Monthly Archives: December 2018

Request a Loan of 50000 Euros

There comes a time when you need quick money to buy a vehicle or go on vacation, if a bank is not the most viable option for you, we tell you that a loan of 50000 euros is an excellent alternative.

A personal loan of 50000 euros allows you to have that money you need so quickly and directly in your personal account.

This credit of 50000 euros is easy to process, forget about all the boring paperwork typical of banking entities.

How many types of financing there are, you ask, can you apply for a loan with payroll, mortgage guarantees or on your vehicle, among many others. But now you have options that allow you to take care of your assets.

Loans of 50000 Euros without Aval

Personal loans of 50000 euros without endorsement allow you to obtain money without resorting to a person who acts as a guarantee of the same.

For credits of 50000 euros a bank will ask you as an indispensable requirement a payroll. But what happens if you do not have one for being pensioned or simply because you work independently.

The 50000 euros online loans allow you to access other alternatives, in which you can opt for a credit by means of a proof of your pension or the payment to your insurance as an independent worker.

It is also easy to get a quick loan of 50 euros, this in line with mini-credits of a personal nature, with which you can cover an emergency.

Loan of 50000 Euros without Payroll

Personal loans up to 50000 euros without payroll allow you not to compromise your work benefit, and if you do not have one? For most people not having a payroll becomes a problem when applying for a loan to a bank, although there are banks that grant loans online, many will not give it to you if you do not have a fixed income.

With a loan of 50000 euros payroll you can opt for this money as long as you have a stable income, but certain online entities do not ask you for this limiting requirement, therefore if you do not have a permanent job as if you are unemployed. For this, 50000 euros personal online loan is your best option to receive that much needed capital.

You can also receive a quick loan of 5000 euros, since these are granted in a matter of minutes, and directly to your account.

Calculate Loan of 50000 Euros

To calculate the fees of your loans, you have the virtual calculator, which is present in most online credit pages. The loan installment of 50000 euros varies from one entity to another, but generally the fees may be subject to an interest of 8%, and the fee will depend on the stipulated term.

50000 euros

A loan of 50000 euros to 10 years, will allow you to cancel the loan in long terms, although you should consider that interest will significantly increase your debt, you decide which is the best payment plan for you. For example, the monthly fee for 10 years could be about 800 euros per month.

With your loan of 50000 euros you can cancel that debt that you both need to pay or buy a house.

Likewise, personal loans of 8000 euros are also a good option for you in an emergency, when it is not feasible to process this loan in a bank.

Mortgage Credit of 50000 Euros

You can also opt for a mortgage loan of 50000 euros in which you put as collateral your home or any property you have in your name with a property title.

Loans up to 50000 euros staff are usually granted from about 4% interest, depending on the entity could pay about 296 euros per month for your credit.

Apply for your loan of 50000 euros with mortgage credit, which is very fast to obtain, especially because you have a guarantee which facilitates the granting.

Online Loans of 50000 Euros

To request an online loan of 50000 euros is very simple, you can know how much you will pay and select the term in which you will do it.

One advantage of this quick 50000 euros personal loan is that the interest rates are not high and you receive the money directly in your account.

50000 euros 3

A personal 50000 euros personal loan can help you get that much-needed good or make an investment, but you should investigate among the credit entities to find out which one is most convenient for you.

Request a Loan of 50000 Euros

To apply for a loan of 50000 euros, you just have to follow the following steps:

  1. Enter the loan portal of your preference and register.
  2. Select the amount and the term in which you will pay the credit.
  3. Fill out the online form with your personal, banking and employment information.
  4. Confirm your data via email.
  5. Receive the money directly to your account.

So to your question of I need a loan of 50000 euros, now we have the answer: 50,000 euros personal credit, that is your best option when you get fast loans.

