Any homeowner in England and Wales is probably keeping a close eye on what is happening with property prices, as according to industry officials house prices have been tumbling now for around ten consecutive months. According to a recent report released by the Nationwide Building Society house prices fell a further 1.9% in July compared to August, and officials state that this has brought the annual fall into double digits for the first time since 1990. (more…)
Archive for the ‘New Articles’ Category
House prices continue to plummet
Monday, September 8th, 2008
Freeze on Mortgages Expected to Continue Until 2010
Thursday, September 4th, 2008Those looking to take out a mortgage in the UK are currently facing difficulties because of the freeze on approving mortgage that many of the lenders have in place. According to the Crosby Report, this freeze is expected to last for another two years. Sir James Crosby, the former chairman of HBOS, has informed government that new homeowners and those looking to refinance will still find it difficult to obtain mortgages as long as the credit crunch continues to plague the UK. The credit crunch has led to falling house prices and only those with excellent credit and income will qualify for new loans. (more…)
Higher arrangement fees in place for mortgage borrowers
Thursday, August 28th, 2008At a time when the financial climate is already extremely difficult, and many consumers are struggling financially, lenders have hikes up the arrangement fees on their mortgage by an astonishing level in some cases, leaving those that are looking to take out a mortgage or remortgage really struggling to cope with affordability. Recent reports show that some borrowers could now be facing mortgage arrangement fees of thousands of pounds. (more…)
Using a broker for your borrowing
Monday, August 25th, 2008There are times when most of us need to take out some form of loan, whether it is a personal loan to make a major purchase, a consolidation loan to wrap up all of our existing debts, or even a mortgage loan to purchase a home. Finding the right loan has always been a time consuming and frustrating task, with so many lenders and different loans to choose from. However, since last summer the whole process has become even more difficult and this is because of extremely tight credit conditions and tighter eligibility criteria from lenders. (more…)
Why you should beware of doorstep lenders
Saturday, August 16th, 2008With the global credit crunch still in full force in the UK there is no doubt that many consumers are finding it increasingly difficult to get their hands on affordable finance, and in some cases any sort of finance at all. Lenders have really tightened up on their lending criteria, and the tighter credit conditions in place mean that many people, particularly those with low incomes or bad credit, could find it impossible to get finance from a mainstream lender. (more…)
Sale and rent back schemes to be investigated by OFT
Tuesday, August 5th, 2008Defaults of mortgage repayments have been rocketing over recent months, with many families facing severe financial hardship. With rising energy bills, soaring petrol prices, increased food prices, high borrowing costs, tighter credit conditions, and below inflation wage rises, many families cannot make ends meet each month, and for many this is resulting in missed mortgage repayments. Of course, this could eventually end in repossession, and many families have become desperate to find a way to keep the roof over their heads. (more…)
Getting a financial adviser to help you find a mortgage
Friday, July 18th, 2008Finding a suitable and affordable mortgage can be difficult at the best of times, but in the current financial climate many people are finding it more difficult than ever to get a mortgage that suits that needs and is affordable. For many people trying to go it alone when it comes to finding a mortgage is a difficult if not impossible task, and this is why more and more people have turned to mortgage intermediaries in order to get help with finding a mortgage. (more…)
Making the most of a consolidation loan
Monday, June 30th, 2008Over recent years an increasing number of people have taken advantage of consolidation loans, which are loans that are designed to pay off existing debts, and are available on either a secured or an unsecured basis. Taking out a consolidation loan can make a big difference when it comes to financial management as well as when it comes to how much you pay out each month, although you do need to ensure that you use these loans effectively so that you do not end up back at square one, or worse still end up getting into more debt than before. (more…)
Should you take a secured loan or an unsecured loan?
Monday, June 30th, 2008Consumers these days can choose from a range of different loan options to suit their needs and circumstances, and all loans come under one of two categories, which is either secured or unsecured. The type of loan that is likely to best meet your needs will depend on your circumstances, as there is clear eligibility criteria in place when it comes to these different loan types. (more…)
Are you entitled to a mortgage holiday?
