Author Archives: David Walton

Loan for the self-employed cheap – your credit comparison

Credit for self-employed

If you want to take out a loan, you must first of all specify what the money is needed for. Subsequently, the bank will decide whether it is a small loan, a car loan or a real estate loan. However, when borrowing, there is another distinction: does a home buyer apply for the loan or a self-employed person? For a private customer, monthly income is used for lending and debt service calculation. As a self-employed, however, you have to submit other figures and the credit decision by the bank is usually tedious, making the loan for self-employed is a bit more complicated.

In addition, there are in fact a number of banks or lenders, which simply do not impart to self-employed persons because they are too risky.

Provider for self-employed loans

Provider for self-employed loans

A big provider, which is currently more and more established in the market Iwoca. This lender specializes in providing loans to entrepreneurs, small business owners and the self-employed. The online loan for the self-employed is uncomplicated and transparent.

 There are providers who know about the difficult situation of self-employed people when it comes to applying for loans. Especially the Targobank attracts attention by appealing to the self-employed. Here you have a good chance of a loan on reasonable terms.

As a self-employed apply for a loan

First, when borrowing, a self-employed person must be distinguished, whether it is a loan for a private purchase or an acquisition for self-employment. For example, if the entrepreneur needs a new car for private use, the economic situation of the company can usually be left out.

However, if a car is purchased for operation, or if a new machine needs to be funded for the business, then the company’s economic figures are crucial for lending. Both the balance sheet and the income statement or a current tax assessment must be submitted for this review. Based on this evaluation, it then comes to a cancellation.

Credit for freelancers

Credit for freelancers

Since self-employed and freelancers often do not have a secured income in the sense that this varies, for example, depending on the order situation, it is often more difficult for this professional group to get a loan than for other professions. Here we clarify what conditions must be met in order to still get a loan for freelancers.

Requirements for a loan for freelancers / Self-employment loan

The fact that the risk of default on loans is higher for freelancers due to cyclical fluctuations, for example, often does not suffice to provide proof of income. Instead, there are a number of other claims that potential lenders make to the claimant. Most common are these:

  • Self-employment has existed for at least two, better three years and there are other collateral, such as assets (real estate)
  • Of course, as with other borrowers, the Private credit Score should be as positive as possible
  • The freelancer must also prove that-and what income has been earned in the past months. Normally, the last three bank statements are required, from which the bank then calculates an average income
  • In addition, a number of other documents can be requested, such as a business evaluation (BWA), income / surplus calculation or profit and loss account or income tax assessment

However, these are just the “official” points. Also, the individual life situation is crucial, it makes a big difference if a self-employed management consultant with his family lives in the same house for years and thus in a “stable” life situation or if someone travels as a freelance photographer around the world.

Provider loan for freelancers

However, the overall situation has improved a little, with companies increasingly specializing in the market for freelance credit. An example of this is Iwoca, which virtually exclusively lends out loans to founders and self-employed.

An important alternative now offer P2P platforms such as moneyor. Here, the loans are given from private to private, so here everyone has the chance to get a loan.

 

Credit for entrepreneurs

A start up loan is, for obvious reasons, a particularly big challenge : no previous profits can be proven and there can be no assurance that profits will be made in the near future.

For this reason, one often has to look for specialized providers and funding programs here.

Requirements for a loan for entrepreneurs

To get a start-up loan there is usually one requirement above everything else: the business plan. The vision for the business can be as great as it pleases – if there’s no solid business plan behind it, no lender will risk it. What must a good business plan contain?

  • First, there are no formal compulsory parts that a business plan must contain in any case. But there are components that count as standard
  • A summary, so the most important points briefly formulated
  • Corporate goals and a company profile
  • Presentation of the business or product idea and what it brings to the customer
  • In which industry / market would you be active?
  • marketing strategy
  • What is the practical implementation of the idea?
  • Business organization / management and key positions
  • A representation of the strengths and risks of the company
  • Financial planning: determination of capital requirements and liquidity planning

Provider credit for entrepreneurs

As with freelancers, a relatively new alternative is P2P platforms, where private investors lend out loans. If you can convince yourself here, you can also get a loan.