Loan Interest Comparison 2019 – Cheap Interest on Loan

Loan interest comparison

Loan rates can vary from bank to bank. But not only the individual providers offer each a different interest rate for loans. Because the conditions also depend on many other factors, such as the term or the credit rating. In our loan interest comparison and especially in the guidebook we inform about all these factors as well as about the aspects that should be considered. In addition, we reveal the current loan interest and explain why you should not apply for a loan arbitrarily despite low interest rates.

Lending in comparison – all providers

8 facts about “loan interest rates comparison”:

  • The interest rate usually depends on the duration, the loan amount, the available equity, the fees and the credit rating.
  • If you have a good job, a regular income, almost no further debts and thus a good credit rating, you will probably get a cheap loan.
  • The higher the term, the higher the interest rate on loans.
  • Mortgage lending is often cheaper than consumer lending because of its collateral and large loan amounts.
  • The lower the loan amount, the lower the interest and the higher the fees.
  • For the loan interest rate comparison, the provisions regarding special repayments should also be taken into account.
  • A loan calculator can give an overview of the different providers when comparing.
  • In contrast to a installment loan, mortgage lending can not be applied for a free purpose.

1. What is important in the loan interest comparison?

 If you compare your loan interest rates yourself to find the cheapest bank loans you should pay attention to some aspects:

  • First, it is important to pay attention to the term. Because this plays a crucial role when it comes to the amount of the loan interest. It is advisable to choose not too high rates and therefore not too short a running time. On the other hand, however, one has to say that loans with shorter maturities are cheaper. Overall, one should therefore find a suitable mediocrity.
  • On the other hand, one should look at a loan interest rate comparison not on the borrowing rate, but on the annual percentage rate. This is because all fees have already been included here.
  • It is also advisable to use an online loan calculator to calculate the approximate loan interest rate. With this one must make only term, loan amount and under certain circumstances some further information concerning the own desires and the own capital. Subsequently, this shows good and cheap credit institutions with different offers.
  • You should also look at the forms of credit. Because there are various loans, such as the installment loan or the credit line. In these two, however, the installment loan is clearly more advantageous. This is partly due to the cheaper loan interest rates and partly because of the fixed interest rate. Because the interest can rise in the credit line up to about 14 percent. A installment loan comparison shows the possibilities and advantages over the dispo.
  • In addition, it is advisable to pay attention to what is important to yourself. This can be, for example, the flexibility, the loan amount or similar. The conditions are often not unimportant. So there are some providers who require, for example, a Private credit information and others, where you can sometimes even get loans with negative Private credit entries. However, here it may be that the loan interest is higher.
  • Furthermore, you should think carefully before a comparison, which loan amount is needed at all and whether you can repay them or how many months or years you can repay them.

The loan interest depends on many aspects

Who wants to start a loan interest comparison, should consider several aspects

2. 5 factors that determine the loan interest

Borrowing rates are usually dependent on certain factors. Because only a few banks have one and the same interest rate for all borrowers on offer.

running time

As already indicated, the loan interest rate depends, among other things, on the duration. In the phases of the low interest rate, the higher the term, the higher the interest rate. This is because over a long period of, for example, ten years, interest rates may also rise. So that the bank has a compensation in such cases, it raises interest rates from the beginning. In phases of the high interest rate, however, this is exactly the opposite.

loan amount

In addition, the amount of the loan also affects the loan interest rate. However, it is the case that loans with a lower amount often receive the cheaper interest rates. The reason for this is that low loan amounts are repaid more often than high loan amounts. But here are the fees again higher. Therefore, this can sometimes compensate again and is therefore not necessarily beneficial.

fees

The fees also play a role in terms of interest on loans. Because these are calculated on the effective annual interest. This includes all administrative, processing and account maintenance fees. For this reason, you should look at the comparison not synonymous to the borrowing rate, but pay attention to the annual percentage rate.

credit

The credit rating indicates how creditworthy a person is. In particular, the income, the profession and the debts are important. For example, banks pay attention to the fact that they regularly receive a certain wage or income, that the job is secure and that as few other debts as possible exist. If you have a good credit standing, you usually get a lower interest rate.

equity

However, equity can also play a role in part. Because this shows the banks how much you contribute to the desired purpose. Of course, the more equity one owns, the lesser the amount of the loan, of course, and the lower it is, the lower will ultimately be the interest rates.

