| Why Use A Fixed Rate? Did you know ... |
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My variable rate is pretty stable, isn’t it?
A Line of Credit is a demand product. This means your bank has the option of increasing your interest rate by any amount, at any time. This is in addition to any increase in the Prime rate which is the base rate for your LOC. ALL Canadian Banks launched Line of Credit re-pricing programs this year. Some banks increased rates by as much as 300 bps.
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| What the Banks don't want you to know about Lines of Credit |
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Today, more than ever, people are tempted to use their Personal Line of Credit (PLOC) for a major purchase. Bad idea! Your PLOC is your security blanket. Don't misuse it!
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| I have the money.. Why should I finance my new toy? |
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| Good question! If you have the money, it maybe in an investment such as the money market, GIC’s, real estate, etc. Today, that investment may or may not be making a big return, but either way is this the best time to cash it in? More... |
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| Financing Your Dream Yacht |
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Cash, personal loan or mortgage? A look at the options. By Rick Francis as published in the February 2006 issue of Pacific Yachting Magazine
Unless you plan to pay cash for whatever boat you buy, you will require some form of financing. If this financing is not available from friends or family, chances are you will be dealing with some type of lending institution. Although some purchasers will obtain pre-approval for the maximum amount they can afford, it's not necessary because most marine sales contracts can be written as conditional on the purchasers obtaining acceptable financing. Here are just a few financing options to consider. More... |
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