What You Should Know BEFORE Applying For a Mortgage

The purchase of own home is a dream of most of the people, but it is difficult for the common men to afford the prices of individual houses or apartments. The option for taking a mortgage loan is the best way to enable these people of mediocre income to buy their own residences. They can repay the money taken as mortgage gradually over the years while living in their own homes. However, it is essential to know certain vital factors, before a person proceeds with the application for a mortgage.

Main aspects of taking a mortgage loan for buying house

 Know about the rules of all mortgages – Mortgage is available from different banks and other financial organizations. But each of them has their own terms and conditions about granting mortgages to the customers. So it is essential for the applicant to do a research online, by checking the rules mentioned on the website of each local financial company, as well as the reputation of these organizations.

  • Decide the preferable mortgage duration – Generally, the mortgages are granted for 15 years, 20 years or 30 years. The longer is the duration of repaying the mortgage loan, the lesser will be the interest to be paid by the borrower. So if the financial condition is not stable enough, it is better to opt for mortgage plans of lengthier durations.
  • Opt for the type of mortgage – The mortgage should be either in a fixed rate that does not change within the entire term or may be in the adjustable rate that can change according to the financial condition of the market. The adjustable rate mortgage is likely to decrease the interest sum later, which is not possible in case of fixed rate one. Some financial organizations provide some reward points to their customers that can be used for reducing the interests.
  • Keep in mind all the related expenditure – The loan receiver needs to give good sums of money for the paperwork, fees of the mortgage agents and many other relevant charges at the closing of this deal, apart from a down payment. So they need to be ready for bearing all these fees if the seller of the chosen house is not willing to pay any of these charges.
  • Check eligibility of the borrower – The money lending company will always check the credibility of the mortgage applicant, before granting him the required mortgage. The yearly salary of the applicant should be satisfactory enough for granting the asked sum of the mortgage. The applicant’s credit score will also be checked to see if there is any kind of dispute in his credit history.

When the borrower has decided on all factors for taking a mortgage, the application should be filed in with all the necessary documents, to get the money fast for the payment of his dream home.

Property let insurance – a quick run through

If you buy a house, apartment or building (a property to let), you’re running a business activity which the main goal is to make the profit from it by collecting the money from your tenants.

In this article, you will see how and why to let property insurance is important and what it differs from the standard form when the insurance protects the property normally when it’s in continuous use by the owner of tenants.

Property let insurance – when other is not suitable

The difference between this type of insurance and the standard is important for insurers as they consider that there are different risks for the property when it’s occupied by tenants than for one that is exposed to the normal use.

When tenants rent the property, it’s necessary to have the landlord or let property insurance, as a standard form are not suitable anymore.

If you don’t have the let property insurance for the apartment, house or building you’re letting, any claims for damage or loss will be unjustified and likely rejected.

What let insurance covers?

Because of many different landlords, there are also different types of let or landlord property insurance.

A typical let property policy include the following features:

Building insurance

As the building is the primary asset for the buy to let business, you need to protect the whole structure and its integrity. This type of insurance also protects your building from highly dangerous and destructive risks as fire, floods, storm damage, the impact from the surrounding objects as trees and branches and cars, vandalism and theft.

The total insurance of the building protects it from the worst scenarios where the property is completely destroyed and needs to be rebuilt.

Insurance of contents

If you’re a landlord, you surely have some contents that need to be protected and insured from loss, theft or damage.

Liability insurance for landlords

When you own the property, you have the liability to ensure that no one inside and outside your building will suffer from the injuries (tenants, visitors, workers) or damage their own property.

Rental income loss insurance

If you own a property, you already know that it’s a business and if a sufficiently severe insured event damages it, your income may stop because the property that you currently have is impossible to inhabit. Most of the landlords in such cases can get the compensations for their loss.

