immoprogram.com http://www.immoprogram.com My WordPress Blog Thu, 28 Feb 2019 08:19:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Private consolidated loan agreement – Free model with a lawyer review http://www.immoprogram.com/2019/02/28/private-consolidated-loan-agreement-free-model-with-a-lawyer-review/ http://www.immoprogram.com/2019/02/28/private-consolidated-loan-agreement-free-model-with-a-lawyer-review/#respond Thu, 28 Feb 2019 08:19:35 +0000 http://www.immoprogram.com/2019/02/28/private-consolidated-loan-agreement-free-model-with-a-lawyer-review/  

When making a loan, it does not necessarily have to take the form of a monetary liability granted by a non-bank institution. The law also allows a loan for other entities – for example, between private individuals. Even if the parties trust each other, it is worth to sign a contract. It is worth to have this in mind especially when borrowing, for example, a high value cash amount. The loan agreement clearly defines the rights and obligations of both parties. What should I remember and how to fill in a loan agreement correctly?

A private loan contract is an extensive document that requires meticulous and careful preparation. It is also worth to get to know the definition and its role in order to be aware of everything that is connected with signing – even if it is concluded between befriended, well-known parties. First, let’s define the type of loan agreement – it is called consensual agreement, the feature of which is the requirement for a consistent statement of both parties.

Quick answer to short questions

Does the loan agreement have to be concluded only in writing? Contrary to appearances – no. However, the condition must be a value that does not exceed the ceiling of PLN 500. For liabilities incurred for larger amounts, it is recommended that the fact that they are collected by a written contract is confirmed. However, there are documented cases when the court proved the fault of the debtor who failed to repay the private loan. In such situations, the most common proof is a transfer to a bank account, and the title of a transfer, eg a loan.

What about the currency? If the object of the loan is a foreign currency liability, the person collecting the loan may settle it in the Polish currency, unless otherwise stated in the provisions of the contract. The monetary amount should be in PLN exactly the same as its conversion rate on the day the loan is repaid. This is determined by the exchange rate table of the National Bank of Poland.

 

What should a loan agreement contain?

Each loan agreement is based on the following diagram, which contains seven basic elements.

1. Date, place of conclusion of the loan agreement

2. Indication of the subject of the contract – in this case, of course, it is a cash loan, but it should be clearly marked by adding the currency and amount. The law allows for different ways of borrowing and financial institutions have no monopoly in this matter.

3. Indication of the amount of money borrowed and the repayment period – it is necessary to state how much exactly we borrow and to what day the private loan can be returned exclusively.

4. Declaration on the Borrower’s property status – this element serves as security for the lender when the client is unable to return the amount borrowed.

5. Consequences of untimely repayment – the lender must also inform the other party about the consequences of the lack of timely repayment of the liability. If we conclude a contract with a foreign but private person, the activities here may be similar to loan companies. These are, in turn, penalty interest accrued from the first day of non-repayment, sending reminders, and then bailiff and court action, ending in effect entering the debtor’s data into the relevant KRD type registers.

6. Signatures of the parties – two legible signatures of the parties to the loan agreement must be made on the contract, which will be a clear proof of its conclusion on a given date and on specific terms.

Discussing the contents of the loan agreement

  • The contract’s compilation is a preliminary part, defining the place, time, circumstances and parties to the activities described in the further part of the contract. A party to the contract may in principle be any civil law entity, i.e. a natural person, a legal person, an entity without legal personality, as referred to in art. 33 1 1 of the Civil Code, provided that it has legal capacity. There may be more entities on each side of the contract. In the comparison, each party to the contract should be specified very precisely, by giving it: name and surname / company / name; address of the place of residence / registered office; PESEL / KRS number, NIP, REGON number; the designation of the registry court in which the company documentation is kept and by indicating its share capital in order to avoid any possible difficulties in identifying the parties. You can also include other data that are required by specific regulations, or that facilitate contact with the site, or its suing or debt enforcement. In a situation where the party is not a natural person, the entity representing such a party should also be designated. The identification of the entrepreneur should be accompanied by a current copy in the printed version issued by the Central Information of the National Court Register or information corresponding to a current copy from the register of entrepreneurs downloaded from the website of the Ministry of Justice, and in the case of an entrepreneur being a natural person printout from the Central Register and Information about the Activity website Economic or other documents proving that the entity is authorized to represent the party. In the comparison, it is also possible to conclude a preamble of the contract, specifying the main goals or circumstances of concluding the contract, which may have a significant impact on the interpretation of statements made by the parties to the contract.

