Fixed consumers http://fimendurance.com/ Sun, 08 May 2022 14:18:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.9 https://fimendurance.com/wp-content/uploads/2021/10/icon-5-120x120.png Fixed consumers http://fimendurance.com/ 32 32 Australian families accuse builder of demanding more money after signing fixed-price contracts https://fimendurance.com/australian-families-accuse-builder-of-demanding-more-money-after-signing-fixed-price-contracts/ Thu, 05 May 2022 09:11:00 +0000 https://fimendurance.com/australian-families-accuse-builder-of-demanding-more-money-after-signing-fixed-price-contracts/ Hopeful homeowners fear becoming homeless, after their builder demands more money to complete the job. Oracle Platinum Homes sent price variations to dozens of its customers who thought they were on fixed-price contracts, demanding tens of thousands of dollars to finish their dream home. Olivia Sheppard and her partner invested all of their savings into […]]]>

Hopeful homeowners fear becoming homeless, after their builder demands more money to complete the job.

Oracle Platinum Homes sent price variations to dozens of its customers who thought they were on fixed-price contracts, demanding tens of thousands of dollars to finish their dream home.

Olivia Sheppard and her partner invested all of their savings into buying their first home for their young family.

Oracle Platinum Homes. (A current affair)
Olivia Shepherd. (A current affair)

Related Clips

READ MORE: Australian restaurant with bad manners on the menu goes global

They entered into a fixed price contract with Oracle Platinum Homes in December 2020.

The Logan Reserve home should have been completed in August 2021, but Sheppard said construction didn’t even begin until September.

“It took them 10 weeks to get the engagement approved. They were submitting engineering plans with hand-drawn trees on them, which was the first kind of red flag for us,” Sheppard said.

Olivia Sheppard’s unfinished house. (A current affair)

READ MORE: Bollywood star opens up about radical life change after moving to Australia

Now she has a half-built house, with Oracle demanding $48,000, in an unexpected bill – blaming unpredictable price hikes.

It’s money the young couple simply doesn’t have to hand over.

“I think as first-time homeowners and first-time home buyers, it was supposed to be such an exciting thing and we’re now at the point where we’re actually trying to feel the joy of it, because of disappointment that could be ahead,” Sheppard said.

Nicole Terechow. (A current affair)

READ MORE: ‘I’m backing down’: Struggling Aussies plead for pay rise

Nicole Terechow’s house should also have been completed last year.

She too signed a fixed price contract with Oracle in December 2020.

After months of delays on her project, she went to Oracle headquarters in March this year for a crisis meeting with the company’s director, Tom Orel, where she received a post-it note stating that she now owed an additional $68,000.

“There’s nothing left in the kitty and he just said ‘well you can go to your bank and you can talk to your bank because the equity in the property would have gone up,'” Terechow said.

Nicole Terechow’s unfinished house. (A current affair)
Building and construction attorney Brent Turnbull. (A current affair)

Terechow says she didn’t think Oracle was allowed to ask for more money, on the grounds that they’re facing COVID-19-induced pricing pressure, under the contract she signed.

Now she faces the prospect that her house won’t be finished if she doesn’t pay.

Building and construction lawyer Brent Turnbull said this was a gray area for consumers and the builder and it came down to each individual contract.

“You really have to assess whether there’s a business and practical benefit to potentially, maybe paying the builder a certain amount, just to keep the builder alive and complete your project,” Turnbull said.

David and Karolynn Towerton. (A current affair)

“They kind of have the advantage, unfortunately, that the consumer needs the house to be built and wants the house to be built and they’re able to use it.”

David and Karolynn Towerton are in a similar position.

Their house, however, is complete, but Oracle still demands another $40,000 before handing over the keys.

“The house was deeded to us on certificate, the electrics are in our name, the insurance is in our name, the rates are in our name. He just holds the keys,” Mr Towerton said.

The home of David and Karolynn Towerton. (A current affair)
Russ Stephens is the co-founder of the Association of Professional Builders. (A current affair)

Russ Stephens is the co-founder of the Association of Professional Builders and he said builders across the country are struggling to stay afloat with increased demand, price increases and supply issues.

“The industry was always going to be busy anyway, with or without the landlord subsidy that literally bought burning fuel,” Stephens said.

“We expect to see many more construction companies collapse as the year progresses.”

In a statement to A topical matterOracle defended its actions saying, “Oracle is taking all necessary steps to avoid a situation where they would be forced to abandon builds, which would be even more detrimental to our owners.”

“The last thing we want is to not be able to finish our owners’ homes.”

Oracle Platinum Homes Full Statement – A Current Affair response

What has delayed the construction schedule for some clients’ homes?

The current construction industry environment has been widely publicized, including recent stories on your own Today Show. Please see the link below which discusses well-known supply and trade delays and rate increases.

THE TODAY SHOW – Australian builders forced to close due to staff shortages

Customers we spoke to say they have been impacted by price swings despite having a fixed contract, what is causing the price swings?

As reported by Noel Towell of The Age on 1st May “The Master Builders Association says 98% of its members are seeing their profits cut or losing money as the price of lumber, steel, concrete and other building materials has soared and deliveries are delayed for up to six months.

Wood prices rose by 50-100% last year, steel by 30-60% and concrete by 20-40%, while the war in Ukraine has pushed up the price of wood products from from Russia by 25%. This year.

A critical shortage of skilled tradespeople is also making the crisis worse. »

Oracle absorbed these increases for an extended period and is now asking customers to accept price increases. This decision was not taken lightly and was only made to ensure the continued financial viability of the business.