Bitcoin IRA Rules and Other Important Things to Watch Out For When Investing

The meteoric rise of Bitcoin in the last 12 months was something which caught many investors by surprise. Owing to that spike in investment for not just Bitcoin but other cryptocurrencies too, many people are now looking to get involved in investing in this new and exciting financial development. In order to do this, thousands are turning to their IRA with the idea of using their accounts to fund cryptocurrency investments. There are however, many Bitcoin IRA rules and requirements which you must adhere to, as well as many important things which you must watch out for if you plan on utilizing your IRA to invest in the crypto market. To help you better understand what is required from you, here are the top rules and watch outs which you need to be aware of.

Misleading Statements

It can be easy to get confused with some of the syntax which is used when discussing Bitcoin or cryptocurrency IRAs. For example, virtual currencies are considered by the U.S. as property for federal tax reasons. The IRS does not specifically mention Bitcoin IRAs under its 2014 ruling on virtual currencies, but this is because it intentionally doesn’t mention every investment type available. The key point here is that Bitcoin is eligible for inclusion in IRA investments, as long as such investments are done in a way that complies with IRS regulations.

Not All Bitcoin Wallets Are Made Equal

A Bitcoin wallet is required to store your currency but it is important that you don’t make the mistake in thinking that they all offer the same thing. For example there are some wallets which allow you to store multiple cryptocurrencies, whereas others only support Bitcoin. There are lots of other pros and cons which you need to be aware of when weighing up which digital wallet you will use, so make sure that you check them all out before you decide which one to use.

Price Isn’t Everything

The DIY model when setting up your Bitcoin IRA is not always recommended and unless you know exactly what you are doing, it is always better to use a service for this. There are many companies which can offer you a full service of turning your IRA into a Bitcoin IRA, all with varying benefits and various prices. The key however is not to assume that the cheaper option is the best option, in many cases they are not cheaper in the long term. Some companies will offer the chance to sell Bitcoin at cheaper prices than the market value but there are usually strings attached to these deals such as purchasing of mining equipment or lengthy fulfillment terms. There are higher fees attached to place Bitcoin in an IRA over the likes of securities and traditional assets, so this needs to be taken into account too. Again, make sure that you shop around and weigh up the terms and conditions before you decide on who to use.

Are Electric Bikes Actually Cost Efficient?

  Electric bikes were previously considered as just fun objects that the youngsters wanted to ride for gaining extra pleasure. But now this kind of bike is gaining popularity among the common people for many proven advantages. Actually, a high-power motor is fitted to a normal bike to transform it into an electrical bike. Thus, this bike can run faster than the ordinary ones and can pick up the speed till 15 mph, as higher speed is not permissible in the UK. Though its cost is quite affordable for most of the buyers, people do not hesitate to pay the higher cost than ordinary bikes, due to the cost-efficiency of an electric bike.

Most lucrative facilities available from electric bikes

 No extra maintenance cost – The electric bikes need only the extra expense of the batteries to supply electricity to the wheels. But this expense is quite negligible compared to the better speed and other facilities obtained from this kind of bike. As the other mechanism is same as the normal bikes, the maintenance costs also found to be the same.

  • Much higher speed – The electric bikes can be driven at much higher speed than the ordinary ones and this speed is almost matching to the speed of a car while driving on a road with busy traffic. Moreover, it is easier to manage way with a bike among too many vehicles, while maintaining the speed due to this battery-operated bike.
  • Can run on any rough terrain – The electric bikes are powerful enough for driving through the rough road surfaces of even the hillside. Moreover, this bike is perfectly safe for riding through the uneven roads and never causes accidents even on high speed.
  • Good for maintaining fitness – It is known that bike riding is a good exercise and the high speed of the electrical bike stimulates the body muscles in a better manner. Moreover, the enjoyment of bike riding encourages people to use this bike more frequently, which benefits their health.
  • Provides more pleasure – The easiness of riding the electric bikes causes less effort from the biker and thus, much easier to drive even in hot summer days, without causing too much sweat like it would have been in case of ordinary bikes. Moreover, people reach their destinations in lesser time than imagined on bikes, making their rides more enjoyable for the bikers in all weathers.

The electric bikes are much safer than the cars or scooters while providing the same speed and joy of riding those vehicles. So now more people are inclined to buy these bikes that can be sold later with better resale value than the ordinary bikes.

