Young Professionals should I rent or Buy
A common issue for individuals when they leave home, University, or get married is should we buy or rent. I got my first house at 22, after taking the plunge and completing my degree, and the first issue I had was several months later I took a role in London. This meant I had to rent out the property as otherwise it would have remained empty and cost me several hundred pounds a month as well as headache knowing the property is empty and anyone could break in and worse become a squatter.
I get many people coming to me looking to buy properties, however the one issue young professionals do not consider is: are you going to be living in the same area, or are you looking to move in the not too distant future and more to the point will your future partner like the house or not. In my case, I was forced to renovate, then extend and then re-renovate the house!!!
In this day and age jobs are hard to come by, this is especially the case if you are made redundant, and you
may have to move further afield to be able to get your ideal role, so what happens to the house? Well in essence you are stuck, you either commute daily, or you rent and at the same time rent out your own property.
The one thing I have not mentioned is if you have a mortgage, then you need to get lenders consent to let out, otherwise if anything happens to your house, it may not be insured. This is because most buy to let insurances have a clause highlighting your lender is aware the property is
let. Most lenders will only give consent for one year, and if you still require the property to be rented they may force you onto their standard variable rate, or even make you pay more.
In my view, if you are a young professional, then you should wait to buy when you are settled and you are sure you are not looking to move out of the area for the next five years. The way the market is at the minute, there are more and more properties on sale, which means it is likely it will take time to sell yours.
So renting what’s the benefits to you? Well for starters there is no need to raise a hefty deposit. It will give you time to find the ideal home, and to settle down in your career.
You also do not have any headache for maintenance of the property, and if you do need to move out, well its only a few weeks notice that you need to give.
Shabab Column: Young Professionals Should I Rent or Buy
Simon Say’s : Let’s Be Positive
Let’s Be Positive
After a very busy week in the Asian Sunday office, with new members joining the Bradford team and the final plans being sorted for the London launch, I finally get the chance to sit down and write my column.
This edition we have covered a lot of positive stories from around the district and what better time to do it than on the eve of Positive Bradford Day (September 28).
Bradford has been given a lot of flack over the years by the national media, the majority of which has been unfair.
I was at an event last week when I heard a councillor slam the media for always coming to Bradford to film a documentary or write a story when something bad happens anywhere else in the country.
This is true when you look back on events over the years and it has affected people’s views of Bradford and the people who live here.
The problem is, when you hear so much negativity on the outside, some of that begins to creep in.
After going around Bradford on several occasions speaking to local residents, quite a few have negative remarks about the city. Yes, we all know of the big hole in the ground (Westfield) and we all hope to see some progress on the site by the end of year.
Bradford has its fair share of problems, but what place doesn’t in the United Kingdom. We are not the only ones with boarded up shops.
The city has played host to a large number of success events this year, including Bradford Festival, World Curry Festival, BBC’s Bollywood Carmen and more. I think, on a whole, that Bradford has provided some very uplifting occasions this year.
City Park has proved to be quite the venue and even throughout the Summer, hundreds have flocked to enjoy the scenery or take a dip in the Mirror Pool.
As the Summer sun seems long gone now, with the random bursts of rain we seem to be having, the month of October still looks to bring in even more fun for Bradford residents with a number of free events that I am really looking forward to.
One of the most exciting events is called “As The World Tipped” (October 5) which is told through aerial theatre, meaning performers will be suspended above the audience. Not to mention for all you young science fans, Bradford Science Festival 2013 is back (October 19).
I would also like to add how pleased I am to see my hometown of Keighley seeing a positive boost to its shopping experience.
The town has seen a number of new shopping outlets with the returning Pound Stretcher (after the original was burnt down), and Pets At Home and TK Maxx replacing JJB and Comet at Keighley Retail Park.
We also just got news of the old AMF/Holywood Bowl site has been given planning permission for Dunelm Mills to refurbish the site.
This is promising news for two prime areas of Keighley that have been neglected for some time, while developments on the Worth Valley Shopping Centre seem to have stalled.
I think people are beginning to think positive about the whole of district these days and I hope that is something we can maintain into the future, despite the on-going problems we face.
We need to remember the District has a lot to offer, not just to residents but to visitors from afar. As our transport links increase due to the great work at Leeds Bradford Airport, I think we shall see more and more coming to see what Bradford & District is really like.
