Business, Family, Life/Living

First Time Home buyers Top Four Things Forget

First Time Home buyers. The first time you buy a house is confusing and scary. There is a lot to consider.

Inevitably, there are things that slip your mind. First timers, in particular, can get overwhelmed and forget things that are important to them.  Check out this list of the top four things new home buyers forget when it comes down to the wire.


Buying your first home takes a lot of decision making, both big and small. Each decision, no matter how trivial, can have a lasting impact on your home buying experience. From finances to landscaping, there is a lot to consider. It can be very confusing, and most people forget more than a few things they wanted to keep in mind. First time home buyers, especially, can get anxious and make simple mistakes. There are the four major things first time home buyers should always remember.



  1. Start with a Budget


The first step in buying a home is to figure out how much money you have and how much you can spend on a house. Some people save enough to buy a home in full. Most people have to get lenders to help, which isn’t always easy. The first step is to calculate the amount of home payment you can afford each month. Consider all present and future expenditures as well as wages, inheritance, winnings, tips and other income. A bank or mortgage company will need this information in order to lend money. The budget will change later when the cost of the house is revealed and closing costs are included.



  1. Know Your Utility Costs


When making budgets and planning for the future, new home buyers often forget to consider their utilities. Unless the new home is identical to the old home, there will be changes in how it is heated, how it gets water and is plumbed, and other utilities. These changes can drastically influence the monthly cost. Its good to know a year or so previous energy costs to judge future costs.



  1. Be Aware of the Neighborhood – Perfect a first time Buyer to Look Around


Often a house can be so perfect a first-time buyer will forget to look around. They do not see the surrounding environment and may miss important factors such as:


– High crime rate

– Deteriorating property values

-Busy roads

-Poor school district

-Undesirable neighbors


Begin the search for your new home by simply cruising around several different neighborhoods to see what they are about. Look at the different types of homes and note the condition of the homes and businesses. Would you want to live in the area? A realtor can also help. Ask for help finding a neighborhood with the characteristics you most desire.




  1. Take Advantage of the Benefits For First Time Home buyers


There is a lot of financial advantage for first time home buyers. Many lenders offer special rates for new clients with no previous home purchases. Schools, companies, and other groups often offer their members new home buyer benefits. The government also offers first-time buyer advantages in several ways.



Buying a home for the first time can be frightening. The most important step is making sure you can afford the payments. Learn to budget carefully, even if it means giving up luxuries like gourmet coffee and dining out. Know how much you can save each week and commit to it stringently. Make a list of all the things that are most important to you in a home and realize there will have to be some things that aren’t perfect. Knowing what you want and what you can afford will start you on your way to home ownership.



Business, Jobs, Life/Living

The Top 3 Credit Cards for 0% Balance Transfer This Winter

Credit Cards Balance Transfer

Millions of Britons find that Christmas spending really puts the pressure on their finances. In some cases, spending on a credit card will lower your overall bill such as with the Amex Platinum. This will give you 5% cash back on your first ?2,500 spend within the first 3 months, for example. What most people need is a balance transfer that lets them pay down the debt comfortably without attracting interest. Today we will be looking at the top three UK credit cards that allow you to do this. The representative APRs are based on an assumed credit limit of ?1,200 and are only offered to 51% of customers.


#3. Lowest APR and Transfer Rate: MBNA Everyday Card

Of all the cards on offer, the MBNA Everyday card offers the lowest handling fee on balance transfers of just 1.5%. This gives you 0% on balance transfers for 18 months from the date you open the account provided you transfer your balance within the first two months. The only other credit card that offers such as low handling fee is the Lloyds Bank Platinum card which gives you 0% balance transfers for 24 months.


Transferring ?1,200 to an MBNA account would cost ?18, leaving you with a manageable ?67.6 monthly payment to clear the debt in 18 months without attracting interest. A key benefit for the MBNA Everyday card is that it offers 0% on card purchases for eight months from the date you opened your account and a low 13.9% p.a. variable on card purchases thereafter. This is much lower than the 17.95% p.a. on offer from Lloyds and makes the MBNA a good choice for spending over the longer term.


#2. Longest Balance Transfer: Barclaycard Platinum Credit Card with Extended Balance Transfer

If having the longest balance transfer period is a must for you, this card gives you an unbeatable 29 months to pay down your debt. Initially they will charge a 3.5% handling fee but then reduce this to 2.79% by a refund as long as you meet the minimum payment on time each month. This card gives you 0% interest on balance transfers for longer than any other card on the market.


If spreading out your debt into the lowest possible monthly payments is essential, the Barclaycard is the best option for you. Transferring ?1,200 of debt to this account will cost ?42 initially but you will be refunded ?8.52 provided you made minimum payments. You could then spread the debt of ?1,233.48 over 29 months leaving you with a low monthly payment of ?42.50. This card also offers 0% interest on purchases for six months from account opening but card purchases attract an 18.9% APR thereafter.


#1. Lowest Handling Fee and Longest Transfer Rate: Barclaycard Platinum

There are many cards on the market that offer 0% on balance transfer for 28 months including Barclaycard, NatWest, Tesco, RBS and the Halifax. While the MBNA Platinum gives you 0% on balance transfers for 27 months for just a 2.39% handling fee, Barclaycard Platinum gives you 28 months for the same fee. This is the lowest handling fee for any balance transfer of that duration.


Assuming a ?1,200 transfer, you will be charged a ?28.68 handling fee and have 28 months to clear the ?1,228.68 debt. This will give you a manageable monthly payment of ?43.88. The only word of caution is that this low fee is subject to you making the minimum monthly payments on time. Should you be unable to do this, the handling fee will revert to 4% meaning the amount you will pay overall will increase.