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Monthly Archives: May 2009
London Sees Largest Drop In House Prices
Author : Michael challiner
Latest figures have revealed that house prices in London are dropping quicker than anywhere else in the UK There has been a drop of nearly 10 per cent on the average house in the last 12 months, according to price monitors Housetrack; this compares to a figure of 8 1 per cent for the rest of the country
The average cost of houses across the London is now 285,400 pounds This puts the average cost of properties in the cheapest boroughs below the stamp duty threshold of 175,000 pounds
The lowest of these are Dagenham and Barking which average 143,900 pounds, then at 166,100 pounds there is Lewisham, 166,800 in Bexley and in Newham the average is 170,500 Barking and Dagenham were the only boroughs in this bracket 12 months ago
Kensington and Chelsea have seen large falls in price seeing in some months, average prices falling by as much as 11,400 pounds Hackney has also seen very weak prices There have also been boroughs with an annual drop into double figures, the worst of these being Merton at 14 1 per cent followed by Sutton at 12 2 per cent
Buyer confidence is almost certain to be depressed further as the economic downturn gathers pace and we expect house prices to fall a further 20 per cent in 2009 A property expert at Capital Economics said: “The pace of house price falls in London has intensified, which is not surprising given the large scale City job losses and growing expectation of sharp cuts in City remuneration ” In addition, in the top end of London’s housing market transactions, homes priced at over 2 million pounds, were 53 per cent lower than a year ago
An analyst from IHS Global Insight said: “Credit conditions remain tight, while affordability, especially in London, is still poor Unemployment is rising fast, income growth is muted and there is widespread expectation of further house price falls and recession We expect house prices fall a further 15 per cent in 2009 A reduced fall of five per cent in the first half of 2010 may then be followed by a period of stability ”
A Director of Research at Hometrack, said, “The market has been stripped back to the bare bones in terms of sales numbers The cuts in the Bank of England’s base-rate are unlikely to have much direct impact on the market in the short run Mortgage rates remain relatively high and are rarely available for more than 75 per cent of the value ”
Frank Knight, agents for some of the most prestigious properties in London, say that the best properties in Central London have fallen by 3 6 per cent and represent the second biggest drop recorded
Some commentators have been talking up “green shoots” in the property market This is serving to confuse the public The “green shoots” represent the signs that people are beginning to return to the market as mortgage approvals are up This indicates that the numbers of house sales are beginning to edge up – but this is largely as a result of bargain hunting There are still no concrete signs that the prices of houses are sprouting
Are you wanting to buy a new house and need a Mortgage, visit Brokers Online for a great deal. Brokers Online also provides its UK clients with Life Insurance, Mortgage Payment Protection Insurance and many more financial products.
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Women Entrepreneurs Make Soul Agreements in Business
Author : Kendall SummerHawk
Every woman small business is run on agreements Some of the agreements are printed and signed, like in a contract They can be felt, seen, read and discussed
But what isn’t always so obvious is the unspoken agreement we’re entering into This is the one that, when everyone is in agreement, makes our work a joy to deliver and a delight for our clients to receive And, when not in harmony, it’s the type of agreement that can cause us hours of stress, unhappiness and messy situations that we wish would just “go away ”
I call these “soul agreements,” when I’m business coaching
A contract is a legally binding document between two or more parties that clearly spells out obligations, commitments and expectations between everyone involved
A soul agreement is a commitment, first with yourself, that says, “the action I am about to take is in complete harmony with what is right for me My actions are a reflection of my speaking and acting from the truth of who I am, no matter what ”
The problem is that most women entrepreneurs ignore their own soul agreement when making commitments
How can I tell? It’s easy
My business coaching experience tells me that if you’re doing something you don’t really want to do, if you’re ignoring that awful gnawing feeling in your gut that’s trying to tell you something, if you’re holding back from a difficult conversation because you’re afraid of losing a client or hurting someone’s feelings, then you’re breaking your soul agreement
Likewise, women entrepreneurs break their soul agreements if they hold back from charging enough, going after a more lucrative client or launching new marketing plans
Sure, women entrepreneurs have to do practical things like build their lists, speak, send newsletters and gather testimonials
But if you want your woman small business to be spiritually AND financial rewarding, then you must first commit to your soul agreement, then take action
How?
