How to Decide whether Remortgage Is Your Option when Fixed Rate Ends

Many people choose a fixed rate mortgage for the couple of years and once this term ends they think whether or not to go for a remortgage plan. If you are among these people still wondering what is the best to do in this situation you need to read on and find out some things that you should consider. They will help you decide in making your choice in a way that suits the best your particular situation.

  • One first thing to consider is the new interest rate that will be set for your remortgage plan. You may be surprised to realize that the rates could be the same irrespective of your choice: going for a variable rate of the current mortgage or going for a remortgage plan. However, when you say variable rates chances are for these rates to increase over the years even if the predictions go for lower rates in the near future. Therefore opting for a remortgage it can be more sensible in this case.
  • Another thing that worth considering with the remortgage is the savings you can do over time if you opt for this financial help. In order to make sure that it can save you more money in the long run you should know how long you plan to live in this house. Keep in mind that a remortgage can take up to 30 years to be repaid and for this fact, you should make sure that you will spend more than a couple of years in this house. Thus you should come to a conclusion whether or not you can save more money on the interest in the long run to really worth applying for a remortgage. Also having an equity built in your home, your monthly payments will go considerably lower.

As a conclusion to the things described above: it is worth applying for a remortgage plan once your fixed rate period reaches an end and if you stay in the house for many years. This is definitely better if you suspect that the interest rates will rise in the near future. In case you are planning to live in the house no longer than two years, then you wouldn’t have to consider remortgage as your next financial move. It wouldn’t save you money as it would have if you were to live longer in the house.

However confusing all these may still be for you, it is time to take action especially if you know that your fixed rate period is about to end. Think also of consulting with a financial advisor about their opinion in your particular situation. Maybe your credit record won’t allow you to resort to a remortgage plan or who knows what else?! With the assistance of a financial consultant you will know what your best option is for the future.

Time: A Precious Commodity

time as a commodityWhether your commitments are parenting, going to school, working one or more jobs with excessive time requirements, or other endeavors, you have to learn to make choices that protect your health and sanity. You also need to make time in your schedule for your family and your down time. Don’t compromise your quality of life because you are afraid to admit you have taken on too much.

Because time is a precious commodity, consider using these five tips for reducing your time commitments

1. Place your current time commitments in rank order. Be sure to note the number of hours these activities currently require. One strategy is to shave off hours from one or more commitments so that you build some extra time back into your schedule.

2. Speak with your boss about your current assignments. It may be that you have committed to too many projects at work. Your boss may agree to adjust your workload so that you don’t have to work so many extra hour

3. Adjust your sleep schedule. Sometimes simple adjustments like going to bed earlier so you can get up earlier the next day will give you the time slots you need to be more productive at work and home. Instead of driving yourself crazy with multi-tasking and to-do lists, analyze your peak energy levels during the day. Maximize your day by giving yourself a generous time slot for work; your time slot should be targeted to the time of day when you think and feel best.

4. Seek assistance instead of abandoning time commitments that make your entire schedule impossible. For example, if you are attending college and have family commitments, find someone in the family who can pick up the slack at home so that you have time for attending class and doing homework.

5. Give yourself a break; prepare to explain what you can reasonably continue to do for others. Once you’ve tried to explain your situation to people who depend on you, you have to make difficult decisions. You can either cut back on time commitments or eliminate them. If the people in your network care about your wellbeing they will understand that you need to reduce your workload so that you have enough time to relax, rejuvenate, and tend to your personal needs (i.e. schoolwork or spending time with family).

Reorganizing your time commitments can be tough, but time is something you cannot regain in this lifetime. Look for ways to find balance when you try to divide yourself among your many time obligations.

How To Make The Best Of The Recession

recessionIf you’ve lost your job, are having trouble paying your mortgage and are wondering how to feed your family, you’re probably not up for hearing that there’s a bright spot hidden in the heart of a recession or other economic turmoil for many people. There is a kernel of hope in the ocean of gloom that is the current economic bust. The recession, which has taken and continues to take so much from everyone, has given us one good thing. It has given us the gift of time.

For most of us, our jobs took up at least fifty hours a week, when you consider the time it took to get there and back. For some people, it was more – up to sixty precious hours that we spent away from our families, our homes and our favorite interests Maybe that’s why many people just veg out in front of the TV when they get home.

Well now, if you’re no longer employed, you have that time back, except for the time you put into job searching. Before you lose that time to mindless web surfing or old Judge Judy reruns, take a minute to think of all the things you have time to do now. There are so many possibilities and options and many of them are completely free.

No matter where you live, there is probably an adult ed program near you. Call your nearest school system and see what they have to offer for night classes. Many of them teach things you can use to hone new skills for a career change. You might even find yourself happy at the prospect of doing something you really like as opposed to what you used to do just for the money.

If nothing else, you may be able to develop a hobby or craft into something that will make money for you on a part-time basis. Learning new things is good for your brain and helps you stay sharp. That’s very important when it comes to competing for the few jobs out there. You could also check with local colleges and trade schools which sometimes have classes that you can audit or attend cheaply if you’re only taking one class rather than getting a degree.