Property - Buy-to-Let - Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



A


Annual Percentage Rate of charge (APR)- the total cost of a loan, including all costs (interest rates, legal fees, etc.)


Advance - a mortgage loan


Abstract Of Title - a summary of the documents which prove your ownership of the property


Assurance (Life) - a life insurance policy linked with a mortgage or loan. A percentage of premium goes toward insuring your life and will pay off loan in event of death. The rest is invested and will pay a lump sum at the end of the term


Auction - public sale where property is sold to highest bidder



B


Balance outstanding - the amount of loan owed at any given time


Broker (Mortgage) - a middleman who finds customers requiring a mortgage a suitable mortgage lender able to provide it. A broker typically executes all undertakings within the loan process from start to finish


Building Society Questionnaire (BSQ) - a form completed by bank, building society or other lender, providing details of an applicant's mortgage account


Buildings insurance - insurance against the cost of building work required on a property resulting from structural damage


Building regulations - the health and safety requirements that any new construction must observe


Building society - a mutual institution owned by its investors and borrowers that provides a range of savings and mortgage-lending schemes


Buy-to-Let scheme - a scheme which allows buying a property with a view purely to let the premises for investment purposes





C



Capped Mortgage - agreed for a fixed period of time with an upper limit on the interest rate. If the standard interest rate is lower than the fixed upper limit the lower rate is charged, when the standard variable rate is higher the agreed rate is charged


Cashback - a type of loan whereby the borrower is given back an agreed amount of money


Chain - a chain of buyers and sellers all relying on each others property sale going through in order to complete their purchase


Charge - a legal term often used to describe a mortgage


Commission - the fee charged for services provided


Completion - a formal completing of a contract of sale - the money transaction is complete and the buyer becomes the legal owner of the property


Contents insurance - insurance against damage / theft of all moveable contents


Contract - The document that sets out the terms of sale between the seller and the buyer of the property


Contractor - a person or a firm that carries out jobs or services under a contract


Conveyancing - the legal work involved in transfering the ownership of land/property


Conveyancer - a person who carries out the legal work involved in buying/selling a property


Council Tax Charge - a tax paid to the local councils to cover the cost of local amenities and services




D


Deeds - see Title Deeds


Deposit - sum of money which the buyer puts down to secure the mortgage loan after exchange of contracts


Discharge - paying off a mortgage


Discounted Rate - it gives a reduction of the Standard Variable Rate (SVR) for a period


Down payment - see Deposit





E


Early redemption - the completion of loan payments before term


Endowment - a life assurance policy producing a lump sum to pay off an interest only mortgage


Equity - the difference between the value of a property and the total of mortgage owed


Estate Agent - an intermediary between sellers and buyers


Exchange of Contracts - the time when the home buyer signs the contract and becomes obliged to complete the purchase within a specific period of time


Ex-local authority property - a property formerly owned by the council





F


Freehold - a situation in which you (the freeholder) own the land or property absolutely and it is yours perpetually


Fixed Rate - the rate is fixed for a period of time and the payments will be over at the end of this period


Fixtures and fittings - all non-structural items included in the purchase of a property


Flexible mortgage - a mortgage giving you the benefit to repay it in line with your circumstances





G


Gazumping - a tactic whereby the seller demands more money, or accepts a higher offer, just before exchange of contracts


Gazundering - a tactic whereby the buyer offers less than the agreed price just before exchange of contracts


Ground Rent - the annual fee which a leaseholder pays to a freeholder






H


Home Buyer's Report - a surveyor's report containing more detail than the valuation


Home Contents Insurance - a policy insuring household contents against damage/theft


Housing Association - a non-profit organisation, which lets you buy a percentage of the property and pay rent on the rest






I


Interest Only Mortgage - a mortgage in which the repayments cover only the interest of the loan, the capital is paid by another repayment vehicle e.g. an endowment policy






J


Joint Mortgage - mortgage shared jointly between two people with the agreement that if one dies, the other automatically inherits the other's share






K


K - symbol for 'thousands' used in denoting house prices, for example £135K






L


Land Certificate - a Land Registry certificate proving ownership of a property


Land Registry - an organisation that keeps a record of land ownership


Leasehold - the land /property is owned for a fixed period of time


Lender - a company that provides the finance to satisfy a loan or mortgage request


Listed Building - property listed as being of architectural or historic interest, which cannot be altered without local government consent


Loan (Secured) - the equity of a property is a guarantee against not paying the loan back


Loan (Unsecured) - the financial position of the applicant is such that a guarantee for the loan is not required


Local Authority Search - an enquiry made by a buyer's solicitor to the local council regarding any issues or future development issues which may affect the property or immediate area


LTV - Loan to Value; a loan or a mortgage that is a percentage of the value of the property or the price being paid for the property





M


Maintenance Charge - the cost of repairing communal parts (external or/and internal) of a building


