Instant credit in 24 hours.

Regardless of whether tempting business is possible or the checking account is nearing the limit of the overdraft facility: Sometimes with a loan it is not just the approval itself or the loan amount that is important, it also depends on the fastest possible payment.

For many banks, this can take a lot of time, because after an appointment with the bank advisor, he often has to calculate an offer for days. If the prospective loan would also like to compare at different banks, the loan becomes an almost endless story. Banks on the Internet show that there is another way.

Online banks with instant approval

Online banks with instant approval

Most online banks promise a loan for an instant loan in 24 hours. A relatively clear application form must be filled in online so that it can be done so quickly. The prospect only provides the most important information, such as monthly income or current living conditions. On the basis of this information, the conditions for the immediate loan are then determined and it is checked whether a commitment for such a loan can be made.

Because such an inquiry is filled out very quickly, you should apply for an instant loan from several banks in 24 hours. This is because the assessment of the risk potential varies greatly from bank to bank. This can mean that the offers for an instant loan in 24 hours are very different. About 6 – 8% should be possible as an annual percentage rate. In the case of very cheap loan offers, however, it should be checked whether a fee is calculated in advance.

Should practices occur occasionally, but are not reputable. If money is requested before the loan has been paid out, it is very questionable whether the debtor will actually receive the amount in the end. It is also suspicious if the requirements for the loan are very low. An online bank will also demand a permanent employment relationship and will not recognize unemployment benefits as such.

Usually, students or retirees also have less good cards when it comes to getting instant credit in 24 hours. If you have chosen a credible company, you can go into the offer. As a next step, documents such as bank statements or proof of earnings must be submitted in writing to prove the information provided. The loan amount is usually paid out after a few days.

Cream banks particularly quickly

Swiss banks particularly quickly

Cream banks are often a bit faster. Because other than a Cream bank, they do without a Credit Bureau examination. As a result, Cream banks not only provide customers with loans that would be rejected by the house bank. Credit Bureau information often takes a lot of time.

The customer of a Cream bank doesn’t have to wait for that, of course. However, this particularly high speed is also bought with somewhat less favorable conditions: Because monthly income is the only guarantee for Cream banks that the money will really be returned, income must be above the garnishment limit.

A permanent employment relationship outside of the trial period is also a basic requirement, as is the case with Cream banks. But even if these conditions are met, a loan from a Cream bank is comparatively expensive: around 10 – 12% must be factored in for the annual percentage rate. In addition, the loan amount is set at 3500 USD and the term is set at 42 monthly installments. Only a few banks in Switzerland offer instant credit in 24 hours that deviate from these standards.

To buy a flat on credit you will need a lot of cash

Against this background, the Polish requirement of 20%, of which half can be replaced by insurance, does not seem so restrictive. However, this does not change the fact that for many people it is too much.

As a rule, the own contribution is 60,000. USD when buying a flat worth 300 thousand USD. Added to this are transaction costs, equipment expenses, and renovation and finishing work, and the amount of cash you need can easily get close to a substantial amount of 100,000. USD.

To buy a flat on credit you will need a lot of cash

To buy a flat on credit you will need a lot of cash

Of course, not all of this amount needs to be spent immediately (e.g. equipment), some can be negotiated (e.g. notary fee or commission), and above all, some banks will retain the possibility of granting mortgage loans to people with 10% of interest even in 2017. own contribution.

The missing contribution needs to be replaced by insurance, which means an additional cost, but for many borrowers, this will be the only solution that will allow them to live in their own “four corners”.

Without a housing contribution, the apartments would be more expensive even by 20-40%

Without a housing contribution, the apartments would be more expensive even by 20-40%

This is also the biggest minus the introduction of requirements for own contribution – especially for young people it hinders the purchase of their own “M” and condemns to rent and deposit the amount needed to buy. The problem is, even more, pressing in the face of the fact that it will become increasingly difficult to get budget subsidies when buying an apartment (from the “Apartment for young people” program).

For the sake of order, it should also be added that the growing requirements for own contribution also have their advantages – for example, reduced risk and stabilization of the real estate market. The most important advantage, however, seems to be the fact that if banks did not require their own contribution, most likely housing prices in Poland would rise significantly. This is a particularly lively concern surrounded by the low cost of credit on the Vistula River.

