Thursday, June 14, 2018

All you need to know about top-up personal loans

time for personal loan
Thinking of getting a top-up on your existing personal loan? Most lenders provide applicants with top-up personal loan offers, usually after completion of a particular period in the tenure. Depending on your repayment history, you can get a much-reduced interest rate on your top-up personal loan. Besides, you can also alter your tenure when you opt for a top-up.

Top-up personal loans can help a great deal if you need urgent access to funds. While a normal loan usually takes about 6-8 business days to reach your bank account, a top-up on your existing personal loan will take just about 24-48 hours to get disbursed. So, if you’re facing an emergency, a top-up loan is easily your best bet.

Things to know before applying for a loan top-up

Before you get your top up personal loan offer from your lender, here are certain things that you should know.

Having a Good Repayment History

A good repayment history with your current lender is crucial to get your top-up loan approved. The importance of this point can of course, not be understated. Perhaps the most dominant parameter that influences the approval/rejection of your top-up loan application is your repayment history, for this is the only way the lender can assess your ability to repay. So, if you wish to apply for a top-up, make doubly sure that your repayment history with your lender is neat.

It sure does look like it when you apply for a top-up, but not quite it yet.

Your Credit Score

Your credit score (a score out of 900 that indicates your credit worthiness) should also be at an acceptable level if you wish to get a top-up on your existing loan. Note that your repayment history is a crucial parameter that impacts your credit score. There are of course other parameters as well – your monthly debt to income ratio, your Credit Utilization Ratio and the number of debt sources in your name. While such is the case, in case you have a long relationship history with the lender and your repayment history has been impressive with just a handful of instances of overdue payments (note that there should be no instances of defaults), you can get your top-up personal loan approved even if your credit score has taken a hit.

There isn’t an ounce of doubt whether it is possible to avail a personal loan or not. There is no other objective to getting a top-up than while fighting an emergency.


Most lenders allowing you to apply for top-up loans require you to be actively employed with a stable source of monthly income coming your way. This of course makes sense, as lenders need to know that you can make monthly repayments towards your loan. To determine this, lenders will ask for your most recent income documents – it doesn’t matter even if you’ve switched jobs and just started work with a new employer.

Altering tenures

Lenders allow applicants to alter tenures when they provide them with personal loan offers on top of existing loans. As an applicant, you can choose a tenure based on your repayment capacity. Longer tenures attract lower repayments while shorter tenures have comparatively higher repayments. However, opting for a short tenure would mean lesser payment towards interest, while longer tenures attract higher interest payments.

Sunday, April 8, 2018

Essential Tips on Getting a Title Loan

title loans for car
Understanding What Title Loans Are

A title loan is an alternative for people who have less than stellar credit scores but are in need extra money. You don’t need to provide a reason for why you’re borrowing money. You don’t even need to give your credit history. All you need is to give the title of your car as security for the loan.

Title loans are available in most cities and states. For example, you can get title loans Lancaster CA. There are also several lenders in Texas.

Auto title loans are interchangeably referred to as car title loans or simply, title loans. They are categorized as collateral loans. Here, you use the title of your car as a security. Your loan value will vary depending on the value of your collateral or security. The loan value is typically pegged below the appraised value of your collateral, usually at around 50% of the collateral’s value.

Title loans are short-term loans. And the loan value of these loans is small. They range from a few hundred to several thousands. This is why the application process is not stringent. You can get approved in as quick as one day.

Acceptable Vehicle Types

Auto title lenders offer a variety of loan options. They accept almost all types of vehicles. The more common types are the following:

1. Cars. This is the most popular type of vehicle used as security. You most probably have is the type of vehicle. This is because this is what the average consumer would own. Thus, it is the easiest to provide.

2. Motorcycles. Motorcycle owners can also avail of title loans. Two-wheeled vehicles are also accepted as collateral.

3. SUVs. Short for Sport Utility Vehicles, SUVs, are also popular among Americans as their choice of vehicle. It provides more room than a car without sacrificing convenience for everyday use. Your valuation will depend on the make and year of your SUV. A newer SUV will likely give you a higher loan value.

4. RVs. Recreational vehicles are available in different classes. Regardless, they all have cabins which are good as a temporary space. They’re also good as collateral for title loans.

5. Trucks. Business owners who use trucks for their transporting needs can use them as security for title loans. If you’re one of them, you might consider this the next time you need additional funding.

