Rob Silvey, Money expert

Rob is an expert on… money products, things like credit cards and loans, as well as current accounts and savings accounts. Managing your money can be difficult, but there are options out there to help you fund a big purchase or pay for an unexpected bill. With the right information and the right product, managing your money can be made simpler.

Rob has also commented on… how to pay off a credit card, consolidating debt, loans and credit cards for those with bad credit, as well as finding the right current and savings accounts to help you save towards your future.

Rob Silvey commenting on car finance to the Daily Express – May 2021…

“Drivers need to be careful to avoid being caught out by car finance. Taking the finance deal offered by a car dealership can be like getting foreign currency at the airport – it may end up costing considerably more for the convenience. Car dealerships usually offer Hire Purchase (HP) or Personal Contract Purchase (PCP) loans. However, for most borrowers with a good credit history, a personal loan from a bank or building society often has a lower interest rate. Using a personal loan also has other advantages such as not requiring a deposit, no balloon payment at the end of the loan, and less risk of repossession if a loan repayment is missed. Motorists should always try to shop around on car finance if they want to make sure they get the best deal.”

Rob Silvey commenting on paying off your credit card…

“If you can afford to, it’s always best to pay off your credit card balance in full every month. That way you’ll avoid having to pay interest and risk getting into debt. At the very least, you must pay off the minimum monthly payment. Setting up a direct debit payment could help ensure you pay on time.”

Rob Silvey commenting on debt consolidation…

“Although potentially a last resort, debt consolidation loans can help you manage your debt more efficiently. Make sure you read the small print carefully and check to see if you’ll be charged a fee for paying off your other loans early – as this will affect the savings you’ll make with a debt consolidation loan.”

Rob Silvey commenting on ISAs…

“While ISAs might have lost some of their appeal thanks to the introduction of the personal savings allowance, they still offer a simple way to save tax-free. And they’re flexible as you can start with just £1 and transfer them as many times as you like to get the best rate.”