Research from the International Monetary Fund from 2011 shows that the increase in the required own contribution by 10 points. percent. limited the rise in property prices by 10 points percent.

It is true that the Korean market was analyzed, but if these results were directly translated into native conditions, one could risk the statement that without the requirements set by banks, housing in Poland could be as much as 20-40% more expensive than it is now (a few years ago not only 100% debt, but even over 120% of the property value).

There may be a paradox here, in which high requirements for own contribution make it difficult for young people to buy their own “M”, but the lack of such requirements would have a similar effect because the flats would simply be too expensive for these young people.

20% own contribution is not much?

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It is also worth paying attention to the data collected by Good Finance, which shows that the requirements imposed on banks by the Polish Financial Supervision Authority are not excessively restrictive compared to those in other parts of the world. Data collected by Good Finance from 36 countries show that in most of the banks allow debt to persons who have at least 20% of their own contribution (LtV at the level of max. 80%). This is the case in the 28 countries surveyed, which is roughly three out of four considered.

On the other hand, you can also find countries where the requirements for own contribution are much more restrictive than on the Vistula. At least 30% Own contribution is required by Austrian, Spanish or Slovenian banks. It is even more difficult to get into debt in the United Arab Emirates or Hungary.

In the said Arab country, the requirements for own contribution vary depending on the buyer’s country of origin, type of property and its value, but they can be as high as 50% of the price of the property (development premises under construction).

Hungarians who would like to borrow in a foreign currency will also face high requirements. If a resident of Budapest tries to borrow in Swiss franc or yen he must have as much as 65% of the price of the apartment in cash.

How free credit scores really work?

 

It’s easy to get a free credit report – federal law says we all see credit reports once a year at no cost (here’s how to see your reports). However, it is much harder to get credit card bonuses.

Credit scores are numbers that lenders use to evaluate you as a borrower. These numbers are generated by computers that go through your credit report, and they often differentiate between approval and rejection.

So do you have to pay to find out what your result is?

You will quickly find that companies that advertise free results will intend to charge you sooner or later.

But there are several ways to get really free results (though sometimes you get what you pay for). Let’s dig into our options below.

Types of credit scores

Types of credit scores

You may be surprised to learn that you have numerous vouchers – not just one. For starters, each credit bureau generates a credit score, and each scoring model creates its own score (and has many points). Before you take it too seriously, find out what the result is.

The most important result now is the score – these are the ones commonly used for the most important loans (such as mortgages, car loans and credit cards). Other results may become increasingly popular, but results are the most valuable results.

Each result can help you understand whether you have “good” or “bad” credit – if your score is high, then it goes well – and what factors may hurt your score. However, the specific number you get may not be helpful if you are not looking at the true result.

Free credit ratings from lenders

Free credit ratings from lenders

Next time, borrow, ask for a free one.

Each time you apply for a loan, your lender most likely receives a score as part of the lending process. Ask your lender to tell you what your result is – they may not know you are curious, and they are generally happy to share that information with you.

In addition to traditional lenders, peer loans and other online lending often provide a free credit score (or some indication of where your score is) if you sign up for your services.

If lenders, based on your credit score, decide not to approve your loan (or choose to offer less favorable terms), they must provide the credit score they used.

It’s easy to get a free credit score when you apply for a loan, but you may want to get a glass more often. Some banks provide free credit scores with monthly updates if you use your credit card. For example, users can see a chart showing how their score has changed over time. Your credit card company regularly checks your credit anyway (to see if they fall during difficult times or if they need to increase their credit limit), so it’s easy to provide this service.

Promotional free credit scores

Promotional free credit scores

The internet is a full site that promises free vouchers.

You usually sign up for a trial offer, see your results, and then have to pay a subscription (after a month or more). However, you can unsubscribe and skip payments.

While this method may occasionally give you a free credit score, you have to jump through a lot of hoops to do all the trial offers (and you must remember to cancel your subscription to avoid payment). In addition, you submit sensitive personal information to various websites so that your risk of identity theft is increased. Finally, your name and contact information end up in many marketing databases, and you have to pay a price (in the form of a marketing attack) for the coming years.

