Monthly Archives: December 2009

Secured Loans Primer

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A secured loan is essentially a loan that is taken out against your home or other collateral. In the context of this guide, when talking about secured loans and secured lending, reference is being made to that of a lender placing a legal charge over a property.
The most common type of secured loan is that of a mortgage. It is not within the financial capability of most people to purchase a property outright so most of us will therefore need to secure a mortgage.
Again, in the context of this guide, when talking about secured loans and secured lending, reference is being made to secondary secured loans, or second charges as they are commonly known within the industry. Borrowers who apply for a secured loan/second charge are doing so to follow that of their first mortgage.
How Do Secured Loans Work?
To the average lender, secured loans offer a very appealing prospect. They are able to lend out large sums of money with the additional security of a property – They will subsequently have open to them a number of legal remedies in the event of the borrower defaulting there obligations and payments. This will of course include home repossession.
A lender will register a secured loan by way of a legal charge with which the applicant must give consent to in order for an application to complete. The charge is then registered at the Land Registry by the lenders solicitors.
When it comes to remortgaging, most secured lenders will require the outstanding balance to be redeemed at the same time as the first mortgage. An exception to this is when a second charge lender grants a deed of postponement, thus allowing the existing second charge loan to run alongside that of the new mortgage lender.
What Are The Characteristics Of A Secured Loan?
The characteristics of a secured loan share many similarities to that of a mortgage. The most common one being that if your do not keep up the repayments on the secured loan, your home may be repossessed.
In the case of taking out a secured loan, it is a common myth that your home will be safe so long as you meet the repayments on your first mortgage. This is not true. If you fail to meet the repayments on your secured loan, even if you are up to date on your mortgage, the lender can seek possession of your property through the courts.
Secured loans can be arranged on loan sizes that usually range from 5,000 to 250,000, depending on the lender. Flexible terms are also available on secured lending, ranging from 5 up to 30 years. Some lenders will have schemes available allowing you to borrow more than the value of your property (combined with that of your first mortgage) of up to 125%. These schemes are not too common and it is believed that this is more of a marketing ploy rather than a viable or an advisable option to many borrowers.
How Does A Debt Consolidation Secured Loan Work?
A debt consolidation secured loan enables borrowers with significant levels of debt to consolidate some or all of these outstanding commitments into one loan amount and subsequently, one monthly payment. Debt consolidation is seen by many as an extremely effective short term solution to relieving the pressures of debt.
It is highly likely that by arranging a secured loan to clear off other unsecured debts such as credit cards, personal loans and hire purchases, the borrower is able to achieve a lower rate of interest than that applied to their unsecured commitments.
Not only will this take the effect of reducing the monthly payments but also secured loans can be arranged over a longer term than that of their unsecured counterparts. By extending the term of the loan will also mean that lower monthly payments can be achieved.
This is often viewed as a short term solution as in the long term, increasing the term of the debts may mean that you end up paying more interest. The other potential disadvantage of these types of loans is that consolidated debts that were once unsecured would then transform to being secured on the property.
What Are The Benefits Of A Secured Loan?
There are many benefits to be realised in taking out a secured loan. Many lenders and brokers alike will not charge any upfront fees, house valuation costs or legal fees. Compared to the fees associated with a remortgage, the secured loan option can be a very appealing one to borrowers.
Such fees associated with a remortgage will include valuation and administration fees, higher lending charges, discharge fees, title insurance and telegraphic transfer fees. This list is by no means exhaustive however they may not all be applicable in every case.
The timescales involved along with the various fees involved can be a put off for some homeowners considering a remortgage.
Perhaps the biggest appeal to most homeowners who are seeking finance is the speed at which a secured loan application can complete. At the top end of the scale, an application can take just a matter of days to complete. However for the majority, two to three weeks is a sensible timeframe to look for.
The benefits of secured loans when looked at against comparable unsecured loans are that it is highly likely that you will obtain a more favourable rate of interest on secured lending. As discussed earlier, this is due to the fact that the lender will in this case secure the loan by legal charge over the property reducing their perceived level of risk and subsequently reducing the rate of interest.
A secured loan will also offer a more flexible repayment period than that of an unsecured loan between 5 and 30 years with many lenders. If it is the intention of the borrower to obtain the very lowest monthly payment then this could be large benefit to them.
How Do I Know Whether I Should Take Out A Remortgage Or Secured Loan?
Each case must be assessed on its own merits. It is impossible to answer this question without careful consideration and assessment of the borrowers circumstances, needs and objectives.
The obvious example would be where a borrower seeking finance has a large early repayment charge to redeem their mortgage. In this case it may not be appropriate to remortgage. ERCs (Early repayment charges) can be as high as 7% of the outstanding mortgage balance which can of course result in thousands of pounds.
By arranging a secured loan in this instance might mean that you would be paying a slightly higher rate than that of the mortgage, however it could potentially save thousands of pounds of charges.
Another example of when taking out a secured loan might be of more benefit to the borrower would be a case where the first mortgage was originally taken out before the individual started to miss payments or run up another form of bad credit. It is highly likely in this instance that raising finance through a remortgage would mean paying a higher non-conforming/sub prime rate on the entire amount of borrowing.
By arranging a secured loan might mean that the borrower can still enjoy the prime high street rate applied to the first mortgage whilst only paying a higher non-conforming/sub prime rate on the new secured loan the additional finance.
Can I Apply For A Secured Loan With A Bad Credit History?
There are many schemes available today to cater for nearly every type of borrower regardless of credit history. If there is available equity in your property and you can meet the affordability criteria then it is highly like that you will be eligible for a secured loan. Bad credit will usually be defined between having one or more of the following:
# Mortgage arrears

