Wednesday, April 10, 2019

10 Manageable Tips when Dealing with Job Redundancy

10 Manageable Tips when Dealing with Job Redundancy
What do you do when you are told, “we are going to have to make you redundant”?

What do you do when you don’t have to wake at 7:30am anymore or enjoy the rush hour traffic and instead sit and home and watch day time TV all day?

It’s not a pleasant situation and can be embarrassing to tell your friends and family that you are losing your job. In most cases it will come out of the blue and suddenly you will be faced with an uncertain future.

Unless you have heaps of spare cash in your bank account or were secretly planning to leave anyway times like this can be very stressful.

With thousands affected by the downturn and big cuts in budgets, where can you turn too and what is your next step?

Sunday, April 7, 2019

Mortgage Insurance

Mortgage Insurance

Mortgage insurance: features and requirements

Mortgage for many citizens is the only opportunity to buy their own homes. Therefore, people often turn to banks for processing such a loan. For this it is important to meet numerous requirements so only citizens who are solvent, responsible and have a good credit history can count on such a large loan. At the same time, banks additionally impose mortgage insurance. The purchase of an insurance policy for an object to be purchased is regulated by law, so it is impossible to refuse it. The acquisition of life insurance is usually imposed by banks, so if borrowers refuse to purchase such a policy, then they have to face high-interest rates.

The concept of mortgage insurance

Mortgage insurance is represented by special insurance that protects the lender from possible losses. They may arise if a borrower defaults or if other reasons arise that will not be able to recover funds from the debtor by selling real estate purchased through a mortgage.

Such insurance is considered protection against credit risks. It is realized with the help of insurance of the purchased object, title or the life and health of the home buyer. In this case, the lender is always the beneficiary, but the payer is only the borrower.

Who is developing the industry?

The state is mainly involved in the development of such an insurance product, since the Government is trying to improve conditions for citizens to receive mortgage loans. In foreign countries, buying insurance is considered a must for citizens, but in Russia many people have a negative attitude towards such expenses. At the same time, legislation is regularly amended regarding the rules for the purchase and use of insurance.

At the expense of mortgage insurance, you can protect the borrower from many negative consequences, so if for any reason he loses the purchased housing, the insurance company will have to return the mortgage.

Main types of insurance

When making a mortgage, the bank insists on buying various insurance policies. Only one of them is compulsory by law, so you need to buy insurance for the property you are buying. Other types of policies are not mandatory, so citizens can refuse to purchase them. This usually leads to the fact that the bank simply refuses to provide a loan or offers too high interest rates.

Mortgage insurance can be presented in several forms:

Insurance of purchased property. This policy is mandatory by law, as it provides protection against loss or damage to the collateral. If an insured event occurs, the funds for the loan are returned to the bank by the insurance company. The cost of mortgage insurance of this type depends on the price of the property itself. Usually, insurance companies charge from 0.16 to 0.5% of the value of the object. The price is affected by the likelihood of an insured event.

Life and health insurance. Such insurance covers the borrower's expenses if he is applying for a disability or has a disease that prevents him from continuing to work and receive money.

Additionally, it fully covers the entire mortgage loan if the debtor dies. In such circumstances, relatives will not have to take responsibility for payments. The conditions of such a policy may vary significantly in different companies. Compensation will not be paid if the citizen deprives himself of his life or has an accident while intoxicated. The price of such insurance depends on the remaining debt, and also varies from 0.3% to 1.5% of the amount. Additionally taken into account the age of the borrower and his health.

Title insurance. This policy is considered specific. On the basis of it, the costs associated with the loss of the borrower's right to the purchased object are covered. This variant of the insurance policy is usually used if an apartment is purchased which is located on the secondary market, therefore there is a possibility that a citizen will have to face scammers. The cost of the policy is in the range of 1.3 to 1.5% of the size of the mortgage loan.

Comprehensive. This policy is offered only a limited number of insurance companies. It provides protection against a large amount of insurance risks, and its value is much less than the purchase of several policies separately. Payment varies from 0.3 to 2 percent of the size of a mortgage loan.
The choice of a particular option depends on the borrower and the requirements of the banking institution.

Features of such insurance

The rules of mortgage insurance are significantly different from the rules that are used when buying a standard insurance policy. A special feature is that the beneficiary under the contract is not the client of the insurance company, but the credit institution that issued the funds for the purchase of residential real estate.

