Buying a Car ? Check Our Car Finance from 5.4% APR

Do you want to buy the car of your dreams? At Heart Finance we want to work with you to find the best way of getting you car finance. We have finance options designed to work with your budget and get you into your new car with the minimum of hassle. We are now affiliated with the leading car finance brokers and, the easy online application together with years of experience, will help you find the right package for you.Car Finance Rates from 5.4% APR  - No Deposit Required.  

Apply here: http://www.heartfinance.co.uk/car.html

Insurance Companies Remind Motorists of the Impact of Drink Driving

During the Christmas period your nights out and social gathering in Bars, Restaurant and Night Clubs multiply. Motorists are constantly reminded about the impact of Drink Driving which can lead to  catastrophic consequences. 

As part of the ongoing Think! road safety campaign from the Department for Transport, drivers up and down the country are being asked to be more aware of their responsibilities for staying within the legal alcohol limit over the coming festive period.

Insurance companies also take endorsements for drink driving very seriously and the the impact that a ban for drink and driving can have on the insurance premium is definitely substantial.
The effect of Drink and Drive last well over a winter thaw.
Be Safe Don't Drink and Drive.

Debt Management - Get Back On Track

Debt Management Plan

With Heart Finance, you can be introduced to a debt management plan (DMP)
which helps you to manage your debts and pay them off at a more affordable rate
by making reduced monthly payments. DMPs from Heart Finance and The Debt Advisors,work with you to establish a budget that meets your household's needs.
Any money left over will be consolidated into one monthly payment to your debts.
 We don't charge any set-up fees.
Please be aware that many debt management companies provide debt management
as a service, but most will charge a fee to set up. 

What Affects your Credit Rating

If your credit rating is not a decent one, it can be very frustrating when it comes to applying for a mortgage, financing a new car or even just securing a decent current account or credit card - so it is best that we know all that there is to know. 

However, very few people ( 7 out of 1000 ) know what is actually included in their credit file - while a shocking 63 per cent have never checked their score, seeing as most will have tried to take out a financial product at some point.

We would like to  help you better understand the process behind what makes up your all-important credit history.

'A bad rating banishes you to a credit blacklist'

Three quarters of all of the people surveyed by Which? believe that having a bad credit rating automatically means being blacklisted by lenders. 

But this is not true – your credit report only holds the facts about your history and a score.

Each company has its own criteria for assessing applications. This means that a rejection by one doesn't necessarily mean the other credit providers will feel the same.

If a lender is cautious about your history you might still be accepted, but the provider is likely to bump up the interest rate.

'Being rejected will put off other lenders'

A whopping 78 per cent of people presume that every time they are rejected for a card or loan it marks their file, affecting future applications, according to credit referencing agency Experian.

Each time a company searches your report it does leave a mark. Other lenders can see that firms have done a search but it won't show the outcome  - so unsuccessful applications won't actually show up as such. Lenders will be able to see whether you subsequently ended up with a product though.

James Jones, credit expert at Experian, explains that only the date of any previous checks, the name of the organisation you applied to and the type of credit you applied for appear on the file.

That said, if you make multiple applications in a short space of time you risk even more rejections because it makes you look like you are desperate for credit. 

If you are shopping around for a credit card and getting quotes from several lenders you can ask them for a quotation search. This means you can find out what the company would offer you without a full credit application search marking your history.

 

'You only have one credit history'

Although you might be aware of the three main credit referencing agencies Experian, Equifax and CallCredit, many people wrongly assume that they all access the same credit file.

The majority of the information on each company's report will be the same, but there may be some slight differences with some offering extra information drawn from other sources (see the table below for more information).

Jones says: 'Most established data sharing lenders provide information to all three credit referencing agencies whereas newer members typically work initially with just one CRA.'

Each agency therefore holds a separate report. They also use slightly different systems to work out a rating.

An application search by a bank or credit provider will only show up on the file of the agency used to run the search - not be pinged into all three.

Remember: you cannot remove anything from your credit file unless it is a mistake - in which case you will need to notify all three agencies.

'Never borrowing makes you a safer bet'

It seems a bit counter intuitive, but lenders actually prefer you to have borrowed money before, so that they can then judge how likely you are to pay it back.

The referencing agencies don't have access to any savings or investment information, so searchers can only judge you on how disciplined you are at repaying debt and paying your bills on time.

To apply for the most popular financial products and get the best rates, you will need to build up your score to make you into a more attractive borrower.

