Saturday, January 26, 2008

Top Financial Advice

1. Get Paid What You're Worth and Spend Less Than You Earn

It sounds simplistic, but many people struggle with this first basic rule. Make sure you know what your job is worth in the marketplace, by conducting an evaluation of your skills, productivity, job tasks, contribution to the company, and the going rate, both inside and outside the company, for what you do. Being underpaid even a thousand dollars a year can have a significant cumulative effect over the course of your working life.

No matter how much or how little you're paid, you'll never get ahead if you spend more than you earn. Often it's easier to spend less than it is to earn more, and a little cost-cutting effort in a number of areas can result in big savings. It doesn't always have to involve making big sacrifices.

Related Resources:

How to Get a Pay Raise
101 Ways to Save Money Series
Choosing the Best Mortgage
Save Money On Long Distance Calls
Save Money on Your Next Car

2. Stick to a Budget

One of my favorite subjects: budgeting. It's not a four-letter word. How can you know where your money is going if you don't budget? How can you set spending and saving goals if you don't know where your money is going? You need a budget whether you make thousands or hundreds of thousands of dollars a year.

Related Resources:

Budgeting 101: A Collection of Budgeting Articles

3. Pay Off Credit Card Debt

Credit card debt is the number one obstacle to getting ahead financially. Those little pieces of plastic are so easy to use, and it's so easy to forget that it's real money we're dealing with when we whip them out to pay for a purchase, large or small. Despite our good resolves to pay the balance off quickly, the reality is that we often don't, and end up paying far more for things than we would have paid if we had used cash.

Related Resources:

The High Cost of Using Credit Cards

4. Contribute to a Retirement Plan

If your employer has a 401(k) plan and you don't contribute to it, you're walking away from one of the best deals out there. Ask your employer if they have a 401(k) plan (or similar plan), and sign up today. If you're already contributing, try to increase your contribution. If your employer doesn't offer a retirement plan, consider an IRA.

Related Resources

Think Retirement!

5. Have a Savings Plan

You've heard it before: Pay yourself first! If you wait until you've met all your other financial obligations before seeing what's left over for saving, chances are you'll never have a healthy savings account or investments. Resolve to set aside a minimum of 5% to 10% of your salary for savings BEFORE you start paying your bills. Better yet, have money automatically deducted from your paycheck and deposited into a separate account.

6. Invest!

If you're contributing to a retirement plan and a savings account and you can still manage to put some money into other investments, all the better.

Related Resources:

Get Started in Investing

7. Maximize Your Employment Benefits

Employment benefits like a 401(k) plan, flexible spending accounts, medical and dental insurance, etc., are worth big bucks. Make sure you're maximizing yours and taking advantage of the ones that can save you money by reducing taxes or out-of-pocket expenses.

Related Resources:

Flexible Spending Accounts

8. Review Your Insurance Coverages

Too many people are talked into paying too much for life and disability insurance, whether it's by adding these coverages to car loans, buying whole-life insurance policies when term-life makes more sense, or buying life insurance when you have no dependents. On the other hand, it's important that you have enough insurance to protect your dependents and your income in the case of death or disability.

Related Resources:

Insuring Your Life
Health Insurance Choices

9. Update Your Will

70% of Americans don't have a will. If you have dependents, no matter how little or how much you own, you need a will. If your situation isn't too complicated you can even do your own with software like WillMaker from Nolo Press. Protect your loved ones. Write a will.

Related Resources:

Where There's a Will...

10. Keep Good Records

If you don't keep good records, you're probably not claiming all your allowable income tax deductions and credits. Set up a system now and use it all year. It's much easier than scrambling to find everything at tax time, only to miss items that might have saved you money.

Related Resources:

Tax Record Keeping

Reality Check

How are you doing on the top ten list? If you're not doing at least six of the ten, resolve to make improvements. Choose one area at a time and set a goal for incorporating all ten into your lifestyle.

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Saturday, January 19, 2008

Refinance

Refinancing refers to the replacement of an existing debt obligation with a debt obligation bearing different terms. The most common consumer refinancing is for a home mortgage.

Advantages

Refinancing may be undertaken to reduce interest costs (by refinancing at a lower rate), to extend the repayment time, to pay off other debts, to reduce one's periodic payment obligations (sometimes by taking a longer-term loan), to reduce or alter risk (such as by refinancing from a variable-rate to a fixed-rate loan), and/or to raise cash for investment, consumption, or the payment of a dividend.

