theautofinancebusiness.com

By Scott James

Without wishing to stretch the imagination Turkey for those who don’t know it is a huge country located in south Eastern Europe. Of course this is a moot point because technically the Bosporus is where Europe meets Asia

Turkey borders the Black Sea between Bulgaria and Georgia. Turkey also borders the Aegean Sea and the Mediterranean Sea between Greece and Syria

This makes Turkey slightly larger than the state of Texas (this last point is added for the sake of our American friends). With a landmass extending to some 780,580 km² in total area, 9,820 km² of which is water. Turkey has 7,200 km of coastline and what can be described as a temperate climate with hot dry summers and mild wet winters.

Turkey occupies a strategic location controlling the Turkish Straits, (the Bosporus, the Sea of Marmara and Dardanelles) which link the black and Aegean seas; Mount Ararat, a location extremely well known to most biblical scholars or Sunday school pupils is of course the legendary landing place of Noah’s Ark and is in the far eastern part of the country.

Turkey’s dynamic economy is a complex mix of modern industry and commerce, which along with the traditional agricultural sector still accounts for more than 35% of all unemployment in the country. Turkey has a strong and rapidly growing private sector yet it is the state that still plays a major role in basic industry, banking, transport and communications sectors.

Within the Turkish economy the largest industrial sector is textiles and clothing and this sector accounts for more than one third of industrial employment in Turkey but it faces stiff competition in international markets with what is called the end of the global quota system.

One of the key reasons for taking a look at Turkey at the moment is primarily to examine its full potential for property investment. According to experts the future prospects for Turkey are very positive indeed and this has had a knock on effect directly through to the Turkish property market, where investor interest has apparently surged throughout 2005/6 and where property prices are apparently beginning to creep up fast.

Though property prices in Turkey may lag about 10 years behind those in Spain this trend is starting to change and the gap is starting to close. Turkish properties have surged in both interest and value particularly along the Riviera region in southern Turkey.

What has acted of course as a catalyst to the Turkish property market was the announcement that Turkey is now in line for full EU membership and since this announcement, investor confidence in Turkey has reached record proportions.

One of the most crucial foreign currency earners for Turkey is its revenue from tourism. This rose 14% in 2005 to 18.15 billion US dollars just beating the government official target.

Because the Turkish tourism Board is spending a lot of money promoting the resorts along Turkeys Riviera coast the result is that second home, holiday home and retirement home interest in these parts of Turkey has surged. For those looking to invest in the economy this is highly encouraging.

If you know where to look, there are bargains to be had with the Turkish Property Market

Scott James writes about a number of Internet based issues such as Real Estate Investment and Real Estate Marketing. A keen proponent of all aspects of free and independent services available, he advises clients to look at the whole mix of online services available.

It is said that addiction can be defined in a great many ways and examples. Perhaps the most obvious one being the view that addiction is an unhealthy dependency on any substance or form of activity, behaviour that has a potentially negative or destructive consequence that could cause considerable distress for the person or persons involved.

Phew what a mouthful eh?

I bet everyone has their own picture or image in their mind of what a drug addict is? Possibly it is the classic image of the junkie scratching around to get his or her latest fix of heroin. The really sad thing about this is that although this does actually happen, as an image of the typical drug addict, it is way of the mark as far as the majority of drug users are concerned. The vast majority of addicts do not conform to this generalisation in any way shape or form.

The bottom line is that addiction can strike and affect anyone out there and let’s be honest there has never been a better time possibly to be an addict with such a range of mind altering substances available.

Though not freely available to the general public it is certainly the case that if you know what you are doing then these substances can certainly be procured.

As I mentioned, addiction can affect anyone and can be as a result of the use or over use of many a legitimate product such as tranquilisers and sleeping tablets as well as the misuse of illegal substances such as cocaine and cannabis.

What causes an addiction? Well the classic causes are usually if you have a person who is having problems with a relationship or even finding a relationship, work/career problems or some forms of extreme emotional instability for whatever reason.

Let me make one point quite clear at the outset, addictions don’t just happen, they have to have an underlying cause that stimulates the body into seeking some form of artificial stimulation to cater for some inner craving.

The other really sad aspect and bizarre element to the whole problem with addiction is that by and large, depending on why the person is reacting in this manner, the chances are that one of the reasons for addiction was that at the outset the activity that caused the addiction was probably pleasurable in some form or another.

It is a chemical reaction within the brain that associates pleasure (certainly in the first instance) with the consumption of drugs at the outset and only when these feelings begin to wane does the need for replacement begin to cause problems. The sad and dangerous aspect to all of this certainly with regards to drug abuse is that by and large to start with it was probably a social event that caused the whole problem to start in the first place.

One last point to consider in this brief introduction to substance abuse and addiction is the effect it has on the families and friends of the dependent person.

