Interest- Only Mortgages

Category: Finance, Real Estate.

If you are thinking about making a real estate purchase, you may find the financing options quite confusing.

There are two variables to consider- mortgage type, and interest rates. Before you can proceed, you have to know your terms, and understand what your options are. These are the most important considerations when deciding on real estate, so it is essential that you have a basic understanding of what they are. Repayment Mortgages. Your two main options are repayment and interest- only types, and under those are more specific kinds. This type of financing operates like a simple loan.

The loan lasts a certain period of time, and if you make all of your payments according to schedule, you will have both the interest and capital paid off at the end of that term. Every month, you make a payment and the money goes to both the capital( the actual home itself) and the interest. Interest- Only Mortgages. These loans have other options for paying off the capital in a lump sum. With this type of payment option, you are making your payments to the lender for the interest only. These have their benefits, but they are only good for those who can definitely make those payments according to schedule. You will be saving the money for the capital in a savings plan of some sort, like a pension plan, ISA or endowment.

If you do not keep up your payments, you risk losing the loan. At a certain time, that saved money will be used to pay for the mortgage, and the interest will already have been paid off. - Endowment Mortgages. Those funds will eventually be used for the house. With this type of financing, you are paying money into a life insurance plan. At the end of the term, this money will go to the house. If you die during the payment period, the loan will still be paid off so your family doesn t have to worry. The advantage is that you are not only saving for your mortgage, but also getting life insurance.

You also might end up with extra cash left over after it s paid off. - ISA Mortgages. One part is used to pay the interest on the principle( or original amount you borrowed) , and the other goes into an ISA plan, which is invested. With an ISA, your monthly payments are being split two ways. Part of the ISA plan will be simple savings, and the rest will go into stocks and other investments. You pay money into a pension that will be used to pay for the house when you retire. This is an excellent way to pay off your loan like a repayment mortgage, but save lots of money on taxes. - Pension Mortgages.

This option is usually only available to those who are self- employed. With this type, you pay almost no tax on your house, and end up saving all that extra money. You are basically saving for both your home and retirement, so you have to make sure that there will be enough when you retire for the house and to take care of you throughout the rest of your life. Once you ve decided which payment plan is best for you, you will have to choose an interest rate. Having advanced knowledge about your options will let you select the plan best suited to you and your future. Whether you need a fixed interest rate, variable rate or capped rate will depend on your lender and your own personal needs.

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Which Allowed Business Men And Women To Commute From The Tax Havens Of Andorra And Monaco Thirty Weeks A Year

Category: Finance, Real Estate.

A well respected US magazine recently claimed Monaco has the most overpriced real estate in the world, claiming the rental returns as part of their figures meant the tax haven s property costs were unduly high. While admittedly high in Monaco at around 11 per cent, it s not common to be 20 per cent that their research was based on. The comparison of 50 financial centres assumed the property was not a main residence and looked at rental returns- another error when calculating Monaco s property prices according to the Monaco internet guide. By law in Monaco rentals are a minimum of one year, so it s obvious that rental returns are going to be less than places where weekly and six monthly rentals are possible.

In response a Monaco internet site says the American magazine are wrong, and have forgotten why Monaco s property prices are high in the first place. The error they made was comparing Monaco with places like Rome, Los Angeles and, Warsaw Vancouver, and they also overestimated closing costs. To gain residency in Monaco via renting the residency office needs evidence of a twelve month contract, so Monaco is in a unique position when compared to other leading financial centres. There is a shortage of available property in Monaco and high demand that shows no sign of slowing down- given all these factors we just think the US magazine s analysis of the Monaco real estate scene has been done without taking local factors into consideration. Typical property prices in Monaco at the moment include a second floor studio apartment at 1, 000 Euros, 100, a one bedroom apartment in Monte Carlo at 2, 000 Euros, 150, and a three bedroom two bathroom apartment at 5, 000 Euros, 500. One thing that could put the brake on the number of Brits looking to move to Monaco was announced after the magazine s claims about Monaco real estate prices were published. As well as buying a property, to gain residency in Monaco a bank account needs to be opened in the Principality, with account opening deposits varying between 100, 000 Euros, 000 and 500. The amount of time British tax exiles can spend in their home country is being limited by the British government, and it could impact the British economy, claim a company who specialise in tax haven property and residency. Importantly both the day of arrival and departure into the UK didn t count as a day.

