With more people than ever before using sites such as Airbnb when they travel, now is the perfect time for homeowners and landlords to take advantage of this lucrative market. After all… recent research released by Airbnb has revealed that UK ‘hosts’ earned more than £657million through the site in the year to July 2017, which works out at about £3000 a year.
A budget plays a crucial role in helping IT contractors live without a guaranteed income and still maintain their quality of life, even during periods between contracts. But how should you go about creating a budget you can rely on? These are our top tips…
Bank statements… we all have them, whether you receive paper or electronic you get them and they’re a window into the activity your bank account has in a month. It’s not a surprise then that bank statements are something lenders and brokers ask for during the mortgage application process.
With an increasingly volatile property market, it is becoming harder to get your foot on the property ladder. With an estimated 1.75m renters believing they will never own their own home* things do look bleak, especially if you’re considered an independent professional (contractors, freelancers, self-employed, etc.) or have a complex income.
As of Wednesday 2nd August 2018, the Bank of England have raised the base rate to the highest level since March 2009, from 0.5% to 0.75%. This is the official borrowing rate, so it’s what banks and other lenders are charged when they borrow money. A change in the base rate can affect what borrowers pay and what savers earn, so if you’re saving, a rise is generally positive news.
Deciding when to buy a property can be a challenging prospect, especially in a volatile marketplace, which is constantly changing!
But can buying a home at a certain time in the year really make a big difference?
The answer is yes, and it certainly pays to know when to turn this into your advantage. After all… the vast majority of house prices are based on demand, and the bigger the demand, the more you can expect to pay!
From a young age, I always had the ambition of becoming an entrepreneur and wanted the exciting challenge of being my own boss.
Today I’m now CEO of a growing start-up. iContract started as a lightbulb moment from my contractor career, but now it’s a real thing after years of hard work.
If you’re thinking of becoming a contractor, one of the first things you will need to do is to set up your own company to trade under. Although this process may seem daunting to the uninitiated, it is a fairly simple process in reality, and professional help is widely available. Here are some things to bear in mind before you set up a company.
Why go limited?