Is paying a mortgage better than renting?

Many people feel that owning a property is cheaper than renting. They see that some people are paying less on their mortgage than they do in their rent and they feel that having a mortgage is the right things to do. However, there are other things to consider.

Firstly, if you own a house, you have to pay to maintain it. If there is any damage to the building you have to pay to get it fixed, you also have to pay to decorate it. You also have to pay the buildings insurance on it. If you have a mortgage you will also have to pay life insurance that will pay off the mortgage if you die.

If you rent, you will not have to pay out any of these extra expenses. If there is a problem with your house, you will be able to get the landlord to sort them out. It may take a while to get it done, but you will not have to pay out any money for it.

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Owning a  house does mean that you have something for your money. Some people feel like rent is throwing money down the drain, when having a mortgage means that you have money tied up in a property. The thing with this is that you will always need somewhere to live and so you cannot get to this money easily. In fact it is likely that it will only be available when you die. This means that your dependants will benefit from it, which could be something that you think is good.

It is difficult to say whether renting or mortgaging is better. It can depend on your own personal circumstances. You will have to pay for a house about three times over if you have a mortgage and you will have to pay to maintain it over the years and added in with the cost of the insurance it can come to a great deal of money. With renting, you are probably paying a lot less over the years, but you will have nothing to leave to your children when you no longer need a house.

Some people just cannot afford the deposit on a house to be able to have a mortgage. Then renting is going to be the only option for them. However, there are people who can afford a mortgage but would rather rent. It is all a matter of opinion really and something that you need to think hard about with your future in mind as well as your present situation. Talking it over with friends, family and work colleagues can be really helpful.

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The Sheriffs are coming – do you know your rights?

Having unpaid debt causes a great deal of stress. This stress can be made worse if you know you are expecting a visit from a Sheriff Officer about your debt. However, some of that stress can be eased by understanding a bit more about who Sheriff Officers are and the powers they hold.

This article will explain more about Sheriff Officers and what they can and can’t do. It will also tell you where you can get free help to deal with Sheriff Officers.

Who are Sheriff Officers and who do they work for?

Individuals, companies, solicitors, local authorities and government departments can go to the Sheriff Court to obtain court orders for things such as eviction, debt collection and property disputes.

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Sheriff Officers are officers of the Sheriff Court and they have the power to enforce court orders. They are engaged by the person or organisation that has obtained the court order to enforce it on their behalf.

There are lots of firms of Sheriff Officers in Scotland. You may have heard of some of the bigger names such as Scott and Co and Stirling Park. Sheriff Officers can also be self employed.

What powers do Sheriff Officers have to collect debt?

Councils may engage Sheriff Officers to enforce court orders to collect council tax, HMRC tax arrears, non domestic rates, housing benefit overpayment or former tenant arrears. Companies may engage them to collect unpaid consumer debt. Sheriff Officers act on behalf of the creditor (the person, organisation or business that is owed money).

Because they are officers of the Sheriff Court, Sheriff Officers have considerable powers to enforce court orders. However, their official status also means that what they can and can’t do – and can and can’t charge – is strictly regulated.

Sheriff Officers have the authority to negotiate with the person who owes the money to put a repayment plan in place. They can also request information such as employer details, National Insurance number and bank account details to help them with this.

If a repayment plan is not agreed and if the creditor obtains a formal charge for payment from the Sheriff Court, Sheriff Officers have further powers to help them collect the debt that is owed.

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Do You Really Need a House in a Troubled Economy

Some UK homeowners are starting to change the way that you’re looking at the real estate market. The truth is that you don’t have to own a home. Many people actually go their entire lives without owning their own home. However, there is something to be said about having something that’s yours. There is something to be said about having something that you can pass down to your children. But with interest rates being tempting, shouldn’t you go ahead and get your own home in this troubled economy anyway?

The answer might surprise you, but we don’t think that you should go out and automatically purchase a home. There are other factors that you’re going to have to think about if you’re really serious about being a homeowner for the long term. Of course, anybody can be a homeowner for the short term. They can just decide that they’ll make a few payments. But what if you have to think about the future? What if your job changes and you suddenly can’t get the things done that you really want to do? That’s where you start wondering if things are really going to be as put together as you think they will be. You have to start looking at the way the world is, not just the way you think it should be. If you don’t have job security now, why would you go out and get one of the top things in life where you really do need job security to maintain it? It’s something that just doesn’t make a whole lot of sense, if you ask us.

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As long as you’re thinking about this, you need to stop and get a lot more on the plate than just these things. You have to think about how you’re going to save up for that deposit. Sure, you could try to get the home and pay a minimal deposit. But that’s going to bite you in terms of equity. They will also make you get additional insurance to cover the chance of default from the mortgage holder’s point of view.

You want to still think about maintenance costs and council taxes. Taxes and insurance and everything else on a home can be substantial. It’s too quick to just pull out a simple mortgage loan calculator and judge everything by the payments that you’re going to be making on the home. That’s just the mortgage. You have to think about everything that’s involved with the house.

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Jonathan Daines, CEO of lettingaproperty.com comments:

New year, new investment?

If one of your new year’s resolutions is to either become a first-time landlord or grow your property portfolio, don’t delay any longer – now is the time to act!

With stamp duty changes coming into effect from April, you should really begin thinking about your target market, aka your ideal tenant, and start the property search with them firmly in mind.

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Proximity to the property will influence whether you personally manage the investment yourself or have a high street letting agent manage it for you. The former will save valuable funds, which in-turn makes money over the year. For taking a few hours initially and an hour a month (if required) of your time, it may be worth it to some, particularly if you have a lower rental yield.

