May, 2018 | Teja Consulting

14 May, 2018 By Kalel Ventura

How to Get a Good Mortgage Deal

Shopping for a mortgage deal can be quite challenging. You need to make sure that you look for a good mortgage rate so that you get value for money. When you get a competitive deal, you will end up saving money and paying less than the current market rate.

The real estate market is quite competitive, and a lot of external factors drives it. When looking for a mortgage, the bank rates will determine the type of rate that you get. Here are tips to help you in getting a good mortgage:

Improve your Credit Score

Improving your credit score is the best way to get a good mortgage deal. When your credit score is good, it will be possible to negotiate for a good credit mortgage rate. Before you start shopping for a mortgage, it is advisable that you take time to repair your credit.

Repairing your credit means that you should pay all the bills on time and make sure that your credit reflects a good amount. One year before you take your mortgage, make sure that you have a good score. With a good credit score, your options for lenders will be wide.

Diversify your Options

It is important to diversify your options when searching for a mortgage. Do not just take the first mortgage that is available to you. Make sure that you check as many mortgage lenders as possible before you make a choice.

Using a mortgage broker might be the only way to get a good rate. Most of the brokers know all the lenders in the market, and they will help you in narrowing down your options to get the best deal.

Raise Enough Deposit

Raising enough deposit is the best way to negotiate for a low rate. When you raise a high deposit, it will translate to low deposits and interests. Raising deposits is usually a challenge, but once you raise enough deposit, you will be surprised at how the interest and installments will be easy to raise.

Check for Fees

When shopping for a mortgage, many people tend to look at the interest rate. Unfortunately, that is not the right way to go about it you need to make sure that you look for other fees. Most of the lenders have hidden fees that cannot be explained. If you the lender has a lot of hidden fees, it will end up increasing the fees drastically.…

14 May, 2018 By Kalel Ventura

Financial Challenges for Small Business

Small businesses face a lot of financial challenges. It is important to learn how to solve the problems and grow the business. The reason why many businesses do not go past their first anniversary is due to financial business.

Having a passion for the business is one thing but learning how to beat the financial challenges is a whole different story. Before you start any business, it is important first to know the financial challenges that you are likely to face. Here are some challenges that businesses face and their solution:

Low Profits

Low profits are a big financial challenge to much business. It is one thing to make profits, but it is another thing to make profits that are sustainable. When it comes to profits, it is important to make sure that the profits are sustainable. You need to remember that you need cash to pay for rent, employees and also cover your overheads.

If you feel that the profit that you are making from your business is not sufficient, then it is time to make sure that you look for the areas of your business that are taking too much money. You need to reduce your expenses so that you can make reasonable profits.

Lack of Money for Daily Operations

Apart from having the cash for stock and rent, you need to make sure that you also have money to maintain daily operations. You will need money to pay for daily expenses, and there is no better way to do it than having a cash reserve for daily operations.

Being unable to maintain daily operations means that you need to look for a way to get the extra cash. You can do this by streamlining the methods of payment to make sure that cash reaches your business as soon as possible.

Irregular Cash Flow

Irregular cash flow might be a big problem to business. You need to make sure that your cash flow is good so that you can meet all your expenses. If your business has problems with cash flow, the debt might be the problem. You need to make sure that you are paid for the goods or services in time to avoid problems that might occur due to delayed payments.

Bad Debts

Bad debts are a challenge to small business. It is advisable to operate on cash basis especially when starting your business. As your business grows and you build trust with your customers, you can offer goods and services on credit without affecting the business.…