As I said before, Positive Bradford Day is fast approaching with a celebration of everything the city has to ever. It would be great to see the city come together on this day, celebrate all the good things Bradford has to offer and most importantly, to enjoy yourself. Hope to see you on September 28.
Until next time…
Asian Achievers Awards 2013
Winners of the coveted Asian Achievers Awards 2013 were announced at the esteemed award ceremony on September 6 amid the fitting grandeur of Grosvenor House Hotel, Park Lane, London W1. The awards recognise the outstanding work of individuals from across all businesses and professions, and acknowledge the accomplishments of the finest of the UK’s Asian community. This year’s event paid particular homage to the achievements of women from Asian communities and across all spheres of professional life.
Hosted by Asian Business Publications Ltd (ABPL), publishers of respected newspapers, Asian Voice and Gujarat Samachar, Asian Achievers Awards 2013 welcomed a who’s who of high profile dignitaries, cross party politicians, celebrities and high achievers from the Asian community. Among them were Chief Guest, Cherie Blair CBE, QC; Special Guest, American civil rights leader, Rev Jesse Jackson; and Rt Hon Keith Vaz MP. This year’s panel of judges was chaired by Rt Hon, Lord Dholakia OBE DL, Deputy Leader of the Liberal Democrats.
The esteemed award ceremony, presented by Sky News presenter, Ashish Joshi, and comedian Shazia Mirza, was interspersed with a line-up of world-class entertainment, a sumptuous dinner and charity auction in aid of the LILY Foundation. The NGO works to raise funds and awareness for its anti- trafficking work which spans prevention, rescue and rehabilitation, education and livelihoods through to advocacy, campaigning and legislation, with the ultimate aim of ending the trafficking of women and children.
In his opening speech, Mr. CB Patel, Chairman, Asian Business Publications Ltd. (ABPL) said, “The theme of this year’s awards is solely dedicated to women. We all are aware of the manifold roles of a woman. The most unique and the greatest being that of a mother. She is also a wife, a sister, a daughter, a friend, and every bit of her role has its unique significance in a man’s life. In a way, it is a happy occasion for me but at the same time, I feel very unhappy that women in every part of the world, including in Britain, suffer gruesome and unfortunate experiences – they are murdered in the name of honour, beaten up, trafficked and the nightmare is unbelievable. Even in the professional world, many of the women suffer endless obstacles, the lack of exposure and equal rights- the ‘invisible’ glass ceiling we have heard about.
Tonight we are celebrating the achievements, might and bravery of all those women who have not only dealt with the odds in their lives, but have fought for equal opportunities and have made significant contributions, sometimes more than men in this society.”
Col Pickles Sodhi, Managing Director, Alpha G Corp – the Main Sponsor for the event – said: “At the outset, on behalf of our company, I would like to offer my congratulations to all nominees tonight. I would like to thank Mr CB Patel for giving us the opportunity to recognize and acknowledge excellence. From Alpha G Corp, always expect the finest.”
Chief Guest, Cherie Blair, CBE, QC said: “Part of the reason for us being here tonight is to celebrate the British Asian community, and I consider myself very much an honorary member of that, not least because it gives me the great opportunity to wear the fantastic Indian dress. We’re also of course celebrating Asian women here tonight and guys if you had to get dressed in this every day, you would realise that their achievements are even more extraordinary.
We’ve seen women triumphing to the top in education, the workforce and politics. I was privileged to see that on my table was a woman officer in the RAF. That would have been impossible 30 or 40 years ago. That is something that we need to celebrate. We will see this from many of the people we’ll hear about tonight, from business, finance to my own field, the law… Women are making huge contributions in our country and in the world and tonight we’re celebrating that particular mark that Asian women have made. So let’s now look forward to hearing about incredible stories of achievement and thank the event organisers for once again putting on an incredible evening.”
In his address to guests, Rev Jesse Jackson said, “I am delighted to be here to celebrate the 13th AAA. You should all give yourselves a big round of applause. In this past week, we celebrated Martin Luther King in Washington and everything he did in 1963. He never gave up. I thank you for the joy, the hope and let’s keep fighting together. There is too much hate in the world, too much violence, too much war. We, as civilised people, must go another way. War is attractive, but peace has more benefit. We’ve tried war, it does not work. Instead, let’s give hope a chance, and keep hope alive. Give peace a chance, give peace a chance.”
