The Governments cuts are sweeping across the country, some announced, some unannounced. My local refuse site is now closed for half the week. Workers have had their wages cut by £90 a week! This will throw their budgets into chaos and they will be looking for ways to save money.

A good place to start to save money is to switch energy suppliers. There are many energy providers and it can be confusing to know which way to turn. Don’t be tempted to sign up with the latest company who knocks at your door; take time to do your own research and be aware that legally a new supplier should first provide you with a quotation showing your projected usage and expenditure. Price comparison sites can be helpful but do be aware that utility companies pay to be featured on these sites and pass these costs on to you the consumer.

One company that you won’t find on any comparison/switching sites is the Utility Warehouse Discount Club. Telecom Plus is a large British PLC (trading as Utility Warehouse) that has been trading for fourteen years. They don’t spend any money on advertising and choose to pass on the savings they make to their customers.
In addition, they are the only energy supplier who offers telephony services as well (home-phone, broadband or mobile). Customers receive one simple monthly bill covering all of the services they use, which makes control of outgoings much easier.
A further option offered by the Utility Warehouse is the Cash Back Card. If you use this card when shopping with their Cash Back Card retail partners, discounts based on the value of your purchases will be applied to your monthly utility bill. What a simple and painless way to reduce your utility costs! The retailers who participate in this scheme include Sainsbury’s, Marks & Spencer’s, Boots, Argos, Comet, Mothercare and there are many, many more, with new names being added all the time, such as Asda from 1st January 2011.
If you are interested, click here, to see which stores already offer discounts to Utility Warehouse customers, by simply selecting ‘Visit the Clubhouse’ in the bottom right hand corner of the screen. Once in the Clubhouse you can look at either our Cash Back Card Partners or if you like shopping online browse through the over 1,500 stores offering discounts to Utility Warehouse customers.
Increase the Income into Your Household
If you are struggling financially another option is to bring additional income into the household to remove the financial stress. However finding traditional employment is not easy given the current economic climate so you may need to ‘think outside the box’. There are a whole host of self employed ‘work from home’ opportunities on the internet which have very low start up costs. Take your time to review these, in particular assess the level of stock you will need to hold (as this can be a hidden cost).
A business opportunity that I chose to invest in, and can recommend, is offered by Telecom Plus (trading as the Utility Warehouse). Telecom Plus has grown from just an idea into a company with a turnover of over £360 million whose shares are traded on the London Stock Exchange – a track record second to none. This phenomenal growth in turnover and profits has been achieved by word of mouth “referral marketing” and its sales team, or distributors, do not need to hold stock to be successful. Anyone who wants to earn money and has drive and enthusiasm can become successful with Telecom Plus.
So how many people do you know who use the phone, switch on a light, turn on the oven or us the internet? The Utility Warehouse is not asking people to spend extra money on services they do not normally use or need, they are simply offering the same services but with one major difference – they offer far better value! You would be tapping into a market where people and businesses are already spending many billions of pounds a year. Every time your customers make a phone call, switch on a light, turn on the heating or surf the net, you would be getting paid. The residual income you build will continue to be paid as long as your customers continue to use these services, and that could be long after you have stopped building your Telecom Plus business!
If this sounds of interest, please click here to understand more about this opportunity.

Francis – May 2011

If you are worried about being late with mortgage payments, or you have repossession worries then you will not be alone. Many people are finding themselves in financial difficulties. If you have any questions please call or email and we will try to help you. You may also find that other people in the same situation can provide support and guidance.
House prices will slump by 20% over the next two years, experts have warned.
The property market is heading for a ‘double-dip’ as rising unemployment and spending cuts strangle demand, according to the analysis. This will mean many more people slide into negative equity.
Interest rates will be increased this year to keep rising inflation in check and higher mortgage costs seem certain to add momentum to plunging property prices.
Not good news if you need to sell your house fast.
Paul Diggle, property specialist at research consultants Capital Economics, said: ‘Prices are trending slowly downwards at the moment, but our view is that this is really the start of the second leg of the correction, and we expect prices to fall significantly further.’
He believes the average home remains up to 20% overvalued – and with the mortgage market still tight and unemployment rising, 2011 could bring prices falling back to earth. Andrew Brigden, of financial research group Fathom, agrees that homeowners can expect a rough ride.
Mr Brigden estimates house prices are 20%, or possibly 30%, too high in relation to average wages.
‘I think the correction will come at some point, even if interest rates stay where they are, but if rates go up, that will hasten it,’ he said.
Higher deposits and tougher credit conditions imposed on potential buyers mean that any boom in demand is unlikely in the immediate post-credit crunch era.
But low property demand is also pointing to falling house prices.
Miles Shipside, director of Rightmove, said: ‘With lenders stating that they expect mortgage lending to remain static at around 2010 levels throughout 2011, and new seller numbers practically unchanged year-on-year, what might have been seen as a passing phase of low transaction levels in the housing market now looks set to be the norm for the foreseeable future.’
He said only around 530,000 mortgages were taken out during 2010, while Rightmove recorded 1.3m properties coming on to the market, highlighting the imbalance between supply and demand which has been putting downward pressure on prices.