MCRI - Mortgage Coe Register of Intermediaries. This register is maintained by the Council of Mortgage Lenders and consists of the names of the mortgage brokers subscribed to the Mortgage Code


MGI - Mortage Guarantee Insurance. An insurance policy needed in case the amount owned on a mortgage and the value of the property do not match


MIG - Mortgage Indemnity Guarantee


MIRAS - Mortgage Interest Relief at Source. Government scheme providing tax relief on mortgage interest payments. Expired April 2000


Mortgagee - The organisation or person that lends you the money on a mortgage, usually a building society


Mortgage - a loan to purchase a property and the property is used as a security for paying the loan back


Mortgagor - the borrower who takes out the mortgage






N


Negative Equity - the shortfall between the value of the property and the amount owed on a mortgage






O


Offer - sum of money that the lender offers to pay for a property


Offer of Advance - known also as a mortgage offer. A document that the applicant must sign, detailing the terms and conditions of the mortgage loan


Office Copies - copies of the documents for property ownership and mortgage held by the Land Registry


OIRO - abbreviation of 'offers in the region of'


Ombudsman - independent professional bodies who investigate complaints on behalf of customers against (e.g. estate agents, solicitors, insurance companies)

ONO - abbreviation of 'or nearest offer'






P


Penalty - costs that may be incurred if the borrower repays the loan too early or switches between lenders


Planning permission - the permission granted by the local planning authority (usually the local council) for any new building or engineering operations or change of use of a building if it meets the public's interest


Preliminary enquiries - questions which the seller must answer before the exchange of contracts


Private sale - sale of a property without the use of an estate agent as intermediary


Processing - the administration and paperwork related to a loan from the time the application is received to completion of the whole process






Q


Quotation- statement of the current price of stock; borrowers are advised to 'shop around' different mortgage lenders and insurance companies before making a commitment






R


Rate (Capped) - The interest rate cannot rise or fall for an agreed period of time


Rate (Variable) - the interest rate may rise or fall


Redemption Penalties - should the borrower pay off a loan before the agreed termination date the lender may charge the borrower a fee. This applies to to Fixed, Discounted or Capped rate mortgages


Registered Land - land for which the ownership is registered at the Land Registry


Remortgage - the borrower takes out the loan to replace another loan secured on the same property


Repayment Mortgage - monthly interest combined with payment towards the capital sum borrowed


RTB - legislation that gives council tenants the Right to Buy their homes


Retention - holding back part of a mortgage loan until repairs to the property are satisfactorily completed






S


Scheme for Maximum Advances (SMA) - see Indemnity premium


Sealing Fee - a fee charged when the mortgage is paid off


Search - enquiries about the property, raised by a solicitor with the local authority


Second Charge - mortgage ranking behind a first mortgage


Second Mortgages - company or building society who have registered a mortgage behind that of the first mortgages


Service Charge - maintenance charge paid for communal building services


Sole Agency - the choice of a single estate agent to act on the seller's behalf, incurring a lower fee than a multi-agency sale


Solicitor - a lawyer who deals with the sale/purchase of land or property


Stamp Duty - a tax paid on property purchases; it applies if the property costs more than £119,999


Subject to Contract - words to indicate that an agreement is not yet legally binding


Survey (Structural Survey) - inspection of property for structural damage, carried out by a Structural engineer or Chartered Building Surveyors


Surveyor - person who conducts the survey






T


Tenancy - the right to live in a property, subject to agreement


Tenant - a person who pays rent to the landlord for the use of a room, house etc


Tenants in Common - tenants who own unequal shares of a property and are free to dispose of their share in any way they wish


Tenure - length of lease


Term - period of a loan or mortgage (months, years)


Title - the legal ownership of a property or land


Title Deeds - documents relevant to the previous and present ownership of a property


Total Amount Payable - the total cost of repaying a mortgage


Total Return - rental income plus capital growth


Transfer Deeds - the Land Registry document that transfers legal ownership from seller to buyer






U


Under offer - a term describing a situation in which the seller has accepted the buyer's


V


Vacant - unoccupied property


Valuation - an inspection of the property for mortgage purposes. Also the report that the lender requires from the surveyor


Variable Interest Rate - rate of interest payment that fluctuates over time with general interest rates


Vendor - the buyer of land/property


Viewing - appointment for potential purchaser/tenant to visit property


Void Ratio - the difference between what an investor expects to receive and what they actually receive (often caused by tenants not paying their rent)



W



Wood rot - a major cause of damage to timber floors, which should be discovered during the survey



X


Y


Yield - the percentage of the property's value achieved in rent


Z

Crispy herbed potatoes

(Only 6 ingredients)
Use a Pan or Wok
Preparation - 20 minutes plus standing
Cooking.... - 25 minutes

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Ingredients
(server 4)

750g / 1.75lb potatoes
2 red onions
6 tablespoons olive oil
100g / 4oz Gruyere cheese
-> (strong flavour and can be replaced with crumbled stilton or mature cheddar)
2 tablespoons chopped fresh basil)
salt and pepper to taste

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1) Peel the potatoes and slice very thinly with a mandolin or sharp knife. Place them in a bowl and cover with cold water. Allow to stand for about 10 minutes. Drain on kitchen paper.