Customers say the company has no legal right to raise prices based on their contracts, on what legal basis did you hit them with this cost increase?

Oracle sought legal advice before issuing these increases and acted on that advice.

Some customers say they haven’t received any breakdown regarding the additional costs involved, why hasn’t Oracle been able to provide this?

Any customer who requested a breakdown of the increase directly with us received this information in writing.

Was Oracle ill-prepared for the number of customers you got from the homebuilder grant?

What the industry is going through is unprecedented and we believe no one was prepared for the increased demand and cost we are experiencing. When the homebuilder subsidy was introduced, most people in the industry were expecting a severe recession. Instead, we had a boom with now widely publicized price increases and labor shortages. Even the Reserve Bank was caught off guard by rapid inflation.

How Oracle handles issues is an ongoing challenge. We continue to evolve our internal processes, resources, people, businesses and supplier base to meet growing demand.

For example, before the boom, Oracle employed 60 people. At the peak, we did everything we could and grew to over 100 employees, which was more than enough for the sales made.

We had done everything we could to ensure that the request was met.

What happens to people who don’t pay these price changes?

Oracle talks about all the necessary steps to avoid a situation where they would be forced to abandon builds that would be even more detrimental to our owners. The last thing we want is to not be able to finish our owners’ houses.

Oracle is open to negotiations and we are in discussions with several owners. Our priority is to ensure that our owners’ builds are completed as well as protect our business and we are able to stand behind our product and honor our lifetime structural warranty.

What steps is Oracle taking to resolve these disputes with its customers?

Oracle remains committed to working with its customers to help them achieve a positive construction outcome during this difficult time.

We are working on a solution favorable to both our owners and Oracle.

Statement from a CCSB spokesperson:

Queensland’s building regulator has urged homeowners to seek legal advice before making payments outside the terms of a fixed price building contract which are described as ‘contract variations’, in order to ensure that payments are authorized under the contract.

The Queensland Building and Construction Commission – the QBCC – has issued a public warning that some building contractors are asking for additional funds to cover rising material and labor costs.

CCSQ Commissioner Anissa Levy said she sympathizes with builders and homeowners caught up in the current building material and labor shortages.

However, Ms Levy warned that there may be no contractual basis for contractors to seek payment for increased labor and material costs as “contract variations”. under a fixed price contract.

She said parties trying to resolve contractual issues related to material or labor shortages should consider mediation through the expedited builder-consumer dispute resolution framework administered by the QBCC.

Information on the mediation process is available on the CCSQ website.

In images, in pictures

How hypnotism has helped Australians with unique phobias and addictions

See the gallery

]]>
Personal loan rates drop for 3-year fixed rate loans https://fimendurance.com/personal-loan-rates-drop-for-3-year-fixed-rate-loans/ Mon, 02 May 2022 21:51:16 +0000 https://fimendurance.com/personal-loan-rates-drop-for-3-year-fixed-rate-loans/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own. The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (Stock) […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

The latest personal loan interest rate trends from Credible Marketplace, updated weekly. (Stock)

Borrowers with a good credit application personal loans in the last seven days pre-qualified for lower rates for 3 years and higher for fixed rates of 5 years than the previous seven days.

For borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender between April 25 and May 1:

  • Rates on 3-year fixed-rate loans averaged 10.71%, down from 10.94% the previous seven days and 11.48% a year ago.
  • Rates on 5-year fixed-rate loans averaged 13.38%, down from 13.35% the previous seven days and 12.83% a year ago.

Personal loans have become a popular means of consolidate and pay off credit card debt and other loans. They can also be used to cover unexpected expenses like medical billstake care of a major purchase or finance home improvement projects.

3-year fixed personal loan rates have fallen over the past seven days, while 5-year loan rates have increased slightly. Rates for 3-year terms decreased by 0.23% and rates for 5-year terms increased slightly by 0.03%. Borrowers can enjoy interest savings with a 3 or 5 year personal loan now.

Whether a personal loan is right for you often depends on several factors, including the rate you may qualify for. Comparing several lenders and their rates could help you get the best possible personal loan for your needs.

It’s always a good idea to comparison store on sites like Credible to understand how much you qualify for and choose the best option for you.

Here are the latest personal loan interest rate trends from the Credible Marketplace, updated monthly.

Personal Loan Weekly Rate Trends

Trends-pret-personnel.jpg

The table above shows the average prequalified rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to select a lender.

For the month of April 2022:

  • 3-year personal loan rates averaged 10.69%, down from 10.36% in March.
  • 5-year personal loan rates averaged 13.36%, down from 12.73% in March.

Personal loan rates vary widely depending on credit rating and length of loan. If you’re curious about what kind of personal loan rates you might qualify for, you can use an online tool like Credible to compare the options of different private lenders. Checking your rates will not affect your credit score.

All Credible Marketplace lenders offer fixed rate loans at competitive rates. Since lenders use different methods to assess borrowers, it’s a good idea to ask for personal loan rates from multiple lenders so you can compare your options.

Current personal loan rates by credit score

ready-credible.jpg

In April, the average prequalified rate retained by borrowers was:

  • 8.42% for borrowers with credit scores of 780 or higher choosing a 3-year loan
  • 29.46% for borrowers with credit scores below 600 choosing a 5-year loan

Depending on factors such as your credit score, the type of personal loan you are looking for, and the repayment term of the loan, the interest rate may differ.

As the chart above shows, a good credit rating can mean a lower interest rate, and rates tend to be higher on loans with fixed interest rates and longer repayment terms.

How to get a lower interest rate

Many factors influence the interest rate a lender can offer you for a personal loan. But there are steps you can take to increase your chances of getting a lower interest rate. Here are some tactics to try.