Those families and friends who watch their loved ones sink ever more into some form of dependency or another suffer terribly both mentally and

Scott James writes about a number of internet based social issues such as Substance Abuse and Drug Rehabilitation. A keen proponent of all aspects of free and independent services available, he advises clients to look at the whole mix of online services available at http://www.addictionsearch.com

By Scott James

There’s nothing quite as safe as houses – or so they say, but in this climate of the various stock exchanges going up and down is this totally true? Sure, the news about surging housing prices and rising interest rates is never out of the news.

Loads of Home and Property programmes swamp our daytime (and our night time) viewing on the TV schedules and where does this all lead us?

Well it’s a well known fact that most of us have thought that we can all climb onto the property ladder at some time or improve our bricks and mortar assets to realise those ridiculous price levels that seem to be occurring time and time again.

Now they say it’s official. Property is now more reliable than our pension provision (though with the performance of a certain Mr G Brown at 11 Downing street this does not say much) and apparently it is also more reliable than Gold and yes we all knew this last fact that it can be more profitable than working for a living if you are lucky.

The trouble with all of this massive growth in the domestic market for refurbishment and spiralling prices of reselling homes etc is it any wonder that the intelligent and smart property investor is starting to look elsewhere other than good old Britain to make smart gains and returns. But where?

Well there are a whole plethora of reports that say that house prices and property in places like Bulgaria, Croatia, Estonia and even Hungary are returning vast sums of profits for property developers so it would appear that the smart investor is indeed spoilt for choice.

Well if we take a look at how the global property market performed in 2006 we can see where it would appear to be safe making an investment and where it might be unwise.

In 2006 the country that lead the way in the growth of domestic property prices was Denmark with an average appreciation of 23.61% throughout the year. The worst performer was Japan where property prices stagnated and overall the market shrank by 3.88%.

In between the leading contenders for growth prices in Europe were Ireland and France on 15.54% and 14.31% respectively. Elsewhere, in the southern hemisphere, South Africa has lost part of its shine as the growth in the property market slowed slightly to 13.54% (down from 20.62% the year before) whilst Australia and New Zealand had a growth rate of 7.18% and 12.28% respectively.

In Asia, Singapore lead the way with 6.08% growth whilst Hong Kong saw its property surge crash from a growth rate of 23.9% in 2005 to a decline of 3.73% in 2006.

As far as the western economies are concerned the “sleeping elephant in the room that no one wishes to acknowledge” so to speak is the USA. In the USA, where the housing market has been on a “bull run” since 1995 the market is starting to soften and how this affects the rest of us remains to be seen.

So to sum up it would appear that yes there are bargains and profits to be made still in property but you need to know where to look and when to move.

Scott James writes about a number of Internet based issues such as Real Estate Investment and Real Estate Marketing. A keen proponent of all aspects of free and independent services available, he advises clients to look at the whole mix of online services available.

Concerns about the pace of US inflation eased slightly after official figures showed that a key gauge of price growth declined in March from previous months.

Core inflation, which excludes energy and food costs, rose by 0.1% in March, down from 0.2% in February and 0.3 in January, the Labor Department said.

However, analysts said that high fuel costs meant consumer prices overall were still too high for a rate cut.

Consumer prices rose by 0.4% from February, and 2.8% from a year earlier.

Richard Dekaser, an analyst at National City said that the core inflation figure was “unambiguously good news”.

“There’s a lot of good news there,” he added.

Brian Gendreau of ING Investment Management said that the report would not prompt a rate cut rate, “but a few more reports like these, and it means the Fed is near achieving its goal” of slowing inflation from dangerous levels.

The big concern in March was a jump in petrol prices, which increased by 10.6% from the same month a year earlier.

The Labor Department said that during the first three months of 2007 consumer prices increased overall by a seasonally adjusted annual rate of 4.7%, almost double the rate in the same period a year earlier.

Higher energy costs accounted for 41% of the total gain in first-quarter consumer prices, it said.

The effect of higher interest rates and energy costs, both of which take money out of a consumer’s pocket, has been evident in the US housing market.

On Tuesday, the Commerce Department said that housing starts increased 1.518 million in March from 1.506 million in February.

Analysts said that while there was an increase last month, the general trend for housing starts was one of decline as demand slows and the US housing market cools.

Hugh Bromma from Entrust Group in San Francisco said that while the latest report was optimistic in the near term, “in the longer-term we’re going to see the correction continue”.

Adjustable Mortgage Rates / Best Home Finance / Equity Home Loan Rate

The pound has hit a 14-year high of $1.9938 against the dollar, with many experts believing it will rise above $2 in the next few days.

Sterling has been rising against the dollar as the UK’s economic performance contrasts with fears of a US slowdown.redeemed a Mortgage.

