End your Confusion about Mortgage Finance Now

January 9, 2015 in Financing by Frank Zelasko

In simple terms, mortgage financing is the process of providing finance to individuals and business entities, to secure properties, and the finance is repaid through timely and consecutive monthly instalments.

To understand the mortgage finance process, you must first try and understand the basic idea behind mortgages.

Mortgage – Definition

It is a legal agreement that conveys the conditional right of ownership of an asset or property by its owner (the mortgagor) to a lender (the mortgagee) as security for a loan with the condition that the conveyance of the title becomes void upon the repayment of the debt.

Are Mortgages Legally Enforceable?

Yes, they are. In order to be legally enforceable, the mortgage must be for a defined period, and the mortgagor must have the right of redemption on payment of the debt or on before the end of that term.

Why is Mortgage Finance Common?

Here is a list of why it is the most common type of debt instruments:

>> They have a lower rate of interest (because the loan is secured);

>> They are straight forward and have standard procedures; and

>> They have a reasonably long repayment period.

What is a Security Document?

The document by which the agreement is effected is called a “Mortgage Bill of Sale” or simply just a “mortgage.”

What are the Common Mortgage Finance Types?

Real Estate Mortgage – Virtually any legally owned property can be mortgaged, although real property (land and buildings) are the most common.

Chattel Mortgage – When personal property (appliances, cars, jewellery, etc.) is mortgaged, it is called a chattel mortgage.

Second Mortgage – There are situations where it is possible to obtain finance when there is already an existing mortgage associated with the property. It is not unusual for real estate laws to require that the holder of the first mortgage agree to the creation of a second mortgage.

Who has the Right of Possession?

For real property, vehicles, and equipment, etc., the right of possession and use of the mortgaged item normally remains with the mortgagor. But, the mortgagee has the right to take possession at any time to protect his/her security interest.

What Happens in the Event of a Default?

In the event of a default, the mortgagee can:

>> Appoint a receiver to manage the property (if it is a business property), or

>> Obtain a foreclosure for a court to take possession and sell the property.

Glossary of Common Terms Used

>> Mortgagor – the borrower of funds

>> Mortgagee – the lender/credit provider of funds (e.g. a bank or credit union, etc.)

>> First Mortgage – a mortgage that has priority over all mortgages and liens except those imposed by law

>> Second Mortgage – a mortgage that is subordinate to a first mortgage

So, now that you have read this information guide, you should have a good basic understanding of mortgage finance. It will help you in obtaining the right finance for your real-estate property.

Singh Finance can help you in obtaining low rate home mortgage finance. The firm’s expert finance brokers will understand your situation and help you in obtaining several loan packages like vacant land loan, home loan refinance and construction loan. Call on 0424 190 908 or enquire online now.

Caveat Loans are a Boon for every Business Owner

January 9, 2015 in Financing by Frank Zelasko

Specialised lenders/credit providers can solve the cash flow problem of business owners with the help of a caveat loan (sometimes referred to as a short-term 2nd mortgage). The loan is ideal for business owners because:

>> Bank style credit approvals are not required

>> Tax returns are not required

>> No credit checks are undertaken on your credit history as bad credit history is not relevant

Interestingly, a caveat loan is not only right for a business owner but it can also be beneficial to a property developer or an investor.

Caveat Loans – Definition

They are fast settling loans, which are structured for a short-term of usually between 1 to 12 months, with a possible rollover (if required).

In contrast to conventional forms of finance, caveat loans need to be established quickly (i.e. within 24 hours from the time the application is first lodged).

How does a Caveat Loan work?

These loans are simply an ‘asset lend.’ For caveat loans, all you need is to be the owner of a piece of real estate. Here is a list of residential, commercial, industrial or specialised securities that the loans are commonly secured against:

>> A home or a unit

>> Vacant land

>> Medical centres

>> Child care centres

>> Commercial properties

>> Rural land, farmland or agricultural land

>> Acreage (with no limit), etc.

