When it comes to property investment, is not for those who have been successful like CEO’s of big companies, business moguls or any other rich and successful. Whether you have enough available cash or you don’t, there is always a way out to financing investment properties, let’s face it, why would anyone want to invest on such areas? Most of us and big percentage of people who are investing on properties are doing so to finance their retirement, others want to get more wealth and earn enough to finance other properties.
As Currency Liquidator suggests investment properties can be said to be properties whereby the owner don’t occupy them, they are either used to generate extra income through capital gains. Of course they do come with risks and proper knowledge or rather research is necessary. When approaching lenders to finance your investment property you will experience hurdles as they don’t automatically approve right away thus you may require a good credit background, a sound investment plan and some lender may require you to have collateral. Financing your own home and property tend to be very different and you may be surprised that financing an investment property might require a huge amount of down payment and you will find out that most of the lenders have many restrictions and regulations because they well know how risky it is to finance such projects.
These are probably most available loans available loans available, these loans require the buyer to surrender things like land title deeds, cars, house and many others as collateral. It is said to be an attractive loan since it has lower interest rates reason being that, the lender lowers his risk because collateral maybe used in case the buyer fails/ defaults payments. If you have ever been denied unsecured loan, this is a good way to go but you should always be careful on the collateral that you chose to secure your investment property loan.
You won’t need any collateral for the unsecured loan but be very careful because the interest rates are normally high and you should always check with the bank as they get wary when it comes to property investment, there are many restrictions here like the lender might require 51% occupancy to the property and the reason why the lenders consider it to be risky is because they don’t have anything or ability to seize any asset in case of default and the only way is through suing the buyer which might be an expensive thing to do, absence of security makes it impossible for the creditor thus creating risk making high interest on such loans especially when it comes to investment property.
While you are still on your investment plan, you will experience more and more regulations from the lenders, keep in mind that lenders are very keen on funding such projects you will need to shop more because not all lenders have same regulation s and restrictions, some lenders might require you to have approval from housing associations.
The process of buying a car is often an exciting one, but before you are able to drive off with your new vehicle, you will need to figure out a financing plan. Some experts recommend choosing a car that you can afford to pay for upfront rather than taking out a loan and making monthly payments. In order to determine whether or not buying a car with cash is the best option for you, consider the following pros and cons of this practice:
No Need for Credit Check or Loan Approval
If you have the means to pay for a vehicle outright, you can eliminate the often stressful process of having your credit history evaluated and securing a lender. This is particularly beneficial if you are concerned about meeting the requirements for a loan approval.
No Need to Track Car Payments or Fees
Deciding not to buy your car with cash means that you will be responsible for paying your loan back in monthly installments, and if you happen to fall behind, you may be subject to additional fees and penalties, according to Personal Finance. Paying your costs upfront alleviates these concerns.
Interest Rates on Loans Do Not Apply
Although it is possible to obtain a low interest rate on an auto loan, if you have enough money saved up to bypass the loan process altogether, you can avoid spending more than the car is worth in the long-term. Interest adds up!
Less Time to Wait in Purchasing a Car
If the need for a new car is pressing, the ability to pay a seller in cash can easily reduce your overall wait time. Rather than worrying about potential delays in the loan-securing process, you just might be able to make a hassle-free deal with cash.
Ease of Re-selling Car When Desired
Buying a car with cash is advantageous if you plan to sell the car in several years. You will not have to worry about settling the terms of your loan; instead, you can use the sell car for cash method yourself to obtain your latest vehicle.
Decreased Availability of Liquid Cash for Emergencies
It is important to understand that if you are using a large portion of your savings to purchase a car outright, you may have difficulty freeing up additional funds in the event of an emergency. An auto loan may be a better option if you are concerned about retaining liquid cash.
Risk of Buying a Less Reliable Car
If you do not have the financial means to pay cash for a newer car model, spending less money on an older car can bring about issues in terms of maintenance and safety, as advised in Young Adult Money . You may prefer taking out a loan on a car that you know for sure is in great condition.
