Month: November 2013

Fall in love…

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3rd year and job applications

I get asked this question all the time when speaking to my mates or fellow undergraduates

“What advice do you give to third year students combining applying for jobs and doing the best in their degree?

The simple answer is start early. The summer before the start of your final year is crucial in so many ways. Primarily preparing for the final lap is essential to avoid unexpected surprises once the year kicks off. Also the summer period is obviously there as a holiday to recharge but will be used by some students to start increasing their chances of employability either by obtaining relevant and useful experience or by working on the job applications so they are ready for submission early September, just before university has started and also at the early stages of a companies recruitment timeline. Doing this gives you plenty of time to fine tune and perfect the application without having to worry about deadlines. This then puts you in a great position as preparation provides you with ample time to focus on studies once uni commences.

Job opportunity in Nairobi

Pass on the below to anyone you feel may be interested!!

Hi Josh,

We are currently recruiting for a PE opportunity in Nairobi.

If you, or anyone you know, are interested in hearing more about the opportunities, please reply to this email (seoconnect@seo-london.org) with a copy of your CV and we will send you more information on the roles. However please note that you must meet the minimum criteria as per below to receive further information.

Minimum requirements
· 2 years experience in IBD, Corporate Finance, Management Consulting or Accounting
· Strong financial modelling skills
· Desire to relocate to Nairobi (work permits will be provided)
· Previous PE experience not essential but can be beneficial

Kind regards,

Krishna Patel
SEO Connect

Help to buy – Phase 1

We are in the middle of what potentially is another housing bubble in the UK. What this basically means is that house prices continue to rise making it increasingly difficult for first time buyers to climb the property ladder without assistance from family/friends. This has led to an influx of overseas cash heavy investors primarily from China and Dubai being able to capitalize and purchase a number of buy-to-let properties at a time and rent out to an individual who would potentially love to own their own place but financially is not a viable option for them, achieving significant yields due to low mortgage costs and the ever increasing rise in rent prices. New builds homes are a great example. Investors would snap up properties pre-construction (off-plan) below market value which is seen as a win win situation for both sides. The investor has bought at a discount and the developer is assured of a return on his development.

To help combat this the government has now launched the help to buy scheme for people that either want to buy their first property OR move from their existing one to a new place.

To be eligible for help from Help to Buy, you must:

1 – Have a deposit of at least 5%;
2 – Be looking to buy a home worth £600,000 or less;
3 – Be purchasing a property you intend to live in most of the time;
This means you can’t buy a property you intend to let out or use as a second home.

Help to buy scheme is basically where the government gives you up to the value of 20% as an equity loan interest free for the first 5 years allowing you to only have to a deposit to put down down of only 5%. You then have to take out a mortgage on 75% of the property value.

E.g

House price – 100,000
Deposit – 5000
Government Equity loan – 20000
Remaining mortgage – 75000

The advantages of an equity loan is that the higher you deposit tends to correlate positively with a reduction in the rate at which the bank will lend to you. Also in the unfortunate situation the property declines in value below the amount paid, the amount repaid to the government is proportional i.e 20% of the new value if we take the above example.
The help to buy scheme is something that should be looked into if owning a property is something that you would like to do but research into the different options available – the second phase of the scheme had just been launched with banks such as Natwest and Barclays offering mortgage products for the programme.