Any property bought closer to you will make it easier and cheaper to get tenant-ready and manage any maintenance issues directly. Keeping it local and within your control will always mean more money can be saved and revert what are normally high agency costs into a positive rental yield.

If you decide to take on a buy-to-let investment and manage it personally, you have saved and made money already! Online Letting agents, like lettingaproperty.com are here to facilitate these savings and have supported thousands of buy-to-let landlords already facilitate their investment process.

In the current market of attractive low interest rates, the new year is a great time to become a first-time landlord or grow an existing portfolio – but like all things, if you haven’t done your homework, financial gains can quickly turn to losses.

So if you are looking to invest in 2016 – go for it but make sure you weigh up all the pros and cons first and remember to do the maths!

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Becoming Skilled With Binary Options is a Process – Here’s How

The interesting thing about information is that while it’s often free, the application of it does cost you something. Getting quality information requires time and energy, but we’re lowering the cost of getting into binary options by giving you the overall process. Saving you time might as well be saving you money, when you really think about it.

Binary options trading is all about looking at whether or not you’re going to say “yes” or “no” to a trade. Binary options look at whether or not a specific asset is going to be above a certain price at a very specific time. If you believe that this will be true, you win and are considered “in the money”. But if your estimate is incorrect, you lose in the trade and you forfeit the amount invested.

Binary Options

Why Binary Options Are So Popular

Speed is one of the top characteristics that investors look for in a trading deal, and binary options trades deliver this very easily. Will the price of a currency be above a certain amount by 1330 today? If you think that it will, you can just make a binary call option. You buy the contract option at a set ask price, which allows you to calculate your profit. You can’t win or lose more than 100 USD, so this allows for a lot of testing and even a bit more speculation than in other places. It’s very difficult to lose your complete nest egg in one trade, the way it is with other types of investing.

Once you get into it, the system reveals itself. Looking at bid and ask prices all day might be hard to do on pen and paper, but most binary trading platforms make this very easy. If you want to get started with the concept without spending any money, there is often a “practice” mode that you can use. You can also read more in-depth strategies and reviews on Binary Options Buff site.

Binary Exercising – The Payoff

American or European? No, we’re not talking about coffee or buildings or anything else — we’re still talking about binary trading! The style of exercising your options depends on what you prefer. With European-style execution, you can only exercise the contract on the last day prior to expiration or the actual expiration day. American-style execution allows you a bit more flexibility, giving you the freedom to settle the trade at any time before the expiration date. Try both styles to see what you like!

Do we believe that binary options have a future? Not only do we believe so, we think that this is a great option for newer investors that want a chance at profit without crippling risk. Check it out for yourself and see what you think.

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Safe trading is Profitable trading – Check out the Possibilities

Trading online is a mixture of effectiveness, safety, and flexibility. In order to be a successful trader for the long term, you have to constantly look at patterns, figure out where you want to strike and then have a platform that allows you to strike quickly and consistently. That’s the name of the game, and we found a place where you can reach those goals with ease: ETX Capital.

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We wanted to find a place that would match certain “must haves” on our list: ease of use, flexibility, and consistency throughout the entire site. ETX took the time to build a wonderful solution that addressed these issues. If you’re going to get into binary options trading, for example, you don’t want to migrate between platforms too often. We like to be able to log in, make our moves, and log out after a time. Nowhere in that list is dealing with site slowdowns, missing files, or other platform bugs that seem to pop up around the web. You must make sure that you’re looking at a platform based on what you need to get out of it, rather than what everyone else needs. After all, every investor has different goals.

It should be noted that these are all leverage options that do have some risk to them. Not every trade will be a winning trade, and ETX Capital does pour on the education in a way that makes them stand out as a trustworthy source. Far too many platforms online assume and insist that everything will just be rainbows and sunshine if we become investors, but seasoned types will happily tell you otherwise. Online, this is the difference between a long term relationship with a platform and not being able to forge that type of bond.

Check out the possibilities of trading at a consistent platform like ETX Capital. If you’re new to all of this, really take time to go over all of the educational links they provide directly on the site. Even if you’re used to trading online, still give all of the material they offer a spin before you get fully committed. You’ll feel better in the long run, and you’ll get up to speed faster. Happy trading!

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Don’t Overlook Landlording as an Income Strategy

Becoming a landlord isn’t for the faint at heart or the timid. There are pluses and minuses to becoming a landlord. While it’s true that it’s a great way to add income to your bottom line, you also have to be pretty responsible.  You’re opening a second home to people that you really don’t know, and forming a business deal with them of sorts. In exchange for money, they will have full reign of your property until the day that they move out. Then you have to make the place ready for the next person, which is going to take some time.

There are a few things that you need to keep in mind if you’re going to become a landlord and stay one for the long term.

1. Background check everyone

We’re firm believers in giving everyone a chance, but that doesn’t mean that we have the space to be reckless. It’s important that you interview all applicants thoroughly. This includes a credit and background check. Now some people feel that this is an invasion of privacy but they are going to be renting your property. That’s something that requires a high degree of trust. Make sure that you background check people appropriately before you make the big decision to take them on as a tenant.

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Don’t be afraid to call their references. Some people put down false information because they think that you won’t call them out on it. But they couldn’t be any more wrong: you absolutely will call them out on it, and that means that they won’t get into the property. Routinely check to make sure that they really do have the income to afford the place. Even if they’re self-employed, they will have tax records to back up what they make.

2. Deposit their money properly

You need to read up on all of the rules behind being a landlord, because there are plenty of them. You may be on the hook for a lot of money if you’re not willing to follow the law to the letter. For example, it’s illegal not to put a tenant’s deposit into a DPS, otherwise known as a Deposit Protection Scheme. They will get a little interest on their deposit, and you’ll be able to honestly say that you did the right thing from the beginning.

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