magic finance group

Do you find some companies talk in jargon that you don't understand? Here at Magic we are a new breed of Financial Solutions Company, we are here to help you make the right choice not confuse you with products that work best for us!

Please find below a simple explanation of some of the terms you will find used on this website, but remember we are only at the end of the phone if you would like someone to talk you through our products.

	Mortgages Explained?
Mortgages are long term secured loans normally used to purchase a property, however it is becoming increasing popular for borrowers to change mortgage lenders to obtain better rates or better terms and conditions, this is known as remortgaging.

	What are Financial Claims?
Their are two main types of Financial Claims, Unfair Credit Agreements and Mis-Sold Payment Protection Insurance claims. Simply we help you make a claim against a lender that you have a credit agreement or insurance policy with. We can quickly assess your agreements to see if you are entitled to make a claim, if so it may be possible to write off your loans or re-claim thousands in payment protection premiums!

What are Financial Claims?

Their are two main types of Financial Claims, Unfair Credit Agreements and Mis-Sold Payment Protection Insurance claims. Simply we help you make a claim against a lender that you have a credit agreement or insurance policy with. We can quickly assess your agreements to see if you are entitled to make a claim, if so it may be possible to write off your loans or re-claim thousands in payment protection premiums!

	What is a loans broker and why do you use one?
Choosing a loan is a very important decision. Loans brokers are intermediaries between the borrower and the lender, and they are independent from lenders too, so they can offer a wide range of loans. Using a loan broker means you have access to their expert knowledge, competitive rates and deals that may not be available online, as well as the convenience and speed of only having to give your details once. The broker will also be able to give you a personalised quote, whereas the results you see in your comparison show the typical APR, which the lender may or may not actually give you, depending on your circumstances. If you take out a loan through broker, they will be paid a commission fee by the lender.

What is a loans broker and why do you use one?

Choosing a loan is a very important decision. Loans brokers are intermediaries between the borrower and the lender, and they are independent from lenders too, so they can offer a wide range of loans. Using a loan broker means you have access to their expert knowledge, competitive rates and deals that may not be available online, as well as the convenience and speed of only having to give your details once. The broker will also be able to give you a personalised quote, whereas the results you see in your comparison show the typical APR, which the lender may or may not actually give you, depending on your circumstances. If you take out a loan through broker, they will be paid a commission fee by the lender.

	What is a Secured Loan?
A secured loan or a homeowner loan is given to the borrower using their property as security, it allows you to borrow a larger sum of money than an unsecured loan with better rates available.

	What is an IVA?
An IVA is an individual involuntary Arrangement which is a legally binding agreement between you and your unsecured creditors, it enables you to repay as much of your debts as you can afford over a fixed period of time usually 5 years, after which the lenders will write off the remaining debt.

	What is an Unsecured Loan?
An unsecured loan also known as a personal loan is given to a borrower without them giving any security to the lender, they are available to homeowners and tenants and they offer a hassle free quick payout normally with 7 days!

	What is Buy and Lease Back?
Buy and Lease back allows you to keep your home if you are facing repossession, we can put you in touch with someone who can buy your property from you to allow you to clear your debts and they will rent the property back to you on a long term tenancy agreement so you don't have to go through the hassle of moving home!

	What is debt management?
A Debt Management plan is a simple way to look after your unsecured debts, our experienced team of advisers will help you workout an affordable monthly payment which will form the basis of the plan, this amount is then distributed between your creditors as your new monthly payment, often the charges and interest on your account can be frozen so the monthly payment is clearing the amount you owe.