Financial fear of the dentist worse than the drill
It used to be a fear of the dentist that kept us away from the dental chair but today it is more than twice as likely to be the cost of dental care that’s holding us back, according to research from Tesco Bank.
Over a third of us (35%) haven’t visited the dentist in more than 18 months and one in ten hasn’t been for more than five years. Just 13% admit to staying away for fear of the drill. However, for almost a third, it is the high cost of treatment that stops them from visiting the dentist and a further third (34 per cent) have not registered with a local dentist.
The survey, examining our oral hygiene habits, also reveals that a lack of available NHS treatment is causing people to travel further for their dental treatment. So highly-valued is NHS treatment that, on average, a UK adult would travel nine miles to secure a place with an NHS dentist.
These journeys, or “dental miles”, increase to as many as 16 for the people of Aberystwyth or 13 for Geordies.
Prepared to travel the most “dental miles” to register with an NHS dentist:
Rank City Average miles
1. Aberystwyth 16 miles
2. Newcastle 13 miles
3. Swansea 11.5 miles
4. Gloucester 11 miles
5. Aberdeen 11 miles
Head of Tesco Dental Insurance, Jeremy Sutton, commented: “Far from being a nation of ‘dentophobes’, the research actually suggests we are prepared to go the extra mile, or even ten, in order to receive affordable dental care. Dental health should be a major part of everyone’s daily routine and regular check-ups can actually reduce the risk of needing expensive major procedures.”
Have you been driven to Debt?
Filed under: Debt Management, Money Saving Tips, Mortgages, Savings
As if rising utility bills aren’t enough, now motoring can drive you further into debt. It’s a little bit of a catch 22 situation, as most work requires you to drive, but with rising costs for running a car, this can put you in a difficult situation.
If you are in some financial difficulty and you rely on a car to get around, take note of some of these car insurance money saving tips and you can save a few pennies along the way.
When completing a car insurance form:
- Check if your car has an advanced security device. If so, note the model and number and let your insurers know. They may offer some form of discount.
- If you have had a long period of ‘no claims, note this thoroughly as you will be rewarded with lower premiums.
- If you are an advanced driver ie: you have passed your PassPlus exam, again note this on the application as some insurers reward drivers who have this additional certificate.
- Make sure you obtain quotes from a large number of insurers before signing a contract. There are a number of car insurance comparison sites which will find you the best deal based on your car and personal details.
By following a few of these simple tips you can ensure that the pleasure of driving doesn’t drive you further into the red.
Mortgage payment protection insurance (MPPI) - What is it?
There has been a fair bit of bad press on mortgage payment protection over the last few years, so i will try and clarify this for you and help you save some money along the way. MPPI is often missold to homebuyers and can cost you hundreds of pounds a year!
What exactly is Mortgage payment protection insurance (MPPI)?
Mortgage payment protection insurance (or MPPI for short) is a way in which you can guarantee you payments are
MPPI is often mis-sold to mortgage applicants
made to your mortgage provider if for some reason you can’t meet the payments for that month. The insurance is like a safety net for you to fall back on, if for example, you lost your job, become ill for a long period of time or fell under other circumstances which affect your financial situation.
The mortgage protection is not a pre-requisite for actually being accepted for the loan, but the wording used by sales teams can often confuse the matter. Because this policy is easy to sell, the mortgage providers who will ‘recommend’ such policies to unwitting home owners as a further way to profit from the mortgage application, without it actually being useful for that individual. DON’T BE FOOLED – Your application is processed based on a number of factors, including your income, credit rating, and financial history and NOT whether or not you buy the MPPI !
Some example of when MPPI might be suitable for you:
- If you have a history of sickness or illness which may affect you working.
- If you do not receive adequate sickness / redundancy pay to cover the mortgage payments
- If you are in a job which may not be ‘stable’ (although you never can tell..!)
MPPI probably isn’t suitable if :
- You already have insurance which covers this.
- You have a large volume of savings that you would happily use for payments if required
- You have a low monthly mortgage which could be easily paid by a partner or on even a basic salary.
- There is a low maximum payout cover, or you are only covered for a small number of claims.
When decided whether or not to go forward with a mortgage protection policy, make sure you check the clauses and pay out periods as these can dramatically influence your decision to go ahead. If you are keen to take out the insurance, make sure you go with an external supplier which will usually give a far better premium. I will be sure to review some of the better offers around the UK, and let you know in due course.
House prices to fall below £100,000?
Will we see average house prices of under £100,000? Some economists think so.
House prices are currently tumbling across the UK, but is this a trend that is likely to continue? Normally house prices, and ultimately lenders were happy to give out mortgages in a comparative ratio to individual’s salaries and their credit rating. A little outdated say some, but this is still a realistic way of measuring the affordability of mortgage repayments for many first time buyers. Although the days of 110% mortgages may be temporarily gone, the banks are still a little timid when it comes to handing out huge amounts of money. But as the economic situation in the UK worsens, will we see house price averages drop below £100,000?
How does the credit crunch apply to falling house prices?
Graph showing house price to earnings ratio
According to a number of economists, and the presence of included graphs, you can see how the house price to earnings ratio dramatically swings during boom and gloom periods within the economy. We are already in desperate times, so we are heading for another dip, which means the smart buyer may wait a year or so until the ratio is between 3-4x the annual salary before signing the dotted line. This also negates the over-exaggerated house prices that have forced out many new buyers in recent years.
The ratio has already dropped to around 4.4 x salary from a peak of 5.8 in the middle of 2007 or £200,000. Some economists foresee the figure dropping as low as 2.75-3x or around the £100,000 mark. My guess is that the house prices will bottom out in around 2011, but for the most accurate idea of when this will happen – just look to the official figures available from some of the big lenders.
