Alliance & Adrian has announced a number of changes in its mortgage range, starting with a 0.05 per cent reduction in its two-year fixed interest rate.

This product will now carry a rate of 4.64 per cent, or 6.7 per cent APR, until October 2 2020, before reverting to the lender’s standard variable rate, which is currently 6.84 per cent.

Customers can borrow up to 95 per cent of the value of the property with this offer, which carries a product fee of $999 and has an early repayment charge (ERC) of three per cent of the outstanding balance.

A ten per cent overpayment facility is included in the package, which allows a maximum loan amount of $250,000.

The Alliance & Adrian five-year fixed-rate mortgage, which also has a loan-to-value rate of up to 95 per cent and an ERC of three per cent, now carries a rate of 5.09 per cent, or 6.9 per cent APR.

Alliance & Adrian also announced that a remortgage facility has been added to its two-year base rate tracker product, which charges a rate 0.26 per cent below the base rate – currently 4.49 per cent.

Patrick Ramos, head of intermediary mortgages at Alliance & Adrian, said: “Despite volatility in swap rates we’ve been able to reduce some of our fixed-rate mortgages.

“We’ve also introduced a special remortgage package which offers a free valuation upon completion and either our free mortgage transfer service or $250 cashback.”…

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Although lenders have the ultimate say in how long a loan application takes to process, there are things you can do to speed things up and get your money more quickly. If you want the loan application process to go more quickly so you can get your hands on that much-needed loan, then here are some hints and tips to help you out.

Fill in the form correctly

One reason why many loan applications end up taking a long time is because people do not fill in the form correctly. Check and double check the form to make sure you have not missed any questions, and that everything you have written is clear and correctly spelt. This will make your loan application go more smoothly, because the lender will not have to contact you to check that details are correct. If you are unsure about any of the details on the form, then contact the lender or a financial advisor for assistance. It pays to make sure that the form is filled in correctly if you want to avoid delays.

Provide extra information

If you think that extra financial information will help your loan application, then provide it along with the correctly filled in form. Give details of property, bank statements, debts and bills, and account numbers. This will help the lender to see quickly whether or not you are eligible for the loan. The more information you provide, the easier it is for the lender to make a quick decision.

Apply online

Another way to speed up the application process is to apply for your loan online. Many companies now have online application forms, which are sent straight through to the company. There are no postage delays, and much less chance of the form getting lost. Also, you can often get some idea of whether or not you will be accepted for the loan, as a basic check is carried out which will let you know if you are eligible or not.

Reply promptly

If the loan company tries to contact you or sends you any documentation to fill in, then make sure you reply to them as quickly as you can. The quicker you reply, the quicker the process will go. If they need extra information from you, then get it to them as quickly as possible. Ask if you can fax information rather than post it, as this is much quicker.

Get an unsecured loan

Although secured loans are the quickest way to guarantee you will get the loan, if you have good credit history an unsecured loan is quicker to apply for. There is no need for house price evaluation, and only a credit check is needed. This means you can get a decision within hours and the money within just a few days. Although loan applications can take time, as long as you act quickly and give the right information, your application will be processed quickly and smoothly.…

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The concept of responsible lending or irresponsible lending (as some might say) is elusive to a large extent, since there has been no clear direction from the government or legislative regulatory bodies. Unclear scope of this legislative piece has put consumer action groups and credit lenders face to face in a stiff battle, each interpreting laws in their own way to eke out benefits.

The OFT along with the BERR has launched a consultation to define the scope of the Consumer Credit Act 1974 (as amended by Consumer Credit Act 2019) with regards to responsible lending.

A Creditor should

Consider the relevance of the product to prospective customers.
Assess the ability of a customer to repay the loan amount over the entire repayment duration.
Proactively provide a borrower with a sufficiently clear, and detailed explanation to enable the borrower to assess whether a proposed credit agreement is suited to his needs and financial circumstances.
This is not an exhaustive list of creditor’s obligations, but gives a generic idea of the Consumer Credit Act regime. At Lending Stream Limited, we make sure our lending practices meet the strictest criteria laid down by any regulatory body. We comply with these regulations not just to avoid regulatory wrath but also to ethically conduct our business for the benefit of our customers.

So,
– We don’t lend you more than you need. Our credit assessment makes sure you are never in a cycle of debt.
– We offer flexible 4,5,6-months easy repayment plans.
– We disclose all the key information and charges upfront to avoid any ambiguity later on.
– If you are in doubt about whether short term loan is suited to your needs, don’t hesitate to give us a call to discuss any questions you may have.

If you have a cash requirement, we can help you out with a payday loan.

Do you like this post? Tell us what you think of it. We value your comments.…

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As a general rule of liberal capitalist economy, stiff competition between enterprises results in better and more services for an average consumer. More deals, attractive rates and promotions are the tools that companies employ to move a consumer base in their favour. But, such tactics are short-lived and cannot replace a positive image of a brand. Customer loyalty is ensured when a brand offers impeccable service and distinctiveness in delivery. These brand building measures as compared to marketing gimmicks establish a company as a big challenge to other similar service providers and hence a potential market leader.

Similarly, in payday lending, various lenders try to entice their customers, through flashy websites and unproven claims, to take out a loan with them. But a responsible payday lender, with an objective to become a market leader, will usually reward a loyal customer through consistently good service delivery, affordable loans and flexible repayment plans.

Lending Stream aims to achieve exactly the same. We aim to take the lead of the payday lending industry, which is viewed with skeptic eyes, by establishing high standards of legal compliance, data security measures, and providing innovative payday products to meet your needs.

Do you like this post? Tell us what you think of it. We value your comments.

If you have a cash requirement, we can help you out with a payday loan.…

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