November 10, 2016

The most important advantage of using Bridging Finance is that you can complete the purchase of a new property before the sale of your existing property has completed. As organising the sale of your existing property and co-ordinating the purchase of a new property can be extremely difficult and create stress and pressure. If there is enough equity in your existing property you may be able to incorporate the finance needed for all of the fees involved. A Bridging Finance Loan is a temporary home loan which enables a purchaser to buy the property of their choice without being held up by the lengthy sales process. This can be a huge plus when you find the property for you and you do not want to risk losing it through a lengthy chain in your sale. You can also use Bridging Finance to avoid moving into rented accommodation and move straight into your new home.

Bridging Finance also has the advantage of having a quick process and has many different uses. It can be used for funding auction finance, first and second mortgages, home renovation and refurbishment, new-build development and construction as well as debt consolidation. Many Bridging Finance providers offer a option to defer fees to be charged until the completion of your sale and then added to your new mortgage, this can be useful in keeping the costs down.

There are several disadvantages when using Bridging Finance that you should be aware of before choosing this route. You may be required to have sufficient equity in your current property to support the purchase of both properties. As well as this you should also note that until your existing property is sold your interest payments will keep adding up, this can lead to difficulties if you do not sell your property quickly. Taking out a Bridging Finance home loan may force you to sell your property at a price lower than you wish to due affordability. You will be charged interest on the entire amount of the new loan. A Bridging Loan is only designed for short term use to bridge the gap between your purchase and sale usually only between 6 to 12 months, obviously the shorter the term of the loan the less cost there will be to you.

When using Bridging Finance you will pay a higher rate of interest this is because Bridging Finance is seen as riskier by the lender. It can be difficult to find a bridging loan this is because the risks are high so not many lenders are involved in the bridging market. There usually is a large amount of paper work and money involved as the finance covers two properties. As the loan is short term lenders do not make the same kind of money as with a traditional mortgage. This makes providing Bridging Finance less attractive for lenders and subsequently results in there not being many available lenders in the market. So when you need a bridging loan quickly this …

Should You Buy Long Term Care Insurance?

Most people start thinking about the possibility of needing nursing care asf they hit middle age. Many have family or family who needed home health care, assisted living, or a nursing home. At this time, people learn about the high cost of long term care, and they wonder how it gets paid for.

Consider this. Full time nursing homes can cost $50,000 a year or more. Home health care may not be that much less, depending upon the amount of services needed. Assisted living facilities cost less, but may still be a lot more than it costs to live on your own. And the government estimates that 40% of people who turn 65 will need some sort of nursing care during retirement years.

How does this get paid for? Medicare, the federal health insurance for seniors and disabled people, only pays for short term care. Medicaid does pay for nursing homes, and in fact pays for half of all of thee costs in the US. But in order to qualify for Medicaid, a person has to deplete most of their assets.

So some people purchase a long term care insurance (LTCi) policy because they want to protect their savings in case they need to go to a nursing home. There are also alternative ways to plan for this which other choose. And many people have not done any planning at all.

Disadvantages of Long Term Care Insurance

Who do some people choose LTCi alternatives? Why do many people do nothing? Look at some things that they may consider.

Insurance exists to manage risks. When you purchase an auto insurance policy, you hope you will not have to use it. With most LTC policies, it is the same. You could pay premiums for years, never need it, and get nothing out of your policy except the security of knowing you have it. Some LTC policies may have a return of premium feature but it is not common.

LTCi policies are complicated, and there are many different types. Some are more useful and flexible than others. So some types of coverage may not help you for the particular situation you are in. For instance, you may have purchased a policy that only covers a nursing home. But an illness may only require adult day care or home health care. Again, some policies will cover different types of care so you, or your family, can make a choice when the time comes.

Premiums are lower for younger and healthier people, but can go up over time. If you cannot afford to pay premiums when you get older, it will not do you any good if you have to discontinue coverage. You have to make sure that you can afford the policy.

Advantages of Long Term Care Insurance

Of course, a lot of people do think LTCi is a great choice to make sure they have protected their assets.. And some features may even help them before …

If you’re in – or want to get into – the training business, you’re going to face the challenge of determining how much to charge for your training programs. It can be a frustrating and intimidating process. Keep in mind that professions like physicians and attorneys, and yes, even plumbers, have widely varying rates. The training field is no different. You could get some guidelines from a professional organization like ASTD (American Society of Training and Development), or you could probably find some information online.

But here are some considerations and guidelines to keep in mind. First of all, fees are based on a number of factors:

  • your training subject (“commodity” training, like teaching a computer program, is cheaper than “soft skills” training, such as leadership development, that add polish and marketability to executives)
  • your experience and reputation (someone in the business a long time, with an established client list, and other credentials, such as a published book, will simply be able to charge more than a “newbie”)
  • the perceived value of your training results, such as whether your training delivers a measurable improvement in performance, such as mastering a new skill, versus just some book learning or “feel good” outcomes
  • what the client will pay (corporations with deeper training pockets won’t flinch at a fee that might turn away a smaller business)

While there are no set industry standards for fees, here are some guidelines you can use:

  • If you’re going to charge by the hour (probably not the best choice unless you’re going to do a lot of consulting or individual coaching), fees range from probably $50 to $500 an hour, based on all the factors listed above. You might offer a “quantity discount” for multiple-hour projects.
  • If you’re going to offer public seminars, where people register on their own to attend your program (in a hotel meeting room or your own classroom), then you’ll probably charge per person. Your goal is to fill seats, so your prices need to be perceived as a “bargain,” so lots of people will sign up. Common prices for these types of programs are usually something like $99 or $129 a person.
  • If you’re going to do your business with companies, it is probably the most practical to charge by the workshop. Depending on the nature of the program, the intensity of its learning environment, the audience it’s intended for, and the other criteria above, it could range anywhere from $500 to $10,000 a day. I’m guessing that $2,000 to $5,000 is the most typical. There are always some fixed costs in a workshop, no matter what its length, so a shorter session is going to appear proportionately more expensive. As well, the charge for a longer session will be proportionately less since the fixed costs are spread out over a longer time. So, for example, say you charge $2,500 for a day-long program. For half a day, you might charge $1,500 (more than half of the $2,500). For a two-day session,