Increase credit score

Generally, people with higher credit scores qualify for lower interest rates. Steps that can help you improve your credit score over time include:

  • Pay your bills on time. Payment history is the most important factor in your credit score. Pay all your bills on time for the amount owed.
  • Check your credit report. Check your credit file to make sure there are no errors. If you find any errors, dispute them with the credit bureau.
  • Reduce your credit utilization rate. Paying off credit card debt can improve this important credit score factor.
  • Avoid opening new credit accounts. Apply for and open only the credit accounts you really need. Too many serious inquiries on your credit report in a short period of time could lower your credit score.

Choose a shorter loan term

Personal loan repayment terms can vary from one to several years. Typically, shorter terms come with lower interest rates because the lender’s money is at risk for a shorter period.

If your financial situation allows it, applying for a shorter term could help you get a lower interest rate. Keep in mind that the shorter term doesn’t just benefit the lender: by choosing a shorter repayment term, you’ll pay less interest over the life of the loan.

Get a co-signer

You may be familiar with the concept of a co-signer if you have student loans. If your credit isn’t good enough to qualify for the best personal loan interest rates, find a co-signer with good credit could help you get a lower interest rate.

Remember that if you are unable to repay the loan, your co-signer will have to repay it. And co-signing a loan could also affect their credit score.

Compare rates from different lenders

Before applying for a personal loan, it’s a good idea to shop around and compare offers from several different lenders to get the lowest rates. Online lenders generally offer the most competitive rates and can be quicker to disburse your loan than a physical establishment.

But don’t worry, comparing rates and terms doesn’t have to be a tedious process.

Credible is easy. Simply enter the amount you wish to borrow and you can compare multiple lenders to choose the one that suits you best.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,500 positive Trustpilot reviews and a TrustScore of 4.7/5.

]]>
Now is not the time to switch to a fixed rate mortgage https://fimendurance.com/now-is-not-the-time-to-switch-to-a-fixed-rate-mortgage/ Mon, 18 Apr 2022 07:00:00 +0000 https://fimendurance.com/now-is-not-the-time-to-switch-to-a-fixed-rate-mortgage/ Stop! Yes, the banks’ prime rate rose from 2.4% to 3.2% with the first two benchmark rate increases this year. And yes, we will most likely see another rate hike from the Bank of Canada in June, and that could push the prime rate further, perhaps to 3.7%. It all seems out of control, unmanageable […]]]>

Stop! Yes, the banks’ prime rate rose from 2.4% to 3.2% with the first two benchmark rate increases this year. And yes, we will most likely see another rate hike from the Bank of Canada in June, and that could push the prime rate further, perhaps to 3.7%. It all seems out of control, unmanageable – and it will freak many out.

You are 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized quoteYou will leave MoneySense. Just close the tab to come back.

The truth is that banks are well positioned to take advantage of this type of environment. They will seduce you with a free offer to switch from a variable rate to a fixed rate. They may present you with a five-year fixed rate “offer” of 3.99% that expires in a few days; if you don’t act quickly enough, your rate will drop to 4.14%. They will try to convince you that rates will keep climbing until they hit the moon, and that it would be unwise to pull out a variable rate as we head into a possible recession.

The thing is, the days of locking in a fixed rate are over and the attractive five-year fixed rates of 2.59% to 2.99% are long gone – the train has left the station. Most variable rate holders were able to get discounts below prime of 1% to 1.25% or more, but these discounts are no longer readily available for refinances and conventional mortgage deals. If you already have one of these rates, chances are you have a dinosaur on your hands – it’s on its way to extinction as lenders reduce their discounts. In today’s market, you’re most likely to get a variable rate between prime minus 0.5% and prime minus 0.75%.

So, faced with this difficult situation, what should a variable rate mortgagee do? How to prepare for the expected rise in rates in the next 12 to 18 months?

Coaching variable rate mortgage clients is what I have been doing for over two decades. I am a proponent of the variable rate product and its benefits, and over the years thousands of my clients have saved tens of thousands of dollars in interest charges and reduced amortization by years, that is- ie the length of time they have a mortgage. Many customers were initially determined not to go the variable route, due to persistent myths about it. But over time, they realized how variable rates could work in their favor.

Here are five things to consider before committing to a five-year fixed rate mortgage in today’s environment:

1. Variable rates are always very competitive

If you commit to a five-year fixed rate mortgage in the 3.99% range today, you could end up paying almost double what you would pay with your current variable interest rate. The promise of peace of mind from your friendly neighborhood bank rep sounds great after you’ve been through a few Bank of Canada rate hikes, but chances are a variable rate customer will only pay 1.95% to 2.2% after recent increases. Even with a few more hikes, your variable rate will likely be well below current five-year fixed rates.

2. We are far from pre-pandemic loan rate

In March 2020, the Bank of Canada cut the benchmark policy rate three times due to COVID-19. We saw successive cuts of 0.5% on March 4, 16 and 27, a total reduction of 1.5% in one month, until the reference rate hit an all-time low of 0.25% . Even with the recent hikes, the Bank’s benchmark rate is still 0.75% lower than it was before the pandemic. By extension, the prime rate is also lower than before the crisis. The adjustable rate mortgage was a great option before the pandemic, and it remains so today.