 

Four Ways You Can Help Your Family Back Home When You’re a Poor College Student

Studying abroad has many benefits that include:

  • Enhancing your awareness of other people and cultures
  • Increasing the quality of your academic experience
  • Advancing your career by obtaining global knowledge
  • Enhancing personal growth by learning more about others

Unfortunately, nowhere on that list will you find making loads of money or getting rich. Being a poor college student is a right of passage for many, but it can be even more stressful if you’re a student in the U.S. and you want to help your family back home.

Here are a few ways you can support your family in e.g. Guatemala with the little cash you do make in your spare time.

Transfer Money

When it comes to helping family back home, there really isn’t anything better than cash. It allows your parents, brothers, and sisters to pay for the things they need when they need them.

Just make sure you choose a transfer service that offers great exchange rates, small fees, and delivers your money on-time.

Pay for Everyday Necessities

You may not be able to send cash, especially if your parents insist on sending you what little they have! Instead, you have to take a different approach. Shipping everyday necessities to your parents might be a better option.

You can mail necessities to them, or you can order items and have them delivered to their doorstep. You can send everything from body wash to tissues, depending on the needs of your family.

Send Care Packages

Sending necessities is a great way to make sure your parents, brothers, and sisters are taken care of when you’re away from home, but they’ll probably appreciate a care package even more.

With a little practice and forethought, a care package doesn’t have to cost a lot of money, but it can have a huge impact.

Consider packing candies and treats that they can’t find back home. Games, music, and clothing are all great things to send that your family is sure to love.

Tell Them About Your Everyday Adventures

It isn’t all about money. Your family cares about how you’re doing, even if you don’t have a lot of money to send. That’s why it’s important to include them in your everyday life.

Stay in touch through text messages or set up a weekly Skype session. A phone call is always a great way to connect, as is posting or emailing pictures of your surroundings.

If all that high-tech stuff is too much for your parents, even a plain old letter will do. It’s even better if you can send a postcard or pictures right to their doorstep!

Your family is doing everything they can to support you while you’re away from home, and you should continue to support them while you’re away. With these tips, no matter how much money you have, you can take care of your family when you no longer live under the same roof.

Champagne Taste But Lager Money? Are We Living Beyond Our Means in the UK

Nowadays, the prices of house, car and many essential items have shot up enormously in the market of the UK. Thus, common people find it very tough to afford the high costs of these things, unless they borrow money from the banks or other financial institutions. These financial organizations offer lucratively low-interest rate for their loans granted in various fields, thus encouraging people even more for taking loans. Therefore, the whole of the UK is now reportedly full of borrowers, who have taken some kinds of loans from the financial companies.

Few important facts about the craze for taking loans 

  • As per the recent survey that was done across the country, every household in the UK now owes averagely more than £50,000 debt, including their home loans or mortgages.
  • The lure for a high-standard modern living has forced common people of mediocre income to fulfill their desires of buying expensive items by taking loans in large amounts. Thus, most of them go much beyond their affordability to keep up with the fast pace of modern times.
  • The expenses have risen to the sky-high limit in many normal households, compared to their limited income that has not increased at the same rate. Thus, it becomes difficult for the people to pay off their debt easily.
  • People are more inclined to seek loans through their credit cards and also may ask for unsecured loans, where no object is produced as a guarantee. As per the survey that was done in 2016, the approximate amount of net borrowing in the UK has risen to £34 billion, which is an alarming figure for any developed country.
  • The amount of personal debt has grown at so high speed all over the country that now the ratio of debt to income in a common household was averagely 133% in 2016.

Thus, now the government of the UK has taken some effective steps to eradicate this problem of heavy debt from the life of the common public. There are some measures taken for helping the debt-ridden families, who are struggling to meet all ends with the repayment of their debts. Some helpful services are offered for the families that have borrowed and spent beyond their actual means, which many people have readily accepted. Some government bodies are also spreading financial literacy among the public, where they are taught about all the features and dangers of taking too many loans for simply upgrading the lifestyle.