Loss of Opportunity to Build or Improve Credit Score
You may benefit from securing an auto loan if you need to establish a credit history or if you need to demonstrate your ability to make payments in order to improve your credit score. When using cash, you do not have a paper trail for future credit companies and lenders to consider.
Car insurance is quite necessary and can account for a certain fraction of your budget every month. Depending on a lot of factors like the number of vehicles you own, your age and your driving record, car insurance can cost you thousands of dollars every year. While the policy’s cost is essential, it is imperative to ensure that you have adequate coverage.
Today, there is strong competition in the insurance industry and you can come across countless insurance providers to select from. As you may be overwhelmed by the available options, you need to shop around, compare car insurance offers and select the best. For sure, you will be surprised to know you can find a variation of similar coverage levels between companies.
With many insurance companies offering internet services, it will not be difficult to get quotes; however, you should go beyond this. You have probably seen advertisements for companies which take pride of how they could help you save money on your auto insurance but take local companies into account. Often, a phone call is what you just need to get a quote from a reliable insurer.
Is your driving record clean? You may be qualified to get a car insurance discount. A discount is also possible if you have membership in an auto club or professional organization. Policy discounts can be obtained in so many ways so make sure that you mention your qualification whenever you shop around for car insurance. Additionally, always remember multiple policy discounts. If you are a home owner, it makes sense to check with your insurance provider to know the type of discount you could get by getting your car insurance from them. In a lot of cases, this would mean a discount of up to 20 percent.
Drop Some Coverage or Drive a Less Expensive Vehicle
The kind of car you will drive plays a huge role in identifying your premium cost. In general, you get higher premiums for more expensive vehicles. Also, insurers tend to keep tabs on the vehicles that thieves are often attracted to.
When insuring an older car, you may have to drop some coverage. For instance, it’s not worth to pay for comprehensive coverage when you are just driving a less than three thousand dollar car. Usually, after you factor in the deductible and premium following an accident, you will spend more than what your car is worth. Thus, it’s probably time to drop everything except liability coverage on your older car.
When paying high premiums, you should not just reduce coverage so you can save some money. Keep in mind that as you drive your car, your life and the life of others are at risk. Reducing coverage will just decrease the amount of injury and liability coverage. Medical treatment can cost you thousands and even minor injury could go more than what could be covered by a low coverage policy. It is important to ensure that you have enough coverage to protect yourself and your assets when a lawsuit arises. Although majority of states requires a minimum coverage, they are often lower than the amount you want to consider for a guaranteed protection.
Author Bio: Catherine is an insurance agent. A lot of her auto-related blogs talk about why people should compare car insurance.
The municipal corporations / councils / other government departments need sufficient funds for smooth functioning in the interest of the citizens. It requires lot of funds to manage the affairs of any department and the same is true in the case of councils too that can run in an even manner if it has sufficient money in hand. That’s why it levies certain taxes on the residents that need to pay the same in time. However, few persons fail to do so. The following tips would prove fruitful in managing the council tax issues in a viable manner.
Understand necessary guidelines – It is strongly advised that the citizens should follow the instructions of the municipal councils pertaining to the taxes in respect of their properties or other items. The councils facilitate sufficient time to deposit the taxes within which the taxes have to be paid either in full or through instalments. The payments should not be delayed otherwise it would incur interest and other fines. If the taxes are not paid in time the councils issue notices / reminders to pay the same within the fixed time periods. If the citizens fail to adhere to such instructions, they are issued with subsequent reminders. It is the responsibility of the citizens to clear the taxes within the stipulated time.
Negotiations – The persons that are unable to pay off their taxes despite the reminders are advised to approach the council officials and negotiate with them for giving relaxation in terms of time and the number of instalments. The kind hearted council officials would definitely adopt lenient attitude and relax the terms and conditions of payment for the needy persons.