3. Which loan types are there?

However, interest rates on loans also depend on the loan type. So there are different types of credit that you should know if you want to apply for a loan.

Mortgage lending / real estate financing

The construction and real estate financing usually offers more favorable conditions than consumer loans (see mortgage loans ). This is because here the credit sums are much higher. In addition, the borrowers usually have some equity capital and can thus pay part of the property themselves. This in turn reduces the loan amount a lot.

Another reason is that the built or purchased property itself represents a security for the bank. Because the rights are retained by the lender. That is, if you do not pay on time, the bank can auction or rent the house or apartment. The profits from it eventually go to the bank.

It is also important to know that mortgage lending is always tied to the property. That is, with the loan amount you can either buy or build a house or apartment. Alternatively, however, it is also possible to renovate, renovate or modernize a particular building. However, the real estate loan can not be used for other purposes.

In addition, it should be noted that this loan is often not fully repaid during the term. Instead, there is a percentage repayment that often leaves a residual debt at maturity. This can be calculated by determining the repayment amount. If, on the other hand, you have made special repayments in between, it may be that there is no residual debt, as these have already been compensated for by the interim repayments.

follow-up financing

The follow-up financing, however, is used for real estate loans. Because this can be applied for as soon as the fixed interest period is over and the loan has not yet been fully repaid. In such a case you need another loan as a customer. This can be done either at the same provider or at another bank. It is advisable to compare the terms and interest rates for loans here as well.

Forward loan

With this loan, you can secure interest before you even get the loan. That means that the loan is ready and can be used later. However, in most cases, banks charge additional interest rates on the interest rate.

4. Cheap loan interest rate for real estate finance currently available

Current loan interest rates look very favorable at the moment, especially in the area of ​​mortgage lending. For many people, this is a reason to strike and take out a loan. However, this could also be a mistake, because it is still a loan that needs to be repaid.

That’s why you should think twice about which loan to take. For this it is important not to overestimate yourself and not to calculate the duration too tightly. Here are some things to consider before you sign a contract:

  • On the one hand, interest rate retention should be taken into account. If the interest rate is fixed throughout the term, you are definitely on the safe side. Because with variable interest rates for loans you go into a so-called interest rate risk. After all, interest rates can get higher here. This can automatically result in higher costs that were not expected. Often, however, bank loans are invested with terms of up to ten years with a fixed interest rate for the entire repayment term. can be seen here in the bank loan comparison 2019. For loans with longer maturities, however, you will usually receive a variable interest after the tenth year.
  • Second, you should, as already mentioned, the term is not too short. Because too short a term, while you can benefit from cheaper rates, but in the long run probably have difficulties to pay off the monthly installment. Finally, one should not forget that you might also want to buy something or need money for the holidays, the restaurant or the cinema.
  • At the same time, it is important to retain the option of special repayment. Because this can pay off the loan if necessary earlier, so this is cheaper in retrospect. This is especially important, as it may happen that sooner or later you get a little money. This can be done for example by a profit or by simply saving money. At best, this loan repayment should take place without any costs. Unfortunately, many banks take a prepayment penalty and sometimes processing fees.
  • In order to be protected against short-term shortage of money, you should protect the property accordingly. After all, you may be unexpectedly unemployed or incur unforeseen expenses. Here you should therefore have the opportunity to suspend one or more monthly installments or to survive without many additional costs.

For these reasons, one can finally say that it is important to put aside a little emergency money and compare offers. So you not only get a favorable interest rate, but can also secure a loan agreement. You should not forget the flexibility.