2) Peel and slice onions. Heat the oil in a large frying pan over a medium heat. Add the onions and saute for 2 minutes. Add the potatoes and cook for 15 to 20 minutes, turning frequently, until they are tender and golden.

3) Grate the Gruyere cheese. Add the basil to the pan and stir in. Sprinkle the cheese over the top and cook for 2 minutes, without stirring, until the cheese melts. Season and serve.

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Cook's tips

If you want to slice your potatoes really thinly and save on preparation time, use a food processor fitted with a slicing blade.

To reduce tears whe peeling or slicing onions, chill them for 30 minutes first or cut off the top, but leave the root on. The root contains the largest amount of sulphuric compounds, which cause tears when the onion is cut. Remove the root prior to cooking or eating.

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Serving tip

Serve this versatile side dish with a tasty warming hotpot for a special winter treat or with cod fillets in the summer. Great as a side order to a BBQ too!

ONIONS - Did you know?

Onions have long been regarded as a cure for many ailments.

There is evidence that they reduce cholesterol and help to clear heavy colds.

SAD NEWS - Kylie Minogue - Breast Cancer

Kylie Minogue has been diagnosed with breast cancer. The pop princess' management released a statement last night confirming the news and announcing that the Australian leg of Kylie's Showgirl tour will now be postponed while she receives treatment.

"Whilst at home in Melbourne with her family this week prior to her Australian Showgirl tour, Kylie was diagnosed with early breast cancer.

She will undergo immediate treatment and consequently her Australian tour will not be able to proceed as planned," read the statement.

Kylie herself added: "I was so looking forward to bringing the Showgirl tour to Australian audiences, and am sorry to have to disappoint my fans. Nevertheless, hopefully all will work out fine and I'll be back with you all again soon."

Credit cards blamed for huge increase in bankrupt women

A huge rise in the number of women going bankrupt was blamed yesterday on a dangerous combination of large mortgages, heavy spending on credit cards and lower pay than their male colleagues.

The proportion of women who go bankrupt has jumped to more than 40 per cent over the last five years, according to the first piece of research into the subject by a firm of accountants. Official figures have never analysed the number of women affected.

Keith Stevens, an insolvency partner from the accountants Wilkins Kennedy, said that he helped female clients who had between 30 and 40 credit cards and debts of up to £100,000 despite earning just £25,000.

When he first started work in the insolvency industry in 1977 he rarely encountered a woman with financial problems.

Mr Stevens said: "The root of the problem is that women have seen the rapid growth in their financial independence outstrip the rise in their incomes. The gap between incomes is narrowing but women are taking on more financial risk and may need to moderate their spending in the short term."

At the beginning of the 1980s less than 10 per cent of women had a mortgage, a figure that has more than doubled to almost 25 per cent today, just one example of the extra financial burden put on women. The average mortgage taken out has now reached £90,000.

Mr Stevens also blamed the credit card culture for much of the problem, particularly the common practice of transferring debt from an existing card to a new one offering zero per cent interest rates. "Rather than adjusting their standard of living, the people who do this often continue to live beyond their means and run up fresh credit card bills," said Mr Stevens.

He added that women were often less able than men to make the necessary changes to their lifestyle.

Also, women tend to have built up a much smaller pot of savings than men, according to the latest official figures from National Savings & Investments.

The pay gap between women and men also remains significant, with women typically earning almost 20 per cent below a man in the same position.

Overall, the number of bankruptcies has soared over the past year. Between January and March last year, there were 8,103 individual bankruptcies, compared with 10,091 in the same period this year.

Wilkins Kennedy conducted its research by making a random selection of 800 bankrupts in England and Wales, and calculating the percentage of women, which jumped from 32 per cent to 42 per cent.

Advice on Organising an Event

Organising an event can involve more planning than you first thought! You want everyone to enjoy the event, however you also need to consider your neighbours who may not be so keen to join in with your celebration (invite them along anyway, because if they are helping to make the noise they won't be complaining about it).

Food Safety

• It's best practice to pre-cook the meats for the event on the same day, which can then be reheated on a barbeque rather than cooked from raw.
  
• Try to match supply and demand rather than over produce food.
  
• Do not reheat foods more than once.
  
• Food made in advance should not be stored for more than 24 hours if chilled, or 4 hours for other foods.
  
• Defrost frozen food thoroughly unless it is to be cooked and the packaging states that food can be cooked from frozen.
  
• Make sure that you have sufficient cold storage for the foods that you are preparing.
  
• Only have sufficient food out for immediate use and regularly replenish stocks from your cool boxes.
  
• Always clean surfaces in between the preparation of raw and cooked foods.
  
