How to Get a Mortgage When You’re Self-Employed

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Being self-employed comes with a number of challenges. One of the biggest ones involves having enough information to obtain a mortgage. But being self-employed shouldn’t be a barrier to achieving your dream of homeownership. Instead, just make sure you are properly prepared before you begin, and you may find the entire process is easier than you imagined.

If you want to know what you need to prepare in order to get a mortgage as a self-employed person, start with these tips.

Your Savings Matters

Having sufficient savings is a requirement for any mortgage. However, self-employed individuals need to put extra effort into acquiring the necessary funds, as it may be harder to find lenders that will work outside of standard terms.

The largest savings factor for purchasing a home is a down payment. This represents a specific amount of the purchase price of the home. The purpose of a down payment is to help create equity when the purchase is made. This provides extra security for the lender in the case you are unable to make payments as there is additional value in the home beyond what you owe on the mortgage.

How to Get a Mortgage When You’re Self-Employed

You will also need additional funds set aside to handle certain tasks associated with the purchase. This can include fees associated with acquiring appraisals or home inspections. While these may or may not be mandatory, it is wise to complete them before buying a home. This helps lower the likelihood of unpleasant surprises after the purchase is made, such as unanticipated issues with the structure.

If you want to make sure you leave the best impression with lenders, you also need to have approximately one year of mortgage payments set aside. This provides a buffer should an unexpected change in your self-employment income affect your ability to pay your mortgage based on incoming funds.

Issues of Income

You can get a mortgage with no proof of income, in a traditional sense. Employees of companies often have paystubs and can provide reasonable evidence regarding what they will make in the future. Self-employment can fluctuate from month to month, and that fact makes lenders nervous. Even if you don’t have traditional paystubs, you do have documentation that demonstrates your income.

Gather all information that shows how much money comes in from your self-employment activities. This can include invoices, deposits, and records required for tax purposes. While these don’t necessarily provide a definitive answer regarding what you will make the next month, it can show what your normal monthly income looks like. That may be enough for lenders who are open to working with self-employed individuals.

Review Lending Options

As a self-employed individual, your best bet in finding a suitable lender is to shop around. Research options available through multiple lenders, including financial institutions with whom you have a current or previous relationship. If your primary bank offers mortgages to self-employed persons, you may have an easier time working with them if they also receive deposits from your self-employed income. A preexisting relationship in these cases may improve your chance of approval.

However, there is no requirement to work with a particular bank if another lender offers a better deal. If you can find substantial savings by working with another reputable financial institution, then you may want to consider going there for the long-term savings that may come with the deal.

Have your potential lender review your information, and see if you are approved. If so, you can move forward with your dream of buying a house.

Financing Options for UK Homeowners with Mortgages Looking to Renovate or Sell

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When you have a property you need to renovate or sell, but you are still paying on the mortgage, it can feel as though your options are limited. However, a current mortgage doesn’t have to be a barrier to moving forward with your plans. Depending on your exact situation, you may have multiple options that will let you accomplish your goals even if you are still repaying the borrowed funds. In some cases, you don’t even have to have great credit to make your dream a reality.

Financing Options for UK Homeowners with Mortgages Looking to Renovate or Sell

Selling While Buying

One of the more common issues UK homeowners face when they have a mortgage is coordinating their finances to allow them to purchase a different home. This can happen when you family has outgrown its current home, needs to change locations or needs to downsize.

Timing the purchase of a new home with the sale of your current home might not be feasible. But it can be difficult to secure a new mortgage when your current mortgage isn’t paid in full. To help make the transition more manageable, a bridging loan can help coordinate the event more effective.

Bridging loans provide funds, secured by the value of your current property, which allows you to repay your current mortgage. Then, you can get a new mortgage on the property you are interested in purchasing with greater ease. Once your current home sells, you can pay off the remaining funds associated with the bridging loan, returning your finances to a state of normalcy.

