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The Credit Crunch - How does this affect me?
Over recent months we have all heard the words "Credit Crunch", it has now even made the Oxford Dictionary, and you even hear children as young as eleven and twelve talking about it. They dont understand it, as do many adults, but the fact that we hear about it every day and in all areas, means that it has a degree of bearing on all our lives. The collpase of Lehman Brothers this week has sent shockwaves around the world, and seen stockmarkets react violently to it, but in actual fact, it is not entirely a surprise, as they have been in trouble for some months, because of their exposure to bad loans over in the USA. The reality of the so called "credit crunch" is that it is much harder to get credit from all sources, including personal loans, car loans, and of course, mortgages, as lenders are cautious about not only lending to the population, but also to each other. However, in recent weeks we have seen many lenders reduce rates, and bring out very attractive deals, particularly for remortgage business, which there is still a massive demand for. There is a need for specialist advice however, as the sourcing of these deals is much more difficult, and finding the right lender for many people is not easy, unless you have the knowledge that Financial Advice has been built upon. We have heard many of the scaremongers and so called "financial journalists" talk about pension funds collapsing, and Buy to Let being a bad move. The fact is that if you invest in a pension fund overnight, you will lose money, as pensions and investments are long term vehicles, and no one should expect rapid returns. The fact is that many people in the UK are sat on Pension Funds that are not working for them as they best they could. Anyone with many years in a pension fund should look at their funds, and consider switching them to other schemes. Again, the need for specialist advice is paramount! Buy to Let is another area where the UK has seen a massive growth in demand for rental properties, and have seen rents increase over the past 12 months. It is not a fast way to make money. Advice and knowledge of the sector is crucial. At Kings, we have experts in all areas of Financial Services, including Mortgages, Pensions and Investments, Buy to Let, and Protection. We have experienced Property and Lettings Staff, and can even arrange Conveyancing for you !We work with all the major UK Lenders, and as a Partner of Openwork, have access to many of the best UK Pension and Investment Providers. Why not call us on 01707 872000, and get some free, impartial advice, from one of our experts! After all, what else can you get free in the current climate? If you answer yes to one of the following questions, you should call us:- Do I have a Pension? Do I not have a Pension? Am I moving home? Do I have a mortgage, and I am staying where I am? Do I have a Buy to Let property? Am I looking for a tenant? Do I have money to invest? Make the call today, and we will even call you back, or e mail us at chris.bramham@kings-group.net
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