Examine the bills – It is of great importance that the council tax bills are checked by the citizens because often the fault lies with the tax officials that make mistakes in calculating the tax or the instalments. The silly errors by the council men may put you to great inconvenience and financial burden. Do not hesitate to approach the higher officials if needed. It may happen that the council bill of other persons with the similar name might have been sent to you for payment.
Consult the tax related website – It is recommended that the citizens should click at the websites that highlight the rates pertaining to the council taxes. You can compare the tax bands of your own locality and see if there is any difference pertaining to your property tax or other charges.
Pay through your own benefits – It would be an easy way to manage council tax issues by paying the same through your own benefits, i.e. any income supports, jobseekers’ allowance or credits of pension etc.
Lawyers’ guidance – People that face any council related tax issues are advised to approach their legal advisors that are equipped with expertise in managing such matters in a feasible manner. The nominal payments charged by the lawyers prove their worth to solve the issues and save the citizens from paying huge amounts sometimes due to the fault of the council officials.
Candidly the above simple tips can help the citizens to manage their council tax issues in a reliable manner. The prominent website, i.e. www.counciltaxadvisors.co.uk can also be of great use for the persons that intend to settle the tax matters.
New or young investors find the whole process of investing in mutual funds quite interesting. They do not understand the procedure involved in opening a mutual fund account. They have to take help of brokers or staff from financial firm to do the needful. Today, it is quite easy to do invest in mutual funds online.
Options available to invest in mutual funds in India:
• Take assistance of brokers or agents: Agents help their customers complete the procedure and earn commission from financial firms. That expenditure is adjusted against your NAV. The brokers will merely act like a mediator between the mutual fund investor and the respective financial firm.
• Direct way: There are two options to invest in mutual funds in India, and they are quite better than hiring an agent. You can go directly to the bank or fill the forms online. You can save time and energy by simply following online procedure, from home or office.
Investing through online has become common in India. Little info about the process will surely help you to do it successfully. It is totally safe and your personal details are not leaked to the third party for any reason. It is much quicker way start investing in mutual funds.
How to invest in mutual funds online?
This procedure does not involve any mediator or agent. You can directly communicate directly with the mutual fund companies. This makes you independent as well as save money on hiring an agent.
This mode of investing is quite cost effective, thereby making it the best option for new and experienced investors. All you need to do is fill up the online form and submit it. You will receive all the documents by courier with a few days.
You can even invest through online portals. It is not as cheap as direct mutual fund investment. However, you get access to important details such as a list of all the mutual fund investing companies at one platform.
You can invest in mutual funds India through online Demat accounts. They charge you a small amount of fee for the same. Many online stock brokers normally offer their clients mutual funds investments. In return, they get paid good commission by the finance companies. This is then adjusted in your NAV.
What are the steps involved in investing online in India?
• First you will need to look for a reputed and reliable mutual fund company online.
• Once you find one, thoroughly go through all the terms and conditions on their website. If you fail to understand any of it, approach their online customer service.
• After being cleared about the procedure and policies, you could download the form and fill up the required details. You can pay through check, DD or have the money drawn from your account directly.
• Enclose the required documents such as proof of identity and your passport size photographs along with the application form and courier it to the mutual funds company.
• Within a few days, you will receive a PIN for your online account, along with the agreement paperwork.
Now that you know how to open and account online to start investing in mutual funds, go ahead and make some profits.
Joseph Kenny is an experienced blogger, and usually writes on topics are related to investments. If you are looking for mutual funds India online options, please feel free to visit their website today.
If you’ve received a court summons for a minor offence – whether this is debt, a traffic violation and so on – your first instinct may be to panic. This is particularly true if you have never fallen foul of the law before and don’t really understand the procedures. You may wonder about how an appearance in court is going to affect your long-term prospects, or whether you are going to receive a severe sentence. The best thing to do in this situation is to do your research so you understand exactly what is likely to happen.