If you want more information, go to http://www.euroguide.org/why-use-bridging-finance/buy-to-let/

Renovating to Sell or Stay

Bridging loans also allow homeowners with mortgages the opportunity to renovate their property prior to a sale of for personal use. The bridging loan can tap into your home’s equity, allowing you to get the fund you need to make improvements. Once the work is complete, you can refinance your current mortgage to cover the bridging loan based on your home’s new value.

You can also sell your property at a higher price based on the improvements. Then, once the sale is finalized, you simply pay off the bridging loan and the associated mortgage.

Since bridging loans are secured by the value of your property, you can often obtain more favorable interest rates than with a regular personal loan. Additionally, the approval process may not be as stringent as those associated with unsecured loans, making it easier to go forward with your project even if you don’t have the best credit.

In some cases, proof of income isn’t required to secure a bridging loan. This can make the process move more quickly when you need to secure funds fast to manage a project. Though approval times can vary, many can receive the agreed upon amount in as little as 48 hours.

Manage Credit Responsibly

Bridging loans can have a positive or negative impact on your credit depending on how the process is managed. Failure to repay the funds as agreed can hurt your credit report and associated credit score. This can make it difficult to obtain financing in the future or may lead to higher interest rates. However, meeting the repayment obligation can reflect positively on your credit over time. This can improve your chance of being approved by lenders in the future or may even lead to lower interest rates on future loans. By handling your obligation responsibly, you can set yourself up for a brighter financial future.

A Few Interior Trends You’ll Love at the Year 2017

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You know that your home is one of the things that you cannot help but become proud of. You change it depending on what suits your preference and even though you will not admit it, you may change it depending on the trend.

Unlike before wherein home trends do not change that much, you will notice that the colours that people use to decorate the interior of their home may drastically change from time to time. It will be up to you if you are up to using the colours that are recommended and considered trendy or if you would rather just stick with the colours that you have at home.

A Few Interior Trends You’ll Love at the Year 2017

If in case you plan to renovate your home this 2017, here are just some of the trends that you ought to watch out for:

  1. The use of cork.

There was a time when using cork was extremely popular but over the past years, people forgot about it. For the year 2017, cork is going to make a comeback and it can be ideal for you. Aside from the fact that it is easy to pair with all the other designs that you may have, it can also make your home seem larger. It also helps eliminate noises so the room you will place cork in will seem almost sound proof.

  1. Shades of Dark Green

Over the last months of 2016, the colour green started to make an appearance. Instead of the usual blues, you can make use of green for your sofas and your beddings. The shades are not exactly similar but the effect will almost be the same. You do know that dark green will work best with certain shades, colours and decorations so if you plan on using dark green, plan the right decors that you are going to use with it. Learn more about the colour trends when you check this out.

  1. Simple Rooms

Humans are constantly adapting to the new things that are available to different individuals. For example, technology is everywhere and while humans know that technology has changed their lives entirely, they cannot help but wish to escape from technology from time to time. A simple room may be void of any form of technology. Rather, it would be a place wherein people can relax and just isolate themselves from the rest of the world. You may want to have this type of room in your home too.

  1. Industrial Aesthetics

If you are fond of a minimalist look then you will definitely like the industrial aesthetics that 2017 can offer. If you have used bright and shiny metals in order to accentuate the design of your home then you may want to think twice if you are going to leave those shiny decorations or change them up with designs that come with a more industrial feel.

If you have loved your marble counterparts, you ought to know that it may not be considered trendy for the year 2017 but since it is fairly easy to pair with other decorations, you may want to keep it until they become on trend again. Again, the choice will be up to you. Just make sure that you will hire the best general contractor in Houston to help you out so that you can get the aesthetic you want for the year.

How to create the perfect home gym

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Having your own gym at home is becoming a more popular solution for many people. It is convenient and saves you a bundle on annual gym membership fees. The great part about it is that it doesn’t necessarily have to cost a fortune. It is good to have all the necessary equipment but sometimes you can do great without the luxury items. The first thing you would need to consider when deciding to have a gym installed at your home is how much you are willing to spend. This will determine if you are going hardcore cardio or just regular equipment. With so many options available you should really consider a few factors to help you make your mind up and to get you working out in no time.