Let’s say you’re about to launch a new program Before you start your marketing plans, let me ask you, what is the soul agreement that you know you must make with yourself for your woman small business? (Hint: it’s something deeper than just saying to yourself, “I’m willing to do what it takes to make my launch work “)
Try asking yourself this question, “What is the bottom line truth, where I know I MUST show up, no matter what?!”
What often bubbles up is an unmistakable (and unshakeable) feeling of strength, passion and commitment for what you believe in and an “a-ha!” of where you’ve been sacrificing that commitment to please someone else
With your soul agreement firmly in place the marketing actions you take will be more than just mechanical tasks They will be soul inspired actions that pull you forward powerfully, even when you’re tired, uncertain or tempted to slip into self-doubt
My business coaching challenge to you is to keep your soul agreement, no matter what, and watch your marketing plans leapfrog forward into success!
Business coach Kendall SummerHawk, the ‘Horse Whisperer for Business’ delivers savvy ways for entrepreneurs to turn hectic businesses into 6-figure successes. Get her ’7 Quick and Simple Tips to Brand, Package and Price for More Money, Time and Freedom’ at http://www.kendallsummerhawk.com.
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Payoff Your Mortgage Use the Fastest Method Without Cutting Into Your Paycheck
Author : Neil Venketramen
The current mortgage system is designed to squeeze as much money out of you as possible
WARNING: you’re at a severe disadvantage because mortgage companies charge as much interest as long as possible without informing you in a clear way all the steps you can take to change it
The current system requires your payments follow an “amortization schedule”, which forces most of your money to go towards interest
In the first five years, you could end up spending five times more in interest than in mortgage principal – and that’s a huge chunk out of your paycheck! So if you make $12,000 in principal payments, you end up spending $60,000 in interest Unbelievable! For a simple calculation go to Bankrate
And when you move, the bleeding starts all over again
The banks know you’ll probably move again or refinance in 5 years, and then the cycle of paying more interest starts all over again
It takes years before your loan balance is reduced by a small amount-how unfair is that?
How many years have you been paying off your mortgage and are you really further ahead?
But here’s how to fight back
You’re going to love this there’s an improved method you can use to reduce these interest payments
The way to do this is simple Apply more of your monthly mortgage repayment to principal rather than interest without changing your repayment or refinancing your mortgage
For example, if you pay $1,200 towards your monthly mortgage repayments, $1,100 goes towards interest and $100 towards principal early in the life of the mortgage
You can pay more to principal, less to interest and it’s perfectly OK with the bank!
Hang onto your seat, because now there is a way to apply $900 towards interest and $300 towards principal without changing your lifestyle or paying more anything and the best part is that the banks will gladly accept this!
This method has been around forever but nobody has figured out how to use it
Until now
Wouldn’t you like to shave 13 years off your mortgage? You can! Here’s how
Your mortgage can be paid off in one-half to one-third of the time Most of our clients shave at least 13 years of their mortgage without spending a cent more
And no, you do NOT have to refinance or get another mortgage; just have an open mind and a willingness to tackle a common math problem!
The concept is really simple All you have to do is use a mortgage checking account the right way Once you set this up you begin immediately allocating more of your payments to principal rather than interest and end up paying your mortgage much faster The best part of all, the banks happily accept this
Here are the 7 basic steps you need to follow:
1 Calculate your personal “HELOC number ”
2 You set up a Home Equity Line Of Credit (HELOC) for the Heloc number
3 You pay your bills and mortgage on time
4 You transfer money to your HELOC at the right time
5 Your bank takes care of the rest-and they’re happy to do it!
6 Create a spreadsheet to make sure you stay on track
7 and YOU PAY OFF YOUR MORTGAGE AS EARLY AS 13 YEARS SOONER THAN NORMAL, AND SAVE AN AVERAGE OF $67,636 CASH!
