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Peer to Peer lending is the new and innovative financial process whereby consumers are able to borrow money without having to go to a regular financial institution or bank. In essence P2P lets you get rid of the institution as middle-man and borrow from people who wish to lend money. It is available from a number of popular and trustworthy websites and the owners of the site will act as brokers by connecting you with lenders suitable to your loan needs or borrowers suitable to your loans.

The advantage of P2P is that it lets consumers get hold of loans at an equivalent or sometimes better rate than they could get at their bank. Additionally it provides another place to turn when banks may have said no to a loan or if you do not want to use financial institutions for an ethical reason. So if you are in the market for a loan for a new business (with little credit rating) or debt consolidation or any other project then peer to peer lending is another place to look.

There are of course some risks for the lender. They will never meet or get to know the borrower and they will not be able to conduct as thorough a review of the lender’s finances as a bank might do. However, should they wish to bring down the risk lenders cam make smaller micro loans to various users of p2p sites and still get a good return on their investment from these borrowers. The sites have a number of options for lenders, including lending solely to one borrower or contributing to their loan as one of a number of lenders.

There are hundreds of P2P sites now out there, with the most famous including Prosper.com and LendingClub.com – all of them will broker the deal and will provide the proper legal contracts for the loan for both the lender and the borrower. These loans will nearly always be unsecured although some of the sites do have an option for securing the loans with borrower’s assets.

The site works with you applying for a loan and stating the interest rate you are able and willing to pay each month. You also fill in details about yourself and your reasons for the loan that the lender can read. Once they have approved your loan the p2p website finalizes terms and then payments are made through the website from borrower to lender.

Alex is a financial writer and blogger. He writes about everything from credit cards to mortgages to tax reduction.

• Money transfers, with the assistance of modern technology, enable us to send money oversea with the advent of money transfers being so accessible.
• Transferring money this way is easy and is also safe and secure.
• Having a flexible money solution if you travel frequently for business or pleasure is also necessary.
• All funds can be transferred online, from anywhere in the world.
• Perhaps you think this is going to cost a fortune, but charges are minimal especially if you utilize the services of an efficient Forex company that will step in and assist.
• Transferring monies through banks is costly and cumbersome, leaving you wondering why you did not think of doing your money exchange this way a long time ago.
• To be on top of your game and to know where you stand by knowing the daily rate of exchange is particularly pertinent if you import and export goods.
• Transfer fees are not charged through your Forex agent, where you would find professionalism and the kind of service you need and deserve.
• You will now be in a position to be in full control of your money at all times.

For more on money transfers and Forex, contact us today for more pointers so that you will be able to send money to and from any destination at a fraction of the cost; you will be surprised at how easy, cost-effective and user-friendly sending money to and from overseas can be.

Over recent years the property market has gone through some very turbulent times, with the house price bubble that had been growing and growing for a decade finally bursting with the onset of the global credit crunch several years ago. On top of this, the banking industry was brought to its knees with, amongst other things, a shed load of toxic debt that resulted in some banks having to be bailed out by taxpayers in order to remain functional.

Continue reading ‘Is it a good time for buy to let again?’ »

If you require personal assistance online, African Bank will offer you this option if you are not sure how to fill out an application form for a personal loan. This way you will be able to get answers to any questions you might have right away.

Large savings, good rates and comparisons will be on offer when you apply for a loan from African Bank.

You are not restricted to what you would like to do with your personal loan.You could use the loan to settle debts,or you can use it for educational purposes or simply to refinance your bond as well as many other holes you might need to fill.

Offering you financial freedom whether for a little amount or a large amount, a personal loan from African Bank will assist.

The first step in obtaining your personal loan is by having a healthy credit history, which you can easily get online. Compare your credit scores online from the three major credit bureaus to see what your credit scores look like.

This way you will be able to see exactly what your lenders see on your credit report.

You will be able to borrow up to R1800 000 depending on what your credit report says, and the amount can be repaid quite easily through a debit order that will come off your bank account every month; alternatively the money will be deducted directly from your salary.

Interest rates are calculated depending on the size of the loan and also what your credit profile looks like, and a once-off fee is payable based on the size of the loan.

You have come to the right place if you are looking for a personal loan from African Bank!