New guidelines for sms loans in Google ads

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Google’s rules for advertising sms loans will change on July 13, 2016. No, this does not mean that Google will filter sms / fast loans from search results such as Expressen trying to make us believe, at least when you read Express’s headline “Fast loans are stopped “. The evening paper has taken its information from a second-hand source, Breakit, where you get a more accurate and informative headline “Google stops ads from sms loan companies”. Because that’s exactly what Google’s new guidelines mean, that they won’t allow ads from high-end companies under certain conditions.

Google has its own advertising system called Adwords that companies, individuals and organizations can buy into when they want to advertise a product. These ads appear, among other things, when using their search engine. The ads usually show up above and below the search results and show relevant advertisers when someone uses keywords associated with the advertiser’s products.

What do we think about this?

What do we think about this?

Now, as of July 13, Google will not allow advertising from credit companies that offer sms loans that have a payback period of 60 days or less. According to Google’s first-hand source (yes, we always look at the first-hand source if possible) it is due to the following: “This change is designed to protect our users from deceptive or harmful financial products” which in Swedish means that Google has made this change to protect its users against misleading and harmful financial products. Also, in the US, credit companies that offer fast loans with an effective interest rate above 36% will not be able to advertise in Adwords.

So what do we think at Good Finance about the new requirements for the Swedish credit companies, that the shortest repayment period must be at least 61 days in order to be visible with Adwords? It’s really nothing we care about, why should we have it? After all, it is Google who decides which ads they consider to be okay and which ones they consider not okay.

If they do not want to receive advertisements from fast-loan companies that have a shorter repayment period than 61 days then they have every right to do so.

There are some ad networks that think it’s okay to receive ads that have so-called adult toys and adult movies, while other networks don’t think it’s okay. It is not something we cannot or do not want to put in. It is something that the advertising company itself must decide, even when it comes to sms loans.

How will this affect the industry?

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Here, we should speculate a bit on how we think Google’s new guidelines for its advertisers will affect the sms industry.

First, Google’s advertising rules will not affect search results. Credit companies that already appear on Google’s search engine will continue to do so, but those previously only seen in the AdWords ads above or below the results will no longer be visible if they do not meet Google’s new guidelines.

Secondly, those credit companies that offer sms loans with a maturity of 60 days or less (and have not advertised outside of Adwords) will have problems if they are far down in the search results.

They will no longer be visible and will have significantly fewer customers

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But of course, this will not be accepted. They will probably make any or all of the following changes:

  1. They start collaborating with other advertising networks that make them appear on various websites on the web.
  2. They can start advertising on radio and TV with it being quite expensive. They can also contact large, well-visited and relevant websites and ask if they (without intermediaries) can place their ads on these websites and the like.
  3. They can put more energy into making a good, informative and user-friendly website that is appreciated by visitors and Google.
  4. They can arrange to ship maturities of 60 days or less and continue to advertise with Google as usual. Unfortunately, there are many customers who think that sms loans with over two months’ maturity are too expensive. At best, it might mean that these credit companies lower their lending rates for sms loans, let’s hope so, even if it is extremely doubtful.

Why choose the Government Agency mortgage loan surrogate, conditions and application

Mortgage subrogation: what it is and why choose it

Mortgage subrogation: what it is and why choose it

What is the Government Agency mortgage substitute? The substitute is the driving force of the mortgage market. The success collected by the procedure lies in its saving capacity. In fact, it allows the transfer of the loan to a new credit institution, with a related rate and duration modification, and therefore a reduction in the monthly installment. All at no cost to the borrower.

Most banking institutions have at least one option dedicated to mortgage portability. Nor is Social Institute Public Employees Management an exception, which takes care of the disbursement of loans for the purchase of the main home, the so-called former Government Agency Social Institute mortgage loans.

These are financial products for public employees and pensioners who have been registered for at least one year in the Unitary Management of credit and social benefits (in addition to the registration, the related contribution is also required).

Other requirement to be respected: none of the applicant’s family members can be the owner of another home located on Italian territory.

To this general rule there are exceptions, covered by Regulation Government Agency. Scenarios affecting particular cases such as, for example, ownership shares or the ownership of a house assigned to the ex-spouse by the separation court order.

Loan amounts and conditions

Loan amounts and conditions

The sum provided can reach a maximum of 300 thousand USD, to be returned with repayment plans that start from 10 but can extend up to 30 years. however, it is necessary to specify that the amount that can be financed varies according to the purpose of the loan.

