Home Loan… that killing you silently! August 28, 2008

Home Loan : Guide to Choosing A Home Loan

To many, being able to afford a new home is indeed exciting but can be stressful. After months of reviewing potential homes, you finally have the financial means to choose the best of the lot. But now comes the mind-boggling task of selecting a suitable home loan.

1. Choosing a suitable home loan
Choosing a home loan for most of us is the beginning of a long-term commitment, one that can stretch up to thirty (30) years! Selecting the right package is important. If this is not planned carefully, you may find your finances strained. So, shop around and know your options before selecting the best package that suits your needs.

2. What are your needs?
Identify and list down your needs and match the benefits offered by each housing loan package. You may want to consider some key points such as: What margin of financing do you need? Any pre-payment fee for early or partial settlement? Does the package subsidize moving costs? Any risks in fluctuations in interest rates? If interest rates fluctuate, will I be in the financial position to take this risk? Any insurance protection required? It is always prudent for the customers to ensure that they know the features of the mortgage when securing the housing loan and ideally the package must be able to meet their needs.

3. Types of housing loan packages
There are basically two types of interest computation for home loan packages in the market:

1. Floating Rate Mortgages whereby interest rates are pegged to the Base Lending Rate (BLR).
2. Fixed Rate Mortgages where interest rates are fixed for the entire loan period.

Floating Rate Mortgages
If the customers opt for the floating rate mortgages, interest rates will fluctuate according to the BLR determined by the Bank from time to time. As such, customers must be prepared for such eventualities if interest rates were to increase during their tenure of the loan. This is because a rise in interest rates could potentially hurt household income, as borrowers will face higher financial obligations if they are not prepared for such risks.

 

Discipline : Self Organization August 28, 2008

Being out of my comfort zone and now running my unit on my own, i realised that the commitment is much higher than i expected. I was introduced by my leader to block my time for better and focus results. Herewith i would like to share a little bit bout how i getting organise in my new environment.

 

Designate a set period of time each week for self Organization, Planning your week, getting things in order:

• Get up one hour earlier each day. Use this time to read and study.
• Keep your weekly and daily plan visible
• Be ruthless with your time
• Commit to bringing more order to your work and your personal life. The secret of freedom from anxiety over not having enough time lies not in working more hours, but in the proper planning of those hours.

 

Learning to Sell… (part 2) August 28, 2008

continue….

 

6.         Be Charitable – Have the heart to give back part of what you earn to charity as the   old saying “you should reap what you sow” hold much truth.

7.         Positive Energy – Selling is tough, no doubt about that and it is all the more reason why, you should always evoke positive energy. This benefits not only yourself but also those around you.

8.         Listen – People say sales people are often sweet talker and in reality, sales people talk so much that they failed to listen. Listening is key to selling – only when you listen to your potential customers, will you know their true needs.

9.         Good Prospects – Approaching prospects from all walks of life is well and good, but there are times when a prospect doesn’t need what we’re selling. So, go for quality prospects, one you know with a need for what you’re offering.

10.     Commitment – Being committed always shows, so when you’re done with your initial presentation and sales talk, follow-up. Waiting after submitting a proposal is one of the biggest time waster, so be sure you always get some commitment as to when you can follow-up on the next cause of action.