Specializing in credit for existence founders and companies is also specializing in the platform Funding Circle. Again, this is an online loan for the self-employed

Loan for Self-employed Requirements – Collateral

As with almost all loans, a collateral must also be deposited in the case of a loan application by an entrepreneur. If the borrowing is private, then the cession of a life insurance or the conclusion of a residual credit insurance is sufficient. However, a self-employed loan for a business acquisition requires other collateral to be deposited.

For example, assignments of receivables may be required by the bank or even a mortgage on the business property. In the case of assignment of claims, the bank receives the right to receive funds from unpaid claims on customers. A mortgage can be made if the property is owned by the self-employed person. When purchasing a car or a machine, it is also possible to make a security transfer agreement. This means that the purchase can be used by the company, but remains the property of the bank until full payment. If the installment repayment is not complied with, the bank has the option to sell the item.

Do not be afraid of borrowing as a self-employed person

Do not be afraid of borrowing as a self-employed person

Of course, every bank knows that a company can only work if it invests in it. Therefore, self-employed should not shy away from a loan request. Simply fill out the loan request online quickly so that the bank can check the key data. For an exact credit decision it always comes to a personal contact, so that the lending for both sides can go quickly on the stage.

Private Capital Loans

Any entity that grants financing and that is not regulated by the Central Bank of Spain can be considered as a private capital credit lender.

One of the characteristics of companies that grant private capital loans is that they are not usually a physical entity, but rather, manage all their operations through online. Which, in fact, helps speed up the approval process.

The most outstanding products in the world of companies that finance private capital loans are fast loans and mini-loans. Since they offer us small amounts of money in a matter of minutes, ideal to solve economic problems that we did not have.

Another of the products that are most requested from these entities are the lines of credit to which many self-employed and SMEs turn to obtain a liquidity when they are delayed in payments of clients or invoices.

Get private capital loans without payroll

Get private capital loans without payroll

Most companies that provide private capital loans do not require a payroll to access any of the types of financing they offer.

For these companies it is sufficient to demonstrate that we receive sufficient income with which we can then pay off our debt on time. It does not matter if the source of its origin is a pension for retirement, unemployment, a subsidy, among others.

If we have alternative income to a payroll, for these companies to approve our request for private capital loans , it will be necessary to comply with the following 3 requirements: this source of income must be regular, justifiable and sufficient.

The source of income with which we are going to subsidize our private capital loans must be of an amount that allows us to repay the loan .

Most common mistakes when requesting private capital credits

When we ask for a financing from a private equity company, we have to take into account the type of commitment we are taking with it. Not only do we have to pay back the money that was lent to us, but we also have to pay the interest and do it within the period of time established in the contract.

So we should try not to make the following mistakes when requesting private capital loans:

  • Stay with the first offer we find: we limit ourselves to the first option we find and we do not dedicate ourselves to looking for a third option that most likely offers us better benefits.
  • Hire it knowing that we will not be able to return it: there are many cases where despair wins us and we assume a debt that we can not liquidate.
  • Fix only the advertised interest: If we go to a private equity company, we will find it easier to find financing that does not include commissions.

Determinants for the cost of private capital loans

Apart from interest, the cost of private capital loans is determined by several factors that will directly or indirectly affect the cost of financing that we want to hire. Some of them are the following:

  • The amount and the term; since the more capital and the term of the private capital credit that we request, the more interest I will have to pay.
  • The TIN, which is the Nominal Interest Rate of the loan without guarantee.
  • The APR (Annual Equivalent Rate), the most characteristic indicator to measure and compare the annual cost of loans without a guarantee of high amounts.
  • The commissions.

Loans from individuals 2019 – As an alternative to the house bank?

Scoring at Private credit is crucial

Scoring at Private credit is crucial

It does not have to be the forgotten bill that makes you drop in prestige at the Private credit. The score is calculated using various statistical values ​​that are not necessarily related to your ability to pay. If your score drops too far, for example as a result of frequent job moves or multiple small loans within a short period of time, you will not get a cent from many banks. Unfortunately, the Private credit score is often rated very high by banks, although it by no means reflects the actual financial situation of a client.

In the event that your Private credit score is too low, the credit marketplaces can help you to make many inquiries from home with just a few clicks. Here you also have the option of obtaining loans from private investors, even though the banks reject your requests.