You will NOT have to change your day-to-day spending habits or your lifestyle to take advantage of this concept It’s a sound, smart way to pay down your mortgage
Go directly to href=http://www.eqxl.com, EquityExcel. You will find out the step by step method to pay off your mortgage and the risks to avoid so that you don’t lose your home in the process, and you will be on the path to financial success.
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House Prices Continue To Fall A Light At The End Of The Tunnel
Author : john mce
House prices dropped another 2 2% in October this year, according to the Halifax, contributing to a 13 7% drop over the last 12 months This means the average UK home now costs 168, 176 pounds, nearly 30k than exactly a year ago
House prices are now back to the level they were in October 2005, and conditions remain challenging because of economic conditions and the shortage of mortgages being offered by financial institutions, particularly for first-time buyers
In their survey of house prices across the country, Halifax found similarly gloomy results to those obtained by other banks in recent months, such as Nationwide, who reported a 14 6% fall in the last year
But Halifax’s chief economist, Martin Ellis, said there were signs that the market was starting to stabilise and that the affordability of homes were “improving significantly”
The house price to earnings ratio has fallen below 5 0 for the first time in four and a half years, and further improvements in this statistic are expected in the coming months
The number of mortgages seems to have been largely unchanged for the past three months Prices are falling faster than at any point during the 90s, so the likelihood is that the outlook will continue to deteriorate over the next few months
The recently announced cut in interest rates by the Bank of England will go some way to helping, but the main issue is High Street lending rates and availability Some lenders may try to recoup their losses by taking their time to pass on the savings to customers, which could lessen the beneficial impact of the Bank of England’s interest cut
Mortgage rates are expected to plummet as a result of the cut in interest rate, but the main barrier to particularly first-time buyers, is the hefty deposits required rather than the cost of servicing the mortgage
Since the start of the credit crunch and global economic downturn last summer, lenders have decreased their lending, preferring to lend only to those who hold significant equity in their home or who are able to put down large sums of money as deposits when buying for the first time
Banks are likely to restrict their lending even further in the coming months, before stability and growth creeps in 100% and 95% mortgages are a thing of the past, and most deals currently on offer from high street lenders require a deposit of between 10 and 15 percent
A Quick Sale is the number one property buyer in the UK. We can help you with a quick property sale and find solutions to keep you in your home, through rent or buy-back options. We can help if you are facing repossession.
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Finding High Interest Bank Accounts
Author : caroline south
The interest rates on many bank accounts in the UK and around the world are currently very low Some current accounts in UK banks are currently paying either paying no interest at all or if your luck just above zero percent
If you are retired then the current low interest rates are a double whammy, you are now comparatively worse of than you were If you are living off your savings and interest then you will be eating away at your saving at a much faster rate and probably having to cut back on your spending quite significantly
It was not long ago when we getting 5, 6 or even 7 percent interest on many accounts, those days are over for a while but what do you do in the mean time It depends on how liquid you want to keep your assets It depends on how quickly you need to be able to get hold of your cash
For those who have savings and do not need instant access to your money you can improve your return by investing the money in a bank account that offers a higher interest rate In return for this higher rate you will have limited access to withdrawals or you may have to leave your cash in the account for a fixed number of years
Many of the online versions of many high street banks are offering a short term bonus and slightly higher rates However whilst the numbers are quite small compared to the rates we were used to they can still be twice as high as you are currently getting on your current account
If you have retired then you are probably going to need to be able to take out money on a monthly or weekly basis This means that many of the fixed return accounts that ask you to lock your money away for years at a time are not going to be an option
One option is to open up an online account to get access to slightly higher rates and an introductory bonus which will give you a short term boost If you shop around at some of the comparison sites you can find accounts currently offering 3 or 4 percent including bonuses
Look at some of the smaller banks, internet only banks or Irish banks, whilst you may not have a local branch banking can be done just as easily online If you are worried about having access to withdrawing your cash all you need to do is transfer the money electronically to your local high street account It can sometimes take 3 days for the money to become available but this is a small price to pay for what could be 2 or 3 percentage points increase in interest