In essence, refinancing can alter the monthly payments owed on the loan either by changing the loan's interest rate, or by altering the term to maturity of the loan. More favourable lending conditions may reduce overall borrowing costs.

Another use of refinancing is to reduce the risk associated with an existing loan. Interest rates on adjustable-rate loans and mortgages shift up and down based on the movements of the various indicies used to calculate them. By refinancing an adjustable-rate mortgage into a fixed-rate one, the risk of interest rates increasing dramatically is removed, thus ensuring a steady interest rate over time. This flexibility comes at a price as lenders typically charge a risk premium for fixed rate loans.

In the context of personal (as opposed to corporate) finance, refinancing a loan or a series of debts can assist in paying off high-interest debt such as credit cardUnited States, there may be certain tax advantages available with refinancing, particularly if one does not pay Alternative Minimum Tax.

Risks

Most fixed-term debt contains penalty clauses (known as "call provisions") that are triggered by an early payment of the loan, either in its entirety or a specified portion. In addition, there are also closing and transaction fees typically associated with refinancing debt. In some cases, these fees may outweigh any savings generated through refinancing the loan itself. Typically, one only rationally considers refinancing if the potential for a substantial cost savings exists, or if there is a need to extend the loan due to weak cash flow or other non-recurring committments.

In addition some refinanced loans, while having lower initial payments, may result in larger total interest costs over the life of the loan, or expose the borrower to greater risks than the existing loan, depending on the type of loan used to refinance the existing debt. Calculating the up-front, ongoing, and potentially variable costs of refinancing is an important part of the decision on whether or not to refinance.

Points

Main article: Point (mortgage)

Refinancing lenders often require an upfront payment of a certain percentage of the total loan amount as part of the process of refinancing debt. Typically, this amount is expressed in "points" (also sometimes called "premiums"), with each "point" being equivalent to 1% of the total loan amount. Therefore, if the refinance option selected involves paying three points, then the borrower will need to pay 3% of the total loan amount upfront. Most refinancing lenders offer a variety of combinations of points and interest rates. Paying more points typically allows one to get a lower interest rate than one would be capable of getting if one paid fewer or no points. Alternately, some lenders will offer to finance parts of the loan themselves, thus generating so-called "negative points" (also called discounts).

The decision of whether or not to pay points, and how many points to pay, should be taken in consideration of the fact that with points, one tends to trade a higher upfront cost in exchange for a lower monthly premium later on. Points can be paid out of the cash saved by refinancing the loan in the first place.

Types

No-Closing Cost

Borrowers with this type of refinancing typically pay few upfront fees to get the new mortgage loan.[citation needed] In fact as long as the prevailing market rate is lower than your existing rate by 1.5 percentage point or more, it is financially beneficial to refinance because there is little or no cost in doing so.[citation needed]

Cash-Out

This type of refinance may not help lower the monthly payment or shorter mortgage periods. It can be used for home improvement, credit card and other debt consolidation if the borrower qualifies with their current home equity; they can refinance with a loan amount larger than their current mortgage and keep the cash difference.

References

External links


Refinancing in Sri Lanka

Lender House

What We Do - business refinancing, business loan refinancing, and acquisitions

Lender House is an online loan and financing company owned by Premiere Lender.

Premiere Lender is an online loan company focused on matching borrowers with potential lenders in the field of business loans, business financing, corporate lines of credit and acquisition financing. We were founded by an established investment banking firm, in business since 1980.

Premiere Lender receives more than $1 Billion in business loans and acquisition financing requests monthly.

Types of Business Loans:

FINANCING TYPE
Asset - based facilities on a fully secured basis and Cash flow based business credit facilities

TRANSACTION TYPES
Refinancing and restructuring of business loans and corporate loans, Management and Leveraged Buyouts, Recapitalizations, Merger Financing, Business Acquisition Financing, New Business Lines of Credit

COLLATERAL TYPES
Accounts Receivable, Inventory, Machinery & Equipment, Real Estate, and / or Stock and Bonds

INDUSTRY TYPES
All types of Manufacturing, Wholesale, Distribution, and Service companies - Public and Private

SALES VOLUMES
Companies with Annual Sales of $2 million - $100 million and more

BORROWING NEEDS
Secured Lines of Credit from $1 million to $25 million and more

FINANCIAL PARAMETERS
Companies that are highly leveraged, have or had financial losses, low or negative net worth (equity), and / or with poor historical performance. Also companies experiencing a leveraged buyout, management buyout, acquisition, recapitalization, restructuring, or turnaround situation, debtor-in-possession, sub-prime and non-prime business loans, or companies in a growing mode where sales and asset growth are ahead of working capital needs.

