Lake Malawi-African great lake

 Lake Malawi, which is also known as Lake Nyassa in some of its housing countries. The lake is shared by several countries. It is a rift formation on Africas East Rift system. The southern end of the rift is where the lake formed. Malawi is the third largest lake in Africa and the eighth largest known in the world today. Mozambique, Tanzania and Malawi share the lake; of course Malawi is where the majority of the lake is located as the country also gave the lake its most well known name after the country. In Africa it is the second deepest lake with a depth of 2,365 feet to the deepest point known. The Northern end of the lake is very shallow though and by treading the waters there is really no way to tell that it is so deep at least in the north end. The lakes tropical climate makes it home to numerous species of fish and marine life giving it the record of being the most diverse freshwater body on earth.

Venture-Capital-Backed Company Loans:Businesses MONEY Borrow

This bank-based lending source - although limited to a small group of qualifying companies and usually geographically concentrated in California and the Boston area - has significant benefits for qualifying companies. This arrangement allows companies with previous backing from venture capital companies that have established relationships with certain banks to access bank lending based primarily on the bank's reliance on the due diligence done by the previous venture capital firms.

The benefits of these loans to borrowers are access to bank lenders previously unavailable to the company, quicker access due to the pre-screening by the venture capital firm and access to bank financing with a higher risk threshold than a stand-alone bank loan.

This bank lending comes with a high interest rate and probable future stock warrant coverage requirements, which allows the lender to purchase shares in the borrowing company at a future date at a specified fixed price or a price under current market price at the time of purchase. It is also currently limited to a small percentage of borrowers. (For more on how venture capitalists operate, read Cashing In On The Venture Capital Cycle.)

Margin Buying.

If you have some equity in a brokerage account, you can apply for a margin account. Generally, you can borrow up to 50% of the value of your account to invest. In the 90′s, I signed up for a margin account because everyone I knew was making a bunch of money from tech stocks. It was great for a couple of years and paying interest wasn’t a big deal when the stocks were doing well. Once the dot com bubble popped though, the margin call came in. If the value of your account is not enough to cover your margin position, you have to add more money to your account or else your stock position would be sold. This locks in your loss and drives the market down further. So I learned my lesson and stayed away from the margin account ever since.

Benefits of Hedge Funds

A successful hedge fund provides steady returns in any market environment. An investor increases portfolio diversification by including hedge funds, as these funds execute many trading strategies with returns that are not closely correlated to returns from the stock and bond markets. Foreign investors can benefit from tax advantages provided by offshore hedge funds operating in tax-free havens such as Bermuda and the Cayman Islands. Hedge funds can give investors access to private investments not available to the general public.

How Leverage Works

When an investor or a fund borrows money to invest in a given asset and invests that money along with its own money, returns are magnified. For example, if the fund invested $1 million in XYZ stock and borrowed $1 million to invest in XYZ, and XYZ rose by 10 percent, then the investor would actually realize a 20 percent return, disregarding the costs of carrying the loan. But leverage works both ways: If XYZ lost 10 percent, the fund would lose 20 percent, since the loan must still be repaid in full. If XYZ loses 50 percent, the fund's investment in the company would be wiped out.

BORROWING TO BUY SHARES.

You know that stocks have returned an average of 17 to 18%. So you borrow some money at 9% interest and invest that amount in stocks. Until you realize the profit, you’ll pay interest or EMI from your pocket.Anyway you look at it, it’s going to be profitable. How about that? If you are planning to do something like that – you’re at the right time reading this article. Calculations on paper may show that it is practical. But in real life, such strategies are extremely risky. We advice not to leverage (that’s the financial term for using borrowed funds) your investments in any form. It’ not a good idea at all. There are three perils waiting for you when you leverage –

• It multiplies your risk.
• Even when the value of your holdings go down, you have to pay your loan installments. The effective cost you pay is very high.
• There will not be any peace of mind. Guaranteed!

