Looking for a House Loan? Here are some Personal Loan Features and Benefits

Looking for a House Loan? Here are some Personal Loan Features and Benefits

A loan requirement is not restricted to the middle-income group. The high-income bracket also requires frequent loans. People that don’t earn a lot have a higher loan requirement, but find it difficult to obtain a loan due to their credit scores.

Though difficult, it is not impossible for them to get a loan. They can choose other means for a low salary personal loan. Such loans are different from personal loans in terms of their eligibility criteria, the tenure of payment and the rate of interest charged. If you are property planning and looking to invest, loans are a smart move to look into. The features of these loans are discussed below:

No Income Related Criteria

When your income levels are low, you are forced to look at other sources of obtaining a loan. Within a bank, you can get a loan against your fixed deposits and gold. The gold loan can also be availed from NBFCs, which would be willing to accept other valuables as collateral against a loan. These loans do not consider your income as a deciding factor for loan disbursal. In desperate times, when a loan is absolutely necessary turning to low-value loans is the safest option.

Requirement of Collateral

As mentioned in the previous point, collateral is required in order to process these loans. Either in the form of an FD, gold, property papers, or documents for some other assets that you might possess, the presence of collateral becomes vital. The amount you can receive as a loan is in proportion to the value of the collateral. This is required to provide security to the lending agencies from defaulters. If a situation arises that the borrower is unable to pay the money, the agency is secure against a loss and will take over the collateral.

Higher Rates of Interest

The rate of interest varies depending on the collateral selected. If an FD is chosen as the collateral, the rate charged is only a little higher than what a bank would provide you with. In the case of gold, the interest generally ranges between 10-14% depending on the amount of money being borrowed. When a loan is being availed from NBFCs, you should be prepared to pay a hefty interest amount (about 14-20%), but this is completely dependent on the organization.

Choice of Tenure

You can choose to pay the loan quickly or you can decide to opt for a longer tenure depending on your capability. Though there is an upper limit to the length of the tenure, you can close the loan as soon as you wish without being subjected to any penalties. Consider a scenario when an expected payment is delayed and you have a pressing requirement for the day. You can take a loan and close it as soon as that expected payment comes in. This way you have effectively used a loan without over-paying.

It is possible to get a collateral free low salary personal loan from fintech organizations such as MoneyTap, which offer you low-value loans with interest charged only on the amount that you actually withdraw from the fund. The process of application is easy to understand and seamless, making it a pleasurable experience for you.

The Benefits of Active Life Communities and The Features That Make Them Enjoyable

The Benefits of Active Life Communities and The Features That Make Them Enjoyable

Active life communities are becoming more popular as early retirees look for new homes in places where they can remain active!

Rather than going part-time, or down the consultant route and staying home while the neighbours are all at work, these communities tend to be populated by people who still want to be active and engage with life on a daily basis.

Is Moving to an Active Life Community Right for You?

What will shock you if you hit up some tourist spots during the week when there’s no national holiday is that national parks and other venues are virtually empty. While many people have plans to travel after they retire, most find they prefer the comfort of their own home. However, it’s a bad compromise because they still feel a sense of adventure and wish to be physically active and involved but lack an appropriate outlet.

When having more time on your hands, but not being an octogenarian yet (try in thirty years), it presents a real dilemma. Most everyone you know is still working! So, if you want to have people around with free time – not sparingly just on the weekends – an active life community could be appropriate. If a nearby 18-hole golf course, a nearby swimming pool or tennis courts to play a game of doubles appeals, then you’re on the right track.

What Sort of Properties Make Sense?

New single-family homes or condos are very suitable within these types of adult lifestyle communities. They present the fewest problems with repairs and maintenance which would otherwise sap away free time to enjoy yourself. After all, the last thing you want is to be stuck indoors fixing heating issues or repairing leaking pipes.

Another way to go is with a new build in an existing community. Look to see if they can use heat recovery units which redistribute generated heat throughout the home by capturing it before it rises to the roof and is lost forever. These types of ventilation systems like the ones with Nuaire MVHR systems (https://www.bpcventilation.com/heat-recovery/heat-recovery-units/nuaire-mvhr) are very effective in keeping heating bills down in the colder months. This leaves more of your budget available to have fun.

Free Up Your Time

When getting older, you don’t want to use up your energy with endless chores. Having access to many of the daily requirements virtually on your doorstep makes life easier. This allows you to get more involved in community activities, spend time on shared hobbies or aid local charities by donating your free time.

Organizing trips to see different art galleries, museums of interest or plays at a local theatre is simpler to do when the people living nearby aren’t burdened with working virtually 24-7. Also, people who live in the area because they want to be more involved are more than likely to say yes.

