What to do When Your Boiler has a Breakdown

English: Condensing Boiler Exaust (Photo credit: Wikipedia)

Would you know what to do if your boiler suddenly broke down leaving your home without heat or hot water?

The short answer is probably not but here’s a quick guide to some things that you can do to help avoid the worst should this happen.

• Firstly, a boiler service every year is a must as this will highlight any problems, or potential problems and help ensure that the boiler is in tip top condition.
• Learn how to relight the boiler manually if the pilot light has gone out. This will save you calling out a heating engineer for a boiler breakdown.
• Many calls for boiler breakdowns are found to be because the gas and electric supply has stopped working for some reason or the boiler itself has been switched off!
• Read the user guide for your boiler and central heating system to ensure you know what to do in an emergency.
• If your boiler is working, check whether your thermostat temperature has been turned down too low and learn how to bleed radiators.
• It’s also important to lag pipes to help prevent a condenser boiler from freezing.
• The drop in water pressure can also lead to combination boilers failing but this pressure can be increased manually.

For anyone with an old boiler, it might be time to invest in a new one as they are more efficient and should save money every year on fuel bills. Heating supplies website Plumb Nation estimates that by investing in a high-efficiency, A-rated condensing boiler, a household could save around £225 a year on their heating bills!

Why a boiler service every year is vital

However, the most effective tactic that a household can undertake is to carry out an annual service of the boiler. Many Home Plan providers, such as Corgi HomePlan, will undertake this on an annual basis as part of their package.

Indeed, even the consumer champion Which? says that getting a good boiler service is vital to ensuring the proper performance of a boiler when it is needed most.

The Which? website even has a very helpful video detailing what a householder should expect from their annual boiler service and a very good page on paying for service contracts and what they involve.

According to Which?, the average cost of a boiler service is £63, though this amount varies greatly depending on where you are living in the UK.

The bottom line from their report is that people will inevitably save money by having a regular boiler service with people responding to the survey confessing that they enjoyed the peace of mind that came with having a Home Plan policy, such as one of those from Corgi HomePlan, which has this service included in the monthly premium.

Boiler services are often included in Home Plan policies

Some plans providers have varying levels of packages for boiler breakdown cover which also includes the heating controls and the central heating system.

It’s this message that prevention is always better than the cure is also underlined by the gas industry itself.

Those responsible for gas safety insist that having a boiler service at least once a year will help improve its condition and improve energy efficiency. Anyone who needs to find a contractor to undertake a boiler service should contact the Gas Safe Register.

The message from the heating and gas industries is that even if you don’t believe that a HomePlan, even the modestly priced packages, are for you then an annual boiler service is the very least a homeowner can do to ensure that the boiler will work through a harsh winter and not let them down.

The Busy Person’s Guide to the Autumn Statement 2013

On Thursday 5th December the Chancellor George Osborne revealed the Government’s plans for the next few years in his 2013 Autumn Statement. While in recent years these statements have been the source of much doom and gloom, this one was somewhat of a breath of fresh air.

The statement comprised of a variety of sections including tax, pensions, transport, housing and employment. Throughout this article we are going to break down each of the sections and give you a brief overview of the most important aspects of the statement. 

Tax

As of April 2014 the personal tax allowance will increase to £10,000 meaning you’ll be able to earn an additional £560 more per year without being taxed. The higher rate (40%) tax threshold will also be increasing 1% in 2014 and 2015.

The good news doesn’t stop there; the government have asked Local Authorities to freeze council tax rates in 2014. Naturally, it is up to the Local Authorities to decide whether or not they adhere to the government’s request however there is currently no evidence to suggest that they won’t. The chancellor also revealed plans to crackdown on tax evasion, avoidance and fraud which will raise £9bn over the course of the next 5 years. 

Pension

Unsurprisingly (due to the growing life expectancy in the UK) the state pension age is set to increase to 68 in the mid-2030s and again to 69 in the mid-2040s.