• Keep raw foods separate from cooked / prepared foods. (If storing both in same fridge then place cooked above raw and in sealed containers.)
  
• Avoid using raw egg preparations, e.g., mayonnaise and certain cakes/ puddings.
  
• Keep working areas clean and maintain good standards of hygiene.
  

Fireworks Safety

Fireworks used in a restricted area, whilst not requiring a licence, can be dangerous. The following advice will help minimise the risks involved: -

• Designate one person responsible for the lighting of the fireworks.
  
• Organise the display area so that people do not have to cross through it and keep everyone else away during the display. This applies equally to any bonfires / beacons.
  
• If the bonfire / beacon is large it must be properly constructed so that it is stable. It would be a good idea to advise your local Fire and Rescue Service of your intentions. If you are not experienced in the construction of bonfires you should not attempt to build anything that is above head height.
  
• Keep fireworks in a sealed container.
  
• Have as few fireworks deployed as possible.
  
• Check weather conditions especially wind strength and direction.
  
• Work out where rockets, etc., will land. Make sure that they will not damage property.
  
• Make sure that you have ready access (Mobile phone) to the emergency services.
  
• It may be good to identify if someone has basic first aid training just in case the emergency services are delayed.
  
• Remember to keep pets indoors
  

Noise polution

• Remember the neighbours and if music is getting loud turn it down to prevent causing problems to others.
  
• Have a quick walk around the area every hour or so just to check things out.
  
• Don’t inflict on others what you would not like to experience yourself.
  
• Try and reduce noise further at times when people may be sleeping - Not everyone may have the next day off work!
  
• If you think there will be noise at your event that may bother nearby residents why not invite them to join in!
  

Public Entertainment Licensing

You will need to apply for a licence if: -

• Music or dancing is provided within premises (including marquees); or
  
• Music is provided in the open air on private land and is the main reason for persons attending the event; and
  
• In either cases above, entry and/or purchase of tickets is not restricted by invitation.
  

You will not need to apply for a licence if: -

• The entertainment does not include music or dancing;
  
• Music and dancing takes place in the open air on public land (an adopted highway would be 'public land');
  
• Music takes place on private land, but is not the main reason for persons attending the event;
  
• Entry is restricted to invitation only.
  

Additional Advice & Information

Safety - Miscellaneous

• Don’t give an open invitation to burglars, keep doors and windows of your house locked whilst out.
  
• Discourage the use of drinks that can be drunk straight from the bottle, i.e., Alco pops.
  
• Try to eliminate all other glass if possible by using safer alternatives such as plastic or paper.
  
• Always ensure clear access for emergency services, i.e., fire and ambulance.
  
• Obtain adequate public liability insurance.
  
• Temporary electrical installation and/or structures should be checked and approved by suitably competent persons.
  

Other Considerations

• Correct supervision of children and teenagers is important. Don’t allow under 18 year olds to drink alcohol.
  
• The sale of alcohol requires a licence issued by the Magistrates.
  

Facts about Breast Cancer

1. Fibrocystic breast disease is a general term for any benign (harmless) process and does not increase the risk for breast cancer.

2. 80% of women who develop breast cancer have no family breast cancer history. However, women with a family history of breast cancer are at increased risk.

3. Mammography is a very important tool for detecting early forms of breast cancer. It is not 100% accurate and must be interpreteted in conjunction with a clinical exam by a physician. Any woman who has a breast "lump" needs to have it checked out by a physician even if the mammogram is normal.

4. Generally, the older you are, the higher your risk of breast cancer. The highest incidence is between 55 and 75. After that time, your risk decreases.

5. Most breast cancers are present for eight to ten years prior to the time you or your doctor will feel a "lump." For this reason, it is important to follow your physician's recommendations for mammogram, self-exam and physician examination.

6. Mastectomy is one surgical treatment for breast cancer. It is no guarantee, however, that the cancer will not reoccur. Eight to ten percent of women will have a recuurance in the area after surgery. Studies have shown than lumpectomy and radiation may be as effectiveas mastectomy in preventing the return of the cancer. Discuss options with your physician.

7. Most breast cancers, when detected early, can be cured with standard treatments. About 80% of breast lumps are detected by women themselves.

8. Men can also get breast cancer, although it is considerably less common, around 1 or 2%. There are about 500 cases of breast cancer in men every year.

9. Breast self-exams, physician exams and mammograms help to detect problems early so that they can have the best outcomes.

10. Eat a healthy diet, exercise regularly, avoid smoking and other toxins to reduce your risk of breast cancer.

11. There are more than 40,000 new diagnoses of breast cancer in the UK each year.

12. Breast cancer develops from the cells that line the breast, lobules and the draining ducts. Cancer cells that remain confined to the lobule and the ducts are called 'in situ' or 'non-invasive'. They are sometimes also referred to as pre-cancers in recognition of the fact that these cells have not yet gained the ability to spread to other parts of the body, which is the feature that most people associate with cancer. An invasive cancer is one where the cells have moved outside the ducts and lobules into the surrounding breast tissue.