If you are a prospective client that fits within these financing requirements, please use our Contact Us secure form for a rapid confidential response.

More Info : http://discountingloans.com/refinancing.htm

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Overseas Links

http://www.abacapital.com/

http://www.refinancingright.com/

http://www.energyservices.lk/pdf/TheProject/RERED_Oper_Gdlines_11May06.pdf

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Home Loan

Sri Lanka

Commercial Bank

NIVAHAN

A Housing Loan with Terms in Your Favour

Obtaining a housing loan shouldn't drive you up the wall. Frustrating delays and mountain-high documents shouldn't hamper your progress. Welcome to Commercial Bank's NIVAHANA, a housing loan designed to facilitate your future.

For what purposes can I obtain a Nivahana Loan?

Purchase or construction of a house

Purchase of a condominium apartment in urban areas

Purchase a land and construct a house

Renovate, extend, complete a house

How Do I Qualify for a Nivahana Loan ?

You should have regular monthly income, individually or jointly with spouse. This income should be sufficient to meet the monthly loan commitment plus living and other expenses.

How Can I Borrow ?

Depending on your need and the income you can borrow between Rs. 750,000/- and Rs. 5 million. Even if your need exceeds Rs. 5 million, you can still negotiate with your Branch Manager for a higher amount.

What is the Interest rate ?

Our interest rates are very attractive and highly competitive. What's more, we give you a choice Fixed or Floating. NIVAHANA is so flexible.

What About Repayment ?

A repayment period of up to 20 years can be given depending on your age. Also you can select from 2 modes of payment:

What are the Advantages of Nivahana when Compared with Similar Loans ?

Minimum documentation

Flexible approach and fast approval

Longer repayment period

Fixed or Floating rate of interest

Attractive and competitive interest rates

Convenience of our island wide branch network

More Info : http://www.combank.net/newweb/html/pb_nivahana.asp

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Nation’s Trust Bank


Purpose
  • To purchase a house
  • To purchase land and construct a house
  • Renovate, complete & extend a house
  • Purchase an apartment
  • Repay a loan obtained from a recognized financial institution
  • Convert part of a house for commercial use

Product features

Amount
• Minimum LKR 300,000/-
• Maximum LKR 30 million

  • Interest rates
    • Floating Rate reviewed annually
    • Fixed rate
  • Disbursement
    • Purchasing land/house - one installment.
    • Construct the house - in stages
    • To renovate the existing house – in one installment or in stages.
  • Special benefits
    • Grace period of 12 months (for construction only) during which only interest is repaid.
    • Personal Loans to furnish the house are available

Repayment

  • Maximum repayment period of 30 years
  • Equated monthly installments

Calculate On Line : http://www.nationstrust.com/calculators.asp?LoanID=1

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NSB (National Savings Bank)


Minindu Sevana

National Serving bank which has always been your friend in need,now offers you housing loan facilities with a host of special concessions to enable you to make your dream home come true.

For what purposes are loans granted?

  • To construct or purchase a house of your own.
  • To purchase a block of land to build a house.
  • To complete construction of a new house or for extensions/repairs to an existing house.

Who can obtain housing loans ?

  • Person who are permanently employed and in receipt of a monthly salary.
  • Person who are income-tax payers.
  • Person who are employed abroad.
  • Person who are self-employed or temporarily employed and those who cannot produce concrete evidence of their income, can obtain housing loans from our Bank by joining the "Savers' Housing Loan Scheme."
  • You need not necessarily maintain an account with us in order to obtain a Housing Loan.

What is the quantum of loan one can obtain?
The quantum of loan will depend on the following considerations:

  • The applicant's repayment capacity.
  • Age of the applicant.
  • Value of the property to be mortgaged.
  • Purpose for which the loan is required.