Apply for credit via credit marketplaces

Apply for credit via credit marketplaces

Basically, the application is similar, as it does at a bank. They give out data on your personal circumstances, income, housing situation and existing loans and then receive offers. The difference is that you make a lot of requests with just one input of your data. The best credit market places from Germany for personal loans can be found here .

Most of the time you will receive the answers from interested parties within a few hours, provided that you submit the application within business hours. If you choose one of the offers, you usually only have to print out the contract, sign it and send it back to the creditor. What documents (bank statements or payslips) the lender needs, he tells you in his letter.

Benefits of a loan from private investors

The biggest advantage is that a private lender has different foundations than a bank. Many banks reject you as a customer in principle, if your Private credit score has dropped below 99. The private investor, on the other hand, is aware that you would not apply for a loan if you had no shortage of money and would be much more tolerant.

Another big advantage with private investors is that the new loan is not necessarily registered in your Private credit. This will be decided case by case, but this decision may be in your favor. You may have “cleaned up” your Private credit with your loan application.

The disadvantages

Not only does it benefit banks to shirk their loan application. This coin also has two pages.

For example, loans from private individuals are usually several percentage points more expensive than would be the case with banks. In this way, they protect themselves against the risk they bear by issuing loans to risk customers.

Another difficult issue is the protection against death, unemployment or disability. While the installment insurance policies are usually offered by default by the bank, the private investor will have no insurance in the hindquarters. Of course you have the option to look for a separate insurance.

One disadvantage that may not affect you at all is the maximum loan amount. If you and your spouse have an average income, you can get six-figure amounts from a bank. Especially when buying a home such sums are not uncommon.

For private investors, however, the sum is significantly lower. Mostly, a maximum of 25,000 EUR can be applied for here. Why this is, you should quickly understand, if you ask yourself the following question: Would you lend a person a six-figure amount, if you have never met them personally?

Apply for student loan 2019: Different variants in detail

 student loan

Students who leave their parents’ home to study and live in a university town often face significant costs. The rent even for a room in a shared flat, the livelihood, all the resources required for study and often travel costs ensure that the money is always scarce. Not all students have a secondary income, and at the latest in the last few semesters, they want to focus on the degree. For students who are not eligible for Federal financial aid and whose family budget is limited, a student loan is an option for funding.

  • A student loan can compensate for a missing Federal financial aid claim or for too little Federal financial aid
  • The financing of the study can be applied for via Intrasavings bank
  • The repayment modalities are manageable
  • A student loan calculator facilitates the calculation

1. Student Loan – what is it here?

Before it goes to the financing options, first a definition. As a student loan, sometimes student loan, only a loan is called, which serves to finance the study. Of course, students also have the opportunity to raise consumer credit to facilitate purchases. In this case, however, there is an installment loan or possibly the use of a credit line . The funding of the study should be conceptually delimited from it. Student loans are often the only way for many students to accept and complete the study of their choice, especially when their parents’ resources are insufficient or when several children’s education needs to be funded, given the rise in city center rents. Of course, there are a number of options for obtaining a degree or education through funding:

  • Federal financial aid
  • University loans and study scholarships
  • Student loan, for example through Intrasavings bank
  • installment loans
  • Savings and Payments Plans

2. Student Loan: What Students Should Know

If a student loan is required, it is always worth the exact consideration of the conditions. No matter what funding is chosen, the interest should not be excessive. In addition, the loan must be able to cover the livelihood to fulfill its purpose. At the same time, the repayment must be considered before the loan application is made. What are the prospects for employment after graduation? And: can the program actually be completed quickly? For the correct assessment of one’s own financial perspectives and the possible burdens a student loan calculator can be called in.

2.1 What does a student loan calculator do?

Student loan calculators are easy to find online. The easy-to-use computers allow the calculation of the required loan for the desired monthly sum over a desired duration, namely the study duration. Also, the repayment period and the required monthly installments can be calculated on some of the available calculators. If you use the calculator, you can also use a credit comparison to determine which offer best suits your needs. This allows you to filter out reputable providers and save a lot of money on student loans. In summary, the following factors should be considered

  • loan amount
  • Monthly payout
  • study period
  • Repayment period and installment charges

Applying for an installment loan can be quite easy - ING-DiBa also offers its credit online

3. What alternatives to the student loan are there?

3.1 Savings plans for studying: When the parents make provision

Lucky for all those whose parents have provided in advance. With an early savings plan, preferably directly after the birth of the offspring, can save up to the end of the school with a very small monthly saving rates a nice sum for the financing of education. Anyone who combines the savings plan with a payout plan can ensure that a certain amount is available each month. This type of asset formation makes a student loan superfluous, but wants to be planned on time.