If an insured event specified in the contract occurs, the insurance company will pay compensation to the bank. The amount of the payment may not exceed the amount of outstanding debt.

You can buy a policy annually or for the entire loan period. The first option is considered the most acceptable, since under such conditions the financial burden on the payer will not be too high. Insurance payments for a mortgage by many borrowers are called the thirteenth payment, since their size is approximately equal to the payment on the loan.

Directly in the loan agreement prescribes the obligation of the borrower to insure the purchased property and their lives. If a citizen refuses to purchase these policies, then this may lead to an early termination of the agreement, an increase in interest rates or other negative consequences.

Can banks legally require the purchase of a policy?

The need to purchase insurance is determined by the provisions of the Federal Law No. 102, which indicates the need to insure the mortgaged property represented by the apartment or house being purchased. On the other types of insurance information is not available.

In Art. 935 GK states that personal insurance should always be voluntary, so banks do not have the right to insist on the purchase of such a policy. But most banking institutions require the purchase of personal mortgage insurance. If the borrower refuses to comply with these conditions, he faces various negative consequences:

  • refusal to provide a mortgage loan;
  • a significant increase in interest rates;
  • early termination of the loan agreement, if this condition is written in this document.

Some banks do require the purchase of title insurance, although customers may opt out of such insurance. Judicial practice shows that banks often win such cases, as they have the right to refuse to issue credit funds without substantiating the reason for such a decision.

What insurance claims are included?

The mortgage insurance contract can be concluded directly with a banking institution or an insurance company. Will have to choose a company accredited in the bank. Standard when buying insurance for an apartment to obtain a mortgage is required to insure the home from various insurance claims. These situations include:

  • a fire that causes damage to the insured property, even in a situation if it did not arise in the apartment, but outside;
  • different types of natural disasters;
  • gas explosion;
  • flooding caused by an accident in the water supply system, sewage system or heating system, even in a situation where water has entered the apartment from other residential premises;
  • the fixation of illegal acts committed by third parties, for example, robbery or vandalism;
  • falling on the apartment of various aircraft;
  • detection of defects in the building, and they should not be known at the time of the conclusion of the insurance contract.

Citizens who select the best insurance should remember that if a policy is bought with a minimum package of insurance claims and services, then compensation is paid only in a situation where the housing is actually caused significant damage. Therefore, it will not be possible to arrange insurance if the wallpaper is damaged as a result of flooding or the window is broken by the hooligans. Mortgage insurance allows you to avoid significant losses in case of property damage. Therefore, such insurance is required by law.

Life insurance claims

People need to prepare for significant expenses if they take out a mortgage loan. Life insurance is required by each bank, and if citizens refuse to issue such a policy, they usually face waivers or excessively high interest rates.

When purchasing such a policy, the insured person may receive compensation if the following insured events occur:

  • the death of a citizen resulting from an accident or illness that appeared after the purchase of insurance;
  • loss of working capacity, for which the first or second group of disability must be registered.

Other significant conditions for obtaining compensation are written directly into the contract drawn up with the insurance company.

Where to buy insurance?

Banks insist on buying a policy exclusively in accredited companies. Some large institutions offer their own insurance.

The most famous are insurance Sberbank, Alfa Bank and the company Sogaz. Each organization has its own conditions and requirements for the insured.

Many citizens prefer to draw up a mortgage in Sberbank, since this organization is considered large, reliable and offering favorable conditions. At the same time, the company draws up mortgage life insurance. Sberbank offers a policy on the property, the value of which should not be more than 15 million rubles.

To purchase the policy is paid 0.25% of the remaining debt. Therefore, Sberbank mortgage insurance will be cheaper every year.
Insurance in VTB
VTB offers the opportunity to purchase only comprehensive insurance. A contract is made for the entire term of the mortgage loan, but it requires renewing the certificate annually.

The cost of insurance is 1% of the size of the mortgage loan. The percentage is reduced annually if there are no problems with the repayment of the loan.

