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Low doc loans solutions for self employed business people

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Are you a self-employed professional? Do you find availing loans for your business or personal needs difficult? Did you face unending hassles the last time you applied for loan from the bank?

perth moving and living in WA perth australia

Self employed low doc loans

If the answers for all the questions are in positive then it means you are facing some serious hardships in availing loans, which be quiet disappointing for the future plans you’ve made.

However, the long wait is finally over.

No longer would you be facing trouble standing in the long queue and waiting your turn only to find that the application for loan approval has been rejected.

The answer is in the form of a path-breaking financial products—– “low doc loans” or “low documentation loans.”

How do they help?

Low doc loans are specially designed for the people who are self employed and who face difficulty in furnishing up to date documents related to the income source and various other financial details. There are situations where the produced documents don’t actually reflect the source of consistent income. Hence the application for loan, receives rejection wherever applied.

Regular loans lenders find it very unsafe to offer loans to people categorized under self-income groups due to the instability of their business in comparison to regular income holders.Therefore, lending funds to such individuals is termed as a huge risk and banks generally refrain from lending it to them.

These loans could very easily add on to the list of Non Performing Assets (NPA’s) for these banks.

Other advantages of low doc loans:

· The number of financial documents required to avail the low doc loan is fewer than otherwise. It solves the major problem for the loan aspirants categorized under self-employed groups.

· Low doc home loans in Australia is available up to 90% of the market value of the property. This means that the applicant receives higher amount of the funds than from regular sources.

· The options under this category are innumerable and the aspirant can easily decide on the best possible choice as per the needs.

· Low doc loans offer redraw repayment facility. This is one of the main features of the loans that impart unique credibility and attractiveness to them. This feature is present in much selected regular loan schemes.

· In addition, the applicant receives the option of flexible repayment and unlimited extra repayment without any early exit. This adds a unique cover of security to low doc loans. In short, they have all the necessary features that make them more preferred.

Therefore, even in conclusion, we can state that low doc loans or low documentation loans are the best option for self employed people. However, they should make it a point to enquire about the stamp fee and miscellaneous expenses along with the total repayment amount before applying for these loans.

These loans are easily available at all the banking institutions where they can be easily accessed. It is always better to evaluate your borrowing potential before thinking of applying for low doc loans. Red Rock Mortgage Group is an independent mortgage finance company specializing in property finance solutions.

Is Australia getting ripped off with Technology , software and gadget Buys

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IT corporations including Apple, Microsoft and Adobe will become the first companies  in Australia to be forced to appear before a federal parliamentary inquiry after  and enquiry was launched  as to why Australians have to pay high prices paid for tech products in comparison to their other counterparts around the world.

adobe microsft and apple

The investigation into the companies and their pricing has come about as a result of a push by Labor backbencher Ed Husic, who says that the three are “ripping off” customers in Australia. Last week Husic pointed to the fact that in 2011 Apple made $6 billion in revenue in Australia, but only paid a mere $40 million in tax (that’s less than 1%).

The House Committee on Infrastructure and Communications has summonsed the three big technology companies for a public hearing on March 22, which means they will be compelled to appear and provide explanations  for what some say is price gouging.

These IT firms in and Australian first are now being called by the Australian Parliament to explain why they price their products so much higher in Australia compared to the US

Adobe said it would cooperate with the committee while Apple and Microsoft declined to comment. The committee has alleged that these IT companies  have  failed to answer key questions and so have been summoned

Consumer group Choice provided evidence showing Australians pay around 50 per cent more than US consumers for identical music, software, games and hardware. The website and consumer group Choice found that for one Microsoft software development product you could fly to Los Angeles return to buy the software and still save thousands of dollars.

Australia is complaining that although their currency is stronger than the dollar, the three tech companies are charging far more for their devices (and software) in Australia than they are in America Example:

Apple 16GB iPad – in the U.S. For $500, in Australia for $540 – from ( http://www.dailyflux.com )

"We welcome the move by the committee to force these companies to front the Australian public and explain why they think it is okay to charge Australians more," said Choice CEO Alan Kirkland.

"Australians are waking up to the fact that we are being ripped off. We believe it’s time that these companies realise this and start pricing fairly in the Australian market."

Britons Served horsemeat instead of beef

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A food scandal  has erupted  in UK and  France  where horsemeat was used instead of beef in popular ready top eat quick food like lasagne and pasta dishes.

In more recent update the food scandal is still unfolding  with Nestle, the world’s biggest food company now having  to remove beef pasta meals from shelves in Italy and Spain after tests revealed traces of horse DNA.

In the  quick food packed products , the meat in some cases was found to be more than 60 percent horsemeat.

