If you're looking for a mortgage these days you'll have many more options than previously, thanks largely to the Internet. Not only is it easy to find a property online but shopping for a mortgage lender online can also save you a lot of time, energy and money, as there are now hundreds of mortgage lenders offering quotes and even processing mortgage applications over the Internet. Lender's overheads are reduced and this can often translate to better interest rates for borrowers as the industry become more competitive. Online lenders can often tell you whether or not you have been pre-approved within 24 to 48 hours after you submit your application.
The consumer is gaining control with brokers and lenders willing to offer better deals now able to access them more easily through mortgage leads online. As well large banks and mortgage companies with an online presence there are more private lenders getting in the game offering comparable and often extremely competitive services.
Consumers can now research all manner of information they need online, at home, without having to make endless phone calls and gathering piecemeal information. As well as researching mortgages, there are articles, informative sites such as moneysupermarket.com and suppliers of mortgages, such as Alliance and Leicester, who can help with any questions you might have. The Internet is proving a fabulous resource especially great for first time homebuyers.
There are however 2 golden rules that should be kept in mind when considering purchasing a mortgage online.
1. Do your homework.
Borrowers can research mortgage quotes and terms quickly from a huge number of different lenders or other sources. In fact, there are many sites such as mortgages.co.uk that have agreements with hundreds of lenders aggregating quotes. Input your specific details and get 10 quotes from 10 different competing lenders.
Mortgages can be complicated. Do bear in mind that online the quote you get may not be as accurate as one you'd get in person. There are many variables in the mortgage process (credit history, debt to earning ratio, etc.), and a website can't necessarily consider them all. Nor can it necessarily answer all your questions or give absolutely specific advice. The calculation process, though ever more sophisticated, largely relies on formulae and can lack an element of nuance or subtlety. It's worth taking at Beat That Quote – a comparison website - for details of loans, mortgages and other areas of financial management.
That's not to say online mortgage companies can't answer questions and handle unique circumstances — they just can't always do it as effectively through their websites as a face-to-face consultancy.
2. Due Diligence.
Do take care though when sharing information online. In spite of the many benefits offered by the Internet, there are security issues to address. Make sure that companies you are in communication with are reputable and are qualified to be doing business. Check for licenses, certification, referrals, testimonials, and other information establishing validity. Stick to the companies and names you trust and ask for references. Be cautious of predatory lenders.
Don't pass on too much personal information for just a quote and be careful of transmitting financial information over the Internet. If it makes you more comfortable use the phone to talk to people personally.
The importance of getting good travel insurance shouldn't be overlooked. It can provide peace of mind wherever you are, and whatever you lose or damage can be reimbursed or taken care of with the right insurance. It's recommended you shop around once you've considered the kind of package your holiday needs, because there are many companies selling lots of packages that may or may not suit the kind of trip you're going on. Here are three basic types of insurance to get you started in the right direction.
Annual Trip Travel Insurance
This type of insurance is well-suited to the frequent traveller, who for business or leisure leaves the country a few times throughout the year. It works well if your work sends you off for meetings in other cities or if you're partial to weekend breaks for fun. It's cost-effective and saves you having to book new travel insurance for each individual trip. It covers you for a period of up to twelve months for multiple trips throughout that time.
Single-Trip Travel Insurance
This is appropriate for those one-off family holidays, a long-haul trip, a weekend break, or a basic gap year excursion. The single-trip package takes care of loss, and theft, injuries and damage on that one trip. If you aren't someone who travel an awful lot then this is a good idea and if you do your research you can tailor the package to suit your trip.
You can tailor a single-trip travel insurance to suit a gap year trip but it can only stretch so far and many destinations and activities aren't taken into consideration with a single-trip package. The best thing you can do is to purchase a package that is specifically targeted at the gap year traveller; with policies that allow for far-off destinations, extreme sporting activities and any mishaps that can happen in the middle of nowhere. Basically, get covered for the more' high-risk'-type of travel.
For a varied selection of insurance packages, look at Go Travel's website for a travel insurance that will suit the trip you're going on. Also AA Travel Insurance has a good online package if you want to compare and contrast quotes for the period you're travelling.
Holidays are coming round the corner faster than an Amazon PRIME delivery. And with that, comes the pressure to spend, spend, spend. We are constantly bombarded with marketing messages, but never more so than during the holiday season. So, you've got savings goals. How do you stick to them? Here's what I've been doing (successfully)
1. Print out a picture - I used to want to be a missionary pilot, so I printed out a quarter million dollar float plane and pasted it on my bathroom mirror. Ambitious? Yes, and it worked. I'd hit the restroom late at night, see that picture, and be re-motivated to get back to work.
2. Think of your Grandparents - My grandparents lived through the depression and to this day my Grandma is one of the most frugal people I've ever met. She's also one of the happiest.
3. Make it a competition - I love competition. When it comes to saving money, I've been trying to make a competition with myself to see how much I can save each month, and try to improve on that number each month.
4. Think of your future (grand)kids - Every time I'm tempted to buy something I don't need, I think of my kids. What? You don't have any kids, you say? Yeah, but I will someday.
5. Think of who you could support - I've got 2 friends who are doing fantastic work in the non-profit world. I would love to be able to support them financially someday. Can't do that if you're broke.
6. Make it automatic - Set up your monthly or weekly savings draft and forget it. Done.
7. Write down your savings goal - Seriously, write it down on a sheet of paper. I've had a sheet of paper at my office since January with my savings goal on it. And you know what's funny, I'm on track to hit that goal almost EXACTLY.
It's amazing how much psychology plays into our ability to save and resist spending. Write down your dream savings goal for the month/year and just see what happens.
Who Am I?
The dream is to retire at or before 50. This is how to do it!!