Many people buy a policy at AlfaStrakhovanie when they buy a mortgage from Alfa Bank. Mortgage insurance is offered under the following conditions:

  • the application can be submitted via the Internet;
  • the application is considered promptly;
  • each borrower has its own insurance cost, which depends on the mortgage debt;
  • It offers comprehensive insurance that covers the risks associated with the inability of the loan to be returned by the borrower for various reasons;
  • insurance of property, life of a citizen and title;
  • an agreement is concluded for the entire term of mortgage lending, and the agreement is terminated at the moment when the loan is fully repaid;
  • contributions are transferred annually.

If the borrower plans to pay off the mortgage ahead of schedule, he can count on recalculating the cost of insurance.

Quite often, people in order to purchase a policy turn to the insurance company Sogaz. Mortgage insurance is a sought-after offer of this organization. Risks are insured against the death of the borrower or disability. If a first or second disability group is issued by a citizen, the mortgage is paid off by the insurance company.

The cost of the policy depends on the balance of the debt, so you will have to contact the bank annually for the relevant certificate. The price is set within 1% of the outstanding balance. When buying a policy, each citizen can choose additional services that increase the cost of insurance, but this increases the number of insurance claims, upon occurrence of which compensation is paid by the company.

How is the contract drawn up?

Mortgage life insurance and apartments can be offered in one contract, but most often two agreements are required. For this, the following actions are performed:

  • select the appropriate insurance company;
  • the necessary documents are transmitted to the employee of the organization
  • the cost of insurance is calculated;
  • a citizen is studying the proposed contract;
  • if the parties agree to all the terms, an agreement is signed;
  • paid insurance policy.

It is necessary to renew the insurance annually, and if the citizen refuses this process, this may lead to an increase in the interest rate or early termination of the contract.


When you make a mortgage loan you have to face the need to purchase insurance for the apartment and the life of the borrower. Insured events may vary significantly between companies. Should choose an organization accredited in the bank, where it is planned to obtain a mortgage.

When choosing a company, not only the cost of insurance is taken into account, but also related services. Refusal of insurance can lead to numerous negative consequences for the borrower, for example, an increase in overpayment and interest rates, as well as often banks terminate the loan agreement and demand a refund.

The Ultimate Guide to Common Interview Questions

The Ultimate Guide to Common Interview Questions
When you are attending an interview the employer will ask you various questions to gain a better understanding of your personality and if you are right for the job.

Why not be one step ahead and prepare some answers to the common interview questions which you are likely to face?

Biographical Interview Questions

These types of questions vary, but essentially are trying to establish what you are like as a person. Typical questions may include;
  •     Tell me about yourself?
  •     How would friends and family describe you?
  •     Why did you apply for this job?
  •     Why are you leaving your current job?
  •     Where do you see yourself in five years time?
  •     What are you strengths/weaknesses?

5 Essential Tips when Preparing for an Interview

5 Essential Tips when Preparing for an Interview
During your job search, you will hopefully be invited to attend an interview with a potential employer.

Feeling nervous, pressured to perform well or having little interview experience are all normal feelings and situations.

Here are some essential interview tips to help you overcome these problems and to make sure you get the most out of the interview.

Selling yourself

The main focus of an interview is finding out about you. Finding out about your skills, experiences and personality are the three main things employers are looking for.

Thursday, April 4, 2019

The correct way to deal with an unwanted job promotion

The correct way to deal with an unwanted job promotion
When you are called into the boss’ office thinking you have done something wrong, to be then told your work is great and to be offered a promotion your natural reaction is to be flattered, but what do you do when this new job role wasn’t what you are looking for?

Is my Job going in the wrong direction?

You may have a clear picture in your mind what you what to do and achieve. You may be hoping for a promotion in a different department or different type of job. It is also possible that you don’t want a promotion at all.

You like the current people you work with and the daily work you have to do you could happily do for longer.

What happens if I turn down this promotion now, will I get another chance again?

Wednesday, April 3, 2019

Top 5 CV Tips

Top 5 CV Tips
Your CV is the first thing that employers will view but forgetting the basic rules could see it end up in the bin rather in the shortlist pile!

Here are the top 5 CV tips that will ensure you’re not performing any schoolboy errors.

1. Contact Details

Make sure you have included your contact details clearly within your CV as this ensures employers are able to get in touch with you.

You should always include your name and your home address as employers like to gauge where you might be traveling from. As an added benefit, if your employer is aware of where you live, this sometimes can become a topic of conversation at an interview.

