loans

Ask LH: Why Does The Bank Want My Rates Notice?

Hey Lifehacker, I’m in the process of asking my bank for a loan secured against a property I own. I’m wondering: why do they always ask me for my rates notice? What does this tell them? Why would they want that when they can do a simple search and see I own the property in question?


How To Lend Money To A Friend (Without Ruining The Relationship)

We all have them. The one friend who is suddenly in a tight bind and needs to borrow money for unforeseen expenses and needs the money in a hurry. They may not be able to ask family, and instead they come to you in hopes they can get some funds without a fuss.


The 20/4/10 Rule Keeps Your Finances Under Control When Buying A Car

Overextending your bank account when buying a new car can leave you in a lurch if a financial crisis strikes before it’s paid off. Be sure to use the simple 20/4/10 rule to avoid taking on a bigger car loan than you can comfortably absorb within your budget.


Ask LH: Can I Renegotiate My Car Loan?

Dear Lifehacker, I bought a new car last year, and got financed by the dealer at about 6 per cent, which at the time I thought was good. I noticed they are now having a sale with 1 per cent finance. Is it too early to try and renegotiate my loan? Thanks, Over Charged


Ask LH: Should I Get A Credit Card Consolidation Loan?

Dear Lifehacker, I’ve racked up a fair bit of credit card debt, and while I’m slowly paying it off, it’s a pain wrangling multiple bills with different interest rates. My credit union is offering debt consolidation loans with a lower rate than any of my cards — should I take that, use it to pay off all of my cards, and only have one, low-interest bill to pay every month? Thanks, Trying to Dig Out


Ferratum Is An Expensive SMS Lending Service

“Payday loans” — emergency sums to tide you over if you’re short while waiting for your salary — are an expensive way to get money. New operator Ferratum offers a technology twist by incorporating the ability to apply for short-term loans via SMS messages, but the rates remain just as painful.