Rate of Interest
The rate of interest applicable will vary according to the quantum of loan and the prevailing market rates of interest.We assure you that our interest rates are comparatively low and always reasonable.

What are the expenses,Which will have to be borne by the applicant?

  • Valuation fee.
  • Inspection fee.
  • Credit Information Bureau fee.
  • Deed registration fee.
  • Title Insurance Policy fee (if necessary).
  • Fire Insurance Policy fee (if necessary).
  • Legal fees.
  • Further details in this regard could be obtained from the Credit Division at the Head Office or any Branch of the National Savings Bank.

Credit Manager
National Savings Bank
Credit Division
Colombo 3.

Tel.Nos. Credit Manager: 011-2573180 –2575371, 011 2375259, 011-2573008-15
Hotline:2574574, 2375260
Fax:011-2573510, 5332439
E-mail: manager.credit@slt.lk

More Info : http://www.nsb.lk/PB_Mihindu_Sevana_Housing_Loan.asp

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Sampath Bank

Sevana

What is it?
A housing loan scheme with value additions, which could be utilized to;
- Purchase a house / Land,
- Construct a house,
- Purchase land & construct a house,
- Complete, extend or renovate an existing house.
- Purchase a Condominium Apartment,

Who can apply for a Sampath Sevana Housing Loan?
- Applicants should have a regular monthly income individually or jointly with the
spouse.

Rate of Interest:
- Contact your branch manager for interest rates and other details.

How much can you borrow?

-

Minimum loan amount is Rs. 100 000, No fixed upper limit.

-

The maximum loan amount is determined, considering the repayment capacity & the Forced Sale Value (FSV) of the property as determined by the Bank.

-

In case of purchasing land & constructing a house, the bank will finance
up to 70 % of the total cost.

-

To extend or renovate your house, you can borrow up to 90% of the bill of Quantity [BOQ] value.

-

Salary of the borrower should be remitted directly to the Sampath Bank &
confirmation to this effect from the employer will be required.

Hot Line : 2303050
E-mail : info@sampath.lk

More Info : http://www.sampath.lk/sevana.php

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CDB (Ceylinco Development Bank)

Manaram

Housing loan scheme is to realise the dream of owning your own house by providing efficient and hassle free financing. Manaram is intended to finance the purchase of a land, land with a house or a condominium property for fixed income earners and self-employed personnel.

More Info : http://www.cdbbank.com/products/

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Seylan Bank

Piyasa

This is the quickest, easiest and most convenient loan scheme that will take your dream home from the drawing boards to reality.

Look at its advantages;
Buy land, build, purchase or even renovate or extend, for which you can borrow as much as 100% of the estimate. (In most cases)

Loans available from Rs.50,000/- to Rs.10 Million.

Repayment spread upto 25 years.

Loans processed in just 2 weeks, if all documents are in order.

The Mortgagee Protection Policy protects dependants from liability in the event of the inevitable.

Piyasa Siri Nivasa…an additional loan which is granted after 6 months for the purchase of household effects and furniture.


The added advantage of the Piyasa Centre, located on the first floor of our Havelock Town Branch at 164-166, Havelock Road, Colombo 05.


To get on the shortest path to your own dream home talk to the Manager of your nearest Seylan bank or call our Hotline: 074514601/2/4

More Info : http://www.eseylan.com/loan_facilities.asp

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Hatton Nationl Bank

Shanthi Home Loans

At HNB, you'll find the answers to your everyday needs and long term goals. In today's busy world, we can help you manage your financial needs conveniently and quickly so you can spend your time doing what you enjoy most. HNB is dedicated to knowing you and your business. Our complete line of quality products and services will help you to keep your business on top. Our belief in responsive, personal service means we're always available to help and take you to the next level.

Contact person :

Mr. C.P. Abeywickrema
Deputy General Manager (Personal Banking)

Hatton National Bank PLC.
Head Office,
Level 19 - HNB Towers,
479, T B Jayah Mawatha,
Colombo 10,
Sri Lanka.

Tel : +94 (011) 266 4710

email : Chandua@hnb.lk

Loan Calculator : http://www.hnb.net/personal_calculator_shanthi.asp

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People’s Bank

Jaya Niavasa

People's Bank now offers a branded Housing Loan scheme for all housing purposes. Our interest rates are competitive and conditions are flexible to suit your personalised needs.

For whom?