§ 1 para. 1

  • According to the provisions of art. 720 1 of the Act of 23 April 1964. The Civil Code (hereinafter: kc) by a loan agreement granting a loan undertakes to transfer to the owner of a recipient a certain amount of money or things marked only to the species, and the taker undertakes to return the same amount of money or this same amount of things of the same species and the same quality. Based on Article. 720 § 2 of the loan, the value of which exceeds one thousand zlotys, requires maintaining the documentary form. According to this provision, the subject of the loan agreement may be money or movable property marked as to the genre. Items designated for a species can be agricultural crops (eg rye quintal), raw materials (eg a ton of coal), industrial goods like gasoline or cement, etc. It must be said that these can be tangible objects, unidentified as to the identity that defines using units of measure (weight, quantity). It is necessary, however, that they have a material form. However, the subject of the loan agreement can not be company shares, because they are not money, or things marked only as to the genre. The most popular subject of the loan agreement is “a certain amount of money”. According to the latest jurisprudence and doctrine, the term “specific amount of money” should be interpreted broadly as money units, and therefore also non-cash money and banking money, expressing a certain economic value, including foreign money. In addition, in the case of a loan agreement, the value of which exceeds PLN 1,000, the documentary form must be preserved. This is an ad-probation form for evidentiary purposes, which means that the failure to comply with the form does not invalidate the contract, but leads to obstacles in the evidentiary proceedings, as in such a situation the parties can not plead before the court for a legal action based on on evidence from interrogation of witnesses or parties.

§ 1 para. 2

  • The lender may transfer to the Borrower the cash amount specified in the contract at the time of its conclusion, but also after the conclusion of the loan agreement, on the date indicated by the parties. An important act is the acknowledgment of receipt of the indicated loan amount by the Borrower. The receipt of the loan amount may be made by the conclusion of the loan agreement itself (as in the contract template) or by a receipt on a separate document attached to the contract.

§ 2 section 1

  • The borrower should undertake to return the loan subject within the specified time. According to art. 723 of the Civil Code, if the date of returning the loan is not marked, the debtor is obliged to return the loan within six weeks after being terminated by the loan grantor. The principle is that the parties can freely specify in the contract the repayment of the loan subject, though they are not obliged to do so, as the deadline it is not a necessary element of this agreement. Sometimes the term is defined in a descriptive way or it can be deduced from other contractual provisions.

§ 2 para. 2

  • The parties to the contract may, but are not obliged to specify in the contract the capital interest, constituting remuneration for using the subject of the loan agreement. It can not be ruled out that the loan agreement will be concluded free of charge. In addition, possible failure to return the subject of the loan agreement in a contractually agreed time or after termination, within 723 kc, causes the borrower to fall into delay or delay and results in the obligation to pay interest to the lender for delay in accordance with art. 481 kc- irrespective of the determined capital interest constituting remuneration for using the subject of the loan – as well as repairing the resulting damage for the lender.

§ 2 para. 3

  • The return of the loan is carried out in the same way as when issuing the loan. In other words, it is not necessary to personally provide the borrower and this does not always mean having to transfer ownership. It is sufficient only to create a legal lender for the possibility of using the object of the returned loan, as the owner of the thing can do. The transfer of ownership of money or items marked with respect to a species may take place in any law provided for example by transfer to the lender’s account, handing over a promissory note, etc., in which case the repayment of the subject of the loan agreement will take place only upon cash withdrawal. If the refund is made not by physical handing over or handing over, the moment of return is to acknowledge the lender’s account, cash withdrawal or obtaining power over the thing.

§ 3

  • The parties may include additional statements and obligations in the contract to ensure the proper performance of the contract. The lender may, for example, declare that he has sufficient financial resources to grant the Borrower, in a situation when the subject of the loan agreement is issued after the conclusion of the contract, as well as may be a deadline for obliging the lender to issue the subject of the contract to the borrower.

