Case Study on Borrowing

Case Study on Borrowing
Sam is twenty five years old and would like to borrow £2,000 to fund a trip to Australia for his brother’s wedding. He is prepared to spend up to two years paying for this. He is currently employed as a primary school teacher and has been in the same job for the last three years.
a. Compare three different types of financial providers that offer products suitable for Sam. 9marks

b. Compare the main features of one suitable loan product provided by each of the providers from part a. and recommend which of them would be most suitable for Sam. 10marks

c. Sam has found out that the loan providers will look into his credit history.
Describe how the loan providers will check Sam’s ability to repay the loan. Discuss how a bad credit history may affect his choice of products. 8marks

d. £54,178 was the average household debt (including mortgages) in September 2013 (£6,020 excluding mortgages)
£163 million was the daily amount of interest paid on personal debt in September
http://themoneycharity.org.uk/debt-statistics/
Indebted households in the poorest 10 % of the country have average debts more than four times their annual income.

Welcome


Maxed Out: Serious personal debt in Britain November 2013

Discuss the statistics and quotes above, commenting on;
the level of personal debt in the UK
the extent to which loan providers may be held responsible for this
the issues associated with personal debt
23 marks

Word count ~ 1,000 words.
Harvard referencing
Submit through Turnitin
This coursework must be carried out individually.

 

Compare = identify similarities and differences between
Recommend = advise on a course of action
Describe = communicate the key features
Discuss = examine in detail by argument

<40% 40% – 50% 50% – 60% 60% – 70% >70%
a Compare three different types of financial providers that offer products suitable for Sam. No comparison.
OR
Providers chosen not sufficiently different to allow meaningful comparison.
Little comparison.
AND/OR
Facts stated are incorrect or confused. Some comparison.

Most comments are factually correct. Good comparison.

Most comments are factually correct and there is clear distinction between types of providers. Detailed comparison.

All comments are factually correct and there is clear distinction between types of providers.
Style of writing is very clear.
Relevant terminology is used correctly.
b Compare the main features of loan products and recommend which would be most suitable. No comparison.
OR
Products chosen not sufficiently different to allow meaningful comparison.

 

No recommendation. Little comparison.
AND/OR
Facts stated are incorrect or confused.

 
No recommendation Some comparison.
Most key features identified.
Most comments are factually correct.

Recommendation made but not justified. Good comparison.
Most key features identified.
Most comments are factually correct and there is clear distinction between types of products.
Recommendation made and justified. Detailed comparison.
All key features identified.
All comments are factually correct and there is clear distinction between types of products.
Style of writing is very clear.
Relevant terminology is used correctly.
Recommendation made and justified.
c Describe how loan providers check ability to repay.
Discuss how a bad credit history may affect choice of products. Description not clear.

 
Little discussion. Description short with some facts incorrect or confused.

Some relevant discussion. Description factually correct.

 

Some relevant discussion. Description factually correct and clear.
Relevant discussion.

Some evidence of wider reading. Full description factually correct and clear.

 

Relevant discussion, well structured and correctly referenced to relevant sources.
d Discuss the level of personal debt in the UK,
the extent to which loan providers may be held responsible and
the issues associated with debt.
Very few relevant comments.

No discussion

 
Few relevant comments.
Discussion short and unclear.

 
Some relevant comments.
Some relevant discussion, lacking structure and balance.

 

Many relevant comments.
Clear, relevant discussion, with some structure and balance.

Some evidence of wider reading. High level of relevant comments.

Relevant discussion, well structured, balanced and correctly referenced to relevant sources.

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