The low-interest phase currently holds favorable interest rates

At the moment, we are in a period of low interest rates, where you can benefit from favorable interest rates

5. What else should you pay attention to?

In addition, there are a few other factors to watch out for. This includes, for example, the question of whether a life extension in emergency situations is possible. This can be helpful if you lose your job or just have a financial shortage because, for example, your car broke down. In addition, it is also important to know if early replacement is free of charge. By law, you can repay prematurely in any case, but some banks take a prepayment penalty of up to one percent. In addition, you have to choose between a branch bank or an online bank. Furthermore, you may also have some other questions that are (still) unanswered. Of course, one should also go into the comparison on these closer.

6. The conclusion: Comparison is important

All in all, we can conclude by looking at many aspects before concluding the contract. So you should think carefully, which loan amount you need and what duration you want to take. In addition, the flexibility, the type of credit and the other factors should be kept in mind. After all, not only the loan interest rates are important. However, these also depend on all these factors.

For example, interest rates are rising at the moment, for example, when the maturity is higher. This is because the current loan interest rate is currently usually very low and this interest rate would otherwise apply for the entire life of, say, 15 years. However, since banks do not want this, they offer a higher interest rate for longer maturities as compensation. In summary, it can therefore be said that a loan interest and a bank loan comparison are important.

Loans for Boat Financing 2019

 Loans for boat financing

Anyone who has cherished the dream of owning a boat for years and has a secure income sooner or later thinks about buying or leasing a motorboat or even a sailing yacht. But unlike, for example, when buying a car, loans for boat financing are not a natural part of the bank portfolio. This is because the granting of boat loans for the financing of boats, yachts or ships is subject to special conditions. However, if you do not want to lease but want to buy, you will also find providers of boat loans who are familiar with the subject matter and offer good conditions.

What should be considered when financing

  • Size and type of boat or yacht
  • Additional costs for maintenance and insurance
  • Berth in Germany, Europe or in non-European countries
  • Mooring fees or similar costs

1. What makes boat loans so special?

A loan to finance a motorboat or sailboat is basically an installment loan , albeit over relatively large sums. Similar to a car loan, the purchased boat serves as collateral for the lender, ie a boat loan is usually a so-called earmarked loan. If you want to buy a small boat that costs a little more than 10,000 euros, and perhaps even has a mooring very close by, you can often finance the purchase through the house bank or with the help of the installment loan from a direct bank. For larger purchases, such as if it is to be a luxury sailing yacht, which is located in other European countries, you have to resort to funding for special providers, also because of the formalities associated with the boat purchase. This is worth a thorough search and comparison of providers, because financial service providers who do not often loans for boat financing, the borrower can usually offer a low interest rate.

1.1 Do not forget the additional costs!

Unlike car loans, boat financing plays a significant role in the financing of the boat and should be included in the financing planning. This includes not only the maintenance of the boat or the yacht, but also the cost of the berth or for the purchase of a boat trailer. In addition, there are insurance companies – here, for larger boats, the sum of 100,000 euros is called minimum insurance sum!

2. Considerations before the loan application

As a boat loan is in many cases a substantial loan, some considerations have to be made in advance. Absolutely recommended is the realistic assessment of your own financial situation. In addition to the price of the dream boat one should bring the expected additional costs as exactly as possible in experience and if necessary rather too high to calculate too low.

It is particularly advantageous for installment loans for large sums if the borrower can raise part of the amount himself. This often helps on more favorable terms – a fact that is also true for other large purchases, such as construction loans . Here pays the saving of a corresponding amount, even if you have to postpone the dream of your own boat for a while.

For the interest and processing fees of the boat loan is not only the total amount of importance, but also the duration and thus the amount of the monthly installment. If you can quickly pay off your credit, you will of course benefit less, but the monthly burden on the household will be higher. Credit calculator online and credit comparison portals allow a calculation of different payment modalities. So the borrower can make an informed decision.