# Rental arrears

# Secured loan arrears

# County Court Judgements

# Individual voluntary arrangements

# Bankruptcy
The more severe your credit history then the higher the interest rate that you will be charged. This again is a reflection of the higher level of risk perceived by the lender.

5 Ways To Make Quick Money Online

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Have you ever found yourself needed to make quick money? It could be for a family emergency or perhaps it was a unsuspecting bill that popped up. I’d say it’s safe to say that many of us have needed to make quick money at one time or another in our lives.
Here are 5 ways you can make quick money online. Don’t expect to get rich with these techniques. They’re techniques that will help you make some extra money online quickly.
They take some focus and determination although they’re not hard to do.
Project Payday – This is an online program where you sign up to fill in offers for other people. There are several forums where people are looking to pay anywhere from $10 to $30 or more for someone to fill in offers from name brand merchants. Once you’ve “went green” as it is called, these people will make a payment to your PayPal account. I’ve tried it and although it is easy, it’s tedious to say the least. But I was able to make quick money online (within a few days) by filling out offers for others. If sitting at a computer for hours at a time doesn’t bother you or if you have a lot of free time, then this may be what you’re looking for.
Craigslist – If you live in a fairly large Metro area, chances are there is a Craigslist city near you. There are a lot of people who make money quick by constantly monitoring the FREE section of Craigslist. They then go and pick up the free stuff and turn around and sell it. Sometimes they post it back on Craigslist to sell it the same day they picked it up. This technique can make quick money in a day or two if you know how to work Craigslist.
Ebay – Staying with the Craigslist technique above, some of the people picking up the free stuff will post these items on Ebay if they can wait to get their money. Another source for ebay items is the other categories on Craigslist. It’s amazing, but a lot of people just want rid of stuff laying around their home. This is why they’ll give it away or sell it for next to nothing. Don’t get caught thinking you can only offer a 7 or 10 day auction on Ebay. They do have quick auctions. This will be your best bet if you need to make quick money and the item you’re selling is in demand.
Online Classifieds – If you have something you want to sell quick, but you’re finding that there aren’t buyers in your local market, try online classified sites such as Kijiji or U.S. Free Classifieds. I’ve had great results from both of these online classified sites when I needed a larger customer base to bring a better price on some unique items I was selling. Both have free versions that are just the ticket if you only have a few things you want to unload fast.
DigitalPoint Forums – Do you have some type of marketable skills? Most people do. Digital Point forums has a Marketplace section where freelancers can advertise their skills. You don’t have to be a professional to take advantage of this forums. There are people on there making money quick simply by rewriting articles for Internet publishers. Anyone can rewrite an article! If writing isn’t your thing, there are a ton of other services being offered there. I bet you can find something you can make money at on DigitalPoint.
If you find yourself in a bind between paychecks or you just wondering how a stay at home Mom can help out with the bills, the 5 ways above will help you make quick money online.
Just remember to plan out your strategy and take it slow until you get a system down. Don’t expect to hit the jackpot with any of these techniques. However there are a lot of people who are making steady incomes with ebay and craigslist. Who knows, maybe you’ll find a niche where you can make quick money online with you own home based business.

