Our Review of the Kangaroodle Packaged Bank Accounts Website

Now and again we get sent an email about a new website in the financial niche, and over the weekend got an email from Terry Wright who is one of the Kangaroodle team.  We’ve known Terry for quite a few years now, and know that when he puts his mind to a project is usually very successful – and we think that Kangaroodle is probably set to become his next winner.  The project is a new website focussed on the mis-selling of packaged bank accounts in the UK. 

If you were not aware, this is quite a big piece of news at the moment as many of the high street banks had been in the habit of getting their sales teams to essentially sell packages onto bank accounts that weren’t really needed – it’s a scandal dubbed “mis-sold packaged bank accounts” and looks like it’s set to run and run if the latest news is to be believed.  His new project can be seen on the Kangaroodle website which is still in the early stages, but Terry asked us to review it none the less so who are we to argue?

Kangaroodle Packaged Bank Account Reclaims
The Kangaroodle Website and New Logo Branding

Packaged Accounts Reclaims Champion – a Kangaroo!

So firstly, Terry’s always been brilliant at coming up new brands for companies in the finance sector.  If you recall the campaign for Compare the Meerkat – well, he wasn’t involved in that one, but you can see where he got some of his inspiration for the Kangaroo logo and branding used for this packaged bank accounts reclaims website.  Apparently the idea behind Kangaroodle is to present them as the people’s champion when it comes to packaged bank accounts reclaims – and it does make sense.

If you visit the website you will see the logo quite prominently displayed and Terry tells us that there is a television campaign planned in the pipeline that will feature the kangaroo literally beating up the banks that have been guilty when it comes to mis-sold packaged bank accounts claims and compensation – nice idea Terry!

How the Website Works

On the website it is possible to start up a reclaim on fees incurred with packaged bank accounts simply by completing a form or phoning the telephone number that is very prominent on the homepage and sub-pages on the Kangaroodle website.  When a client or customer gets to the website and picks up the phone they will get put through to a call centre that handles reclaims on packaged bank accounts.  The call centre operatives are very friendly and really know their stuff, and will take the claimant through a process of finding out more about how their bank account was set-up and what potential charges were added that were in effect useless – and were mis-sold to the customer by the bank.

Some of the banks who were most guilty of this are the leading names that you would see on the high street.  Obviously Terry and the Kangaroodle team are not at liberty to divulge exact details on which banks were involved with mis-selling packaged accounts (but for a guess see this list on the Daily Mail), but needless to say, if you live and bank in the UK you will be very aware of which names are involved.

Back to the website though, if you select the mis-sold packaged accounts page you will see that predominantly blue, white, and red colours have been used.  This are great for these kind of websites as they tend to cement an element of trust into the equation which is very important when dealing with financial claims for compensation as the user and claimant needs to be put at ease and to know that they are in good hands – and they for sure definitely are with Kangaroodle.

The Packaged Accounts Reclaim Calculator

Other features on the website include a page where it’s possible to query an online package bank account calculator which shows you how much you could be owed from a compensation claim.  This is very good for casual users who perhaps are not sure if the whole process is worth committing too or not, but in truth they don’t really have much to lose because all they really need to do is phone Kangaroodle to find out if it’s possible or if they are eligible to make a reclaim or not.  You can see all of the features that we are talking about in the screenshots that we have including on this review of Kangaroodle.

In terms of how valuable this new website for packaged accounts could be, it’s our firm belief that reclaims of monies owed from the mis-selling of packaged bank accounts is set to increased month on month and year on year, so by getting in there now Kangaroodle are positioning themselves to be at the forefront of the industry.

Conclusion on Kangaroodle

To conclude, the Kangaroodle brand is set to be part of the UK consumers’ consciousness, just like those meerkats are.  The website is easy to use, it’s backed by a very reputable brand in the market place (The Accident Claimline) and has a large call centre already up and running and ready to take the calls of any consumer that feels they might have a compensation claim possibility.

Whilst it’s still a little bit under development, keep an eye out for a future TV campaign which involves the consumer champion kangaroo and if you are even slightly concerned that you might have been the victim of mis-selling then make sure to give them a call as soon as possible.  Potentially you could be owed thousands of pounds, and it’s not un-heard of for some people’s compensation pay-outs to hit five figures – which could be a great way to pay off some outstanding debt, pay off the mortgage, or take that dream holiday that you and your family deserve this year.

We rate Kangarood’s Mis-Sold Packaged Accounts website a very impressive seven point five stars out of ten and look forward to seeing what Terry and the team have planned for the future – so watch this space!

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What are Bridging Loans and How Should You Use Them? Our Step by Step Guide

A recent award for Bridging ExpertsWhen it comes to the time to sell your home and to move into your new one, then there can sometimes be a time when you have a slight gap in funds available for the purchase. If and when this happens to you, then it’s possible to use a bridging loan to speed up the process and release funds for you a lot quicker.  So what is a bridging loan and how they are used?

To the readers of this blog better understand your options available, we are providing a brief explanation of what bridging loans are and how you can use them to your advantage.