This seemed to be the biggest meat scandal after the “mad cow disease” incident In the United Kingdom, the country worst affected, more than 180,000 cattle have been infected and 4.4 million slaughtered during the eradication program

The ready  to bake  quick  meals widely available in France and UK  and also Europe Deli and stores  were made in Luxembourg for the Swedish firm Findus.

Up to 16 countries have now been implicated in a European horsemeat scandal

Findus lasagne scandal

Britain’s Food Standards Agency (FSA) has  confirmed that its horse meat with Packets of lasagne being withdrawn in Sweden as well as in the UK..

Findus and its French supplier, Comigel have been the parties  involved in getting this products to the shelves of stores

Australias’s biggest supermarket chain will DNA test its home-brand meals in the wake of Europe’s horse meat scandal .Supermarket chains in Britain, France and Sweden have pulled millions of packs of lasagne, other pasta dishes, shepherd’s pies and moussaka on fears of it containing horsemeat

Nestle withdrew two chilled pasta products, Buitoni Beef Ravioli and Beef Tortellini, in Italy and Spain.

Lasagnes a la Bolognaise Gourmandes, a frozen product for catering businesses produced in France, will also be withdrawn.

 

About horse meat

From Wikipedia, the free encyclopedia

lasagne with horse meat mousaaka

“Horse meat is the culinary name for meat cut from a horse. It is a major meat in only a few countries, notably in Central Asia, but it forms a significant part of the culinary traditions of many others, from Europe to South America to Asia.

 

The top eight countries consume about 4.7 million horses a year. For the majority of mankind’s early existence, wild horses were hunted as a source of protein. It is slightly sweet, tender, and slightly higher in fat content than beef”

 

The UK and Germany have both pledged to step up testing of frozen food products on the wake of this  “meat scandal”.

Significant investor visa 888 Opens doors for Chinese Immigrants

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The government has  launched a new significant investor visa. The New Permanent) (Subclass 888) visa will enable  Wealthy chines to jump the queue and get permanent residency in Australia.

The Australian 888 Investor visa

The number of the subclass of the visa 888 which is a lucky number in china,  indicates who the visa is targeting.

significant investor visa eligibility

The visa  requirements are a bit relaxed except for the investing part,  where the applicant would need to invest $5 million or more  to be eligible to  get this visa.

The usual age , language  and residency requirement for other visas does not apply to this visa making it easier  to the investor to gain residency irrespective of these factors.

Requirement of the VISA

Complying investments for the Significant Investor visa include:

• Applicants should submit an expression of interest in Skill Select
•applicants should be nominated by a State or Territory government
• Applicants should make investments of at least five million Australian dollars into complying
investments as below.

• Commonwealth, State or Territory government bonds
• Australian Securities and Investment Commission (ASIC) regulated managed funds
with a mandate for investing in Australia; and
• direct investment into Australian proprietary companies.

For more details and requirements click here

Visa applicants may hold investments in each of the above investment options and may also
change between complying investments, provided they meet specified reinvestment
requirements

Similar Investor visa schemes  have also been introduced in other countries like UK  , New Zealand , United states, Singapore and Canada.

The previous “Investor (Provisional) (Subclass 162) visa” is closed to new applications from 1 July 2012. Only eligible dependent applicants can be added to an existing application that was lodged on or before 30 June 2012.

Australian Business Investor Stream Visa

The Australian Business Investor Stream (Provisional) visa is a temporary business skills visa that allows successful business people to invest in a new or existing business in Australia.

The Australian Business Investor Stream (Provisional) is valid for four (4) years and visa holders may be eligible to apply for permanent residence after meeting the obligations of their visa.

UK investor visa

The Tier 1 (Investor) category is for high-net-worth individuals who want to make a substantial financial investment in the UK.

Other UK VISAS

US INVESTOR VISA

EB-5 Immigrant Investor

Under the government’s EB-5 Immigrant Investor program, foreign investors can get conditional visas that allow them and their families to live, work and attend school in the U.S.

To qualify for the visa, they must invest at least $1 million in a new or recently created business, or $500,000 for businesses in rural or high-unemployment areas

New Zealand Investor and Investor Plus

The Investor Visa (Investor 2 Category) is an option if you plan to invest a minimum of NZ$1.5 million over a four year period.

