Exchanging a loan – Transfer your loan quickly and inexpensively

Crossing a loan can save you a lot of money.

If you have taken out a loan in the past, it is very likely that you are currently paying too much for your loan. The interest rates are actually falling rapidly. A few years ago, the lowest interest rate for a personal loan was more than 5%. At the moment the lowest interest rate is only 4.1%. That can therefore already be a considerable saving. A loan transfer is also simple and often free of charge. Borrowing money costs money, but it is becoming cheaper.

Exchanging a loan

Crossing a loan is easy. You can decide yourself for whom you will apply for your loan. Of course it is wise to choose the provider with the lowest interest rate. When transferring a personal loan, there is still one point for attention. This is that you have to pay close attention to whether a fine will be charged when the loan is repaid early.

Override credit

There are major differences with revolving credit . The interest rate is variable and many banks have abused this in the past. They have slowly but surely increased interest rates by 0.2 or 0.3 percent at a time. As a result, many consumers started at an interest rate of 6.9%, but now pay 10% or even more. It is therefore possible to generate a large amount of money through a loan transfer. With many consumers, too little attention is paid to the current interest rate and the benefit to be gained. The consumer usually behaves as a dormant consumer and they let the loan out of convenience just as it is.

Transfer personal loan

Crossing a personal loan can be a good option. Especially now that interest rates are low. The interest on a personal loan is currently 4.1%. So you can certainly benefit from this. The expectation that the interest rate will continue to fall much further is small. The advantage with the personal loan is of course that you also get a new fixed rate. Do you not know whether it is cheaper? Then have your personal loan transferred to a credit intermediary. They are the party where money borrowing is possible at 4.1%.

Cross a mini-loan

Reverse a mini-loan because you are almost at the end date for repayment? Then it is time to transfer your mini loan to a revolving credit or a personal loan. The disadvantage is that you have already made the high costs for the loan. You will not get anything from this. In addition, the disadvantage is that a mini loan often lends money without BKR testing within 10 minutes . If you want to close your mini-loan then you often run into the negative BKR registration. Keep in mind that as a result, you can probably only have a mini loan that you can borrow through private money.

Redeem interest rate credit

If you have an interest credit, you probably have it for several years. The big advantage of an interest credit is of course the low monthly installment. This also has a downside. You only pay interest and of course you also want to cancel your loan. To make this possible you will have to pay more per month. There may well be a big advantage in interest rates. There are many interest credits with very high interest rates. For a small extra you are likely to have a reduction in your interest credit.
An option here may be to partially close your loan. Below we would like to tell you more about this.

Exchanging loan without BKR assessment

If you have a loan where you have incurred a negative BKR registration, your loan will not be easy. In fact, it is almost impossible to transfer your loan for a credit with a nice low interest rate. Yet there are still some possibilities nowadays. Banks are obliged to comply with their duty of care. Whether you borrow money with BKR testing, or borrow money without making BKR assessment possible, does not matter. The bank where you currently have the loan therefore has this obligation. You can call on them to find out what the possibilities are to make your loan cheaper. Please note that extra money in hands is not possible.

Redeem part of the loan

If you currently have a credit that you are not satisfied with, because you can not get rid of it. For example with an interest credit, it may also be possible to transfer part of this loan. You could choose to partially have your interest credit or revolving credit partially settled by a personal loan. In this way you will at least be sure that you will actually reduce part of your loan. The other part of the loan that you already have running, simply continues to exist as it is now. A credit advisor can help you make the right choice. That does not have to cost extra. Advice about borrowing money is always free.

Guide to know how to request a mortgage loan

Learn the steps you must follow to apply for a mortgage loan.

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With the BBVA Fixed Mortgage you will pay the same for your house every month, without surprises Calculate your fee

Hiring a mortgage loan is a long process that requires effort and dedication. Taking time to collect information and carefully study the options and possibilities is essential to get the best financing. Therefore, this guide aims to clarify each step, so that you have a little easier to enjoy your new home as soon as possible.

Collect information and compare

If we have already decided to buy a home and we need a mortgage loan, the first thing we must do is to collect all the available information in advance so as not to take any false steps. It is important to know the situation of the mortgage market, so we must search, compare and study the offers of the more banks better.

As buyers we must think about which mortgage loan best suits our needs: if we will be able to face the periodic payments, the repayment term, see what our savings are and add margins for unforeseen expenses. That said, it is advisable to know our debt share and that this does not exceed 30-35% of the holder’s net income.

In this first step towards hiring our mortgage loan, the key is to compare. When consulting different offers of mortgage loans from different entities or from the same entity, we will be able to establish differences and better understand what they offer us.

During this information gathering process it is advisable to write down all the possible doubts and then pose them to the professionals. In the conditions and requirements of a mortgage loan we find terms that can be difficult to understand and that can even confuse us. Let’s see some of the most important ones.

Types of mortgage loans

A fixed type. For fixed-rate mortgage loans, the monthly payment to be paid and the interest rate applied will not vary during the life of the loan. Each month the same fee is paid, even if market interest rates go up or down.

A variable type. In the case of variable rate mortgage loans, the most common is that the interest rate is linked to a reference index (the most common is the Euribor). In this way, the monthly fee will vary according to the Euribor.

A mixed type. These mortgages apply a fixed rate during the first years of the loan and then proceed to apply a variable interest with reference to the Euribor.

In what you have to set to hire your mortgage loan

After this process of gathering information we can begin to deepen the cost of our mortgage loan. Here come into play three important terms: TIN, TAE and Euribor.

The TIN is the acronym for Nominal Interest Rate, it is the price charged by the entities for lending money. This interest is calculated by applying a percentage or type on the capital loaned to the client. This percentage is applied to the outstanding capital at any time. Does not include expenses and commissions.

The APR is the acronym of the Annual Equivalent Rate, the interest rate that indicates the effective cost of a loan during a given period. It is calculated according to a mathematical formula that takes into account the nominal interest rate of the operation, the frequency of payments (monthly, quarterly, etc.), bank commissions and some expenses generated by the operation. It allows comparing between different offers the effective cost of the same product.

The Euribor is an index that indicates the average interest rate at which the main European financial institutions lend money to each other in the short term, so it fluctuates constantly. This constant oscillation of the Euribor is what defines the variation of the quota, which is usually reviewed every six months or annually.

At BBVA we have mortgages that adapt to you. Discover them now by clicking here.

The associated commissions

Another very important aspect in this process of selection of the mortgage loan is that of the associated commissions. In addition to facing a monthly payment during a period that generally goes from 20 to 30 years, depending on the bank in which we contract the mortgage loan we will have to pay some commissions or others. Let’s see some of the most common:

Opening commission. It is calculated on the total of the mortgage loan. This commission is paid at the beginning of the mortgage loan as compensation to the bank for the procedures and formalities of loan formalization.

Account commission associated with the mortgage. Some banking entities require that we open an account that will be used to manage the payment of fees. This commission is not charged by all banks and if we are already customers of the bank that is going to grant us the mortgage loan, this commission does not usually exist.

Commission for partial or total amortization: occurs when the client prepays all or part of the capital pending amortization. It is the compensation to the bank for the administrative procedures that the entity has to perform, as well as for what it ceases to receive in the interest of the capital that remains to be returned.

Most common requirements to access a mortgage

The main requirements that are asked at the time of granting a mortgage loan have to do with the economic solvency of the client, although they are not the only ones.

– Have fixed income. Economic stability is key to any grant of a mortgage. Our bank will ask for payroll and our working life in order to better understand our income flow.

– Initially provide at least 20% of the appraisal price for the home. It is what is known as “entry” and is a requirement that banks ask their customers. Therefore, it is very interesting to know the approximate value of the asset, since it is usually a “cut data”. In accordance with Royal Decree 716/2009, on regulation of the mortgage market, a maximum limit of financing allowed for loans and credits is established, which normally entails that a financial institution does not grant mortgage loans above 80% of the appraisal value.

5 questions you have to ask yourself before applying for a mini loan

If you think about applying for a loan, there is nothing to be ashamed of.

ask for a minilening

Namely, almost everyone has a kind of debt. This could be a loan for a car, credit card, a mortgage or student finance. It happens to everyone.

So, if you consider a loan, the most important thing is that you make a decision with knowledge.

First of all, it is important that you apply for a loan for the right reason. Secondly, it is also important that you weigh all options against each other, and that you know exactly what you are looking for.

Before you apply for a loan, there are five questions that you have to ask yourself.

How much money should I actually borrow?

