Financial Services

By Michael Sterios

The attractiveness of self-certification mortgage products is boosting the overall number of home loan applications in the UK. For true self-cert products, the applicant does not need to fully prove their income by way of documentary evidence such as pay slips and tax records. Rather, applicants will make a declaration of income to the lender based on their past earnings and expected future income.

Self-certification mortgage products are growing in popularity as more people receive income in variable patterns and through non-standard forms such as bonuses and commissions. Originally self-cert home loans were designed for the self-employed. The changing composition of the workforces has, however, meant that many employees cannot fully prove their employment income as well.

Not having to fully prove income is believed by some analysts to increase the risk of over borrowing and therefore repossession. However, provided the applicant does not exaggerate their income on their mortgage application, they should only be approved to borrow the maximum amount they can afford to repay in accordance with the lenders’ criteria.

Additionally, lying about income on any home loan application is a criminal offense meaning there are severe consequences if a fraudster is caught by the authorities. These days more and more lenders are challenging applicants’ income declarations, reducing the likelihood of borrowing putting themselves at financial risk and catching criminals in the process.

Interest rates are usually higher on self-certification mortgage products than for standard mortgage products and loan-to-values can also be lower. This means the borrower will have to fund a larger deposit thereby increasing their initial investment in their own home. This is due to the fact that lenders believe self-cert applicants represent a higher risk to them than standard applicants.

This can act as an extra incentive for applicants to not lie about their income and over borrow on their mortgage. If the borrower has their own money at risk because of the larger deposit they were required to contribute they are more likely to not over borrow and increase the risk of repossession. If they are repossessed they will most likely not recover their deposit funds as the property will no doubt be sold at a discount by the lender at auction.

As the composition of the workforce shifts from more people becoming self-employed, self-certification mortgage products should continue to rise in popularity. It is estimated that a quarter of the UK’s population are already self-employed and therefore have trouble proving their income, and this figure is growing. Mortgage lenders have recognised this which is why self-cert home loan products are so widely available on today’s mortgage market. Demand for self-certs should continue into the future and as a result the products should become more competitive.

If you require a self-certification mortgage you should contact an independent mortgage adviser for expert, impartial advice. An independent broker will be able to advise you on the entire home loan market and can utilise software that can help pinpoint the right product to suit your personal situation. Mortgage brokers usually charge a fee, however the payback could be worth it.

About the Author: Speak to an independent

Mortgage Advisor

and get help with your

Self-Certification Mortgage

needs today

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By Brock Hamilton

More and more people are turning to the internet for work these days. Instead of going from building to building, people just surf on the internet to either look for job openings or for ways to earn on their own. You will actually find a lot of ways to earn big money on your own over the internet. You just have to study each of these opportunities and fit them with your skills. If you keep looking you will find both cool and weird ways to make money. If you are interested to know, here are some weird ways to make money.

One weird way to earn money is by making website directories. It is weird in the sense that you earn money just by creating a website that contains nothing more than a list of websites on the internet. To start you need to decide whether you want a directory that lists anything and everything or a directory that focuses on just a particular topic. If you want to focus on just one topic alone, you need to choose a topic that will surely attract searchers. You do not want a topic that nobody looks for because you will not earn from this. For example you can have a directory that lists schools in a particular state. People will always search for that as it is something that they always need. What you need to avoid for example is to create a directory that lists producers or manufacturers of metallic nail polish. How many people do you think will search for that on the internet in a day?

So how do you earn by making website directories? What you do is you charge people for listing their businesses in your directory. You can create regular paid listing where you charge website owners a certain fee based on standard price list you yourself created. But you can also have a premium paid listing to earn more. Here you charge website owners a higher fee in exchange for a more prominent listing, say presenting their name in bold format to stand out from the rest.

Another weird way to make money is by joining online competitions. Yes, there are actually people who make joining online competitions their bread and butter. If you are a lucky person, you should really give this a try. But even if you are not, you are not prohibited from joining. To give you higher chances of winning, you need to join more competitions. Anyway this is just easy because usually you are just asked a few questions to answer. After you’ve answered some questions, you’ll be asked for some personal information. Companies who sponsor online competitions actually do this to get a list of people they can possibly promote and sell their future products to. It would be to your best interest if you will create an email account which you will use for these competitions. Do not give your personal email address if you do not want it swamped with promotional emails everyday.