Above all, you shouldn’t immediately go into panic mode – try to resist this as much as you can. A summons doesn’t automatically mean you are going to receive a terrible sentence and you may not even have to appear in court at all, depending on the offence and on how promptly you act. You will have plenty of time to assess the case against you and consider what to do about it.
In fact, it’s best to do nothing at all for at least a few hours until your initial shock or anger has subsided and you are able to think rationally. Some people make the mistake of immediately picking up the phone and making an angry call, or abusing the process server who has delivered the documents to them. All we can say is: think twice before you act rashly. Being aggressive or abusive, regardless of how unfair you think the complaint is, will only work to your detriment.
On the other hand, don’t wait too long to do something about the summons. You will be required to respond within a certain time period and during this time you may well need to think about getting legal representation as well. The first thing to do, after the process server has given you the documents and you have calmed down enough to think clearly, is to read carefully through all the paperwork.
This will usually consist of a summons and a complaint, the latter detailing what you are alleged to have done and the former requesting that you appear in court to answer the charges. What exactly does the complaint consist of? Is it something of which you were previously aware? Is there some element of truth to it or not?
Once you have read and understood the summons, it is time to take some kind of positive action. If it is for a debt or parking violation, there may even be a number you can call to discuss payment terms if you are sure that you owe the money. There is no point spending money on legal representation if you know you are highly unlikely to win. In this case, you may well be able to avoid going to court altogether. However, be prepared for the fact that there may be extra costs on top of your initial debt, such as interest, late fees and court costs.
The summons should also contain specific guidelines to filling out your response and any accompanying documents you may need. It’s important you do this correctly because your original response will be filed with the court and the plaintiff and their attorney will probably also be given a copy.
If you totally disagree with the charges against you and you haven’t been able to settle the matter out of court, then now is the time to begin thinking about getting legal representation. If you don’t already have your own solicitor that you use regularly – and most of us probably don’t, then you could contact a legal firm. Or, failing that, you could go to the Citizens’ Advice Bureau who will be able to advise you on the next steps to take and how to get the right representation for you. They will be used to dealing with all kinds of cases and situations, particularly in relation to personal finance, so you shouldn’t feel awkward about going to them.
So you are going to buy your first home? That’s great, we expect you to find a decent house. At the same time we’d like to give you some tips so you don’t repent afterwards that you’ve taken a wrong decision when buying your first home.
The tips below cover everything that a first time home buyer should take note of. Let’s give a look at them;
Compare selling prices
You can search online, consult real estate websites and get an idea of selling prices. Try to get all the information about the property beforehand and the price so you could at least know whether you’re getting what you’re paying for. You can take help of multiple listing service. The National Association of Realtors is helpful to compare selling prices.
Attend a home buyer’s seminar
Information on home buyer’s seminar are very easy to obtain. You can ask your friends and neighbours and also search on the web. If you couldn’t physically attend those seminars, join a webinar i.e. a virtual seminar. Make sure there are people with experience of home buying as they could give you valuable information.
Understand your needs
Don’t let your ‘wants’ suppress your ‘needs’. Your needs are the essential requirements while what you want are your fancies. When buying a home for the first time, prioritize your needs. If the home is not decorative enough but situated in a convenient location or inexpensive, go for it.
Mortgage or loan is quite common for home buyers. When taking a mortgage, a piece of your property will be used against the loan amount as a collateral. But when opting for mortgage option, keep in mind what could be the value of your new property after some 10 or 15 years because in case you are not financially well-off to pay the loan or the interest, you’ll have to sell the house.
Find a reliable real estate agent
This is perhaps the most important part. An agent who is not so experienced, will not be able to help you. A good agent on the other hand will give you helpful advice, understand what you need and find such a property for you. You can ask for reference or straightway inquire them if they’ve sold enough homes to make sure the agent is worthy.
The tips above will help you buy a home that is worth paying money for. So follow these tips to make your first home buying a memorable experience.