In case of purchase of the first house, up to $ 300 thousand can be obtained, while the maximum amount is reduced for renovation works. In this case, the limit is set at 150 thousand USD. Those who apply for a loan to purchase or constrict a garage get a maximum of 75 thousand USD.

As regards the request for access to credit, this must be submitted via the Web, using the online services of the Social Institute portal (Social Institute.it). All correct and reflecting applications will be accepted, provided that the plafond of the competent Regional Management is adequate.

If the requests exceed the appropriations, it is the Provincial and Territorial Office to draw up a ranking that determines access to credit. The criteria adopted for the allocation of places are attributable to two elements: the composition of the family unit and the relative income.

The badgers

On the other hand, if we consider the Government Agency mortgage subrogation rates, the user can choose between fixed and variable rates. In the first case, a Tan defined with the loan to value method is applied, while in the second the financed subject will pay a rate determined by the 6-month Euribor, increased by 200 basis points.

Below is the table containing the Tan values ​​applied to fixed rate mortgages.

Question Government Agency subrogates mortgage

Question Government Agency subrogates mortgage

Let’s move on to the Government Agency mortgage subrogation opportunity. Those registered in the Unitary Management who reflect the requirements already stated and have previously taken out a first home loan, can benefit from the subrogation. The residual debt thus passes to Social Institute and is therefore subject to the conditions laid down by the former Government Agency Social Institute mortgages.

Government Agency mortgage subrogation requests are assessed together with mortgage applications and contribute to the definition of the access rankings for financing. As mentioned, the subrogation does not imply any cost for the borrower.

As for the transmission of the request, this must be done electronically. Access to the service is subject to authentication with Pin Social Institute. those who do not have the code can request it at any Social Institute office, or online using the guided procedure.

As is the case for real Social Institute mortgage loans, applications must be sent within specific time frames. This is because the resources allocated for the granting of loans are divided by Social Institute for four months.

The Government Agency mortgage subrogation request must therefore be sent:

  • from 1 to January 10 (first quarter)
  • from 1st to 10th May (second quarter)
  • from 1st to 10th September (third quarter)

A detailed documentation must be attached to the subrogation application, including the loan deed of the loan with the bank. In this regard, we remind you that the list of all the documents to be presented when applying for a mortgage (including the case of the subrogation) is present on the official Social Institute website.

How To Calculate Small Social Institute Loan, Values ​​To Consider

How to calculate the rate of the small loan

How to calculate the rate of the small loan

The small loan is in subsidized financing granted by Social Institute in favor of public employees and pensioners. It is one of the products that make up the Social Institute loan offer ex Government Agency, but let’s see in detail what the conditions are small Social Institute Taeg loan.

The first thing to clarify when it comes to the small Social Institute Taeg loan is that this loan is characterized by a subsidized interest rate. This is because unlike what happens with most of the products on the market, the concession takes place by Social Institute.

The social security institution is responsible for disbursing the capital through a specific credit fund, the Unitary Management of credit and social benefits. It is a fund that is fed by the deductions made on the paycheck or on the pension check of the members. Only members of the fund have access to credit.

Rates and calculation of the loan installment

Rates and calculation of the loan installment

At this point we move on to the question of interest rates. The small Social Institute loan provides a fixed Tan of 4.25%, regardless of the amount financed and the duration of the amortization.

As regards the calculation of the Taeg, however, it is necessary to take into consideration the other items of expenditure. We are talking about administration costs, which in the case of the small Social Institute ex ex Government Agency loan are calculated at a rate of 0.5%. Rate applied on the gross amount of the loan.

In order to calculate the small Social Institute Taeg loan rate, the premium for the Social Institute Risk Fund must also be taken into account. In this case, the rate applied varies according to the duration of the loan and the age of the applicant. to know all the rates applied for the definition of the Social Institute Risk Fund premium, it is possible to consult the relevant table at the end of the Social Institute Loan Regulation (available on the Social Institute website).

Public employees or pensioners who wish to calculate the conditions of the Social Institute loans accessible to them in detail can use the simulator on the Social Institute website. The service details all the conditions of the small loan or multi-year loan you wish to apply for, including the Taeg.

For more information, please follow our portal dedicated to Social Institute loans again.