Friday, June 6th, 2008Over recent months many homeowners have struggled with their mortgage repayments, and whilst some people are struggling with repayments every month, indicating that they need to find a long term solution such as cutting back on other costs or finding a more affordable mortgage deal, others find that they are finding it impossible to meet the mortgage repayment for the odd month or two. Many of those that suffer difficulties with their mortgage repayments on occasion rather than continuously turn to other forms of credit to make the repayment such as an expensive credit card – or in some cases simply allow their account to fall into arrears. (more…)
Is another house price crash on the cards?
Tuesday, June 3rd, 2008There are many people that may still remember the dark days of the early 1990s, when the aftermath of recession coupled with plummeting house prices resulted in a very poor outlook for most. Many people were plunged into negative equity as house prices plummeted. However, for the past ten years staring from the latter part of the 1990s the housing market has seen property prices rocket, with homeowners finding themselves sitting on a tidy sum of equity. (more…)
Mortgage markets could be slow to recover
Sunday, June 1st, 2008The mortgage industry has faced some of its toughest times ever over recent months, with the global credit crunch having a profound adverse effect on the mortgage and finance industries in the UK since it swept across the nation last summer. Nine months on and the mortgage lending industry is still suffering hugely, with lenders finding it increasingly difficult and expensive to secure the finance that they need to fund their mortgage lending operations. (more…)
Repossession levels have continued to rise
Saturday, May 31st, 2008A recent report has shown that the number of people in the UK who are at risk of losing their homes through repossession has rocketed by nearly 20% in the past year. Homeowners have been hit with a variety of rising costs over recent months, which have seriously affected the ability of many homeowners to keep up with their mortgage repayments. Many homeowners began struggling nearly two years ago, when interest rates started to rise thick and fast, taking the base rate from 4.5% to 5.75% in under one year. (more…)
The struggle gets tougher for first time buyers
Thursday, May 29th, 2008Over recent months there has been a great deal of speculation over house prices in the UK, with the general consensus being that house prices are set to fall by as much as 20% over the next year or two. With house prices having soared by 200% over the past decade, this may seem like a drop in the ocean – particularly considering that the average income has only gone up by around 53% in the same period. However, it is the news that many first time buyers have been waiting for, as for many falling house prices meant that they could finally look at getting their foot onto the first rung of the property ladder. (more…)
Protecting your personal data
Tuesday, May 27th, 2008Over recent months more and more of us have become aware of the importance of protecting our personal data, and the problems that can arise as a result of failure to do this. Personal data can include name, address, date of birth, national insurance details, banking details, etc. Some people have been cynical in the past with regards to the level of damage that someone can cause if they get a hold of your personal data, and one of these cynics was the television presenter Jeremy Clarkson. (more…)
Acknowledge and deal with your debts
Monday, May 26th, 2008It can be very tempting for those with a high level of debt and financial commitment to simply try and ignore their financial worries once difficulties set in. Many people think that burying in their heads in the sand and trying to ignore financial worries means that they will not get stressed over the situation, but in fact failing to address this sort of problem can actually make the whole situation much worse, and could ultimately result in health problems, family problems, credit problems, and even legal action – or worse still loss of your home if you have secured finance. (more…)
Bank decides to leave base rate static
Friday, May 23rd, 2008In April of this year the Bank of England cut the base rate for the third time since December of last year, cutting it by a further 0.25% and taking it from 5.25% to 5%. Following the rate cut the majority of analysts and economists predicted that there would not be a further interest rate cut in May, as the central bank has not cut rates back to back for seven years. These predictions were proven right, as the Bank of England announced that there is to be no base rate cut for May following the recently Monetary Policy Committee meeting. (more…)
What’s in store for the UK economy?
