• Transferring Your Home Loan: Things to Consider
    When banks offer interest rates lure that seems better than your current bank withdrawal of your home loan, you may be tempted to transfer the loan. But remember the point that each bank has its own marketing strategy, and it might not be what they seem on the outside. It's important that you know the details of the bank offer deep. There are other important things to take into account than just the interest rate on your loan. The following are things to consider when you transferring your home loan.

    Compare Total Outflow

    While the new bank can attract you to his side by offering reduced EMIS and lengthen the repayment period of your loan, you should be aware that this may increase the total amount you have to pay in the end due to the addition of the continuous interest rate for your loan amount. If your current EMI is higher than what is being offered a new bank, you have to compare the total outflow from the two banks before you shift. Unless you are struggling to pay your EMI this time, is not advisable to shift banks just for the decline in interest rates.

    Be Sure to Negotiate

    If you do not want to be dictated by the terms of your new bank, although you find some aspects of the offer to be attractive, make sure to negotiate. Negotiations can take you away from that at the mercy of your lender and can even give you the upper hand. Banks do not want to lose their borrowers, especially if they have a clean record in repaying the loan on time. So more often than not, the negotiations will be considered by the bank.

    Switch on the Right Time

    In general, your EMI structured in a way that you pay the interest component first and then your main components. So if you make the switch at the beginning of the period of your loan, you will pay a higher amount to the interest component, whereas if you switch on the end, you will pay a higher amount to the main component. If the new bank has an attractive interest rate, you get the maximum benefits with the switch during the initial period. Timing switches correctly can save a lot of money.

    Notice Terms and Conditions

    Every time you switch to a new bank, it is important that you thoroughly read the terms and conditions of both the old and new banks. Some banks may have a condition such as buying insurance from a particular company or other such terms. Acquire complete knowledge before signing the document.

    Know the Cost of Allied

    Especially with home loans, you should know that transferring your loan comes at a cost as processing fees, stamp duty, legal fees, technical costs, appraisal costs, and much more. You must take all this into account and see if the offer of a new bank is worth.

    The author, who focus more towards highlighting social issues we face every day. I give tips on property investment, writes on real estate market trends, and provides insight into the latest housing projects. For questions related more solid, you can call directly on this number 877-591-5975, so there is no mistake when you want to access it.
    11 Jul 2014
    2 comments
  • Topping Up Your Loan

    http://www.cashloansmutual.com/?c=214496

    If you're registered for Cashloansmutual Online Banking and you already have a loan with us, you could apply to top it up online to an overall total of £35,000. That way, you’ll have the cash you need – whether for a new car, renovations or a bit of extra breathing room.

     
    Top-up your existing loan

    When you top-up a loan, we don’t actually add money to it. Instead, we set up a new loan for the remaining balance and the extra amount you want to borrow. Then we pay off your old loan from that total, including any early repayment charges, and transfer what's left into your account. The new loan may have a different interest rate from your initial loan, and the term might be different too. This may mean that you would pay more interest than before.

    If you haven’t signed up for Online Banking, you can register now. You can also call us on 855-409-5036 or visit a branch.


    Take out an additional loan

    Did you get your current loan for a specific reason and want to borrow for something else, or just want to keep your repayments separate? If you have a Cashloansmutual and are registered for Online Banking, you could apply for a second loan.
     

    Log in  to see if you have a provisional loan limit and can apply online. Then follow the application process.
     

    If you're not registered for Online Banking, call us on 855-409-5036.
     
    As with any form of lending, make sure your new repayments will be affordable.

    All loans are subject to status at the time you apply. Early repayment fees will apply.
    Features of our Cashloansmutual Personal loan

        Borrow up to £35,000 in total 3
        You could get an obligation free personal price quote without affecting your credit score. Log in to Online Banking to see whether you have a provisional loan limit, without affecting your credit rating:

    1.  One fixed monthly repayment to help you budget
    2. You have the legal right to repay the loan early at any time
    3. Rates are the same regardless of what you’re borrowing for
        You can apply in Online Banking, in branch or over the phone, depending on your circumstances and the products you hold 6
        Loans are available up to 5 years (or up to 10 years on larger amounts for selected existing customers)

    Repaying your loan early
    You have the legal right to repay your loan early, in part or full, at any time. As well as any other interest that’s due, we’ll charge you a fee equal to 30 days’ interest. This will be calculated using the amount being repaid for a partial repayment or on the amount you owe us if you repay in full. For more information, call 855-409-5036 or visit a branch.

    To find out what your repayment fee is at any time, log in to Online Banking, call us on the same number or visit a branch.
    13 Jul 2014
    4 comments
  • Hard Money Tips for Real Estate Investors
    Real estate investing has been a hot-button topic in recent years, as we have seen the industry turned inside out with volatility, the collapse of the housing market, and, of course, the tightening of capital purse strings by the banking sector. However, for hard money investors and borrowers, opportunity abounds in these turbulent times, as the ability to capitalize on distressed properties opens the door to fantastic opportunities for profit.

    It is worth noting that not all distressed properties pose the same profit opportunity, which is why we've created this guide in an effort to better educate about what to look for, how to secure funding, and most importantly, how to generate a healthy return on the transaction.

    Identifying the Perfect Distressed Property to "Pounce"

    A property is "distressed" when it is being listed by the financing institution or is currently under an order of sale due to foreclosure. In these instances, the property is usually "priced to move", as the bank has little to no interest in hanging onto the property any longer than necessary.

    Unfortunately, the same dynamic that leads to these opportunities also makes it incredibly difficult to find the financing to purchase the property, putting real estate investors in a dilemma. With banks refusing to offer up capital, how can they expect these properties to move? This funding gap has created a growing hard money lending industry that has taken the industry by storm.