The following explanation comes courtesy of the team at Bridging Experts UK (Loan Brokers) – please visit them if you are based in the UK and need a bridging loan.

Definition of a Bridging Loan

OK so bridging loans are used in both the United States and the UK as a financing option for property sales. In the event that your home is not yet sold (i.e. the sale has not gone through but is agreed) but you have already purchased a new home, you may require a bridge loan. What this does is bridge the gap between your mortgage and the financing of the new property whilst in that short state of limbo before everything goes through. The bridge loan will be secured to the property and can then be used as a down payment for the future home.

For more information and a fuller explanation of what a bridging loan is please see this definition on Investopedia.  Alternatively this video offers a great explanation.

How Do They Work?

This part is somewhat tricky as lenders usually differ when it comes to rules and regulations for bridging loans. Generally, long-term financing is the most crucial part of the loan. The initial mortgage makes little to no difference on the qualification for the bridge loan. The real point of interest for most lenders is the future loan and how adjustments will be made according to the needs of the borrower. Some lenders also exclude bridge loans from the qualification process but others do not. Reasons that a borrower might have both a mortgage payment and bridge payment included in the qualification are:

  • A buyer will close on the new home quickly before selling the existing home
  • If a buyer owns two homes for a short time
  • If they have an existing mortgage

How Interest Rates Compare

Rates of interest on bridging finance options vary greatly. Depending on the lender, a loan might be given out to the buyer at an interest rate of 8.5% with no payments for several months. After that grace period is over the borrower will be expected to make payments on the loan. Once a sale is made the loan will be expected to be paid in full along with the interest incurred during that time.

Conclusion on Bridging Finance

Bridging finance and bridging loans are an excellent way to bridge the gap between your existing home and your new mortgage without concern of a high debt ratio. So if you are in that sticky situation where you need to raise finance quickly, and your standard lender won’t offer a quick loan, then take a look at bridging loans – they could be the answer for you.

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A Guide to No Win No Fee Solicitors

No-one wants to be the victim of an accident, however, it will come as no surprise to find that there is an increase in the number of people suffering from personal injuries who need a to use the services of a no win no fee solicitor. It is often said that most injuries occur within the home, yet when they happen elsewhere and are not your fault, then it is important for you to get the compensation you deserve, and that is where personal injury and no win no fee solicitors come in.

No Win No Fee Solicitors
Make sure they are a member of the Law Society

Taking on a large company in order to claim no win no fee compensation because of an accident, is not something that can be done by oneself, and it is important to have good legal representation. In this article, we will be taking a closer look at why no win no fee solicitors play an important role in getting accident victims the compensation they deserve, and what steps you need to take in order to choose the best personal injury lawyer for your claim.

What is a Personal Injury For No Win No Fee?

A personal injury can be the result of a car crash, a slip, trip or fall, or medical negligence, and in order to make a claim, any physical injuries or mental anguish suffered by the victim need to be proven to be the fault of someone else’s negligence.  This is why it is imperative that you find the very best legal guidance from a bonafide solicitor.

Find a Solicitor that Specializes in No Win No Fee Claims

It may seem obvious, but, many people have let their own personal lawyer take action, and although this can work, there is no substitute for an experienced and qualified personal injury solicitor. A lawyer that is specialized in pursuing personal injury claims will be able to assess your claim, as well as give you an approximate monetary value to the claim and what the best way forward with the claim.

Do They Have Experience in Court?

In the majority of cases, most defendants will want to settle your no win no fee injury compensation claim, by offering you a cash sum. Sometimes things can go the distance, and a case can go to trial. If this scenario comes about, and your no win no fee solicitor has very little experience in the court setting, then this could harm your chances of the case being called in your favour.

If the claim goes to a UK court, the judge will decide if the other party or yourself were the cause of the accident, if it is decided that the other party is liable, then the amount of money that you will receive will be dependent on the type of injury, and the amount of damage it has caused you, as well as the impact the injury had on your day to day life.

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Is a Bridging Loan a Good Option for People Buying a House? What The Guardian Say…

Last week I read a very interesting article on the Guardian website which involved a question and answer session with one of their finance experts on whether or not it was a good idea to use a bridging loan to help the person buy a new house.

The Guardian Website
The Guardian Website

The advice from the Guardian was that a bridging loan, whilst good in practice, probably wasn’t good for the person in terms of being cost effective.  There ultimate advice to the user was that they should sell their current property before getting involved with a new one.  You can read the article in full on The Guardian’s Website.

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Burma Clears Debts to the World Bank Using a Bridge Loan

burmaflagThe World Bank has pledged two billion dollars to Burma in order to help aid the development of the country. More interesting for us here though is the fact that they had already cleared their debts to the World Bank prior to this, with the assistance of a bridging and bridge loan from a Japanese financial lender.

We think this is the first time that we have seen this come into play in global finance deals and arrears. For more information and a full news article please visit the BBC news website and search for bridge loans.

