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Take out a mini-loan online or with a mobile phone

 

Mini loan without BKR

Mini loan without BKR

A mini loan is a small loan of up to 1500 euros. The entire loan must be repaid within 30-62 days. In America, mini loans are called ‘payday loans’. A loan that is repaid immediately on the payday. Financiers abroad provide mini-loans to people with a negative BKR. The lender makes an assessment of whether it is justified to provide a mini-loan. Please note: the mini credit can only be requested if you have a permanent job with a minimum of 1000 euros in net income.

Take out a mini loan easily?

Take out a mini loan easily?

Although it can be easy to take out a mini loan with a negative BKR, there are some conditions. As a rule, one must have income from a permanent employment contract. The income must be at least 1000 euros net. Student finance is exclusive. People on benefits, temporary employees and self-employed persons are not eligible. The mini loan without BKR must be repaid in 1 x after 30 days. Or within 62 days if you borrow 1500 euros. If you want to borrow 1500 euros, you must have a reasonably good credit rating. The lender determines this on the basis of your data.

Collection costs

Collection costs

Unfortunately, the reality is that some of the customers cannot pay back their mini-credit on time. After a number of reminders, the lender will hand over the debt to a collection agency. The latter will try to collect the debt by sending bills plus collection costs and fines. These amounts can add up considerably. Therefore, only take out a mini-credit if you are sure that the loan can be repaid. Also check the possibilities with the municipal credit bank. They help people with the lowest incomes. A loan from the municipality will require considerably more time and paperwork.

Borrow 5000 euros: 4000 euros in deposit

Borrow 5000 euros: 4000 euros in deposit

Do you have no negative BKR coding and a permanent job? Then you may be eligible for a cheap loan. The minimum credit is 5,000 euros. With a revolving credit you can, for example, withdraw 1000 euros and leave the remaining part of this cheap loan on deposit. This means that the money can be withdrawn if needed. Money that is on deposit is paid no interest on it. It is only available.

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Credit Rating | The Impact of the Personal Payday Loan on the Credit Rating

An individual’s credit rating is the client’s risk assessment. It then designates a set of financial tools that automatically assess the solvency of an individual, as well as the risk of non-repayment of loans. For a state, an organization or a company, it is more commonly called a financial rating.

Faxines and TransCred calculate your credit rating in Canada

Equifax and TransUnion calculate your credit rating in Canada

In Canada, the credit rating is calculated by Faxines and TransCred. These are information centers to which your creditors transmit their data on your credit habits. Even if your consent is still required, they testify to your ability to use credit instruments responsibly.

Credit rating, avoid too many requests

Credit rating, avoid too many requests

Each new credit application lowers your credit rating. Indeed, every time a lender checks your credit report, he will leave a trace in your file that will lower your credit rating.

However, if you are shopping for a mortgage or car loan, requests made within 2 weeks are grouped under one application. Which affects your score less. In summary, a personal payday loan does have an impact on an individual’s credit rating. To limit this negative effect, however, it is sufficient to consolidate several loans under a single loan made at one time. It is indeed the repetition of credit applications that is expensive in the credit rating and not the loan amount.

To avoid losing points in your credit rating, you can also make a personal payday loan without a credit check. This is one of the many forms of loan that you can choose.

How to keep a good credit score?

How to keep a good credit score?

Other methods can help you maintain your credit rating at a good level while making a personal payday loan.

Avoid late payments

Accumulating regular delays in your invoices, especially for 60 days or more, negatively affects your risk assessment. Banks do not like to lend to someone who can not pay on a regular basis. So always try to pay your accounts before the due date.

Limit the opening of new accounts

Although it is good to have a variety of credit tools (credit card and a line of credit for example), it is best not to open multiple accounts for the same type of credit. For your credit rating, it is better to have only one credit card.

Keep your old credit accounts open

The older your credit account is, the more it has a positive impact on your credit rating. The history of these accounts demonstrates your ability to pay and how you repay.

