If you need a positive
shot in the arm here’s some of the more positive news which is
Let’s hope it makes a
New treatments for critically ill patients to begin trials
Critically ill patients diagnosed
with Coronavirus are to begin trials as soon as next week, says Tom Wilkinson,
professor of respiratory medicine at the University of Southampton. Trials of an experimental
drug that is inhaled to aid the recovery of asthma and chronic obstructive
pulmonary diseased could begin as early as Monday at Southampton General Hospital.
For the first time since the
outbreak began, China has reported no new cases of
Coronavirus. Whilst there have been some new cases in the country, these were
all recent overseas arrivals, which suggests that the strict restrictions that
were imposed have done what was intended and halted the spread of the virus.
The Bank of England recently cut
interest rates to 0.1%, which massively stabilised markets. The BoE governor
Andrew Bailey said on Thursday that the move was to quickly calm markets spooked
by false lockdown rumours in the UK. The interest rate cut will allow
an extra £200bn of quantitative easing funding, and it is expected that other
central banks would soon follow suit.
2 out of 3 borrowers get a lower rate than our representative example of a regulated secured loan below:
Mortgages and Remortgages
£80,000 over 240 months at an APRC OF 4.3% and a discounted variable annual interest rate for two years of 2.12% at £408.99 per month followed by 36 payments of £475.59 and 180 payments of £509.44. The total charge for credit is £39,873 which includes a £995 broker / processing fee and £125 application fee. Total repayable £119,873.
Secured / Second Charge Loans
£63,000 over 228 months at an APRC OF 6.1% and an annual interest rate of 5.39% (Fixed for five years – variable thereafter) would be £463.09 per month, total charge for credit is £42,584.52 which includes a £2,690 broker / processing fee. Total repayable £105,584.52.
£4,000 over 36 months at an APR OF 49.9% (fixed) and an annual interest rate of 49.9% would be £216.21, total charge for credit is £3,783.56. Total repayable £7,783.56.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Written terms available on request. Loans are subject to affordability status and available to UK residents aged 18 or over. Promise Money is a trading style of Promise Solutions Ltd. Promise Solutions is a broker offering products which represent the whole of the specialist second mortgage market and is authorised and regulated by the Financial Conduct Authority – Number 681423.
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