How are Caveat Loans Structured?

>> They are structured just for a short-term of 1 to 12 months period

>> They generally have a five day “fast-settlement”

What is the Loan Exit Strategy and how are Caveat Loans Repaid?

The loan exit strategy is where the borrower agrees to pay the loan back to the lender/credit provider at a predetermined time (usually between 1 to 12 months).

The repayment of the loan can be done by one of the following methods:

>> You can refinance the loan

>> You can sell the asset

>> You can use any business cash flow or commissions due to you

What Other Reasons do Business People Choose for obtaining Caveat Loans?

Here is a list of many reasons (scenarios) why business people choose the loan:

>> A common use of the loan is if business people require funds for bridging between the selling of a property and the funding of an urgent requirement;

>> Having the required cash flow in hand by way of the loan has helped many business people to pay off their debts and thereby enabling them to go on with the running of their business;

>> It may be that business people want to expand their business, and they need additional funds to enable them to fulfil their business goals;

>> They may want to attend an auction and the need to transfer the funds right after the auction ends; or

>> They may simply have a business deal that is too good to let go, and they currently do not have the required cash to pursue this business deal.

So, now you know how caveat loans can help you. More importantly, you also know that the loans can help you with any unexpected urgent commercial debts that you have to pay before any legal process is taken against you (e.g. default or court judgement) or before you are charged with late fees.

Singh Finance helps business owners in securing finance for their business. The firm’s expert finance brokers will help you in securing fast caveat loans as well as help you in obtaining low rate business equipment finance and short-term business loans. Call on 0424 190 908 or enquire online now.

How to Refinance your Current Mortgage Loan with Title Insurance?

December 22, 2014 in Mortgage by Frank Zelasko

Refinancing your mortgage from one lender/credit provider to another can be lengthy, costly and time consuming. The new and efficient way to refinance your mortgage is to use “Fast Refinance.”

What is Fast Refinance?

Fast Refinance is a unique refinance process whereby your new lender/credit provider uses a product called Title Insurance to:

• Facilitate the refinancing of your loan in days, not weeks (faster same-day settlement)

• Enable an “Unattended” refinance settlement (no settlement meeting or booking takes place)

• Reduce settlement costs (all correspondence and funds sent electronically)

• Streamline the mortgage loan process (requires minimal additional documentation)

What is Title Insurance?

Title Insurance provides protection to lenders/credit providers against known and unknown title defects on a security property. It offers additional risk cover to strengthen and enhance your legal interest in the mortgage and the security property.

Why Choose Fast Refinance?

You should refinancing your home mortgage with the same extreme care you put into getting your original mortgage, and it is just as big a financial decision. So when you are thinking of refinancing, you should consider the following benefits of “Fast Refinance” and more importantly why wait for up to 6 weeks or more to take advantage of these benefits, such as:

• No Fees – most lenders do not charge Fast Refinance fees

• Very quick Settlement – when all documents are received and certified you can have an approval in as little as one or two days

• Savings – if refinancing at lower interest or extended term, it will save you money and even reduce your monthly repayment

• Easy for you – as your new lender will contact your current lender and organise the new loan, you do not have to approach your old lender

• Access to Funds – you may be able to access additional or surplus funds much quicker than when doing a standard refinance transaction

• No Contact from your old Lender – process circumvents the old lenders “retention unit” from making contact to try and persuade you to stay with them

How Does Fast Refinance Work?

You will need to complete a new loan application with the new lender/credit provider and provide all requested documentation for your new loan, and the new lender/credit provider will:

• Approve the loan application
• Prepare all the Fast Refinance loan documents
• Request you to sign and complete all the documents and state the “payout figure.”
• Deposit into your old loan account sufficient money to reduce the loan balance to Nil
• Pay you direct any surplus funds from the new loan

How Can a Finance Broker Help With Fast Refinance?