Including at least your home telephone or mobile number is vital and adding your email address can add an extra method of communication. This can also help as some employers may be keen to send you documents, for example a job specification.

Adding social networking links such as your LinkedIn profile can also provide another means of contact for your employers. Make sure you only include links to external sites which you feel are appropriate for the employer to view.

Securing Jobs in Retail | Career Advice and Guidance from Jobs River

Securing Jobs in Retail | Career Advice and Guidance from Jobs River
The retail sector is one of the biggest employers in the UK, with over 3 million people working in thousands of stores up and down the country.

But during this economic downturn and shops disappearing every day, how can you still find and secure jobs in this market and is there still hope in retail?

From part-time to Managing Director

One of the best ways to get into the retail sector is by starting out working at weekends as a part-time staff member. Unlike the standard working week, shops hardly ever closed. This, therefore, works in your favor, as more shifts and job opportunities become available. Gaining this experience is near, if not more important than qualifications on your CV.

Imagine if you were severed by someone who lacked the basic communication skills, as a customer would feel uncomfortable and unlikely to return to the store.

Jobs in Pakistan Air Force 2019 - Apply Online Now -

If you are searching for latest commission officer jobs in Pakistan Air Force (Join PAF) for 2019 session than you are on the right page of the internet and Pakistan's best jobs website as we are updating this website with daily and as advertised PAF jobs. As you know PAF Jobs and career opportunities are very strong and people seek them on daily basis, we provide them the ads of PAF jobs from many trades and branches like GD (P) Course, Air Defence Course Jobs, Aeronautical Engineering, Legal and Accounts Branch Based Courses to Join Pakistan Air Forces.
 Jobs in Pakistan Air Force 2018 - Apply Online Now -

PAF also offers jobs by SPSSC (Special Purpose Short Service Commission) for Admin branch, Education branch, Logistics branch, Accounts branch and as an Education Instructor or Religious Teacher one can join Pak Air Force and not just that but also offers Permanent Commission as GD Pilot, Engineering Cadets Jobs and in other trades or branches with Short Service Commission called SSC at PAF and after the completion of the training the candidate will become Pilot officer.

Jobs in Pakistan Army 2019 - Apply Online Now -

Here on this page of Pak Army Jobs 2019 updates with current available jobs in Army and opportunities at Pakistan Army are available. We are going to guide you about how to Join Pak Army with details of the required information and documents and the criteria of selection by Pak Army like eligibility, education level and age limit and more. Pak Army is most famous by the name of Pak Fauj and Pakistanis loves it. Being one of the best Armed Forces of Pakistan, Pak Army is doing great with land-based service branch. As of today Pakistan Army is standing in two main branches and they are Arms and Services. As Pak Army is filled with non-commissioned and commissioned officers in departments anyone can join pak army.
Jobs in Pakistan Army 2018 - Apply Online Now -

To join Army there is a small criteria for education level like Intermediate (FA, F.Sc or ICS), Bachelors (BS, BA, B.Sc, BCS or and Masters (MA, M.Sc, MBA or M.Com) and also you can join Pak army by completing SSC (Short Service Commission) test, SPSCC (Special Purpose Short Service Commission) test, PMA Long Course, Graduate Courses and Lady Cadet Course (LCC). As you are here by searching for how to join pak army and latest pak army jobs than you can find them right here on this page.

NTS Jobs 2019

NTS Jobs 2018 on with a list of all of the new job opportunities in Pakistan by NTS (national testing service) for you is updated on daily basis and we are sure that you will not miss a single update about latest nts jobs in Pakistan. To get more often updates about current Job openings by NTS with application forms, notifications of jobs, test schedule and result announcements stay tuned to this page.

NTS Jobs 2018
NTS is performing great in terms of conducting different test exams for admissions and jobs in whole Pakistan and also it is useful for assessments and scholarship or recruitment with promotional test exams and results. When there is a new job opportunity and NTS is selected for testing purpose NTS will announce NTS jobs and NTS Recruitment Test Dates on its official website at and on newspapers. That's why people in Pakistan often search for paperpk job ads for NTS jobs and test dates with exam results.

So if you are looking for newest and all current jobs in NTS than visit below link and stay tuned to this page for getting latest updates about current job openings at NTS for the year 2019. As we are going to update this page with lots of other information and every update about new job opportunity at NTS: