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28 September 2011

Good Point of Fair Practice Code Edelweiss Housing Finance Limited

The company Edelweiss Housing Finance Limited offer total financial solutions and have a wonderful ad on television where they guide people to ‘you can’. Thus offering finance to one and all provided you have the repayment capacity and fulfill their eligibility criteria.
A good list of fair practice codes is seen on their website dealing with one and all aspects regarding all types of financial loans and even housing loans. They follow the code of ethics stated by the Reserve Bank of India applying tot he non-banking financial companies which assures the customer of good service.
Right from loan appraisal to loan applications and loan approval all the procedures are well sorted and the final loan amount and loan approval, all are mentioned clearly and on paper. This is a very good point and this shows transparency of Edelweiss financial housing company. Since simple and complex all matters are jotted down to the last detail, and there is also a written approval document duly signed by the borrower regarding rules and regulations and procedures of the company which is kept with the company.
With no difference of partiality for disabled or handicapped individuals the Edelweiss company sure has a universal open to all banner, and thus may be able to get clients from all financial sections as well as all strata of the society . They also promise not to fall into unlawful procedures of harassment and work with legal procedures for loan recovery in case of default.
With rules followed according to the Reserve Bank of India Edelweiss housing finance company provide total financial solutions catering to the common man as well as corporate and business sector.The new era of total financial solutions has arrived and even common working as well as self employed people prefer to hire professional help and guidance in financial matters today.

New 25 Year Home Loan by Edelweiss Housing Finance Company Limited

This Edelweiss Housing Finance Limited is a housing finance company having many financial solutions for individuals as well as the corporate sector. As there are many options for borrowing money for different types of loans now many financial companies are offering total financial solutions to people as well as businesses. This Edelweiss Company also offers housing loans and their eligibility criteria are also the same as for other loan lending institutions.
They do promise easy loans approval in less time and also a larger loan amount as compared to other loan lending institutions. By filling the online home loan calculator the borrowers can get the amount of loan at a click and also a one time insurance premium amount to be paid for the home loan. Home loans can be got at fixed rate of interest or variable rate of interest and there is also a wonderful option of fixed variable combo loans which are made according to the borrower’s specific needs and Edelweiss also offer custom made financial solutions to all your loans.
With the benefit of quick and easy loan shifting and transfer even if the borrower has any ongoing home loan they can easily shift their home loan to Edelweiss housing home loans. Even Edelweiss offer great opportunity for top up loans that is you can avail another loan by mortgaging the same property.
One of the biggest plus point and a boom for borrowers of home loans is they have a extended loan repayment tenure. Having a repayment schedule planned for a maximum of 25 years, which is the longest among other competitors of housing loans they do have a great opportunity to get reduced EMI every month. The loan tenure being larger it is understood that the amount offered as loan will be divided for more years and thus the EMI amount will be reduced per month.

27 September 2011

Total Financial Solutions

As property rates are at a constant rise and people are not able to manage their finances according to the rising expenditure needs home loans are becoming much costlier and buying homes much dearer. A litre of milk costs much more and a kilo of vegetables and fruits also are more as also gold and other recreation needs. With gold dropping today much lower people do have the time to rejoice during the Navratri festival and also welcome Deepavali with showering of gold purchases. Financial solutions is one of the booming business nowadays and financial consultants are the need of the time.
What do you mean by total financial solutions? By this we mean financial loan lending institutions or agencies be they local agencies or internationally working , they have financial consultants who guide people and businesses to flourish by proper and judicious financial planning solutions. Many cases of default and losses in businesses have been improved and overcome by proper guidance and consultation from these financial solution consultants. Why am I discussing total financial solutions in this blog on home loans?

Total Financial Solutions
Well here as I have noticed many common people are now finding the need to hire professional help from these financial solution consultants to guide them for proper spending habits and planning investments.Earlier in joint families there was a support system of financial backing and also ownership property where in the newly wedded couple need not have worried about loans and other financial planning, this was taken care of by the elders of the family till the younger generation learned by experience and guidance of their elders.
These total financial solution consultants guide people to assess their financial standing. By this I mean that usually we are not very clearly aware of our assets and expenditures. Our total salary on the salary slip is not our total salary but that which is take home is considered as total salary. Also other expenses which are noted and that which are not noted also sometimes come to a substantial amount which is not accounted for. The common man on understanding these finances can lead a better adjusted and financially planned life and also plan for future expenses along with their loans.
These financial consultants go through all your financial documents and come to total solutions which are beneficial to your financial portfolio and come to hassle free solutions that guide you to judiciously apply and get many loans like personal loans, home loans, business loans, renovation loans, car loans, educational loans etc  approved along with better repayment schedules which are stress free which lead to fulfilling many dreams.