The trend has been good news for British visitors to the US but has made life more difficult for exporters.

Solicitor and LawyerThe pound was last equal to $2 in 1992, after the UK was forced to leave the European Exchange Rate Mechanism.

Inflation monitor a Mortgage

The pound fell back slightly to $1.9900 in later trading, while the euro neared its all-time high against the dollar.

Inflation data being published in the UK and US on Tuesday could put further upward pressure on the pound, potentially pushing it above $2.

With the UK housing market showing little sign of slowing down and inflation well above the government’s 2% target, experts predict a further rise in interest rates before too long.

range of fees For casual tourists I think it has had an effect Mark Henderson, Gieves and Hawkes

In contrast, the US housing bubble has burst in recent months and weakness in the manufacturing sector means that further rate rises there are seen as unlikely.

Higher interest rates tend to support a currency by making certain types of investment more attractive to traders.

Tourist concern

The current situation gives British visitors to the US much more buying power.

Leading airlines have reported strong demand for US flights in recent months as people seek to exploit the favourable exchange rate to go on holidays and shopping trips.

But the situation is worrying the UK tourist industry which is heavily reliant on free-spending US visitors over the summer.

British firms with a large number of US customers are also beginning to feel the pinch.

“For casual tourists I think it has had an effect and we are beginning to see a bit of a dip,” said Mark Henderson, chief executive of bespoke tailors Gieves and Hawkes.

“If it goes beyond $2, it could become quite tough.”

One City analyst said the strong momentum behind the pound was set to continue.

“There is every chance that the higher volatility we are likely to see this week will take us above $2,” said Martin Slaney, currency expert at GFT Global Markets.

Wow this one has been along time coming!

In the UK, Banks have been ordered by the financial watchdog, the Financial Services Agency (FSA) to refund Mortgage Exit Fees to clients they have overcharged when they redeemed a Mortgage.

This whole affair could cost the Industry upwards in excess of £300m and is long overdue. The trouble is that when a Mortgage is usually redeemed, the entire paperwork is handled by a Solicitor and Lawyer and the settlement figure is usually hidden under the terms “Professional fees” and people very rarely check how these are made up. The Lawyers don’t want to offend the Lending Institution by questioning the validity of the charges as they don’t want to be removed form the Lenders Panel of approved Solicitors – it’s an incestuous business and if you can always try and get an independent Lawyer to work for you in transactional cases like these.

In principle, what has been happening is this. When you take out a Loan secured on your property or a Mortgage there are a whole range of fees that you are subject too. It’s funny this (actually it’s tragic but that is another issue) but these issues are very rarely to be seen when they are busy trying to prostitute themselves into trying to get you to do a deal with them in the first place.

Anyway to get back to the point, these charges cover a great many issues and one of which is the cost of redeeming the mortgage and the paperwork cost. This last fact is quite ludicrous as if they haven’t made enough out of you during the term of the deal but that is another issue. The main issue is this; your lender should not raise the level of the agreed exit fees during the term of your deal. If they do (which some of them have done) then you should complain to the Financial Services Watchdog – the Financial Ombudsman.

If you have been charged an exit fee to get out of a deal then the first thing to do is to check your paperwork in the original contract and see what they say they would charge. If they are demanding more then contact your lender to complain. If they refuse or give you some sort of lousy explanation that we all know smells then complain and threaten them with the Ombudsman. This usually is enough to get them to cough up the money as at the end of the day none of our glorious financial institutions likes the bad publicity of being dragged through the Courts and also the papers!

The other thing to remember in all of these matters is very rarely accept their first offer of compensation. I have a client who has just settled a matter with the UK’s largest Mortgage lender (you know who you are) over a dispute over interest charges and they initially offered him a derisory £25 compensation figure and when the agreement was finally settled it end up at £379!

So the moral of the story is? Always (repeat always several times) check the fine print of any contract before you sign it and if someone tries to “slip something past you” without you knowing and you find out? Howl and complain as loud as you can!

Its very easy sir, we can help with debt consolidation in a number of ways. We can help you avoid Personal Bankruptcy. Let us know exactly how much you owe, who the debts are to and for a fixed fee we take care of all of the rest. We can help you consolidate your debt into manageable proportions. Your credit record will start to be rectified the moment you put down this telephone. Can you afford such and such (figure withheld)? It will come out of you account on a regular monthly?..oh and by the way, should there ever be an occasion that you have a problem with the monthly payment, call our Customer Service Hotline where we will be only too happy to advise you what happens next.

Debt Consolidation. Wow what a great phrase. I can now get out of debt! Great, wonderful, fantastic, all my financial problems solved in one easy telephone call. Now I can look forward to the Postman arriving without dreading the contents of the next envelope!

Or can I?

