Monthly Archives: July 2019

The characteristics of fast loans

An unforeseen payment, a car that breaks down, a problem at home … Many are the circumstances of life in which we need cash as soon as possible. In addition to advances in work or recourse to friends and family, fast loans become a solution for many of these vicissitudes.

Fast loans allow you to get small amounts of money in just 24-48 hours and with repayment terms tailored to your needs.

The characteristics of fast loans

The characteristics of fast loans

This type of consumer credit is granted for moderate amounts, since they are designed for situations of great need for liquidity. It is something that also happens with mini-credits.2. The interests. They are usually high because they do not imply the payment of opening or processing commissions and the borrowing entity establishes interests around 20% APR to obtain its benefit.

The return terms. They are usually very affordable and vary according to customer needs. The entities do not have problems in extending the return terms everything you need, on the contrary. From Iago we recommend that you try to amortize it when not to pay a huge amount of interest.

The requirements to request it

They are not too many. Normally, a DNI number or residence card and the account number where you want to receive the money is enough . You can get it even while on delinquent lists like ASNEF.

Availability. As the name implies, the defining characteristic of fast loans is the speed with which you will have your money. The most common is that in just 24-48 hours you can have it in your account and it will never take more than 5 days to enter it.

The type of customer

Anyone can apply for a quick loan. It is said that entities grant it more easily to regular customers since they know their trajectory, profile and volume of income to face the loan. However, today the offer of entities that grant them is so wide that the requirements in this regard have been relaxed.

If you are going to apply for a quick loan we recommend that you value all the options you have, in Iago we do it for you if you wish, and that you read the loan subscription contract well. We do not want you to take last minute surprises when you have to face the payments.

Mortgage loan amortization: What is better to reduce term or installment?

Are you one of the many people who have a mortgage in Spain? Do you have some money saved and want to pay off your mortgage to reduce the debts you have, but don’t know what is better if you reduce your monthly payment or term ? In this post we will explain the two options with their pros and cons.

First of all, you have to keep in mind that when you sign a mortgage you reach an agreement with the bank to return the money that you have been lent to pay your house in monthly payments (called “mortgage payment”) for a certain number of years ( called “repayment term”). Mortgage installments have two parts:

The capital to be repaid and the interest on the loan

Once in context, it must be taken into account that there is a mortgage amortization figure in mortgages . Know that means? The mortgage repayment consists of using savings that you have to reduce your mortgage debt with the bank . There are two main ways to perform depreciation :

Reduce fee

It consists in lowering the amount of the monthly fee by paying a somewhat lower amount. The advantage of this type of reduction is that you earn in liquid money, because having to pay less you have more money month by month. The disadvantage is that the repayment time is maintained and with it the interest.

Reduce term

It consists in reducing the repayment term , that is, reducing the time in which you have to repay the borrowed amount. The main advantages of this are: the reduction of time in paying the mortgage and interest, because the less time, less interest. The disadvantage is that the fee to be paid will remain the same.

Once we know all the terminology, the question is what is better at the time of amortization: reduce quota or term? Before shedding light on this issue you have to take into account if you have a commission for repayment or partial cancellation of your mortgage and know what the withdrawal compensation the bank applies. Since in this way, it may not be profitable to pay off and it is better to invest our savings in another way.

Taking into account the premise of the commission for repayment and assuming that we do not have that commission or is low, among the options to reduce quota or term and analyzing its pros and cons, the best option when it comes to amortizing mortgage is to reduce term instead of quota since you minimize time and reduce interest .

However, although a priori this is the main option, it must be taken into account that when paying off mortgages, more circumstances must be taken into account, such as: available monthly income , saving capacity , employment status , risk that you want to acquire and interest rates .

Loan insurance: important savings for the thirty-something!

The annual cancellation of the borrower insurance is a possibility open to consumers for over a year now, thanks to the amendment Vourguin. However, many borrowers still seem to ignore this right of termination to change their loan insurance. This can allow substantial savings, even with equivalent guarantees with the current contract. The thirties are particularly concerned by this potential economy.

Thirties, a clientele that insurers appreciate

Thirties, a clientele that insurers appreciate

Borrowers in their thirties are highly valued profiles not only by banks but also by insurance companies. Indeed, at this average age, the risk of death is low (0.06% in women and 0.14% in men).

Note that the average age of first-time buyers is 31 years. Yet, they often do not take the time to go looking for a real estate loan insurance delegation when they prepare their real estate purchase project. In fact, generally in a hurry to “win” their financing, they subscribe directly to the group insurance contract presented by the lending bank, which is a contract previously subscribed by the latter to a partner insurer to cover its borrowing clients with a standardized formula, unlike the delegation of insurance that allows the subscription of custom contracts designed according to the profile and characteristics of the borrower.

With a group insurance contract, the 30-year-olds, most often healthy young people, have to pay as much as older people, who are much more likely to suffer from health problems and risk of death.