Is borrowing to invest right for me?

Ask yourself these five questions:

1. Do I understand how borrowing to invest works?
2. Am I comfortable with the risk in the investments I want to make?
3. How much interest will I pay each month? How does that compare with what I hope to make from my investment?
4. If interest rates rise, will my costs increase? Will rising prices reduce what I make on the money I borrow?
5. What if I lose some, or even all of the money I make with the borrowed money? Can I afford those losses? Will I be able to pay back what I borrowed from my savings?

Himalaya Glimpse-Bhutan

Himalaya Glimpse-Bhutan

What is a deposit bond and how do I arrange one?

When you buy a home you'll often have to pay a deposit on your purchase, with the balance payable at settlement. To help you with the payment of your deposit we can provide a Deposit Bond to the seller on your behalf.

This acts a guarantee from the Bank to the seller saying that you will pay the deposit at settlement. Any of our lenders can help organise a Deposit Protect Bond for you.

Different types of mortgages

When it comes to choosing a mortgage your choice is essentially between a variable rate - one that can change - and a fixed rate, which will not change for a certain period of time.

Tracker and variable rates

There are typically two types of variable rate mortgage: trackers and discount / standard variable rates.

Tracker mortgages mirror the movements of the base rate, the benchmark interest rate set by the Bank Of England. They will rise or fall in line with changes in base rate, usually at a level above it.

Standard variable rates (SVRs) are set by lenders and each lender has it's own one. These are usually influenced by the base rate but can change independently of it and vary quite substantially. Banks and building societies used to widely offer mortgages set at their SVR but these are much less common nowadays, however, borrowers will typically move to an SVR once an initial deal period on a mortgage ends. Once on it usually there are no major penalties for paying up early.

A discount rate mortgage will follow moves in a lender's SVR. Unlike a tracker it can therefore move independently of base rate.

Fixed rates

With a fixed rate your interest rate and thus payments will be set for a period of time. This could be for two, three years, or five, or even up to 10 years. The rate you pay will not change during this time, but will revert back to the lenders standard variable rate after it finishes. This is often a good time to look for a better deal.

The deposit in a Mortgage

Since the financial crisis, mortgage lenders now insist on a minimum deposit of 10% of the property value. Some mortgage lenders previously offered 100% of the purchase price or valuation (whichever is lower), although these are now obsolete. A handful of 95% mortgages are still available, but they will involve parents, e.g. they have to be a guarantor or hand all their savings over the lender.

Manage your debts

There is no doubting the convenience of credit cards when you are running a little short. They're handy to use and accepted almost everywhere. While it's surprising just how easy it is to get one, it's not so surprising to understand that there are a lot of people out there that cannot manage and reasonably afford to use a credit card.

But do you really need one? If so, how many are you using? And what about personal loans, car loans and interest free purchases? Face it, without credit you wouldn't own half the stuff you do but on the plus side, think about how much bigger your deposit would be if you hadn't spent all that money on consumer goods.

Remember, you can't save effectively if you are paying off debts. So cut down on those credit cards, consolidate your debts and do everything you can to become debt free. For tips on debt management see our article "xxx" starting on page xx.

Avoid investments when saving for a mortgage deposit

The key to saving for your deposit is to make the most of every penny you save. With savings rates still at record lows, you may be tempted to put some of your money onto the stock market to try and achieve a better rate of return.

However, when you invest your money, you put it at risk of falling in value. You'll have the potential to make better returns than the bank, but you could do much worse. It’s unwise to put your deposit savings at risk as it may take a number of years to recover from any falls in the stock market, setting back your plan to get on the property ladder.

The risks of 100% mortgages

The biggest risk of 100% mortgages is that you will instantly be in negative equity - owing the bank more than your property is worth - if house prices fell. 