]]>
Fixed 10-year private student loan rates plunge to new record below 5% https://fimendurance.com/fixed-10-year-private-student-loan-rates-plunge-to-new-record-below-5/ Wed, 13 Apr 2022 19:52:06 +0000 https://fimendurance.com/fixed-10-year-private-student-loan-rates-plunge-to-new-record-below-5/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. Credible Market’s latest private student loan interest […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Credible Market’s latest private student loan interest rates, updated weekly. (iStock)

Medium private student loan rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to take out student loans fell for both 10-year fixed rates and 5-year variable rates during the week of April 4 2022:

  • 10-year fixed rate: 4.87%, compared to 5.98% the previous week, -1.11
  • 5-year variable rate: 3.91%, compared to 5.64% the previous week, -1.73

With Credible, you can compare private student loan rates from multiple lenders without affecting your credit score.

10-year fixed and 5-year variable private student loan rates have fallen more than a percentage point since last week. After being quite volatile over the past month, this week’s declines have put 10-year rates at their lowest level since Credible began reporting rates nearly two years ago. Borrowers can take advantage of interest savings now with a 5-year variable rate loan or a 10-year fixed rate loan.

You should always exhaust federal student loan options before turning to private student loans to cover any funding shortfalls. Private lenders such as banks, credit unions, and online lenders offer private student loans. You can use private loans to pay for education and living expenses, which may not be covered by your federal student loans.

Private student loan interest rates and terms may vary depending on your financial situation, credit history and the lender you choose.

Take a look at the rates from Credible Partner Lenders for borrowers who used the Credible Marketplace to select a lender during the week of April 4:

Private student loan rates (diploma and undergraduate)

Student Loan Weekly Rate Trends

Who sets federal and private interest rates?

Congress sets interest rates for federal student loans each year. These fixed interest rates depend on the type of federal loan you take out, your dependent status, and your school year.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. Generally, the better your credit score, the lower your interest rate is likely to be.

You can compare rates from multiple student lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically added to your balance – essentially the cost of borrowing money. Interest is a way lenders make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you originally borrowed (the principal).

Getting a low interest rate could help you save money over the term of the loan and pay off your debt faster.

What is a fixed rate or variable rate loan?

Here is the difference between a fixed rate and a variable rate:

  • With a fixed rate, your monthly payment amount will remain the same for the duration of your loan.
  • With a floating rate, your payments can go up or down as interest rates change.

Comparative purchases for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you will owe over the term of your federal or private student loans.

Once you’ve entered your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the term of the loan, and the total amount you’ll repay.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

]]>
How will the UK’s flat fee system for antibiotics help tackle the growing health crisis? https://fimendurance.com/how-will-the-uks-flat-fee-system-for-antibiotics-help-tackle-the-growing-health-crisis/ Tue, 12 Apr 2022 17:57:30 +0000 https://fimendurance.com/how-will-the-uks-flat-fee-system-for-antibiotics-help-tackle-the-growing-health-crisis/ Health campaigners hope a move by the UK to introduce a fixed-price model for funding the development of new antibiotics will boost global efforts to tackle the growing problem of resistance to existing drugs. The UK is to launch the world’s first “subscription” incentive program for antibiotics, which will pay manufacturers a flat rate for […]]]>

Health campaigners hope a move by the UK to introduce a fixed-price model for funding the development of new antibiotics will boost global efforts to tackle the growing problem of resistance to existing drugs.

The UK is to launch the world’s first “subscription” incentive program for antibiotics, which will pay manufacturers a flat rate for making new drugs available to the NHS, regardless of their quantity or low usage.

The pilot program announced on Tuesday will initially offer Pfizer of the United States and Shionogi of Japan contracts capped at £10 million a year each, to supply a new antibiotic for up to 10 years.

Antimicrobial resistance is a global public health crisis, with drug-resistant bacteria killing more than 1.2 million people a year according to the latest estimate. The causes of antimicrobial resistance are the overuse of antibiotics in medicine and agriculture, and the failure of industry to invest in new products.

How will the subscription system promote the development of new antibiotics?

Existing drug reimbursement systems, which depend on volumes sold, provide little incentive for companies to invest the hundreds of millions of dollars needed to get a new antibiotic through clinical trials and gain regulatory approval.

“When we looked at the antibiotics market, we found that recently introduced drugs only sell for a few tens of millions of dollars a year globally,” said Jeremy Knox, head of infectious disease policy at Wellcome. , the medical charity. “That’s not enough to justify their R&D spending.”

There are several reasons why the revenues of antibiotic producers are relatively low. Antibiotics do not have high prices, with many cheap old drugs on the market; patients receive only short-term treatments; and ‘stewardship’ rules to prevent inappropriate use mean doctors are subject to strict controls when prescribing.

Under the subscription model, companies are guaranteed a higher level of revenue than they would likely make from conventional sales, Knox said, and justify more R&D investment.

You see a snapshot of an interactive chart. This is probably because you are offline or JavaScript is disabled in your browser.

Is a contract worth £10m a year enough to drive more pharmaceutical investment in antibiotics?

The NHS program is just a start that other governments should follow, leading to global action to address antibiotics market failure, said Thomas Cueni, director of IFPMA, the international health body. pharmaceutical manufacturers in Geneva.

He said the UK’s National Institute for Health and Care Excellence (Nice) had led the way with an assessment showing that the two pilot drugs – Zavicefta from Pfizer and Fetcroja from Shionogi – offered sufficient value to justify payments of £10 million a year.

Nick Crabb, who led the Nice assessment, pointed out that the UK accounted for just 3% of the global antibiotics market. If extended globally, the payout would amount to £300million a year.

“We are sharing learnings from this project with international stakeholders and encouraging other countries to offer similar incentives in their own national markets, so that we can collectively gain meaningful incentive for global investment in antimicrobials,” said said Crabb.

