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Armagh Mortgage Brokers and Mortgage Approval Advice

There is no doubt that your mortgage advisor has a lot of value when you consider that most people just jump into the loan when they see some low prices or dropping interest rates. This, later on, becomes a huge problem, when they realize they can’t handle paying for the property. In many cases, you won’t even get it because of your credit score or other factors. Gather information from advisors or Armagh mortgage brokers that can help you out because at some point you will need one.

It can be very stressful when you are in a hurry to get a property because you might get denied a few times or you might have less money than needed. There are a few things you need to do before you even look for a new home including paying off your debt and making a budget. You will need to find ways to improve your credit score to be able to get a loan for any property you like.

Credit Score

The problem starts with a lack of information people have like not knowing that it takes a couple of minutes to get your credit report and find out what your credit score is. Some people that know this won’t even look at their credit history and they will submit a loan application thinking they will qualify. Checking it out is the first step you need to do in order to plan to buy something in the near future.

A number one thing that impacts mortgage approvals is the credit score. Most lenders will request it to be around 680 so if you have a lower score you will be denied for a conventional loan. That isn’t the only thing that can impact approval. If you didn’t make a few payments on the loans you have or you are frequently late, you might not get it. You need to lower your debts and pay bills on time to clean up your credit history before applying. Read more on this website.

Save Money

Requirements change from time to time and you might need to have cash in order to apply for the credit. When the lender sees that you don’t have cash up front, your request can easily get rejected. Depending on the lender and the loan, the down payment minimum will vary. The lender is the one who makes the criteria for it and an average is at least 3.5%.

When the down payment is higher, around 20%, it will be easier for you in the long run because it alleviates private mortgage insurance. It means that your payments will be lower when you get rid of PMI. A down payment isn’t the only expense that you need to think about. You’ll also have application fees, credit report fees, title searches, home appraisals, home inspections and other expenses.

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Don’t Quit Your Job

It also happens that people quit working before they close the deal and in the end, they didn’t get to close it because of it. You can lose many great deals this way thinking that you will find a job in the area you are going to but that isn’t the choice you want to make. While you are in the process of buying the house, stick with your job.

The overall process can be stopped when they find changes in the status of your income. They will determine if you will get the loan based on the information they have in the application. Getting a lower-paying job will also impact the decision. You need to have a job so it will be more convincing that you will pay it off.

Avoid New Debt and Pay Down Debt

It isn’t so complicated to get a loan, but the less you owe the better the chances. Lenders will check your debt-to-income ratio when trying to approve the mortgage. In most situations, your debt payments shouldn’t exceed 35% of your monthly incomes. When you pay everything off before applying for a new one, you will also get a better rate. Lenders will recheck your credit because you might get into another debt a day before closing. Any major purchases should be made after closing the deal.…

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9 Tips to Reduce Your Two Wheeler Insurance Premium

It is mandatory for every vehicle owner to purchase at least a third party liability only insurance policy for their two wheelers. Or they can purchase a more comprehensive insurance plan that will provide enhanced coverage for themselves, their co passengers, and their vehicle. Following are the few tips to help you reduce your insurance premium without compromising on the type of coverage.

Avoid making small claims

Motor insurance companies offer a no claim bonus to policyholders who don’t make any claims during a given policy year. No claim bonus plays a significant role in reducing your premium payable for the following policy year. Make sure to avoid making any small insurance claims during the policy year in order to keep the no claim active.

Choose the right coverage type

While purchasing a two wheeler insurance plan, one can opt for a third party liability only cover, a comprehensive insurance plan, or a long term policy. Always make sure to assess your needs and premium payment capacity before purchasing an insurance plan. If you ride your vehicle often, then you can go with a comprehensive or long term insurance plan. And if you use your two wheeler very minimally, you can opt for a third party liability insurance policy and save on the premium.

Purchase add ons wisely

Motor insurance companies allow you to purchase add ons to increase the protection accorded by the base insurance plan. Certain add ons include a Personal Accident Cover for the pillion rider, Roadside Assistance Cover, No Claim Bonus Retention Cover etc. Make sure to only purchase the add ons that you really require.

Opt for a long policy tenure

Two wheeler insurance plans can be purchased for a longer tenure. You can opt for a policy tenure of 1 year, 2 years, or 3 years. Opting for a long policy tenure helps you to save on the premium amount as it remains locked for the duration of the policy tenure.

Opt for deductibles

The deductible amount is fixed by the insurance company. Higher voluntary deductible reduces your premium payable and vice versa. However, you need to ensure that you have the necessary funds to pay for your part of the claim amount before opting for a high voluntary deductible.

Renew your policy on time

As a policyholder, you need to remember to renew your two wheeler insurance plan before the completion of the policy tenure. Missing out on two wheeler insurance renewal within the completion of the grace period could lead to termination of your insurance cover and loss of your accrued benefits. Thus, make sure to set up an online policy renewal reminder.

Compare insurance plans
Before purchasing an insurance plan, always compare various insurance plans. While comparing policies always read through the policy features, benefits, claims procedure, incurred claim ratio of the company, premium payment channels, etc. You can evaluate premium quotes on the insurer’s website using a two wheeler insurance premium calculator and proceed with a plan that provides you with adequate coverage at a competitive price.