In the good old days of the property boom, lenders provided 100% loans or more to people to people on lower incomes, banking on increasing property prices to quickly reduce the loan to value. When the property bubble burst in 2007/08, thousands of borrowers were faced with the prospect of negative equity, high repayments and the risk of job loss as the wider economy faltered.

95% mortgages - lending criteria

Before the property crash of 2007/08, you were often able to take out a 95% mortgage and borrow up to five times your salary. In the current environment, lenders have a much stricter criteria.

Good credit record
You need a clean credit file, with a good record for paying bills, rent and other borrowing, like loans and credit cards, on time. You should make sure you're registered on the electoral roll.

Sufficient income
Even if you have the minimum 5% deposit required for a 95% mortgage, you still need to have sufficient earnings to qualify for the loan. As a broad rule of thumb, banks and building societies will lend you between three and four times your salary if you're buying a property on your own, and 2.5 times your combined salary if you're buying with a partner.

So, if you want to buy a home valued at £200,000 and have the required £10,000, 5% deposit, you'd probably need a salary of around £48,000, or a combined salary of £76,000 for a couple.

Affordability testing
In reality, few lenders use crude salary multiples to approve loans. Instead, most banks and building societies look at how affordable the loan will be for you, taking into consideration all of your income and outgoings and other debts.  

Deposits for the best mortgage deals

To get the most competitive mortgage deals on the market you will usually need a deposit of 25% upwards and some of the best deals require 30% or even 40% deposits.

For most first time buyers, getting a deposit together this big will be unrealistic so you may want to look into alternative ways of funding your home purchase. Things worth considering are shared ownership and shared equity schemes, buying a property with friends or getting first time buyer help from your parents or family offset mortgages.

Kayangan Lake - Coron Palawan - Philippines

A beautiful and quiet place to snorkel and swim in is the Kayangan Lake in Coron Palawan.  With an unforgettable atmosphere of crystal clear waters and paradise-like surroundings, this place is a must to visit when you are in Coron.

Kayangan Lake Coron Palawan

Entrance to the place is already breath taking.  Your boat will enter and dock from the rear part of the island.  To reach Kayangan Lake will require about 10 minute hiking to the other side of the island.  The terrain is pretty steep but not to worry, all this is worth when you get to the other side.  There are also 135 steps/stairs that will guide you to the other side.  Be extra careful one wet days where these steps can be very slippery.

The Tretyakov Gallery in RUSSIA

The Tretyakov Gallery in Moscow is one of the largest museums in the world. Its exhibits span collections from the 10th century to the 20th century, providing a close look at how Russia developed from its early years to how it stands today.

The gallery was named after Pavel Tretyakov, the museum’s founder. Tretyakov, an affluent Moscow merchant in the 1850s, had a patriotic passion for collecting historic Russian artifacts and paintings. He housed his collections in his estate in Lavrushinsky lane, which is now the Tretyakov Gallery.

The Tretyakov Gallery is now a very important center for science, art, culture, and education in Russia. Its abundant and valuable collection of Russian icons, paintings, and sculptures is rich with history. Who would have thought that all this started with just a merchant’s patriotic hobby?

Lake Baikal - World's Oldest and Deepest lake

In the Russian region of Siberia, you’ll find Lake Baikal, the world’s oldest lake, with a geologic age of 30 million years; the deepest lake, with a 744.4-meter average depth; and one of the clearest lakes as well.

In addition, Lake Baikal also holds the title for being the second most voluminous freshwater lake in the world, holding 20% of the world’s total unfrozen fresh surface water. With so much clean water in it, it is naturally an area of rich biodiversity, with 1,085 plant species and 1,550 animal varieties, 80% of which are endemic to the area.

Lake Baikal is also home to the Buryat tribes with their goats, sheep, cattle, and camels.

In 1996, Lake Baikal was declared a UNESCO World Heritage Site, and in 2007, it was declared a special economic zone.