Once you learn about active life communities, it either makes sense to you or it doesn’t. When it does, a new, better life awaits that’s filled with entertaining things to do with new friends.

The 5 Most Common Boiler Problems

The 5 Most Common Boiler Problems

Is your boiler not working as it should? From unusual noises to low pressure, there are several problems that frequently affect residential boilers!

While many of these problems can be fixed by making a few minor adjustments to your boiler’s settings, others can require more complex boiler repairs. Below, we’ve listed five common boiler problems that affect UK homeowners, as well as the most effective ways to fix them.

Unusual noises from your boiler

The hot water inside your boiler can interact with the materials used in the boiler’s construction over the course of months or years, leading to the buildup of limescale. This can result in your boiler making loud, noticeable banging, bubbling and “kettling” noises.

In order to six this problem, you’ll need to have your boiler’s contents flushed out. This helps to remove the built-up limescale, giving your boiler a cleaner interior that’s less likely to produce any unwanted noise.

Cold areas in your radiators

Over time, it’s far from uncommon for cold areas to develop in your radiators. This is usually the result of air and sludge building up inside the radiator, which can prevent hot water from flowing into certain parts of the radiator.

Most of the time, this can be fixed by bleeding your radiator, removing any trapped sludge and air that could be affecting circulation.

Switched off pilot light

Every boiler contains a pilot light — a small, blue flame that stays lit underneath your boiler at all times, even when the boiler isn’t in use. If your home’s gas supply switches off, or a wind blows through the area in which your boiler is installed, it’s possible for this pilot light to switch off.

Luckily, this is a quick and easy repair. If you’re comfortable doing so, you can use your boiler’s instruction manual to relight the pilot light by yourself. If you prefer not to do it yourself, you can also call in a Gas Safe engineer to relight the pilot light and get your boiler working again.

Drips, leaks and water damage

Over time, it’s possible for your boiler to develop one or several leaks, creating the possibility of water damage to your home. Leaks rarely occur in the tank itself — instead, they typically develop in the pipes that run to and from your boiler. Even a small leak can cause significant damage over time as water penetrates into your home’s walls, flooring and other building materials.

The best way to eliminate leaks is to regularly check the area around your boiler for moisture. If you spot any dampness that could indicate a leak, call in the experts as soon as possible to get it checked and, if necessary, repaired.

Low temperatures and lukewarm water

If your home never seems to reach the same temperature as your boiler’s thermostat, or your hot water is lukewarm at best even after running your boiler for hours, it could be an indicator that the thermostat isn’t totally accurate.

Just like the problems listed above, this is usually an easy fix. If your thermostat is adjustable, you can try adjusting it to better record your home’s temperature. If not, try replacing it with a newer, more accurate thermostat for better heating and hot water.

HVAC Installation Mistakes Hurting Your Home

HVAC Installation Mistakes Hurting Your Home

Do you have continuous problems with your HVAC system? Here are some common mistakes that occur during installation and some easy ways to fix them!

Ideally, you never think about your heating and cooling systems; they should be there when you need them. However, too many homeowners continue to battle with their HVAC systems — they run too much or too little, they make too much noise, they continuously break down and more. If you have always suffered under HVAC struggles, your problem might be the result of improper installation. Read on to find out the most common installation mistakes that cost you money — and how to fix them fast.

Leaky Ducts

By area, ductwork is by far the largest component of your HVAC system. That means there is a lot of space for something to go wrong. The most common problem in ductwork is leaks — and this also happens to be the most common cause of wasted energy. That’s because your HVAC system has to work harder to push air of the right temperature into the corners of your home. Worse, leaks are difficult to detect, and the symptoms are different depending on where in the system the leak occurs.

Leaks on the supply side, or the side that pushes conditioned air into your home, are perhaps the easiest to understand. This leakage results in heated or cooled air blowing into spaces that don’t need it, like your attic, your basement or your yard. Not only are you paying extra to condition air going into spaces you don’t use, but your system must work even harder to bring your home to the correct temperature.

Meanwhile, leaks on the return side, or the side that sucks air into the HVAC, mean that your HVAC is pulling more air from the attic than it is from your home. This doesn’t just impact the temperature of the air; it also builds up positive pressure, which pushes your conditioned air outside through gaps in windows and doors.

Fortunately, leaks are relatively easy to fix once they are discovered. If you rely on your HVAC year round, like residents of Washington D.C., you might want HVAC contractors to inspect your ductwork regularly to be certain you don’t have costly leaks.

Wrong Size

Obviously, if an HVAC system is too small for a home, it will need to work extra long and hard to maintain the right temperature, Whenever you add square footage to your home, you should ask an expert whether or not you need to upgrade your HVAC to accommodate the addition.