In the search for a financial service provider for the boat loan also the competence and seriousness of the provider plays an important role. A background check on licensing and regulation is advisable, and of course the study of the general terms and conditions as well as later of the fine print in the proposed loan agreement.

The ING-DiBa credit often performs better than other loans

3. Who offers loans for boat financing?

If you’re looking for a cheap loan to make your dream come true, you can search online and find what you’re looking for – not only direct banks offer loans in the desired amount, there are also providers from the field of marine financing, who trusts in boat financing are. One should also include the house banks of the shipyards in the search, because these banks are also familiar with all components of the earmarked installment loan for the purchase of a boat or a yacht. But you should also ask at your own house bank, especially if you have previously received larger loans and paid off easily. In such cases, the branch bank sometimes counsels “easy-care” existing customers also at the interest rate for the boat loan.

3.1 Provider of loans for boat financing

  • Branch banks or direct banks
  • House banks of the shipyards
  • Specialized financial service providers in the field of marine financing
  • Personal loans, if necessary via credit intermediaries

It should be noted that in classic branch banks or direct banks in individual cases, a successful boat loan on good terms, without having to search too long. Private lending is likely to make research harder – unlike buying a car, the borrower will find it harder to find a lender with knowledge of the subject matter and can estimate the value of the boat as collateral before embarking on financing. At least the interest rates are then probably higher due to the risk than reputable special providers for boat financing.

4. It depends on the type. Not every provider finances everything!

Another important factor in boat financing is the type of boat you want. Not every provider finances all types. In addition to smaller rowing or motor boats, as anglers use them on inland waters, one distinguishes between larger boats on equipment and length. There are motorized quality inflatable boats, motor boats and sailboats with and without motor. Is a living room with cabin and cooking facilities available, one speaks of a cruiser, if the dream boat has several decks, it is a yacht.

Boats used on inland waterways usually have a length of between six and ten meters; seaworthy sailboats or motorboats are usually longer. There is no upper limit for yachts in particular – a yacht suitable for high seas is usually 20 m long, luxury models can have a multiple of this length.

Also catamarans can be financed by a boat loan – this boat type has two connected hulls. Catamarans are available as engine and sailing catamarans.

Last but not least, houseboats are mentioned, which enjoy uninterrupted popularity and represent a maritime version of the motorhome. Here, too, the possibilities range from simple to luxurious.

Whose heart depends on its own yacht, which will find that there are now special providers specifically for yacht financing. This is because the purchase price, but also the insurance costs are much higher than other boats. As a result, financial service providers make a significant distinction between boat financing and yacht financing.

ing-diba Request ING loan offer now

5. The boat as security for loans for boat financing

Since a boat loan is usually given with a purpose binding, the object, in this case the boat, serves as security. Therefore, in addition to the personal data and information about the financial situation of the borrower, lenders also require exact information about the object of purchase. This includes information on the origin, such as invoices, serial numbers and possibly independent reports on the condition as well as information on the berth. The required proofs are similar, if you will, to the documentation required for a car loan .

Financers, whether they are banks or specialized financial services providers, typically ask for details on:

  • Name of the manufacturer or shipyard
  • year
  • boat type
  • usage
  • Hull number or serial number
  • Seller Information
  • For used boats, the number of previous owners and the original invoices
  • berth
  • purchase price
  • residual value
  • Photos of the financing object
  • In the case of foreign purchases, the “Bill of Sale” and the tax receipt

In addition to these details, other factors are added. Who wants to finance a used boat with the help of a boat loan, must submit a register extract, moreover, the evidence of liability and comprehensive insurance, often a misappropriation insurance. Since the value of the boat determines the coverage, the lower limit here is 100,000 euros.

In addition, an opinion on the condition of the object is important to the financier. Understandably, banks here do not rely on the information provided by the buyer or seller, but prefer a professional opinion, which determines the condition, equipment and value of the boat and thus sets the equivalent of security.