7 Steps to Creating a Successful Small Business Marketing Plan

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Small business marketing is all about determining the needs of your target market and then providing solutions to meet those needs.

These 7 steps are aimed at entrepreneurs starting a small business and those who want to create a successful small business marketing plan for an existing business.

Most small business promotions focus on how great their products and services are. Instead, you should educate your target market consistently and start building a relationship that will establish your credibility and trust. It is important to develop a marketing mindset. “Think Marketing” your products and services all of the time. It is very important to consistently market your products and services. Don’t fall into the trap of stop and go marketing. Some small business owners only market when sales are down.

You can’t have a successful small business without having a successful small business marketing plan. Effective small business marketing is the way to growth and profits.

If you’re a small business owner or you want to know how to start a small business in the future, this simple 7-step plan will help you understand your business and your target market.

How to Start a Small Business Marketing Plan: 7 Steps

Begin the process by answering these questions:

1) Who — Who specifically is your target market? Who is your ideal client? What research can you do to find out more about your target market?

2) What — What products and services do your ideal clients want and need? What does your product and service do for your ideal client? What problems does your product solve for your customer? What are the solutions that your ideal client is looking for? What is your area of specialty that will differentiate you in the marketplace? What are the industry trends? What type of message will your ideal client likely respond to? What are you ultimately selling? For example: Are you selling eye glasses or are you selling vision? What is your unique mix of products and services? What is your pricing strategy?

3) Where — Where is your ideal client? Where is your customer located geographically? Where will you position yourself so they can easily find you? Where are the best places to get your marketing message to them? Will you speak to groups, hold seminars, or write a blog, newsletters or articles?

4) When — How frequently does your target market need to hear your marketing message? When are they most likely to buy your products and services?

5) Why — Why are you in business? Why do customers or clients buy from you? Why should they choose your product or service over your competition?

6) How — How does your customer buy your product or service? How are you going to reach potential buyers for your services and products? How will you communicate your marketing message? How will you provide customers or clients with the information they need to make their buying decision?

7) Marketing Mindset – Practice mastering a Marketing Mindset and you will be on the path to a profitable small business.

With these 7 steps, you can take action towards starting a small business marketing plan that targets new customers. “Marketing is about testing and evaluating your return on investment. But it’s primarily about helping people get what they want.” Master these small business marketing steps and you will be on the path to more profit and success as a business owner.

Shop Online For Your Credit Bad Loan

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A bad credit loan may be your only option when it comes taking out finance if your credit rating is less than perfect. All lenders will look at your credit rating when it comes to deciding if they will approve you for a loan. A bad credit rating means you are a risk and so are likely to be turned down. Taking out a loan of this type will also help when it comes to your credit rating as long as you keep up with the monthly repayments.

The downside to the majority of bad credit loans is that the rate of interest will usually be higher than with other types of loans. This is due to the fact that you are seen as a bigger risk due to your low credit score. However on saying this you can get the best deal if you shop around online for the lowest rates of interest. The interest rates on loans can vary considerably and by saving even just a fraction of a percent you can save hundreds of pounds throughout the lifetime of the loan.

You can apply for a bad credit loan as an unsecured loan or a secured. When applying for a secured bad credit loan you do have to remember that your home will be at risk throughout the whole term of the loan. If you should falter on the loan then your home could be repossessed. However a secured bad credit loan will usually come with a rate of interest cheaper than that of an unsecured. Along with your credit rating factors that are taken into account include your ability to repay the loan and the amount you wish to borrow.