Dame Sally Davies, UK Special Envoy on RAM and former Chief Medical Officer for England, said she was encouraged by the growing interest from G7 and G20 countries in funding incentives to the market for new antibiotics. The biggest program will be in the United States if Congress passes the bipartisan Pasteur Act, which could make more than $1 billion in federal funding available per antibiotic.

How will the new regimen affect patients?

Charities and patient groups, such as doctors and pharmaceutical companies, have come out in favor of subscription contracts.

“Companies will no longer have a financial incentive to push sales as high as they can – and stewardship guidelines should mean prescribing is very tightly controlled,” Knox said. “But we don’t want doctors to prescribe the drugs more frequently because they’re considered effectively free at the point of use.”

FT Special Report: The Future of Antibiotics

Many medical experts insist that the new model will not limit the supply of drugs to consumers who need them. “They will make a real difference to patients, in a positive way. No one will be deprived of a medicine they need,” said Professor Colin Garner, chief executive of Antibiotic Research UK.

“Patients with drug-resistant infections are desperate for new treatments – and only the pharmaceutical industry can develop them.”

The NHS and Nice will closely monitor prescribing patterns after subscription contracts come into effect.

What else is needed to fight antimicrobial resistance?

In addition to incentives, such as Britain’s subscription scheme, experts say more funding is needed to seed the discovery of new antibiotics in university labs and biotech companies.

“Cancer gets 20 times more money than RAM, even in the early stages of research,” Garner said. “We need to stop antibiotic resistance from being a Cinderella zone.”

A drive to reduce over-prescribing of antibiotics by GPs is having some effect in the UK, he added, but it would be helped by more incentives for the diagnostics industry to develop rapid tests and accurate in telling doctors if bacteria sensitive to antibiotic treatment are causing an infection.

“We’ve seen during the pandemic how quickly diagnostic tests have been developed for Covid,” Garner said. “We need to take a similar approach for RAM. If a company introduces a new antibiotic, there should be an accompanying test.

]]>
Fixed 10-year private student loan rates fall below 6% https://fimendurance.com/fixed-10-year-private-student-loan-rates-fall-below-6/ Wed, 06 Apr 2022 17:15:14 +0000 https://fimendurance.com/fixed-10-year-private-student-loan-rates-fall-below-6/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own. Credible Market’s latest private student loan interest […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Credible Market’s latest private student loan interest rates, updated weekly. (iStock)

Average private student loan rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to take out student loans fell for both 10-year fixed rates and 5-year variable rates during the week of March 28 2022:

  • 10-year fixed rate: 5.98%, compared to 6.82% the previous week, -0.84
  • 5-year variable rate: 5.64%, compared to 5.99% the previous week, -0.35

With Credible, you can compare private student loan rates from multiple lenders without affecting your credit score.

10-year fixed and 5-year variable private student loan rates fell last week. While 5-year variable rates saw only a slight decline, 10-year fixed rates fell by almost a percentage point. After being quite volatile over the past month, this week’s declines have put 5-year variable rates at their lowest level in three weeks. Borrowers can take advantage of interest savings now with a 5-year variable rate loan or a 10-year fixed rate loan.

You should always exhaust federal student loan options before turning to private student loans to cover any funding shortfalls. Private lenders such as banks, credit unions, and online lenders offer private student loans. You can use private loans to pay for education and living expenses, which may not be covered by your federal student loans.

Private student loan interest rates and terms may vary depending on your financial situation, credit history and the lender you choose.

Take a look at the rates from Credible Partner Lenders for borrowers who used the Credible Marketplace to select a lender during the week of March 28:

Private student loan rates (diploma and undergraduate)

Student Loan Weekly Rate Trends

Who sets federal and private interest rates?

Congress sets interest rates for federal student loans each year. These fixed interest rates depend on the type of federal loan you take out, your dependent status, and your school year.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. Generally, the better your credit score, the lower your interest rate is likely to be.

You can compare rates from multiple student lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically added to your balance – essentially the cost of borrowing money. Interest is a way lenders make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you originally borrowed (the principal).

Getting a low interest rate could help you save money over the life of the loan and pay off your debt faster.

What is a fixed rate or variable rate loan?

Here is the difference between a fixed rate and a variable rate:

  • With a fixed rate, your monthly payment amount will remain the same for the duration of your loan.
  • With a floating rate, your payments can go up or down as interest rates change.

Comparative purchases for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you will owe over the term of your federal or private student loans.

Once you’ve entered your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the term of the loan, and the total amount you’ll repay.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

]]>
Launches DeFi Fixed’s first automatic staking https://fimendurance.com/launches-defi-fixeds-first-automatic-staking/ Sat, 02 Apr 2022 12:05:00 +0000 https://fimendurance.com/launches-defi-fixeds-first-automatic-staking/ Clerklands, UK – (Newscall PR – April 02, 2022) – ASTAKE is a DeFi development company building next-generation products and services. Their AAP (Astake Auto-Staking Protocol) is the basis for a series of DeFi 2.0 projects starting with the $ASTAKE token which is automatic staking and compounding in your wallet, and offers an industry best […]]]>

Clerklands, UK – (Newscall PR – April 02, 2022) – ASTAKE is a DeFi development company building next-generation products and services. Their AAP (Astake Auto-Staking Protocol) is the basis for a series of DeFi 2.0 projects starting with the $ASTAKE token which is automatic staking and compounding in your wallet, and offers an industry best fixed 614,917.56% APY. Astake develops projects, products, and protocols that bring cutting-edge benefits to holders of its $ASTAKE utility token.

