Mortgage boom or bust in the UK

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Apr 162024
 

Recent talk within the housing market of a possible slow down, marking an end to the mini boom which has been gradually pushing house prices up across the country, seem to have been premature. The latest figures from the British Bankers’ Association (BAA) indicate that mortgage lending for May has just received its biggest boost for more than two years.

David Dooks, BBA director of statistics, said, “May’s rise in net mortgage lending, the largest monthly increase since the rise of £6bn in April two years ago, shows the mortgage market to be very much alive at a time when annual house price growth is strengthening. Overall unsecured lending rose more than the recent monthly average, but a notable aspect within this was a second large net fall in credit card borrowing in the last three months. This contrast between secured and card borrowing reflects customer sentiment.”

The upturn in mortgage lending indicated by the BAA concurs with other recent surveys from the UK’s biggest mortgage lender, the Halifax, which shows house prices increasing again following a period of stagnation.

Howard Archer, from Global Insight economic consultancy, announced that the robust levels of, “Mortgage lending and approvals in May indicate that reports of the death of the ‘mini-boom’ in the housing market are premature.” He also suggested that, “House prices will see further strength in the near term at least, after showing recent tentative signs of coming off the boil.”

This is good news for the main mortgage providers, however research from Direct Line Mortgages indicates that it is not only standard mortgage companies that are set to reap the rewards from this increase in house buying. The online mortgage market was singled out by Direct Line for a huge upturn in popularity; with nearly twice as many people than previous surveyed stating that they would apply for a mortgage online if they knew they were getting the cheapest deal available.

“We believe that the online mortgage market is ready for strong growth in a similar way to the increase in recent times of grocery, music and book shopping online,” said David Dyer, commercial director for Direct Line Mortgages.

“Many people realise that the best way to achieve value for money is to go online, as they do currently when taking out a personal loan. That same philosophy will increasingly apply to buying your mortgage,” he added.

Although people looking for a mortgage appear to value direct personal contact in the initial stages of the mortgage process, Direct Line see consumers’ beginning to make the switch towards internet providers. Following the preliminary advice, consumers are starting to do their own research on the best deals online, through mortgage comparison sites like Moneynet, rather than simply accepting the deals available through the highstreet channels. Large banks such as Barclays and the major mortgage companies which maintain online facilities, along with ultra competitive smaller online mortgage providers are liable to be the biggest winners from the shifting attitudes.

Analysts are however doubtful whether house prices can continually sustain these patterns of strong increases for any extended periods. The affordability of property purchasing has, for many prospective buyers, already been affected adversely by the long term increases in house price inflation which has again reverted to above average earning growth levels. Many industry forecasters are again pointing towards the concerns expressed by housebuyers, especially first time buyers, as evidence of an expected rise in UK interest rates by the year-end.



Disclaimer:

All information contained in this article, is for general information purposes only and should not be construed as advice under the Financial Services Act 1986.
You are strongly advised to take appropriate professional and legal advice before entering into any binding contracts.

Stop Burning Bridges…Or Your Career Might Go Up In Flames!

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Apr 052024
 

Hey, nobody said the music business was going to be easy. It truly is a jungle out there filled with: snakes, rats, rabid carnivores, sharks…well, you get the picture. In the course of your musical journey, there will be confrontations, arguments, misunderstandings, and miscommunications. You’ll get jerked around, screwed over, ripped off and disrespected. So, you want to be a rockstar? Welcome to your nightmare.

But this is also a business of good people, who’ll give you opportunities and chances and help you out when you least expect it. That’s why it’s so important that you, as musicians and as a band, act professionally and respectfully regardless of the behavior of those you encounter. You don’t have to be a pushover and of course, you have a right to defend yourself against the questionable actions of others, but the music community can be a very small town and the behavior you exhibit will follow you throughout your musical career.

On the flipside of that, there are musicians out there who, either knowingly or unknowingly bring negativity on themselves through their own actions. Short temperedness, egocentricism, brazen entitlement, compulsive lying and just plain old psychotic behavior can brand your band as troublemakers and deprive you of important opportunities that you need to move forward in this business.

So, how can you make sure that you’re doing onto others as you wish they would do onto you? What can you, as musicians do, to eliminate aspects of your personality that may be causing bad blood between you and the people you run across on your way to superstardom?