Airplanes rolling over highway

Airplanes rolling over highway at Leipzig-Halle Airport in Germany 

Daibutsu at Kotokuin, Kamakura-Japan

It was cast in 1252 and stands more than 13 metres tall. It is the second largest Buddha statue in Japan, the largest being the one in Todaiji temple, Nara. More information on Kotoku-in is here
 

Daibutsu at Kotokuin, Kamakura. The magnificence of the Great Buddha is surrounded by the charm of cherry blossoms

Hasedera Temple-Japan

Hasedera Temple is located in the mountains east of the Asuka region. The temple was founded in 686, and now serves as the head temple of the Bunzan school of Shingon Buddhism. Situated in a valley, Hasedera has over 30 buildings built up along the hillside that visitors can spend a long time exploring. The main hall is at the very top and offers a great view of the surroundings from its balcony, particularly during the cherry blossom (sakura) and autumn color (koyo) seasons.

Jizo statues representing the souls of miscarried, stillborn or aborted children.

The approach to Hasedera consists of a small temple town, whose restaurants and merchants have been catering to temple visitors for centuries. At the base of the temple is the Niomon Gate with statues of guardian deities housed within. A long corridor with almost 400 steps leads up to the main hall, passing a variety of other buildings along the way. From the top, the view can be breathtaking, and during cherry blossoms or autumn colors the view itself can be reason enough to make the journey.

Takachiho Gorge-waterfall canyon-JAPAN

Takachiho Gorge (高千穂峡, Takachiho-kyō) is a narrow chasm cut through the rock by the Gokase River. The nearly sheer cliffs lining the gorge are made of slow forming volcanic basalt columns which resemble the scales of a dragon where the stone twisted and flowed as it formed.

Partway along the gorge is the 17 meter high Minainotaki waterfall cascading down to the river below, and it is truly impressive to see the waterfall against a backdrop of dense green foliage and the surrounding grey cliffs.Water fall Canyon, Takachiho, Japan

Glen Canyon, USA

Glen Canyon is a canyon that is located in southeastern and south central Utah and northwestern Arizona within the Vermilion Cliffs area. It was carved by the Colorado River.

Lake Powell  

A reservoir, Lake Powell, was created by the Glen Canyon Dam. Lake Powell emerged from a struggle over damming Dinosaur National Monument.

Horseshoe Bend - Famous part of the Glen Canyon  

Glen Canyon is a true paradise for nature lovers from all walks of life; there really is something for everyone. Whether you're a geologist, a biologist, an anthropologist or just a regular visitor, it's pretty much guaranteed you'll enjoy the splendor Glen Canyon has to offer.

But at this majestic site, it really pays to study rock formations, as they are the region’s true storytellers, recording the environmental changes caused by climate, weather, fires and geological processes throughout the millennia. 

Machu Picchu-Peru

Traveling to Machu Picchu
The site is located 80 kilometers northwest of Cusco and sits between two mountains. From Cusco, you can take a train to Aguas Calientes and then take a bus up to the actual site. If you are of the more adventurous type, you may want to take a one-way bus trip up to Machu Picchu and then walk down to Aguas Calientes on your way back.
It's no wonder Machu Picchu is Peru's most-visited site. Dating to the mid-1400s, it's a marvel of mortar-free limestone architecture perched on a high plateau deep in the Amazonian jungle. Get there via train from Cusco or, if you're not faint-hearted, make the trip on foot via a multi-day hiking trail—you'll travel through deep Andean gullies and enjoy stunning views.

Machu Picchu-Peru

Machu Picchu-Peru

Machu Picchu-Peru

Machu Picchu-Peru

The Hotel in Wasserturm

The Hotel in Wasserturm, what used to be Europe's largest water tower, is one of the most unusual hotels in Germany

Getting a Mortgage – Find A Suitable Property And Bid At Least 10% Below The Asking Price

Even in a strong property sellers market, it is advisable to go in low. As a first time buyer who has proof that you will not have any problems getting a mortgage (having obtained an agreement in principle) – you should not be afraid to make a low offer based on a quick transaction, providing of course you are in a position to move quickly.