A professionally qualified finance broker is very experienced with arranging refinancing of client loans and he/she will help you in answering the following questions:

• Am I eligible and how can I qualify for a “Fast Refinance” loan?

• Can you help me to compare my current product features against the new product features before I decide to refinance my home loan?

• Can you help me obtain formal approval to Fast Refinance my existing home loan and at the same time obtain pre-approval loan for new investment property?

• With a Fast Refinance loan can I access the equity from my existing owner occupied property to assist me in the purchase of a new investment property?

• Will I be better off refinancing my existing home loan and consolidating my debts?

• What documents do I have to provide when refinancing or consolidating my debts?

• Can you help me to calculate the value of my home equity?

• Can you help to calculate my present loan-to-value ratio?

So, don’t forget to help of a finance broker. He/she will make you ready for fast refinance and ensure that you get cheaper rates and a better deal.

Quicker approval and better interest rates can be availed by refinancing your current home loan. Solve all your financial troubles by calling on 0424 190 908. Singh Finance will not only help you in managing your current loan effectively, but it will also help you in making new investments by providing easy real-estate investment property loans.

Bunker Management Software for Better Cost Control and Profitability

December 22, 2014 in Business by Ava Cristi

Innovations in software systems have benefited the shipping industry. IT packages

offer solutions that maintain reliability and streamline vital processes that entail

on-time deliveries, a secure supply chain and avoidance of additional costs on the

part of shipping operators and managers. Container tracking software helps companies

with reliability by keeping tabs on scheduled arrivals and departures. Meanwhile,

bunker management software can optimize fuel efficiency by providing an

overview of bunker consumption. Carriers and operators aim to optimize revenue

generation by streamlining core functions.

With respect to bunker management, the call for more environment-friendly fuels

would have a strong impact on fuel consumption. New innovations that seek to replace

high-sulfur bunker oils have been introduced to the market in the form of Liquefied

Natural Gas or LNG. This comes with international calls for safer fuel alternatives

to bunker fuel, which has seen recent price fluctuations. On top of this, maritime

organizations are introducing directives calling on carriers to minimize high-sulfur

fuels or replace them entirely with safer options, particularly LNG. In fact, the

International Maritime Organization is expecting that high sulfur fuels be phased

out by the end of 2020. Transitioning to LNG however entails massive expenditures on

engine modifications. It would also entail a lot of time to adopt technology that

reduces fuel emissions and allows better bunker management. Nonetheless, shipping

carriers are considering the possibility to convert to LNG, primarily for better

cost-control.

In the meantime, software (whether in-house or off-the-shelf) could maximize fuel

efficiency, provide higher profitability and prevent operational complications. For

shipping companies that have yet to consider LNG, there is a need to invest in

structural improvements. Managers can switch to fuel efficient propellers. They

could also resort to better speed management and ship maintenance which are best

facilitated through maritime software packages. Efficient liner shipping software

should be considered with respect to fuel efficiency. They economize consumption and

keep track of purchases. Moreover, a package should also allow users to perform

calculations on fuel storage and gauge cost-related factors not involving fuel.

Container repair software can be used in order to manage repair invoices and claims,

estimate costs on possible damages inflicted by another party, and control

additional costs such as repair tariffs. It should provide an interface that

prevents any unnecessary expenses as a result of duplicate estimations and other

issues. Shipping management software solutions should be top priority. With

such a system in place, operators would no longer worry about reducing speed to cut

back on fuel consumption and facing possible delays as a result. Moreover, the

package is designed to calculate variables such as travel time and weather

conditions for optimum fuel control. This way, operators maintain control over

bunker consumption while being assured of a safer voyage.

These solutions along with bunker management software could save operators a

fortune as well as facilitate processes that could otherwise be difficult to

manage. Systematic operational maintenance could save them the stress of having

to confront headache-inducing and wallet-burning while plans to convert to more cost

efficient alternatives are being considered. .

