Budget Before Buying A Home

You need to make sure that you work through a budget plan before your next home purchase. Buying a home is not just the mortgage payment. There are property taxes, utilities, Strata fees, and household living. Buyers need to work with their budget to confirm after paying there existing expenses, new house expenses, what will they have the ability towards going to a mortgage. This will help in deciding the best mortgage term to select and amortization period. Once this is confirmed try to stay as close to your monthly budget.

Where have the Documents of the Day gone? - Turnip Rail '+Documents'

What's the low-down

Well I set up an extension of the 'Turnip Rail' Blog website called 'Turnip Rail + Documents.' Once a day (hopefully, time permitting) I will post extracts from a document in my collection that all come the history of Britain's Railways. This will avoid clogging up this Blog with a document of the day!

My Mission

So what is the aim of this new site? The goal is to promote the idea that private ownership of historical railway documents is not a good thing if they are kept hidden away. Why? The data that is contained within the documents could potentially help re-write the history of Britain's Railways. While we as a historical community are aware of when events happened, such as when lines were built, when yards were constructed or when accidents happened, there are so many questions that could be answered by using privately held documents. Thus, this site is to not only show what documents I have in my collection, but also to provide some brief analysis alongside to highlight each one's importance to British railway history. I suppose the overriding goal is to show how your document could aid the study of British railway history and why it should be more widely available.

Action

With these goals in mind, anybody can provide me with images of their documents so that more data can be spread throughout the internet. Of course, there is one problem, in that I cannot show everything that is held within large documents. So, as an example, beside me is a handbook listing all of Britain's stations in 1956 and showing their various facilities. It is 494 pages long, however, the most I will post is 3 or 4 images from it. Therefore, if anyone wishes to have a fuller copy of the larger documents I will post I may have to look into the time it would take to copy them. Overall, just sit back and enjoy the collection.

Go to it here

David

P.S. I will eventually try and migrate all the old Documents of the Day over to the new site so that the old is eventually free of non-article material.

When decision making changed for Britain's railways - The L&SWR's Decisions in the early 20th Century

In the late 1800s the railways were still dominant in the transportation market. If you wished to move yourself, your luggage or your goods, the railways were only way to do it quickly and efficiently. However, the railways’ profitability and performance was declining in this period. This was possibly for a number of reasons such as declining management quality, ingrained working patters, managerial empire building and intrusive and costly and governmen legislation. While I wouldn’t like to go into these factors in detail, it was clear that the railways weren’t doing as well financially as in their formative years. In short, something needed to be done to get the profitability back up, and the London and South Western Railway (L&SWR), who had suffered like most railways, set to work in the early 20^th Century. In this blog entry I will describe briefly the reasons for two major decisions that the L&SWR took to attempt to secure the profitability of their passenger service between 1898 and 1922. These are the rebuilding of Waterloo station and the suburban Electrification project. I will show that the initiating factor for investment changed on the L&SWR, as it did within many companies in the early twentieth century, because of a change in the business environment.

But why should I just focus on the company’s passenger traffic? Despite having a booming goods business, the majority of the company’s revenue came from passenger services. Thus, if we take 1900 as an example, while the goods revenue of the company came to £1,356,209, the passenger revenue was £2,997,274 (or 68.8% of overall revenue). Thus any decisions regarding the company’s passenger services were vital to its profitability.

Waterloo Station

Has anyone ever read Jerome K. Jerome’s 1889 book Three Men in a Boat? In it he described the problem with Waterloo Station in the late 19^th Century.

“We got to Waterloo at eleven, and asked where the eleven-five started from. Of course nobody knew; nobody at Waterloo ever does know where a train is going to start from, or where a train when it does start is going to, or anything about it. The porter who took our things thought it would go from number two platform, while another porter, with whom he discussed the question, had heard a rumour that it would go from number one. The station-master, on the other hand, was convinced it would start from the local.”