If you’re looking to invest $NZ10 million or more then the Investor Plus Visa (Investor 1 Category)is more suitable. Click here to see the difference of these two visas

Links for Australian Visas:

Significant Investor Visa ( 68KB PDF file)
Significant Investor Visa – Frequently Asked Questions ( 90KB PDF file)

Other business Investment visas

Telstra plans to throttle customers internet speed

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Telstra is now planning to slow the speed at which its ADSL and Broadband  customers download content through peer-to-peer (P2P) networks in peak periods as part of a new trial to provide them with better bandwidth savings.

telstra shaping and throttling broaddband plans

A Telstra statement said it would be conducting the trial on a "small number" of ADSL customers in Victoria.

Broadband networks  have been coming under increasing pressure in recent times with the explosion of hand held devices like FAST smartphones and tablets  that now also add to the list of devices that consume internet , other than the traditional Desktop PC.

AS per a  statement , P2P networks are commonly used to download pirated material such as movies, music and video games and so  speeds of many consumers could be affected. Many popular software’s like torrents software’s and DC++ use peer to peer networks, including some chat messengers with the capability in the past.

As per media reports “the telco planned to introduce throttling as a "trial" that  could become permanent and which required users to opt out if they didn’t want to take part in it.The trial could begin as soon as this week.

Critics of ISPs says that interference with P2P  downloading or throttling could also affect users that use  peer  to peer networks for legal purposes.

"Once the trial is complete we will consider the results as part of our future network planning and product development activities," the company said.

Telstra published a blog post explaining its trial after Fairfax Media published this story.

Is Silver Surpassing Gold?

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Some long-term silver analysts are predicting a huge run on silver over the next few years. They also believe that the gap between the price of gold and the price of silver will be narrowed significantly. These silver bulls base their projections on historical data as well as current trends. This is good news to those of us that are fond of buying silver. After all, considering the price of gold, silver is one of the few remaining commodities that the average investor can physically hold in any large quantity. So why are these silver bulls so optimistic? Most likely it’s related to the driving force of all commodities: supply and demand.

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Supply Gold & Silver

For the first time in the history of modern mining, many of the world’s leading mines are coming up empty. It is estimated that 95% of all silver ever produced has already been consumed and unfortunately most of it ends up in our landfills. If the current supply of silver were evenly distributed among everyone on earth, there would only be enough for each of us to have 1/3 of one ounce. For many years now, the world has been using more silver than it has been producing, yet many people continue to assume that silver is abundant. That hasn’t been the case since the industrial revolution. Major government stockpiles from the past have slowly been sold off for industrial use. For years now the annual global mining production has not been able to keep pace with consumption, both investment and industrial.

Industrial Demand

As opposed to gold’s limited industrial applications, there are literally ten thousand industrial applications for silver.

It is essential to the production of medical, telecommunications, computer and automotive equipment, to name just a few. Silver has many useful qualities; the most valuable to the manufacturing sector is its unsurpassed qualities as a conductor of electricity. As electrical power continues its growing dominance around the globe, the industrial demand for silver is expected to continue to grow dramatically as well. Also, considering China’s mammoth appetite for precious metals that are essential to its continued dominance of product manufacturing, many insiders are projecting an even steeper rise in demand in the short term.

Investment Demand

Just like industrial demand, investment demand for silver is also at record levels and growing steadily. As more and more investors continue to embrace precious metals, many of them are seeing the incredible potential of silver. According to Bloomberg News, investors currently hold over 18,000 tons of silver-backed exchange-traded products, which is the equivalent of over eight months of global mining output. Morgan Stanley and Barclays PLC are predicting that investors will likely buy another 500 tons in 2013. Another sign of growing investment demand is the incredible popularity of the U.S. Mint’s silver Eagle coin. The mint is barely able to keep up with demand and there have been several occasions recently when the mint had to ration sales.

Even though gold continues to perform well and will likely remain the dominant precious metal for investment purposes, silver is likely to close the gap considerably in the very near future. When you consider the dwindling supply and growing demands from investors and manufacturers, you can begin to understand why the silver bulls are so optimistic.

Author Bio:

Jacob Harrison is a precious metals investment specialist from Australian Bullion Company, Australia’s oldest privately-run precious metals wholesaler and retailer.

Best home loans in case of bad credit history

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There is a substantial population in the world with bad credit scores. These people often find themselves totally sidelined from the others when it comes to raise money from banking institutions. The reason behind this neglect is the risk involved in handing out loans to people who may not possibly be able to pay the complete amount on time. However, bad credit home loans offered by some lenders have given hopes to all such people. Recently many players have arrived in the market to make most of the emerging sector of bad credit mortgages. The low doc or low documentation loans provide unique opportunity to bad credit borrowers.

home loans with bad credit history

Red rock is one such financial institution which is one of the leaders in the “bad credit market”. In the present times two types of loans are suggested by the top broking houses to the clients withbad credit history.

