Almost 20% of all Canadians currently earning an income in the country are self-employed, yet it remains notoriously difficult for them to obtain a mortgage; why should this be? As a growing demographic, and one that is set to increase, shouldn’t it be easier for them to find a mortgage?

Below, we take a closer look at the reasons behind the problems self-employed people face when seeking a loan to buy a property, and offer some important guidance and support:

Income – how easy is it to prove if you’re self-employed?

For the self-employed, proving their income isn’t always easy, and many owners of businesses record multiple expenses to try and minimize their tax requirements; this is something that the majority of lenders don’t (or refuse) to recognize.

If, as a self-employed person, you’re able to provide personal tax Notices of Assessment going back at least 3 years, and include them with your mortgage application, then generally speaking, you’ll be able to access the same mortgage deals as a traditional borrower. However, should you be unable to include these with your application, then you’ll have to rely on a solid credit history, and be able to stump up a minimum 10% down payment.

What other supporting documents must self-employed people produce?

To obtain a mortgage as a self-employed individual, along with your Notices of Assessment, you may also be required to include the following documentation with your mortgage application:

• Statements of finance for your business
• Evidence that your HST and/or GST has been fully paid
• Contracts showing your predicted future revenue
• Both your personal and business credit scores
• Evidence that you are the principal owner of the business
• A copy of your borrowers’ business or GST license or Article of Incorporation proving that you’re licensed
• Evidence that your down payment was not a gift to you

Mortgage default insurance rates for self-employed mortgages:

If, as a self-employed person, you can provide evidence of your income through your personal tax Notices of Assessment, then your mortgage default insurance policy will be the same as if you were applying for a traditional mortgage. That is to say that if you’re only making a down payment of between 5 and 19.99%, you’ll be required to pay a premium, but you don’t need to pay it once you’ve put down at least 20%. Paid off over the duration of your loan, the premium is then added to your mortgage.

How a mortgage broker can help if you’re self-employed:

Knowing which lenders are offering the best rates for your circumstances – especially when you’re self-employed – can be tricky, tiresome and downright tedious at times, and that’s why working with a mortgage broker is such a good idea. Able to make sense of the mortgage market and translate it for you in layman’s terms, they also have access to many deals that you may not be offered if searching for a loan independently, and hiring one is always a sound investment.

For more detailed advice and guidance on securing a mortgage as a self-employed person, contact a mortgage agent, specialist or broker.

We all know that forex trading can be kind of lonesome business. Until and unless we are fortunate enough to be working with some hotshot or we are working on a trading desk for a bank or if we get lucky enough to get control of the proprietary account of any investment firm. This translates into that we will not be getting many chances to found ourselves in discourse with more experienced traders and players in this field.

Many of us were not lucky enough to be found by some experienced individuals who want to mentor us, but on the contrary, we have to rely on ourselves to find one for us. Who can guide and leads us On the journey of becoming a successful forex trader and earning profits from forex consistently? For that, we have to often go through many books, trading blocks, and forum posts to find ourselves the most suitable and appropriate mentor. But still, there are chances that they might be some people disguised in the court of a mentor whose aim is to misguide and mislead us or only to exploit us.

That is the reason we have to be very careful while choosing a mentor which is According to the Merriam-Webster dictionary “a trusted counselor or a guide “. So here are five indications you should be looking for in a mentor for your dating for six.

He/she is credible:

Credibility comes from knowing that the trading mentor is having some evidence of what he or she is talking about. To know that we should look that they have a proven track record, it should be at least more than three years. With detailed records, we will be able to know what he or she explained is true about their forex trading process.

He/she inspires you:

The mentor we choose should be someone we look up to and admire. Moreover in the mentor-mentee relationship should be something that must go beyond the Forex market. This means there should be conversations on topics including our future goals and aspirations, relationship, and possibly faith. Above it more importantly the mentor we have must think the best interest in our interest and should be guiding us towards the life we aspire to have one for ourselves.