The types of vehicles you can use as security in a title loan are not limited to these five. These are simply the ones generally used. If you’re not sure whether you can use your vehicle’s title as security, then do not hesitate to check with your local title lender first.

Who Should Get A Title Loan

If you have a bad credit score, then this might be the loan for you. Traditional loans from banks and other lending companies require background checks and even securities. After they look into your capacity to repay them, then that’s just when they finally approve your loan.

However, if you do not want that hassle and do not have the time, then just get an auto title loan. It’s the easier way to obtain a loan for those own a car and have an immediate need for some cash. They won’t even inquire your reason for taking a loan out.

You’ll want to pay it back though as soon as possible. Title loans are more convenient to get. But they also charge higher interest rates as a result. This is the price of having less requirements for approval. As long as you pay back your debt when it matures, you won’t have any problem.

Choosing Which Title Lender to Borrow

From Research your options before you commit to any title lender. Understand what the costs of borrowing will be and if you can afford them. There are a lot of companies that offer title loans depending on your area. And chances are, they will not be giving you the same loan value for the same car. Or offering you the same interest rate and payment scheme for the same amount of loan.

It may also be important to know the application and approval process of each title lender. Find one which is genuinely quick and easy. And delivers on their claim of not checking your credit score. Some applications even only take five minutes.

Weigh your choices. And then choose which one is best for you. Of if getting one at all is the right decision.

As with any debt, what’s important is that you eventually pay back your loan. Be mindful of the refinancing charges too. You’ll have to pay these if you can’t pay back your loan on maturity date – the date when the lender can demand payment from you. Interest rates are also higher in title loans, so you don’t want that accumulating.

Title loans are great for emergency cash needs. They don’t take long to get and don’t necessitate much for approval. But always remember to assess your situation before you borrow. This way, you end up getting the best solution for your financial problems.

Saturday, April 7, 2018

A Detailed Analysis of Top 3 Singapore P2P Lending Platforms For Investors in 2018

business investments
Have you encountered a problem with financing your business, household or daily activities? Have you tried borrowing money but was unsuccessful? Borrowing and lending money have been made easier by the peer-to-peer (P2P) lending platforms. This emerging method allows more significant connection between borrowers and investors.

Today, everyone deserves hassle-free transactions and more opportunities to try. A licensed money lender is made available to help people solve their financial problems more efficiently. It could help them achieve their dreams without overthinking about the finances they would need to start.

What is New About P2P Lending Platforms?

With P2P lending platforms, people are now allowed to borrow and lend money without the need of financial institution. The investments in P2P are less volatile and have been able to provide higher returns than the existing sources familiar to people. P2P lending platforms have not only helped clients who are in need, but this has also served as a source of income for inventors.

Some countries have tried to engage in P2P lending platforms. One of the countries that have been interested in applying this to their daily activities is Singapore.

P2P Lending Platforms in Singapore 

Singapore has been very eager in increasing its activity regarding P2P lending platforms to provide better services and aid people with their day-to-day operations. There have emerged some lending platforms that offer attractive returns for investors. There exist payouts if managed well that are made on a monthly basis that would benefit those who have invested.

Lending platforms in Singapore have been trusted by many investors and other citizens who needed financial aids to improve not only their business but for their dreams. Singapore, like countries in US and Europe, is one of those countries engaging in P2P lending platforms.

What are The Top 3 P2P Lending Platforms in Singapore?

The top 3 alternative finance players in providing loans for small and medium-sized enterprises (SMEs) in Singapore are as listed:

Funding Societies

Funding Societies is a moneylender that is licensed by Monetary Authority of Singapore (MAS).

This moneylender operates not only in Singapore but even in Malaysia and Indonesia. It is the first peer-to-peer lending platform that used government-registered escrow. As of 2018, it already has a total of 2,642 approved loans and with about 126.58 million SGD amount disbursed.

In 2017, Funding Societies has been included in the Fintech 250 list that is a group of emerging private companies working on the groundbreaking financial technology. It has been the only Southeast Asia P2P lending company that has been included in the list.

In the same year, Funding Societies has won the Best Customer Experience- Financial Service Providers at the 3rd annual Financial Services Summit and Awards 2017 held in Singapore. Funding Societies has been one of the most respected and recognized money lenders in Singapore.