In a weaker property market you can even consider going in even lower. The lower the property purchase price, the easier it will be for you when getting a mortgage – and more importantly, the easier / cheaper it will be to pay that mortgage off!

Mortgage Tip : Figure out what you can afford

Another one of our mortgage hints involves affordability. Given the harsh economic climate in the US at the moment, nobody wants to take on a debt that they will not be able to repay. So, sit down and figure out exactly how much spare cash you have left every month for a mortgage payment. Dont just take away your everyday living costs and other financial commitments from your salary/salaries and use the figure you have left. Leave yourself some breathing space with some spare cash that can cover emergency costs or rises in interest rates every month.

It’s also a good idea if money is tight to maybe use a couple of months before you apply for a mortgage to save up as much as you can for your deposit and other mortgage costs (see mortgage tip 7). The higher the deposit you have, the lower your loan will be.

Mortgage checklist

• Save a deposit
• Think about how much you can afford to pay each month on your mortgage
• Read up on the different types of mortgages available
• Be prepared - get as much paperwork as possible done in advance
• Always read the small print - both on your mortgage and any insurance you intend to buy. It could save you a lot of money in the long run

Choose Fixed vs. Variable Mortgage Loan

One of the biggest decisions with your first loan is what kind of mortgage to get. A variable-rate mortgage will have a lower interest rate and lower payments at first, but after the first five or seven years, the interest rate could increase significantly and drive up your monthly payments. On the other hand, a fixed-rate mortgage allows you to lock in the same interest rate for the whole mortgage. If interest rates are low and you plan to keep the mortgage a long time, a fixed-rate mortgage is generally best.

Reasons for Mortgage Loan Rejection

There are many different reasons why a potential borrower could be turned down for a mortgage loan. But it usually comes down to one of four things. Here are the four most common reasons people have their loan applications rejected by lenders:

• The borrower's credit score is too low.
• The borrower has too much debt.
• They borrower is asking for too much money, relative to income.
• The borrower lacks a down payment.

Some of these things tend to overlap. For example, having too much debt relative to your income (item #2) can actually lower your credit score (item #1).

What is home equity release?

Home equity is the amount of money someone has invested in their home - your home equity may be all or part of the market value of the property and its fittings. A home equity release loan is a loan which uses the equity you have in your home as security. In general, no repayments are made until you sell the house or die.

Home equity release agreements may be entered into by older people who do not have a large income, but have a lot of money invested in their house.   

Home equity release may be right for your situation, but it needs very careful consideration. There are no specific legal requirements for how a home equity release plan must be made, over and above the laws applicable to financial or property transactions more generally (e.g. the Consumer Guarantees Act and the Credit Contracts and Consumer Finance Act). A well structured plan will mean that you don't end up being evicted, moving to another property, or owing money to the lender above the value of the house. 

Signing on for a home equity release plan is a very big decision, but there are several places where you can get advice. Sorted.org.nz offers a useful online guide to equity release.

There is also an organisation called SHERPA (Safe Home Equity Release Plans Associated) that is a governing body for the organisations offering home equity release loans. Its members operate under a shared code of practice.

Arrangement Fee of a Mortgage

• Aka. Sometimes also called a Completion Fee.
• What is it? This fee can be paid at any point before the mortgage starts. It is the fee your mortgage lender charges to set-up your mortgage.
• How is it paid? You usually have the option to pay this upfront, or add it to the mortgage balance.
• Is it refundable if I don't proceed with the mortgage? If you are declined or decide not to proceed, you can normally get this fee refunded.
• Where can I find this fee on my KFI? This fee will appear in Section 8.
• How much roughly can I expect to pay? This will vary massively. It could be a cash amount, or could be a percentage of the mortgage you are applying for. Because of this it's difficult to give an idea of how much it might cost.

