Pay off loans by consolidating

Purchase of loans

Loan providers offers you the possibility of consolidating several loans in progress, such as a real estate loan, a consumer loan or a revolving loan. The groupings of real estate loans are detailed in the section “The purchase of real estate loans “. marabi.net has more notes

With such a purchase of loans, you manage your budget more simply and thus more efficiently. Indeed, it allows you to benefit both single rate and a single interlocutor for all loans but also to pay only one monthly payment, whose date, duration and amount are defined according to your needs and your projects. The loan repayment period is between 6 and 180 months (15 years) while the loanable amount can vary between € 2,000 and € 300,000. The fees are negotiable. Any request for the repurchase of loan passes before a jury of professionals; Correct preparation of your file is essential to further improve your chances.

This financial product offers you the opportunity to reduce the total amount of your monthly repayments by extending the repayment period. This is a viable solution against overindebtedness.
 loan providers loan purchase
 Minimum borrowing amount: € 2,000
 Maximum amount borrowed: € 300,000
 Minimum loan period: 6 months
 Maximum loan duration: 180 months
 Application fees: Negotiable

Purchase of real estate loans

Purchase of real estate loans

The loan providers real estate loan buyback allows homeowners to consolidate all their loans and to take advantage of the many advantages provided by loan consolidation: lower monthly payments, contact with a single interlocutor … Your advisor will suggest a fixed or variable rate for your mortgage repurchase. This rate is calculated without the borrower insurance, the file and management fees. The repayment term of the loan is 15 years.
 Fixed rate for repurchase of mortgage, 4th quarter 2015
 Duration of the 15-year loan consolidation
 Highest rate: 2.60%
 Lowest rate: 2.10%

Rate of repurchase of real estate loan calculated except borrower insurance, expenses of file and expenses of management.

Benefits 

The loan consolidation proposed by loan providers allows French households to control their debt. Many families have opted for this refinancing solution and have emerged from their problematic situation after a few years. They have even been able to envisage new projects thanks to the adaptation of the monthly payments according to their incomes and the personalized follow-up of one and the same advisor. The latter takes care of all the formalities of the old loans.

Loan providers has become a real online bank. A personal online space allows you to contact your advisor, monitor the progress of your refund and monthly payment.

Simulation of loan consolidation

Loan providers offers you an online loan simulation. This free and personalized service will guide you in your choice of financing so that it is the most adapted to your situation.

Interactive levers allow you to choose the amount of the monthly payment and the duration of the refund while the necessary amount, corresponding to the total capital remaining due, must be manually encoded. A graph then reveals you a couple duration-amount of monthly repayments. A saving can be constituted and signified during the simulation by ticking the corresponding box.

These targeted simulations will enable you to better prepare your loan consolidation request by indicating in particular the total cost of the operation as well as the cost of the loan at the fixed interest rate. This tool gives a good overview of your future grouping request.

However, it is advisable to make an appointment with a bank advisor to make a more personalized study of your situation, by phone or agency. It is recommended that you go directly to an agency to study your situation as a whole and to negotiate some elements such as the fees. Refer to the “Contacting loan providers Customer Service” section.

What is a loan with or without proof?

Let’s be clear: a loan without proof does not exist! Whether you are applying to a bank or credit company for your loan application, you will always need to provide a minimum of documents (pay slips, account statements, etc.).

In concrete terms, the term “loan without justification” refers to credits for which a demand for liquidity does not have to be accompanied by an estimate. We are talking about the so-called “unaffected” personal loan, as opposed to so-called “affected” loans (car loans, mortgages, holiday loans, etc.) for which a reason must accompany your application.

What is the difference between a loan “without proof” and “with proof”?

A loan without proof does not exist. The term (which instead means “unallocated”) includes credits for which a reason for the borrowing of cash is not essential: it will be called personal loan (or installment loan).

Be careful : even if a loan is said to be “without proof”, most banking organizations (bank or credit company) will ask you for what purpose the loan will be applied.

This type of loan is opposed to appropriations known as “assigned” (or “with proof”) for which a written proof must accompany your application for credit . This will be the purchase order of the car mechanic for the car loan, the sales agreement of the real estate agency in case of mortgage loan, etc.