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Travel Insurance & Its Numerous Advantages

Travellers always spend a lot of time and effort planning the perfect vacations, but they often neglect the importance of getting a good travel insurance policy. There is no sure way to control unfortunate incidents while travelling in a strange land. Thus, travellers are more vulnerable to illnesses and accidents while travelling abroad. While travelling with family members, always make sure to buy family travel insurance to be safe and protected against any unforeseen occurences.

Travel insurance covers the loss of the passport or baggage, sudden illnesses or accidents requiring hospitalization, theft as well as natural calamities. It also covers the cost of an extended stay in case you miss your flight due to an accident.

Travel insurance policy provides a wide range of benefits to travellers. Firstly, it offers coverage for medical expenses that are incurred because of accidents and illnesses. Medical treatment is very costly in some countries, and without travel insurance, it will greatly affect the savings of a tourist. Thus, with travel medical insurance, you can get reimbursement for the total amount of cost that you spend on medical treatment.

The above situations reveal the undeniable importance of travel insurance and how travel insurance can be your savior during tough times. Plans such as student travel insurance, family travel plans provide a more customized policy for your needs.

Let us take look at more advantages of travel insurance:

Multiple problems, one solution

From simple to complex issues, travel insurance offers comprehensive international cover. One can remain prepared for any eventuality with a travel insurance policy. Travel insurance covers you for several situations, from stolen passports to emergency evacuation on medical grounds. Thus, allowing you to enjoy your trip without any worries.

Cover for Trip Cancellation or Interruption

Due to any interruption or cancellation of your trip, you can get protected against the monetary loss to a certain extent because of the insurance plan. International travel insurance coverage helps you by paying back the expenses you face in the form of financial penalties or related to flight plans.

Medical Coverage

Always buy travel insurance for senior citizens, as they are prone to illnesses due to the inability to adapt to the changing climate. Medical travel insurance provides medical coverage on an international level. It includes hospitalization expenses for medical evacuation. You can ask for repayment from your insurance company by showing the bills, in case you visit a doctor and pay the expenses from your pocket. Be clear regarding your policy coverage to make the right financial investment.

Even your baggage is insured

Even the simplest of issues, such as the misplacement of baggage or delay in arrival are covered under your travel insurance policy.

Why Buy Travel Insurance Online?

Instant Booking

When time is a limitation, online purchase is the best and quickest option. You can compare the premiums of the various plans and buy the best travel insurance plan suitable for your needs.

Hassle Free Registration

Buying travel insurance online is a very easy procedure and less time-consuming. You can effortlessly buy an insurance plan for you. In addition, you do not have to fill in any paperwork or get documents Xeroxed.

Flexible Payment Options

You can make the payment through net banking by using your credit or debit card. You can also choose the EMI option to pay for the policy.

With an adequate travel insurance cover, you can make your well-planned holiday enjoyable and risk-free.…

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Did You Know There’s An Optimal Time To Buy Travel Insurance?

Time plays a major role while making a decision about purchasing travel insurance. Therefore, it is recommended to purchase travel insurance at the time you book your trip or very soon after. This is vital because travel insurance policies include time-sensitive provisions, which can broaden your coverage if you purchase the insurance very early during your travel plans.

It is always said that one must buy travel insurance plan as soon as all the bookings are made. Some people buy travel insurance right before leaving for the trip. They do not prefer buying it after booking their flights and accommodation.

Let us explore the correct time to buy travel insurance:

The most vital thing you need to keep in mind is that travel insurance is essential for any expedition. It is advisable to buy travel insurance as soon as you make the bookings and pay for your awaiting vacation, especially if your trip is non-refundable. You might think about buying travel insurance at the last moment. However, the earlier you book travel insurance, the sooner you are covered. Also, choose a plan which is more suitable for you and everyone travelling with you. Opt for a individual cover if you are travelling solo, family travel insurance if its with your loved ones and travel insurance for senior citizens if your grandparents are tagging along.

Core Benefits of Booking Travel Insurance in Advance:

Cancellation Protection

The main reasons for making claims are trip curtailments and trip cancellation. Buying travel insurance in advance helps you to take advantage of the cancellation inclusion in your policy. However, never forget that the insurance company will not permit you to claim for the event that has already occurred.

Medical Protection

Travel insurance provides coverage in case you fall sick or face any injury while enjoying your trip. What if you fall sick before leaving for your awaiting vacation?

So before buying a family or individual travel insurance, make sure you covered yourself for any unforeseen sickness occurring from the time of buying a travel insurance plan.

Tell the insurance company if you have any pre-existing illness while buying a travel insurance policy, in order to determine if your policy covers them or you will have to pay extra cost for it.

Tailor-made Travel Insurance Cover

Buying travel insurance early offers you to adjust to your travel plan to best suit your vacation needs. You can add or the edit the inclusions of your insurance plan and end up with an insurance policy, which works perfectly for you.

Buying at the last-minute

Many people prefer purchasing travel insurance and end up buying it just before leaving for the trip. It is recommended to avoid buying travel insurance at the last moment. The biggest drawback is you get deprived of a number of benefits of your travel plan that you were allowed to.

Always make it a habit to understand the finer details of your policy by going through the policy wordings, checking the exclusions, premium rates, deductibles and clarifying any doubts that you might have regarding the same. You can also check travel insurance reviews, of the various plans offered by insurance provider, and compare them before you settle on your desired plan.…