4 Tips For Making Money Off Your Blog From Day One

Starting a blog is something almost all of us have the capabilities to do, however, making money off it is an entirely different ball game. While most of us think revenue will come with time, ensuring profit from day one will give you a much better advantage moving forward with your business. And if you’ve been curious about how to make money from your blog, then there are a few things you should consider. Check them out below:

Create An Amazing Brand

If you’re going to be creating a blog, then one of the first things you need to focus on is the branding aspects. Not only will this be how people separate your blog from the competition, but what it stands for and why they should follow. After all, a big part about not only having a blog, but a brand is that it’s a symbol for a common belief or culture. And if you’re genuinely going to make money from your blog, this needs to be a top consideration.

To begin, ask yourself what type of personality that your brand would have, as well as what that represents. A big aspect of branding is that it’s just as much science as it is storytelling. While you can have a logo that people understand, a big part of that recognition is also repetition. For example, LucidPress explains that color increases brand recognition by 80 percent, which goes to show how much the little things can add up. Work with some logo creators online to see what identity you could build, since having a great brand means creating a great blog.

Have A Monetization Plan

Although it might sound obvious, a lot of bloggers make their monetization plan a “worry about later” problem. However, doing that not only limits the value opportunity from the start but potentially runs the risk of having it never becoming a part of the conversation, getting wrapped into strictly creating content. If you’ve never considered how to make money with your blog, it should become a top priority as you get more involved.

Get Social With It

As it goes with most bloggers, being active on social media is a top priority to ensure engagement. This not only means getting people to visit your blog but interact with you on social platforms, lending your voice consistently to a multitude of platforms. And although you’ve probably already been working on social, it’s also something that is going to need quite a bit of attention to if you want your blog to thrive.

To begin, start looking at where the different audiences for your website are as well as how you can reach them. For example, as noted by Pew Research, 73 percent of Twitter users also report using Instagram. Being able to hit find repetition can be a great way of doing outreach. Furthermore, a big part of social is starting a conversation with those that follow you, allowing them to shed insights on what’s going on as well as how they can learn more. Remember, as a blogger, your main goal should be to help spread information; if you’re able to capitalize on that with social media, it will be much more powerful in the long run.

Keep Consistent With The Visuals

Finally, even if you think it’s something that will require too much work, providing visuals for both your social and blog posts will increase engagement tenfold. In fact, according to Hubspot, 37 percent of marketers say visual content is one of the most important mediums for their business, which makes sense considering how much more people can digest and form a reaction to it. From there, your content has much spreadability; however, first, we need to talk about your strategy on how to get there.

A big part of producing visual content is either having the talent yourself or bringing on someone that does to both photography and design, as those two core elements can go a long way. Furthermore, having a consistent track record and aesthetic is also a crucial element to look for in your hiring process, especially if your identity is early on. Remember, while no one said your identity has to be perfect from day one, it’s also something that should be developed over time to ensure success.

What are you most excited about in launching your blog? Comment with your answers below!

Using Investments to Support Your Start-Up

Ideas that are truly inspired are often considered to be genius. But, if a genius idea remains merely an idea, it doesn’t do anyone any good. The good news in today’s culture is that regular people with great ideas can get their ideas funded instead of stolen by large companies. People have access to crowdfunding and have easier access to money in today’s world.

Small businesses and entrepreneurs can easily get a short-term loan or secure some other type of funding. The most important thing to realize in today’s connected world is that many hands make small work. This applies to methods of gaining funding via crowdsourcing or borrowing.

Crowdfunding

The advantage that crowdfunding brings is that if enough people support your idea, you can get the money for your project without having to pay it back. There are costs to crowdfunding, usually a percentage, and often kickbacks are offered to incentivize potential contributors, but if your idea meets the necessary threshold, your project is funded. No installment payments to pay back the money or pressure to make enough to outpace the terms of the loan.

The main disadvantage of crowdfunding is that you might not get any money, because it is a zero-sum endeavor. And you must put your idea out into the public, perhaps even before you are ready. As for the funding aspect, it is essential that you present  your idea in a way that moves people to contribute. Usually, you want people to support your idea with vigor, and if your idea is solid, they will do so even without incentives.