:Maintain Cost-Efficient Bunker Consumption through Shipping Software

December 22, 2014 in Business, Technology by Ava Cristi

Carrier operators are recently shaken up by significant developments involving one of the world’s largest oil suppliers. The shock comes after Denmark-based oil supplier OW Bunker has filed for bankruptcy this year, citing up to $750 million in debt due to alleged fraud. Analysts say this will spark a domino effect as carrier managers are hard-pressed to find alternative suppliers and make up for exposed amounts. Increases in the market price of fuel are also feared. This spells only tough times ahead for many carrier operators, especially those without shipping management software.

It is essential in the maritime services sector to adopt cost-efficient ways to stay afloat in such a volatile industry. It is volatile in the sense that it experiences numerous events that challenge profitability, such as OW Bunker’s filing for bankruptcy. Such scenario has prompted an increase in the demand for effective marine software solutions.

However, companies that already have integrated shipping management software are well-prepared to meet such challenges and shipping software companies have already churned out a variety of cost-saving solutions that profess better management of bunker consumption regardless of various scenarios.

Prior to the development of integrated shipping software, carriers relied on structural modifications to render their vessels more fuel efficient. For instance, modified fins can be considered for better speed regulation. The downside to this is that modification costs a fortune and takes a long time to install. Modern shipping on the other hand relies on digitizing speed calculation and management through intelligent voyage calculation. The system automatically estimates and determines ideal vessel speeds. It makes complex calculations that can accurately identify fuel-efficient speeds without compromising on-time deliveries, in a sense leading to bunker savings.

Other factors such as weather conditions and technical failures also pose risks to effective fuel consumption. Operators are powerless with regards to these, which is why they need a shipping software system that mitigates the effects of such scenarios. An intelligent voyage calculation system can make precise estimates as to current position and voyage duration. It then recommends a wide-range of actions that the crew can undertake to keep fuel intake within ideal limits while minimizing, if not eliminating, delivery delays.

Marine software solutions also allow for effective fuel management. There are software options that feature accurate fuel usage estimates using sophisticated operations. The software determines the actual consumption needs of the vessel, singling out the “cappuccino effect” which usually happens when filling up the vessel’s engine. With sophisticated bunker management software, monitoring bunker activities can work like a breeze. Carriers can breathe a sigh of relief knowing that they are consuming bunker volumes actually needed for particular voyages. Imagine the savings it entails!

Commercial shipping management has come a long way. From making manual estimates on bunker consumption, carrier operators now use marine software solutions to face a variety of challenges to their revenue generation. Despite difficult times ahead for the bunker fuel market, carrier operators can continue making money through automated fuel management processes.

Useful Tips for obtaining First-Time Investment Property Loan

December 22, 2014 in Loans by Frank Zelasko

If you are one of the many first-home buyers who have been working hard over the ensuing years to pay down your mortgage as quick as you can, there is good news. With an increase in the value of your property, you now have access to a significant amount of equity sitting in your current home. This accessible equity can provide you with the perfect springboard to becoming a first-time investment property buyer.

So, if you are considering taking your first steps into the property investment market, you may find that you are:

• Looking at the second property as “doubling your commitment” to servicing your ongoing debt, or

• Unable to muster up enough courage to start the first move into an investment property market

Useful “Tips” for First-Time Investment Property Buyers

Don’t worry if you worried about your financial situation. If you are serious about being financially independent by the time you retire and you have been considering investing in property for the first-time, here are some useful tips to help you become successful in obtaining investment property loans:

• Find a Suitable Property – Have a clear idea of the type of property you want to buy and its location

• How much you can Borrow – You will need to assess the amount of debt you can take on. You can use a suitable “Borrowing Power Calculator” to help you determine the amount you can borrow

• Budget – You will need to establish a personal budget, which involves adding up all your income as well as working out all of your expenses. You can use a “Budget Planner Calculator” to help you determine the amount you can borrow