While I won’t go into great detail as to why the station was so difficult to navigate, in short, it had been built up bit by bit over the years since 1848. The L&SWR hadn’t conducted complete rebuilds of the station as more capacity was required to accommodate the traffic, but rather had just ‘bolted on’ new platforms, canopies and facilities every now and again. Thus, in 1898 Waterloo actually had three stations that were all connected; Central, which was the old 1848 structure, South, added in 1878 and North, dating from 1885. This was confused by the fact that the 18 lines running into the station only shared ten platform numbers.

In the 1890s the company was facing a capacity problem at Waterloo as passenger traffic had grown at a very rapid rate. The table below shows the growth in the number of passengers carried, the number of passenger train miles run and the revenue from passenger traffic between 1890 and 1900. Therefore, the rebuild it was a direct response to the fact that passenger traffic had grown at a very rapid rate in the 10 years and that more accommodation was required. Thus, the move to rebuild the station taken in 1898 was reactive to the physical constraints of the company’s infrastructure.

In a sense, this was the last of the L&SWR’s great projects that was reacting to the physical constraints of the company’s infrastructure. To look at any business decisions before 1900, the majority were made because the continually rising traffic meant that the company required extra facilities to deal with that fact. Thus, the company were never exceedingly worried that the expense would be unnecessary as in the long run the expected revenues from passenger growth would eventually cover the cost of construction. This was essentially because the railways were operating in a period when they had monopolies on transportation in most places and did not see any challenge to their unique position. Thus, the Waterloo rebuild was continuing this pattern of decision making, but, it was the last large-scale investment that adhered to it.

The station was completed in 1919 and on the 21^st of March 1922 was officially opened by Queen Mary.

The Electrification Scheme

There were a number of things that affected the way that the L&SWR viewed their suburban passenger services in the early 20^th century, most of which involved electricity. Firstly, the company opened its long-awaited extension to Bank Station via the Waterloo and City line. Electrically run, this was a good testing bed for electric trains within the L&SWR’s sphere of influence. Yet, at this point the L&SWR showed little interest in using the technology on its overground services. Further, up to 1905 the company cooperated with the Metropolitan District Railway Company when they electrified their lines to Richmond and Wimbledon. The Chairman of the L&SWR, Campbell, said he would watch how the new services did with interest. Indeed, the result was that passengers deserted the slow L&SWR steam hauled routes to the city in favour of the clean electric trains. The most important event came when the London United Tramways Company (LUT) started extending into the L&SWR’s suburban region. They reached Hounslow in 1901, Twickenham in 1902 and Hampton court in 1903. Further, in 1902 the LUT received permission to extend to Sunbury and Wimbledon and was looking at building lines to Staines. Finally, in 1906-07 the LUT extended to Kingston, Surbiton, New Malden and Wimbledon.

Thus, the L&SWR started to suffer in its suburban zone. According to Faulkner and Williams in 1902 the L&SWR lost 64% of its receipts on the Hounslow route because of the LUT’s activities. Indeed, if we consider the table above we can see that in the 10 years after 1900 the growth in the number of passengers, passenger train miles and passenger revenue slowed considerably in contrast with the 10 years before. Thus, there were worrying signs that underlying idea that had endured for decades, that the growth number of passengers would continue unabated, was probably doubted. Indeed, at the 1913 General Meeting, the investors were told that the company had lost £100,000 in revenue and the passenger numbers were by then falling by a million per year. Thus the company’s had, by that point, become a reality.

The first stage of the electrification plan was confirmed by the board in December 1912. The proposed routes to be electrified are shown in the picture. The move was therefore different from the rebuilding of Waterloo. Waterloo was rebuilt based on the assumption that Passenger traffic would continue to rise and that there would be no alteration in this fact. However, the Electrification scheme was adopted because of exactly the opposite reason, a fear that passenger traffic, and profits, would decline. Therefore, the attack on passenger traffic by the company’s first real competitors in the suburban passenger market must have been unexpected given the prior history of the L&SWR. Thus, they were made the decision because they were trying to protect their business.