  1. Employees of the Public/Private sector.
  2. Professionals
  3. Self employed
  4. Income tax payers
  5. Sri Lankans employed abroad.

What Purpose?

  1. Construct or purchase a house
  2. Purchase a land
  3. Renovations/Extensions/Completion of a house

How quick?
Within 30 days.
(Subject to all documents being in order).

Click here to view list of required documents

How much can you obtain?

No upper limit. The amount will depend on the following:

  1. Repayment capacity
  2. Value of property
  3. Age – (normally up to 60 years)

(The upper age limit will not apply if a joint application is made with a younger member of the family)

Click here for Loan Calculator

Rate of interest - 21% p.a.

(The Bank reserves the right to revise interest rates based on market conditions)

Applicant’s Equity Contribution - 25% of Construction or Purchase value

Repayment period

Loan Calculator : http://www.peoplesbank.lk/loan_calc.php

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NDB (National Development Bank)

NDB Home Loans

NDB home loan is the ideal product to choose if you are looking for a loan to construct, ready purchase, add on an extension, and improve your home or even to purchase a land of your own to build a house.

With a maximum repayment period of up to 20 years (for land purchase loans the maximum period is 15 years) based on your date of retirement at a loan amount starting from a minimum of Rs. 100,000/-and reaching a maximum to suite your budget, age and repayment capacity.

You have the choice of structuring the loan to suit your repayment capacity and repay the loan by means of a pay sheet deduction carried out by your employer or any other mode of payment acceptable to the bank.

With equated loan installments and the ability to mortgage the property being purchased, used for construction or provide any other security acceptable to the bank an NDB home loan is the correct choice for you.

Home Construction
If you already own a land on which you wish to build your dream home NDB Bank will assist you by providing 100% of the Construction Cost, subject to a maximum of 75% of the bank’s valuation of your property.

Home Purchase
Have you come across the house of your dreams and do you need assistance to purchase it? Then turn to a NDB home loan and get up to 80% of the bank’s valuation of the property as a loan to purchase your future home.

Home Extension
Are you still pondering on how to manage adding an extension to your house? Select an NDB home loan and get the funds needed (100% of the Construction Cost) subject to a maximum of 75% of the bank’s valuation on your property, to suit your requirement.

Home Improvement
Opt for an NDB home loan and get up to 100% of the Improvement Cost, subject to a maximum of 75% of the bank’s valuation of your property to add that extra bit of personal touch that will make your home your castle.

Land Purchase Loan
Have you laid eyes on the land that you see as the location for your future home and are you looking at means of purchasing it? NDB Bank with its home loan options provides you the means, subject to a maximum 70% of the bank’s valuation of the property, to make your vision a reality.

NRSL Loan
NDB Bank offers Non Resident Sri Lankans, with permanent employment contracts abroad and earning a minimum salary equivalent to Rs. 50,000/-, an opportunity to obtain an NDB home loan for the purchase, construction, or improvement of a house. You can obtain a loan starting from a minimum amount of Rs. 500,000/- subject to a maximum repayment period of 5 years.

Apply On Line : http://www.ndbbank.com/util/onlin_frms/home_loans.jsp


Viyana Home Loan

Making the wish of having your own home a reality, the Viyana home loan scheme comes to you as a joint initiative between NDB Bank and the Employee Trust Fund Board.

If you are a resident of Sri Lanka with 5 years of uninterrupted ETF membership and currently employed at an organization that is pre-cleared/approved by NDB Bank and the ETF board, the home loan scheme offers a range of loan options from ready purchase to construction, from adding an extension to home improvement, for a maximum of Rs. 1,500,000/-.

NDB Bank also provides you the flexibility of structuring your loan up to a maximum period of 20 years, depending on your date of retirement at a very concessionary interest rate (subject to government taxes) with the loan being secured by the mortgage over property in favour of NDB Bank.

You have the convenience of the payment being deducted from your pay sheet, based on the undertaking of your employer and yourself. Thereby eliminating the hassle associated with repayment.

So, come to NDB Bank for your housing loan requirements, be it for a fresh loan, to redeem an existing loan or even to top-up an existing loan.

We will also be glad to entertain requests for loan amounts greater than Rs. 1,500,000/-, at the normal lending rates of NDB Bank.