Jack Crew is a financial advisor who has many years of experience in writing on mutual funds, stocks, insurances and savings. His blogs finance updates often feature news articles on recent finance updates.
It is a simple statement of fact that for all of us, even those of us with the most seemingly mundane and predictable of lives, there will be ebbs and flows and ups and downs. And it is important to remember that such change will inevitably affect your personal finances.
Now we all know that it is of great importance to spend less than you earn and to stick to some form of budget in aid of this; organisation and discipline is the key. With this in mind, if our income, outgoings, and general spending habits are prone to change every so often, than it is of great importance to review your budget from time to time to take these changes into account. Doing this is a sure fire way of avoiding such mishaps as getting into debt, missing payments, or finding yourself in a pickle one day because you need access to savings which you don’t have. Consider it something of a personal finance MOT if you will!
Tweak your budget to take into account any changes
The first step here is to quickly check over your budget; and if you don’t already have a budget, make one! A budget should detail exactly where your money is going each month, so you know for example how much you are spending on essential costs such as utility bills, rent/ mortgage payments, transport costs, food shopping, etc, which will in turn allow you to know how much money to allocate to savings and your disposable spending pot each month.
By regularly reviewing your budget every month or so, you will be able to keep on top of any changes to your income, and/or any changes to your expenses, such as over the winter months when your gas and electric bills inevitably rise, or if you are required to increase or decrease your rent/ mortgage payments. On a lighter note, re-jigging your budget to take into account a planned holiday for yourself and your family or any work parties, nights out, birthdays, clothes shopping trips, etc., will save you from finding a gaping hole in your finances at some stage in the future.
Keep an eye on your debts and don’t forget to pay on time
Another area you should pay close attention to is the subject of debt. Virtually all of us have credit cards, loans, and overdrafts, and it is important to keep track of where you stand with all of them. If you have a credit card, you should ideally keep under the golden 30% threshold to keep your creditors happy, or at the very least be making payments in excess of the minimum expected payments so that you can pay it off as quickly as possible. Likewise, any overdrafts that you have should be cleared at the earliest opportunities, and loan payments should be met without fail. Lenders, especially the mainstream banks, remain very risk averse following the credit crunch, and any blotches on your credit file, such as a missed payment for example, will be frowned upon. If you have any plans to apply for a mortgage or loan at any point in the near future, they could easily be derailed by something as seemingly insignificant as a missed credit card payment for £10 that you may have forgotten about.
Minimum wage in the UK is currently £6.31 per hour for workers aged over 21, £5.03 for 18 – 20 year olds, £3.72 for under 18’s and £2.68 for apprentices under 19. Each October, the minimum wage rises by the odd few pence, but this year it’s going up to £6.50, a whole 19 pence more. This should make a lot of difference for those who are struggling on the minimum wage. For someone who works a 35 hour week, it means an extra £352.45 of pre-tax salary per year. This equals a rise of £19 per month extra straight into their pockets. An extra £19 per month may not sound like much, but it could mean the difference between really struggling to put food on the table and being able to easily feed the family. Although this wage rise will be welcomed by many on the lowest wages, it’s still not even close to the ‘living wage’, which currently sits at £7.65 per hour outside of London, and £8.80 within London. This is the minimum amount that should cover the basic living costs in the UK, according to a yearly independent review.
If you are currently earning the minimum wage, you may have your own opinions about how easy it is to live on. Depending on where you are in the country, the minimum wage could leave you with just enough to get by comfortably, or it could mean you have a shortfall each month so you need to borrow in order to fill in the gaps. Fluctuating accommodation costs throughout the UK make up a huge part of this, as you can rent a two bedroomed house in Selby, North Yorkshire for around £510 per month, but the same house in Alton, Hampshire could set you back £860 per month. As a rule, properties in the North are much cheaper than those in the South of the UK. Earning the minimum wage in London may not actually earn you enough to even live there; such is the state of the housing market at the moment. It takes two full time minimum wage incomes at least in order to live comfortably in many areas in the UK.