3.2 Scholarships: Promotion without repayment

Particularly gifted students can hope for scholarships. However, these are not student loans in the true sense, since they do not have to be repaid. Scholarships are partly borne by industry to encourage future experts at an early stage through the promotion of young talent. Special gifted education organizations also award scholarships, as does the Bundeswehr. Some scholarships are subject to appropriate conditions, such as the obligation to later work at the funding institution at least for some years.

4. Federal financial aid: Federal funding for training

The so-called Federal financial aid is a monthly paid subsidy, which should create more educational justice and educational opportunities in accordance with the Federal Training Promotion Act. It is paid when the student and his or her parents’ financial resources are insufficient, and consists of a partial loan and a non-repayable grant. The advantage of the Federal financial aid is that it is an interest-free loan, the repayment of which must start no later than five years after the payment of the last subsidy rate. Thus, the conditions are of course favorable, but under unfavorable circumstances, the student receives no funding. This may be the case if parents earn too much but do not support their studies. In some cases, a parent who has long since broken off contact can be credited and thus block access to funding. If the maximum funding period is exceeded – that is, if the study takes too long – the previously existing funding can be discontinued. And last but not least, the funding that is available on a monthly basis is not always sufficient for a living. In these cases, a classic student loan is an alternative.

Federal financial aid: the conditions

  • The student is a German citizen and less than 30 years old
  • Monthly payout
  • Eligible college
  • Studying outside the place of residence of the parents
  • training
  • Parental means are not enough
  • Interest-free repayment from at the latest five years of the last disbursement

5. The classic student loan

If it must be a student loan, there are special financing solutions such as the Intrasavings bank Student Loan. The German Intrasavings bank, founded in the post-war years, is now the largest development bank worldwide. A student loan from the development bank is paid in monthly installments, which can reach a maximum of 650 euros. Thus, the credit accompanies the student during the training and allows him to cover the cost of living. Intrasavings bank charges the lending rates with the monthly payments. With increasing amounts of credit, the interest rates rise, so each year higher amounts are deducted from the monthly distributed sum. If a student receives a monthly sum of 300 euros, effective interest rates of 4.16% pa after the first year only pay 288.78 euros. After three years of study, more than 35 euros are already deducted monthly. However, in individual cases, the borrower can also make a deferral of interest with Intrasavings bank and later deduct the interest. Here, however, the development bank insists on performance records.

A credit comparison can often find lower interest rates

A credit comparison can often find lower interest rates

5.1 Flexible student loan solutions

The advantages of Intrasavings bank include the very flexible range of financing solutions. Not only does the promotional bank offer an educational loan for financial support during training, there is also a career development and further qualification Federal financial aid, and there is also a Federal financial aid bank loan for students who have exceeded the maximum funding period.

5.2 Intrasavings bank: repayment of the student loan

At Intrasavings bank, graduates have a so-called 18-month waiting period – during this period, the monthly interest is collected, but no repayment installments. The purpose of the waiting period: after completing the training, the student should be given the opportunity to look for a job before starting to pay off the loan. Those who find a permanent position immediately after graduation can, of course, immediately start repaying the loan. The borrower certainly has an influence on the monthly installments. The only restriction at Intrasavings bank: within 25 years, the loan must be removed. In addition, the promotional bank offers the opportunity to adjust rates twice a year on certain dates, ie to reduce or increase them, and special repayments can be made at any time free of charge.

Intrasavings bank student loan: the conditions

  • Students are German or EU citizens or family members of EU citizens aged 18 to 44 years
  • Monthly payout
  • Regardless of income
  • For degree programs at state-recognized universities
  • Interest rate approx. 3.55% p. a. is deducted monthly
  • Repayment begins after a waiting period of 18 months

6. Further financing solutions for students

6.1 Installment loans for students

Installment loans are also eligible for financing. This is the case when students need to make a purchase they depend on, such as buying a used car. Typically, financial services providers insist on collateral, such as proof of a fixed monthly income. This is not the case with students, so in most cases it is necessary to provide guarantors. For students, these can be parents or close relatives. Even with installment loans for students, the credit comparison is worthwhile, because the conditions can be very different. Some banks offer special financing solutions for students on good terms because they want to attract the borrower as a customer.