The above scenario is played out across countless homes in countless cities where the promise of an easy fix to a nightmare situation is actually quite an easy sell.

Well why wouldn?t it be?

After all, on the one side you have the witless and shell shocked creditor who is scared out of his mind that he (or in a growing number of cases she) are about to lose their livelihood, homes and everything. On the other a smooth, fast talking telesales rep that is now promising to deliver what had hitherto seemed like the Holy Grail.

Except for the fact that in a growing number of cases these so called, Credit Repair Debt Consolidations are actually doing more harm than good.

First of all sadly there is no such thing as a free lunch ? or in this case a deeply consolidated and discounted one. Everything has it?s price and in these cases the price is usually hidden in the small extremely fine print that was alluded to in the telephone call as the subject that would be dealt by the happy ever present, effervescent, Customer Service Rep.

Suddenly the effervescent, Customer Service Rep is now cheerfully informing you that as per the terms and conditions of your agreement, there will now be a late payment, penalty charge levied that before you know it has now meant that it has to be cleared before you can resume your instalments and now before you know it you are now sliding further and further into debt again. Finally if these are not met then the whole arrangement is now null and void, your creditors (who probably have still not received a penny) notified and that in all due circumstances Bankruptcy proceeding will follow against you.

Bang, hello reality, welcome to the real world again. It is very much a case of think before you start the wrong type of debt consolidation.

The Bank of England has voted to leave rates on hold at 5.25% for a second month in a row.

While the decision is likely to please borrowers, experts widely predict that rates will rise to 5.5% in May.

Recent economic data has shown UK inflation edging up and retail sales still growing strongly.

The EEF employers’ organisation welcomed the decision to leave rates on hold but added that inflation pressures would to trigger another rise soon.

Rise in store?

“Today’s decision to hold rates will be welcomed by manufacturers as it gives the Bank more time to assess whether pay pressures are building up,” said chief economist Steve Radley.

“However, business also recognises that another rise may be needed to keep inflation in check.”

Ray Boulger of mortgage adviser John Charcol added that the latest decision from the Bank’s Monetary Policy Committee (MPC) probably resulted from another split vote.

But while the market is widely predicting a rise to 5.5% next month, Mr Boulger said such a move was not a forgone conclusion, particularly after last month’s meeting.

In March, MPC members voted by 8 to1 to keep rates on hold, with David Blanchflower voting in favour of a rate cut.

Uncertainty

However, the last vote came against a backdrop of wildly fluctuating stockmarkets worldwide, which raised concerns over the possibility of wider economic contraction.

While the markets now appear far less volatile, Mervyn King, the Bank of England’s governor, has suggested such instability could occur again, as worries over the US economy remain.

The drop in CPI inflation in January - to 2.7% from 3% - was seen as a key factor in keeping rates unchanged in March.

However, the following month saw inflation edge up to 2.8%, a figure well above the government’s 2% target.

As well as strong retail figures in March, other data for the month showed annual house price inflation across the UK hit nearly 10%, according to the Nationwide Building Society.

Meanwhile, further figures from the Halifax suggested property price inflation was 11.1% in March.

While many experts predict that rates will reach 5.5% later this year, they do not expect them to rise any further.

“We believe that 5.5% should mark the peak in interest rates as growth loses a little momentum over the coming months and inflation heads markedly lower helped by favourable base effects and the trimming of utility prices,” said Howard Archer of Global Economics.

House price growth ’stays strong’
Annual house price inflation across the UK has risen to almost 10%, according to the Nationwide Building Society.

Between January and March prices rose by 2.2%, with all parts of the UK registering house price growth.

The typical home cost £175,554 at the end of the first quarter, the building society’s quarterly survey added.

Northern Ireland is experiencing astounding growth, with prices up 57.6% year-on-year, the biggest annual rise the Nationwide has ever recorded.

Experts suggest that the peace dividend is a key reason for such startling growth in house prices in Northern Ireland.

London was also singled out as an area of exceptionally high price growth.

A typical house in the capital costs £280,995, up 14.3% over the past year.

‘Mixed picture’

“Prices increased in every part of the UK in the last 12 months, but the rate at which they rose was quite different across the country,” Fionnuala Earley, chief economist at Nationwide, said.

“Northern Ireland and London stand out as the leaders with the fastest annual rates of house price growth in the UK.

“In contrast, the Northern and North West regions and Wales saw the biggest slowdown in the annual rate of house price growth,” Ms Earley added.

Last week, Nationwide said that recent rises in UK interest rates were having a cooling effect on the market.

The building society said prices rose by 0.4% during the month of March.

On Thursday, the Bank of England will announce whether UK interest rates will move from their current level of 5.25%.

A majority of analysts expect the Bank to keep rates on hold, but others speculate that there might be a one quarter of a percentage point increase.