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Home Loan Balance Transfer – The Perfect Exit That Youre Looking For

Many people look at home loan balance transfers as the perfect exit strategy to get away from the current home loan problems. Put simply, this facility allows users to transfer their existing loan amount from one lender to another. This could be a good option, given that over a period of 20 to 30 years, there may be several financial issues arising if you find yourself with a financial partner that is not suited to your needs. It is important, though, to enter a new contract carefully so that you can complete the repayments easily for the tenure chosen.

Why do you need this exit? There are quite a few reasons. Users sometimes opt for a home loan balance transfer to benefit from decreased interest rates in the market that their current financial partner might not be extending to them. If you can save substantially even after deducting the processing charges, it is a great choice for borrowers. It can also be possible that the current financial partner no longer fits your bill of needs.

You can also consider this if your current lender refuses to top-up your loan. A top-up is often looked at when the value of a property has increased substantially when compared to its original value. In these cases, users often want additional financial aid to meet requirements like home renovation. You may also find yourself not being in a financial position to pay the current EMIs. In such cases, if the current housing finance company does not allow you to adjust your EMIs for a longer term, you can opt for a transfer. While home loan transfers allow you to do this easily, it shouldn’t be considered as a final option, though. This is because lower EMI rates for a longer period of time could mean more interest payment and additional cost for you.

Since a home loan transfer will need you to spend again on processing as well as special processing fees, it is advisable to ascertain the profitability of any transfer before taking it up. An important requirement for this is a clean repayment track record when approaching a new financial institution. Whatever the reasons for wanting a transfer, it is wise to first ensure that you are in a good financial position to avail all the benefits of a home loan transfer .

An important point that tends to get overlooked is the terms and conditions attached to the home loan balance transfer. For the most part, users will have to make EMI payments for the next 10 to 15 years. Over this loan term period, many salaried personnel, professionals or businessmen may find themselves earning enough income to complete their loan payment earlier and save on some of the interest. It is important to read the fine print to make sure that your financial partner offers you this service. If the current bank doesn’t allow you to do so, you can consider applying for a transfer.

There are some potential pitfalls that you need to keep in mind, though. A lowered home loan rate that you are being offered by a certain financial partner may rise over a period of time. This possibility must be taken into account before signing a transfer contract. Before transferring your loan, it is necessary to get a no objection certificate (NOC) from your current lender. It is also advisable to transfer your home loan within the first 2 or 3 years of the loan tenure. That is because, by this time, you will have paid off most of the interest amount, and while transferring, will have to pay again in charges and start over again.

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Best Practices to Ensure Online Practices

No one likes getting hacked or spied online. Nor do they like people peeking at their browsing history. Going online is a risk these days. But you cannot stay offline in today’s world, right? Fortunately, by using these practices, you can avoid these risks and stay secure online.

The important tips to follow when it comes to online security.

Use Unique Passwords Don’t use the same passwords everywhere. This is something that is very common. Using the same password increases your chances of getting compromised. There are streaming service accounts getting hacked everyday and they get posted online. Now, as hackers are aware of the common behavior of using the same passwords at multiple platforms, they use the leaked passwords to gain access to all your devices and thus, you’re fully compromised.

Use a VPNUse a secure VPN, like ExpressVPN whenever you connect to a public WiFi network. The public WiFi networks are quite dangerous and are used as a honey pot by the hackers. Anyone can easily sniff your packets being transferred on to the network and steal your data. A VPN adds an additional encryption layer and helps you stay secure online. Read the detailed ExpressVPN review to learn more about it.

Check for HTTPSAlways check if the web-page you’re browsing on is using the secure shell. The way to check it is to see if the page has https in its url. Almost all the websites are now using the https protocols but there are still some malicious websites that aren’t using it.

Awareness SeminarsConduct seminars and sessions on spreading awareness and teaching ethics of online presence. It is necessary to make sure that some SOPs are being followed by everyone to help them stay secure online.

Encrypted PasswordsAs I mentioned earlier, passwords are important. But only if used the right way. If you’re using the same password everywhere.The best practice is to use encrypted Passwords. Moreover, it is also important to keep your accounts connected to your emails and phones so they can be recovered easily.

Be vigilantEveryday users can avoid scams by controlling their impulse. There’s no way in hell that someone would be giving you a thousand dollars for nothing. Also, they have to be mindful while using the internet as it’s quite dangerous these days. They should be careful that the website they’re using is secure, keep a good VPN with you all the time, do a little background check and research before trusting a website or anyone online, and be careful with their social security and credit card information. By taking care of these things, I believe people can avoid phishing scams to a great extent.

2 Factor AuthenticationIt is definitely necessary. Because cracking and brute-forcing passwords has become very common these days. So only a password isn’t enough. So it is a must to have two-factor authentication enabled to prevent being compromised. Yes, it’s a bit hectic being asked to verify the login every-time you do it, but its better to be safe than sorry.

By taking care of these tips, you will be able to avoid risks of getting compromised online and make sure that you stay secure.

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Plot Loan An Ideal Option To Buy The Land You Desire

Most people seek the pride and honour that is associated with land purchase. However, very few people, venturing into such projects, know about the potential complications and the overall expenses. The biggest challenge in acquiring land is managing the funds. Plot purchases are expensive and require considerable amount of resources. The purchasing amount is the biggest challenge for most buyers. Financial companies offer products such as a plot purchase loan to overcome this challenge.

Whether you are an individual or a group of individuals, land purchase includes several expenses. Even before the payment of the decided amount to the seller, you make a lot of investment. There are certain expenses that a buyer must incur while purchasing the land such as stamp duty, registration fees, legal fees, real estate agent’s commission, etc.

You must investigate the properties that you are considering for any legal defects in the ownership titles, encumbrances on the property, NOCs (No obligation certificates) and other applicable documents. For example: If the property has been inherited by the seller, then you must ensure that the property has been awarded to the seller in the probated will. Though it is not a customary exercise in India, it is the ideal practice to avoid any legal hassles from other claimants of the same piece of property in future.

After property purchase, you would also have to pay the applicable property taxes and the maintenance fees. In addition to the price agreed upon, you would be paying the surveyors, lawyers and financial consultants that you would hire for proper evaluation and loan processing. Most people opt for a land purchase loan to make sure that they can afford to pay all these possible expenses.

This is where help from a finance expert would be extremely useful. Financial experts assist you to find the ideal financial company, well negotiated interest rate and customized repayment scheme to suit your existing and future cash flows. With a good expert by your side, you would get a suitable tenure and EMIs designed to fit your income and expenses. Thus, though these may seem like unnecessary expenses, these professionals protect your investment and save you from any probable hassles. In long term perspective, it is a smart strategy to use their services to acquire the land safely. Wouldn’t it be better than facing legal action or losing the land? Own the land you desire with the help of the ideal land loan and the right professional advice.

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