Installment credit: the conditions

  • majority
  • proof of study
  • Guarantors, such as the parents
  • One-off payment, earmarked or free, approx. 0.89% p. a.

6.2 Disbursement credit for students

The ability to overdraw the checking account, many banks also accommodate students. If this is used, however, one must expect high interest rates – higher in any case than they would have accrued in the case of an installment loan. Therefore, overdraft should only be used if an emergency actually occurs. Otherwise, the interest burden may burden the narrow student budget excessively.

7. Which loan for which situation?

The comparison of financing options illustrates the different conditions and costs. Above all, the interest rate differs greatly – while the Federal financial aid is interest-free, the interest rates of a Intrasavings bank student loan are higher than with a conventional installment loan, but are collected in a way that is compatible for many students. An interest extension is also conceivable. Installment loans can already be taken out with comparatively favorable interest rates, but here too the terms and repayment terms should be examined. At the Federal financial aid and at Intrasavings bank, the student benefits from a waiting period and a very long period of deduction, which is not given for installment loans.

Here is the question of what the amount is needed, and for how long. Covering the cost of living while studying for three to six years of average study duration can certainly best be achieved with Federal financial aid or a Intrasavings bank loan. If only a one-off purchase or a semester abroad to be funded, an installment loan may be the best solution.

Online there are numerous promotions and discounts, so you get much better terms

Online there are numerous promotions and discounts, so you get much better terms

8. So it works with the student loan

Anyone who has compared the offers and now wants to take out a loan must undergo different application procedures. When it comes to a student installment loan, follow these steps:

  1. Use credit comparison and choose the cheapest provider.
  2. Have the necessary documents, such as proof of studies and information on securities and guarantors.
  3. Complete the application and submit, in many cases, this is possible online.
  4. Wait for the bank to examine it and submit a loan proposal.
  5. Go through the legitimization process through PostIdent or VideoIdent.
  6. Accept the payment of the loan amount.

An application for a student loan from Intrasavings bank can be made online on the Förderbank’s website. The application process as well as the necessary documents are explained in detail. However, not every applicant receives a commitment from Intrasavings bank. If the corresponding study or performance records are not submitted or not submitted on time, the bank reserves the right to reject the application. Applicants who have once taken an affidavit can also be turned away.

9. Conclusion student loan: Worthwhile option for financing the training

If only with a financing study or further education can be tackled, worth a student loan, sometimes also a installment loan. Students whose parents can not support them are not always given Federal financial aid, and secondary employment is not an option for all students. A student loan can help cover the cost of living so that the student can complete his education quickly and without distraction. For example, Intrasavings bank awards classic student loans for training financing on favorable terms. But even installment credit can come into question in individual cases, because many banks grant students good conditions. Here, however, is often the teaching of guarantors, for example, the parents, a condition. A installment loan can help to make much-needed purchases, but it can also help finance one or two semesters abroad if the student and his family’s resources are insufficient. Here the conditions of the banks differ. Therefore, in each case, a credit comparison should be used and the amount of the loan, the duration and the monthly installments calculated with a student loan calculator, so that the best offer can be determined.

Mortgages Loans

The main idea that anyone has when applying for mortgage loans is to obtain viable financing to acquire a property.

Let’s review in depth the different aspects related to mortgage loans.

What are mortgage loans?

  • The mortgage loans are an agreement between the client and the bank with which it is agreed.

This entity entails certain conditions that we have to fulfill if we want to obtain financing, this pact, in turn, will bring some interests that have to be specified.

It is very important to understand these aspects at the same time to apply for mortgage loans, otherwise we have to make sure not to advance with the process without being previously informed.

Mortgage loans and their purpose

  • The purpose is common and maximum in these cases: you need a loan to pay the purchase of a property.

There is no endorsement and an entity is used to obtain mortgage loans in order to take the first step in the acquisition of a home.