How to create the perfect home gym

As previously mentioned set a budget of what you are willing to spend on your gym. How much are you willing to part with for this expense? Which items can’t you go without and do you need to decorate the entire place? These are all questions you might be faced with when deciding what to spend on your gym. The atmosphere of your gym must be filled with posters and décor that inspires you to do better. Exercising requires motivation at all times so there is nothing wrong with a bit of paraphernalia where needed. Make the space your own with your style. Click here to take a look at some great home gyms.

Your next step would be to get hold of the right equipment. If you are looking at all rounder machines you might want to invest in a barbell and plate set which is great for legs, back, shoulders, chest and arms. The experts believe that every gym needs a good sturdy bench so that might be a good investment for you.  If you are leaning more to weightlifting you need to install a rack which is rather big and needs quite a bit of space. If you were perhaps interested in quality exercises with simple equipment that will not take up any space in your house you can take a look at Norwell Outdoor Fitness. They offer a solution that is great for the whole family and with these outdoor gym installations you will be able to get your daily exercise in the calm of your own backyard.

If you are looking at cardio you can invest in rather expensive equipment like treadmills or cross trainers but as previously mentioned it is at a cost and you might not have the funds available. There are actually other ways for you to do cardio exercises that will not cost you an arm and a leg. This can be done inside or outside with ease. If you are centered on training in your gym you should allocate a bit of space with a few mats for cardio exercises. Click here for some of the most effective free cardio exercises available online. Remember that a punch bag or a spin bike works wonders.

Financing Options for UK Homeowners with Mortgages Looking to Renovate or Sell

home No Comment

When you have a property you need to renovate or sell, but you are still paying on the mortgage, it can feel as though your options are limited. However, a current mortgage doesn’t have to be a barrier to moving forward with your plans. Depending on your exact situation, you may have multiple options that will let you accomplish your goals even if you are still repaying the borrowed funds. In some cases, you don’t even have to have great credit to make your dream a reality.

Selling While Buying

One of the more common issues UK homeowners face when they have a mortgage is coordinating their finances to allow them to purchase a different home. This can happen when you family has outgrown its current home, needs to change locations or needs to downsize.

Timing the purchase of a new home with the sale of your current home might not be feasible. But it can be difficult to secure a new mortgage when your current mortgage isn’t paid in full. To help make the transition more manageable, a bridging loan can help coordinate the event more effective.

Bridging loans provide funds, secured by the value of your current property, which allows you to repay your current mortgage. Then, you can get a new mortgage on the property you are interested in purchasing with greater ease. Once your current home sells, you can pay off the remaining funds associated with the bridging loan, returning your finances to a state of normalcy.

If you want more information, go to http://www.euroguide.org/why-use-bridging-finance/buy-to-let/

Renovating to Sell or Stay

Bridging loans also allow homeowners with mortgages the opportunity to renovate their property prior to a sale of for personal use. The bridging loan can tap into your home’s equity, allowing you to get the fund you need to make improvements. Once the work is complete, you can refinance your current mortgage to cover the bridging loan based on your home’s new value.

You can also sell your property at a higher price based on the improvements. Then, once the sale is finalized, you simply pay off the bridging loan and the associated mortgage.

Since bridging loans are secured by the value of your property, you can often obtain more favorable interest rates than with a regular personal loan. Additionally, the approval process may not be as stringent as those associated with unsecured loans, making it easier to go forward with your project even if you don’t have the best credit.

In some cases, proof of income isn’t required to secure a bridging loan. This can make the process move more quickly when you need to secure funds fast to manage a project. Though approval times can vary, many can receive the agreed upon amount in as little as 48 hours.