Famous Fact-files :: Gwen Stefani (Singer - Lead for 'No Doubt')

• Date of Birth - October 3rd, 1969
• Born - St. Jude's Hospital in Fullerton, California
• Nationality - American
• Full name - Gwen Renee Stefani Rossdale
• Spouse - Gavin McGregor Rossdale (Actor - Appeared in 2005, Constantine & 2001, Zoolander)
  
  
  
• Family - Two brothers Eric and Todd, and Sister Jill
• Height - 5'6" (1.68 m)
• Nicknames - G-Loc, Sunshine, G, Daria Blue (Alias she used to check into hotels with)
• Claim To Fame - Lead singer for band No Doubt and designer for clothing and accessories line L.A.M.B. (Lamb)

One of the most attractive women singing in the charts today. Gwen recently released an amazing solo album called Love. Angel. Music. Baby and is a great album.

Collaberations on this album included artists like Dr Dre, The Neptunes, Andre 3000, Linda Perry, Bernard Sumner and Peter Hook of New Order, Nellee Hooper, Dallas Austin, Wendy & Lisa, Tony Kanal, Jimmy Jam and Terry Lewis.

Interestingly if you take the first letter of each word in the album title 'L'ove, 'A'ngel, 'M'usic, 'B'aby you get L.A.M.B. which is the name of Gwen's fashion range.

Harajuku Lovers is the new design project from Gwen Stefani. This stylish and accessible line of fashion and accessories debuts this Summer 2005.

Gwen Stefani photo gallery

Gwen Stefani Solo Albums

• Love. Angel. Music. Baby. (2004)
  

Gwen Stefani - Singles

• What You Waiting For? (2005)
  
  

Gwen Stefani Websites

• Gwen Stefani Fan site (Gwenfan.com)
• Gwen Stefani Official website

Cheshire Tapas Restaurant - "PZAZ" Mediterranean Kitchen

I've just eaten in a really cool restaurant in a village called Bramhall, neat Poynton, Cheshire.

The lighting and colouring is great and in warm reds and bourgandy colours. The music was a funky, jazzy blend.

The menu was simple and impressive. The prices seemed reasonable too.
Pzaz boasts a varied menu with something to suit every palette. I opted for a Meat Feast Pizza which was topped with some great meats. Chicken, Beef, Parma Ham. The pizza cost me £8.25

I also got myself their famous homemade chips and a coke cola for £2 each.

Their website is currently not available, but it is http://www.pzazkitchen.com

Other people who have visited this restaurant are Rudd Van Nistelroy from Manchester United and Badly Drawn Boy.

Contact Sean @
Pzaz Mediterranean Kitchen
2/4 Ack Lane East
Bramhall, Stockport, Cheshire
SK7 2BY
Tel.0161 440 9222
Fax.0161 439 0002
haley@pzazkitchen.com


I rate the meal and value for money at 8 out of 10.
Thanks Sean and staff.

Network Your Business Online

Networking is when two or more different businesses stay in contact on a regular basis to build and improve each others business. There are many ways to network your business online. Participate in online business related discussion boards , e-mail discussion groups, newsgroups and chat rooms. You can communicate with other business people via e-mail, video conferencing and by using instant messaging programs. Join online business associations and clubs.

You'll gain many benefits from networking online. You'll learn business information that you didn't know before. You can get advice on how to solve a current business problem. It can lead to new business projects. Negotiate joint ventures and cross promotion deals. Learn important skills that you didn't have before. Get constructive criticism that can improve your business. Brainstorm with others to come up with new business and marketing ideas.

Before you go out and communicate with other business professionals there are a few things you should know ahead of time. Know what kind of business information you are seeking. Figure out which professionals could give you this information. Know what questions you want to ask them.

One source for contacts that I use is called RYZE. Have a look at my page and join for free at: http://www.ryze.com/go/netarcher

How To Cut The Cost Of Living

How much money do you think you are likely to spend over the course of your lifetime?

Recent research by The Prudential has shown this to be, on average, £1,537,280! No wonder most of us feel that our earnings seem to slip straight through our fingers!

Average spending statistics were taken from the Office for National Statistics Household Spending Survey and a separate survey of more than 2,000 adults. Prudential then multiplied the average spending statistics by life expectancy to come to this 'Cost of Living' figure.

So where is all of this money going?

This figure has been broken down into eight main areas (see below). The two biggest being 'Housing, Food & Clothing' and 'Taxes', swallowing nearly £840,000 straight away.

There are ways that we can slash these costs and hang onto some more of our hard earned cash! If you'd like to cut your cost of living, follow these simple tips:


Housing, Food and Clothing: £552,772

Unsurprisingly, these basic essentials account for the biggest share of our lifetime expenses – We all need a roof over our heads and food to eat.