Low doc loans:

 

These loans are specially designed for the people that can not avail to the facility of regular loans from the banks because of their impaired credit history. These loans have given a golden opportunity to such people. It provides a unique opportunity to them in obtaining funds for future investment. Their broader types include:

1) Self declared

2) Account statement

3) Asset lend

In the case of low doc home loans the applicant is not required to provide of much of the paper work otherwise needed in the case of regular loans. The system works on a method called self-verification where the candidate has to declare his active source of income. The lenders decide, thereafter, if the application of the candidate is worth consideration or not. Low doc loans are one of the most innovative and sought out loans in the present market and provide lots of relief to the clients with bad credit history. They have completely revolutionized the financial market catering to a new set of client base.

SMSF loans

Self Managed Super Fund (SMSF) loans protect you against the economic depression and helps in the wealth creation. Very few options are present in the market that can provide you the unique opportunity of safe investment and wealth creation at one and the same time.

The SMSF home loans provide investors flexibility and tax relief, to an extent. SMSF loans are an exclusive lending facility that enables a borrower to use his pre-existing SMSF to borrow and invest in commercial properties including shops, showrooms, warehouses and other approved residential properties.

The only mandatory condition is to have a pre-established and compliant SMSF. The applicant is at a considerable advantage as his SMSF can acquire property worth more than the value of available funds in the personal account. Your SMSF assets are secure even in the case of loan default.

The process of Self Managed Super Fund loansis highly advantageous as tax liabilities can be condensed to a reasonable extent. The interest expenses can be claimed as tax deductions by the SMSF. This feature is not found in many other bad credit fund options. Therefore one should consider availing these opportunities as soon as possible.

Author Box: Red Rock Mortgage is an independent mortgage finance company specializing in property finance solutions for investors & borrowers with specialized lending needs

New breakthrough to produce Nano Gadgets by Australian scientists

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A group of  advanced materials scientists at Australia’s Scientific research institution where WIFI was invented , The CSIRO and the Royal Melbourne Institute of Technology believe they have found a way to make “Graphene” more usable in electronics applications.

australian Invention Csiro RMIT molybdenum

Australian Research Breakthrough for Nano gadgets  potential

By creating these layered nano-sheets with these materials  the CSIRO’s Dr Serge Zhuiykov said “electrons are able to zip through with minimal scattering”.

According to scientists “ Exfoliation is used to create sheets of their material around 11 nanometers thick, which they then turned into a semiconductor to fabricate transistors”

The result is a device with electron mobility greater than 1,100 cm2/Vs (centimeters squared per volt-second), which they state exceeds the current standard for low dimensional silicon and the current silicon chips that are used in todays electronics

Currently silicon chips are said  to have reached their limit in speed and ability  to store a  sufficient electrical charge for more power hungry devices

According to RMIT’s Professor Kourosh Kalantar-zadeh,  with this breakthrough find  the material can be used to create devices and gadgets that are not only smaller  but will also support faster data transfer speeds.

The researchers  said that more work needs to be done, before they can develop actual gadgets using this new 2D nano-material. This new material has the  potential  for a new electronics revolution.

The research included participants from Monash University, UCLA, MIT and lead author RMIT doctoral researcher Sivacarendran Balendhran and CSIRO

Credits:

Enhanced Charge Carrier Mobility in Two-Dimensional High Dielectric Molybdenum Oxide

  1. Sivacarendran Balendhran1,*,
  2. Junkai Deng2,
  3. Jian Zhen Ou1,
  4. Sumeet Walia1,
  5. James Scott1,
  6. Jianshi Tang3,
  7. Kang L. Wang3,
  8. Matthew R. Field4,
  9. Salvy Russo4,
  10. Serge Zhuiykov5,
  11. Michael S. Strano6,
  12. Nikhil Medhekar2,*,
  13. Sharath Sriram1,
  14. Madhu Bhaskaran1,*,
  15. Kourosh Kalantar-zadeh1,

US gun laws Now arms teachers

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The shooting massacre in the US town of Newtown – in which 27 people died, mostly little children aged just six and seven years old – has left America in mourning and has stressed the need for a national debate on gun control.

gun laws uS

(Credit: gabriel12 via Shutterstock)

This horrible massacrehas brought the nation to a tipping point? Does the US government have the political courage to take a stand?

But what has happened since then, Alarmingly quite the opposite  and instead of stricter gun laws the  teachers are now arming themselves. The political powers in the US  are controlled by the rich backing the NRA and the politicians , putting the powers in a weak situation with no power.

The NRA and the ISRA and Guns Save Life and the Second Amendment Sisters and CORE and the new kid, Illinoiscarry.com, began to work together and coordinate their efforts more and more, but alas its all falling apart.