The breakdown of people who earn the minimum wage is surprising. You would think that many young people are the ones who earn the minimum hourly rate, but in fact, 10% of people aged between 35 and 54 earn this amount. A quarter of these older minimum wage earners have been on the minimum wage for five years or more. Unfortunately, many companies will offer the minimum wage for lower-skilled jobs because they can. They know that people are desperate to work and they know that by offering the minimum wage, they’ll be within the law, but they’ll also be paying some of the hardest workers in the country very little for their time. Due to this, almost half of those earning a minimum wage have debts which continue to grow, and around 70% of them find it impossible to live off their wage packet alone.
This article has been written on behalf of Unsecured Loan News. Check them out if you’re looking for top personal finance articles.
Road Accident Solicitors have knowledge and quality to regulate an amazing mixture of accident cases intertwining specially identity boggling and testing cases. With several years of experience in managing the motorcycle disaster, they have made a dazzling position in the minds of their customers. The best definitive executives have generated an accepted name in the business. Their pleasing and amicable nature makes customers to approach them and spot their cases in their ensured hands. With an uncommon track record in helping cases for compensation claim that confirm their customers for receiving the expense of the needed treatment or setbacks acquired by all of them owing to that accidents. While dealing with the life affected with accident aftermath, a considerable amount of drivers is more inclined to occurrences which can result physical and mental wounds in them. As two wheeler accident solicitors are here to help you recuperate any setback or get medicine or therapeutic assistance, recompense for the harm done to you, or your cycle and even trauma treatment if needed.
Road Accident Solicitors
Shockingly there are many individuals either killed or genuinely harmed in road traffic accidents .You may have had a mishap on a transport, motorbike as the driver or traveler in an auto. The episode could have produced an immediate harm or cause delicate tissue damage, for example, whiplash. In the event that you have had a mischance that doesn’t offer immediate damage outcomes you may need to seek after a mishap payment claim. A road accident can differ depending upon your mental state, family life, profession and accepting a payment installment can cover up various variables.
Basic reason for Road Traffic Accidents
• Aggressive driving
• Driving while affected by alcohol or narcotics
• Driving imprudently or excessively rash
• Ignoring road safety signs
• Climatic issues
• Vehicle glitch
In the meantime, the pennant of Road Accident cases:
• Bus & Coach mishaps
• Car crash claims
• Passengers in Cars
• Bike and Motorbike claims
• HGV claims
• Accidents as the consequence of the Emergency administrations
• Hit and Run drivers
• Claims from Pedestrians
• Incidents created by Uninsured drivers.
• They regularly manage numerous sorts of mishap cases including;
• Accidents on Holiday
• Accidents at Work
• Accidents created by deficient items
• Road Accident Claims (driver, traveler, on a transport, walker, cyclist, whiplash)
• Slip and Trip in an open spot
• Sports Claims
Focal points of procuring a Road Accident lawyer
Here they can have a sound comprehension. Laws of Road Accident Solicitors differ from state to state. They likewise contrast on the premise of distinct circumstances. A common layman may not be knowledgeable with these laws. Most of the time, one may not make sure what he is qualified for get however meeting with a accident while driving or living up to expectations often turn out to be worst an experience. You can do some critical research in this venture; toward the conclusion of the day a road accident lawyer is the main individual who can deal with your case in a proficient manner.
Proceeding with a lawyer is always secured
These lawyers have the experience in taking care of cases like yours and such cases aid them in envisioning issues and making a sound planning to case payment. At the point when your lawyer has sound learning of laws identified with Road Accident Solicitors then he can arrange for a suitable remuneration for you. It is fascinating to realize that the most insurance agencies attempt to set aside a few minutes of paying recompense to the defrauded individual. Your Road Accident legal advisor can guarantee that such sort of thing does not happen with you.