Homeowners, however, can save a fortune by [re-mortgaging], especially if your current mortgage deal is coming to an end or you're currently paying your lender's Standard Variable Rate (around 6.75%).

Every 1% you can save by re-mortgaging can save you £1,000 each year (for a £100,000 mortgage); this means you could be around £83 each month better off straight away!

[Overpaying] your mortgage will save you thousands of pounds in interest and reduce the length of your mortgage too. Just £50 extra each month on a £100,000 mortgage will save you over £15,000 and mean you pay off your mortgage in a little over 21 years rather than 25!

And we can all be careful when shopping, either for food or clothing. Take advantage of those [loyalty cards] (don't let them take advantage of you) and think carefully before buying those 'bargain boots in the sale'. Try to get better value for money by buying clothes using the 'price per wear' theory- if you'll wear a £100 skirt 100x, it costs £1 per wear - cheaper than a £20 skirt that's worn twice (£10 per wear).


Taxes: £286,311

This is where a good proportion of our income goes, but one thing we can make sure of is that we are paying the right amount of tax.

Check your tax code, and use this Payslip Checker to ensure you are paying the right amount of tax and National Insurance. Stamp Duty is now only payable for properties over £120,000.


Leisure and Luxuries: £236,312

Holidays, eating out, sports and hobbies use up another tidy sum, but money can even be saved on the fun things.

Don't just head to the High Street when booking that vacation; why not check out internet holiday companies for bargain breaks and car hire?

Using a [zero percent credit card] to pay for your holiday can effectively give you an interest free loan for up to twelve months and find a great travel insurance policies online too.

You can pay less for your travel money by carefully shopping around, and avoid rip-off 'loading fees' on your plastic by choosing your cheapest credit card to use abroad.


Travel Expenses: £137,126

How many of us run two cars when we could probably get away with one?

You may be surprised to learn that car hire or using a [Car Club] coupled with public transport could save you a small fortune each year – not to mention saving you the hassle of owning and maintaining a car! Not only that but you may be encouraged to walk or cycle more – so you'll be fitter and kinder to the environment too.

Car owners can save a fortune by following our [Tremendous tips for motorists].


Utility Bills: £101,760

Those gas and electricity bills keep on creeping up, don't they! But you can save up to £170 each year by changing suppliers – many companies make switching easy! They can even help you to save money on your phone bills too!

Switching to a metered water system can save smaller households a fortune too.


Legal Fees, Insurance and Financial Costs: £91,395

There's not much we can do generally to cut essential legal fee expenses – apart from marry a solicitor of course! The Citizens Advice Bureau (or even your credit card provider) can be worth trying if you need legal advice. But we can attack our insurance costs – and I don't mean by simply not having any.
Adequate cover is essential – especially if you have dependents, and it can be surprisingly cheap.


Investments: £91,124

One good thing to come out of the report was that we are investing! But a very worrying point has also been raised – the period in which we spend the most is when we earn the least – namely retirement.

And unfortunately there is a gender gap with men saving around £124,000 into investments and pensions compared to a paltry £59,000 for women. What's going on, ladies?

We all need to be saving for our retirement – and the sooner we start, the better – after all, remember the miracle of [compounding]! As a rule of thumb you should aim to put away around half your age as percentage of your salary (assuming you haven't already got any savings put away). So if you're 30, you should be saving 15% of your salary for retirement.

A pension is the most obvious way to do this – and if your employer contributes to yours – don't miss out! That's essentially [free money from your boss]! Why not increase your contribution today – it'll sting at first but you'll soon forget you ever had it – and if you've just had a pay rise you may not even notice.

Other methods include investments and by using a cheaper online broker you can reduce your investing costs greatly. But for those who aren't keen on buying and selling shares, why not set up a monthly payment into a cheap index tracker ISA?

You can save from as little as £25 a month and be exposing your cash to the stock market in an easy, low maintenance way.


Education and Children: £40,650

Finally, education and children cost the average adult over £40,000 over their lifetime.

So there are ways that we can help to reduce our day-to-day expenses. Take a little time to follow these tips and slash yours – and hopefully look forward to a better retirement too!

Are You Really A 21st Century Investor?

Real Estate Investors that educate themselves about CURRENT MARKET TRENDS will reap huge returns NOW!!! Information concerning NEW TRENDS in financial resources will open new and more profitable real estate opportunities for your business.

Today's residential real estate market for investors has become very competitive in most major markets. The vast majority of real estate investing seminars and clubs are encouraging you to search out desperate home owners or distressed properties to be rehabbed.

Not to mention the fact that today's disillusioned stock investors have now realized that residential real estate investing offers better returns, with less capital risks. As you seek to identify your lucrative real estate opportunities, have you noticed that the good deals are getting harder to find? I am not here to discourage you from investing in real estate, but would like to share real estate investment opportunities and information with you…..opportunities that only a few people are aware of and regularly participate in. That's right; I am referring to a niche investment market that has VERY LITTLE competition. This unique information is currently setting new trends within the commercial real estate investment community!