Lower your balance on your credit cards and lines of credit significantly.

If your balance is more than 50% of the limit, your score will be penalized. On the other hand, going down below 30% of the limit will significantly increase your credit rating.

In finance, it is often said that banks lend only to those who do not need money. Follow these tips as they will help you make a good impression on your credit report and improve your chances of borrowing. A personal payday loan certainly impacts your credit rating, but following the tips above will give you greater freedom of borrowing and make it easier for you to manage your personal finances.

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What are the pros and cons of a revolving credit?

Sometimes it is necessary to have a cash reserve. If you have not saved for this, you have a problem. Fortunately, you can solve sudden expenses that you cannot pay yourself with a credit. A revolving credit can offer a solution for this. Revolving credit is a bank term for a consumer credit in which the loan amount can be fully or partially taken up again during the term. Interest is charged on the outstanding balance of the credit. What are the advantages and disadvantages, however?

The most ideal situation for such a credit is when you know that a certain cost is imminent, but you cannot predict how much it will ultimately cost. Consider, for example, the repair of a car, the purchase of a new refrigerator or additional costs for the renovation of your home. A cash reserve is therefore recommended in such situations. A revolving credit is often cheaper than a cash credit (going below zero in your bank account) and can therefore be a good solution in some cases.

When we think about borrowing money, we think about banks. At least that was how it used to be. But in recent years, many lenders have sprung up like mushrooms and the possibilities for borrowing are now endless. There can be quite a difference between all those lenders, so comparing is the message. It is therefore important to find the cheapest provider – that is, with the lowest Annual Cost Percentage. Via the internet you can quickly make comparisons between the credit providers through their websites, and request a free quote using the handy simulator tool. You enter some data, such as what you want to borrow, how old you are, whether you have work and so on and within a few seconds you know where you stand.

Benefits of revolving credit

Benefits of revolving credit

  • you do not have to withdraw the entire amount at once
  • you only pay interest on the amount withdrawn
  • you can withdraw repaid amounts
  • you can always repay the loan in whole or in part without extra costs

Cons of revolving credit

Cons of revolving credit

  • Because you can easily withdraw money again, many people never repay the credit completely or repay much longer than with a personal loan
  • Because the interest rate is variable, the interest rate may rise during the term of the loan
  • Due to the possibility of re-taking you, you never know exactly when you will get rid of the loan

A loan can help you make an expense, it is and remains a cost. A small amount to borrow, you may not have to think about that for long. It seems so tempting to do. But don’t let it become a habit. There must be a certain point that, to the extent possible, you can save your own money and use it in an emergency. There are always family situations where that does not work, but where there is a will there is a way and you can achieve something yourself if you do that with full dedication.

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Without capital to undertake? Achieve it with an easy and fast loan of up to Q80,000.

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One of the best decisions you can make to achieve financial stability is to start your own business. Being your own boss not only gives you freedom in your schedules and decisions but also has many benefits for your pocket like: job stability , financial independence and of course, the ability to increase your income.

Your own business definitely sounds like the best job option, so what stops so many people from making it possible? Most of the time you don’t have the necessary income to start it or rather, don’t take advantage of the financial options that are at hand. As an example, an easy and fast loan gives you the help you need to make your business a reality.

At Good Finance we want your dreams to have no limits, so we support you with a credit of up to Q80,000, with incredible benefits that help you take care of your budget. Keep reading to get to know each one of them.

Benefits to acquire capital to undertake

An uncomplicated credit

An uncomplicated credit

Forget about long lines and endless paperwork! You can start the process of your loan from our online form, WhatsApp or by phone. In addition to other companies, you only need basic requirements and best of all: Once approved, your credit can be activated in 48 hours!

Customized fees

It is important that you choose a loan that allows you to take care of your budget while you grow your business. In Lohengrin your financial situation to give you fees that you can pay. Best of all, you build a good credit record that will make it easier for you to acquire more money for your future projects!