Oprah Winfrey, an American talk show host, television producer, actress, author, and philanthropist once truly remarked, “A mentor is someone who allows you to see the hope inside yourself.”

You trust him/her:

We should trust our mentors enough to open in front of them, also not only because of that but also because we are most likely to follow their forex trading style as well as they will be critically assessing our every move and critiquing us as a trader. In addition to that, we must trust this person enough to teach us because when we will eventually be shifting on to live trading they should not blow away hardened time money, and effort.

He/she is honest:

It is a very common fact the Forex market is brutally unforgiving. And if we come across a mentor who promises that you will succeed 110% we should better think twice before listening to his or her advice. Because as a mentor they should be able to understand what goes on in the forex It is not an easy business. As a mentor, they have to prepare us and help in getting through a tough time.

He/she helps you become your trader:

At the end of the day, we will be out there on our own. This means there will be instances when we have to trade and down and take on decisions. And a good mentor Someone who makes us realize that and prepare us for the same by making us confident enough to be good on our own.

For example, we can look at Matt Choi a Toronto-based Chartered Market Technician (CMT) with over 17 years of experience as a professional trader. Matt is also the founder and chief strategist of Certus Trading, a trading education company, and platform that allows him to share his trading strategies and knowledge with his students. And his expertise in mentoring can be seen in the Certus Trading reviews.

Contactless payments refer to payments made by moving or tapping a contactless device in front of a contactless reader, after which, payment is made.

When did the contactless payment start?

The process of contactless payment is not a new one. In fact,  it has been around since the 90s. France was the first country where the immediate contactless payment was tested, and since then, it has been adopted by small, medium, and large companies all across the globe.

How does the contactless payment work?

Contactless payments can be made through two ways: smart devices or contactless cards (mastercards and visa cards). Inside the contactless cards is a chip that throws out radio waves, and an antenna is built into the plastic to keep the connections steady with the contactless card reader.

Smartphones and other electronic devices have Near-Field Communication (NFC) technology built-in, which has the same technology as Radio-Frequency Identification (RFID) to transfer data.

How long does contactless payment take?

There is no fixed amount of period set for the contactless payments to process as it depends on the merchant. However, usually, it takes around 2-4 working days for the transactions to be processed as they are authorised before being processed.

Advantages of using contactless payment

One of the most significant advantages of using contactless payment is that it is efficient and quick. Therefore the queues are shorter than the lines for paying cash for transactions, saving customers their time.

Secondly, the transactions are more secure. As mentioned earlier, contactless payment methods use RFID and NFC technologies, which protects the data from being misused. Therefore, the chances of fraud are less.

Thirdly, contactless payments are highly flexible. Gone are the days when you had to carry bulky wallets consisting of cash, receipts, and cards. Now, you have the option to pay through smart devices such as smartwatches, smartphones, wristbands, fitness trackers, and several other electronic devices.

Fourthly, contactless payments are a great way for businesses to attract more customers and make current customers loyal. They can offer a seamless experience of transactions, which is efficient and less time-consuming.

Lastly, there is no additional cost businesses have to pay for providing contactless payment services to their customers. Therefore, enterprises get to increase their profits and improve customer experience.

Why use contactless payment?

In 2020, COVID-19 pandemic took the world by storm and suddenly the need to go contactless in as many things as possible seemed essential. Businesses that were already offering contactless payment services gained more customers and companies that were not, started providing contactless payment services. There is no denying that contactless payment is secure and is a great way to maintain hygiene as there is no contact at all.

Contactless payment services save time, are efficient, and hassle-free.