Subject to acceptance of your file, the amount borrowed will be directly paid into your bank account (not the seller’s account), and you can then use your money as you wish.

What is a personal loan?

What is a personal loan?

A personal loan (or “installment loan”) is an “unallocated” (or “unsupported”) consumer credit that allows you to borrow money to finance the personal project you want.

With personal credit, no bad surprises! When signing the contract with the bank or credit intermediary, you know the duration, the interest rate, the total amount you borrow and the fixed monthly payments you will have to repay.

You are finally required to repay the entire loan on the agreed date (and in case of early repayment , you will have to pay a reinstatement fee).

What documents must be submitted when applying for a loan without proof?

Do you want to apply for a loan “without proof” (or personal loan)? You will need to be able to present, among other things, the following legal documents:

  • A copy of your identity card (or residence card) and / or co-borrower;
  • Salary slips for the last three months;
  • Account statements mentioning proof of income;
  • Your other sources of income (for example: your family allowances)
  • The latest warning-role statements (if you are freelance or freelance);
  • Written proof of the regularization of your situation 
  • A copy of your credits currently being refunded (if you wish to carry out a credit consolidation).

You do not work ? As long as you can show regular income, you can get a loan.

The foreign currency loan – Return on exchange rates

 

A foreign currency loan is taken outside the eurozone. These loans have the peculiarity that they are “maturing”, ie during the term only the interest is paid and at the end of the term, the entire loan amount is repaid in one. Consumers hope for better conditions than the regular installment loan .

Why foreign currency?

Why foreign currency?

The foreign currency loan is requested outside the Eurozone. Due to changing and fluctuating exchange rates, credit terms may be worse or better. In order to do good business, it is necessary to have a low exchange rate and a high valuation of the foreign currency against your own currency. The level of interest rates in the country in which the foreign currency loan is to be raised, but also the changes in the exchange rates, can make for a very good deal.

Term loans, what is it?

As mentioned earlier, the loans are final, which can also be beneficial. If the interest rates are favorable and only these are repaid in the term, the customer has a huge advantage. He only pays the lower interest charge and can wait until the end of the term to settle the entire loan amount. Usually, the customer then expects a larger sum, with which he can then pay his debts. Always with a view to low interest rates in the financial markets.

Risk of a foreign currency loan

Risk of a foreign currency loan

Ultimately, taking a foreign currency loan is a risk. The borrower always has to expect that the loan will be higher than a normal loan. Fluctuations in exchange rates and their increase may drive up interest and loan amounts. Normally, such loan agreements do not have a longer interest rate commitment. You can insure against a premium that the interest level does not go beyond a certain level. In addition, it is expected that additional costs, on the one hand for the newly created account and the fees of the currency exchange come to it. The bank also gets its commission, which ultimately increases the credit again.

Resumé on borrowing in foreign currency

 

Assuming that the interest rate is almost half of a normal loan, the above fees and commissions are always saved. As prices rise, interest rates decrease and customers only expect benefits. Companies have been using this financing option for a long time, which is why private customers are on the rise. The condition, as with all other financial transactions, should be to obtain sufficient information about these types of financing.

 

The Student Loan: There is something to be aware of

A student loan can be the savior in distress for some students. Nevertheless, one should pay attention to borrowing

Apprenticeship years are not men’s years. Everyone knows this saying and most people know that there is something true about it. Jokes about poor students are just as well-tried. During the study it is about learning, acquiring knowledge and, for most of them, managing with little money. It’s been like that forever.

Anyone who has a time-consuming course of study, can not work on the side, or who is not sufficient for or otherwise can not afford it, has the opportunity to take out a student loan and thus live with a secure financial position for the duration of the study. Student loans are independent of parents, can be applied for in addition to and are subject to no credit check at most banks.

Before you decide on a student loan, you should think about it thoroughly. High credits are haunting you for a long time. Last but not least, studying is not a guarantee for a job or a good salary, which means you could be in debt for decades in an emergency.

Borrow , ie have completed the age of 18.