Before you make an application, ask yourself how much money you exactly need. If the purpose of the loan is to purchase a product, for example; it is possible to save half, and the rest to be supplemented with the loan, so your debt is actually halved.

In the event that time plays an important role in your consideration to apply for a loan, saving is not always possible.

In any case, budgeted first, and see where you can save some money here and there. Once you have established a budget, you can see how much you need as a supplement, and how much you can spend on paying off a loan.

Do I have enough income to repay the loan, including interest?

The very first thing you should look at when applying for a loan is that the minimum amount you will have to pay does not have to be paid every month. There is more to it, namely the interest to be paid. Depending on the loan, the interest will be raised daily, weekly or monthly.

Coming back to the budget that you have put together, what you have left monthly for a possible repayment, will have to be higher than the minimum monthly amount that you will have to pay, and also the interest over that month.

How long do I need to pay that loan?

The loan period differs per type of loan. It indeed depends on which loan you want to apply for exactly, and how much money you need. It can be weeks or months. Choosing the loan period is just as important as choosing the amount and the associated interest.

Something you will have to consider at all times is a loan where you can redeem early. , for example, gives customers the option to redeem at all times, without any additional payments. This gives the customer the option to make payments at their own pace, and to give flexibility to the customer.

Choose a loan that you can redeem without any extra costs.

How am I going to solve that with the other debts I already have?

If you already have other debts, be it a credit card or other debts, your debt is no longer a good idea. You only press yourself further into debt.

Before you apply for a short term loan, make sure you already have a plan to pay off your other debts. Do you allow your budget to make another repayment?

Did I find the right provider?

If you want a short-term loan, then you have little choice in the Netherlands. You can request an unauthorized debit from the local bank or you can apply for a short-term loan.

Beyond the costs and the total financial picture, we advise you to choose a provider where you feel that it is the right provider for you.

Find a provider that is especially reliable, and search for reviews on the internet.

Wik and weigh everything up against each other, and the choice you make with knowledge, will also be the best choice.

At , we are all doing a bit different. is internationally known as an innovative and leading provider of mobile financial services, and has been a pioneer in financial technology since 2005

When you apply for an online loan from , you can be confident that you have ended up in the right hands. We believe in clarity and transparency. No hidden costs.

When it comes to money, you have less of a concern with !

Looking for Loan of 2000 euros

Borrowing 2000 euros is a relatively small amount.

320x50 SD betrouwbaar

Still, the money can be needed very hard, and banks here are very difficult to do. Good news at 2000 Euro borrowing is that borrowing money without BKR testing and borrowing money with BKR testing is possible. However, you should take into account that borrowing money without BKR testing and registration is generally more expensive than borrowing 2000 Euro with BKR testing.

Borrow 2000 Euro without BKR assessment

Product Max. 1st loan Max. loan amount Max. Duration Deposit To request
 No BKR Assessment € 400, – € 400, – 45 days 24 hours  
 Ferratum Plus loan
No BKR Assessment
€ 400, – € 1.500, – 62 days 24 hours  
 No BKR Assessment € 400, – € 1.500, – 62 days 24 hours  

Let’s start with the variant that is being looked for a lot. Borrow 2000 Euro without BKR assessment. There are several reasons why you may be looking for a loan of 2000 Euro without BKR testing. You may have a negative BKR registration, or you may already have too many loans. Then it is important to find a provider that works without BKR testing and registration. You will then end up with providers of the so-called mini loans. A mini loan is a loan up to a maximum of € 1500, -. These loans have a short term to a maximum of 62 days. Because the providers of a mini-loan are not affiliated with the BKR, they can not perform BKR testing and registration. As a result, 2000 Euro borrowing without BKR testing is still possible with these providers.
In addition, you can of course borrow money from acquaintances or family. They too will not do BKR testing, of course. Borrowing money as temporary worker phase A also turns out to be tricky for the providers of mini-loans.

Is a BKR review no problem for you? Then you can borrow 1500 Euro with BKR assessment, this is many times cheaper than borrowing money without BKR testing. You can then also simply opt for a revolving credit. A revolving credit usually has low interest rates. In addition, in the case of a revolving credit, other than a minus loan, no costs may be charged for the mediation of this loan. You have to take into account that with a revolving credit a minimum limit of € 2.500, – or for some banks even € 5.000, – is required. This does not have to be a problem. You can leave everything you do not need in storage. You do not pay interest on this. In the case of a revolving credit, you only pay interest on the amount you have withdrawn.