To keep your financial life in order, there is nothing better than privacy. Or you have the confidence of obtaining a credit that believes in you and your projects.

Safe and transparent

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One of the most important things when acquiring a loan to start your business, is to be sure that the financial entity that provides it is responsible. With Lohengrin you get better options than others in the market by being a solid company that gives you transparent conditions.

Freedom to choose your payment term

Freedom to choose your payment term

With Lohengrin you choose! Accelerate the pace of your business and your financial goals by choosing the payment term that best suits your needs: 12, 24 or 48 months.

Obtaining financial stability and incredible benefits is possible! Throughout this year we will be rewarding your timely payment with the Good Finance benefit of up to Q15,000. Remember that every month there will be prizes!

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Tips for borrowing money | How to borrow the best and cheapest money

Tips for borrowing money

Tips for borrowing money

If you are about to borrow money then you can use some money borrowing tips. Are you going to make a major purchase or are you planning to renovate your house? In that case you could use a little more financial room. You can save money for this, but you can also take out a personal loan or request a revolving credit.

Personal loan

Personal loan

When we talk about borrowing money, we start with the fact that you always have to borrow with your mind. It is fairly easy to apply for a loan during this time, especially now with the low interest rate for a personal loan or on the revolving credit. Before you apply for a loan, consider what kind of loan you want to take out. Do you want certainty? Then the personal loan is the best option for you. If you take out a personal loan, you know that the term, the interest and your monthly repayment always remain the same. Before you apply for a personal loan you will first have to compare the personal loan providers.

Borrowing for buying a car
The personal loan is the ideal loan for products or services that you do not expect to use for decades. We take buying a car as an example. The chance that you keep driving the same car for 10 years is rather small. Therefore, do not take out a loan for buying a car whose term is longer than the life of the car. It is also less sensible to take out a revolving credit for this. Since you can withdraw extra money with the revolving credit, it may happen that you have a much longer term than you drive in the car. The personal loan is therefore the ideal loan for buying a car.

How much can I borrow

How much can I borrow

How much can I borrow? Is a frequently asked question. Never borrow the maximum amount you can borrow. Try comparing the lenders who offer a personal loan. Low interest rates and good conditions are the points that you should pay attention to. If you already have a personal loan, it is also important to compare the providers. In that case, if you have found a provider with a lower interest rate, you can switch. Bear in mind that transferring a personal loan will not be without penalty. The penalty that is calculated may be a maximum of 1 percent of the outstanding amount. You will understand that you have quickly recovered the fine in this way.

Revolving credit

Revolving credit

Another option to borrow money is to request a revolving credit. With this loan form you go for flexibility. With a revolving credit, you do not know in advance what the interest will be over the entire term. Even the term of the revolving credit is not fixed in advance. We already wrote it, you close the revolving credit if you want more flexibility. You can withdraw extra money if you have taken out a revolving credit, but you can also repay it earlier without penalty. Ideal if you always want to have extra money. With the revolving credit, the interest is not fixed for the entire term, so you do not know the costs exactly in advance.

With revolving credit, it is also important to see where you can borrow at a lower interest rate. If you find a lender who charges a lower interest rate, you can transfer penalty-free.

Mini Loan

Mini Loan

If you are really tight and your salary is not yet paid then applying for a mini loan is a good option. With a mini loan you can borrow amounts from 100 euros to 1000 euros. The mini loan stands for borrowing money quickly, it is possible that you already have the money in your account the same day.

Borrow money quickly without BKR

Borrow money quickly without BKR

In most cases, no BKR review will be carried out with the application for a mini loan. Borrowing money without BKR is only possible with the mini loan. You must keep in mind that the duration of a mini loan is very short. The duration varies from 15, 30 and 45 days. But if you know that you will have enough money during this period, you can easily request a mini loan. Due to the relatively low amounts, it is even possible to borrow money with benefits. This is called borrowing without a payslip.