The following are a few tips that may help you to make sure you’re exhibiting professional behavior at all times:

1.) Be Timely And Courteous—Whether you’re playing out live or emailing booking inquiries from home, there is never a substitute for courteously or timeliness. At gigs, show up when you’re supposed to, be friendly, treat others with respect, set up quickly, end your set on time, break down quickly, be mindful of other bands on stage, compliment those around you and don’t forget simple things like, “please” and “thank you.” When you leave a positive impression in people’s minds, you’ll be high on their list when it comes time to fill an open booking slot, recommend a band for a review, etc.

2.) Make Sure Your Actions Match Your Words—It’s such a simple thing but you’d be surprised how many musicians seem incapable to doing what they say they’re going to. If you book a gig, show up and play. If you say you’re going to bring twenty friends and fans to your gig, do it. If you reserve an ad in a local music magazine, pay for it. If you write a check, make sure that it doesn’t bounce. If you say you’re going to send out a press package or a CD, mail it. It is true that many people in the music business are distrustful of bands that they don’t know, and with good reason in many instances. Build your good reputation in the industry by proving that you will do what you’ve promised. Start small. Once you’ve gain people’s trust, you’ll see more and more doors opening up for your band.

3.) Take The High Road—It may be tough but there’s nothing to be gained from returning someone’s improper behavior with a heap-load of your own. That doesn’t mean that you need to let every industry slime-bag from New York to LA ride roughshod all over your music project but there are ways to deal with the negative behavior in this business without branding yourself with a label equally as negative. Sending firm yet professional letters, making intelligent and informed phone inquiries and, if need be, taking legal action against those who have acted inappropriately are ways to handle unpleasant situations without drawing negative attention to yourself. Public scenes, yelling and screaming, long-winded and ranting emails, threats and accusations and spiteful actions may make you feel vindicated but it may chase away the good people as well as the bad and that just sets your band back.

4.) You Can’t Undo What You’ve Already Done—It’s much harder to undo past bad behaviors, or reverse negative reputations than it is to foster positive ones. It’s best when starting out to avoid acting rash as a rule. If you have a band member that is incapable of keeping his or her cool, perhaps it’s time to rethink his or her place in your group. The entertainment industry has a long memory and a spiteful tongue. Make sure when people speak of you, they’re speaking well.

This may all seem like such common sense that it isn’t even worth mentioning but you’d be surprised how many shows, interviews, tours, and record deals have never materialized because of burned bridges. You may have talent and great tunes, but if your attitude sucks you’ll get passed over time and again. No one wants to work with rage-aholics, egomaniacs or crazies. Don’t let anyone think that’s what your band is about. Sure it’s important to be creative geniuses but if no one likes you, you’ll be performing your masterpieces in the garage for grandma and her Pomeranian. Get smart and treat people right and you may find yourself rockin’ all the way to the bank.

Top 5 Mistakes That Mean Immediate Failure as a Commercial Real Estate Investor!

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Apr 022024
 

In any business, one of the best ways to avoid failure is to avoid the things that cause failure. This can be done by identifying the things that cause failure, and avoiding them at all cost!

It is normal to not know everything when getting into a new business, as it takes extensive practice and experience to learn what mistakes to avoid. It is very helpful to have a mentor or someone to identify these mistakes that you should never make.

Here I have identified 5 very serious mistakes that could land you in deep commercial real estate trouble! I have learned by experience, and, unfortunately, not every experience was a good one. If you can avoid learning the hard way, then take this advice, so you do not have to experience the hardships of making any of the following mistakes.

Top Mistake #1: Quitting Your Day Job

It is true that commercial real estate is a solid, tried and true business that can be instrumental in creating the lifestyle of which you have always dreamed. However, when you are just starting out, it can take one to two years to see a profit from your investment (unless, of course, you specialize in quick turning property).

The commercial real estate deals that are going to make you set for the rest of your life involve long term commitments, unlike that of residential, single family houses.

The key is to not stop your monthly cash flow while beginning to invest in commercial real estate. The bills still need to be paid until you have a few commercial real estate deals under your belt, and you can afford, without peril, your everyday living expenses for you and your family.

There will come a time, hopefully sooner than later, that you will not have to work another day in your life, unless, of course, you want to. However, until that day comes, make sure you are making enough money, either through a job, other business, or the much more short term commitment of residential real estate.

Top Mistake #2: Not Hiring an Attorney

Having legal help is one of the most important aspects of commercial real estate investments. Things will go wrong, no matter how careful and astute you are. Legal matters can evolve in places you never think they would, and they can be very costly. In fact, a poorly written contract, an overlooked item, or a difficult buyer/seller, can take you for all that you’ve got.

