrote: »

And I presume, Lou, that you've done all you can to reduce your expenditure even though there's now more money coming in? That would give you more spare cash to throw at the credit cards.

But you're right, nothing's ever simple ...

Yes we are doing. I am constantly looking on these Boards for ideas and have implemented a lot of them. I had a lot of debt when I met OH and he had a fair bit as well and we are trying to do something about it. Selling the flat is the only option, I have been here 9 years so it has gone up a lot in value, so thank goodness I have that option. But its whether to continue paying the cards or get a loan for them all, that is the question. Need to have a think about that.

harryhound

harryhound wrote: »

How much can a potential buyer find out about you, using their laptop, before they even ring your front door bell?

It might well be worth spending 3GBP to check your own title before you put your place on the market.

http://forums.moneysavingexpert.com/showthread.html?p=6395212#post6395212

"Thanks. How do I apply for that then?"

You expect me to remember ? It was 6 months ago that I persuaded littlehound (DD) to back off such a silly purchase, because there was a credit crunch problem coming. [AFAIK the place is still not sold at any price]

The Land Registry was set up over 100 years ago to make buying a piece of land as simple as buying a horse, unfortunately slick lawyers, not to mention mortgage companies and civil servants have had a good go at making the whole thing complicated again BUT the basic idea is still simple.

Let us do it together:

1. Paste
"Land Registry” site:www.moneysavingexpert.com
into google.

2. I've got a choice of two free google hits. (ie not the paid for ones at the top and down the right hand side).
The first one looks like the most useful. Click on that.

3. Have you arrived here?
http://www.moneysavingexpert.com/mortgages/free-house-prices#how

4. Now choose (say) Houseprices.

5. Have you arrived at a web site that asks you for a post code?
(It asks for information, but all you need to tell it is your post code, for now.)

6. If you bought your flat recently, you should be able to see your price paid.

7. By now you should know how much is being paid for neighbouring properties.

8. Back to google and paste in this:
"Land Registry” site:forums.moneysavingexpert.com
9. Oh blimey every man, woman and dog has been asking questions about the Land Registry.

10. Go down to the bottom of the first page of google results and click
[SIZE=-1]Search within results

11. Put "register entries" (including the inverted commas / quote marks ) into google.

12. Well that is handy, you should have found one of my postings on a thread from someone like you

13. The other posting you have found talks about leasehold - flats are more complicated and expensive than terraced houses because you almost certainly don't own the land.
(If you own a "flying freehold" God might need to help out in the present market conditions).

I think this is about as far as I can take you, the rest is self education and searching the forum.

Good luck,

Harry.

PS To check on line you will need a credit card (which might bounce) or a debit card to pay the money.
If you go to your local office in person, you will get some free advice (woops not quite the right word civil servants in the UK are meant to tell you to ask your solicitor - but smile nicely) and you may be able to get a free printout as it is your personal property.
[/SIZE]

AMILLIONDOLLARS

I think if you have secured loans on your property, the charge is noted at land registry, so before the transfer to the new owner can take place, you have to pay off the loans first. Your solicitor will confirm this.