Wednesday, May 21st, 2008Over recent months the Bank of England and the Monetary Policy Committee have faced a tough decision when it comes to setting interest rates. This is because on one hand the central bank needs to be very cautious about cutting the baste rate because of rising inflation, but on the other hand the bank needs to cut the base rate in order to boost the slowing economy. (more…)
Start of year sees insolvency levels rise
Tuesday, May 20th, 2008According to a recent report the first three months of this year have seen individual insolvency levels rise, with an increasing number of people entering into insolvency plans as a result of difficulties with household finances, which have been strained for millions over recent months. A combination of high mortgage repayments, rising bills, increased living costs, and tight credit conditions have all contributed to the rise in insolvencies according to industry professionals. (more…)
Credit crunch leads to increase fraud on finance applications
Friday, May 16th, 2008According to a recent report the effects of the global credit crunch have gone much further than simply making it more difficult to get finance in the UK. Industry officials claim that many consumers are now committing higher levels of fraud on finance applications as a result of the credit crunch, as they think that this is the only way that they will be able to get credit in light of the tighter credit conditions that have come about as a result of the credit squeeze. (more…)
Lenders need to be more cautious
Wednesday, May 14th, 2008Over recent months we have all heard about the various effects of the global credit crunch, which has created havoc in the UK’s money markets and has resulted in many changes. One of the major changes that most of us have heard about is the tighter credit conditions that have resulted from the credit squeeze. According to reports lenders have really tightened up on their lending criteria, are being far more careful with regards to how much new business they take on, and are being far more cautious about who they will lend to. (more…)
The credit squeeze continues
Monday, May 12th, 2008It was in the summer of last year when most of us heard the expression ‘global credit crunch’ for the first time. At that time few of us knew just what a dominating force the credit crunch would be in the world of finance, but over eight months later this phenomenon continues to wreak havoc in the financial markets both in the UK and across the globe. (more…)
Is debt consolidation the answer?
Wednesday, May 7th, 2008With an increasing number of households finding themselves under financial strain as a result of high living costs, tight credit conditions, and rising bills, it is little wonder that so many have decided to turn to consolidation in order to try and reduce their outgoings, reduce the number of debts that they have to deal with, and ease the financial strain that is has left many teetering on the financial brink. However, it is important for anyone that is considering this step to determine whether consolidation is the right answer. (more…)
CAB still dealing with many debt enquiries
Saturday, May 3rd, 2008An increasing number of households are currently trying to cope with rising debt problems, as rising bills, high mortgage repayments, and restricted access to credit all take their toll on our finances. As a result of this an increasing number of people are now seeking advice with relation to their debts, and the Citizen’s Advice Bureau has reported a significant rise in the number of people that have been contacting the agency with regards to financial problems and debt worries. (more…)
Lord Hunt recommends changes to FOS
Monday, April 28th, 2008In a six month exercise Lord Hunt of Wirral has carried out an extensive review into the UK’s Financial Ombudsman Service, and based on this review he has come up with a list of over seventy recommendations that he states are designed to make the service more accessible and more affordable for consumers. Lord Hunt is now hoping that some of these recommendations will not be taken on board, stating that they could really help to make the service more accessible to all. (more…)
Do your finances need to be restructured?
Friday, April 25th, 2008With many different living costs and bills rising in price over recent weeks, and with mortgage repayments still high, it is hardly surprising that so many households are struggling financially, with many unable to keep up with repayments on their bills and debts. Bills such as water, gas, electricity, and council tax have all gone up over recent weeks, and the cost of essentials such as food and petrol have also gone up. Whilst interest rates have been cut by the Bank of England some lenders have continued to hike up their rates as a result of the credit crunch, and many people are still coping with high repayments on their mortgage. (more…)
Many could face rising mortgage costs this year
Thursday, April 24th, 2008The mortgage industry is in complete turmoil at the moment as the result of the global credit crunch that swept across the UK last summer. Since this time the number of mortgage approvals has plummeted, the number of mortgage products on the market has plunged by two thirds, and many consumers have been left out in the cold when it comes to getting a mortgage or remortgaging. With lenders making it more and more difficult for consumers, many as a result of increased difficulties in getting finance on the wholesale money markets to fund their lending, the situation is set to get worse. (more…)
Could house prices go through the floor?
Thursday, April 24th, 2008Over recent months there has been a great deal of speculation with regards to house price movement in the UK, and a wide range of data has pointed to the fact that house prices are falling, which could create real problems for those that have recently taken out huge mortgages on expensive properties, although it does spell good news for first time buyers. The financial headlines are still filled with reports and speculation about house prices, leaving many concerned over just how fast and how hard house prices across England and Wales could fall over the coming year. (more…)
Spreading the cost of your purchases by using your equity
Wednesday, April 16th, 2008Many people plan to make a large purchase each year, despite the fact that they may not have the funds available upfront to pay for this purchase. In the past this wasn’t too much of a problem, as most of us could enjoy pretty easy access to finance from a range of lenders, and getting finance such as a credit card, loan, or increased overdraft was not a problem for most. However, over recent months this situation has changed, and gaining access to affordable finance has now become extremely difficult. With lenders struggling to get the finance that they need to fund their lending operations consumers have really had to suffer when it comes to availability of and access to credit. (more…)
How Is The Credit Crunch Affecting Building Societies?