We have a saying around our office, which is “Hire the best attorney you can’t afford.” A good commercial real estate attorney can keep your business, investments and personal assets safe from any problems that might arise. Whether you use paid legal, or have an attorney that you work with closely all the time, get a good, and yes, expensive attorney to get the job done right the first time. This is an area in which you must not compromise.

Top Mistake #3: Performing Tasks You are Not Qualified to Do

Commercial real estate investors just starting out and those who are seasoned must never do the work of a professional to whom you can pay small amounts of money when compared to the amount of money that can be made on a single deal. It is very tempting to save every dollar possible and do the work of an appraiser, accountant, attorney, property manager and other such real estate professionals.

Leave these items to the professionals, and focus on what you do best: locate deals, put them under contract, and reap the return on your investment. Leave these otherwise mundane tasks to the professionals that make your life much easier. You must position yourself properly in this business, and doing the work of 20 people is not the right approach. You are an investor. Act like a commercial real estate investor, and perform the duties of a commercial real estate investor. The small amount of money you pay to the other professionals to ensure that your business operates properly is well worth it.

Top Mistake #4: Personally Guaranteeing Large Loans

Non-recourse is the only way to go in commercial real estate, unless, of course, you have millions of dollars to lose by personally guaranteeing large loans. Even if you have millions of dollars to personally guarantee large loans, I don’t think you really want to risk losing it to a deal gone bad.

Luckily for us, both public and private lenders understand that personally guaranteeing a $3,000,000.00 loan is a very risky event. That is why the property itself is usually what guarantees the loan. The property is what has the equity and value, not necessarily the person who owns it. If you do personally guarantee a loan, and the deal goes bad, you could literally lose everything! A simple rule: don’t personally guarantee a loan you can’t cover if something goes wrong because things will go wrong. Almost every lender will negotiate non-recourse with a valuable property. With private lenders it may be a little more difficult. If that is the case, avoid the risk, and find another lender who will work with you.

Top Mistake #5: Falling for Sales Pitches

It is very tempting to listen and hang onto every word a broker, agent, or even an owner speaks about their property in the hottest location, with a super motivated seller, and a great upside potential. Really, none of these reasons are worth any value until they are verified.

Always perform a thorough investigation and verify all claims made by the broker, agent or owner. Never move into a deal too quickly without doing the research! You will be sorry because something will go wrong.

Top Reasons Why You Should Do Commercial Real Estate

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Mar 282024
 

Getting involved with commercial real estate could be the best decision you have ever made. Whether you are currently working within the real estate industry, or are new to the business, commercial real estate is one of the best kept secrets of those already succeeding in the business. The rewards reaped within this industry compare to no other, as you will soon learn.

If you feel commercial real estate is something you are not able to accomplish, I would have to say you are greatly mistaken. With a little knowledge and a great amount of motivation, anyone can succeed in this business. The benefits far outweigh the costs, as you can create a life of which many dream, but never actually experience.

The first great benefit is one that allows you to create a schedule that best fits your personal situation. In commercial real estate you can work full or part-time and still create wealth and equity you never knew was possible!

Commercial real estate can easily be a part-time job that brings in incremental cash flow. You can even start out part-time, and hold a job until you have enough cash flow and money so that, eventually, all you do is commercial real estate.

Commercial real estate as a full-time job allows you to have many benefits such as being your own boss and having the ability to work from home. You can create your very own commercial real estate business and quickly build a strong net worth as well as positive cash flow.

Another great benefit is it does not take years of training, or years of moving up the corporate ladder to be successful. You can start right now, today! You can begin your commercial real estate endeavors whenever you so desire because there are very few barriers of entry to this industry.

Probably the most enticing benefit of commercial real estate is profit. Huge profits, in fact, which can be made with a limited amount of effort. You can make the same amount of money quick turning or selling 100 single family residences as you would make with a single commercial real estate deal. The profits can be astonishing!

It takes the same amount of work for every commercial real estate deal, meaning you must go through the same processes each time. Why not maximize your result and go for the larger returning deals, rather than the smaller ones? Synergy is a key word in commercial real estate, as small changes can yield huge results.

In commercial real estate, your financial investment is very low, perhaps even non-existent. You can purchase property with 100% of other people’s money (OPM), and create large profits for yourself. This is the only industry where there are literally hundreds of millions of dollars just waiting to be borrowed! Find the money and get to investing!
As you can see, commercial real estate meets and exceeds the expectations many people wish they could have in their own career and personal lives. You can make commercial real estate whatever it is you want it to be… a supplemental income or primary career. Take some time and imagine that all these great benefits were yours. How would life be?