Find out how you can get High Interest Bank Accounts and get a better return on your money at http://www.HighInterestBankAccounts.me.uk
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Steps To Buying A New House
Author : Anna Stenning
Buying new houses seem near impossible considering the current economic climate, making it therefore more difficult for first-time buyers to get their foot onto the property ladder Newer houses are sometimes offered at a special rate, in that first time buyers may be able to purchase the house on a shared ownership basis or for a discounted deposit scheme This means that first time buyers can buy a house for a small percentage of the deposit and part-own the house
Shared ownership on new houses is a good investment as it allows first-time buyers to get their foot on the property ladder and increase their chances of having a stable investment The downside is that they will not be the sole owner and will most likely expect between 45% to 75% ownership, the rest in which they may have to top up with ground rent Not all first-time buyers are eligible to this scheme and may need to provide proof of income Usually those on a salary of 20,000 pounds or above will be given higher priority and consideration over anyone earning under the above amount
The first step a first-time buyer would need to take is the all important self-financial assessment How much can you afford to pay for a new house and how much if any can afford to put down as a deposit? Do you have a clean track record and good credit rating? How much are you looking to spend and will the amount you pay be a solid investment? New houses are generally purposely built for a specific market, therefore if you would prefer new house then research into the development company and be clear on what you will gain from the price you have paid
The next step is to consult a financial or mortgage advisor, they can tell you how much you are most likely to be given from lenders It is important to provide every single minute detail about your financial status; this will not only include income, but will also include current outgoings and other debt repayments Through the brokers you will also be able to calculate how much you can afford to pay off on a monthly basis, putting together the best mortgage plan for you
Often going in on a house as a pair is much cheaper than going in by yourself This will also enable you to be open to much more mortgage plan offers, because the two of you will provide a much higher income for the house and therefore doubling the chances of purchasing a new house One thing that you will need to factor in is the added costs of bills, council tax and necessities fees These will all amount significantly and should be calculated in advance, giving you a clear idea of what you will be left with at the end of the month – will you have enough to save?
Finally take a look on the internet, gain some advice from experienced buyers, financial advisors and read articles or forums There you will find an abundance of information detailing who to contact, what some of the terminologies mean and the application process Many people have surprisingly in the past ignored the preparation process resulting in a decision that may have affected their financial standing It is always best to be over-prepared and taking care not to fall into the trap of repossession!
Anna Stenning is an expert on providing advice for first time buyers who are looking at new houses as a step onto the property market.
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Mortgages for the Self Employed
Author : Joe Ramirez
When you are applying for a mortgage, usually the lender will focus on your financial history over the past 2 years For employees, that means 2 years of personal income tax returns, as well as W-2s and paycheck stubs If you are self-employed, that changes the usual process a little For one thing, you probably won’t be able to provide W-2s or paycheck stubs
Many lenders specialize in working with borrowers who are self-employed It’s worth your time to shop around for a lender you’re comfortable with, who has done this type of loan before Be aware that it may take a little longer and involve a bit more paperwork, but mortgages for self-employed people are approved every day
By the way, you may be surprised to find that you fall into this category If you are employed by a business that you own 25% or more of, you’re considered self-employed If you own a construction company equally with your 4 siblings, you own 20% so you’re not considered self-employed If you own the same company equally with 2 siblings, you own 33% so you’re considered self-employed
The lender will be concerned with your financial stability, and the financial health of your business After all, in this situation, if your business fails, you are likely to default on your mortgage, as well So, the lender will be checking two sets of documents – your personal financial records, as well as your business records
You’ll need to supply your personal income tax returns for the past two years If your company is incorporated, you’ll also need to supply two years of income tax returns for the business The lender will often also request a current balance sheet for the business, as well as a current profit and loss statement