However, what many homeowners fail to realize is that HVACs can be too large, too. Most often, this happens when builders are rushing to finish a construction process and guess or improperly measure the home, but some contractors choose to install larger-than-necessary HVAC units or ducts to squeeze extra money out of homeowners or to attract homebuyers who don’t understand the difference. The larger an HVAC system, the more energy it will pull, meaning you will be paying more for heating and cooling than you need to. It is possible to downsize to a smaller system, especially if your HVAC is brand-new.

Poor Flow

Energy Star, the program that measures the efficiency of buildings, systems and appliances, states that without the perfect amount of airflow, no HVAC system will function effectively. Unfortunately, as with the size of an HVAC system, the ideal amount of airflow depends on the size and layout of your house. The main symptom of poor airflow are rooms of noticeably differing temperatures, especially when doors and dampers are wide-open and window coverings are shut. However, you can also purchase an air flow meter to better understand how air is moving around your home.

The best solution is, once again, to hire a professional, who will balance your air flow by calculating how much air each room needs and modifying your HVAC system appropriately. However, you can make small adjustments to air flow by adjusting dampers in rooms with too much air flow and using branch dampers inside your ductwork. However, going into your ducts does introduce the possibility of creating leaks, so professional service is strongly advised.

Improper Charge

No, you don’t need to charge your HVAC the way you charge your phone — but you do need to charge the refrigerant inside your air conditioner. Charge is used to describe the type and mass of refrigerant; over time, your HVAC will likely lose some amount of its charge, and in doing so, it loses efficiency in operation. However, it’s possible that when your A/C unit was installed, it was never properly charged Again, the right charge for your system depends on many factors, so it’s best to speak to an expert about what type of refrigerant your HVAC uses, what the charge should be and how to check it.

Since it is such a significant part of your home, you should spare few expenses to keep your HVAC up and running properly. To reduce inefficiency and enjoy the right interior temperature at all times, call an HVAC professional today.

3 Key Signs of Quality to Look for in a Sofa

3 Key Signs of Quality to Look for in a Sofa

Buying a sofa is an investment, making it important that you spend your money on something that’s built to last. The average sofa lasts for seven to 15 years. However, by buying smart, it’s possible to extend the average lifespan of your sofa to several decades or longer.


While it’s easy to find inexpensive sofas, finding something of quality is far more difficult. From low-cost furniture brands like Ikea to discount retailers, the furniture industry is often dominated by brands that prioritise cost over durability, build quality and materials.

Luckily, it’s still possible to weed out low quality furniture and focus on sofas that are built to last using a few simple tactics. Below, we’ve listed three signs of quality that you can use to identify a high quality sofa, all while ignoring options that aren’t suitable for your home.

A durable, well-made frame

The frame is to your sofa what the chassis is to your car — an essential platform on which the design and surface of the furniture is built. To last for decades, a sofa needs to have a strong, durable frame that can tolerate the wear and tear of day to day use.

Low-cost sofas typically have thin wooden frames, limiting their strength and making it far more likely for the sofa to get damaged over time. Quality sofas, on the other hand, tend to use metal or preferrably hardwood timber as a frame material.

When you’re comparing sofas, make sure to look at the frame material. While metal frames are okay, you’ll generally get the longest life out of sofas made from hardwood timber, which is more capable of withstanding the stress of regular use.

High quality upholstery materials

Sofas are available in a huge range of fabrics, from simple cotton to a massive range of different leathers. Just like low quality fabric can affect the comfort of clothing, the wrong fabric can affect the level of comfort and enjoyment you get from your sofa.

While there’s no “best” fabric for every sofa, there are some fabrics that appear more frequently in recommended lists than others. For simplicity and easy cleaning, a high-thread-count cotton can be a great choice; for luxury, it’s tough to beat a soft, full grain leather sofa.

Ultimately, upholstery fabrics are a matter of taste as much as quality. Real Homes has a great guide to sofa fabrics that goes into more detail on the strengths and weaknesses of a range of different options, covering everything from patterns to pet-friendly materials.

Attention to detail 

Focusing on attention to detail can help you separate high quality, durable sofas from low-cost, lower quality options that aren’t worth considering. Here’s why. If a sofa has bad stitching, torn fabric or other visually obvious issues that you can spot on your own, there’s a good chance that it also has other issues — potentially serious ones — that aren’t as easy to spot.

When you’re comparing sofas, take a look at the minor details. From the tufts of a Chesterfield sofa to the piped edges of a Tuxedo sofa, take a look at the quality of the minor details — they’ll often tell you far more about a sofa’s overall level of quality than you’d initially think.