Monday, April 14th, 2008There seems to be some confusion over just how the credit crunch is affecting building societies in the UK, with conflicting opinions from various officials within the building societies industry. When the global credit crunch took a hold it became quite apparent very quickly that the larger banks and financial institutions in the UK were going tom experience massive problems. Indeed, larger banks and lenders did start to experience many problems, with increasing difficulties when it came to securing finances on the wholesale markets in order to fund their lending operations. (more…)
Should those with bad credit be relying on mortgage brokers?
Saturday, April 12th, 2008A recent report indicated that many consumers with poor credit were becoming increasingly reliant upon mortgage brokers in order to find them a suitable mortgage deal, with many assuming that they will not be able to find a mortgage on their own due to their credit. Whilst it is more difficult to find a suitable mortgage if you have bad credit, particularly in the current financial climate, authorities are concerned that some may be a little too reliant on mortgage brokers. (more…)
Is Recession Looming? The Queen May Think So
Thursday, April 10th, 2008Since the global credit crunch took a hold in the UK in the late summer of last year, there has been growing concerns over the state of the economy. Consumers were already facing financial difficulties as the result of five interest rate rises between August 2006 and July 2007, and consumer confidence levels had already fallen as a result of financial woes, which were affecting the economy. However, the global credit crunch brought with it a whole host of new problems, making it increasingly difficult for consumers to sort out their finances as a result of tighter credit conditions that lenders put in place. (more…)
Problems set to continue in mortgage sector
Wednesday, April 9th, 2008For many months now the UK has seen the mortgage sector experiencing increased difficulties, with lack of funding resulting in the inability to meet demand and increased cautiousness over who to lend to and how much business to take on.
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Are HIPS a waste of time?
Monday, March 31st, 2008Home Information Packs have been shrouded in controversy since they were first introduced last year, with both supporters of the packs and those opposed to them arguing their side. Those supporting HIPs have stated that these packs contain all of the information necessary to make the sale and purchase of a property smooth, quick, and hassle free. However, those opposed to the packs have said that they cause unnecessary delays, are costly, and are even resulting in fewer properties coming onto the market because some buyers are put off. (more…)
Can Long Fixed Rate Mortgages Stabilise Mortgage Market?
Tuesday, March 25th, 2008Since he came into office as Chancellor of the Exchequer, Alistair Darling has spoken very highly of long term fixed rate mortgages, and has made it quite clear that he believes that this is the way forward for the UK in order to try and bring stability to the housing and mortgage market, and increase security for homeowners. (more…)
Are you a homeowner on an IVA programme?
Wednesday, March 19th, 2008Awareness over Individual Voluntary Arrangements, or IVAs, has increased over the last couple of years, with a number of firms putting out advertisements relating to this type of debt solution. An IVA is known as a softer alternative to bankruptcy and is designed to help those in high levels of unsecured debt to get out of debt more quickly. (more…)
Should you consider payment protection insurance?
Monday, March 17th, 2008For the last couple of years payment protection insurance, known simply as PPI, has hit the financial headlines on a number of occasions, and this is because of a number of problems that regulators have picked up on with regards the both the sale and the effectiveness of this cover. PPI is a type of cover that is designed to cover your repayments on a loan or other form of finance for a set period of time in the event that you cannot meet the repayments due to sickness, accident, or redundancy. The idea behind PPI is that having your repayments covered for a specified period will enable you to get back on your feet or get another job without the added worry of how to pay your debts. (more…)
Sale and rent back scheme still being branded a rip off
Sunday, March 2nd, 2008A fresh attack has recently been launched against some sale and rent back scheme firms by the homeless charity Shelter, with officials claiming that many of these forms fail to live up to their promises and rip off consumers in terms of what they pay for the property. These schemes have become increasingly popular with struggling homeowners who want to stay in their property but cannot afford the mortgage repayments and do not want to risk having the property repossessed and getting thrown out. (more…)
Are Cheap Mortgages Coming Back on the Market?