Quickly borrow 2000 Euro

If you need the money in the very short term, of course you want to know where you can quickly borrow 2000 Euro. Generally, a mini loan or a revolving credit does not matter much. The money can in the most favorable case within 48 hours on your account. You have to take into account that you also cooperate quickly to provide the data. Of course, the disadvantage is that borrowing at 2000 euros requires two different providers of mini-lifts.

Mini loan – Borrow direct money with a mini loan

One of the fastest ways of borrowing money is to take out a mini loan.

Close miniature

A mini loan is a small loan up to € 800, -. You have to repay this € 800, – in full within a period of 30 or 45 days. Including any additional costs. Closing a mini-loan can be a solution if you need a relatively small amount at lightning speed. However, you should bear in mind that additional costs will be incurred with the mini-loan. These can be costs in the form of a guarantee, but additional costs as handling costs can also be charged to you. Despite the relatively high costs, a mini-loan remains very popular. And that has a number of different reasons. This, incidentally, despite all the opposition from the AFM (Financial Markets Authority), which concludes a mini-loan certainly does not consider it in the interests of the customer, but more in the interests of the provider of the mini-loans that earn a lot of money.

 

Close miniature? A loan without a hassle

Closing a mini loan is generally a loan without any hassle. There is no BKR review and the mini-loan can be provided very quickly. It is a money loan where it is even possible to have the money in your account within a few minutes. Especially if you are already an existing customer with a certain provider.
If you have already signed a mini loan, and you request a mini loan from this provider again, borrowing within 10 minutes is even feasible. In the latter case, if you are already a customer of one of the providers of the mini-loans, taking out a mini-loan is really a loan without any hassle. It is not necessary to provide only one additional document. No paperwork and still a loan.

 Close miniature and the BKR

Closing a mini loan is borrowing money without BKR testing and registration. In fact, you simply have nothing to do with the BKR when you take out a mini loan. The providers of mini-loans are not affiliated with the BKR. They can therefore not do any testing, nor can you register your loan. As a result, a negative BKR review will never get in the way of being able to take out a loan.
In order to be able to make BKR assessments and to register a loan with the BKR, the credit institution must be affiliated to the BKR. This is also one of the reasons why the mini-exercises are so rapidly gaining popularity. With a negative BKR registration it is extremely difficult to get a loan. The mini-exercises make this possible.

Also compare compare with a mini-loan

Just as with taking out a revolving credit or a personal loan , it is also important to compare a lot with a mini- loan . Comparing loans, and therefore also mini loans, can save you tens of up to a hundred euros or even more. Certainly on a relatively short duration as with a mini-loan, that is of course very quickly earned!

What is a fixed mortgage loan

A fixed-rate mortgage is a type of mortgage in which the same interest rate is applied during the life of the loan, with which the monthly payment to be paid will always be the same.

Qué es una hipoteca fija - BBVA

 

 

 

 

 

 

The bank offers the mortgage loan at a fixed interest rate, it does not depend on any reference index, so the monthly installments do not increase or decrease as a result of fluctuations in the financial markets.

Financial institutions usually offer a lower interest rate for mortgage loans when the client pays his salary, uses cards, hires some type of insurance, links a pension plan, etc. It is usual that if the client does not comply with the agreed conditions or ceases to have contracted any of the products linked to the conditions of the mortgage loan, the financial institution will not apply the discount on the interest rate in accordance with the provisions of the contract, with which in this case yes would raise the monthly fee to pay.

Before going deeper into the fixed mortgage, it is important to be clear about how mortgage loans work.

What is a mortgage?

The mortgage is a right that links the property of a good to guarantee the fulfillment of an obligation. When applying for a loan to a bank, the bank may request a mortgage. We speak then of mortgage loan, denominated colloquially like “mortgage”. The most common is to apply for a mortgage loan to finance the purchase of a house, linking as a guarantee the property itself.

The borrower (who receives the money) undertakes, by signing a contract, to return the borrowed amount plus the amount corresponding to interest, in monthly installments and for a specified period of time. In any mortgage loan there is the guarantee of the borrowers and the property guarantee, that is, if the debt payments are not paid, the credit institution can execute the home.