• Rental Income – You will need to make sure the rental income you receive from your investment property will cover the total costs of your investment property

• Tax Deductions – There is a range of property investment tax deductions you can claim. So, it is important you seek tax accounting and legal advice from your tax accountant and solicitor

• Loan Purchase Costs – Buying your investment property does come with a range of costs. Some of the typical costs include loan establishment fees, conveyancing costs, stamp duty, and Lenders Mortgage Insurance (LMI) premium (i.e. payable if the total amount of your borrowings is more than 80% of the total security value of your properties)

• Investment Loans and Options – The type of loan you obtain should depend on your individual situation and should reflect your investment goals. There are also numerous home loan options with a range of features and benefits to choose from.

• Loan Pre-Approval – Before you go looking for your first investment property, you should arrange to get your loan pre-approved. Because, a pre-approved investment property loanwill give you the peace of mind and surety when you are bidding at an auction.

I hope these tips will guide you in obtaining a better investment loan deal and make you a successful first-time investor. If you are overwhelmed with the amount of work that you will have to do for making investment in a property, it is best to seek help and guidance from a professionally qualified finance broker.

Having a specialist finance broker on your side will save you lots of time and heartache because he/she will negotiate on your behalf with numerous lenders/credit providers and secure your eligibility for a first-time investment property loan. So, don’t take tension of the loan process, employ a specialised finance broker and let him/her find the best investment property loan deal that suits your needs.

Quick approval, complete expert assistance and lower interest rates – Singh Finance’s team of experienced finance brokers manage to provide you all these benefits with just a phone call on 0424 190 908. You can even enquire online for obtaining low rate first-time investment property loan or construction loan for your home.

5 Common Questions regarding Instant Bad Credit Auto Loans

December 22, 2014 in Financing by Jeffery Reynolds

Magazines and newspapers publish car loan research studies daily. Each study tries to provide an instant solution to bad credit problem. Few studies may suggest you to seek help of a consultant while others may advise you to pay off all your debts. But, freedom from bad credit problem is not very easy. It takes time because there are no instant results. However, there is an alternative for getting a car loan with bad credit history. It is called “Instant Bad Credit Auto Loans.”

What are the Benefits of Instant Bad Credit Auto Loans?

Here’s why instant bad credit auto loan program is beneficial for car buyers with bad credit problem:

>> You can obtain quick car loan approval without any trouble of credit history

>> You can get affordable interest rates and enjoy a fair chance of improving your credit score

>> You can fulfill your car dream easily because the loan program is available across United States of America

Now that you have understood the benefits of getting instant bad credit auto loans, it is time to move ahead. Let’s get answers to the most common questions that you may have in your mind.

1. How to get instant approval on bad credit auto loans?

It is very simple to get instant approval on bad credit auto loans. You need to be at least 18 years old for submitting the loan application. Your gross monthly income should be $1500 or more than that. Also, there should not be bankruptcy or repossessions in your recent past.

2. What should I do if my credit score is very poor?

Don’t take tension if you have a very poor credit score (i.e. your credit score is below 580). Instead, you should focus on convincing the lender. You can show copies of recent pay-slips or provide Employment Verification Letter to the lender. It will help the lender in judging your current financial situation. You can even get a co-signer or down payment to strengthen your loan application.

3. How much down payment is required for instant bad credit auto loans?

Down payment lowers the loan amount and so, it is ideal for car buyers. It is even better for a bad credit borrower because it manifests his/her stable financial condition to the lender. If you have bad credit score, you must manage a minimum of 10% down payment. Remember that if you increase the down payment amount, your approval chances will also increase.

4. Do I need to bring a co-singer for singing the auto loan contract?

A co-signer is not compulsory for getting approval on instant bad credit auto loan program. But, it is advisable to have one. If you have someone with a good credit score as your co-signer, the lender will have no tension of getting back his/her money. So, he/she will approve your loan request easily.