If you think commercial real estate is more than you can ever dream of, begin your research and start learning all about it. Find people working in the business, and get acquainted with the investment strategies and methods that can return huge profits in a very short amount of time. Once you truly understand and experience firsthand what commercial real estate has to offer, I know you will look no further for other money-making, equity building, life creating businesses.

Fly on budget

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Mar 232024
 

Looking at the oil prices lately you may decide to skip this year’s vacation because the flight tickets will cost you a fortune. But what about flying for free from London to Barcelona or for just 130$ from US to Germany? This will be perfect deal if you know how to find it.

It took almost a decade after the European Open-Sky Treaty of 1992 enabled airlines to fly anywhere they wished in the EU without government approval to see the business booming. But this phenomenon is observed not only in Europe – low-cost airlines are available all over the world and you can find a comprehensive list and traveler’s tools on www.travelweaver.net.

The low-cost airlines are also known as budget, low-price, discount or no-frills airlines. In order to keep the prices low they provide ticket-less travel, online ticket sales and have no offices internationally; most of them don’t provide free food or beverages as well as in-flight magazines; also they don’t participate in frequent flyer programs and don’t have club lounges. One of the main characteristics of the low-cost airlines is that they have limited coverage and use secondary airports, which are less convenient for commuting.

Although the price looks really attractive there are also some catches and you need to be careful with the low-cost airlines. For example there is no possibility to reschedule the ticket and you will lose all the money if you try to cancel it; the baggage limit can also be lower than on the traditional carriers. In all the cases you need to calculate the price for transportation to the secondary airport and plan for the additional time you will need to get there.

One of the oversea carriers that offer cheap flights is Condor. They offer discount flights from Frankfurt to many destinations around the world. You can fly with them to Las Vegas, Orlando or LA for around 130$ (99 €). There is one more ThomasCook company that offers cheap flights oversee while most of the low-cost airlines like Rynair and Air Berlin offer only intra-continental flights.

The key for cheap travel is to plan you trip early and monitor the prices for some time before you buy. If you go to Rynair’s web site for example you can even find tickets for free depending on when you want to fly. If you have planned your vacation early you may find really good deals with traditional carriers too. Look for flights at least couple of months before your schedule your vacation. Also subscribe for the airlines or travel sites newsletters because then you will receive timely information for deals and offers.

Also keep in mind that the travel search engines do not comprehensively search the Web and retrieve the lowest prices. Some airlines do not permit third parties to book their seats and others are launching a lobbying effort intent on overturning the regulations to advertise the actual price they would charge the customer.

Buying the trip from two different carriers may make sense sometimes if the overall price is lower that the combined price for both of them. Very often for example you can fly very cheap in one direction and need to pay expensive ticket on the way back. Look for prices from other carrier in this case and just combine the whole trip. I personally combined trips from Condor and Continental to fly from Frankfurt/Main to Seattle and the overall fair was less than 300 $ while the traditional carriers like BA, Air France or KLM would have charged me 4 times more.

Also one good source for checking air prices is www.farecast.com which compares the airline tickets and makes projections of the prices. They base their algorithm on a comprehensive analysis of prices from the past. They are pretty new start-up and their coverage is not very comprehensive at the moment but you may consider using them in the future.

Don’t take the conservative approach and rely only on one source of information, Internet allows you to do the research you need to find the best offer and take the most of your vacation.

Home Insurance Facts for you

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Mar 112024
 

A major investment for families and most people is the purchase of a house. Life’s savings or major loans go into this investment and protecting that asset is a necessity. Home insurance coverage is one means of protecting your home. Choose a home insurance policy from the several available policies in the market. Getting the right home owners insurance is difficult. Most standard home insurance policies provide coverage for damage to your home and items in your house.

Cover is provided if damage occurs due to Fire, lightning, smoke, frozen pipes, Snow, Ice, and theft. The most common liability cover is around $100,000. You may need much more and some policies cover for medical payments and liability claim to their parties as well. You need to take note of valuable and other items that will not be covered by your home insurance policy. Diamond, priceless artwork and other valuable are not covered under house insurance policy. There are special insurance types that cover these valuables.