Personal Loans From Absa

Should something unexpected occur, it is nice to know that you can rely on a banking institution that will step in and save the day. Dealing with the unknown and unexpected is always a little disconcerting, making the challenges in life a little easier if you know how to deal with these.
For fast finance contact ABSA for a personal loan which is not only fuss-free but has a simple application process which can easily be filled out online.
If you prefer, the application process can be done at one of the numerous branches throughout South Africa.
An Absa personal loan will give you immediate access to the full amount but remember negotiating is also a smart move where you will be able to put a repayment process in place that will fit into your individual requirements and budget.
Taking pride in a flexible loan option, Absa will be able to lend anything from R3 000 to R150 000 with a repayment period ranging from 12 to 84 months.
To find out if you are eligible for an Absa personal loan or any other credit, find out what your credit rating or credit score is by making comparisons from the three major credit bureaus, and ensure that you have a healthy credit history prior to applying for your Absa loan.
There are certain criteria that you have to have when applying; you should be a South African citizen, you have to be eighteen years and older, you have to have a South African Identity Document and you have to earn R2000 and more a month.
A bank account where you salary is deposited into every month is required and also proof of residency.
You have come to the right place if you are looking for a personal loan from Absa.

With the recent global economic recession putting millions of people out of work it is no wonder a growing number of families are stuck with large debts. Then again, we can’t always blame the recession for high credit card bills, bank loan payments and store cards. Most of us get heavily into debt because of poor money management and/or extraneous spending. The only way to get back out of debt is by following some common sense steps:

Continue reading ‘Common Sense Steps to Get Yourself Out of Debt’ »

An extended warranty for cars pertains to the service contract between the auto warranty provider and the vehicle owner. Since all brand new cars usually come with a warranty to cover repairs for a set period of time and for a set number of miles, once the time frame runs out, vehicle owners will need to purchase extended warranties. What you need to know is that this warranty doesn’t go hand-in-hand with the extension of the terms as well as the coverage mentioned in the warranty of the original car manufacturer. This is because it is already a new contract set by a third-party provider. So why should you think twice before going ahead and signing up for one?

Continue reading ‘Extended Warranties for Cars – Are they Worth it?’ »

Insurance comprises a very large portion of any modern financial market, and insurance fraud is one of the biggest scams that people try to perpetrate on a daily basis.  To put it simply, insurance fraud is any act that is committed with the intent of obtaining money from an insurance company fraudulently.  There are many different types of scams and frauds that take place, and insurance companies have many ways of determining who is committing fraud and taking actions to stop the fraud.

The single most common type of insurance fraud is false claims.  A false claim is when somebody files a claim when nothing has actually occurred, or the damage was fraudulently committed.  Auto insurance has the highest rate of false claims because they are relatively easy to commit.  For example, somebody may damage their own vehicle by hitting a tree, and then claiming they accidentally drove off the road.  The aim of this is to get a payout from the insurance company and then never fix the car.  Another example of insurance fraud would be taking a life insurance policy out on somebody and then setting up a plot to kill the person or otherwise eliminate them.

Insurance fraud is always caused by one motive: financial gain.  There are a variety of methods that scammers use to try to beat the system.  The most common method is inflating the loss that someone has incurred when an actual accident has happened.  Losses due to insurance fraud account for billions of dollars in losses each year.  In the United States alone, over $80 billion dollars is lost each year due to insurance fraud.  There are many laws that can convict people from insurance fraud and there are thousands of civil suits filed each year in relation to insurance fraud.

BENEFITS FROM CAR INSURANCE QUOTES

Whether you own a big luxurious car or a simple one, it is always very important to get your car insured in order to attain maximum security in case something dreadful happens, like an accident or a car crash.

However, getting your car insured isn’t that easy, since car insurances are pretty expensive these days. This is the reason why everyone looks for ways to pay fewer insurance premiums monthly or annually. Thus, to provide everyone with the possibility to protect their cars, insurance companies offer car insurance quotes. These quotes help the policy holders to choose and take decisions based on their budget, needs and requirements.

Car insurance quotes give best deals to the new vehicle buyers. These quotes offer outstanding rates to suit everyone’s finances. The car insurance quotes cover for the damages caused to the car or its parts due to natural or artificial calamities. It also covers for the harm caused to the car driver and the third party involved.

With the help of the car insurance quotes, I also have received some benefits that are as follows:

Discounts:

The most important benefit I got from the car insurance quotes is the discounts on my premiums. It saved me a lot of money. With the help of these quotes, I have found an affordable and reasonable insurance for my car.

Line of association:

Line of association helped me to simply compare and choose from the various quotes offered by different car insurance companies. Moreover, I also got the chance to easily take decisions according to my own budgets and needs.

Saves Time:

It also saved my time, since one can easily find car insurance quotes online as well.  You do not need to go and survey every single supplier to get the best quotes.

Nowadays, car insurance is extremely important for every individual, who owns a car. However, it is very expensive at the same time, making it impossible for everyone to afford it. Therefore, the car insurance quotes are available to help out individuals to choose and take decisions according to their own financial statements and requirements.