The tip that you should always remember is that borrowing money always costs money. It would therefore be better to save money. But we know that this is not always easy for everyone. So if you are going to borrow, first compare the lenders so that you never pay too much when you borrow money.

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To invest with a securities credit

Borrowing to invest?

Borrowing to invest?

Define the risk profile

Is taking out a loan to invest a good choice? And where can you apply for such a loan? To answer the first question: it is risky to borrow money for an investment. Banks therefore work with a risk profile. You must indicate in advance what risk you want to run with your investment. In this way it is clear to both parties (the bank and you) where you want to invest the money.

By answering a number of questions online, your choice is recorded. For example, you may be asked what your main objective is to invest? Is that just capital growth or is it a necessary supplement to income? How do you react in the event of a sharp fall in prices? What loss are you willing to accept? A portion of your money or all your stake?

Bitcoin

In 2010 someone paid 10,000 Bitcoin for two pizzas. If you consider that a single Bitcoin now costs more than $ 15,000 …. You can invest in the Bitcoin. Want to read more about buying Bitcoin, Ethereum and a wallet (to put in the Bitcoin).

Securities credit

With a securities credit, your shares are given as collateral to the bank. As a result, the bank has certainty that they will get back a certain amount of the borrowed money. As long as the value of the shares is higher than the loan, nothing is wrong. However, if the prices fall and your securities portfolio is worth less than the loan, the bank can signal that money needs to be added. If you cannot deposit additional money, the bank can decide to sell the securities portfolio (in part). It is quite possible that you will be left behind with a considerable loss.

How much can I borrow to invest?

How much can I borrow to invest?

This depends on your personal situation. First of all, your spending space is important. Are you single or do you have a family? What is your source of income? Payroll service, benefit or benefit? Do you have a rental house or a house for sale? Does your partner also have income and is this calculated to apply for a loan? If you have a large spending margin, the interest on the loan can be low (5%). If it is less easy to pay off, the bank runs a higher risk. You have to pay a higher interest rate that can rise to more than 10%.

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Simulate Mortgages – Initial Data

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After a few years with credit spreads housing above 4% -5% is time for the bank to make downward revisions of the spreads in an attempt to attract new customers and re-grant credit.

In this article, we will introduce you to some factors to consider in choosing your bank. To help us, we’ll consider a hypothetical simulation.

Type of property

Type of property

To make your housing credit simulation you must provide your personal data and some data concerning the business. In particular, the value of the deed, the estimated value of the valuation, the value of the loan and the desired term (the latter may vary to simulate different installments).

One of the most important factors to consider in the simulation is the Financing / Guarantee item, as you can see in the table below. In most banks, this heading is the main indicator for determining the spread. So, if you want the best spread for home loans you should aim to have as low a rate as possible.

According to this indicator, we have a spread of 1.65% for a loan of EUR 100,000 and an assessment of EUR 120,000, right.

Two Questions About the Housing Financing / Assurance Ratio

Two Questions About the Housing Financing / Assurance Ratio

  • What happens if the Financing / Guarantee ratio falls, that is, if the valuation is well above the expected value?
  • And the opposite, that is, if the assessment is lower than the predicted values.

These questions are pertinent even because in the generality of the times and whenever the value of the evaluation varies in the downward direction. That is, it is verified that the value is lower than expected, there is an update of the financing guarantee ratio and consequently the spread.

What happens is that after the client has borne burdens with the request for housing credit and appraisal and see their credit become more expensive, they end up accepting the new conditions because they do not want to start all over again in another bank. Therefore, it is important to know the consequences of such a change, as these may influence the preparation of your budget.

Similarly, anticipating the possibility of trading if the valuation value is significantly higher than the amount predicted is an important step in the simulation of housing credit. The majority of banks do not make any changes in the spread in the downstream direction of the market even if the risk conditions of the operation have significantly improved. Therefore, it is prudent to provide data at the time of the simulation which gives it a margin of safety in case of a potential change.

What to do to avoid these commissions?