24 September 2011

How to Earn Money from your Home Loan

Earn Money from your Home Loan- Rizwana Mundewadi
Earning money is always welcome and people are trying to search fro opportunities to earn more and increase their financial standing. You, the borrower of an home loan can earn money by investing in a flat. Let us see how this opportunity to earn money works.
Working couples are at an advantage as they have two incomes coming into the household. One of the incomes can be used totally for investment purposes as another can be used for monthly household expenses. With income ranging from 50, 000 to a lakh per month , usually the IT sector is booming, the couple can think of investments at an early stage.  With working couples and working executives there is no problem for salary proof or approval of home loans if they have the repayment capacity for the loan.
A well balanced approach towards investing in property will surely help you to earn more money and also enjoy the ownership of a flat. If you are already own a house then the next option would be to purchase another house and put it on rent. Get your home loan easily approved and then take possession of the new flat immediately. With the possession of the flat your EMIs will begin and you will get the ownership papers and documents oft he new house. Once this is achieved you can either rent it to family, friends or even big companies.
Many established or new companies offer their employees rent for staying and you can use this opportunity to earn more money. This is also safe as the companies have their legal documents clear and you do not have to fear ownership issues over rented people with them. As the companies have done all legal procedures and sign an agreement for rent with you it is assured that you also get he rent every month without fail. This money can be used to pay your EMIs and also many times if you have selected a flat near railway station or airport your rent will be nearly double or triple as compared to other area flats.
So if you hare eligible for applying and getting a home loan go ahead and get it and start earning money from your home loan!

Home Loans for Villas

With people applying for home loans as investment and second home options villas are becoming the in thing if you have the budget and the dream of owning a villa. Many financial housing companies offer special loans for purchasing villas or bigger houses. It is a dream for many to own a villa with a drive way and grand entrance along with a garden and own parking space!
A villa can be a bigger house or a duplex bungalow having many rooms and also a veranda or open space in front and behind the house.
Usually people who love to have gardens in front and also a  kitchen garden at the back would really love owning a villa. Loans available for purchasing villas also will have the same eligibility criteria as for any other purchase of house. For the self employed their income proof and bank statements along with the income tax documents would suffice provided you have the repayment capacity. For the employed their salary proof and their identity proof along with their repayment capacity will generally suffice to get your home loan approved for purchasing a villa.
Selecting a villa is an important decision to be made by the family. Investing in a villa for personal use would be best since you may not get the adequate rent if you purchase a villa for investment purposes. Usually buying flats for investment purposes is quite different as the aim would be to purchase a flat in the best paying area. Purchasing a villa can be a long term decision where a settled middle aged family can opt for the long term goal of owning a villa.
Many new generation families are also opting for purchasing a villa if they have a business background and finances are not a problem. They can get villa loans easily with their financial standing and get their loans approved quickly for purchasing a villa. Villas are also good for joint families as the area of each villa is larger having many self contained rooms along with common living rooms and kitchen.
Villa is a increasing popular option that many home buyers are opting for and if you can afford it why not buy it!

09 September 2011

Latest Second Home Loans

People having homes are now opting for purchasing second homes as investment or for recreation purposes. With getaways and vacations growing dearer many middle class people are choosing to buy property on the outskirts or native place to enjoy vacations at their own leisure and also with the comforts of your home.
Second home loans are available to any borrower who has the repayment capacity and usually all financial institutions are offering second home loans. The latest second home loans are available at lower rate of interest and also flexible repayment options. Since a second home is purchased after the borrower already owns a house or other property and is well settled financially there are less hassles in proving their financial position and repayment capacity. Some people opt for purchasing a second home immediately after their first home loan is completely repaid. 
This comes to their advantage as the lenders are aware of the borrower’s repayment capacity which they have proved by completing the previous home loan on time. Their past track record on credit card statements and repayment of other loans will get the second home loans immediately approved. This approval of second home loans may also not take much time as all your documents could be in place and also the lending institution will have your past history of timely repayment of EMIs.
One can also mortgage the same owned house as a security and apply for another loan to purchase s second home. Since you will have developed the habit of collecting money for EMI every month think of this as another big saving and investment which would always appreciate in value. Property purchased will always appreciate in value unlike any other investment and it sure will pay to invest in purchasing a second home even if it is on loan.