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The Purpose and Strategy Behind Using a Bridging Loan

Bridge loan refers to a form of short-term financial loan. In the UK, bridge loans are better known as bridging loans and the period for which a borrower avails its range from 2 weeks up to 3 years. The other names for bridge loan are caveat loan and swing loan though they are less common used. In most countries and in the UK the market for bridging loans is not regulated and therefore little information is available – we have already previously blogged on the benefits of using bridging loans.

The Purpose of Bridging Loans

The purpose of taking a bridging loan is to meet immediate commitments of a business pending finalising a long-term arrangement for funds. The benefit for the borrower is that it is easier to arrange and is even processed in under 24 hours. Yet another attractive feature of this loan is that borrowers with poor credit standing will also be able to avail it. Bridging loans are inherently risky for the lenders and therefore tend to be more expensive because of the higher interest rates.

In some situations a bridging loan is inevitable. Here are some common reasons to use it.

  1. You have located a good property and you don’t have the means to make a payment because you have not found a buyer for another property you own.
  2. There is a property coming for auction and time is an important factor in acquiring it. You can use bridging loan to make an immediate payment.
  3. You need funds to renovate a property you have just acquired and need money to finance it pending approval of a regular financial arrangement.
  4. A property is available for purchase at below market price and you don’t have sufficient funds in your account to close the deal.

When to Seek Bridging Loans

Property dealers and house buyers are the principal users of bridging loans in the UK. The other uses of bridging loan can be found in businesses, industrial projects, property auctions, property development and house renovation. It is the most sought after method to finance when it is not practical to seek regular bank loans or mortgages because of the time factor involved.

Quick Video Explanation from EHowFinance on How Bridge Loans Work (US Specific)

Have a More Solid Finance Arrangement

It is usual to replace a bridging loan with a more solid financial arrangement after an asset has been acquired using this route. It may also be summarized that bridging loans are not suitable for long-term use due to the higher cost of using it. Invariably commercial concerns liquidate their loans during the currency of the loan itself to save on interest charges.

Have a Fail Proof Strategy to Repay Bridging Loans

When you avail a bridging loan, see to it that you have an exit plan in place. This is important because the means you have arranged to liquidate the loan may not materialize. That means the property you acquire should be easy to sell if the occasion arises. The consequence of failure to repay a bridging loan can be very debilitating – you will possibly lose the upfront money you paid, your property will be repossessed, or worse still the lender may take you to court.

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Welcome to Our New Website

Dear readers, hello and welcome to our new blog.  To avoid any confusion, this website has nothing to do with the old Arger Martucci vineyards – more information on that here.  Instead this is an independent website set up to offer finance and stock market advice.  When we registered the domain we were unaware of it’s history.

So, if you are interested in the world of finance, dealing in stocks and shares, and generally getting ahead financially to make better use of your money, then please make sure you keep coming back here to read our latest insights.  One of our specialities will be bridging loans and what they do.

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The Benefits of Acquiring a Bridging Loan

The first blog post for our new finance blog is about bridging loans.  These are a UK-based financial product which help people and businesses get hold of very quick capital during the period when they are being approved for a standard loan. It lets them bridge that gap and is typically used with real estate and property purchases that need to go through quickly.

Whether you are looking to buy your first home or if you are a business owner looking to acquire property, a bridging loan or commercial bridging loans can be quite advantageous.  The majority of individuals in the UK do not have the finances readily available to purchase property immediately, therefore they will require a secure loan to assist them with the purchase.  There are an ample amount of benefits associated with acquiring bridging finance to help you purchase your home or commercial property.

A bridging loan can be a great stop-back whilst waiting for a loan to come through from a classic lender such as Barclays Bank.
A bridging loan can be a great stop-back whilst waiting for a loan to come through from a classic lender such as Barclays Bank or alternative UK high street lenders.

A Bridging Loan is Faster

One of the largest benefits associated with acquiring a bridging loan is that you can get one far more quickly than if you were to work with traditional loans.  During the time that a traditional loan would take to process, the home or property that you are interested in buying may be purchased by another party.  The reason as to why a bridging loan is faster than a regular home loan is because there are far less qualifications that you will have to deal with.  If you are in a position where you have found the property of your dreams, consider using a bridging loan in comparison to a traditional home loan.

Qualifications and Guidelines

Another benefit associated with bridging finance is that they’re far more relaxed in terms of qualifications and guidelines that you have to meet.  It is common knowledge that if an individual signs up for commercial bridging loans or a regular bridging loan there is a higher likelihood of being granted the money.  Unlike a traditional home loan, these loans are granted by an underwriter based on their own personal judgement.  Another factor to consider is that there is much more leeway pertaining to your debt/income ratio, therefore even those with bad credit may qualify for bridging finance.

Choosing Repayment Options

Having the ability to repay your loan by terms that benefit you the most can be quite advantageous.  Depending on your personal financial situation you can choose to repay the loan before your financing is secured or after.  Your financial advisor will help you to determine which method of repayment would benefit your credit score the most to ensure that you experience more benefits than detriments in regards to receiving a bridging loan.  It is your responsibility to ensure that you make the payments on time to ensure that you remain in good standing with your financial institution.

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