Apply On Line : http://www.ndbbank.com/util/onlin_frms/home_loans.jsp

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Bank Of Ceylon

Rannivasa

Ran Nivesa Housing Loan scheme is designed to meet the housing needs of customers

purpose

  • Purchase of a House
  • Construction
  • Purchase of land to construct a house thereon
  • Extension
  • Repairs
Eligibility requirement
  • Age between 18 -55 years
  • Sufficient income to pay monthly installment and interest
  • Ability to contribute 25% of the total cost
  • Maintain an account with the Bank of Ceylon/open a new account

Loan Details

  • Loan amount upto Rs.8 millon
  • Rate of interest 11.5% p.a. (current rate)
  • Period of repayment –upto 20 years/ upto the 55 years of age
  • Security - Mortgage over house & property /or any free-hold property

Required documents

  • Evidence of income\salary
  • Title deed and certified extracts
  • Survey Plan
  • Title Report
  • Local authority documents
    • Certificate of Non-vesting
    • Certificate of ownership
    • Certificate of street lines
    • Assessment notice for the current year
  • Tax Receipt for the last quarter
  • Agreement with the seller (if purchase)

More Info : http://www.boc.lk/bochome/index.jsp

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HSBC

HSBC Home Loans - the widest array of Home Loan solutions

We understand that investing in a home is one of the most important decisions that you make.

At HSBC, we draw on our global knowledge and local expertise to offer you HSBC Home Loans - the widest array of Home Loan solutions, ranging from Construction to Purchase, Renovation to Apartments and even Second Homes.

Home Construct Loan

Construct the home of your dreams.

Details : http://www.hsbc.lk/1/2/personal/home-loans/home-construct-loan

Home Purchase Loan

Purchase your ideal home.

Details : http://www.hsbc.lk/1/2/personal/home-loans/home-purchase-loan

Home Renovation Loan

Renovate your home, just the way you wish.

Details : http://www.hsbc.lk/1/2/personal/home-loans/home-renovation-loan

Second Home Loan

Home away from home, for you or your children.

Details : http://www.hsbc.lk/1/2/personal/home-loans/second-home-loan

Apartment Loan

Achieve new heights.

Details : http://www.hsbc.lk/1/2/personal/savings/sri-lankan-rupee

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Overseas

http://www.quickenloans.com/

http://my.countrywide.com/

US : http://www.homeloans.va.gov/

Australia : http://www.wizard.com.au/

http://www.anz.com/aus/personal/Home-Loans/default.asp

India : http://www.icicibank.com/pfsuser/icicibank/ibank-nri/nrinewversion/homeloans_me_homeloans.htm

Middle East : http://www.msnbc.msn.com/id/3036051/



Apartment Loans

HSBC

Apartment Loans* for a home in the sky.

Apartment Loans* for a home in the sky. No matter how many feet above sea level, we provide you with the financials up to 80% of market value or purchase price whichever is lower of your dream home. What's more, our pre-approved property solutions takes the hassle out of securing your home in the sky. You just need to move in!

(*conditions apply - available for approved property developers only. However, we have tied up with most of the recognised property developers.)

Benefits

  • Home Loans from HSBC offer flexible interest rates. You can choose to fix your interest rate quarterly, annually or for five years to take advantage of the prevailing rate.
  • Borrow from a minimum amount of LKR1 million to a maximum of LKR20 million.
  • Enjoy several repayment options and flexibility. You can pay back your loan over a maximum period of 25 years or until you reach the age of 55, whichever occurs first.
  • An early settlement will be accommodated for a flat fee of Rs. 2,000/00, provided that the payment is made on the interest review date and depending on the type of interest rate option chosen.
  • Freedom of applying jointly with spouse, provided that at least one applicant earns a remuneration of LKR20,000.
  • Customers are entitled to pre-approved Visa/ Master Credit Cards, on approval of their HSBC Home Loan
  • Enjoy additional benefits such as priority banking services, including preferential rates on deposits, special pricing for loans, dedicated counters at Branches, a dedicated relationship manager and world wide recognition with HSBC Premier and PowerVantage.

Requirements

  • Letter from your employer
  • Documents stated in the Application Form
  • A registered primary mortgage in favour of HSBC or a secondary mortgage, if HSBC holds the primary mortgage.
  • Life insurance and annual fire policies with HSBC as the beneficiary.

Need more information?