Up until now a British taxpayer could avoid paying income tax by taking residency in a tax haven such as Andorra or Monaco, and be allowed to spend 90 days a year in Britain before falling foul of the Iland Revenue. So technically, a tax exile living in Andorra could drive to Barcelona airport for a 7am flight to London, and given the hour s time difference between Spain and the UK, be comfortably in an office working by lunchtime. Which allowed business men and women to commute from the tax havens of Andorra and Monaco thirty weeks a year. Equally, the same tax exile could leave the London office at 6pm Friday for Barcelona en route to Andorra- and importantly those five days in the UK would count only as three of their ninety day allowance as the day travelling to and from the UK aren t counted. Some would do Monday to Thursday and could do that virtually all year and still stay on the right side of the British tax man.

So, How Do You Go About Finding The Right Real Estate Agent In Cyprus

Category: Finance, Real Estate.

If you are looking to buy property overseas, the process can be fraught with uncertainties and worries as you look for that dream house in an area in which, you, to be frank re not all that familiar.

So, how do you go about finding the right real estate agent in Cyprus? Here, Cyprus is no different. First off, authorised real estate agents in Cyprus need to be both licensed and registered. If this is the case, then your first port- of- call should be the Cyprus Real Estate Agents Association( "Association" ). However, not speaking the same language as you do, and having their fees paid for by the seller, may give you serious cause to wonder whether they have your best interests at heart or the seller s! While the Association may not be able to give you conclusive evidence that your chosen real estate agent is either the best or worst in the business, they should speak English and should be able to give you some reassurance towards calming your worries. Besides checking the details of any real estate agent with the Association, if you know anyone in Cyprus, you might also want to ask them if they have any recommendations.

Also, with the European Confederation of Real Estate Agents trying to harmonise the standards of real estate agents across Europe( which these days includes Cyprus) , the Association should be able to give you the name of some reputable real estate agents in the area where you are looking. In fairness, there is rarely anything as good as a good recommendation given by word- of- mouth. In most cases, the sites also have a good selection of pictures of properties, if nothing else, which, will give you some idea of the types of property that the agent commonly deals with. Finally, if you are still in the UK looking for property in Cyprus before you go, then the Internet has a wide selection of Cyprus real estate agents advertising their wares. But, keep in mind that although many Brits do use the services of English- speaking real estate agents they found on the Internet, the Internet itself is no assurance that the real estate agent is going to be good- so if you do find an agent this way, try to get testimony from someone who has used them before or ask for proof that they re a member of the Association.

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Lastly, Go After Your First Deal

Category: Finance, Real Estate.

By now you know you want to be in the apartment buying business. I know we all want to become insanely rich with real estate investments.

The process is fairly simple if you consider this three step plan: STEP 1- Decide which horse you re going to ride: First things first, before you can get started as a real estate entrepreneur, you have to know what you want to do. But we have to have a focus. How about 10- units, 50- units, or 100- units? The questions to ask yourself are: Do you want to invest in duplexes, quads, triplexes? Are you interested in wholesaling, or retailing these, rehabbing properties? Trust me, you must have a focus or you will get caught in a web of great ideas that will lead you nowhere. There are so many options.

STEP 2- Don t get caught up in paralysis of analysis. The best strategy is to learn the basics. That s the worst success killer in the business. Don t confuse this with learning everything there is to know before you do anything. It took me seven months do my first deal. It is not possible to expect to be an expert before you begin.

That s right! I overanalyzed each and every step. Seven months. I made the mistake of focusing all of my attention on this one deal. In my case I was lucky. There was no guarantee that this deal was going to close, but I still didn t consider looking at any other deals during this time entire process. The deal did close and the end result was great.

But think about all the wasted time I did over analyzing deals. I ended up netting$ 25, 000 at close. Better yet, think about all of the potential deals and money I could have considered, if I had looked at other deals. If you want to become an apartment investor, then keep in mind that there is no such thing as lack of time. STEP 3- Proceed immediately to your first deal. Every human being has the same number of hours in a day as you do.