Types of mortgage loans

Depending on the interest rate applied to the mortgage, there are mainly three types of mortgage loans:

A fixed mortgage is the one to which the same interest rate applies throughout the life of the loan. This means that the monthly payment to be paid is always the same throughout the mortgage, even if the market interest rates go up or down.

By contrast, variable mortgages have an interest rate composed of a reference rate, which is usually the Euribor, plus a fixed spread. This means that the monthly payments to be paid rise or fall depending on how the benchmark index (Euribor) does it.

In mixed mortgages the operation of the fixed and variable mortgage is combined. The interest rate is fixed for a fixed term of the duration of the loan, while the rest of the term is variable.

At BBVA we have mortgages that adapt to you. Discover them now by clicking here.

Type of interest

The interest rate that is applied to a mortgage is usually expressed with the TIN and with the APR.

TIN (Nominal Interest Rate): it is a fixed percentage that is applied to the borrowed amount and that determines the fee to be paid to the financial entity.

APR (Annual Equivalent Rate or Effective Annual Rate): interest rate that indicates the cost or effective yield of a financial product. The APR is calculated according to a standardized mathematical formula that takes into account the nominal interest rate of the operation, the frequency of payments (monthly, quarterly, etc.), bank fees and some operating expenses. The APR is used to compare mortgage offers between different banks.

Mixed mortgage features

The monthly payment to be paid is always the same, providing peace of mind and security against possible rises of the Euribor or the corresponding reference index.

The interest rate with which a fixed mortgage is offered is usually higher than that of a variable mortgage.

The maximum term to which a fixed mortgage can be contracted is usually less than the term allowed by a variable mortgage.

As the repayment term is lower, in a fixed mortgage the monthly installments are usually higher than in a variable mortgage. However, depending on the fluctuations of the Euribor, the monthly installments of a variable mortgage may end up being higher than those established for a fixed mortgage if they are compared with those established at the initial time of contracting.

Loans: 10 Frequently asked questions about how it works

Here we make a list of 10 to respond to the most usual ones.

1. When applying for a loan, how long can I get my money?

our company offers quick loans, which is why the transfer of your money will be made within the business day following the electronic signature of your contract. The availability of money in your account will depend on how quickly your bank works.

2. What happens if my application is denied?

Your information is not shared and the denial does not involve any involvement. You can reapply for a loan after 90 days or sooner if your financial information improves.

3. Is it safe to enter my banking information on this website?

To protect your data, our company delegates to Place to Pay the capture of sensitive information. The payment platform complies with the standards required by the PCI DSS international security standard for credit card transactions. It also has an SSL security certificate issued by GeoTrust, a Verisign company, which guarantees secure communications by encrypting all data to and from the site; This way you can feel safe when entering your information.

4. Can I make the payment any day and at any time?

Yes, at our company with Place to Pay you can make payments on your credits online 7 days a week, 24 hours a day, just one click away.

5. What happens if I am late with payments?

The delay in payment generates penalties, default interest and reporting in the credit bureaus after the first 20 days of default. The advisable thing is that you make an intelligent use of your credits.

After the payment date chosen by you, and given the collection efforts that the company carries out, a collection fee is charged for the first 30 days, of 20% of the capital. If your default exceeds 60 days, an additional 10% of collection costs is charged.

In case of not making the payment no later than 20 calendar days after having been informed about the particular, the delay in your obligation will be reported to the credit risk centers, without prejudice to the other actions that we can advance for the collection of the obligations in favor of our company.

6. Can I extend the initial term of my credit?

Of course. You can extend your quick credit as long as the credit is not due or in default and as long as the term does not exceed 30 days (all credits offered by our company have a maximum term of 30 days).

Remember that the longer term costs are higher. Verify that you can pay the new balance on the new date.

7. What are the additional insurance coverages?

As an added value, our company has additional insurance coverage to protect you. When using the electronic platform, you are hired an additional coverage policy which is optional. If you sign electronically through the platform, you are contracting the coverages mentioned below:

  • ATM hold-up
  • Forced use of cards
  • Millionaire walk (ATM robbery)
  • Acetates or acrylics (ATM hold-up)
  • Forgery / Adulteration and / or cloning of cards (fraudulent expenses)
  • Lost / Stolen Cards (Fraudulent Expenses)
  • Fraudulent purchases online (Fraudulent Expenses)
  • Qualified theft of purchases
  • Accidental damage to purchases
  • Loss or theft of documents
  • Qualified theft of the wallet / bag
  • Loss or theft of keys (cars and / or home)
  • Identity theft

8. What are the collection expenses?

In addition to default interest, the debtor must pay collection expenses of between twenty percent (20%) up to a maximum of fifty percent (30%) of the amount of the total amounts owed plus taxes generated for this concept.