Another disadvantage is that you must expose your idea to the public. This requires that you patent your idea and gain the exclusive legal right to produce it. This can be expensive, and if mistakes are made, the idea could be stolen. This also puts your production on the clock as soon as it is exposed to the worldwide web. Delays could mean losing out in the competitive world of business.

Borrowing

If your product can produce the kind of revenue to cover the expense brought on by borrowing, the internet has made getting venture capital easier, even for companies not based in Silicon Valley. Micro-lending and broad-based lending are becoming available to people with good ideas and a plan to implement them.

What is exciting about this possibility is that the standard requirements for lending do not constrain lenders. The old saying is that a banker is someone who will give you an umbrella when the sun is shining and take it back if it rains. With the new lending models, it is less important to show that you do not need the money than it is that to show that you have a plan to use the money responsibly and therefore repay the loan within an allotted period of time. One huge advantage to these new lenders is that they significantly outperform old methods of crisis borrowing such as credit cards.

Credit cards have funded startups like AirBnB and allowed them access to the capital they needed to get off the ground. But had they not enjoyed a significant wave of fortune when the Democratic National Convention in Denver, Colorado sold out all the local hotel rooms. Delegates, reporters, supporters, and unrelated travelers were needed to find alternative forms of lodging during the event. Airbnb was happy to fill the need, and the event was successful enough that they were able to pay off their credit cards and turn their attention to more significant sources of support. Now, reasonable terms can be used instead of the exorbitant interest paid to credit cards to fund your startup.

Conclusion

New business ideas spark spinoff ideas which continue to spin off and benefit the economy, providing more business opportunity for entrepreneurs. There are many ways to take advantage of this exciting time. Crowdfunding can be a great resource, but your idea must be compelling enough to reach its threshold, and you must be willing to expose your plan to the world before it is fully realized.

New forms of funding can alleviate the stress of not reaching the crowdfunding goals for your project, or from being ineligible for conventional borrowing. If you have an idea pursue it. Do not let yourself become the guy with a genius idea who complains to the bartender that he thought of that billion-dollar idea first.

If you own a business, what are some creative ways you have found to secure the needed funding to do business? Share your best advice in the comments below. Your insight could give a small business owner the advantage they need to succeed in their industry.

4 Industries We’d Love To See Crypto Help Out

With the explosion of crypto, there’s been numerous speculation about what industries can utilize blockchain. Yes, from agriculture to finance, a lot of entrepreneurs have been looking to see how they can implement blockchain technology into their industry. However, as with any tech craze, there’s not always going to be a fit, which is why we’ve listed a few of our early favorites and who we think will be successful with blockchain. Check them out below:

Lending

 If there’s one industry that could definitely use the help of blockchain, it has to be with lending. According to SuperMoney, there was approximately $1.38 trillion lent last year in the US alone, which blockchain has a lot of potential to disrupt. Why? Because not only could lending be down in cryptocurrencies, but the process to get funded could be done on the blockchain as well.

Where blockchain could come into play with lending is the ability to give people more favorable deals on their interest rates, especially since they’ll be contingent upon the market. Additionally, the verification process of approval, as well as the execution of repayment can all be done in the blockchain, saving a tremendous amount of time.

And lastly, with how secure the blockchain is as a file-sharing mechanism, this keeps financial records protected much better than traditional channels. Yes, crypto could be the perfect way to gain financial refocus in a very immediate future.

Contracts

 As the blockchain is all about the execution of smart contracts, the very structure of it alone could save numerous parties from the costs of drafting and execute a contract. Not only will this create an autonomous system that doesn’t rely on as many actors, but it additionally provides a level of transparency and security currently unmatched. And as noted by lawyers.com, with your average lawyer costing $100 to $400 per hour, blockchain just might be the perfect solution to saving big.

While there have been some early players in the blockchain space working on contract protocols, it’s going to be interesting to see how this develops. Although the blockchain won’t completely eliminate the need for lawyers or contract writing, it definitely will make the execution and follow-up of contracts much more efficient. All-in-all, smart contracts can make a big difference soon and should be something to keep an eye on in the next few years.

