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According to a recent study, vast numbers of indebted Brits could have potentially avoided their situation by keeping a closer eye on the APR’s associated to certain forms of unsecured credit, such as credit cards.

A firm of experts on the subject have suggested that many consumers pay over the odds by default, by simply not fairing the APR of their card against that of other card providers.

It has also been revealed that many consumers are confused as to how APR is actually calculated and fall into the red without even realising it.

One financial advisor has suggested that credit card borrowers should try to be a little more aware of the market, and to try and switch the balance of their cards to one carrying a more competitive rate of interest as and when time permits.

Consumers should also be aware that other forms of unsecured credit such as personal loans could be far friendlier to their finances, if they prepared to shop around.

If you’re considering to a buy a new car over the coming months, it might be a good idea to have your finances in place before you visit your preferred dealership or risk being sold a vastly expensive finance agreement as part of the deal.

Recent market data has revealed that British car buyers spend massively over the odds by agreeing to finance through their dealership, rather than sourcing a package themselves. Accordingly, the average “dealers own” finance package is likely to carry an annual percentage rate almost 5 per cent higher that a competitively priced unsecured loan. This lack of understanding and/or desire to shop around is said to cost the average British car shopper a whopping £170 million collectively, over the course of a year.

In addition, experts have also suggested that UK car buyers could stand to save around £1100.00 by opting to take the personal loan root over a finance agreement, which could equate to a saving of almost 20% off the actual car value.

Consumers should also be aware that by having the finance in place before you shop for a car not only gives you a monetary advantage, but also greater scope to bargain with the dealer. The moral of the story is that the most convenient scenario is rarely the best, especially when it involves your personal finances.

Predictions of a decline in the housing market appear to be of little consequence for buy to let investors, as preliminary reports suggest that close to £22 billion was invested into the market during Q1 & 2 of 2007.

The UK’s society for mortgage intermediaries has revealed that almost 172,000 BTL mortgage products were sold during the first six months of this year, which coupled with other outstanding agreements values all active contracts at more than £100 billion. Furthermore, it is also suggested that BTL agreements now encompass more that 1/10th of all active mortgage contracts.

It is thought that rising how prices have caused many first time buyers to consider the renting option as a more financially viable alternative to buying at the current time. It is for this reason that the rental market is particularly strong at the moment, and is also allowing many landlords to charge over the odds for their accommodation (location permitting). It is also allowing BTL investors to invest more into additional properties, which is subsequently fuelling growth for this specific type of mortgage product.

However, in spite of all the positive data that is currently being presented to BTL investors, analysts have advised property moguls to tread with an air of caution suggesting that the market may not be as stable as many seem to think.

Brits are amongst the most generous people in Europe, as far as lending money to friends are concerned suggests findings from a new report.

Accordingly, a staggering ½ a billion pounds is lent between friends each year which represents around 10% of the population. The average loan size is said to be around £100, although 15% of people lend/borrow more than £150. However, analysts have suggested that the actual act of lending/borrowing money from close friends is also one of the biggest causes of interpersonal rifts.

It has also been discovered that the most common reason for requests of loans from friends, are usually to tide the borrower over financially until they receive their pay from work. Other reasons for borrowing include small business ventures, home improvements, new vehicles and holidays.

One of the UK’s leading banking institutions has advised any person that is considering borrowing money from a friend, to only do so if they feel their relationship can take any potential strain that a delay in payment could bring. The bank further suggested that it might be more suitable to approach their own bank for the lend, as a means to avoid risking their friendship in the first place.

According to a recent study by one of the UK’s largest home loan providers, more than 2/3rds of UK homebuyers would be happy to pay an additional premium for their new home, providing it came with a spacious garden.

Staggeringly, around 20% UK homebuyers would be happy to pay upwards of £40,000 for the luxury of a back garden, with an additional 68% of people stating that they would be happy to pay around £15,000 extra. Housing experts speculate that at least 15% of homeowners in the UK are not making the most of any land associated to their home, and are potentially losing an additional 13% of its market value when they come to sell.

At a time when house prices are touching record highs, it would be foolish for any person that is contemplating the sale of their home to not consider a little outdoor remodelling, space permitting of course. In addition, the study has also revealed that recently wed couples are amongst the most likely to succumb to higher home premiums for the sake of a garden, as are young families and higher end first time buyers.