9. Do they use intermediaries or charge commissions in advance?

our company never shares customer information with unauthorized third parties, does not charge commissions or expenses in advance. Do not use intermediaries to fill out, study or expedite your application or disburse and process your credit.

Do not be fooled and immediately communicate any offer you receive in this regard to ayuda@our company.com.

10. Where can I ask for more information?

You can write or call the administrative line. Remember that calls are only answered during working hours and all the service is done through the our company platform.

Compare loans – Borrow direct money, honest about loans

Comparing loans , it seems so obvious, but not everyone does it apparently.

compare loans

Did you know that 80% of the Dutch have an overpriced loan? Where we scour the Internet to buy as cheap as possible, this is apparently different for loans. Why are we not strong in comparing loans and closing the most advantageous offer? What makes sure we are not always happy with the best proposal? Can borrowing money also be cheap money?

Compare loans

Personal loan Revolving credit Miniature
From 4.1% From 4.4% Maximum € 1500, –
Fixed interest variable interest No BKR review
from 21 to 69 years from 21 to 69 years from 21 to 70 years
Payout within 2 days Payout within 2 days Payout within 24 hours
Request a personal loan Request ongoing credit Request mini loan

Comparing the goal of lending seems easy. The point is that you are going to take out the cheapest loan. Yet there is more for you to get when comparing loans. It is important to realize that the advice for borrowing money is free. Taking out a personal loan or taking out an ongoing loan makes no difference. Advice for borrowing money is always free. This is laid down in law (WCK). So let others compare loans for you. Request different offers and see where you can borrow money cheaply.

Compare loans? Keep doing this!

Even if you have taken out the loan, then it is important to compare loans. Take a few minutes every year to check whether your loan is still an advantageous loan. Or are there other providers that are cheaper? Perhaps new banks have arrived that are cheaper. Investing one hour per year can generate hundreds of euros per year.

Comparing loans does not cost you anything

An important point that we would like to mention again separately is that the advice for borrowing money is always free. This is included in the Consumer Credit Act . Credit intermediaries are rewarded by the banks and may not charge you any costs. If costs are charged for the credit, you can report this to the Netherlands Authority for the Financial Markets, they will then deal with your complaint and take action on your complaints.

Comparing loans without BKR testing

Do you have a BKR registration and do you want to compare loans without BKR testing? Then you have a challenge. Borrowing money without BKR testing is almost impossible. The only form in which this is still possible is in the form of a mini-loan . Minors are the only parties that can not do any testing and registration with the BKR.

Loan for renovation – Borrow Direct Money

Of course you want to keep your beautiful home up-to-date to your taste and the latest living trends.

So it is not strange if you find it after a period of time for a new kitchen or bathroom. Unfortunately, renovations to your house cost a lot of money. Do you always wonder what people pay for this? In most cases this is not out of pocket, but a loan for renovation is taken out for this. Exactly how this works and whether you can finance your new kitchen or extension with it, you can read in this article.

There are different forms when it comes to borrowing money for a renovation. You can do this by making adjustments to your existing mortgage or by taking out a personal loan or home loan. Depending on your current situation and the amount of the loan amount, one of the following options may be the cheapest.

Renovation hypodoxy

If you go looking for money to renovate, you will soon come into contact with the word ‘renovation mortgage’. The funny thing about this is that this is actually not a form of mortgage but only a name that indicates why you would want more or another mortgage: for the renovation. So it is nothing else than borrowing money to finance your renovation. Here you have two forms:

Increase mortgages for renovation

The first thing you think about when you are looking for a loan for conversion to your home is to increase your existing mortgage. Increasing your mortgage is actually using the surplus value you have on your home. If you have built this up, you can use this amount for the renovation. However, what many people forget is that the monthly costs will rise and you will not have this money as a buffer if your home is flooded.