If your credit is good and you don’t have any other major loans, the lender may simply work with the first two pages of your personal tax returns for the past 2 years In this case, your financial history is strong enough that they aren’t concerned about the business However, this is the exception
The documentation you’ll need to furnish, and the way it’s viewed by the lender, depends on the structure of your business:
- Sole Proprietor
- Corporation
- Partnership
Sole Proprietor
As a sole proprietor of a business, you own the whole thing Your business income and expenses will appear on Schedule C of your personal income taxes Your taxable income (or net income) is considered your total revenue (or total income) minus expenses
Corporation
If your business is set up as a corporation, it’s separate from your personal income The lender will need to see your corporate tax returns for the past two years, as well as your personal tax returns
Partnership
If your company is a partnership, the lender may ask for two years of tax returns from the business On the other hand, if your credit score is high and your current loans low, again, they may simply work with your personal tax returns
The amount of documentation necessary can be greatly reduced for those with strong credit scores Many self employed borrowers, due to their excellent credit, have the ability to state their income, provide limited documentation (3 to 6 months bank statements) or even provide no documentation As these reduced documentation types add additional risk to the lender, they typically have slightly higher interest rates than full documentation loans
Vist MyRefi.com for all of your mortgage and real estate needs. Receive a free, no obligation mortgage qutoe today.
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Recessed Commercial Electric Lights Can Save You Money
Author : Beth Guide
Enhanced illumination contributes to a more positive and focused work environment in the office It helps improve employee morale, and it contributes to increased productivity which can be vital to recession proofing a business
Of course, many businesses may feel that now may not be the best time to invest in a comprehensive overhaul of their interior lighting system For such companies, commercial recessed electric lights offer an affordable enhancement to the existing general lighting system that represents a safe-bet investment in any market place and also helps to reduce liability and improve general safety
A certain number of foot-candles are needed for clear visibility and safe mobility within a building Pockets of shadow and low levels of light represent areas where employees can injure themselves or suffer from eye strain caused by insufficient light Commercial electric recessed lights are ideal for improving illumination in these areas and increasing visibility so employees can more easily perform tasks and move between stations when necessary
Reducing work related physical stress and minimizing the risk of injury helps decrease the potential liability for an organization with substandard levels of lighting Something as simple as installing a few commercial recessed electric lights can potentially qualify a company for reduced commercial liability insurance rates, provided the contractor who installs the recessed lights provide the organization with a photometric analysis that details the improved quality of interior lighting and shows where newly installed recessed light fixtures work provide new directional lighting for important tasks in key areas of human traffic and activity
Recessed electric light fixtures are also an ideal source of accent lighting in commercial interiors Meeting rooms and foyers are two very important places that every company should spend the money to literally put in the best possible light Recessed electric fixtures in these rooms can be wired to dimmers and remote control units that allow for the light to be set to appropriate levels for different events Speakers, sales presentations, private meetings, and even video conferencing will all benefit from the enhanced and flexible illumination produced by commercial recessed electric light fixtures
To determine fixture specifics such as housings, trims, and lamp types, it is necessary to quantify floor and vertical cube space, and to learn as much as possible about key activities essential to the clients operation This information can then be passed on to your specialist so that they may process this data using sophisticated design software that generates a comprehensive photometric analysis of the clients interior office space
This photometric assessment details a point by point, room by room breakdown of required levels of lighting and optimal locations for fixture placement
Once these things have been determined, it is much easier to determine exactly how many recessed electric lighting fixtures are actually needed, and which housings, trims, and lamp types will best meet the requirements of the proposed installation For ceilings that cannot be cut due to restricted clauses in the commercial lease, retrofit recessed lighting fixtures may be the best way to go
Smaller companies who feel the pain of investing even in a few new ceiling lights can be reassured with the promise of lowering power bills with low voltage fixtures Unique interior architecture such as sloped ceilings can also be accommodated with special recessed electrical light fixtures made just for such interiors
RLLD Commercial Lighting offers energy efficient tennis court lighting and parking lot lighting sales.
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