The best place to go when looking for a bad credit loan is online with a specialist website. A specialist website will allow you to search the whole of the market place to make sure that you have the cheapest quotes. By gathering together all the quotes on one page you are able to compare them more easily and they should come with the key facts attached. The key facts are where you can find the small print of the loan and any additional costs to the loan. Some lenders will ask that you pay a fee if you should want to repay the loan up early. In some cases this can be a couple of hundred pounds so this needs to be taken into consideration when comparing loans.

A bad credit loan is not just suitable for those who have a bad credit rating, it can also help others. Those who are just out of college and have no credit rating can find it just as hard to obtain a loan as those with a bad rating. Taking out a loan for bad credit can repaying it back with no problem will build up your credit rating and give you a start. They can also be useful for those who are self-employed and cannot prove a regular income or who have just moved to a new home.

Business Trends: an Update

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Business Trends: An Update

(For Indonesia, Singapore and Tokyo)

by Bidz dela Cruz

This is a look at what’s going on inside the business sector of three of the nation’s of Asia, and have a good comparison of their industry as well.

Indonesia: Indonesia is emerging from a period of inner turmoil after the fall of Suharto and a successful change to democracy. It remains to be the promising powerhouse of the Asean group with its vast human and mineral resources. In Jakarta, Indonesia’s telecom industry is not only growing, but also rapidly diversifying. More and more new individuals join the cellular bandwagon. From 23 million people a year ago, there are 35 million now, opting to buy their first handphone, whether it be brand-new or second-hand.

On the other side of the telecommunications paradigm, despite the fact that the on-line gaming market in Indonesia is admittedly at its infant stage, recent knowledge and undertakings signify that it has started to move on to it’s adolescent stage, making a mark in the gaming industry. One of the latest studies has showed some trends present in the Indonesian on-line gaming industry, specifically in the areas of on-line games and service providers, which are likely to affect gamer-base evolution and it’s growing market share.

Singapore: On the neighboring area, Singapore has a few business updates to boast as well. With regards to its tourism business traffic, the “Opportunities in Singapore Tourism Industry (2007-2009)” report gives an in-depth analysis of the current outline and future prospects. It’s focal point is the discussion on different areas of Singapore tourism industry today: Inbound Tourism, Outbound Tourism, Expenditure by Inbound Tourists, expenditure by Outbound Tourists, medical tourism, transportation facilities, and accommodation facilities.

Another update, on a different industry this time, Singaporeans can now surf the Net on a bus. Nokia has provided free wireless high-speed Internet on 12 popular bus routes which started on November 9 of this year (2007). Commuters can handily use their mobile phones or laptops which can access wirelessly into the Internet.

Tokyo: Tokyo is one of the most interesting and exciting cities in the world. A capital of Japan, it is always full of tourists who looks for the latest electric and electronic product all over the world. Seated over the world’s second largest economy, Tokyo is the governmental, financial and administrative centre of Japan. It has continued to be the leader in trends and technology.

Living up to its reputation, Tokyo has launched a new electronic gadget for the techi- addicts. A groundbreaking new recording medium from the televisual entertainment, Hitachi MS-DS400 DVD/HDD video recorder

is Hitachi’s new DVD recorder. It does not only handles all formats of DVD disc, but it is also equipped with a jumbo 400Gb hard drive which is available in any convenient store or corner store in town. The rest of the feature-set makes this device a heavy hitter in the lucrative DVD/HDD market: The high-end specs translate to the DS400 which handles 67 hours of video storage at the highest quality before forcing you to dump to DVD or delete, although it falls short insignificantly in that its ability to network video to other devices has been limited as compared to its earlier low models.

All three tycoons in business are battling it out to gain popularity once more in Asia’s market share, whether business be in Electronic Technology, Tourism, etc.. The rest is yest to be seen.

The author is a content provider of dui

If you want to know more dui, fitness, health and the outdoors, visit www.dui.com.mx

Tags: business