The New York Times has referred to Australia’s gun laws as a "road map" for the US, saying that "in the 18 years before the law, Australia suffered 13 mass shootings – but not one in the 14 years after the law took full effect."

Philip Alpers from the Sydney School of Public Health at the University of Sydney looks back at how Australia tightened its gun control laws in 1996, on the CNN website.

On the ABC’s Religion and Ethics portal, Michael Stafford says America seems to love its guns more than the lives of its citizens.

We must re-establish a clear link between gun violence in our society and public policy. Passing an updated, and stricter, version of the old Assault Weapons Ban (which also prohibited high capacity magazines), coupled with a vigorous voluntary buy-back program targeting existing lawfully-purchased assault weapons already in private hands, as well as legislation closing the Brady Act’s gun show loophole, are critical first steps.

At the same time, we should also enact legislation applying strict limitations on the number of guns that people are permitted to purchase at one time – no more than one gun every three months sounds like a reasonable limit to me – coupled with mandatory waiting periods of a meaningful duration after any purchase is made before an individual can actually pick up their new weapon.

Read more

A former head of Australia’s anti-gun coalition says US president Barack Obama should use his status as a two-term president to push gun reforms through Congress.

CBS News reports:

The Utah Shooting Sports Council said it would waive its $50 fee for concealed-weapons training for the teachers. Instruction featuring plastic guns was to start Thursday inside a conference room at Maverick Center, a hockey arena in the Salt Lake City suburb of West Valley.

In Ohio, the Buckeye Firearms Association said it was launching a test program in tactical firearms training for 24 teachers initially.

A gun store in Texas also announced last week that it would offer teachers a 10 percent discount for a concealed carry class.

It takes just one armed teacher to lose his or her cool and pull the trigger on a defiant student to open another unfortunate chapter

Related Link:

Smallest Pistol in the world

Life Insurance for Young Adults

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Life insurance isn’t something that many young people take into consideration. In fact, most people don’t even think about purchasing life insurance until after they’ve gotten married and had children first. However, being a young, single adult doesn’t mean that it’s not in your best interest to look into life insurance. There are many reasons why it’s a good idea to explore your options at a young age.

young adult

Take the Weight off Your Family

Accidents and illness can strike at any moment, and being young doesn’t mean you’re bulletproof. Think about what you’d be leaving behind if something were to happen to you. Chances are you have some sort of debt collected that someone in your family would fall responsible for. Medical and funeral costs aren’t cheap, and many families spend more than they can afford to in order to make sure that their loved ones have a proper ceremony. Life insurance would help make sure that your family doesn’t have to take on any added stress at an already difficult time. If you don’t have much debt or close family, your money could always be left to a favorite charity or cause as well.

Provide for Yourself

Accidents and illness can put a halt on your ability to earn a living. Think about the resources you’d have if there wasn’t a way for you to provide for yourself. Government assistance can be a lengthy process and is rarely abundant, and most families don’t have a plethora of extra cash to fund medical bills as well as lifestyle habits. Income protection insurance can help guarantee your independence if you were suddenly unable to return to work for a long period of time. It can cover up to 75% of your monthly income to ensure that you don’t lose everything you worked hard for.

The Price is Right

When you’re young and healthy, insurance rates are at their lowest. Also, you’ll have had less time to accumulate driving citations and other offenses that might affect the cost of life insurance. Term life insurance is a good choice if you don’t want to pay a lot at once. It typically has lower premiums but only covers you for a set amount of time. Permanent life insurance is more expensive but gives you longer coverage and more benefits. Most insurance companies can change your term life insurance to permanent insurance with a fee, so you can get the fuller coverage when you can afford to pay more.

Experience

It’s beneficial to already have a policy if you do get married and have children. Most people jump into deciding on life insurance with hardly any knowledge on the subject. By starting early, you’ll have a good grasp on what decisions to make when you have more than yourself to look out for. Having life insurance when you’re young can also help guarantee your insurability later on in life.

Unfortunately, tomorrow is not guaranteed. It’s an uncomfortable thing to face, but life insurance really is a selfless decision. It helps to ensure that the people you care about are taken care of and left without any burdens in a tragic time. Many people act as though living to be ninety is set in stone. The reality is that anything can happen in an instant, so it’s important to be ready at a young age. There are many options available and talking with a reliable life insurance agent can help you find the right policy to fit your lifestyle.

Arlene Chandler is a freelance writer who focuses on preparing for the unexpected turns life can take. She currently writes for the Australian life insurance provider http://www.suncorp.com.au/insurance/life-insurance.