I know you are ready for me to tell you about this quiet niche investment market, so I will...... it is….……Commercial Real Estate. There are HUNDREDS, maybe THOUSANDS of niche market investment opportunities within Commercial Real Estate. And by the way........ the main reason why so few investors go after commercial real estate, and that might include yourself, is that you're not convinced that you would qualify for commercial financing ! ! Most investors are lead to believe that a 20% down payment is required to start the process for purchasing commercial properties. WELL, THIS IS NOT TRUE!

Let's do the math now…… financing a property that cost $5 Million dollars with 20% down would require you to put down $1,000,000 and you would still have to add in legal fees and closing costs. Yes, I know that only a few investors or even investment groups are able to meet these down payment requirements. Your first mistake as an investor would be to go to your local bank to seek financing, or worse, go to private or hard money lenders. First, remember the banks are regulated by the federal government and they are required to underwrite conforming loans and second, bank loans tend to be very structured and are generally inflexible to your project needs. In most cases, THESE LOANS will require a 20% DOWN PAYMENT OR MORE! The only benefit of using private or hard money lenders is when" NO OTHER FINANCING OPTIONS EXIST FOR YOU!"

FINANCING is the key ingredient to identifying lucrative real estate investment opportunities, yet, so few people truly understand the power of knowing WHERE to find the right financing and HOW to get it! WHAT IF you had several lenders, today, that would only require you have 2 to 3% down payments (on certain qualified projects)… WOULD THIS BE OF INTEREST TO YOU? A $5,000,000 loan with 2- 3% down payment equates to putting down $100,000 to $150,000.

As an individual investor, this down payment would still be pretty steep for you however, today, many residential investors are already joining and forming Investment clubs to increase and enhance their purchasing power. TO ALL residential real estate investors....... the REAL MESSAGE here is that you are closer to buying commercial real estate than you think! This example should make it clear to you that finding the right financing is the FIRST step and the key ingredient to your real estate investing…….. however, there is a PROBLEM.

The problem is that as an investor, you have been trained to shop for properties FIRST, and almost never for financing. Finding the right financing FIRST will save you and make you more money over time, than you purchasing the undervalued properties and selling them later at or above market prices. I will repeat this….. MOST REAL ESTATE INVESTORS DO NOT UNDERSTAND THE IMPORTANCE OF FINANCING within the investment equation. The ability to save on the amount of the interest rate you are being charged…. month after month….. year after year… 2 or 3 % or more is huge. You may also find out what I already know….. . by securing the financing first…..THIS OPENS UP NEW INVESTMENT OPPORTUNITIES!

Let's review some of the BENEFITS that come with purchasing Commercial Real Estate:

Unlike residential real estate, commercial real estate's only purpose is to make money for its investors. If there was a 7% cap rate on the $5,000,000 sample property, it would cash flow $350,000 annually.

Do you think you would enjoy having professional tenants with long term leases?

Would it excite you if your investment projects qualify for Non recourse financing?

You can totally eliminate the process of rehabbing properties.

How about this…… YOU no longer have to chase tenants down to collect rent.

You no longer have to pay penalties to lenders for not being in owner occupied properties.

Expand your investment search throughout all 50 states.

Last and probably the MOST BENEFICIAL of all of the perks….You can qualify to purchase these properties using your commercial tenant's credit rating, business cash flow and their long-term rental leases! In an era where information rules, the small to medium sized real estate investor can NOW be a "Front Runner" AND a major player within the commercial real estate market!, says Steven Battle

How to prepare for an interview but not give yourself away

If you don't want your current employer to get wind of the fact that you want to move on, you mustn't give yourself away. Careful preparation is the key to a successful interview. Preparation avoids being taken by surprise and prevents giving away information that would have been better to keep to yourself. Sarah Berry has a few important interview preparation tips for you.

Listed below are our top five tips

No amount of preparation will guarantee that you get the job but it will ensure that your performance is your best one. Let's take a closer look at what you need to be focusing on:

1. Don't give yourself away

It is vital that you don't give yourself away while you are job-hunting. If your employer does suspect that you are planning a move, he/she may entice you to stay by offering you more money or more perks. Will more money or more perks defuse your basic feelings of discontent? Will you be looking to move again once you have got used to your higher salary? It is always best not to involve your current employer in your job hunt, so how do you avoid giving away clues?

• Don't come to work dressed better than normal. Otherwise people will be asking themselves, 'Why does he/she suddenly look so good?'
  
• Don't take time from the company. Longer lunch hours, being absent for no reason and answering an increased number of personal phone calls in your working day all indicate that you don't feel the same way about your current employer. You still have to give your company an honest day's work if you are job-hunting.
  
• Don't change your behavioural pattern. Maintain your normal style of behaviour and communication. Going quiet or avoiding people will 'tip off' people that you are planning something. · Don't have an interview in company time. Is it right to have a job interview while you are being paid by another company?
  