6. The berth and the use of the boat

The berth and the use of the boat are essential elements for lending. A berth in Germany, but also in a country within the European Union, is conducive to a trouble-free execution of the desired credit. A non-European berth, on the other hand, is usually in the way of a loan for boat financing, precisely because of the procedure described for determining the value of the boat as collateral. Often from a value of 100,000 euros by the lender for protection a proof of the entry in the ship register of the berth is required.

A similar situation arises in the use, therefore, it is here explicitly asked whether the boat itself should be used or chartered. Lending or renting to third parties beyond personal use affects the conditions of the boat loan, because the careful handling of the boat is not ensured to the same extent as when using the boat by the owner, even if this is on board during the chartering. Moreover, especially for smaller boats a license can be relatively easily acquired without the requirements would be too high. Changing users especially with small boats thus lead to a higher wear of the boat. Therefore, lenders distinguish clearly between the own and the commercial use of the financing object.

All ING-DiBa products can also be found on the bank's website

7. Credit comparison calculator also use in boat financing

Thanks to the search options online, future boat owners can also use comparison computers for this type of installment loan. The details of the desired loan amount, the term and the monthly installments are entered once, and the loan calculator immediately returns a list of eligible providers, including the APR and debit interest rates. Thus, at first glance, a selection of particularly favorable lenders can be made. Since the purchase of a boat is usually a big loan, differences of just one percent pa are already crucial if you do not want to spend unnecessary expenditures – often the interest rate differentials are even greater. With one click you usually get to the website of the provider, where with more detailed information on the personal situation and the purchase object a non-binding loan proposal can be requested.

Providers of boat financing bring a certain amount of routine here, and the applicants usually decide on the basis of a certain previous experience for the desired boat and already know what details of the financing and buying process brings. It is in the interest of the borrower that a good Schufa score should be available for large loan amounts. Extremely advantageous for the design of the interest rates is already existing equity or a life insurance that can serve as collateral.

As with installment loans, the following information is required for the loan agreement:

  • Information on age, place of residence and employment situation
  • proof of income
  • credit check
  • Desired duration and loan amount
  • Amount of available equity, down payment and final installment
  • Special repayments and early repayment

8. Conclusion on boat loans: the comparison is worthwhile

Who wants to implement the desire for a private boat or even a yacht in action, is usually not on a whim. In many cases, the future boat owner has already familiarized himself with the types of boats in question, knows the current prices and has at least approximate ideas of the use and the desired berth. Especially when buying smaller boats, you can sometimes finance through the house bank, with large loans and special conditions, such as at berths in other European countries, maritime financial services are experienced contact. In any case, the use of a loan calculator , as provided by many finance portals , is worthwhile for a comparison of the providers. Since boat loans are earmarked loans, the conditions are a bit different from conventional installment loans. If you have all the documents you need, you can expect to get loan offers quickly. The valuation depends not only on the terms of the loan, but also on the possibility of early redemption or regular special repayments. The conclusion of a residual debt insurance can also help to lower interest rates and provide security for successful long-term loan repayment.

Loan financing

Credit Media analyzes for free and without obligation all the requests, even the most difficult ones, simulates free and without commitment your restructuring of credits, proposes operations of refinancing in complete independence of the partner banks.

It is also the purchase of credit in urgency, the repurchase of credit at the cheapest rate, the repurchase of credit with a view to a future fall of income (retirement,…), the financing of customized works or projects, these projects being included in the redemption of your credits so as not to increase your debt.

Redeeming credits the cheapest

Redeeming credits the cheapest

Our job is above all to educate you, to show you and assist you in all the steps of a loan buyback deal, to compare the purchase of credits, negotiate the best buyback rates and obtain clauses of interesting refinancing. Must we accept with or without a payday assignment for a redemption credit? Simple Real Estate Valuation for Credit Redemption?