This was greeted with news that the basic state pension will increase 2.7% as of April next year. Unfortunately though having broken this 2.7% increase down, it only converts to £2.95 per week! 

Transport & Motoring

The stand-out news in the transport section of the Chancellors statement is that the scheduled 2p per litre rise in fuel has been scrapped; news that has been welcomed by motorists nationwide.

It was also revealed that the old fashioned paper tax disks will be replaced with an online system from October of 2014. This also opens up the chance to pay tax via monthly direct debit along with the traditional annual or biannual payments. 

Housing

The housing section was largely dominated by the Help to Buy scheme and the Governments plans to push renewable energy in the UK.

The chancellor echoed the Prime Ministers praise for the Help to Buy scheme and announced the mortgage providers Virgin and Aldermore will be joining the scheme later this month. This was accompanied with news of a £1billion funding line to help ‘stalled housing developments’ move forward; ultimately increasing the amount of new builds available.

In a hope to boost the amount of homes employing renewable energy sources the government is launching various grants and schemes. They are firstly looking to offer £1,000 energy efficiency grants for home buyers which will be available subject to passing home inspections. They will also be targeting private landlords by offering various incentives to improve the efficiency of their properties. 

Employment & Education

In a hope to further boost employment rates, the Government is targeting school leavers and young adults by offering various schemes to help them get their foot in the door.

The first is a scheme in association with Job Centre Plus that looks to help those with few qualifications get on the employment ladder. Alongside this 20,000 more apprenticeship opportunities will also be created in the next two years.

The Chancellor also announced plans to put a stop to those spending large amounts of time on unemployment benefits. These plans state that 18 to 21 year olds will face losing their benefits after 6 months if they don’t take a work placement. 

Conclusion

As you can see the general outlook is positive. When you pair this with the fact that growth is up, employment is up and the deficit is down – the next few years could bright for the UKs economy.

This article has been written by Jason Scott on behalf of UK Credit Limited. For more up-to-date finance related news and guides visit https://www.guarantorloansonline.co.uk/Blog.

How to Get Money Loans for Emergencies

Everyone must have a bad moment when there is no money in the pocket while some bills, debts, and daily necessities are piling up. There will be many ways can be taken to support the financial trouble such as applying bank loan or looking for part time job but are those able to support your need in quick time? 

Applying bank loan needs some complicated procedure and the money will not be cashed out as soon as possible while looking for side job or part time job will waste your time moreover when the salary will be pain weekly or monthly. The most effective way to solve the urgent money problems that can be considered is by applying the online loans. The money loans for emergencies will help supporting the temporary money problem while waiting for other income. 

Some benefits of borrowing money from online loan service are:

The quick process of application

The online loan companies are designed to provide as simple as possible procedure and as fast as possible cashing out process. The application will be done in less than minutes and the money will be transferred soon to the bank account.

The simple requirements

As long as the borrower has the simple requirements such as has regular income, has reached over 18 years old and having valid bank account, those all are enough to get the loan in which certain requirements depend on the companies.

The all acceptance of any credit ratings

Any credit ratings will not be problem as long as the borrower is able to fulfill the requirements and rules. The main goal of online loan companies is to provide the money as soon as possible and help people solving the financial problem.

Instant cash out

After filling the application form and get approval in really quick time, money will be in the bank account within 1 hour or less so that the borrower can quickly pay the urgent bills or other expenses.

The security of the personal data

The personal data that are provided by the borrower are guaranteed to be safe and secure.

The online loans are very suitable to solve any urgent expenses and support the broken financial condition such as paying the bills, paying the monthly car insurance, having extra cash for the holiday, and supporting the daily needs before the next paycheck. However, the money management is needed for everyone but sometimes; the bad time will come unexpectedly and make all money planning in a mess condition in which makes someone get into trouble. 

Besides that, when someone has money problem, it will place them in a dilemma

situation whether borrowing money from friends, parents or family or applying bank loan with complicated requirements and the both ways will not have warranty that they can get the money fast or even they can have no result and their efforts will be in vain. Online loans is something which can help your financial problem and guarantee you in getting the money you need as long as the requirements fulfilled and your effort will not be in vain.