MoolahSense holds a Capital Services License regulated by MAS. In 2018, they have a total of 13,000 plus registered investors, 400 plus completed campaigns and about 50 million SGD total funding.

MoolahSense has been known to offer business loans ranging from 50,000 SGD to more than 5 million SGD in size. They can provide this loans quickly up to within three business days. It offers different interest rate types such as equal installments, interest only, etc. that allows greater flexibility to small and medium-sized enterprises.

MoolahSense aims to help people grow wealth by financing business across industries and at the same time earn adjusted returns. Application with MoolahSense is fast and can be accomplished online for only around 5 minutes. All an investor has to do is to register, start investing and monitor investments. For borrowers, they have to record, continue with the application process in coordination with the assigned team and then track the funding.

Capital Match

Capital Match is a licensed money lender that makes short-term business financing simpler. Capital Match provides business and SME loans and invoice financing facilities of 50,000-20,000 SGD, in a term of 3-12 months. Approval of loans offered by this moneylender is only within days. This moneylender has been established in 2014 and has already provided 62 million SGD loans as of December 2017.

How to Choose the Best P2P Lending Platform?

You might have been interested in engaging with a licensed money lender. To help you choose the best P2P lending platform, here’s what to remember:

Minimum Loan Amount

Consider the minimum loan amount to invest in starting. Minimum loan for Funding Societies is $100, $ 500 for MoolahSense while $1,000 for Capital Match per facility.

Service Fee

Consider also the service fee involved. Funding Societies charge 15% of the interest earned; Capital Match costs 20% of the benefit received that will be charged after the repayment is paid. On the other hand, MoolahSense has no service fee.

Types of Loan Offered

There are two types of loans available, Business Term Loans and Invoice Financing. The former spans across a year or two and this is what loans businesses get to expand. It is most commonly requested by Singapore SMEs.

On the other hand, the latter allows companies to finance slow-paying accounts receivable in two ways. First is through sales wherein invoices can be sold to companies in exchange for immediate payments while the second one is through receivables that are used to ensure a line of credit through asset-based plans.

Funding Societies and MoolahSense have both types of loans while Capital Match offers only Invoice Financing.

Reasons to Invest in P2P Lending Platforms

The question most interested individuals or parties would ask is why to invest in P2P lending platforms. These are the reasons behind:

Higher Returns

As compared to many traditional investment products, peer-to-peer lending platforms can provide higher returns. Returns among these platforms in Singapore can provide up to 14% yearly returns.

Short Waiting Period

The tenure of the loans in these lending platforms range only to less than one year while other insurances take longer. Moreover, the interest and the principal amount can be returned monthly which provides investors more options such as reinvesting or other transactions that are more beneficial.

Low Minimum Loans

One does not need plenty of money to be able to start investing. As described earlier, minimum loans range only from 100-1,000 SGD. With these minimum loans, it provides opportunities for literally anyone to spend.

Trusted and Proven

Top P2P lending platforms in Singapore have been proven and trusted by many investors. They have been licensed and regulated by MAS. Funding Societies has already expanded, reaching Malaysia and Indonesia. It has even been recognized as one of the Top 250 Fintech Companies. Other money lenders have also continued to develop and grow.


Peer-to-peer lending platforms in Singapore have continued to grow and help companies and individuals regarding finances. Money lenders serve as an aid that benefit not only the borrowers but even the investors. In Singapore, top licensed money lenders have continued to operate and succeed to be recognized not only in Southeast Asia but also in the world. Indeed, a moneylender serves as a partner towards success.

Friday, April 6, 2018

5 tips to buy a Luxury Real Estate

luxury real estate properties
There is not a precise way to define a luxury property; they encompass a wide range of style, setting, size and design. From an indulging tropical home in front of the sea to alavish condominium in the center city, luxury real estate has been hitting records across the United States in the past few decades.

Now, the process of buying a luxury home may not be that idyllic as the home itself if the buyer rushes through a purchase not having full knowledge of everything involved. There are many details totake into account as it represents a BIG long-term investment that one should undertake with full knowledge of everything involved.

Here are five essential strategies for ensuring peace of mind when buying a luxury home:

1. Right timing for your purchase

This goes simple to the fact of supply and demand drive prices. If your goal is to go high-end without going bankrupt, look to the off-season—which, in most places, is winter. Why is this? When there's less demand, you usually stand to get a reasonable good price.