Manage Credit Responsibly

Bridging loans can have a positive or negative impact on your credit depending on how the process is managed. Failure to repay the funds as agreed can hurt your credit report and associated credit score. This can make it difficult to obtain financing in the future or may lead to higher interest rates. However, meeting the repayment obligation can reflect positively on your credit over time. This can improve your chance of being approved by lenders in the future or may even lead to lower interest rates on future loans. By handling your obligation responsibly, you can set yourself up for a brighter financial future.

How to Take Care of Your Attic – Home Maintenance Tips

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When it’s utilized effectively, the attic offers a gigantic measure of extra storage room. As opposed to hurling the greater part of your unused furniture and boxes into the guest room, you can store them in the attic where they are out of your way. Unfortunately, most property owners throw so much junk into their attic that it turns into a giant pile of unattended garbage. With a tiny bit of work, in any case, you can clean and restore your attic.

If you let things get worse, you might even see some squirrels flying around in your attic. If such a situation arises, you need to hire expert help. Check out Flying Squirrels in the Attic – Signs, Noises and Removal Tips for more helpful information.

How to Take Care of Your Attic – Home Maintenance Tips

Tip #1) Remove Debris and Damaged Insulation

You can’t hope to keep up a spotless storage room if it’s loaded with garbage. On the off chance that you haven’t done as such as of now, examine your attic and begin hauling out any bits and pieces of garbage and waste that you go over. This may include any damaged goods, wet cardboard boxes, pine straw, and so forth. Another thing that you can do is bring up a trash bag with you while you head over to clean your attic. This will ensure that you don’t drop any debris on the floor, and ever thing piles up in the trash bag that can then be easily discarded.

Tip #2) Consolidate Boxes

Expecting there are boxes put away in your attic, you ought to simply ahead and combine them into a more composed heap. Maybe you could take the items of two boxes and merge them into one to spare space, or perhaps you can modify them into an all the more systematic design. Dealing with all the boxes stacked up in your attic may seem like a boring thing to do (and it probably is) but you will be truly surprised to see how much space you are able to save once you get done with the task.

Tip #3) Dusting

Do you recall the last time you cleaned your attic? Whether it’s been a month, a year or never, you ought to retreat through your loft to give it a decent cleaning. Try not to stress over hand-wiping every last uncovered surface in your attic, instead use a dusting device that has a pole attached to it to ensure perfect cleaning. Getting rid of the dust and webs won’t just make your storage room look clean, however it will surely prevent spiders from living in your attic.

Tip #4) Look For Moisture

When you’re cleaning your storage room, glance around to check whether you see any ranges of moistness around the attic. Permitting your storage room to experience the ill effects of extra un-needed dampness — whether it’s from humidity or a rooftop that’s leaking— can basically harm any containers or things put away here. The main issue is that you should recognize and get rid of any sources that could be causing moisture inside your attic.

How to Properly Care for All of Your Floors

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Whether you are a homeowner or a renter, you have to care for your floors. Depending on the materials involved, you may need to use different methods or equipment to get the best results. So, if you want to make sure that you are treating your floors right, here are some tips to get your cleaning routine in order.

Carpets and Rugs

Most people clean their carpets and rugs by simply running a basic vacuum cleaner over the surface on a regular basis. While this will work for surface dust, pollen, and debris, a traditional vacuum does not offer a deep cleaning experience. Certain specialty vacuum cleaners can provide additional functionality through the use of high-quality suction and clean water (learn more). This process can be a godsend for those who suffer from indoor or outdoor allergies while also ensuring your carpets and rugs are as clean as possible.

How to Properly Care for All of Your Floors

Tile

While sweeping and vacuuming will help remove dust and dirt as well as sand and grit. While dust and dirt won’t harm most floors, sand and grit can actually damage the surface of glazed tiles. That means they need to be cleaned more regularly to ensure that any potentially damaging materials are removed before they can do damage. You will also want to regularly mop to floors with a mild detergent and a rag-type mop.