Asset Management

According to Deloitte, the asset management market is worth $40 trillion the US alone, which is a massive industry to try to enter. However, for the blockchain, this is much more attainable than you might imagine. After all, a lot of assets gain their value based on guesswork, with a lot of folks fudging the numbers around to prop up the price. This is one thing that will wildly be transformed by the blockchain.

Considering that the blockchain provides a receipt of proof-of-stake, every asset can have a chain that tells what’s been done to it and when. For example, the renovations on a house or piece of property, where you have a specific receipt tied to that asset where you know what was done and when.

To be successful with this, there has to be a form of backing or security; this is what stablecoin is trying to solve. All-in-all, expect asset management to become heavily influenced by the blockchain soon, providing a chain of receipts that help define the value.

Art

 Finally, if there’s one industry that’s been a great early use case for blockchain, it has to be the art world. Specifically in the world of digital art, until recently, there hasn’t been any proof of ownership on a digital file. As anyone can take an artists work off their page and post it on Instagram, the blockchain prevents that by providing a proof-of-stake/ownership on who the original creator was. And although a simple application of blockchain, it’s also brought about some surprising figures thus far.

Because the blockchain verifies that a digital file is a one-of-one, this creates scarcity, which in turn increases the value of the art. For example, as noted by Motherboard, a Rare Pepe (the popular internet meme) recently went for $38,500 at an auction, which is a staggering figure for what most would consider a meme. However, as a one-of-one collector’s item, this price point proves it’s just the beginning of digital art on the blockchain.

What are some industries you’re excited to see crypto help out? Comment with your answers below!

Debenhams MasterCard: Is it Worth It?

If you shop in Debenhams you may have been asked to get a Debenhams Mastercard. Before you get one, it is vital to know what it can do for you and if it is the right choice for you. Understanding the benefits and repayments of the Debenhams MasterCard is vital before you start spending, as not keeping up with payments can increase the charge each month.

What Is the Debenhams MasterCard?

The Debenhams MasterCard is a credit card that gives you more. You can spend your MasterCard in Debenhams, where you will get more points, as well as anywhere which accepts MasterCard. If you are unsure, they will usually have the MasterCard logo on their cashiers or you can check online for which retailers accept MasterCard. Every time you spend on your card, you will earn points which can be converted into many great benefits. If you shop in Debenhams often, or even work in a branch, it could be worth your while applying for a MasterCard. Jobs at Debenhams are varied and you can do everything from customer service, to working in the restaurant to management.  The company also has plenty of graduate jobs for those with the appropriate qualifications.

How Does It Work?

Each time you shop, you earn points. This includes in store or online, at Debenhams or any other retailer that accepts MasterCard. You will earn 3 points for every one pound you spend in Debenhams and one point for every two pounds you spend elsewhere. The more you use your card, the more rewards you can gain. Every three months, the rewards you have earned will be sent to you in the shape of Debenhams reward vouchers, which can be spent in any Debenhams store. You get many other benefits such as free delivery, cheaper food at Debenhams cafes and cheaper cash exchange when changing money in any Debenhams cash bureau.

Is It Worth It for Me?

There are many things to consider before getting a credit card. If you shop in Debenhams a lot, instead of paying for things straight away, it could be beneficial getting a Debenhams MasterCard as you will gain rewards for spending at Debenhams and other stores, making your spending more worthwhile. It can also increase your credit rating spending on the MasterCard and then paying it back each month rather than paying for the transaction straight off. If you know that you will pay it back each month, a Debenhams MasterCard is totally worth it. If you know that you may get carried away, it may not be worth the risk of spending more than you can pay back. Only you can decide for sure if it is worth it for you, but if you can use it safely, the rewards are great for any Debenhams shopper.

The Debenhams MasterCard could save you money in the long term as you get vouchers back for the spending you would have done regardless, as well as improving your credit score. You should always be careful with any credit card and ensure you make the payments on time, so perhaps have a savings account in which you save what you need to pay back each month to make the payments.

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