2. Mortage

Try not to bite off more mortgage than you can safely chew. Do your due diligence. With mortgage interest rates as low as they are, borrowing money to purchase your luxury home while at the same time using your cash in different higher rate of return investment may make sense for you.

3. Choose the right Location

Choosing the right location is essential regarding impacting taxes, schools, drive time and more it is best to take time to research the different communities that have luxury homes available and to be sure to explore those neighborhoods both online and offline by walking/driving the neighborhoods.

4. Look for foreclosure listings

One of the ways to buy a luxury home for as much as even 15% below its actual valueis hunting for foreclosed properties. While there's a myth that foreclosed homes can be purchased only with cash, roughly 60% of foreclosed homes purchased are actually financed.

5. Find a qualified real estate agent/broker

When you buy a luxury home you have to bear in mind that not all properties go listed, this in order to protect the seller’s privacy and property. That’s why you should hire an expert. Luxury real estate agents and brokers know the luxury market and have connections. They know how to find the right homes, what prices are fair, and how to smoothly handle a luxury real estate transaction.

Meanwhile here we feature five luxury homes currently on the market that you may want to take a look at:

With 40-stories high, BristollBrickell delivers the most breathtaking views of Biscayne Bay. The building has just 147 residences so you know you’ll enjoy some of the largest floor plans around, along with expansive city and bay views.You can find units at the low $445,000.

This spectacular residential masterpiece has redefined luxury living in the vibrant South of Fifth district of Miami Beach with its gigantic condo units, upgraded residential features and spacious balconies that overlook the Atlantic and Biscayne Bay. Units star at $1 M.

One of the first luxury condominiums to be built on South Beach, South Pointe is set just a few steps from the Atlantic Ocean in the South of Fifth (SoFi) Street district of Miami Beach. This imposing tower delights with its stunning units and penthouses facing the water. Units range from $849,000 to $2.6 M.

This high-end boutique building will be located in the heart of sought-after Sunny Isles lying on the most striking beachfront line, between the coastal waterways and the Atlantic Ocean, so expect the most awe-inspiring vistas. Find units from $4.7 M.

Amazing views, stunning marble finishes handpicked by architect Carlos Ott and high-end appliances, just a couple of the details that the penthouses in the Echo Brickell building will offer. Also, a full floor infinity-edge pool with panoramic views of Biscayne Bay and Downtown Miami will amaze you. These units start at $ 4, 8 M.

Friday, March 23, 2018

What You Need To Know About Bridging Loans

property investments
Bridging loans are actually a relatively simple form of financial instrument.When used correctly, a bridging loan can be a fantastic way of facilitating a property purchase that might otherwise be unavailable to the buyer. Of course, they aren’t right for everyone and there are some alternatives on the market that may be a better option. Bridging finance should be treated as a short-term solution and can be more expensive than a traditional mortgage, but with these costs and risks comes the potential to unleash possibilities that wouldn’t be available with other types of finance.

Bridging loans remain popular with borrowers because of their ability to ‘fill the gap’ between the purchase of a new property and the sale of an existing one, or simply if capital is needed quickly. A classic problem for buyers is that their capital needed for the purchase is locked up in an existing property. A bridging loan is a short-term borrowing facility that provides the borrower with the capital to help complete on their new property, which is then later repaid when the old property is successfully sold.

Bridging loans aren’t just used by traditional buyers. Bridging finance is often used by landlords and property developers looking to buy property at auction, where quick access to finance is needed to secure purchases. These buyers will normally use bridging loans, at a higher rate than a mortgage, to secure quick funds, and then look to re-mortgage the property later. Of course, if a developer is looking to buy a property, renovate and then sell on quickly, bridging finance could be a fantastic option for borrowing that can be easily repaid once the renovated property is sold.

For more ‘standard’ buyers, bridging loans help grant access to deals that would be impossible otherwise due to funds being tied up in their current home. To use an example, let’s say a couple owned a home worth £250,000 with a mortgage of £150,000. They want to move to their new dream home worth £400,000, but the vendor will only sell based on contracts being exchanged within a month and completion within 6 weeks. In this timescale, a sale of their current home is unrealistic, so bridging finance can be used to help fill the gap. The bridging company would lend the couple the funds to purchase the new home, and once their existing property has sold and the mortgage repaid, the equity that remains would be used as a deposit for a mortgage on the new property. Once the mortgage is arranged, this capital would be used to repay the bridging loan.