You must determine exactly what you want to do and give it your laser beam focus. To become an successful entrepreneur, it is important to choice carefully what you do with your time. Keep in mind that it s OK. to fear failure, but you must give yourself a chance. Lastly, go after your first deal. Occasional failure is good as long as you are failing forward and learning from it. It s your future and the only way. to predict your future is to create it! Always Remember, You Can Replace Your Income With One Deal!

And. . .

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But Spain Has A Lot Of Other Things To Offer As Well

Category: Finance, Real Estate.

You might have heard a lot about the crowded beaches, flamenco dancers and bullfights in Spain. But Spain has a lot of other things to offer as well.

Well, the country is certainly famous for all these attractions. You can enjoy a clement climate round the year, lead a relaxed life, and wine and dine at your heart s content if you have place to stay there. You will have Spanish property to rent at affordable rates. Don t worry about accommodation. There are options for all& #9472. From luxury apartments to budget accommodations, Spain has options for anybody and everybody. The well- offs and the abstemious.

With the north resembling the rolling green hills of Ireland and the south giving you a taste of Moroccan landscapes and architecture, the country offers spectacular beauty and rich diversity. The rich past of the country is reflected in its prehistoric cave paintings, crumbling castles, Moorish palaces, Roman ruins, and Gothic and Renaissance cathedrals. Living in Spain means spending time in holidaying for the whole year. Together with it, there is the distinctive modern architecture and other new developments. This probably explains the craze for Spanish property! And the result is designer living.

That Spain has certain uniqueness about it is probably because separate kingdoms made up the original Spanish nation. Excellent architecture in C�rdoba, Granada, Salamanca, Toledo and Madrid. In their language, cuisine and art, culture these regions are quite diverse. Quiet beaches near Malaga, Huelva and Almer�a provide an especially pleasant living. No matter which part of Spain country you want to have an accommodation, a property agent can easily manage one for you. In order to get a first hand experience of it, you can approach the agents who have Spanish property to rent. Spanish people are very open- hearted and communicative and so are the agents.

Being available on the Internet, they remain accessible with a few clicks of the mouse. They provide service to those who want Spanish property to rent.

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Have You Ever Considered Getting A Home Mortgage

Category: Finance, Real Estate.

Have you ever considered getting a home mortgage? A Bank home loan can help you achieve your dream of becoming a homeowner.

If you live in Turkey or Istanbul, you should definitely consider it. Don t let finances or bad credit hold you back from realizing your potential. Could you imagine saving up to purchase a home outright? Home mortgages are not yet started in Turkey but longer term home loan credits are a great way to buy a home and maintain lower monthly payments. No one can do that unless they re rich! You will need a good credit report in order to obtain a home mortgage, but if you have good credit, there really shouldn t be any problem.

Once established home mortgages in Turkey and Istanbul can help you buy a house and make it a home. You should be able to see a lender and soon be living in the home you ve always wanted in no time at all. If you jump into a mortgage without doing any background research, you ll be sorry in the long run. Just don t forget to really do your research on home mortgages in Turkey and Istanbul. Getting home mortgages in Turkey should be a big deal for you. If you have your credit and finances in order, it should be relatively easy to obtain a mortgage with a good interest rate and low monthly payments. While it will be a life- changing event, it shouldn t be that difficult.

Home mortgages in Istanbul are a great way to buy a home that you ve always wanted, regardless of the amount of money in your savings account. Having a mortgage is a commitment, after all and it should be treated as such. All that matters is that you have good credit standing and a commitment to paying your bills on time every time. While home mortgages in Turkey may not be right for everyone, it may be the perfect option for you. If this sounds like you, home mortgages in Turkey or Istanbul would be perfect for you. Perhaps you are new parents, seeking a home to settle down and raise a family in. Or, maybe you re tired of the apartment life and would like to have much more space of your own, with your very own garden.

If any of these situations sound like your current situation, you may want to consider getting a home mortgage( once they start) or a bank loan for purchasing a home in Turkey or Istanbul. Perhaps you just want to have a place that you can call yours and all yours, without the overhanging thought of rent gouging and problems with the lease. A simple call to your local lender could make all the difference in the world. Take the right steps toward becoming a homeowner today!