Understanding the Process of Peer to peer Lending

Loans (Photo credit: zingbot)

With economic sanctions making their way throughout the world, securing a loan, the normal way is not easy. Banks throughout the world have been finding it difficult to give loans to people who have a perfect credit rating.

In case, you have low or average credit rating, securing a loan gets all the more difficult. All these complications and difficulties have led to the evolution of social lending.

Social lending is a lending system which is moderated through internet. Consumers in social lending process borrow money from other people.

Online Social Lending Clubs

• Each new member can register as a borrower or lender in these online social lending clubs.
• Lenders can choose their distinct interest rates while offering loans.
• Lenders make good returns on these online social lending clubs.

Those interested in borrowing from these online social lending clubs are drawn to these peer to peer lending sites as they offer easy loans. However, the annual interest rates can be extremely higher and can go up to 35%.

For those who have a good credit history, peer to peer lending sites is a great way of securing short term loans. Much time is saved as the tedious process of going through the general banking procedures while securing a loan need not be observed.

The popularity of online social lending clubs can be gauged from the fact that these sites have been able to finance half a billion dollar loan in past several years. According to a report published in Slate Magazine, the popularity of these sites continues to grow with each passing year and they have successfully accomplished their real objective.

History of Lending Clubs

Lending clubs own their existence to micro lending movement and the current economic scenario has fuelled the success of these clubs. Most of these lending clubs have come up in recent times.

Entrepreneurs in third world countries have benefitted from social lending site Kiva.org which was the first one to make its presence felt in the business. The site came up with the idea of offering money to the borrowers and to support them in the need of their hour.

Loan Application Process

Peer to peer loans can be sought easily from these lending clubs. A borrower only needs to fill in an application on the lending club’s website. A distinct advantage of using this service is that the borrower will be notified immediately about the interest rate at which the loan would be available.

Investors who wish to offer this loan have a two week’s time to complete all the formalities. As the loan gets funded, the amount is transferred to your account. The first payment on the borrowers part is made a month after the processing of the loan.

All the associated paperwork is managed by the lending club and this makes the repayment process extremely easy to manage. A few states however, have regulatory sanctions in place which restrict the lender from investing money in these sites.

Crosschecking before making investments will work to your advantage and you will reap benefits in the long run.

Are Health Savings Accounts the Next Retirement Plan?

retirement (Photo credit: 401(K) 2013)

It is no secret that end of life care consumes the majority of health care dollars. In fact, about 80% of all money spent on health care is spent during the last two years of a person's life. The problem with this is that many people have exhausted savings and sold off assets by that point to afford care. Health savings accounts (HSAs) may provide a solution to the problems of health care expenditures in old age. In some ways, they are like a retirement plan for your health needs. 

Qualified Expenses

HSAs, such as those offered by HSAforAmerica.com, are health care plans that provide tax benefits. In essence, as long as the money that is put into an HSA is spent on health care, it is tax free. This feature of HSAs has led many to compare them to individual retirement accounts (IRAs) and other tax-advantaged retirement plans. In truth, HSAs are even better than most IRAs because while HSA monies are guaranteed never to be taxed if spent on health care needs.

Qualified expenses can include a number of things that might traditionally be thought of as lodging. For instance, nursing home and retirement community expenses are completely covered so long as the individual lives in the facility due to medical necessity. Even hotel stays, home improvements, care equipment, alternative medicine, certain types of furniture, and more are covered if necessary for medical care. That means that room, board, transportation, and meals can be paid for, tax free, from HSA savings.

Essentially, the HSA offers a true tax free way to save for retirement. Though it may seem like a gimmick, the truth is that it is cheaper to pay for end of life care through an HSA than through Medicare or traditional insurance. HSA money is simply earnings that have been set aside over time. The best way to look at an HSA as encouragement to save for retirement, something everyone ought to be doing anyway.