Of course, the example above does not come without risk. Borrowers need to ensure they are aware of the interest rate they will be paying, and are reliant on their existing property selling at a viable price. If market conditions change the borrowers could be left unable to sell their existing property and with both their existing mortgage and the bridging loan to repay.

For the reasons above, bridging finance should always be treated as a short term borrowing solution. Rates will be higher than a traditional mortgage, so it’s important for the borrower both to keep up with the repayments and refinance onto a lower rate product as soon as the sale of their old property has been completed.

Bridging finance can be secured in a number of ways. Lenders vary in size and style, and in recent years the rise of P2P or crowdfunded lending has also opened up another source of funding for potential borrowers. In all cases, it’s always sensible to look for an accredited source of funding, which in the UK will be in the form of FCA approval. Bridging finance companies are normally adept at working quickly, the product relies upon fast approval and capital being made available to borrowers in short time frames.

In the right situation a bridging loan is a powerful product that can help the borrower secure property that would otherwise be unavailable to them, but they aren’t without their risks or alternatives so it’s important to take a balanced view on their use. A bridging loan can help secure a dream home for a family or a desirable project for a developer, so when used correctly they are a useful option to add to the toolkit of options available to borrowers.

Monday, March 12, 2018

Know How High Blood Pressure Affects You and Your Insurance Plan

insure your health care
In today’s fast-paced world, the number of lifestyle diseases is on the rise. Contraction of high blood pressure, one such lifestyle disease, is witnessing an increasing trend in India. Such a medical condition may have an impact on your quality of life. Besides, it may also affect your chances of obtaining a health insurance policy.

Effect of high blood pressure on your health

Consistent high blood pressure, sometimes referred to as hypertension, has numerous effects on the human body, if left uncontrolled. Following are a few complications that may arise due to hypertension.

1. Damage to the heart

A rise in blood pressure may result in coronary heart disease as well as heart failure. Besides, it may also force your heart to work harder so as to pump blood to the rest of the body, thus causing the left ventricle to stiffen. This, in turn, increases the chances of heart attack or cardiac death.

2. Damage to the brain

Not keeping your high blood pressure under control may result in weakened blood vessels of the brain. It may also cause blood clots in the arteries, thereby resulting in a stroke. Besides, hypertension may also result in dementia or mild cognitive impairment.

3. Damage to the kidneys

Hypertension may cause damage to the arteries that are present around the kidneys. It may lead toan interference with filtering blood effectively, which may result in kidney failure. Uncontrolled hypertension may also cause glomerulosclerosis or renal artery aneurysm.

Besides the aforementioned effects on health, a spike in blood pressure may cause vision loss, angina (chest pain), peripheral artery disease, and nerve damage, among others.

Effect of high blood pressure on insurance

In order to shield yourself from any hospitalization expenses that may arise due to hypertension, you may invest in health insurance for high blood pressure. However, those opting for a high blood pressure health insurance policy need to keep a few aspects in mind.

• High premium

Health insurance companies consider existing diseases as a parameter for selecting premium rates. Having high blood pressure may, therefore, result in an increase in the rate of premium. These high premiums are charged so as to offset the various risks caused by hypertension. Hence, those suffering from this medical condition may have higher expenses associated with medications and regular consultations from their doctor.

• No coverage

While some health insurance companies may decide to increase the premium rates, some may exclude coverage for your blood pressure condition. Besides, any ailments that develop in the future as a result of your high blood pressure may be excluded as well.

Ultimately, it is the decision of the insurance provider to charge a higher premium or to exclude your ailment. Also, some insurance providers may offer health insurance for high blood pressure patients with a certain waiting period, wherein patients may avail of benefits upon completion of the specific waiting period.

Taking adequate measures

You may take necessary steps in order to reduce the risks associated with high blood pressure. Taking the required measures will also help you avail of lower rates on high blood pressure health insurance premiums.

You may take your medication on a regular basis so as to control your high blood pressure. Besides, you may adhere to a healthy diet that reduces your intake of fat and sodium. You may also keep a control over your weight. Most importantly, you may try to maintain a stress-free life. Given that stress is one of the major reasons that cause high blood pressure, you may resort to meditation and other forms of relaxation.

Chances are that your insurer may offer limited coverage of health insurance for high blood pressure levels. Therefore, following a healthy diet and lifestyle will not only keep various health-related issues under check, but also result in lower insurance rates.