Francis – April 2011

Renting will become the norm and indeed the smart thing to do for 20 -30 year olds in 2011.
Ten years ago in certain parts of the country you could buy a 3 bed property for £25k., affordable by, say a secretary earning £7k per year. A mortgage of this size was do-able and affordable for most people. Today, on the other hand, even studio flats are being sold for ridiculous amounts of money and mortgage interest payments are preventing home-owners from having any sort of social life and creating financial difficulties.
Spiralling inflation is making the running of homes very expensive as well. Boilers breaking down the day after you have booked your holidays, leaky flat roofs and dripping taps can all become very annoying. Ongoing costliness can ultimately lead to repossession or a fast house sale.
With the news full of stories of mounting debt, repossessions and negative equity, it is completely understandable that more and more people are turning to renting. The maintenance issues can be resolved by a phone call to your landlord (if you have a good one?).
In an attempt to hold onto their property many people are becoming landlords themselves. This is OK if you are conversant with legislation (If you do not use a deposit scheme you could be fined up to three times the rent!) If you have good people skills and are able to stay calm when dealing with a non paying tenant.
Affordability is not the only issue at the moment. No one is predicting any house price growth this year and it is only a matter of time before we see an increase in interest rates. What that increase will be, again no-one is sure. The economic climate is full of uncertainty. If you need to sell your house fast, there has never been a better time to look at the flexible option of renting a home instead.
If you are intending to rent long term, you could liaise with your landlord to fit a power shower or flat screen TV for a small increase in the rent. Spend the weekend with friends rather than unblocking your u-bend! Home ownership isn’t always what it is cracked up to be!!

Francis – March 2011

Confidence slowly drained out of the property market throughout the whole of 2010 with many people getting into financial difficulties and having to sell their house fast.
Its been a gloomy start to the property year with prices falling on a monthly basis, homeowners trapped in negative equity, repossessions everywhere and estate agents
reporting a further slump in sales.
The chief executive of one of Britain’s biggest building companies described the state of the economy as ‘pitiful’ and warned that we may still face the most challenging downturn in two decades.

People wanting to sell their house due to debt, separation, bereavement or job relocation, but found that they could not, have become ‘accidental landlords’.
Having to then cope with landlord legislation, non-paying tenants and ongoing maintenance can be a nightmare. The cost of letting agents may be too much.
It is clear that UK property remains over valued and needs to be considerably lower. If this were to happen it would mean bad news for homeowners desperate to sell.

The level of property transactions is roughly half the normal level and will continue to fall until houses reach an affordable level.
Homeowners needing to sell their house fast, will find that their local estate agent may not be able to help them.
Some ‘experts’ are predicting a 5% loss (some predict considerably more) in 2011. Add to this inflation at 4% and 1% property deterioration and the downwards trend continues, for now.

Francis – Feb 2011

With unemployment set to rise throughout the year, 2011 forecast’s show a dire future for struggling homeowners.
Many people are finding themselves in financial difficulties through no fault of their own, due to cuts in household income.
The Council of Mortgage Lending has strongly advised people to ‘take control of their finances, as repossessions will rise in 2011′.
They suggest that you ‘focus your efforts on building up a reserve of cash and consider taking on another job’. Easy said!

Having your home repossessed is one of the most devastating things to happen to any family. Selling your house privately for a reduced price may be the only viable answer for those whose mortgage arrears have spiraled out of control.
Although your lender may offer to delay mortgage payments (depending on your track record) or add them to your existing mortgage for a short time or set up a payment plan to run along side your existing mortgage, you will still at some point have to pay all money owing.

There are of course many reason for financial difficulties – divorce, bereavement, job loss and a chain break (when you were hoping to sell your house quickly) but regardless of this,you must always ensure that you pay at least something towards your mortgage every month. This will show your lender that you are committed and so they will treat you more sympathetically and they may even reduce your debt!

You may have no alternative other than to sell your house quickly to a property investor. Selling your house privately could offer you several things your local estate agent could not, such as a fast property sale, a guaranteed sale and if time is not an issue, close to one hundred per cent of the asking price. Check out www.yourlocalproperty.com for more information.

Francis – Jan 2011