Now we can briefly review some features of mortgage loans focused on first housing.

Mortgage loans for first home

  • Usually get mortgage loans for our first home is much easier than if you demand for another reason, let’s review below why these reasons.

First home mortgage loans carry less risk of default

When applying for mortgage loans a great aspect that is taken into account is whether it will be used for the purpose of a first home.

  • This is because, in case of not having credit to make payments, the last thing we would decide to make a default is a first home, because a place to live is a right that is not going to let escape.
  • In case our home is located in the center, it is much easier to sell, because the urban nucleus is a very coveted area for its positioning.

Mortgage fixed interest

  • One of the factors that are taken into account when choosing a fixed interest mortgage is not to carry surprises in the long run.

There is not a lot of news that comes to us from mortgage loans in which the interest was not fixed and varies without leaving reaction time to its owner, leaving him without any possibilities other than to accept the growth of his mortgage.

Mortgage fixed interest or variable interest main differences

  • Although it seems a very clear difference at first sight, there are some more that can not be ignored when weighing different options, let’s go over them.
  1. The main difference, in a fixed interest mortgage interest does not vary over the life of the contract agreed by the client and the bank.
  2. On the other hand, those that are not fixed interest mortgage tend to have a lower interest and we must take this into account when choosing a mortgage.

Advantages and disadvantages of a fixed interest mortgage

  • Despite having explained that it is a fixed interest mortgage and having briefly compared it with a variable interest rate, the first one has its respective advantages and disadvantages.

We need to know which are to recognize those that best suit our particular case.

  1. More interest:
    • Even being in a good time for the fixed interest mortgage the interest of this one is greater than the one of its opposite, this one usually wades between 2% and 3%.
  2. Reduced negotiation:
    • When offering a fixed interest mortgage entities tend to be less flexible in the other factors, for example: we find a good mortgage fixed interest but that leaves us a shorter time than desired to return the credit.
  3. A shorter term:
    • The entities that grant the fixed-rate mortgage know that they can propose a shorter term for the repayment of the loan and at the same time offer a somewhat lower financing.
  4. High Commissions:
    • Taking into account that it is not as much as in the past, the commissions continue to be higher, ending up with variable interest doubling to mortgages.

Variable interest mortgage

  • The variable interest mortgage, unlike the fixed interest mortgage has the characteristic of having interests that fluctuate each time a revision is made.

The variable interest mortgage offers a lower interest and this makes them a more attractive option, achieving, with this, being the most requested in many countries.

Another characteristic is that of being able to vary the interest, this will not vary every month or every year, but at the moment of making a revision of the contract, the interests can go down as well as rise.

Advantages and disadvantages of a variable interest mortgage

  • Having explained what a variable interest mortgage is about, we will analyze the disadvantages that these entail.

We will know which are to recognize those that best suit our particular case.

  1. A reduced interest:
    • The interest is lower, which varies a lot, being below 3% and is not fixed.
  2. Much more flexibility from the bank
    • The possibility that interest rates rise may cause the bank to offer us more opportunities in our variable interest mortgage.
  3. Longest term
    • The variable interest mortgage can offer us a longer time range
  4. Minor commissions
    • Having reduced a lot in recent years, the fees are at historic lows.

Mortgages and Maxibank

  • The Maxibank has been going down for a long time, reaching negative levels, mortgages and Maxibank go hand in hand and we have to keep an eye on these values.

Let’s review some factors to understand more how to choose the best time when asking for a loan.

Mortgages and Maxibank affect the quota increases

  • In a period of no more than 12 months we usually check our variable interest mortgage, as we have said mortgages and Maxibank go hand in hand and if at the time of this revision the Maxibank has suffered a rise, so will the interest on the mortgage.

We can not do much in this review, a trick is to know the month in which we made the mortgage and be attentive to the value of Maxibank to make sure that we apply the corresponding change.

Apart from the Maxibank, are there more things to be taken into account?

  • At the time of requesting a mortgage there are more things to consider and value before applying for our loan, then we give you a review
  1. It is unlikely that we will find the offer that best suits the first, we must be selective.
  2. Using a loan comparison, at us we offer you one free of charge.
  3. The most important thing is not the total that we will end up returning, there are more values ​​to take into account, such as the time margin, interest, commissions, financing, etc.
  4. We will negotiate with the entity as much as possible, never accept the first offer proposed to us.