Student loans are awarded to students at state or state-recognized universities in Germany. Furthermore you can

The basic first degree or second degree

Supplementary, supplementary or postgraduate studies (postgraduate studies)

The master’s program

The period of a promotion financed.

Due to various offers can be found basically for each of the appropriate student loan. Most of the student loans go through Bank, which cooperates with the best-known big banks.

Entry information appears only if you are in default with your repayment. The student loan has no negative effects on your entry information or on your entry score .

However, your student loan can be rejected if

An affidavit has been made.

An arrest warrant to enforce the affidavit is available.

Personal bankruptcy was filed.

Your credit rating at the beginning and does not have a negative effect on your entry information, nevertheless it will accompany you for a long time in your life. Whether with or without student loan. we help you monitor your finances and improve your credit rating . Here are some things to consider when studying credit . And otherwise? Register now, keep your financial situation in view and look forward to useful tips to improve your credit rating. Start your financial life directly responsibly and thoughtfully – together with us!

Which different home savings loans are there

Anyone who has created a home savings contract as part of a long-term consideration, usually wants to spend money on real estate at a later date. After a certain amount has been paid into a home savings contract for several years, the bank can pay out a building society loan to the saver. The money for real estate may be officially used only for residential purposes. In most cases, the saved amount for the acquisition of home ownership is not enough, so that a home savings loan must be taken. Different types of home savings loans are offered by the banks on the market, which are essentially different from the type of financing and its repayment method.

The classic financing

Anyone who thought that there was only one form of repayment of money for real estate was wrong. The best known loan is the installment finance. The money is repaid in equal amounts to the financial institution. The monthly installment consists of an interest and repayment portion. The term can be shortened if the monthly repayment rate is increased. On average, such funding is repaid after 30 years.

Financing through life or pension insurance

The purchase of a property may provide tax benefits. The life insurance can be given in the form of a financing to the bank. So you pay back during the term only the interest. End of the term of life insurance, this amount is used to pay off the remaining loan amount. With this form of financing one must note that the income from life insurance is no longer tax-free in full. Compared to the classic financing, the so-called repayment loan, the total cost is usually lower.

The annuity loan

The annuity loan

A very unknown form of home loan is the annuity loan. Here, one pays constant amounts back to the bank, whereby the repayment and interest portion is significantly influenced by the degree of annuity. The degree of annuity depends on the duration of the fixed interest rate. As a result, the interest portion per installment decreases almost imperceptibly and the repayment portion increases. In order to have a good chance of saving on this loan, at least 1 percent of the total loan amount should be repaid in the first 12 months. At the end of the repayment term, the loan is fully repaid.

 

The construction loan

 

With the construction loan you can finance your own home. Among other things, your credit rating is important for the approval.

A construction loan, sometimes known as mortgage lending , is a long-term loan with the purpose of acquiring, constructing or renovating a property or rescheduling. For a construction loan equity is necessary in most cases, which covers at least the additional costs of building a house. Loans without equity are also possible, but significantly more expensive.

Construction loans are secured at the bank by a land charge registered in the land register (mortgage or sometimes also with a mortgage).

This is a security measure that entitles the bank to mortgage the property in the event of long-term repayment. Since the bank grants itself a high level of collateral , the credit risk is quite low, which in turn results in favorable interest rates. Therefore, the building loan is earmarked .

Basically, there is no maximum loan amount.

Basically, there is no maximum loan amount.

 

The amount of the loan depends more on the individual assets and income of the borrower and the value of the property.

remaining debt is negotiated on new terms. This so-called follow-up financing can be agreed with the same institution or with another lender. For follow-up financing, a thorough comparison is required again. Often it is possible to save again here and to repost the building loan on more favorable terms.

Holidays , nice restaurant visits and the like you certainly do not want to miss and belong to the quality of life. Last but not least, quite different things happen in life, such as marriage or children.

Try to estimate and plan all such events and financial changes as best you can, and use this list to set a realistic rate plan. Consider also the above-mentioned austerity measures when it comes to any future maintenance and repairs.

The biggest mistake is to overestimate yourself and then be overwhelmed with the repayment.