The Best Long Term Loans

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Do you wish to take out a big loan from a bank or a credit lending institution but want to pay tiny instalments on it over a period of several years? If your answer is ‘Yeah dude’, then wait no more and start looking for a credit lender that provides best deal on a long term loan. Before you start a search, it is wise to have a little bit of an overview as to what a long term loan is so that you don’t make a fool of yourself when talking to a credit officer.

Under a long term loan, a borrower of the money take out a loan in one lump sum and then pays it back along with the interest amount over a period of several years. In UK, generally a long term loan is granted by banks to individuals for 3 years and 5 years. A long term loan can be availed with or even without collateral but since an unsecured loan with no collateral will have a greater loss for a bank or credit lenders in case there is a default, that’s why unsecured long term loans have a high risk premium attached to it.

This long term credit facility is often availed by businesses, entrepreneurs, students and even first time home buyers that need a big fat heavy financing right at the beginning but will be able to repay the amount in instalments over years. If you are also looking for avenues from where you can take a long term loan on favourable terms then here are some best types of long term loans that we have shortlisted for you.

Mortgage for Home Buyers

If you want to purchase a home of your dreams then probably you will need big fat financing from the lender. The most common type of long term loan extended to the customer for buying a house is a mortgage. In a mortgage, borrowers do not have to keep anything as collateral and the home that they are buying is treated as collateral. Mortgages are popular in UK and you can easily find a banker or a credit officer who will be willing to extend you the mortgage facility if you have a good credit score. According to a statistics by Bank of England, mortgage loans have increased by 2.5% this year as compare to previous year.

Bonds for Business

If you think that the cost at which the bank is offering capital is too high then a business can choose to subtract the banker from the equation of business and borrow the money from other corporations and general public by floating a bond in the money market. By this method, a company can raise funds immediately at a low cost and then pay a fixed amount of coupon rate to the bondholders annually.

Student Loans for NINJAs

Student or millennials that are borrowing loans to finance their education are the NINJAs. No, they won’t chop off anybody’s head; they are NINJA in the sense that they have No Income, No Jobs and No Assets. But this can’t be an excuse to ditch the studies so they too, in the world of financial capitalism, can borrow a long term loan and pay it after their graduation.

In Finance

Yay and Nays of Payday Loans

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Payday Loans are becoming the new black. More and more people are now turning to payday loans instead of traditional bank lending. When people need money in an emergency, they have a number of different options to choose from. Payday Loans is one that stands head and shoulders above the others. But should you really go for Payday loans when you find yourself in a financial crisis?

Is it beneficial or detrimental to use Payday loans? This article outlines some advantages and some disadvantages of using Payday Loans.

Nays of Using Payday Loans

  • Payday Loans are short term loans. People who need large amounts of money to handle a bigger financial crisis can be disappointed with payday loans because the amount of money lent and its payment schedule is smaller than other loans.
  • Despite the fact that payday loans have simpler vetting process for potential borrowers, there is one requirement that must be fulfilled. The borrower needs to be employed full time. People who are working on and off or those who have retired and are on social benefits cannot make use of payday loans because they wouldn’t qualify.
  • People who don’t have a current bank account cannot make use of these loans. The user may like dealing with cash only, but for them to get payday loans they need to make a bank account.
  • Payday loans available online can have a risk of fraud. Not all websites online are genuine and there is a high chance that users may be duped into giving out their financial details for payday loans when it is actually a scam website. It is important that the borrower is able to apply for pay day loans at a website that is reliable.

Yays of Using Payday Loans

  • Using payday loans can help you avoid fines and unnecessary surcharges. Not being able to pay your bills for lack of cash can result in late payment fines etc. Using payday loans helps inject cash into the cash flow and allow the borrower to pay off their dues that might result in a surcharge later.
  • Payday Loans help you deal with situations that you have not planned for. One of the reasons these loans are becoming popular in the UK is because people can face economic emergency at any time and they need fast cash to get through that emergency. Payday Loans provide that avenue by paying for your emergency tooth filling, car repair, etc.
  • They can help the borrower repair their credit rating. There are some financial obligations that need to be fulfilled each month or they could result have a negative impact on your credit rating. Taking payday loans can help you meet your financial obligations and save your credit ratings from falling down.
  • People who are struggling with their credit rating can use this method, because it does not give utmost importance to a lender’s credit rating, instead focusing on their need.

These are some of the advantages and disadvantages of payday loans. It is on you to decide whether you want to go forward with it or not.

 

In General

Strip Comics!

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Hi everyone, this is going to be a short one for my first post, sorry. I just wanted to introduce myself–Dave, hi–and talk about general stuff.

So, I don’t watch a lot of TV… which people find very strange for some reason. I’m also not on Facebook very much, if at all, which even more people find even stranger. I try not to mix those two facts with the fact that I don’t have a smart phone… because I think I’d be literally blowing peoples’ minds with that information. Anyway… I’m getting off topic. What I do tend to watch is YouTube. It’s awesome isn’t it? You could literally learn anything on that website, what’s more is that there are tonnes of really entertaining shows. Granted… there are tonnes of absolutely rubbish shows… but that’s the same as TV isn’t it… so not much you can do about that.

Where am I going with this? Oh yeah! So, there’s this channel I’ve been watching lately, it’s called comics explained and it’s fascinating. The guy covers everything there is to talk about regarding comics. Now… I’m not a comic reader… nor do I have any interest in them. However… this guy–Rob–is really interesting. There’s so much lore behind every comic, I had no idea so much thought went into them. There us also a rich history behind comics and a culture that is deeply entwined with society. For example, comics typically mirror the society of the time. In times of war, story arches mirrored, to some extent, what was actually happening in real life.

Other interesting areas are the evolution of heroes and villains. For example, both sets of antagonist and protagonists inherently had some additional super human abilities. When stories were first written, characters gained these powers through things like exposure to radiation or cosmic rays. However, it wasn’t long before story writers were struggling to introduce new characters as they were quickly running out of ideas and ways to give them special powers. It wasn’t until the late 80s that Stan Lee introduced the concept of characters gaining their abilities due to genetic mutation, from birth. This spawned a paradigm shift in comic story lines, opening the flood gates to new and exciting story arches that were practically limitless.

This however, spawned a new challenge. Stories were getting so expansive that it made it difficult to capture new audiences. New readers were being forced to learn a hell of a lot about characters and past events in order to understand current plots and events. With dwindling sales in the early 2000s Marvel and DC underwent a huge ‘reboot’ of their respective franchises. They reinvented characters and completely changed settings, spawning yet another new era of comics.

In General