• Don't clear your desk. Avoid removing your personal belongings from your desk. It is the most obvious tell-tale sign that you are hoping to move on soon.
  

2. Be confident with how you look

First impressions count. Employers decide within five minutes of interviewing you whether they want to employ you, so the way you look is important to your job hunt. Fewer than 5% of personnel managers consider physical attractiveness very important but 75% of personnel managers will bypass a substantially overweight person in favour of a thinner one. Since employers are influenced by the way candidates look, what should you wear?

• Spend as much as you can on quality clothing.
  
• Go easy on the jewellery. Female candidates should keep it simple and men should avoid jewellery that it not functional.
  
• Buy the best shoes you can afford - your shoes say a lot about you.
  
• Be aware of tailoring. No clothes will look really good on you unless they fit you properly. The presence you are able to generate when you meet people is important but so too is that smile of yours.
  

3. Be polite

It is unbelievable but most job hunters don't even bother to write to advise the employer that they will be attending the interview on the set date and time. Writing an acceptance letter is necessary and it is common courtesy. It demonstrates that you value the employer and that you want the interviewer to be as prepared for the interview as you will be. Write your acceptance letter because if you don't it could be a black mark against you before you even get to the interview.

4. Fix a salary figure in your mind

It is all about confidence when it comes to talking about your salary. It will help your case if you have an exact salary figure in your mind of what you wish to earn. As a general rule, salary is determined by:

• What the company is accustomed to paying.
  
• What your current salary is.
  
• Your level of experience and expertise.
  

If it doesn't look as if you are going to be offered the salary figure you would like, you may have to negotiate with the employer. Successful negotiation is all about you achieving a win-win situation and not about one party being forced into submission or withdrawal. You will therefore need to consider your own needs but also to take into account the employer's needs and constraints. Decide who holds the power. Is it you or the employer? The balance of power will determine how high or low you pitch your opening bid.

In addition, you need to decide what your walk-away position is. A walk-away position is the point at which the negotiation breaks down. This will be different for each individual and it will depend upon his/her personal finances. For example, if a person is threatened with redundancy or is already unemployment, the walk-away position may be different from that of someone who is already securely employed.

Put your case forward in a firm and friendly approach. Adopt a businesslike manner and choose your wording carefully.

5. Inspire Confidence in your abilities

Get in the habit of inspiring confidence in others. To do this you need to do be able to confirm three things in the interview, namely:

• That you have the ability to do the job.
  
• That you want the job.
  
• And that you will fit in the organisation - its style, management and philosophies.
  

You need to address the employer's concerns about yourself and then design your answers to assure him/her of your abilities. Although it may seem unnatural to answer the interviewer's questions in this way, it is necessary to do this in order to address the employer's concerns about you. Your answers need to convince the interviewer that you really are the best and right person for the job on offer.

Charity Wristbands (also known as "Awareness bands")

These wristbands are very important in our current climate. Many people are putting their hands in their pockets to buy one of these, partly because is is currently fashionable, but more imprtantly because large sums of money are being raise for charity. Wear your heart on your sleeve!

These charity wristbands come in many colours and with different messages on them including:

• AQUA - "KEEPING CHILDREN SAFE"
• GREY - "LIFE CHANGING"
• LIGHT BLUE - "END BULLYING"
• RED - "HOPE FOR THE HOMELESS"
• LIME GREEN - "CARE 2 WEAR"
• ORANGE - "HUMAN RIGHTS"
• PURPLE - "SAVE STREET CHILDREN"
• GREEN - "SAVE SPECIES WORLDWIDE"
• WHITE - "END POVERTY"
• YELLOW - "LIVESTRONG (Youth)"
• BLACK - "TSUNAMI RELIEF EFFORT"
• PINK - "RESEARCHING THE CURE"
• GOLD - "CHILDHOOD CANCER"
• MAGENTA - "FIGHT DIABETIS"
  

Chrity wristbands will cost you in the range of £2.00 each. Be careful who or where you buy you wristband though as there are some opportunist sellers who have set up stalls and stands on hist street markets and corners, who are not genuine sellers and are not passing on the profits to the charities involved.

More than 23 million of these charity bands have been sold worldwide as people show solidarity with the six-time Tour de France winner, who beat testicular cancer. The "Live strong" bands from the Lance Armstrong Foundation, have become a must-have fashion accessory and started a craze for other coloured charity bracelets.

Good places to get you wristband are places like:

• Toyshops
• Charity shops
• Sport shops
• Everton Football Club - on behalf of Downs Syndrome Support Group
  

Many famous people can be seen wearing them including:

• Wayne Rooney
• Rio Ferdinand - Blue (stop bullying)
• Wright-Phillips - Blue (stop bullying)
• David Beckham - Blue
• Bono - White
• Tony Blair - Pink
• Davina McCall - White
• Rachel Stevens - White
• Bob Geldof - White
• Brad Pitt