There are special credit builder cards that can help you do this but these are only worth considering if you would otherwise struggle to get a standard credit card and make sure you never miss a payment and you pay off your balance each month to avoid being slapped with sky-high interest.

If you have never had any credit before speak to a lender before applying and outline your situation to see if there is anything specific you should do.

'Missing payments will not affect your score'

Missing payments or bills is never a good idea, but it can be particularly harmful to how attractive you look as a borrower.

This does not just include the standard loans or credit card payments - your report can show any late payments for your utilities and any other contracts such as your mobile phone.

Earlier this year, Yorkshire Water started reporting to Experian and the firm has also has set up a Rental Exchange, meaning your report includes information on rental payments too.

Jones says: 'Missing one or two payments may not make too much difference, but if it looks like regular behaviour, lenders will shy away from you.’ 

The mark this will leave on your file usually lasts for around six years – so it is not the life sentence most people worry about.

Remember: the more time has elapsed since you missed a payment the less likely a provider is to consider it a problem.

'Registering on the electoral roll isn't important'

One of the most important steps to building a solid credit rating is registering on the electoral roll, as it confirms your identity at your address. You need your borrowing to be registered at that same address and everything to marry up.

So if you are not on the roll and you apply for credit, your history and credit report can't be accessed.

Changing address several times in a short space of time might not show you in the most positive light, as it can make you look less stable. But if you making sure you have registered at each address it will help make sure they have access to your full history.

Cutting up your unused credit cards might take away the temptation to spend but it could hurt your credit rating

'You should ditch your unused cards to boost your rating'

If you have a wallet full of cards it might be a good idea to cull the numbers to remove the temptation to run up debts.

But having one or two unused credit cards, or having a higher limit on a card or overdraft than you need, might actually help your score.

Broadly speaking, you will look like a better risk by showing restraint.

You can do this by using a small proportion of the credit you have access to and being prompt with your repayments.

Therefore getting rid of a card that you do not use may in fact hurt your credit rating in the short run.

'You can check your file too much'

Checking your own credit rating will be recorded on your file.

But the footprint it leaves is not one seen by lenders when they run a search - so there is no excuse for burying your head in the sand.

It is important to review your file to make sure there are no mistakes, which can affect your borrowing ability, and to check for unusual activity, which could point to identity fraud. 

You will need to use Experian's Credit Expert to access your file there, visit the Equifax website, or visit the Noddle website for your CallCredit history.

You will pay a £2 fee to view your file each time, but there are also free trials to take advantage of - remember to cancel before the trial period ends to avoid paying for a monthly service. 

'My address is blacklisted'

Many people mistakenly believe that their credit score will be affected if they live with someone with a bad credit history.

But only jointly held accounts, loans or mortgages will show up on your file - simply sharing a house will not affect you. 

If you have had any joint accounts in the past it might be worth contacting Equifax, Experian and Call Credit to add a note to your file to specify that you are no longer financially linked with that person.

'Previous tenants debts make it hard for YOU to borrow'

Piles of final demands landing on the door step addressed to previous occupants is likely to worry anybody as nobody wants debt collectors banging down their door – but the good news is that it can’t affect your credit score.

Lenders will use the electoral roll to track your history when you move house, but a search can only be run on people - not a particular address - so any previous debts from old owners won't be linked to your file.

From the Mail Online 

Energy Suppliers have been told to Cut Costs for Consumers by Ofgem

The six companies that own and operate Britain's electricity network have to submit their business plans for the next price control period - 2015 to 2023 - to OFGEM for approval.

Only WPD  ( Western Power distribution) has had the current business plan approved by OFGEM, in regard to Electricity. 

Compare 9 Business Electricity suppliers and 11 Business Gas suppliers at Heart Energy 

Insurance Companies have access to driver data

A new system that will allow insurers to access DVLA data on drivers' convictions and penalty points will be tested from February.

The insurance industry says the move will cut the amount of fraud seen under the current system of driver declaration.

Up to 23% of motorists failed to accurately disclose their record to insurers, it has claimed.

Drivers will want to ensure that the new system will lead to lower premiums.

Visit http://heartfinance.co.uk/insurance.html for the best quotes. 

Heart Finance Search Google 1998

Looking through our Web Archives we have found this :

A Retro Google Page Search from 1998 ... Who can remember

one of the first looks of Google ?

Even if we have tried to search for heart finance 

for a bit of fun, obviously we did not have an online presence

at that time, but please visit us now at

www.heartfinance.co.uk  for Loans, Mortgages, Insurance,

Debt Solutions, Energy Savings and much more.