DeFi has caused a stir among savviest investors, with most agreeing that it has offered some of the richest opportunities in a revolution of sorts and that cryptocurrency has made more millionaires in the past decade than ever before. .

By far, DeFi favors becoming the easiest and most agreed-upon way to make your money work for you in an environment where cryptocurrency holders can lock or stake their tokens and receive higher interest rates than most. thoughts were unrealizable. The tools that DeFi companies use to create these high returns are financial algorithms and token staking strategies called protocols which are made up of Smart-Contracts.

Defi 1.0 introduced several versions of these protocols that attracted billions of dollars in capital and subsequently built many of the most successful brands in crypto. DeFi 2.0 protocols promise token holders greater levels of simplicity and security, and increased fixed returns through staking.

Astake developers have introduced the Astake Auto Staking Protocol (AAP), a DeFi 2.0 protocol that provides a decentralized financial asset, which rewards users with a sustainable fixed compound interest model through the use of its unique proprietary protocol .

AAP (Astake Autostaking Protocol) – Highest Fixed APY

AAP offers tokenholders simplicity, security, and a constant fixed high-yield return of 614,917.56% APY from their stake. It is used in the $ASTAKE token, giving it these industrial advantages:

Low Risk – Insurance Fund (AIF)

3% of all trading fees are stored in the ASTAKE Insurance Fund which helps maintain and sustain staking rewards by maintaining price stability and significantly reducing downside risk.

Cash

The Treasury plays a very important role in Astake’s AAP protocol. It provides three extremely critical functions for the growth and sustainability of ASTAKE.

The Treasury works as an additional financial support for the FIA. This additional support can become important in the event of an extreme drop in the price of the $ASTAKE token or an unforeseen black swan event. It is useful to establish a floor value for the $ASTAKE token. 1-3% of all trading fees are stored in the Treasury.

Cash can also be used to fund new ASTAKE products, services and projects that will grow and bring more value to the ASTAKE community, as well as fund marketing.

Astake’s Automatic Liquidity Engine (AALE)

Every 24 hours, our Astake Automatic Liquidity Engine (AALE) will automatically inject liquidity into the market. On every buy or sell order, there is a 3% tax fee which is automatically stored in an Auto-LP wallet and integrated into our protocol’s smart contract is the mechanism that intelligently takes 50% of the amount of ‘ASTAKE stored in the wallet, and will automatically buy BNB at the current market price.

The remaining 50% of ASTAKE in the Auto-LP wallet will be used for the ASTAKE side of the liquidity, giving an equal 50/50 weighting of ASTAKE/BNB which will then be automatically added as additional new liquidity in the pair market and increase the amount of liquidity in the pool.

AALE will do this every 24 hours adding more and more liquidity to the pool, allowing $BUY token holders to easily sell their tokens at any time with little to no market slippage. This will also help maintain protocol stability to ensure the APY is maintained for the lifetime of Astake.

Hearth: automatic token burning

One of the interesting features of the ASTAKE protocol is an automatic token-burning system called “The Fire Pit”, which prevents the circulating supply from spiraling out of control and becoming unmanageable. The Fire Pit burns 1% of all sales from the $ASTAKE Token market.

Staking – easy and safe

The ASTAKE token always stays in your wallet; it does not need to be entrusted to a third party or a centralized authority. All you have to do is BUY AND STORE as you automatically receive rewards in your own wallet so there are no more complicated wagering processes.

Prompt payment of interest

the STAKE The protocol pays each ASTAKE token holder every 10 minutes or 144 times per day, making it the fastest autodial protocol in crypto.

vision mission

Our mission and vision is to revolutionize the reward generation mechanism with our first-ever unique protocol that has advanced profitability. ASTAKE Finance is equipped with innovative technologies and features that other forks lack. Our goal is to provide a protocol for automatic staking and multiplication of rewards in the crypto space. The ASTAKE is the future of the traditional staking system.

Official links:

Website: https://astake.finance

Twitter: https://twitter.com/atake_finance

Telegram: https://t.me/astake_finance

Medium: https://astake.medium.com/

Discord: https://discord.gg/XNfDwv76ca

Reddit: https://www.reddit.com/r/ASTAKE_FINANCE/

GitHub: https://github.com/AstakeFinance

Email: info@astake.finance

Warning:

The information provided in this press release is not investment advice, financial advice or trading advice. It is recommended that you exercise due diligence (including consulting a professional financial adviser before investing or trading in securities and cryptocurrencies.

]]>
Octopus Energy landline plan syncs with US smart home devices https://fimendurance.com/octopus-energy-landline-plan-syncs-with-us-smart-home-devices/ Thu, 24 Mar 2022 07:00:00 +0000 https://fimendurance.com/octopus-energy-landline-plan-syncs-with-us-smart-home-devices/ Renewable energy retailer octopus energy launched Intelligent Octopus in the US, an integrated demand response that offers customers a fixed rate plan to help balance the grid when power demand is high. By signing up for Intelligent Octopus, customers can reduce their energy consumption during peak demand to avoid system outages. Specifically, Intelligent Octopus enables […]]]>

Renewable energy retailer octopus energy launched Intelligent Octopus in the US, an integrated demand response that offers customers a fixed rate plan to help balance the grid when power demand is high.

By signing up for Intelligent Octopus, customers can reduce their energy consumption during peak demand to avoid system outages. Specifically, Intelligent Octopus enables customers to automate energy consumption and save money by prioritizing energy efficiency and network resiliency.

Intelligent Octopus will pair directly with smart home devices. With today’s beta launch, Intelligent Octopus customers can connect their smart thermostats to Octopus Energy’s system that monitors network activity.