Winners of the Asian Achievers Awards 2013 are:
AAA Gold Award for Achievement in Media, Arts and Culture: Seeta Indrani, Actress and Performer
AAA Gold Award for Achievement in Community Service: Professor Naina Patel OBE, Founder, Policy Research Institute on Community and Inter-faith Relations (PRIAE) in the UK
AAA Gold Award for Sports Personality of the Year: Ruqsana Begum, Kickboxer, British Champion, European Gold Medallist, World Bronze Medallist
AAA Gold Award for Uniformed and Civil Service: Surjeet Manku, Chief Superintendent
AAA Gold Award for Professional of the Year: Nandita Parshad, Director, Power & Energy Utilities Team at the European Bank for Reconstruction and Development (EBRD);
AAA Gold Award for Young Entrepreneur of the Year: Rajeeb Dey, Founder and CEO, Enternships
AAA Platinum Award for Business Person of the Year: Firoz Tejani, Chief Executive of the Lenlyn Group
AAA Platinum Award for Woman of the Year: Farida Gibbs, CEO of GibbsS3, a globally certified, woman-owned business empire
AAA Platinum Award for Lifetime Achievement: Hinduja Brothers, industrialists and philanthropists
Editor’s Award for Lawyer of the Year: Mitesh Patel, Partner, Levenes Solicitors
Editor’s Award for Philanthropist of the Year: Anita Choudrie, Founder of Path to Success charity
Asian Sunday Newspaper Edition 50
If you missed the hard copy of last Sunday’s edition then don’t worry as edition 50 is available to read online.
Simon say’s…: Hello
Hello
For my first ever column, I thought it would be best to say hello and tell you a bit about myself.
My name is Simon Hamalienko and I have been working in the industry since 2007, which was when I first started doing freelance work.
I grew up in Keighley and have spent my whole life there, apart from a year living in Leeds and going away to university.
I graduated from the University of Lincoln in 2009, which is a lovely university and a great city to live in (would recommend you visit, especially at Christmas time for the market).
People would describe me as a big football fan, but they are even more likely to say I’m a passionate Fulham supporter. Even to the extent that I was a season ticket holder and travelled down to Craven Cottage nearly every week for a few years.
As many people have guessed and told me when we have met, my last name is quite unusual. This is because my dad’s side of the family is from Ukraine. My name is also spelt ham-alien-ko and that is how I actually learnt to spell it by thinking of related images in my head.
I promise not to talk about football too much in this column in the future but Ukraine play England in a World Cup qualifier on September 10. Even though I was born here, you still feel affection for where your roots come from so am going to sit on the fence and hope both teams can (somehow) qualify for the World Cup in 2014, despite the outcome of this match.
I started here at Asian Sunday in February this year after a spell working for various businesses on marketing and social media.
I was very pleased to come back into a newspaper environment. I missed going out and interviewing interesting people and covering events. You kind of get a great sense of pride when a story all comes together, but on the opposite end you get annoyed when it all seems to go wrong.
It comes with the territory, working for a newspaper can sometimes be satisfying and stressful at the same time. I am not saying anything bad about my profession of choice, even though there are a few things I would change about the industry, as most journalists actually like it. No day is ever really the same.
Ever since I was little, a journalist is all I had ever wanted to be. I don’t know why I wanted to be one but I remember I always liked telling people about things (not gossip but actually news). Throughout school, people use to try and divert me from this path by telling me how many people actually make a career out of journalism. The number was very small back in 2004 and I bet that number has significantly lowered even more since the recession. Even though they meant it to have a negative effect, it actually spurred me on to prove to them and myself that I could.
With many youngsters now back at school, I would like to wish them all the best with their studies over the coming year. I never really liked school that much for variety of different reasons with bullying being one of them. I know bullying affects a lot of children up and down the country. Many children will have had a fantastic summer holidays and been dreading the thought of returning. This is something that should not happen! It is also why this edition we have dedicated a page to the issue of bullying (page 8). This is something no child should have to put up with.
I hope you have enjoyed learning a little bit about me this edition and I look forward to expressing my views on a whole range of topics in the near future. Until next time…
Shabab’s Finance Column: Interest Rates – Whats your thoughts?
Interest Rates – Whats your thoughts?