    Hard Money Lending Basics

    Hard money lending offers those who have capital a wonderful investment opportunity, while providing those without capital the opportunity to turn healthy profits in distressed properties. There are several different perspectives on the hard money industry, so let's run down a few key components to help you determine whether or not investing in such endeavors is right for you:

    (1) Valuation and the Loan

    Hard money loans are contingent on the appraisal of the property. Because the lending institution will only offer around 70% of the total valuation, a borrower will want to be certain that the appraisal is accurate. This hedges the lender's bet on the high-risk nature of the loan, as the property is then placed as collateral against the loan itself. Should the borrower default, the property is then turned over to the lender as repayment.

    (2) Protecting Yourself as the Borrower

    Those interested in acquiring and "flipping" locations using hard money should be well-informed in the various nuances associated with the property's value and the conditions of the loan. One must be certain that they have property appraised the amount of WORK necessary to restore the property, if necessary, as these types of "surprises" can often lead to a financial nightmare. Fortunately, however, the lender doesn't want the property either, so they will likely be quite diligent in making sure that your proposal for profit is a sound investment - it just never hurts to get another opinion on the work required!

    (3) Convenience vs. Interest Rates

    Distressed properties provide great opportunities, as we previously mentioned, but in order to capitalize, time is of the essence. One of the biggest necessities is the ability to secure funding quickly. Hard money lenders will usually have the ability to setup an appraisal and provide funding in a matter of days, whereas standard banks can take weeks! This, alone, can ensure that your eye for property potential isn't thwarted by another investor that has deep pockets...

    There is a price to pay for this convenience, however - hard money loans often carry higher interest rates than the standard bank alternatives. This should come as no surprise, as the risk is far greater for a hard money lender, given the propensity for "speedy" approvals.

    Distressed = Discounted!

    Distressed properties often come at a steep discount, as the lenders are simply trying to unload them and recoup their initial investment. Those that understand how hard money lenders can assist in securing quick capital can take advantage of newly found opportunities, improving the ever-important bottom line.

    Today's real estate climate may have warmed a little, but don't buy into the notion that things have recovered. Banks are still sitting on countless properties, and are actively seeking investors to take them off of their hands. Those profits could be yours - you just need to understand the hard money sector!

    13 Jul 2014
    5 comments

Monday, July 7, 2014

How to Become Successful in Obtaining Car Finance?


http://www.callinoffers.com/lp/4177744578/http-ficoscore-com?ppcpn=8554095036
An automobile is not just a means of communication. People are passionate about it and their love for the four-wheeled beauty is eternal. If you want to buy a car of your own, here's some help. The car financing guide will provide you with information about the entire process. It will aid you in obtaining a successful finance deal. It includes a list of factors that you should consider before making a decision. So, let's start.

Be Ready

Financing a car is not like buying a new pair of shoes or a shirt. You will have to be ready with a few things.

Borrowing Capacity

Good things come to those who wait and prepare. So, don't think you can find your favourite car and the perfect loan program in a day. Before you start looking for your new or used car, you must sit and calculate your budget. Know how much you will be able to borrow. Also, ascertain your monthly payments. You can use online calculators for this purpose.

Documents

A. For PAYG Employed Applicants - Copies of recent 2 pay slips and the Group Certificate for last financial year are required

B. For Self-Employed Applicants - Copies of the last 2 years Tax Returns including full financials

Deposit

The car dealer may ask you to pay a deposit so that he can reserve the car for you. Deposit is ten to twenty per cent of the car loan amount. It is not a small amount. So, you should spend some time in getting together the money for it.

What's available?

Before you start searching for the perfect car loan package, you must have some basic knowledge of the car financing options that are available in the market. There are two main sources of car financing.

1. Car Dealer Finance (i.e. provided by the car dealer)

2. Alternative Car Finance (i.e. provided by banks, credit unions, finance companies, etc.)

After you decide on the source of financing, you will have to choose the car financing product. There are a number of car financing options to consider. To make your decision process easier, here is a list:

Personal Lease

It is an ideal option if you are using the car for personal purposes. The lease term can vary from one to five years. It is available with both fixed and variable interest rate. Its rates are lower than other car finance products. It is possible for you to select the residual value and opt for lower monthly repayment.

Car Loan

A car loan enables the lender/credit provider to take security over the car that you are buying. It helps them in protecting their investment. To get approved for a car loan, you must purchase your vehicle from a licensed car dealer. You have the benefit of choosing a long-term loan (up to seven years) as well as the residual value.

Personal Loan

These loan packages can be secured or unsecured. If you opt for a secured one, it won't be secured against the car that you are buying. The interest rates are slightly higher but, you get benefits of flexible loan terms and simpler approval requirements.

Chattel Mortgage

It is an ideal option if you are using the car for business purposes. The lender will use your car as a security. Sole traders, partnerships, companies, trusts, and ABN holders use this option.

The loan term ranges from one to five years. It has low-interest rates. The monthly payments on the chattel mortgage option are eligible for tax deduction.

So, these are the available options. Once you choose the car financing option, you can apply with a lender or dealer. But, don't be in a hurry. Take ample time in deciding on the things mentioned in the car finance guide. It will help you in choosing a profitable and beneficial financing package.

Remember that Rome was not built in a day.

Don't know where, when and how to start seeking your car finance solutions? Singh Finance's professionally qualified and expert finance brokers will find you the perfect car finance solution package at the right price.

Contact us today on 855-409-5036 and make an appointment to have an obligation free assessment.

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