Archive for January, 2011
Car is considered as the best thing to travel short distances in your day to day routine. This saves your time and energy and become a must have. As the prices are going high and cost of living is increasing, most of the human beings are not left enough financially sound to buy a car these days with his own pocket. Car loans in UK are the right way of getting you on wheels.
Absence of a vehicle in your home can affect you when you think of spending some precious time with your family at some distant place. Car loans in UK are basically meant for people looking forward to buy a car.
Car Loans In UK are designed according to needs and circumstances for different sorts of people. There are people with their home or property to offer as collateral to the lender. These people can easily apply for a secured car loan. The title of the property which you offered as a security is offered to the lender. The benefit for such loan lies in the interest rate and the repayment terms and condition which are quite flexible. However there are cases where people don’t have collateral to offer to the lender. In such situation you can go for the unsecured car loan option. Yes, the rate of interest would be little more than the former option but there is benefit of faster approval and freedom from fear of loosing asset. You can choose any of the ways according to your requirement.
Few points which you need to consider while applying for car loan in UK are:
• Decide the car you want to purchase.
• Do you need a brand new car or a second hand one?
• Find out the price of the car through dealers.
• Determine how much you can invest from your side and how much you want as a loan.
• Find out which are the best car dealers in the market?
After going through all the steps above the next step is to find out a genuine lender with best rates and terms in the market. You can visit lenders offices, study and compare their quotes. Choose the one which suits you the best. This is a tough and tiresome job to do but the outcome will surely benefit you in form of better rate of interest and small monthly payments. Hence your monthly payments remain under control. You can feel the financial freedom while traveling in your own car with car loans in UK.
Introduction:
Property is an investment, and if purchased in a planned way is beneficial otherwise it may be dangerous if a high amount is borrowed. Most of the financial authorities prefer the first time buyer and offers various incentives. You should contact to an estate agent and discuss about your financial health, repayment options, and selection of mortgage and redemption options. On the basis of your financial repayment capabilities, you should select a most beneficial option.
Benefits of home over rented house:
• The rent you pay is not admissible to give you benefits under state or federal law. The mortgage loan interest is deductible from income tax. This saves a lot of amount.• The property tax paid is also accounted for tax deduction purposes.• The value of own house will rise over a period of time and it will be an additional benefit.
General Mortgages:
(a) Fixed rate Mortgage and Adjustable rate Mortgage:
Whether you are eligible for a particular mortgage or not, it is better you know about all types of mortgages. The common types of mortgages include fixed rate mortgage and adjustable rate mortgage.
In fixed rate mortgage, the interest rate remains same for throughout the mortgage periods. Some mortgage may be as high as for 30 years and some may be lower periods. The benefits of fixed types of mortgage are that you can plan in advance the amount to be paid.
In adjustable rate mortgage, interest rate generally starts lower than the fixed rate mortgage and may vary once or twice during the year as these rates are linked to a financial index. Depending on financial index (Treasury Security Index for United States) the rates may be either low or high. As the initial amount in these rates is always lower than the fixed rate mortgages, a more mortgage loan can be secured for the same burden.
(b) Repayment and Endowment Mortgage:
First time buyers prefer repayment mortgages, as at present conditions endowment mortgages are not capable to cover the mortgages.
(c) Interest only option of payment:
Some lenders may give an option for a few years for repayment option of loan interest only. In such cases, the repayment amount will be low, but principle amount will remain as such. So this option is not favorable.
Mortgage Amount:
Many lenders may offer 100% of the property value and up to 5 times salary of the individuals. It is recommended that single person should take between 2.5 to 3 times of the salary and couple should take 2 to 2.5 times of the salary.
Mortgage Indemnity Guaranteed (MIGs):
First time depositor may be asked by the lender to deposit a few percent (5 to 10%) of the loan amount for a lower risk of mortgage default. If the deposit amount is less than the expected amount, the lender may force the borrower to buy MIG. This is an insurance policy and provides protection to lender in case of default. These MIG are of no use to the borrower, as the premium amount of these policies has to be paid by borrower. Therefore the borrower should initially deposit 5 to 10% of the loan amount, to avoid MIG. If the borrower has to take a MIG, the borrower should ensure a good deal.
Penalty:
The lender lends the money to the borrower against a mortgage deal for a fixed period and if the borrower does not follow the deal, a provision of penalty is made.
Important Points When Writing an English CV
The purpose of an English CV is to sell yourself: An English CV is seen as an opportunity to sell yourself and should emphasise your skills, experiences and achievements. You should include successes and wherever possible include facts and figures to support your claims. Do NOT include information that is negative.
Spelling and Grammar Check: Correct spelling and grammar are of absolute importance in an English CV. Employers will NOT tolerate any mistakes. It is very important that a native English speaker checks your CV before you send it to an English-speaking employer.
CVwriting.net can provide a full spelling and grammar check and suggest any changes to the content of your CV in line with what employers expect.
Do not include a photo: Most English employers do NOT like to see a photo on the CV and, in fact, including one could work against you. Only include a photo if it has been specifically requested for a particular job application.
English Language skills: This is a very important aspect of your CV and your professional career. You must explain your knowledge of the English language under the ‘Skills’ heading. Describe your level of knowledge as one of the following:
· Bilingual – You can speak English as well as your mother tongue· Fluent – You have a complete working knowledge of the English language, both written and speaking.· Working knowledge- you have a good practical knowledge of English for professional purposes.· Conversational – You can converse adequately in English with good comprehension.
English CV Format:
Your name, address, telephone number and email address should appear at the top of your English CV. Always use a capital letter at the beginning of a name including the name of a street, town or country. Do NOT put CV or Curriculum Vitae as a heading.
Your CV should be produced on a word processor, not hand written, and be available softcopy as a Word or PDF file. If you are printing your CV you should use good quality paper.
An employer will scan your CV in thirty seconds looking for keywords that are relevant to the vacancy he is trying to fill. Keep your CV short and concise so that your positive attributes stand out. Your CV should be no more than two pages long.
Do NOT use initials for company names or qualifications, as these could be meaningless to an English employer. Always write the words in full.
Headings:
1. Profile: This is an opportunity to summarise the skills and experience you have described elsewhere in your CV. It is the first part of the CV that the employer will read. It should be only one or two paragraphs long otherwise the reader may not go on to read the rest of your CV. You should also include your career aspirations.
2. Achievements: list any special achievements from your career history or education that may make you stand out from other candidates. List no more than six.
3. Career History: This is a very important part of your CV. The most common CV format is written in reverse-chronological order. Start with your most recent employment and work backwards. List the dates between which you worked for each employer the name of the employer, your position and the location at which you worked. Write a short description of the company and then describe your responsibilities including facts and figures as much as possible.
4. Skills: In an English CV it is necessary to list particular technical, professional or other skills separate from your career history. An English employer will not necessarily be familiar with non-English professional qualifications therefore you must explain each one.
5. Education: You must enter your highest qualification first, then where achieved, and then dates. Make sure you explain any non-English qualifications or try and put the English equivalent, e.g. Baccalaureate, French equivalent to the Higher Leaving Certificate and A levels. Do not include grades unless they are particularly impressive.
6. Personal details: It is not necessary to include all of your personal details on an English CV as your skills and experience are of paramount importance. However, you need to include your nationality and it is normal to include your Date of Birth such as: 11th November 1967. Do not put your age.
7. Interests. You do not have to include your interests on an English CV but they will help to give the employer a rounded picture of you as an individual.
Signature: It is not necessary to personally sign your English CV.