Home Loans for Farm House

There are many farm houses available on the outskirts and far away suburbs of the city. Since these farm houses are of larger area it is difficult to purchase them and people opt for home loans for purchasing a farm house. Farm houses are usually far away from the city so it will depend upon the loan lending institution to approve a home loan for purchasing a farm house.
Lenders will usually offer loans for farm houses that are built by reputed builders and have legal status clear. The legal documents and property documents must be there to prove the clear title of the farm house to be purchased on loan. As with any other loan the housing finance company will go through your finances and your repayment capacity for approval of your home loan to purchase a farm house.
Your age and your qualification along with number of family members, their educational status and number of dependents in the family, all points will carry weightage for getting your farm house loan approved. Every lending institution will vary in their rules for offering loans and also may not offer the same loan amount. You can survey many financial loan lending institutions and their loan rules for offering loans for purchasing farm house on loan.
Most important would be the area from where you have selected a farm house. There are some housing finance companies who only offer loans within certain area limits and also for constructions from only certain builders. If you are trying to purchase an old farm house then you can mortgage your property and assets as security and go in for a home loan. If the eligibility criteria of the selected area does not fulfill the rules of the lending institution you can always take advice from lawyers and financial advisors regarding finding ways to get your home loan approved for purchasing a farm house.
Usually many farm houses may not even have legal papers and documents so it would be wise to only purchase such places which have their legal status clear, Since a farm house is of a larger area and the loan amount would also be a larger one it would be advisable to select e a clear title property for purchasing a farm house.
Remember home loans are available and approved only for legal and clear title properties so it is the best advantage of purchasing a farm house on loan, as you will be assured of the legal status if an housing finance company approves your loan for purchasing a farm house.

Home Loans for Artist Studio

Every artist need special place for their professional materials and to work from. Though every artist dreams of owning a studio of their own not many would have the luxury of owning a studio. It would be nice to own an artists’ studio and what better way to purchase it sooner than on loan, where you get to independent professionally and also own a private work place.  
Like any other loan even artists’ can apply for loans and get it approved if they have the repayment capacity and fulfill the eligibility criteria for housing finance companies. How to go about purchasing a artist studio on loans? Same rules apply for artist as they come under the special category of self employed professionals. With art prices on a steady rise and paintings going at such high rates now even lending institutions are willing to bet on artists and offer loans. Usually any lending institution who is offering loan will wish to know the financial position of the borrower.  Their monthly income and their repayment capacity is one of the most important criteria to get your studio loan approved. Since artist studio would amount to a less area there will also be less tenure for repayment and one can negotiate it at a lower rate of interest.
An artists’ studio would not be of a larger area and usually accommodates a hall and a small pantry or kitchen along with a wash room. Sometimes it may just be a square room with a door and window.  The main criteria that would be considered for approval of loans for an artist studio would be the standing of the artist. Whether they are new or an established artist would matter much for approval of any loan. If you have a base and have many paintings sold to your credit and are a known name among the art world it would become very easy to get your home loan approved for an artist studio. If you are a new artist then the procedure might be some what different as you will need to make clear your financial income position and your assets along with your other property or income proof.
Home loans for artist studio are also available from any housing finance company or private lender according to your repayment capacity. You can get a loan by mortgaging your property and own an artist studio or if you are working as a teacher or running an art class well and good as you have a monthly salary proof.

Studio Apartment Home Loans

With offices and studios becoming the in thing people are not only applying for home loans some also wish to purchase home office or studio apartments on loans. With the same eligibility criteria like any other home loan any borrower can purchase a studio apartment on loan.
A studio apartment is also like a house but usually is smaller than a flat. The area for a studio apartment may be lesser as compared to a house of say 2 bedroom hall kitchens. A studio apartment is usually purchased for personal use by an member of the family or group of friends who wish to work together or stay together. Some times when single people who are working cannot afford larger flats so they may club their finances and purchase a studio apartment on loan.
Studio apartments are also used by artists and writers who wish to work from here and keep their residential place separate. Be it for business reasons or for keeping their creativity. The studio apartment may have a large single room or may be like a one room kitchen with small pantry. This studio apartments are available in many areas and many builders are constructing studio apartments for special category of people. These buyers who have special needs for smaller places be it professionally or for budget constraints.
Home loans for studio apartments are available from any lenders and many housing finance institutions offer loans for the purchase of studio apartments. The area in which you need to purchase a studio apartment and the reputation of the builder is one of the criteria for approval of your studio apartment home loan. Your monthly salary proof  and your repayment capacity will get your studio apartment loan approved easily.