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	Issue 77 - January 2008 It has come to our attention that last weeks article 'Ignorance is not Bliss' contained links to our partner Moneyspider which did not work. This was as a result of our Email service provider going down and it meant that many of you were unable to take advantage of their offer for free registration plus £20 cash back. So, if you missed out last week here are the links again. And with world stockmarkets having crashed in recent days and further falls very likely despite the odd bounce it is even more vital than ever that you urgently check to see how your ISAs, PEPs and Unit Trusts have fared using the Moneyspider.com service. In the current situation ignorance really isn't bliss! Read full article >>> Register with Moneyspider.com and receive £20 cashback >>> Could your unsecured loan be putting your home at risk? A little known clause in many mortgage contracts means that additional borrowing such as loans or overdrafts taken out through the same lender could also be secured against your property. Many mortgage lenders include an 'All Monies Charge' in their mortgage contracts which means that it's not only your mortgage which is secured against your home. Should you have additional borrowings with the same lender by way of personal loans and overdrafts then you could find that these are also secured on your property. This means that your home is at risk should you default on the additional borrowings as well as your mortgage. The All Monies Charge is used by many high street lenders to secure all borrowings, present or future, against your home. So, whilst you may think you are taking out an unsecured loan with them you could find they have your home as security should you default. So, what should you do? First, if you are in the process of taking out a new mortgage ask your solicitor to check whether your lender uses an 'All Monies Charge'. If they do then you can ask your lender to remove that clause or alternatively seek another lender who does not. If this is impractical or you already have your mortgage in place then it's sensible to arrange any additional borrowings with a lender other than your mortgage lender. In fact, it usually makes sense to shop around for additional borrowings anyway as you can usually find a better deal than your mortgage lender is offering. In the event that it's too late and you already have additional 'unsecured' borrowings with your existing mortgage lender then you need to find out of this clause is in play. If you ask your lender they should be able to tell you, alternatively the solicitor you used when you purchased the property should be able to find out. If the All Monies Charge is in place then you need to be aware that your home could be at risk if you default on additional borrowings and not just your mortgage. Alternatively rearrange your additional borrowings with another lender so that the debt is truly unsecured (make sure you check for early repayment penalties if you are paying off a loan). Compare Personal Loans>>> Compare Current Accounts>>> Compare & Buy Car Insurance Banking & Saving Secured Loans Home Insurance Best Buys Travel Insurance 2 great reasons to review your live cover today. Go >>> Compare the market to find the best deal Go >>>     Compare 0% balance transfer cards plus many many more. Go >>> Get impartial advice from one of our experts Go >>> Life Cube Compare 200 life plans in minutes. Life cover from £5 a month. Cheap life insurance quotes. Debtbuster Loans Overspent on your credit cards? You could clear them quickly & simply with a loan from us. 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Barclaycard Flexi 4.9% APR Typical (variable) 0% interest on balance transfers for 10 months (2.5% handling fee applies) 0% interest on purchases for 10 months from account opening Fantastic range of benefits banking & saving YBS Savers Accounts Great value ISAs and other savings accounts! We offer a large range of savings accounts including ISA online and instant access accounts Halifax Children's Regular Saver Get 10% AER fixed for a year with Halifax Children's Regular Saver Simply save £10-£100 monthly on behalf of a child, and make no withdrawals. Halifax Websaver Extra Halifax Web Saver Extra gives you a great online rate of 6.18% AER/6.35% gross including 0.35 gross bonus until 18 July 2008. Moneynet is a trading name of Sterling Business Consultants Limited of Sussex House, 8-10 Homesdale Road, Bromley, BR2 9LZ. Registered office is 51 Eastcheap, London EC3M 1JP, Reg No: 03165711. Moneynet is authorised & regulated by the Financial Services Authority. 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