Saturday, March 1st, 2008It seems that over the past year or so cheap mortgages have become a thing of the past in the UK, with the series of five interest rate hikes between August 2006 and July 2007 resulting in lenders hiking up their mortgage interest rates and reducing affordability for many potential property purchasers. (more…)
End Of The Road For 125% Mortgages
Friday, February 29th, 2008The recent announcement that Northern Rock is to remove its 125% ‘Together’ mortgage from the shelves may be the final nail in the coffin when it comes to sizeable mortgages for over and above the traditional 95% value of the property. Over the past week or two more and more lenders have been announcing that they will be removing 125% mortgages – which comprise 95% mortgage and a 30% unsecured loan – from the shelves, with the effects of the credit crunch continuing to see credit conditions worsen. (more…)
Preparing to Apply for a UK Loan
Friday, February 29th, 2008Many people find the need to apply for a loan in the UK for one reason or another, and there are all sorts of loans available these days from car loans to help you purchase a new vehicle to mortgage loans to buy a new home. You can also find a wide range of other loans, such as consolidation loans, homeowner loans, wedding loans, holiday loans, secured loans, unsecured loans, and more. (more…)
Fixed Rate or Variable Rate Mortgage
Wednesday, February 27th, 2008When you are looking to take out a mortgage you have to decide what sort of mortgage is going to best suit your needs. There are two types of mortgage that often prove popular amongst property purchasers, and these are variable rate and fixed rate mortgages. There are pros and cons to be considered for both of these mortgage types, and it is important to compare the pros and cons in order to determine which of these mortgage products are likely to prove suitable for your needs. (more…)
The first time buyer affordability crisis continues to hit
Monday, February 25th, 2008Recent reports have suggested that first time buyers in the UK are still in the throes of an affordability crisis, despite the falling house prices and despite predictions that interest rates are set to fall a number of times this year. First time buyers have been experiencing affordability problems for some time now, and fewer and fewer first time buyers find themselves in a position to get onto the property ladder. (more…)
What can you use a secured loan for?
Monday, February 25th, 2008A secured loan is a loan that is secured against the equity in a property, and as the name suggests, these loans are available to homeowners with some level of equity in their property. With equity levels rising at remarkable levels over recent years, as property prices have rocketed in the UK, homeowners have found themselves sitting on a tidy nest egg when it comes to their equity, and homeowner loans are a great way of unlocking the equity in your home without having to sell up first.
There are many benefits to taking out a secured homeowner loan. These loans are often available to those with bad credit who cannot get unsecured finance, making them accessible to more people or for applicants wishing to borrow over £20,000. You will find that based on the level of equity that you have in your home the borrowing power with a homeowner loan compared with an unsecured loan can be far greater. Also, the repayment periods with homeowner loans are longer, which means that you can spread your repayments over a longer period and enjoy lower monthly repayments.
You will find a number of lenders that offer secured loans, and both the eligibility requirements and the terms and conditions can vary from lender to lender. It is important that you compare different homeowner loans from a number of lenders in order to get the best deal and the most suitable loan for your needs. You should compare the interest rate to ensure that you get a competitive rate of interest, although you should remember that if you have a bad credit rating the interest rate that you get is likely to be significantly higher than for those with good credit.
You can use a secured homeowner loan for all sorts of purposes, making this both an affordable and a flexible way of borrowing money against your home. You can use the cash to improve your home with new fixtures and fitting or simply a decorative facelift. You may want to reduce your monthly outgoings and make financial management easier by paying off al of your smaller, lower interest debts, so you could also use your homeowner loan for debt consolidation, leaving you with just one lower interest loan to pay rather than a number of higher interest debts.
You may be considering treating yourself to the trip of a lifetime, whether it is backpacking around Europe or exploring far flung destinations, and a homeowner loan provides an effective way of raising the money to fund this type of trip, so you won’t have to miss out on seeing the world simply due to a lack of finances. You may be looking for ways to fund a dream wedding either for yourself or for a child who is getting hitched, and again these loans provide an effective way to pay for this type of event.
There are many other things that you can use our secured homeowner loan for, from buying a new car to paying for an education. By comparing different homeowner loans and finding a low rate loan you can enjoy value for money on your borrowing and you can untie the equity in your home without having to worry about selling up and moving on.
How is Your Credit Rating?
Sunday, March 4th, 2007If you’ve ever been offered a substantial line of credit with one company and been refused by another, it’s all a result of each company’s credit scoring policies. Your personal credit score may fall within the acceptable limits for one company and not for another. (more…)
What is Different About Bad Credit Loans?