Avoid any major purchases before closing your mortgage loan

Avoid any major purchases before closing your mortgage loan. Some homebuyers think that just because they have a mortgage deal all lined up, the deal is done. Not so. Banks have been known to pull mortgages when the homebuyer buys a new car or makes another major purchase. To banks, such purchases suggest more debt for the homebuyer and more risk for the banks. Avoid any big-ticket items until after you’ve signed on the dotted line. That goes for cash deals, too. Banks also check out your cash reserves when they approve a loan.

Why You Should Think Twice About Small Home Loans

Note that if you do manage to finance a home with a mortgage loan of less than $50k, the interest rate will most likely be higher to compensate for the money the lender is losing on the deal. Additionally, while closing costs of, say, $5,000 would be considered perfectly reasonable on a standard mortgage, that represents 10 percent of a $50,000 loan  not so reasonable any more.
So in answer to Sandys challenge, the banks and rates available for mortgages under $50k vary by applicant, and you wont find them advertised. Some lenders outright do not provide these small mortgage loans, while those who will do so on a case-by-case basis.
I would advise anyone seeking a mortgage this small to stop for a moment and really think about whether its worth it may turn out that securing a mortgage loan for that little doesnt make sense financially. If you need a loan for less than $50k, consider finding an alternate source of funding, maybe even borrowing from a family member or friend, or simply waiting on your purchase so you can save up the money you would be spending on mortgage payments and pay cash instead.

Applying for a mortgage

The traditional method of applying for a mortgage has been to go into the local branch of your bank or building society for a face-to-face meeting. But there's no real need for this. Many lenders now accept applications via the telephone or Internet.

To speed up the application process, have ready your most recent P60 form, your three most recent payslips or your employment contract. If you are self-employed, you will normally need to provide accounts for the past three years.

Tip: Check whether you will have to pay for your own property valuation, legal fees and whether the lender charges an arrangement fee. It's important to have the money lined up for these at the outset.

Mortgage Payment

Not only you will need to show you have sufficient "reserve funds" in your bank account to make your future monthly mortgage payment, but also you need to prove that you have enough money generation capability to sustain your ability to make payments in the future.

The most common way to prove is to disclose your current employment status and the salary that you are making. The bank will often ask for your last 2 years of tax returns (to prove you have a history of making similar salary) and then the last 2 pay stubs (to prove that you are really making the salary that you claim you are making). So as long as you are telling the truth, you should have no issues providing your tax returns and pay stubs as proofs.

Steps to Good Credit

• Frommeyer and Arnold both suggest checking your credit as often as possible. You can get a free credit report annually through AnnualCreditReport.com.
• In addition to paying bills on time, they suggest not opening too many lines of credit in a short period of time. A few per year is okay, but lenders are typically wary of people they determine to be "credit dependent."
• They also say to clear up any problems or mistakes immediately. Lenders don’t want to hear explanations; they want to see solutions.

Bora Bora Island Beach- French Polynesia

French Polynesia has actually more than one hundred islands. Bora Bora Island is the most idyllic among all of them. If you are out on your honeymoon, this particular destination is the best in terms of privacy and beauty. Bora Bora Island is almost a hidden place in Polynesia amidst the rugged territories and it can give you the precious privacy that you need for your honeymoon destination.

The water of the sea in it is crystal clear and the place is beautifully maintained by the local authorities.You can enjoy the services like horse-riding, helicopter tours, hiking and excursions. The island has the presence of many hotels that makes your stay extremely comfortable.

Old Montreal Port-Canada

Last on our list is the Old Montreal Port (Vieux Port Montreal) which lays hidden in the historical center of Montreal. The port was once the economical center of North America, but after the decline in the field of maritime activities the Canadian government decided to recondition the area. Today it is a major artistic and touristic destination filled with picturesque buildings and beautiful old boats.

Old Montreal Port-Canada

Old Montreal Port-Canada

Old Montreal Port-Canada