Another to increase your chances in winning in these online competitions is by selecting not so popular online contests. Why? Popular competitions are flocked by a lot of participants. This reduces your chances of winning. If you join less popular competitions, you will have fewer people to compete with.

These two are just some of the weird ways to make money online. If you look around, you will surely find more.

About the Author: For more great tips and ideas on how to make money you can visit our website at 101waystomakemoney.com

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By Godspower Daniel

We all have Bank accounts in our respective home countries or residences. No problem with that – it is easy to get. We need this to run our lives, do our day to day activities off-line and so on. It is no big deal or a problem. So it is until I got online to make money two years ago.

When you get online and try to make money, then you realize that the rule of the game will change for you. Suddenly you will realize that you need a US Bank account with a Bank over there in the US. Why? Because 80%-90% of the Internet businesses are controlled by people in US / Canada. That is the way it is for now and in the foreseeable future. And I doubt if the equation is ever going to change at all.

When you want to make money online, in most cases the buyer will be a US native who is either using PayPal or a Credit card to pay for things online. You have got to hook up with PayPal by opening an account with them to receive your payments from other PayPal users. But PayPal only allows people from about 50 countries of the world to use her services. In other words, you can not open an account with them if you are not from these 48-50 countries. Then you realize you are stuck.

What is the alternative if this is your situation?

Get a Merchant account or a third party payment processor to take credit and debit cards payments for you. From our earlier equation, 80%-90% of the time, the guys will be in the US. When it is time for the card company to transfer your money to you less their charges, you are going to receive a check which might take 2-4 weeks to get to you, depending on your location. You get the check, assuming you are lucky it did not get lost in transit, and deposit the same with your Bank in your home country. Your bank sends the check for collection in US – another 2-4 weeks. In US, your funds get cleared in 2-3 business days. Then you get your credit. Now your Bank will charge you about $25 – $45 for the check: remember they have to pay DHL / FedEx to transport your check along with other documents, plus they are in business. Get it?

Now for all they care, your check may be for an amount of between $100 and $200, especially if you are just starting out. If you get 10 – 20 checks in a year (yes you can be getting many checks from various affiliate programs) you might find yourself paying $250 – $900 for the year.

Now compare yourself with someone with a US Bank account. He gets paid by what they call ACH (Automated Clearing House) system. This is just an electronic fund transfer system initiated by individual account owners in US to pay others within a network of some banks in US / Canada. This takes just 2-3 days and bang, your money is in your US bank account. It is mostly free to go. In some case you pay a token. I pay $3 to receive ACH into my US Bank account. I live in Africa and I have access to my funds by use of the Card issued to me by the US bank. I can withdraw money daily at the ATM in my country, no problem! My problem is to make the money go into my US bank account:- Also I can use my Card to buy things online, a privilege not enjoyed by many especially in the developing and under-developed countries.

Now you can see that it is a must for you to have a US bank account if you want to make and retain money from the Internet. But getting one is one of your greatest nightmares as a non-resident. A non-resident refers to the non-US citizens, having no residential base in the country. It is generally put in to the use by the country’s banking sector.

The banking laws as it concerns a non-resident are very strict. It is almost impossible if you do not know how to go about it. The thing is complex and complicated and most Banks will just avoid doing this for non-residents. For them it is a mine field which only a few have mastered. I spent 4 years researching this after I found myself in the above situation earlier mentioned. In my case I even had money trapped with PayPal, after opening my account in PayPal with a US mailing address (perfectly legal).

I found a way to do it and this is now documented in a Special Report. If you need a US Bank account – I think you should get one and start making money online. This is an amazingly lucrative thing to do if mastered rightly. I have opened my US Bank account and I now sell through PayPal, having satisfied all their requirements. You can now get a US Bank account as a non-resident.

You do not need to incorporate a US Company before you can get a US Bank account. That is an expensive approach. Follow the above link to get what you need. I feel you have now realized the importance of a US account as a non-resident. So go ahead and get your own US Bank account now. Do not wait until tomorrow as the laws are constantly changing. What is possible today may not be possible tomorrow. ACT fast. Good Luck.

About the Author: Godspower Daniel is an Internet Wealth Consultant, Writer and CEO of

100MoneyMaker.com

. He is the author of a special Report that will enable you set up your first US bank account as a Non-resident at:

Click Here Now!

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Submitted by: Shahlah Tarub

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