Oct 17, 2014
Lighting circuits

How to wire a 2-Way Switch or how to wire a 3-Way Switch or even how to wire a 4-way switch, but also teach you a little bit of theory on how the circuit is controlled. So if your a little green but yet a do-it-yourselfer, hopefully I can get you the basic information you need to get the job done.

Posted at 02:10 am by masthaven
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Feb 26, 2013
How to wire a plug

Ever need step by step instructions on how to wire up common plug types:

How to wire a 13 amp UK plug
How to wire a trailer plug
How to wire an XLR audio plug

Posted at 04:03 am by masthaven
 

Feb 14, 2012
Buy Dermalogica

We are proud to support Beauty direct to home with their new online venture beautydirecttohome.com

Now stocking all Dermalogica products:

Dermalogica cleansers

Dermalogica toners

Dermalogica exfoliants

Demalogica Moisturisers

Dermalogica masques

Dermalogica Age smart range


Posted at 04:43 am by masthaven
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Oct 20, 2011
Electric gates and gate automation

Countryside Automation has over 15 years experience in all aspects of supply and installation of electric automated gates in Essex.We also supply and install rising barriers and rising bollards for enhanced security.

Electric remote control gates

Our gates can be manually operated or fitted with electric actuators for automatic and remote control opperation (see electric gate safety features). We also supply a number of electric gate accessories such as intercomms. CCTV and other entry control systems.

Electric gate maintenance

Our comprehensive electric gate maintenance plans offer complete peace of mind and ongoing security.

Our vast experience covers light commercial, heavy-duty commercial, industrial and residential gate installations. This means we can advise on, specify and supply exactly the right equipment and accessories to link into virtually any application.


Posted at 01:45 am by masthaven
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Jun 28, 2011
Ceiling rose wiring

Check out my new site: wiring a ceiling rose

Posted at 07:11 am by masthaven
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Mar 30, 2011
Masthaven bridging finance wins highly prestigious Business Moneyfacts awards

Masthaven Bridging Finance was the very proud recipient of not one, but two awards at Thursday evening’s highly prestigious Business Moneyfacts awards.

Hosted by TV funnyman Hugh Dennis, the awards were presented in the grand surroundings of the Grosvenor Square London Marriott hotel, in front of over 500 of the finance industry’s leading lights.

After the champagne reception and a sumptuous 3 course meal, the excitement level reached fever pitch as the awards were read out. The first category for Bridging finance was for Best Lender, in which Masthaven got a very welcomed Highly Commended award, received to warm applause.

The next category, and often the most difficult to win, was for Best Service from a bridging finance provider, as Hugh read out “and the winner is.......Masthaven Bridging Finance” there was a huge cheer and the whole room got to their feet to applaud.

After many handshakes and slaps on the back, Richard Deacon, Sales and Marketing Director said “ This is a tremendous achievement to win this award and also get the highly commended award in the other category. 1st and 2nd in two events is a great result for the team as a whole, as winning a service award is about the entire team from the point of first contact a broker has with Masthaven right through to the completion and often after that to redemption. I am very proud to be working for such a dynamic company”

Photo of (from left to right) Lee Tillcock (Editor Business Moneyfacts), Richard Deacon (Sales & Marketing Director, Masthaven), Andrew Bloom (Managing Director, Masthaven), Hugh Dennis


Posted at 04:29 am by masthaven
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Mar 23, 2011
A quick guide to the types of bridging loan available

Open Bridge loan

An open bridge is where the repayment method is undetermined at the point of initial enquiry. Almost all bridging loans are now open bridging loans because the repayment method is rarely guaranteed. Usually it will be refinance or sale of property. If refinance, the lender can pull the product that the client requires at a moment’s notice and then the client has to then go and find a different product to apply for. Similarly, sales of property fall down at the last hurdle quite frequently due to a variety of reasons. Most bridging companies now deduct the term’s interest from the advance of the loan and repay what is not used as this gives them extra security knowing that the interest is paid for the term of the loan.

Closed Bridge loan

A closed bridge is where the exit route is in place and has already been agreed. Several years ago this was called back to back, or day one remortgaging and tremendous amounts of business were transacted between bridging companies and first charge mortgage lenders, primarily Mortgage Express. With the vast changes that have occurred in the financial world in the last 3 years there is realistically no such thing as a closed bridge nowadays because lenders can pull products at the last minute with no warning, and as has always happened, prospective purchasers can also pull out of a transaction at the 11th hour.

First Charge Bridge Loan

A first charge bridge loan is where the lender takes a first charge over a property above all others. This is usually done when a purchase takes place, but with FSA regulated loans this can be done on a main residence where the client wishes to downsize or raise capital for other purchases.

Second Charge Bridge Loan

As its name suggests, this is where the lender takes a second charge behind the existing first charge lender. Not to be confused with a secured loan, second charge bridging loans are only for a small period of time (typically up to 12 months) where the money is being raised for investment use or business purposes.


Posted at 06:16 am by masthaven
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Common uses for a bridging loan

Bridging loans can be used for a variety of different reasons; these range from auction purchases, to a borrower needing funds urgently because their original lender has let them down at the last minute.

Emergency funds may also be needed to ease a temporary business cash flow problem, or to pay a tax bill. Perhaps you are trying to complete on an urgent business deal but find yourself unexpectedly short of funds and need the bridging loan as the final piece of the jigsaw.

A number of borrowers use bridging finance to provide capital to add value to an existing property. An example of this is via refurbishment being carried out and they need the funds to carry out the work and on completion of the renovation they will either sell or refinance to a long term lender.

Buy to Let investors like using bridging finance to facilitate the purchase of property that they must complete on quickly and don't have the 4 - 10 weeks available to wait for traditional BTL mortgage.

So, what are the main reasons why bridging finance is used?

Speed - Investors are increasingly using bridging loans as a useful way to expedite the completion of their proposed transaction. Bridging lenders regularly provides funds to clients within seven working days, but in urgent cases funds can be released within 72 hours.

Condition of property - Traditional lenders, especially on buy-to-let mortgages, will often put 100% retention on a mortgage if the property has no kitchen, no bathroom or is in poor condition. A good bridging lender does not operate this retention system and instead bases its lending on the value of the property in its current condition.

Auctions - In auctions the buyer needs to raise the funds usually within 28 days of the hammer falling but due to uncertainty of success the buyer often does not want to go to the expense and inconvenience of obtaining finance prior to the auction taking place. Therefore the buyer waits until they know if they have been successful and then once the hammer has come down they arrange a bridging loan for completion. Often the reason for the bridging may be a combination of both speed but also, especially if it's a repossession, the condition of the property.

Chain breaking - You may have found your "dream house" but are unable to sell your current house within the necessary time frame. In these situations, a quality bridging lender will provide a bridging loan secured against your current home in order for you to transfer your current residential mortgage to your new property. You will then repay the bridging loan from the proceeds that will be generated from the sale of your current home.

Non status - With property based lenders, Income multiples and rental calculations do not form part of the underwriting process. A good lender is also open-minded regarding your credit history.

Second charge lending - Choose a lender willing to provide loans even when there is an existing mortgage on the property. This service can be useful if you have a significant amount of equity in your property, require funds for a short period of time (less than one year) and would prefer a second charge loan rather than a remortgage or a further advance on your current mortgage.

Be sure to choose a lender with no hidden fees in their terms, hence the company's clients don't get any nasty surprises upon completion.

Also, choose a lender who does not charge exit fees - ever - and interest is charged on a daily basis. This combined with competitive rates means that the borrower is really getting the best deal out there in the short term lending arena.

Posted at 06:11 am by masthaven
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