Monday, January 15th, 2007These days, banks offer a range of products and services designed to meet the needs and wants of all their customers. Many branches will have a different advisors and customer relations managers who are assigned to the different customers of the bank. So for example, there will be a student and graduate advisor who will begin to build a personal relationship with these customers, then there will be a small business advisor who will be trained and up to date on the needs of business, and they may also have a corporate manager who will liaise and meet the needs of the larger corporate customers. (more…)
Pitfalls of Having a UK Home Loan
Saturday, January 6th, 2007We hope in this section to guide and inform you of the pitfalls of getting a UK home loan. Which lender will give you the best deal and who will charge you the most. Here are our top five concerns that you need to look out for when making the decision of who lends you your home loan.
Arrangement Fees
You will be charged an arrangement fee no matter which lender you go to but some are worse offenders than others when it comes to hidden charges. The cost of an average arrangement fee went from #339 to #480 in the last half of 2004, that’s an increase of 42%. One company, Northern Rock, has increased their arrangement fee from £495 in June 2004 to £695 in February this year. That is a staggering £200 increase in eight months. If you already have a mortgage and you are at the end of your discounted or fixed rate then switching to another deal with the same lender will be difficult as most lenders decline in giving their best offers to existing customers. Some companies charge a non refundable arrangement fee. These companies are Abbey and Nationwide. It is a lot of money to lose if your deal does not go through.
Exit Fees
Comparing exit fees of different lenders is a good idea if you are thinking of switching your mortgage. More and more companies are increasing their fees with Abbey setting their fee at £225 from £99 and Alliance & Leicester going up to £295 from £195. Some companies don’t charge you anything to switch mortgage so it is becoming seemingly hard for companies to justify their actions in increasing their fees if charging them at all. Nationwide was one of the companies that didn’t charge but in May from this year they have started charging £90 which is relatively cheap compared to some companies.
Higher Lending Charges
First time buyers beware. Being a first time buyer you are probably going to borrow a larger percentage of the property value therefore incurring the higher lending charge. Typically it is around the 90% mark where companies will start these charges. Newcastle Building Society start charging at 85% and Lambeth, Darlington and Cheshire building societies start charging at 80%. The companies which don’t charge you for borrowing a higher percentage are Northern Rock, intelligent Finance, Standard life, Co-operative Bank, Woolwich, Nationwide and Standard life.
Insurance Tie-In
Many companies charge you if you don’t take their buildings insurance. Northern Rock, Alliance & Leicester and Bristol & West all charge you £25 if you do not take out this insurance knowing that you can get better insurance elsewhere.
Annual Interest
It is more expensive to go to a lender which calculates your interest annually as you will be paying interest on payments that you paid months ago. The companies which still charge you annual interest are Portman and Alliance and Leicester. Most companies now however calculate your interest daily lowering your interest and debt.
Why are Banks and Building Societies incurring such charges? With the way in which customers are looking for the best rates companies have to find new ways in which to make a profit. There are many more hidden charges to look out for when looking for a home loan and it is researching on your behalf that will ultimately give you the best deal out there.
Finding the Best Consolidation Loan
Saturday, January 6th, 2007The average level of consumer credit continues to increase every year. Today there are more people in debt than ever before. This also means that there are more people having trouble making debt repayments than ever before. (more…)
Can I Consolidate my Debts with a Personal Secured Loan
Saturday, January 6th, 2007Debt consolidation continues to grow in popularity as more and more people realise the savings they can make from doing so. Debt consolidation is a relatively simple concept. You first assess all your existing debts. Most people will have a number of outstanding debts from various sources such as credit cards, store cards, bank overdrafts, car loans and other personal loans. These will all be charged at different interest rates but because of the nature of the debts, the rates charged are generally quite high. For example, typical credit card rights currently run at over twenty per cent and sometimes as high as thirty per cent. (more…)
Consolidation of Debts With A Poor Credit History
Saturday, January 6th, 2007Virtually every adult in the country will have a credit report. This is a computer file stored on a database that will contain information on your personal details and status, you income, your occupation, the amount of outstanding debt you have and your past record of paying off loans. Lenders will then use this information to assess your credit worthiness, or in other words, the level of risk involved in lending money to you. (more…)