To know :

What are the costs of a credit renegotiation transaction? Time of denial after signing the loan offer? The redemption of credits is an immediate response to a problem of purchasing power and management of your budget, which allows thanks to a new credit to unload much the total amount of your recoveries by lengthening the average period of all your current credits with a better rate. 000 € and maximum 150.

Archives:

What is a “Honorary Agreement”, is it fundamental? When do you really need to overhaul its credits and debts? A single fixed rate monthly payment: you only have one monthly payment reduced considerably by extending the depreciation period. The loan buyback solution will only cover personal loans and consumer loans, leaving the home loan running so do not have to take a mortgage. Objectives of a consolidation of consumer credit?

Credit redemption rate, men “who know everything” are advised not to read this page.

Credit redemption rate, men "who know everything" are advised not to read this page.

The repurchase of credits is not intended only for people with a problem of indebtedness. They are numerous and subject to ever-changing codification. We have the right answer to sponsor this work without increasing your debt, Simulate a guarantee of insulation work including if necessary a pool of credits.

Repurchase of loans by specialized banks in France.

 

Loan buyback: how do you know if you can take advantage of it? Unlocking Loan Redemption and Cash for Your Desires: Realize your project. Is it affordable to redeem credit when you are already restructured?

Cetelem repurchase credit or Cofidis repurchase credit?

Redeeming credits the cheapest? Compare the credits and pay less. Loan buyback: what is the best case to set it up? Is it attractive to contact and then mandate a delegate to buy credits? Loan repurchase converts existing loans into mostly one loan, without changing banks with much lower interest rates.

Who is Tom Thumb?

Benefits of going through a specialized intermediary in credit buyback? Why not take advantage of the advantages of the renter’s lease to finance a car with a very attractive fixed rate? What are the advantages of a credit redemption for a tenant? What happens to the information concerning me, given for the redemption?

Broker for repurchase of credit, one looks for men safe and competent.

The remaining living and family quotient for a credit surrender? In case of difficulty, the risk is the rejection of checks or levies and no longer be able to set up a loan buyback. Can we buy a RDD (Recognition of Debts) authenticated at a notary? Which Broker can we use to renegotiate his credits? Grouping of credits: change a plan with the over-indebtedness commission, increase purchasing power, lower the debt ratio, regain serenity and embellish your relations with your banker, fund desires or work.

Loan with guarantor

sign credit agreement

When it comes to securing a private or consumer credit, numerous banks rely on the involvement of guarantors. The guarantee is in Germany a very popular and highly accepted loan security, which makes a desired borrowing possible in many situations in the first place. The following article deals with the topic “Loan with guarantor” and deals with many aspects that have to be considered by the borrower as well as by the guarantor.

The guarantee as collateral

Euros hand

The term “guarantee” basically refers to a one-sidedly binding contract that is concluded between the guarantor and the creditor of a third party. In the case of borrowing with a guarantee, the creditor is usually a bank or a credit institution, while the third person is held liable for which of the guarantor – the borrower. With regard to the scope of a guarantee, a distinction must generally be made between a so-called “default guarantee” and a “directly enforceable guarantee”. In principle, banks only recognize a guarantee if they feel that the guarantor can actually step in if the borrower is able to pay. For this it is of course important that the guarantor is always a solvent person with good creditworthiness and sufficient ability to service the capital. Bank guarantees are always required if the actual borrower is not or only partially creditworthy. This can happen, for example, to students, the unemployed or temporary workers who want to receive a loan.

What do you have to consider as a borrower?

As a borrower, you should note that you need a guarantor for the desired recognition of the guarantee, which is proven to be creditworthy and has a good credit rating in this regard. Frequently family members, such as parents or siblings, are chosen as guarantors, which means that as a borrower, of course, has the great responsibility to permanently take care of a smooth loan repayment. According to the well-known saying “With money stops the friendship” should urgently be avoided that the selected guarantor must appear actively and in addition, monetary transactions within the family can be once again particularly precarious. On the one hand, as a borrower, you may of course be glad that the selected guarantor is on hand for the desired loan commitment, but on the other hand, it should be morally clear that the helpfulness of the guarantor must under no circumstances be exploited.