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Downtown Austin Is Growing Faster Than Ever

Category: Finance, Real Estate.

Downtown Austin is growing faster than ever. The city council and the community in gereral is pushing for growing the downtown into a live- work area with high density, and living upstairs, shops downstairs.

Well, but more than, maybe not ever in the last 14 years I have lived here. The term is" multi- use" and it is pretty much pretty much the montra for Austin real estate. A couple condos are situated at the turn of the river in downtown Austin, taking advantage of views down the river. There are 10+ condo projects going up in the next couple years that cater to the different appeals of living in downtown Austin. The first time I saw the views, I was pretty surprised. One nice aspect about these places is that there is not much chance of anything being built in the way of the river view since you are at the bend.

You can see all the way down the river from the Congress bridge, past the Lamar Bridge, and past downtown. The two places are called The Milago and The Shores. If you want protected river views, The Milago is pretty much it. The Milago is right at the bend of the river with only the Town Lake Trail between it and the water. Also, to get any views, you need to be above the trees and that is at about the 6th floor as well as on the west side of the building. The Shores has a similar view corridor down the river and to the west and is a little more north of the Milago. The east side of the building pretty much has nothing interesting right now.

It has the Mexican- American cultural center being built in front of it and has a low- rise, older townhome project that poses no threat as of now to block the view. Moving on to a another downtown Austin condo sector. This building is not as rectangular as The Milago so more of the units have some sort of view, whether it be the river or downtown. Some hotels are renovating the top floors of their places or building new high- rises next- door to accomodate those who want more high- end services associated with hotels. The Hilton probably has the most upper end units right now called the Five Fifty Five. They will have room service available, concierge, workout facilities, and whatnot. To name a couple slick attributes, they feature wolf ovens, 24hr, wood floors. concierge& security, and walls of windows viewing Austin downtown.

The other downtown Austin aspect of living that some condos will be banking on is the trend to live near walkable shops and restaurants. They have a couple penthouses left. Clarksville is a neighborhood thriving around some shops and restaurants on West Lynn as well as the 6th& Lamar area. There s a local shop to walk to on West Lynn, and if you want more of a supermarket, the Whole Foods mothership headquarters complete with ice rink is at the corner of 6th& Lamar along with REI, Amys Ice Cream, Waterloo Records, and other fun stuff. It is probably the closest actual neighborhood( meaning houses too) to downtown to the west. The Nokonah is right there in the midst of all that.

And of course, people just want to live by cool areas. It was built in 2001, so it is all resale at this point, but a good location with concierge and security. Austin s South Congress is known for probably being the hippest street in Austin. A couple different condo projects are popping up around that area. It is so cool it has been abbreviated to be called SoCo. Most are the loft, slick style that blends with the SoCo area.

It s a smaller condo project at only 14 units available and starting at 380K. One is practically the neighbor of a popular restaurant and club. A larger condo projects is being developed further down south called the SoCo Lofts. They will not really be walkable to the SoCo shopping area but will be creating its own multi- use shopping, and restaurants, retail. These will have bamboo floors and stainless appliances. Since they are a little more south from the saught- after SoCo strip of shops, they are a more affordable option, starting at 225K for a 1- Another area in the south that is trying to model itself after SoCo is being coined as SoLa, or South Lamar. It is not as dense with shops but city plans are in the works to rezone almost everything along the street between the river south to 71 to be multi- use.

SoLa is parallel to SoCo and about 2 main streets west. It could be pretty cool and much more expansive than the current SoCo. One is just south of the river called The Magnolia. There are various condos planned to take advantage of the new SoLa. They ve already begun construction and are moving fast, targeting completion by July 200The funny story behind this location is that it used to be a Wendy s. There are a number of downtown Austin Condos but the new ones that are coming online should widen the selection for people interested in living downtown. It will be interesting to watch Austin develop over the next several years.

Additionally, the increased density should allow for more small shops and businesses to set up shop downtown which will hopefully make downtown a more walkable interesting location for years to come.

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