Managing the grout lines can be a little trickier. Since the grout material is porous, grease and other substances can seep in and stain the grout lines. Luckily, a simple paste of baking soda and water, and a bit of elbow grease can actually do wonders. Plus, it is all natural, so you don’t have to worry about children or pets on the floors.

Tile floors often exist in high-traffic areas like the kitchen and bathroom, and both of these areas are prone to spills. Make sure to clean them on a regular basis, though deep cleaning the grout can be done on an as needed basis.

Hardwood

Preventative maintenance is the key to hardwood floor care. This can include using mats near entrances to get dirt and debris off of shoes before it enters the house as well as having rugs in areas where kid’s toys are used that could scratch the floor.

When it comes time to clean the surfaces, start with a dry mop that has been sprayed with a dusting agent. That will pick up surface dirt, dust, and pet hair that can damage the surface of the floor. Then, vacuum the surface on a weekly basis using a floor brush attachment. Other brush configurations may damage the surface, so it is important to find an option designed for hardwood flooring.

When dirt builds up, use a cleaning product designed specifically for wood floors. Follow the instructions on the label regarding the strength of the solution, and use a soft sponge or rag mop across the surface. Make sure that the mop is only slightly damp, as pooled water can be damaging to wood flooring. If excess water is found, wipe it up immediately. And, in humid climates, make sure to keep air circulating with fans or a breeze to help speed the drying process.

Ways to increase the value of your home

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There are some people that would like to sell their homes one day and get a return on the investment they made. This is actually a great concept as property is known to be one of the best investment opportunities. It is however likely that you would need to make a couple of renovations to get the most out of your property. The question is where does one begin? A house can also get wear and tear after a couple of years as there are elements to face and various other obstacles. If your idea is to maximize your property investment you might want to continue reading for some fantastic renovation ideas.

It has become all the rage for home owners to refurbish their basements and also expand them. It is said that you can always get more out of your house by building down. There are some great ideas that include a bar, home cinema and for the really luxurious few you could even have a pool in your basement. Click here to take a look at some fantastic basement ideas.

Ways to increase the value of your home

Add a deck to your outside entertainment area. A wooden deck is beautiful and adds style and class to every home. Everyone loves to relax on the deck with a cold drink and some sunshine. It is said that this will increase up to 76% of your investment. This option is completely worth it if you consider that plus you and your family will get to enjoy the deck while still living there. Make sure that you select the right size deck for your property.

It is also a great idea to fix up the roof with perhaps a customized design. Your roof is one of the first features that buyers will see which means you want it to look good. Take a look at http://kennedyroofs.com/ for a great solution to roofing problems. These guys are highly skilled at anything to do with roofing which includes customized options. Don’t lose out on the best deal for the best job and make your home sturdy again. Painting is always necessary because the face of a model is the first thing that gets judged. The same applies to your home; outside and in you want the best paint job done. This will make your house visually attractive and also increase the value of your home. It just looks better if the paint job is done right.

Remember that there is nothing wrong with reviving your kitchen and bathroom to give your home a whole new look. A beautiful new bathroom and kitchen will attract the right type of client that is willing to pay for luxury and style. There is nothing worse than a tasteless kitchen and grimy bathroom when purchasing property. This will give you that extra boost when it comes to making a great return on your property when you are ready to sell. Click here for some fantastic kitchen remodeling ideas.

Some Ideas for Displaying Art

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The home that you are living in right now reflects your style and personality. As much as possible, you would like to enhance and improve it the best way that you can. You may have focused a lot of your attention on the furniture that you are going to use as well as the different designs that you want that you have forgotten your walls. Take a good look at your bare walls. Do you want them to stay bare forever? Your answer is probably no.

With the use of the right artwork, you can make a room more appealing. You can give any room of your home have its own personality. Art work does not necessarily have to be an oil painting. It can be a photograph that you have taken before. You used a camera that you purchased from 42nd Street Photo. It is normal to aspire for the right camera that you can use to take pictures of your surroundings and the people that you love the most. The moment that you have the right photos, you just want to display them.