Are Calamities included?
There are many reasons cited not to include calamities into home insurance. But the fact remains that calamities are major incidents and it is not profitable for the insurance company to include these in the policies or else they will have to settle claims for everyone which may result in them going bankrupt. However these are offered under special endorsements.
• Some home insurance policies exclude natural calamities. So do not be surprised if a flood or earthquake is not there in your policy statement. You need to get additional or separate cover for these events. Check with your policy to see that in the event of a calamity whether only the home is insured or even the house hold articles are insured.
• Calamities caused by humans are also excluded. Terrorism, damages caused by an act of war, nuclear accident is not covered under most home insurance policies.

Cover and choices
Getting the appropriate cover and finding the right insurance type is possible if you prepare a home insurance checklist and compare quotes to identify the policy good for you.
• Most homeowner’s insurance policies are due to mortgage lenders requiring you to take a minimum amount of homeowners insurance. This minimum amount is usually an appraisal of the present value of the house. It is not the minimum cover that you should look at. You could consider purchasing replacement cost coverage so that your damaged property could be replaced. You could also consider finding out the cost of rebuilding your house and insuring it for that amount rather than the usual cover.
• Insurers value your property differently. One method is they give you a replacement value minus the depreciation for the years you own the item. The next method is replacement costs which pays you the present cost of the item if it were to be purchase today, so that you can replace the old one with the new one. If the second method is used the home insurance is costlier.
• Choosing a larger deductible will require you to pay this amount out of your pocket in the event of a loss. This will save on premium charges.
• Premium is also lesser if you have a safety system with fire alarm or fire resistant materials or even a fire hydrant close to your home.
• Premium is less if you have a home security system installed to prevent burglaries and alert you in times of emergency.
• Premiums will be still lesser if you get your other insurance needs by the same company. (For example: auto insurance)
• Lowest premiums are not always the best deals, Cover and other factors make the premium rates. Check with your state department to evaluate your insurance company and the policy offer.

DIRECT TV – The Clear Advantage

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Mar 042024
 

If television is your primary means of entertainment and you desire a change for the better, then Directv digital satellite television service is the right choice. With pricing always a concern, Direct TV offers the best with more programming choices for very little difference in pricing. Directv’s main concern is consumer satisfaction. Directv offers special promotional packages to welcome new members to their ever growing subscriber base of over 14 million happy people.

Direct TV offers the best in advanced technology by giving new subscribers free satellite television equipment and professional installation for viewing the best quality programming in the world. In addition to a free satellite dish, receiver, and remote, Directv gifts new subscribers with a free Personal Video Recorder (PVR/DVR) to enhance their viewing pleasure. Satellite television is wireless signaling directed to home receivers from Direct TV’s fleet of satellites orbiting the Earth. Digital transmissions are received by the satellite from programming suppliers and then transmitted digitally back to receivers located in homes for processing as standard or high definition resolution and then on to the television screen for enjoyment by all. This process delivers crystal-clear imaging and excellent clarity of CD quality sound or Dolby surround sound (HD). Better resolution is provided by digital High Definition enabling the viewer to see more of the area that is being filmed – comparable to a theater-type experience. The PVR is a necessity for those whose lives are demanding and require their physical presence outside the home. The PVR is electronically interfaced with the system, and favorites may be recorded and viewed at a time more convenient as they are digitally recorded and stored on the hard drive. Program recording can also be achieved while watching another show on a different channel. Features provide for recording, fast forwarding, rewind, and pause. The pause feature is a life-saver in many instances as it stops live programming for interruptions and resumes when desired. Up to 70 hours of programming may be recorded and stored for a personal library of favorites – music, movies, sports events, etc. Home entertainment is at a premium with Direct TV, and promotions serve to provide convincing nudges for people to go ahead and experience the best audio and video has to offer.

Programming is at its best with Direct TV Satellite. Directv offers programming packages with something of interest for everyone. From movies to sports to education to news to music – and more – something that will delight all. Each package contains a variety with the number of channels and price increasing accordingly. There are three variety packages to choose from with Specialty programming being offered as well. Starting with Total Choice at 155 channels, Total Choice Plus with 185 channels, and Total Choice Premier with over 250 channels – the selection is diverse and exciting. All include the availability of local channels in most areas. Specialty programming includes the most purchased optional services – the best in sports. NFL Sunday Ticket and NBA League Pass are unique to Directv, and International services offers Cricket matches, Lacrosse, and Soccer. Click on Direct TV Deals now to see special Directtv promotional offers as well as detailed package listings and prices. Directv is always at the top in customer service and satisfaction. Switch to the best. Start now and order today. Next day installation is frequently available. Join the millions of other satisfied television fans with Direct TV.

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