When demand on the network increases, Octopus Energy adjusts registered customers’ thermostats in 5-15 minute increments to reduce power consumption, after which customers’ smart home products are adjusted back to their original settings. This helps reduce demand on the network as it approaches its peak and rewards customers for helping balance the network with a lower priced product.

Intelligent Octopus is powered by Octopus Energy’s exclusive Kraken technology which uses advanced data and machine learning to automate the majority of the energy supply chain. This capability allows customers to access electricity when it is cheaper and greener, while helping to balance overall grid stability. Intelligent Octopus will also expand to other smart home devices and vendors in the coming months.

AI and ML platform helps balance the grid and improve energy efficiency through intelligent demand

“Too often, the energy industry focuses only on supply solutions, such as building more power plants or transmission lines,” said Michael LeeCEO of Octopus Energy US.

“This strategy is not only inefficient, it is also extremely costly. Energy retailers leading the future of the industry will focus on empowering consumers to strengthen our energy systems and create innovative new products that enable a balanced grid through smarter demand. With Intelligent Octopus, we’re making it easier than ever to engage consumers with their energy use while rewarding them for taking positive action to maintain the grid for themselves and their neighbors.

Today, less than 2% of customers participate in demand response programs in Texas. Indeed, consumers find themselves with a status quo where most energy suppliers prioritize profit over quality of service.

Traditional energy providers are taking an approach that leaves consumers with unexpected price hikes, confusing bills and limited communication channels despite the energy that powers our daily lives.

These energy players have also resisted modern technological innovations that can dramatically improve customer experience, increase energy efficiency and enable a stronger grid. Unlike these players, Octopus Energy is built on an artificial intelligence and machine learning platform that streamlines energy services and provides its consumers with transparency of their energy bills and usage.

Intelligent Octopus further expands Octopus’ offerings and is one of the very first demand response plans in Texas that rewards registered customers for helping balance the network.

]]>
Private 10-year fixed-rate student loans continue 4-week downward trend https://fimendurance.com/private-10-year-fixed-rate-student-loans-continue-4-week-downward-trend/ Wed, 23 Mar 2022 19:15:21 +0000 https://fimendurance.com/private-10-year-fixed-rate-student-loans-continue-4-week-downward-trend/ Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own. Credible Market’s latest private student loan interest rates, updated weekly. (Stock) Average private […]]]>

Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders, all opinions are our own.

Credible Market’s latest private student loan interest rates, updated weekly. (Stock)

Average private student loan rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to take out student loans fell for 10-year fixed rates, while 5-year variable rates jumped in the week of 14 March 2022:

  • 10-year fixed rate: 5.35%, compared to 5.82% the previous week, -0.47
  • 5-year variable rate: 6.61%, compared to 3.29% the previous week, +3.32

With Credible, you can compare private student loan rates from lenders without affecting your credit score.

10-year fixed-rate private student loan rates fell this week, while 5-year variable rates rose significantly. While fixed rates have steadily declined for four consecutive weeks, variable rates have been more volatile. Last week, the Federal Reserve raised its benchmark federal funds rate, which likely influenced the increase in variable student loan rates. This week’s declines put 10-year fixed rates at their lowest levels since early August 2021, while 5-year floating rates are at pre-pandemic highs. Borrowers can take advantage of interest savings now with a 10-year fixed rate loan.

You should always exhaust federal student loan options before turning to private student loans to cover any funding shortfalls. Private lenders such as banks, credit unions, and online lenders offer private student loans. You can use private loans to pay for education and living expenses, which may not be covered by your federal student loans.

Private student loan interest rates and terms may vary depending on your financial situation, credit history and the lender you choose.

Take a look at the rates from Credible Partner Lenders for borrowers who used the Credible Marketplace to select a lender during the week of March 14:

Private student loan rates (diploma and undergraduate)

Student Loan Weekly Rate Trends

graphic-credible-32322.jpg

Who sets federal and private interest rates?

Congress sets interest rates for federal student loans each year. These fixed interest rates depend on the type of federal loan you take out, your dependent status, and your school year.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. Generally, the better your credit score, the lower your interest rate is likely to be.

You can compare rates from multiple student lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically added to your balance – essentially the cost of borrowing money. Interest is a way lenders make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you originally borrowed (the principal).

Getting a low interest rate could help you save money over the life of the loan and pay off your debt faster.

What is a fixed rate or variable rate loan?

Here is the difference between a fixed rate and a variable rate:

  • With a fixed rate, your monthly payment amount will remain the same for the duration of your loan.
  • With a floating rate, your payments can go up or down as interest rates change.

Comparative purchases for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you will owe over the term of your federal or private student loans.

Once you’ve entered your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the term of the loan, and the total amount you’ll repay.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

]]>
Buy-to-let lenders raise mortgage rates on cheapest fixed deals https://fimendurance.com/buy-to-let-lenders-raise-mortgage-rates-on-cheapest-fixed-deals/ Wed, 16 Mar 2022 12:25:53 +0000 https://fimendurance.com/buy-to-let-lenders-raise-mortgage-rates-on-cheapest-fixed-deals/ Annual mortgage costs for buy-to-let owners have risen by nearly £500 in as little as three months, new research shows. Since early December, the average two-year fixed contract for an owner with 40% deposit or capital has increased by 0.3%, from 1.76% to 2.06%. The rate hikes are fueled in part by the Bank of […]]]>

Annual mortgage costs for buy-to-let owners have risen by nearly £500 in as little as three months, new research shows.

Since early December, the average two-year fixed contract for an owner with 40% deposit or capital has increased by 0.3%, from 1.76% to 2.06%.

