Wednesday, 28 March 2012

International mortgages

There are literally hundreds of different types of mortgages out there. At Liberty Financial Consultants in North Yorkshire we can give independent advice on any type of mortgage, so you know we can find the best mortgage for you. Surveys suggest that advice on international mortgages is being increasingly sought after. So, what is an international mortgage?

International mortgages work more or less in the same way to normal mortgages for properties being bought in North Yorkshire and throughout the UK. That is to say that you borrow money from a lender in order to buy your house and the lender uses the house itself as security for the money they have lent you. This money is then paid back, usually on a monthly basis over a fixed period of time. International mortgages, however, are specialised mortgages for buying properties overseas and as such there maybe different penalties or taxes involved (you should always check this with your mortgage adviser). If you do some research and chose the right market, buying a property abroad can be a fantastic investment.

There are many different types of mortgage depending in the country you want to buy in and an experienced mortgage adviser will be able to advise you on these different mortgages. However, generally there are two basic types of international mortgage:
Repayment Mortgage
You re-pay a set monthly amount of money which consists of the actual money you borrowed (the capital) plus a share of the interest on the money you borrowed. At the end of the agreed period of time you will have then totally paid off the mortgage.

Interest-Only Mortgages
The monthly repayments made to the lender only cover the interest owing on the amount of money borrowed. You do not pay off any of the capital you have borrowed. At the end of the fixed period of time (usually 25 years) the actual money borrowed (e.g. the capital) remains the same. You must save money in order to pay off the outstanding money at the end.

Tips on International Mortgages
·         calculate the costs of visiting the property before you buy
·         discuss tax and conveyance fees with your mortgage adviser
·         check how much stamp duty you will have to pay

Mortgages Dorset: Re-mortgaging

Are you thinking of re-mortgaging? There are many different reasons for wanting to re-mortgage: maybe you are moving home, looking for homes for sale in florida or wanting to reduce your monthly outgoings or even just wanting to go on a little six month break along the Dorset coast. Whatever the reason for wanting to re-mortgage you need solid, dependable advice before taking the plunge.

Many believe that with the soaring house prices it has never been a better time to re-mortgage your house but what different aspects do you need to consider before you decide to go down this route? Read up on these comprehensive re-mortgaging tips:

·         Seek advice from a broker who has access to the maximum number of lenders possible and can therefore aid you in considering all the different re-mortgaging possibilities.
·         Be sure to read all the information about “tie-ins” and “penalties”. If you opt for a mortgage which penalises for switching mortgage lenders or ties you to a lender for a fixed period, make sure you know about it before you sign.
·         Be sure you understand and know the terms of your current mortgage agreement before looking into re-mortgaging and then you can make an informed comparison.
·         Be aware of any “early repayment charges” which you may incur should you decide to pay off your mortgage before the agreed time period.
·         Resist the temptation to extend the length of your current mortgage term. Often it appears to be cheaper but it costs more overtime when you take into account the total interest you will pay.
·         Remember to calculate all the fees involved in re-mortgaging. Areas to think about are: the legal fees, the valuation fee (you will be required to re-value the cost of the house) and the arrangement fee (money paid to the lender for the re-mortgaging paperwork involved)

Tuesday, 27 March 2012

Steel Buildings – £6 Million Dustbin Bags Design Award

As steel buildings go, the Ivor Crewe Lecture Hall at Exeter University is a fairly unique design; so much so that Prince Charles once described it as a ‘dustbin’. It has, however, recently won a design award.

According to a report on the BBC, an architectural design award was recently awarded to the Ivor Crewe Lecture hall in recognition of its status as one of the country’s most innovatively designed steel buildings. The building, which the Prince of Wales once famously described as looking like a ‘dustbin’, cost £6 million to build and is constructed predominantly of stainless steel.

Steel Buildings – Recognition of Excellence

Steel buildings are increasingly popular due to their durability and sleek design opportunities. The Ivor Crewe Lecture Hall at Exeter University is now established as one of the most recognisable steel buildings in the country and was designed by a leading architectural practice. According to the report on the BBC, the building was awarded recognition by the Civic Trust for being one of the most “elegant and simple” stainless steel buildings in the country and was noted for being a “culturally, socially and economically beneficial building.”

Steel Buildings – The Construction

Besides being one of the most unique and recognisable steel buildings in the UK, the Ivor Crewe Lecture Hall is also one of the most imaginatively designed. The building is situated on a slope and sits on a grid of concrete ground beams. The roof, quite uniquely for steel buildings, not only incorporates steel beams but also laminated timber. The overall design and visual impact of the Ivor Crewe Lecture Hall is what makes it one of the most striking steel buildings in the country and played a large part in its receiving of the design award.  

Steel Buildings – Berlin Trumps London Eye

As steel buildings go, the London Eye cuts a fairly impressive figure across the capital’s skyline. Unfortunately, however, Berlin has decided to go one better by building a Ferris wheel some 50m higher than London’s effort.

According to a report in the Daily Mail, Berlin plan to build a Ferris wheel of their own in order to rival London’s iconic feature. Weighing in at a colossal 6,500 tonnes, it will certainly be one of Germany’s largest steel buildings when it is completed and it will have a significant claim to fame in being the tallest Ferris wheel in Europe if not one of the largest steel buildings designed.

Steel Buildings – Room With a View

In one of the most ambitious steel buildings that Germany has devised, the 185m tall, Berlin Wheel, will dwarf the London Eye by some 50m. According to the report in the Daily Mail, the visually spectacular wheel is scheduled to be completed in 2009 at which point it is expected to take its place amongst some of the world’s most striking steel buildings. The construction hopes to be one of Germany’s biggest tourist attractions as Ferris wheel’s appear to have become a prerequisite for all major cities throughout the world.

Steel Buildings – China Leads the Way

According to the report in the Daily Mail, China hopes to build a series of Ferris wheels that will add to their already substantial array of steel buildings. As Beijing is the venue for the Olympic Games in summer, it had hope to complete construction of the Beijing Wheel in time for the opening ceremony but, as steel buildings often involve complex designs, it is now not expected to be completed until 2009. As steel buildings are extremely durable, the Berlin Wheel will be capable of housing 1,500 at any one time on the ride which will last just over half an hour. In total the entire project is expected to cost in excess of £85 million. Speaking to the Daily Mail, Gereon Asmuth of Germany’s TAZ newspaper, stated, “The wheel is the perfect symbol for the 21st century.”