Assignment of insurance to reduce up to 75% the amount of the contribution

Assignment of insurance to reduce up to 75% the amount of the contribution

Unlike the group insurance contract proposed by the lending institution, in the case of individual loan insurance, the guarantees are set up according to the needs and characteristics of the borrower’s profile (age, state of health, professional activity, sports and leisure activities.). The rate is thus fixed according to these determining criteria, and it is lower for any person presenting no particular risks (health problem, profession at risk, extreme sport practice.).

According to some real estate mortgage brokerage data, for a housing loan of 150,000 euros with a repayment term of 20 years, a couple of thirties pay an average of 50 euros per month of insurance contributions with a of 0, 27%.

Two years after signing the borrower insurance contract, they have the opportunity to use the right offered by the bank, which is to change the offer annually at the time of the anniversary date of the credit signature. This is how they can access a rate of 0.07%, corresponding to a monthly insurance of 38 euros. Over the remaining term of the refund, the gain would then exceed 8,000 €.

In order to optimize the economy while being covered by a contract meeting the requirements of the bank, it is recommended to take the time to rigorously compare the different offers of the market.

Consumer Credit

A consumer credit also called consumer loans or personal credit. Based on performance loan, this is often borrowed in Germany as a loan. Easy: Personal Finance – Youtube, you can watch a video explaining the main features of this loan.

Consumer credit: Revenues

As the name implies, the client’s loan is usually used for a short time and very expensive license. Therefore, blog post breaks are supported by credit. It’s the same thing as buying a car or buying a motorcycle. Additionally, many people choose to compensate for the expensive credit on the existing account. Private loan is good when low interest rates occur. Low interest rates did not exist; Or interest on fixed convertible interest rates.

The client’s loan is a loan that can not be met easily by one level of negativity. The licensor has a long-term commitment to allow the loaner to complete only a fully paid up payment on the ordinary course of business.

Any person taking credit loan should know that it is to be used for three or five years. Therefore, such a loan can not receive an unlimited period, so the conclusion should be carefully considered.

How consumers’ covenants end

How consumers

User credit is a simple and microcredit. Often the last shipwreck served to satisfy selfish desires. Most banks are ready for this loan, so the loan is usually paid up to $ 5,000 or directly to the bank switch.

Giving credit is easy because the client provides a valid contract and salary statement over the past six months. Individuals working in self-employment must be eligible for payment in the last six months. A standard payment is given or credited immediately. The height is usually three months long, which is usually briefly interrupted. Up to EUR 5,000, – The highest rate of debt payment to customers.

One Consumer Credit Who Man Has Only Twelve Months Since Man Is Unprofitable This has a multi-year replacement period: The fact that more and more people now borrow money on the street are basically employed in a temporary job opportunity. Low interest rates and good working conditions in the UK, rather than banks that are very generous, this loan application is usually well-coordinated so that someone can get a temporary contract after another job.

Credits meet seafarer transportation information alone

A negative input here is outside the bill lodged. However, banks responded in this way. Today, many banks have branches outside the Internet. German rules do not apply here. The client can request a credit online and can get online via the Internet. Online consumer credit is slightly shorter than consumer credit. On the other hand, the same is true in the same way. This is a time to think about loaning Ebin Bank and thinking of borrowing from Oslo Bank.

Loan Insurance – Comparative Guarantees

The Mutual of Gumtols Housing

The Mutual of Gumtols Housing

Gumtols Mutual Housing Company was founded in 1981. Governed by the Mutuality Code, the insurance company Gumtols specializes in the protection of borrowers in the housing sector.

But also against the risks of death, total and irreversible loss of autonomy, incapacity for work, disability and loss of employment.

Gumtols individual loan insurance

As an alternative to the group insurance contract offered by banking institutions when applying for a mortgage loan, Gumtols offers an individual loan insurance policy that accompanies each insured person with a personalized cover.

Find out the cheapest loan insurance by using the mortgage insurance simulator online

Gumtols offers borrower benefits packages named Sutlas and Sumprit, social loan hedges, Pass Foncier hedges and a new guarantee for seniors (from 66 to 75 years old).

Gumtols, label of excellence 2013

In October 2012, for the second consecutive year, the Sutlas borrower’s pension solution was awarded the “Dossiers de l’épargne” seal of excellence. This hedging formula was launched in January 2011 and today offers a new guarantee dedicated to the creation of a company.

Cogilaw Company: insurance delegation

Cogilaw Company: insurance delegation

Since September 1, 2010, you are free to take out loan insurance other than that offered by the lending institution. Banks are required to accept a delegation of insurance (outsourced contract) when the guarantees are at least equivalent to those of the group contract it offers to the borrower. This device is advantageous for borrowers because it offers them the opportunity to compete with insurers to choose the cheapest contract and best suited to their individual situation.

Benefit from an individual insurance negotiated by the broker!

the expert broker in loan insurance negotiation is able to obtain for you a tailor-made cover at a very attractive price, which it would be difficult to negotiate by demarcating alone (e). With more than ten years of experience in the negotiation of financial offers and strong privileged partnerships with the largest insurance companies, the specialists of the brokerage can allow you to benefit from the cheapest loan insurance on the market that will best meet your individual borrower needs!