These aspects are important to the guarantor

domino

Anyone who is asked by a prospective loaner with credit problems, a good friend or family member, whether he takes over the guarantee for a desired credit agreement, should rethink his decision. Of course, the guarantee is in most cases of elementary importance for the loan commitment, but one must not forget that as a guarantor you make a big commitment. Guarantees should be taken over in this context only for third persons, which one can trust due to long-term experiences quasi “blindly”. As a guarantor one is responsible for payment problems of the debtor in the obligation to take over the monthly loan installment and in the case of an enforceable guarantee one is one hundred percent liable with one’s own private assets. As a guarantor, you should talk in detail with the borrower before you decide to take over the required guarantee contract. In a personal conversation, it is important to critically examine whether the borrower can even manage to meet the obligations of the loan agreement on a permanent basis.

Tips and tricks around borrowing with guarantors

If a borrower wants to apply for a loan and the bank demands the involvement of a guarantor, then one faces a difficult task. It is often not easy to find a friend or family member who agrees to take on someone else’s debt in the worst case scenario. Add to this the problem that for most people it is not easy to approach potential guarantors, to talk about their own financial situation and to admit that they would not get the required credit without help. Experience shows, however, that it is absolutely important that an open and honest exchange takes place between borrower and guarantor. Guarantees have often been the reason why a friendship breaks down or a good relationship between relatives breaks down. According to the motto “honesty lasts the longest”, it is important that the guarantor gets a fair chance at all to assess the risks of the guarantee he wants.

Conclusion: The guarantee is a popular credit security, which is often the basic requirement for banks to lend. In the case of a guarantee, a guarantee contract is concluded between the bank and a guarantor, who assumes the credit obligations in the event of the borrower’s insolvency. Legally, the guarantor thus becomes the debtor himself, which gives the bank a certain security. After all, the guarantor must be liable with his entire income and assets. In order to appear as a guarantor, you need an unlimited creditworthiness and a positive credit rating, which can easily be proven to the bank. Family members are most often chosen as guarantors, which in addition to the chance of the desired lending, but also brings the borrower great responsibility and risks.

0% credit – really a free loan?

Free credit: After Creditend, financingore now has 0% credit. It is given as a lender “financingore”, but if you look a little closer, it is the the same bank.

But is it really a free loan? Can there be such a thing? Somehow the banks have to make their money as well.

In our Creditend review and our financingore review we have already shown that you should not take everything at face value, what you see on the pages of the major credit comparisons. Above all, the initially stated APR is often just a rough trend, which changes with the information provided by the customer.

Update: Recently, Creditend even offers a negative interest loan That is, you pay back less than you borrow!

Thus, a loan can be more expensive than initially stated, for example, if the net income is lower than the bank desires.
In the case of this 0% loan, however, it is actually the case that interest rates are independent of credit. That means, as far as being accepted as a borrower, the 0% is safe. So it really is a free loan.

The only thing that really needs to be taken into account here is that you do not have any residual credit insurance in the contract and later on There are some reports in the testimonials on financingore’s page, indicating that these policies were included in the contract, although this was not desired.

But again the question: How does such a loan for credit comparison and the bank, which stands behind the offer? We found a response from the financingore spokesman: “Anyone who makes use of such an offer will come to our platform and may use it again if he is looking for a new offer.”

In other words, acquiring new customers seems to be enough to justify a 0% loan. The only risk that has to be taken into account is that one of the loans is not even granted. This can happen very easily, for example, as a self-employed person. In this case, the credit comparison and bank have been given a lot of data for free.

Otherwise you can recommend the 0% credit over 1000 euros of financingore but thoroughly.