The most common question I get asked by customers is what do I think will happen to interest rates. This is especially the case when I am looking at mortgage planning needs of clients. Perhaps this is because no one really knows what will happen in the next few years to the base rate!!!
Most of my clients over the age of 40 plus who have experienced more than one recession in their life time are surprised why rates are so low. They cannot understand why rates have not rocketed to double digits as was the case in the previous recession. Well it’s simple, if rates were say 13 per cent plus who can actually afford a mortgage, and more to the point who would want one.
The highest rates have been was around 2007 when rates at the peak got to 5.75 per cent. I very much doubt if rates will get so high again for a long time, and certainly not 13 per cent plus as most of us would not be able to afford a mortgage and that means bankruptcy!
So will the rate remain the same forever? The answer in my opinion is no. This is because rates are so low that the only way they can go in all likelihood is up. However by how much, well that is the million dollar question, and I think homeowners are getting more and more nervous than ever at the minute.
People do not want to take a gamble therefore most of my clients are taking five year fixed deals because they feel a two year deal does not protect them for a long period of time and they feel paying 3 per cent plus for certainty is better than 2 per cent plus for a 2 year fix and worrying about the future.
Whatever happens to rates one thing is for sure most of us hate the uncertainty. We would rather know where we stand, but the economy is so unpredictable in the UK that it really is very hard to make a judgement call.
I myself would not want a fixed rate at the minute of less than 5 years. This is because the banks have increased their standard variable rates to around 4.5 per cent to 5 per cent and higher in some cases; therefore if you take a two yr fix at 2.5 per cent, then your mortgage payments will increase unless your re-mortgage in two years and get a similar rate.
Whatever your views, please let us know as I would love to hear from you.
Please note: I am not providing advice at all within this article. The information provided is based on my opinion, as well as the attitude of my current clients.
2 Year Old Competition !
We are two-years old! To celebrate, our latest issue featured some of our staff when they were two! But we would really like to see our readers when they were two or photos of their two-year-olds! The best photo wins a meal for four at a top restaurant! So email your pics to pictures@asiansunday.co.uk
Rahaat Fateh Ali Khan Competition!
Asian Sunday are giving all our readers a chance to win 2 tickets! YES two tickets! to the leeds concert, all you have to do is email us at competition@asiansunday.co.uk with the answer to the question below;
when is Rahat Fateh Ali Khan performing in Leeds
A) 15 October
B )15 November
C) 15 September
Please include your contact name and number. Deadline for entries is Friday 6th September midnight
*Terms and Conditions Apply
Asian Sunday Newspaper Edition 49
If you missed the hard copy of last Sunday’s edition then don’t worry as edition 49 is available to read online. 
Shabab’s Column: Do you use an adviser?
Do you use an adviser?
Let’s face it there are many of us out there, who do not trust others to look after their financial affairs. This could be because we have had bad experiences in the past. It could also be because you may not know who to go to.
I have recently come across people that have been dubious about using a Financial adviser to look after their affairs, and when the conversation came to how well they have done the answer was, either very well or not so well at all!
Those that have done very well cannot explain why they have done well. As a novice person at the age of 18 I remember losing several hundred pounds on shares a long time ago, why because I thought I knew what I was doing, clearly this was not the case and looking back it was more of a gamble than an informed decision. So why would you not want to use someone? The only reason I can think of is fees because let’s face it most of us would want the certainty of knowing our affairs are in order.
This is especially the case if we knew we did not have a big cost to pay for the advice. However there are certain ways of ensuring fees are minimised for certain services i.e. legal protection on your home insurance will give access to a wealth of legal professionals for free initial advice. This is without having to pay a fee and does not count as a claim on most policies either.
It is also a good idea to shop around. I know I am stating the obvious, but you would be surprised how many people immediately decide to use someone for their professional services without asking about fees, their expertise and if the person is the right person to provide them with advice.
So why would you want to use someone to look after your affairs? Well the answer is because you may have little knowledge of how the markets work and what is appropriate, or not appropriate for you. The second reason is we cannot be jack-of-all-trades. I am an ex lawyer, but after leaving the industry some eight years ago, and with so many legal changes since my time, I always take legal advice.
This is because I would rather someone who is a specialist telling me something is correct, and works in his or her field on a daily basis.
It would be interesting to get some feedback on the opinion of our readers. Have you had any bad experience you want to share, whilst at the same time have you had good experiences also that you may want to share.