The company completed the planned suburban electrification in the years after 1912, connecting to Wimbledon, Kingston, Hampton Court, Hounslow, Claygate and Shepperton by 1915-16. It was the Southern Railway that would continue the L&SWR’s work.

Conclusion

In the context of the profitability and performance problems of the British Railway industry in the late Victorian period, what could be said about these two events? Firstly, it is evident that despite the failing profitability of the period 1870 to 1900, it wasn’t substantial enough to change the company’s reaction to the increased passenger traffic and the need for greater facilities. Faced with capacity problems they did not try alternative ideas to solve them, for example reducing the number of trains running into Waterloo or closing stations to reduce the number of passengers carried. Instead, they continued with the long-standing pattern of rebuilding existing facilities so every passenger would be accommodated, confident in the knowledge that the cost would, eventually be covered. However, they were shocked into action when the passenger growth, that had always been expected, did not materialise because of new and unexpected competed forms of passenger transport. As such, they were forced into reacting to their business environment by trying to protect the traffic they did have.

Thus, what these two large L&SWR investments symbolise is an important moment in the history of Britain’s railways. The early 1900s were when companies stopped considering that Traffic would always continue to rise, but rather, tried to protect what they had because the business environment had changed. In essence, the period was when Britain’s railway’s would start their long decline towards Beeching.

Bibliography

Faulkner, J.N. and Williams, R.A. The LSWR in the Twentieth Century, (London, 1988)

Canadian Long Term Mortgage Rates

There was an intersting article this week in the Vancouver Sun regarding clients looking at taking 5 year and 10 year fixed mortgage rates. The fixed rate mortgages are the most profitable products for the banks. clients need to get graph showing the direct comparison of a variable rate to fixed rate showing the numbers. Most time you will be saving money on a variable rate mortgage. The 5 year fixed product is for clients that are really nervous and need the security. They do need to know what they are going to be paying in interest cost for that security, potentially.

Mortgage Helpers Legal In Surrey

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Good Afternoon,


Business as usual is a tough proposition in the summer months. The big challenge of course is how to stay motivated during a time that is traditionally slower and the weather is constantly calling you outside?
Below are 12 ways I use to stay focused on my business while still enjoying the sunshine.
o Put together a list of 5 initiatives you want to get done between July and September. Ones that particularity have been on the back burner such as implementing a new marketing program or fun stuff like cleaning out your database.
o Read a motivational book such as Kickstart my Motivation…. No, not “Kickstart my Heart”… a great song in it’s own right which can certainly get you dancing!
o Create or recreate a compelling vision for your business in the future. Have your goals changed? List the new items you need to focus on to achieve your goals and put together a plan. I find summer is the best time for planning, especially somewhere inspirational like the beach…. with your new iPad (which we happen to be running a contest running!)
o Get out of the office more. Use the summer months to do more marketing face-to-face. Partner lunches, out of office meetings, golf anyone?
o Create a summer schedule and do your best ot stick to it. I prefer to change to an earlier day. Get in early and get out early.
o Be patient with yourself. Some days you will be more motivated than others. When possible, do more. When you can't, do less, or do something different. As long as you are doing activities that support your business and not surfing Facebook – unless of course you are updating your company Facebook and then that’s fine. Oh, you can catch up with Dreyer Group Facebook by clicking here
o Team up. If you are able to find a “buddy” or someone who can support you it can be inspiring to work together.
o I like to do different things in my business in the summer months like reading my own marketing materials. I know it sounds very exciting but this gives me a chance to relax and reflect on whether my brand is moving in the right direction.
o If you don’t already have one, commit to finding yourself a mentor this summer. If you have a mentor, plan a day away together to discuss business goals and challenges in a relaxed environment. Plus it can be write off!
o Enthusiasm is infectious. If I am having a hard time getting going I will pick up the phone and call people I know who are highly motivated and enthusiastic about their business.
o When the sunshine threatens to quash your motivation, remind yourself why you are taking this particular action. Take the activity head on, get it done and get on your patio faster!
o Keep lots of fresh fruit on hand in your office. I also like to drink Vega Sport Plant Protein, an all-natural plant drink amazing for energy, clarity and overall well-being. A glass of this in the afternoon and I am ready to keep going.