Take advantage of the relationship in mortgages and Maxibank

  • In the case of knowing the relationship between mortgages and Maxibank we can take advantage of the situation, we will review a series of characteristics that carries the Maxibank in a mortgage.
  1. By depending on the Maxibank the variable interest mortgage has lower commissions, because they avoid steps that the fixed interest mortgage would make us do; opening commissions and risk commissions by interest rate.
  2. Greater financing, an increase that exceeds by 10% the fixed interest mortgage that can be a considerable help depending on the case.
  3. In the variable interest mortgage, the interest of the same varies each time it is revised, if the value of the Maxibank suffers a decline will also the mortgage fee.
  4. We are offered a longer time frame to make the full repayment of the loan.

Mixed Mortgage Loan

  • In recent years the mixed mortgage loan has become very fashionable, what attracts most is its mix between fixed interest and variable interest.

A mixed mortgage focuses on offering a fixed interest loan in the first years, once this period has elapsed the interest becomes variable and depends on the Maxibank.

The mixed mortgage is something new. What do the experts think?

  • The first thing that experts think about when weighing a mixed mortgage loan is to look for the offers and analyze them, they have obtained key data of the offers they call the most, we are going to analyze what they have discovered.

In the loan of a mixed mortgage the characteristics of the fixed interest loan and the variable interest loan are combined. Let’s review the strengths of this type of loan.

Greater protection in the mixed mortgage loan

  • Each day increases the range of possibilities when choosing a mixed mortgage, there are very attractive offers and many offer extra protection focused on the constant change that may suffer the Maxibank.

This attracts many people, as the ability of the buyer to limit interest from 1.8%.

100% mortgages

  • Mortgages 100% is something that was quite common before the financial crisis, the bank is responsible for offering a loan that covers 100% of the value of the home, it is even possible that the loan in mortgages 100% is extended in case of reform or purchase furniture for housing.

100% mortgages, difficult to get?

  • As we have commented since the crisis entities have stopped granting mortgages 100% so regularly, now it is more common to find offers called mortgages 80%, both in mortgages fixed interest and in variable interest mortgages.

The banks have become very selective with the profiles to which they grant mortgages 100%, we have said that they no longer offer so many, but not that they have disappeared, we are going to see in what a bank is fixed at the time of granting mortgages 100%.

The profile in mortgages 100%

  • Notice to sailors, get a 100% mortgage is an arduous task, we will have to look a lot to get one and, you may have to deal with the conditions. Here are some requirements:
  1. Our financial profile has to be very careful: By this we mean issuing an aura of financial security with values ​​such as:
    1. Monthly income exceeding € 2400.
    2. A job with a lot of antiquity
    3. Not be on any list like Financial Credit Institutions
  2. Our loan is focused on one of the bank’s floors: Not only on mortgages 100%, this gives us enough room to debate with the bank, banks do not like to have these homes empty.

Young mortgage

  • Before the age of 35, applying for financing, called a young mortgage, can be very tedious. From us we recommend the young mortgage, since they provide advantages (lower monthly fees) that other offers do not handle.

Let’s review some key notions in a young mortgage.

Requirements to apply for a young mortgage

  • Like other loans, young mortgages also set requirements to meet before granting any credit.
    • Previous savings: When we request the loan, they may request an amount that will not exceed 35% of the price of the home to which they will be allocated.
    • An indefinite contract or a stable job: It is something that banks are very aware of when offering a young mortgage.

Advantages in a young mortgage

  • Something that attracts a lot, since the advantages in the young mortgage are different and very attractive compared to the others.
    • They offer us longer terms to repay the loan since we have many more years.
    • The financing is higher in these cases, we can reach the mortgage range 100%.
    • The monthly installments go down due to the great margin of time available to us.
    • We dispense with the pension plan: Although we may need a home insurance or a life insurance.

Disadvantages of a young mortgage

  • When we refer to disadvantages we want to make it clear that we understand disadvantages as conditions that young people usually suffer.
    • Not having enough savings: A situation that involves having recently entered the world of work.
    • Lower work payrolls: Normal in a worker who has recently entered a company.
    • We present little job stability and we do not have enough work experience, something that, if available, is taken into account.