For more details about our HSBC Home Loans, please visit your nearest HSBC branch

Overseas

USA : http://www.commercialbanc.com/

USA : http://www.apartmentbank.com/

Australia : http://www.realestate.com.au/cgi-bin/rsearch?a=bhp&t=nc-def

Australia agents directory : http://www.kingstreetwharf.net/resources.htm

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Home equity Loan

Home equity Loan

A home equity loan (sometimes abbreviated HEL) is a type of loan in which the borrower uses the equity in their home as collateral. These loans are sometimes useful to help finance major home repairs, medical bills or college education. A home equity loan creates a lien against the borrower's house, and reduces actual home equity.

Home equity loans are most commonly second position liens (second trust deed), although they can be held in first or, less commonly, third position. Most home equity loans require good to excellent credit history, and reasonable loan-to-value and combined loan-to-value ratios. Home equity loans come in two types, closed end and open end.

Both are usually referred to as second mortgages, because they are secured against the value of the property, just like a traditional mortgage. Home equity loans and lines of credit are usually, but not always, for a shorter term than first mortgages. In the United States, it is sometimes possible to deduct home equity loan interest on one's personal income taxes.

Sri Lanka

Lender House :

What We Do - business refinancing, business loan refinancing, and acquisitions

Lender House is an online loan and financing company owned by Premiere Lender.

Premiere Lender is an online loan company focused on matching borrowers with potential lenders in the field of business loans, business financing, corporate lines of credit and acquisition financing. We were founded by an established investment banking firm, in business since 1980.

Premiere Lender receives more than $1 Billion in business loans and acquisition financing requests monthly.


Types of Business Loans:

FINANCING TYPE

Asset - based facilities on a fully secured basis and Cash flow based business credit facilities

TRANSACTION TYPES
Refinancing and restructuring of business loans and corporate loans, Management and Leveraged Buyouts, Recapitalizations, Merger Financing, Business Acquisition Financing, New Business Lines of Credit

COLLATERAL TYPES
Accounts Receivable, Inventory, Machinery & Equipment, Real Estate, and / or Stock and Bonds

INDUSTRY TYPES
All types of Manufacturing, Wholesale, Distribution, and Service companies - Public and Private

SALES VOLUMES
Companies with Annual Sales of $2 million - $100 million and more

BORROWING NEEDS
Secured Lines of Credit from $1 million to $25 million and more

FINANCIAL PARAMETERS
Companies that are highly leveraged, have or had financial losses, low or negative net worth (equity), and / or with poor historical performance. Also companies experiencing a leveraged buyout, management buyout, acquisition, recapitalization, restructuring, or turnaround situation, debtor-in-possession, sub-prime and non-prime business loans, or companies in a growing mode where sales and asset growth are ahead of working capital needs.

If you are a prospective client that fits within these financing requirements, please use our Contact Us secure form for a rapid confidential response.

More Info : http://discountingloans.com/refinancing.htm


Overseas


http://www.mortgageloan.com/home-equity-loans

http://www.myhomeequity.com/HomeEquity/home.do?sc=0


Mortgage

Home Mortgage

Sri Lanka

DFCC Vardhana Bank’s new mortgage loans

DFCC Vardhana Bank (DVB) recently announced a new product intended to positively impact consumers - Mortgage Loans.

The bank said it was introducing this new mortgage product with a view to help its customers become home owners without a hassle.

The new product, the bank said, is expected to increase consumer acquisition for the bank as DVB will now be able to access a whole new consumer niche.

DVB has listed the following conditions to the offering of the new product: Loans will only for housing construction, renovation, and/or house/apartment purchases; Mortgage Loans are restricted to a minimum of Rs. 1 million and a maximum of Rs. 20 million; The bank will provide financing for up to 80% of market value or purchase price (whichever is lower); Several flexible re-payment options are provided; The loan can be settled over a maximum period of 15 years or until the borrower reaches the age of 55, whichever occurs first; DVB provides added freedom by allowing both spouses apply jointly as long as at least one applicant is a salaried employee or self-employed; and the mortgage loan will be granted only if the customer maintains demand deposit accounts with DVB and arrangements are made to route the salary/income through that account.

SIMB

http://www.smib.lk/index.html

Overseas

http://www.mortgage.com/

http://www.yourmortgage.co.uk/


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