The rate hikes are fueled in part by the Bank of England’s decision to hike the base rate, first in December from 0.1% to 0.25%, then last month from 0.25% to 0.5%.

Homeowners are facing increases of up to £41 a month as the cost of buy-to-let fixed rate mortgages rises following the two recent base rate changes.

The Bank’s monetary policy committee is due to meet again on Thursday and could decide to raise the base rate further, with owners warned to expect further rate hikes.

Mortgage broker Property Master’s latest buy-to-let tracker analyzed 30 lenders, representing around 75% of total rental mortgages.

He said the 0.3% increase in two-year fixed rates would add an extra £41 per month or £492 per year to mortgage payments, for a homeowner with a £160,000 mortgage on an interest-only deal .

The increase was less severe for those opting for five-year fixed rate contracts.

According to Property Master, a typical five-year fixed rate rental mortgage covering 60% of a property’s value increased by 0.25%, from 1.98% to 2.23%.

For someone only paying interest on a £160,000 mortgage, that would equate to an extra £33 a month.

The cost of a standard variable rate (SVR) mortgage now stands at an average of 4.99%, also up 0.25% since the Bank of England raised the base rate for the first times in December.

Angus Stewart, Managing Director of Property Master, said: “Our team has had one of the busiest weeks ever to ensure our search systems are up to date with all the recent activity in this market. .

“Entire product lines have been pulled, then relaunched, by multiple lenders, but the result has generally been to increase the cost to owners.”

And things would have to get worse for owners before they get better.

“We are now in a rising interest rate environment and most commentators are expecting another rate hike next week when the Bank of England meets again on Thursday,” Stewart added.

“With inflation continuing to rise, exacerbated by global events, we expect further increases in base rates over the past few months.

“We can already see lenders preparing to raise rates again, further tightening the pressure on consumers and homeowners.”

Owners are encouraged to plan ahead and set their next deal

Homeowners coming to the end of their fixed rate contract, or on an adjustable rate or tracker mortgage, are encouraged to remortgage as soon as possible to limit the damage.

Mortgage deals are usually valid for three to six months, so fixed-rate homeowners can arrange to renew and lock in a rate at current rates before their current contract expires.

Despite rising averages, the best buy rates are still relatively low.

With further base rate hikes expected, buy-to-let interest rates are expected to continue to rise.

With further base rate hikes expected, buy-to-let interest rates are expected to continue to rise.

The lowest rate for a two-year fixed lease-purchase agreement for a mortgage covering 60% of the value of the property is currently 1.09% offered by The Mortgage Works.

While its pricing might be attractive, it also comes with a hefty extra charge of £4,239.

Someone with a £160,000 interest-only mortgage could expect to pay £150 every month if they add the fees to the mortgage.

However, that would mean they had added an additional £4,239 to the amount of their existing mortgage that would eventually need to be paid off.

Owners may be able to find a higher rate with a lower fee, or no fee, which would be cheaper overall.

> Compare rates and fees using the This is Money Mortgage Calculator

Chris Sykes, Mortgage Consultant at Private Finance, said: “Lenders tend to assess rate hikes before the base rate hike happens, which is why we’ve seen rates rise steadily over the over the past few weeks.”

“We suspect that the base interest rate will continue to rise given the dramatic inflation rates, and this will continue to have an upward impact on mortgage rates across the board.

“That said, there are some incredibly good rates on the market right now. However, the best available rates charge a 2% arrangement fee and therefore may not be the best rate for potential borrowers, so always consider the additional fee when making your decision.

For anyone with a mortgage due this year, the advice is to start looking for a new deal as soon as possible.

Mark Harris, managing director of mortgage broker SPF Private Clients, said: ‘Most homeowners have fixed rates, so any payment shock will come after those deals expire, when they find it will cost them more to remortgage on another product.

“Homeowners due to remortgage this year should plan six months ahead. Write down the end date of your existing deal, then start looking for a new deal up to six months before that, as many lenders will allow you to book a rate up to six months before you need it.

“Anyone whose rates mature in September and before should look now, preferably by consulting a broker.”

Do I have to pay prepayment charges and remortgage now?

With mortgage products lasting only a few days in some cases, borrowers fear they will miss out on the best fixed deals if rates continue to climb.

It’s essential to know exactly when your current contract ends, because leaving a fixed rate mortgage too soon can lead to prepayment charges of up to 5% of the total amount.

It may not be as simple as being exactly two or five years into the mortgage.

Some lenders, such as Nationwide, will fix for a number of years from the start date of the mortgage – also known as the completion date.

However, many fixed rate offers are fixed on a certain date, so you may find more or less time than you originally thought to fulfill your mortgage.

You can find this date on your mortgage offer letter or by contacting your lender. A mortgage broker should also be able to advise you on this.

Once you know this, you can plan to apply up to 6 months before your current contract expires.

However, if you’re currently on a fixed-rate mortgage and the deal doesn’t end for a year, you might be considering switching anyway.

The problem here is that you might be hit with prepayment charges.

Most fixed rate transactions come with a prepayment charge, which often ranges from 1-5% of the outstanding mortgage amount.

In some cases, the amount decreases as the mortgage transaction nears completion.

For example, while in the first year of a five-year mortgage contract, you may be slammed with a 5% charge, however, if you are in your final year, you may only be subject to a 5% charge. 1%.

Whether or not it’s financially prudent to absorb a prepayment charge to take advantage of current rates depends on your situation.

For example, how much would the prepayment charge be, your thoughts on medium and long-term interest rates, and how long you expect to own the property, etc.

buy to leave best buys

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any business relationship to affect our editorial independence.

]]>