- Friday, 6 March 2009There may be no time like the present to consult
IVA specialists, in light of the ever-reducing base rate.
With the Bank of England's monetary policy committee halving the base rate yesterday to 0.5 per cent,
IVA specialists may be a point of call for Britons adopting a long-term approach to their finances.
Ray Boulger of mortgage broker John Charcol says that a short-term approach to money management could prove damaging for many Britons.
"Borrowers should make sure they do all they can to look as far into the future as possible and focus on the long-term view," he says.
He explains that a fixed-rate mortgage may charge more interest than a tracker deal in the immediate future, but could prove more economical as time goes on.
But he warns that some people with high loan-to-value ratios in their existing mortgages may face difficulty in obtaining lending in the future.
Such people could seek
IVA advice, in light of the voluntary arrangements' potential to clear up to 70 per cent of consumers' debt from the outset.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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