5. Will a dealer or lender approve my loan application?

Lenders and dealers have different approval criteria. Traditional lenders are very strict in approving loan applications. They don’t approve loan requests of bad credit car buyers.But, dealers have no problem in providing loans to people with troubled credit history. So, usually a dealer will offer you a bad credit auto loan quote.

Don’t worry if a dealer approves your loan request. It shouldn’t matter who approves your car loan application. You must focus on the loan details like the loan amount, interest rates, fees and penalty. It will help you in choosing the best instant bad credit auto loan program.

So, this is what you need to know about instant bad credit auto loans. I hope this article solves all your doubts. All the best for your loan! Hope you get instant approval!

If buying a car is your priority, let Car Destination help you in fulfilling it. Get low rate bad credit auto financing with instant approval. Don’t worry if you have no money to make a down payment. Bad credit no money down car financing program is available for you.

Take Help of Experienced Finance Broker in obtaining Agriculture Loans

December 22, 2014 in Loans by Frank Zelasko

Agriculture is a major sector for the Australian economy contributing 12% GDP. 307,000 people are employed in the sector that earns $155 billion-a-year. The numbers clearly show that agriculture is a big business and like every other owner of a huge business, farmers often have to seek quick and affordable finance.

Funding Requirements

Many finance brokers or even lending staff employed by the banks do not understand fully, the essential components for obtaining funding for your farm business. So, if you are looking at expanding your farm business, or just looking to better manage your business during the cycle seasons and commodity fluctuations, here is a list of funding situations where you can use an agriculture loan:

• You may be looking at buying a neighbouring property

• You are a livestock producer looking to purchase vet supplies

• You may want to increase your livestock numbers

• You may need to buy cropping supplies (e.g. weed spray or fertiliser)

• You are looking to purchase, upgrade or replace your farm or business equipment

• You may need to meet your seasonal expenses

• You would like to consolidate all your agriculture finance into one loan, making your finance simpler and more cost effective, or

• You may need drought survival assistance

Summary of Agriculture Loan Options

Here is a list of agriculture loans that have been specifically designed by specialised lenders/credit providers to address the specific needs of your farming business. These loans are also more flexible than other loans:

Farm Term Loan: It is an ideal loan when you are considering capital improvement or purchasing property. The loan is flexible, in that it will enable you to choose the option of Interest-Only or Principal and Interest repayments.

Livestock Finance: It is specifically designed to enable you to invest in your livestock breeding. The loan has flexible repayments that can suit you cash flow.

There are other Agriculture loan options available to you, and these are:

Overdraft or Short-Term Finance: The loan type will provide you with the required working capital to fund any short-term production costs and to cover any cash flow shortfalls.

Equipment Finance: The loan type provides you with the options to purchase, upgrade or replace your farm or business equipment. The options are either a finance lease, asset purchase or an equipment loan.

Line of Credit: This is a convenient loan facility that puts you in charge of your finances and you can use the money when and how you want to.

Why Contact a Finance Broker?

Farmers need specialised advice from experts who have the right industry experience as well as having a thorough knowledge of the changing economic and market conditions. If you choose a specialised and experienced finance broker, he/she will:

• Understand fully your financial needs by working closely with your accountant and solicitor

• Ascertain your current financial situation and devise an optimum “Farm Business Plan” for you

• Provide with up-to-date economic data and financial information that will help you sharpen your competitive edge

• Assist you in obtaining funding for any agriculture loans you may be considering

• Ensure you meet all the requirements of specialised lender/credit providers

• Provide you with the required funding options, and

• Help you in choosing the right agriculture loan

So, don’t worry when you need affordable finance for farming business.Contact a finance broker and take his/her help in obtaining quick agriculture loans.

Singh Finance is the perfect financing partner for every business. The firm’s experienced finance brokers will go the extra mile in finding you the low rate agricultural loans. Call on 0424 190 908 for quick approval on equipment finance and fast business loans.

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