Bridge mortgage

  • The a priori functionality of a bridge mortgage is that of acquiring an extra home while we continue to pay a previous mortgage, a very useful type of mortgage with clear functionality.

One of the perfect situations to use the bridge mortgage would be: We are in a situation where, for example, we need more space and we find a perfect home. In this case we consider a bridge mortgage to acquire the new house while the previous one is put on sale.

How do I get a bridge mortgage?

  • There are some points that the lender entity takes into account before granting a bridge mortgage, are the following:
  1. A defined contract or present job stability: They are key to providing a responsible image.
  2. Income that supports us: If this is the case, the bank takes our request more into account, and if we also have previous savings, they can finance 100% of the home.
  3. No defaults on other mortgages: The bank will be clear that we are capable of facing this.
  4. Without personal loans with the same bank: As the entity questions whether we are able to face so many loans at once.

How much time do I have to sell the old house?

  • A deadline is always a pressing concern, and it is not for less in these cases, a bridge mortgage, as we have mentioned, helps us with a second mortgage while we sell a previous home.

The term given to us varies depending on many criteria and between the same entities, the average is in 3 years.

This is so given that the bank offers us an extra help to carry the two mortgages, but we mark a time limit.

What happens if I do not sell my old property?

  • In a bridge mortgage may be the case to exceed the term that we have imposed to sell the old property. If so, we will have to submit to the contract, which usually tends to make us start paying for the two homes and an additional cost for not having complied with the contract.

In the case that the house is sold we will only pay an extra cost as interest concept.

Mortgages at 40 years

  • As the name indicates are mortgages in which the return period reaches 40 years, there are other more frequent alternatives such as 30 years and 35 years.

This class of mortgages are almost directly related to the young mortgage, mortgages to 40 years is a term that takes time, we rarely find a mortgage that is not young and requires more than 30 years to complete.

40-year mortgages and their characteristics

  • Once again the advantages and disadvantages offered by mortgages at 40 years are similar to those of a young mortgage, let’s review the concepts.
  1. We are not interested in mortgages with a fixed interest, with such a long term the interest will be very high.
  2. We have more time, this translates into lighter payments.
  3. They will take into account our profile, because they always look for the perfect profile to distribute mortgages with security.
  4. We can discuss the terms with the entity, since having so much time can be more flexible.
  • Other characteristics that define them are the possibility of obtaining 100% financing from the bank. Despite having many advantages a big vote against is the fact of looking for mortgages at 40 years with variable interest, this makes us at the mercy of the Maxibank throughout the contract.

Subrogation Mortgages

  • Subrogation mortgages we go through the head at the time we stop being in accordance with our conditions for the bank. At that time we can consider a mortgage subrogation, which “transfers” the mortgage to another bank to improve these conditions.

Subrogation Mortgages, what conditions improve?

  • The maximum objective of subrogation mortgages is to improve our state, either because we do not agree with the current conditions or we think they are not entirely correct, we will see what conditions we can improve.
  1. Abusive clauses: At us we read dozens of complaints focused on this topic, one solution is to request a subrogation to improve our condition.
  2. Reduce interest: At the time of requesting subrogation mortgages we can get rid of associated interest or amortization, we also get rid of unnecessary links such as the one that creates a pension plan.
  3. Change the interest rate: A mortgage subrogation allows us to vary the interest rate that is applied to our loan, thus allowing us to move from a fixed rate to a variable rate and vice versa.

This will depend a lot on each personal situation.

Does subrogation mortgages involve expenses?

  • Being much cheaper than starting a new mortgage subrogation mortgages brings a series of added expenses that we must take into account when it comes to see if it benefits us in our personal situation.
  1. Subrogation Commissions Mortgages : Although most banks apply them, there is a party that has withdrawn them. In cases where they are applied, by law, they are limited to a cap that decreases each day more.
  2. Commission for opening: It is not in most cases but some usually present a commission of 1% of all the capital that we have not yet amortized
  • A part of this is necessary to discuss with the entity any cost, since a mortgage subrogation is not free, presents a series of expenses that vary depending on the bank with which we speak.

At us we recommend that there be a smooth communication between the two parties in order to clause as they are not entirely clear.

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

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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.