What to do to avoid these commissions?

There are several banks that do not charge this type of commissions. It is only natural that with the progress of the process that has to be borne by the committee opening the dossier and the evaluation committee. Despite this, there are banks that exempt some commissions.

A study and monitoring of a mortgage lending process can help you save several hundred euros, not only in commissions as in interest and in the premium of various insurance. And best of all is that this process does not have any cost. Why not submit your case and see how much you can save?

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Cost Redemption Credit

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Here are the different costs that can be charged when buying back credits, an operation to reduce the amount of monthly payments.

Cost and operation of credit redemption

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Many borrowers who have taken out a mortgage and / or consumer loan are engaged with banking institutions that repay their loan in the form of monthly payments, ie an amount to be reimbursed each identical month if the interest rate is fixed. (more than 90% of cases in France). The redemption of credits is therefore a banking operation that offers a borrower the choice to collect its loans in a single loan at reduced monthly rate. Each month, the borrower then reimburses a lower total monthly payment, allowing to rebalance his budget and reduce the debt ratio. In addition, during this operation, the borrower may also be granted an additional amount, under certain conditions. The borrower must have an assigned project (purchase of a vehicle, works, travel) and he must be able to respect the terms of the contract.

The redemption of credits: what cost?

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The total amount of the new loan includes several types of fees depending on the amount redeemed and the transaction carried out. The operation of repurchasing credits is possible thanks to an extension of the duration of the loan, which allows the reduction of the monthly payment. Depending on the type of credits, prepayment allowances may be requested. Added to this is a processing fee (banker or broker), payable only if the file is financed. Generally, it is the financial institution that is responsible for remunerating the broker in charge of the file, there is no transaction between the borrower and the broker. If there is the guarantee of a mortgage in the operation, then it will be necessary to provide notary fees. Added to this is the insurance fee, however the insurance remains optional but is strongly recommended. It is possible to perform a free online simulation to visualize what this operation can provide as solutions and quantify an estimate of the cost of the operation.

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Credit Redemption: Maximum Age

credit consolidation

In theory, there is nothing to prevent an active or retired senior borrower from qualifying for a credit consolidation (real estate and consumption), but in practice the borrowing conditions of this borrower profile are often quite different.

Credit buyback: an option adapted to all profiles

Credit buyback

It is not because a borrower is senior that he does not necessarily need to reorganize his finances, reduce his monthly payments or optimize his debt ratio. If in theory, all major borrowers can claim a credit union, the reality is quite different for seniors (from 65 years). Lending institutions are more cautious about the clientele of senior borrowers because of the increased risks associated with illness and age. In fact, the longer a borrower ages, the greater the risk that the lending institution takes. However, aware of the potential of senior borrowers, banks, credit institutions and insurance companies have adapted to the aging of the population. Specific offers have emerged to allow this borrower profile to enjoy the benefits that can have a pool of credit (real estate, consumption).

Buyback credit, age of the borrower: what you need to know

Buyback credit, age of the borrower: what you need to know

Credit consolidation (real estate and consumption) is a variant of conventional credit. If in theory the repayment term of a mortgage can go up to 35 years (see more), with the current socio-economic situation, it is rare that lenders accept a repurchase of credit over a period of more than 30 years. But in reality, everything depends on the age of the borrower. It is above all the maximum age to finish repaying the loan consolidation that determines the financing of the project. Thus, for a repurchase of mortgage credit with a sufficient guarantee (various insurance, mortgage, satisfactory state of health, comfortable incomes), the age limit of end of credit is at the moment 99 years. For a consolidation of consumer credit, the maximum age to end the repayment of its credit is 85 years on average. On the borrower’s insurance side, the maximum age to benefit from all the guarantees is often set at 65 years. Beyond that, it is very difficult to find insurance covering disability and disability, only death is assured. From the age of 75, even contracts that guarantee death become rare. But as in the redemption of credit, some insurance companies have adapted and offer formulas reserved for senior borrowers.