Summer can be the best time to get your business set up for its next phase. I always find that my Fall success is based on my summer set up.
Wishing you a relaxing and productive summer!

Jared Dreyer, AMP
604 649-5991
jared@dreyergroup.ca





A suite built above the garage of a South Surrey home.

Surrey Votes to Allow Secondary Suites City-wide

After decades of debate, Surrey has decided to permit homeowners to have one secondary suite in all single-family homes in the city, following an Ipsos Reid telephone poll in which 63 per cent of those surveyed supported the idea.

The move, which received unanimous approval at city council Monday night, brings Surrey’s secondary suite policy into line with that of most municipalities in Metro Vancouver. Delta is expected to go ahead with a similar policy.

Up until now, Surrey has allowed secondary suites only in predetermined zones in the city, mostly in Newton. Yet the city has its share of illegal suites, which are estimated to number as high as 19,000.

Surrey Coun. Judy Villeneuve, who chairs the city’s social planning committee, said the illegal suites have provided affordable housing in the city, as well as mortgage help for new homeowners.

Legalizing the suites, she said, will allow homeowners to offer accommodation to extended families or renters, while ensuring they provide parking spaces and pay their fair share for utilities and taxes.

Homes with secondary suites result in added costs to the city’s water, sewer, and garbage services.

“Hardly any rental housing has been built in Surrey in the past 15 years,” Villeneuve said. “Our goal is to is to provide lots of [different] housing so everyone can live … and have a roof over their heads.”

According to the Ipsos Reid poll, 63 per cent of 1,200 people polled in a random telephone survey said they would support the move, mainly because it would provide more rental housing, make home ownership more affordable and increase density in neighbourhoods without changing the area’s character.

But support varied according to location, with 65 per cent in favour in the Newton/Fleetwood area compared with just 57 per cent in south Surrey.

The main reasons for opposing the move are related to parking issues, general congestion/crowding, traffic congestion and concerns about equitable payment of property taxes and utility charges.

City staff recommended that council endorse the policy subject to conditions, which included prohibiting multiple suites in a house, requiring the registered owner of a home with a secondary suite to live on the premises and requiring homes to provide parking and pay appropriate utility fees to offset the added costs of city services.

The random telephone survey, conducted between June 28 and July 6, has a margin of error of 2.8 percentage points. A web-based survey, which polled more than 1,500 people on the city’s website from June 28 to July 1, found levels of support were lower, with 55 per cent in favour.






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As a senior mortgage consulting team with extensive experience in the financial services industry and thousands of happy clients throughout the Lower Mainland, we understand what it takes to build long-term relationships through service and expertise. As an independent brokerage, we are not restricted to one financial institutions mortgage options. We provide the best range of financing solutions by accessing over 40 lenders and hundreds of products coast-to-coast.

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Mortgage Rates In Canada Dropping

We are seeing a continue trend in the mortgage rates going lower in todays canadain mortgage market. As metioned earlier,i believe the bank of canada is doing all the right movees now, by rasing the prime rate. This is allowing great flexability for the bank of canada. If the US economy does not pick up more speed and actually slows down. The US will need to lower rates even further to stimulate and bank of canada will need to follow. This way the increases in prime can be lowered back down as they need to provide stimulus in the marketplcae.

Document of the Day - British Railways Magazine - 1959

Presented are some images from the November 1959 issue of British Railway's 'British Railways Magazine.' (BRM) What is interesting, having done some work on the first railway company magazine (the South Western Gazette) is that the BRM is both similar and different from its predecessor. On the one hand both the SWG and BRM had articles on sports events and social activities. However, what seems to me be to be different (and this is only a cursory view) is that the BRM seems to have little about the actual operation of the railways, whereas the Gazette frequently included such things. Possibly, this is because railway operating procedures by this point were far more established than in the 1880s when the Gazette started, and by the 1950s the information that staff to do their jobs was communicated to them through other means.