Some Ideas for Displaying Art

In order to incorporate the pictures that you have taken into the rest of your artwork, here are a few tips:

  1. Make sure that you have a mixture of paintings, photographs and sculptures. It will be ideal if you can have different ones from your different travels in order to add variety to an otherwise plain wall.
  2. Get to know the space of the wall that you would have to fill up. If you would have to fill up a big amount of space, you need a big artwork for that. If you want, you can also choose to have various paintings and photographs concentrated on one space of your wall.
  3. Place the art work at eye level. This will allow you to appreciate it more. At the same time, the artwork can be the centerpiece of the whole room. Your concept of eye level may differ depending on whether you would like it to be leveled when you are sitting down or standing up.
  4. Choose acrylic frames when it comes to photography. If you would like to use photo art, then acrylic frames will never fail to look good no matter what the concept of your style and design is.
  5. Start investing in great pieces of art that you will always use. You may want to buy a large art piece but this costs too much money. You can invest on smaller pieces instead that will all work well together. Think about the type of art that you want and what you are most interested in. This will allow you to choose better.

If you would like to DIY the art piece that you are going to place at your own home, it will be up to you. You can do this if you want to save but you do not want your walls to look bare. Can you think of other concepts that will help you incorporate art into your home?

8 Home Decoration Tips for People on a Tight Budget

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Having a beautiful home is definitely every person’s dream out there. The more beautiful your home is, the more likely you are to spend time living there. It is not necessary to have money to get your home decorated. You can even set it with the old stuff available with a slight effort. Here are some tips to decorate your home beautifully.

8 Home Decoration Tips for People on a Tight Budget

  • Get your walls painted colorfully: Painting the walls with different colors is never out of fashion. To make your home look attractive, you can get the walls texture painted with different prints, bold wallpapers. Contrasting the colors looks amazing.
  • Hang plates or your own art: Keeping in mind the color of your walls, you can hang plates which fully contrast with the wall. If not the plates, you can do your own piece of art work and get it framed. The framed work looks beautiful even if it is not professionally painted.
  • Hang different crafty stuff: You can utilize your old printed carpets if any that are not in use by cutting them into different styles and shapes. Then paste them into a frame and hang them on the wall. It will look antique and lovely.
  • Use some natural things: You can use sea shells, wood pieces and different potpourris to warm up the kitchen, living room, drawing room and even your entrance.
  • Hang your gallery pictures: There are ways to portray your memories either by framing them and hanging on walls in different styles or by pasting several pictures on a single bored and displaying them.
  • Lighten up your home with candles: Lighting up the candles in clusters look beautiful especially in living rooms, drawing rooms and coffee tables. Placing four to six candles of different sizes with similar colors inside a glass makes the surrounding look very elegant.
  • Fill up the tables with flowers: Flowers give a sense of peace and spread beautiful fragrance all over the surrounding. It is not necessary to get fresh flowers, you can decorate the place by putting artificial flowers in elegant vases. Other than this you can place moderate sized indoor plants near your entrance which give a very rich look.
  • Inspirational Scouting: Placing normal sized scouting right in the middle of your entrance give a very antique and rich look. It can also depict your taste and interest towards decorating the area.
  • Hire an expert: If you think that your own ideas of decorating the home will turn out to be a disaster, then why take the risk? You can simply hire an expert in this regard. There are experts for everything out there. Just like Mark Dubowitz is an expert on Sanctions against Iran (in addition to being the executive director of Foundation for Defense of Democracies), similarly you can find an expert to decorate your house for you. Make sure that the person you hire is qualified just like Mark Dubowitz is as he has a master’s degree in international public policy from Johns Hopkins University’s School of Advanced International Studies, and law and MBA degrees from the University of Toronto.

There are numerous ways to decorate your home. All you need to do is develop an interest and make some efforts accordingly.

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