Extra mortgage for renovation

If you have not yet built up too little surplus value, an extra mortgage for refurbishment is an option. You hereby complete a new mortgage on the existing mortgage amount. The big disadvantage of this is that the loan amount for a renovation often does not outweigh the extra costs. If you take out a new mortgage, even if this is for a low amount, you will pay notary fees and any costs for an appraisal report. In the meantime, other conditions apply than when you closed the current mortgage, which means that the monthly costs for the renovation can become disproportionate to the mortgage payments of the first mortgage.

Residential loan or personal loan for renovation

Many mortgage lenders can often advise not to take out a personal loan or a home loan. If the amount for the renovation is not too high, the personal loan is often the cheapest solution. Taking out a personal loan does not entail hardly any costs. At the moment the level of mortgage interest is lower than the loan rate, but with the extra costs for a mortgage you are in many cases still cheaper with a personal loan. The added value on your property you still get but the monthly costs of your mortgage remain the same. Is the amount higher what you need for the renovation or sustainability? Then a residential loan is a good solution. This loan is focused on homeowners by a longer term so you can borrow more money for a renovation without having a major impact on your monthly expenses.

Do you already see your new converted home in front of you? With our independent comparator we help you to put all lenders for residential loans or personal loans in a row. You can quickly see which conditions apply to you and what fits best with your situation to take over your home as quickly as possible.

Loans between Individuals

How They Work and How to Stipulate them, which are the best services.

To conclude

What are the loans between individual? Furthermore, is they subject to legislative regulation or is it arbitrarily chosen of the person? In fact, in the Italian scenario this topic still has many dark points. As well as ignored. Nor is it given a weight and importance as a real traditional financing. Yet they exist. There are. And they are subject to precise regulations.

Not just a solution in case of complete denial of supply by the bank , or if you find yourself in front of an excessive interest rate .. They are a quick, serious and sure answer. So, to answer if the loans between private individuals are safe, it can be positively affirmed. But only and exclusively in the case that correspond to precise rules. For example: the interest rate must be lower than the usury threshold . Furthermore, whoever lends the sum must declare it to the tax authorities together with the interest rate applied to this sum loaned.

In Italy the Loan between Individuals is a subject almost new. Yet in the United States it is a common practice. So, if you take the path of the loan between Private (whether you are the lender or who gets the sum) it is necessary to pursue the Italian regulation on this area. So that legal duties are exempt but also to avoid probable problems. When you make a Loan between Individuals there are some particularities to pay attention to.

Loans between Individual

Meanwhile, the first information to know is that the Loan between Individuals is not subject to the contract in ” Private Writing “. Not even to the deposit of such agreement with a notary. It is not obligatory, but for your serenity, both as a creditor and as a debtor, it is advisable to carry it out. It is not a question of distrust but of intelligence and healthy behavior.

1- As already mentioned, lending between two private persons is legally binding only if regulated by the legislature.

2-The law , in this case requires that the person making the loan announce the tax to this procedure as well as the rate used. Such as? Through the traditional “Income Statement”. But who receives the sum has the burden of repayment. Pena, the seizure of assets.

3- The sum you will give can not possibly have a usury rate. To ascertain this parameter, at the time of signing the agreement it is sufficient to check the circular issued by the Bank of Italy. You could even calculate it on the internet, but it is wise to see the official document.

4-An extremely quiet road that you can follow, to get a sum, is via online: The ” Social Leading “. These are platforms, online, where you can find not only lenders, but also other people looking for credit. These platforms are subject to continuous and targeted monitoring. Here you can exchange without going through the bank. In total peace of mind as well as in full compliance with the law. 

5-You can also request the sum that you can possibly also serve to those closest to you. As relatives and friends. But the rule of traceability remains. Return the money with a non-transferable check or the traditional bank transfer.

6- To cancel situations of non-return of the sum, as well as cover your shoulders with guarantees in case of this eventuality … it is advisable to write a written agreement. If authenticated by a notary even better. Or, another way, is to ask for the form in Loan bills between individuals.

In fact, the biggest risk is paid by the creditor. Which is exposed to the possibility of not reviewing the sum bestowed. Others yes, those who need a sum of money can find themselves in front of fraudulent creditors. So, the best suggestion is to entrust your request ONLY to people you know. Or, resort to the Social Leading solution. In this case, accept the agreement only and exclusively if the creditor remains within the social network.

 

To conclude

The Loan between Individuals is also advantageous because its rate of interest is very low, compared to the bank. But it is a safe road only if we pay attention to peculiarities like those described above.