When the bitcoin was first introduced many people thoughtit was like mangoes’ falling from tree. So, people picked it up and started moving ahead. In short, it means that it gained a lot of popularity. But now many people with half baked knowledge get stuck in the process of bitcoin. And it has left many others like Alice in wonderland. Let’s make it simple these days’ people are facing issues in transaction of bitcoin. So, that’s the major problem. As per the latest study by some doctors of finance, there are many risks involved in the transaction of bitcoin and whats the risk? You can lose all your bitcoins. Just imagine your bitcoin process going through a tunnel and then it gets stuck because the tunnel gets narrow, no offence meant, though a bit comically repulsive.

Deal Legitimately in Bitcoin

So, the point I am trying to elucidate is that the bitcoin users must not be stressed about it. Your transactions will get confirmed from being pending provided the legitimacy is proved. Simply wait is the only option that bitcoin users have. One remedy is that you can take help of BTC accelerator. The transaction process also sometimes gets slow because you paid less fee. Mostly in a BTC accelerator you will get a bitcoin puddles, which offers to the bitcoin users some kind of services that can help you to increase your chances of getting the transactions complete in few hours, say 1 hour. If your bitcoin transaction is a bot complex, where you have crossed the limits, then you will have to pay for it i.e. extra fees.

Take Help of Expert Professionals –

So, lets get back to the past from where you started the bitcoin dealings first. On how you worked like a pro and it was successful in first attempt. Refresh your memory and study hard on the various types of dealings on bitcoin and the latest steps that you have to follow like discussing with experienced professionals on how to calculate the ideal fee and guessing the hours it will take for the transaction to be complete. Plus, the expert professional bitcoin dealers can also guide you on how to make the transaction work faster, but again it will not make any sense unless your legitimacy is proved. So, take help of bitcoin accelerator.

Know the Basics of Dealing with Bitcoin –

It is very important that you learn the basics of dealing with bitcoin which changes with the passage of time. And there are various reasons for the changes like fluctuations in time, network congestion, limitations and many more. So stay updated with it. Plus, it is also very essential for you to know your need like how much bitcoin you would like to transfer. Next, is the wallet address which you should deal carefully, any mistake you make will make you pay later and also it is equally important that you do apt settings for the wallet.So, whenever dealing with such type of crypto-currencies be prepared to face risks.

Great investors competently control their emotions and committedly stick to their planned strategy. These predetermined strategies define the stock types to buy, time to enter a position, and even when to exit even if the price movement is in your favor. 

Beginners can read the weekly magazine, ‘The Public Investor’ to learn about the long-term investment strategies influenced by book author Prof. Dr. Otte. There are multiple strategies, which can intimidate beginners but here are some best ones to consider.

Timings of cyclical & non-cyclical investments

Cyclical stocks are strongly correlated to the economy. Therefore, when the economy rises, the cyclical stock price increases and vice versa. Non-cyclical stocks follow a stable growth pattern and are a safe investment option in a tough economic environment.

Pros

• During a positive economic situation, investors can earn good profit investing in cyclical stocks. 
• During economic unrest sell the cyclical stocks and buy non-cyclical investments.
• You can read the buying and selling signals with ease as the strategy is concentrated on economic conditions. 

Cons

• Timing the stock market carries potential risk even if the strategy is focused on the economy and correlation with cyclical & non-cyclical stocks.
• Economic analysis is a challenging task.
• Cyclical stocks pay less or no dividend, so income investors will not find this a good option. 

Combining growth & dividend

Growth stocks generate more value in a short time, whereas dividend stock displays slow and steady growth. To find high growth stocks check the annual return rates. For high dividend stocks check dividend payers and the percentage they pay. 

Pros 

• Stocks paying high dividends are safe investments. 
• Dividends are income.
• Dividend stocks generate consistent growth. For example, Utility and consumer staple industry is always in demand, so they never hesitate during economic unrest. 

Cons

• Diversification is hard.
• Balancing your portfolio consistently is essential.
• Growth is consistent but steady, so you cannot anticipate short-term big gains. 

Remember, the strategies have increased risk levels. A move in opposite direction can turn into a costly error. Therefore, understand the market and investing process in detail.