As a final note, at age 65, HSA money can be withdrawn for non-medical purposes without penalty. Though you will pay tax on the money, it works just like an IRA, so the tax rate is lower than for other types of income. That means that an HSA is probably a better safety net for most people than an IRA due the flexibility that an HSA offers.

How to Treat an HSA Like a Retirement Account

Start Early

The key to a successful HSA that will see an individual through retirement is to start early. An account that is allowed to grow relatively untouched, for an average of 20 years, will be worth a substantial amount of money after compound interest is considered. If you can find a job with an employer who contributes, especially early in your career, savings will accumulate even faster.

Use Other Accounts

There is no rule that says you must use HSA funds before you use other monies to pay for health care. If you can afford it, then you might be further ahead to pay for medical costs without using HSA funds. Then, the roll over from year to year will be greater and the compounding effect will be enhanced.

Don't Touch

Though it will be tempting, from time to time, to use HSA money for some large expense beyond health care, don't do it. The penalty for doing so is 20% over and above the tax you will pay by claiming the withdrawal as income. Leave the money where it is, unless you need it for health care.

Coming Out Ahead

If you start early and save diligently, an HSA could be the best retirement plan you invest in. Remember that HSA funds can be invested, so don't be afraid to go for mutual funds or other investments just as you would with other retirement income. Remember that you are investing in your health with this money, so treat it with the respect it deserves.

Ron Sheffer researches money matters in the healthcare industry. He often blogs about his insights to help people make smart decisions.

To Buy or to Lease?

The UK automotive industry is beginning to pick itself up from the dark financial times experienced in the last few years. Car sales have continually increased month-by-month for over a year and a half, the industry is currently one of the strongest in Britain and has become widely regarded as one of the key reasons we avoided a triple dip recession. Aside from purchasing new cars, hiring and leasing vehicles are becoming a particularly attractive proposition in the UK. At CarMax, we believe that now is the best time to take advantages of the strong car market, but what option is best for you – buying or leasing? 

Leasing

So what exactly is leasing? A lease is essentially a rental or hire agreement between two parties where a fixed monthly rate is paid during a set period – the length of time can vary from a few months to years. Once the leasing timeframe has passed, you simply hand the car back. It has been popular alternative to purchasing a car in the US for a number of years, but the appeal has increased in the UK in recent times.

This attraction can largely be attributed to driving away in cars that may be out of your normal price range, you often see BMW’s or Mercedes-Benz as popular choices when leasing cars. Furthermore, the leasing of cars enables you to drive a new car every couple of years due to returning cars once the leasing period expires. There are financial gains to make via leasing too, the monthly payments are traditionally more affordable in contrast to typical car finance options – however it is important to note that this does not always prove to be the case.

Buying

Research carried out by Which? looked at the cost of buying and leasing different car models, they found that traditional car financing options when buying a new car were still the more cost-efficient in most cases. This has been reinforced in the current high consumer confidence in the car market; sales of cars have recently hit a 5-year high – putting the UK automotive industry as one of the leaders in the wider European market. A large portion of the continued rise in sales comes from the various different car-financing options available.

Coming out of the rough financial times, the amount of people looking to use credit as a means of purchasing a new car has sharply risen to a record high of 75 percent. Car financing provides an easier and more beneficial means for the purchase of cars, however looking to secure the right financing package to suit you can still be an extremely stressful process. At CarMax finance, we specialise in offering excellent, affordable car finance regardless of your credit status. We hold the belief that everyone deserves the right to buy a new car; therefore, we are proud to assist you in securing bad credit car finance through our excellent service.

We acknowledge that leasing cars has its advantages; however, nothing beats the feeling of owning your own vehicle. Across the country many people are realising the incredible gains of owning your own car, the continuous growth of Britain’s motor industry over the last 19 months reinforces that purchasing your own car is still the more attractive option. Our car finance packages help with the considerable expense of a car, making CarMax Finance the only option to consider when buying a new car.