§ 4

  • The parties are entitled to include in the text of the contract provisions regarding the possibility of terminating the contract in the event of special circumstances. It should be noted that if the deadline for returning the loan object in the parties’ agreement is not marked, 723 kc is applicable, on the basis of which the borrower is obliged to return the loan subject within six weeks after the lender’s termination. Termination is a one-sided declaration of will, which should be clearly justified by the fact that the lender demands the return of the loan. In the statement, there is no need to indicate the date of return, because it is defined by the provision of art. 723 kc. The lender may, however, set a longer and more advantageous date of return for the borrower.

§ 5

  • Final provisions regarding important issues such as the possibility of applying specific provisions in cases of non-compliance with given issues in the text of the contract, forms of contract amendment and rules for incurring costs related to the conclusion of a contract. In addition, they should specify the court before which all disputes related to the performance of the contract will be resolved. An important aspect is the mentioning of annexes in the text of the contract, which should be attached to it. The contract should be prepared in as many copies as there are entities on each side of the contract, although the parties may end with one copy for each party.

 

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Non-bank consolidated loan – is it a last resort? http://www.immoprogram.com/2019/02/28/non-bank-consolidated-loan-is-it-a-last-resort/ http://www.immoprogram.com/2019/02/28/non-bank-consolidated-loan-is-it-a-last-resort/#respond Thu, 28 Feb 2019 08:10:46 +0000 http://www.immoprogram.com/2019/02/28/non-bank-consolidated-loan-is-it-a-last-resort/

 

We usually avoid non-bank consolidated loans when we can take advantage of the offer at the bank. We often associate them with dangerous services that are associated with very high costs. However, currently the image of consolidated loan companies is improving and they have more and more customers. Is the non-bank consolidated loan still a last resort?

Non-bank consolidated loans are primarily characterized by better availability. Currently, more and more consolidated loan companies go out of the way of customers’ expectations and also offer internet consolidated loans that we can take without leaving home. This is a great convenience for those who need money immediately.

The amount that can be borrowed non-banking also increases. Only a few years ago, the maximum sums for new customers fluctuated around PLN 1,000. Now they are several times higher, and often we can also borrow a five-digit amount without any complicated formalities.

When should you opt for a non-bank consolidated loan?

consolidated loan companies target their services primarily to customers who need a quick cash injection. Unlike banks, we can receive money in a much shorter time – even on the same day. Such a date is also possible in banks, but nevertheless we have to go to the facility personally.

Thanks to non-bank consolidated loans, we will usually borrow smaller sums – when it comes to payday consolidated loans, it is usually a sum of up to PLN 2,000 or PLN 3,000 for up to 30-60 days. If we need a higher sum, we may decide to consolidated loan installment non-banking, which we may incur already for several years. Then the maximum consolidated loan amount is even up to PLN 10,000.

Non-bank consolidated loans are also willingly chosen by those who do not completely meet all banks’ requirements . This applies, for example, to creditworthiness, form of earnings or creditworthiness. It is worth pointing out, however, that a consolidated loan without a BIK or a consolidated loan for the unemployed is not possible everywhere – here everything is dependent on the requirements of the consolidated loan company.

How to take a good non-bank consolidated loan?

When you want to use the services of consolidated loan companies, let’s remember to have a good x-ray before using the offer. This is mainly due to the fact that not every lender is trustworthy. Unfortunately, there are consolidated loan companies targeting frauds that use unlawful clauses in contracts, do not inform customers about all matters.

Information on the reliability of consolidated loan companies can be found very easily on the Internet. We can enter the KNF website to check whether the company we have selected is not on the list of warnings. We can also find opinions on numerous forums or in comparison and consolidated loan rankings. This will allow us to select such an offer that will be safe.

When you need a quick consolidated loan for your expenses, we invite you to use our services at Aasa Polska. For customers, we have prepared a quick consolidated loan of up to PLN 10,000 for up to 24 months. Now you can take it completely via the Internet – we invite you to submit an application!

 

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Tax on consolidated loans from a private person http://www.immoprogram.com/2019/02/28/tax-on-consolidated-loans-from-a-private-person/ http://www.immoprogram.com/2019/02/28/tax-on-consolidated-loans-from-a-private-person/#respond Thu, 28 Feb 2019 07:43:03 +0000 http://www.immoprogram.com/2019/02/28/tax-on-consolidated-loans-from-a-private-person/

 

The tax on a consolidated loan from a private person is 2%. The tax obligation arises at the time the contract is concluded and rests with the borrower. The tax base is the amount or value of the consolidated loan.

Tax on a consolidated loan from a private individual – is it obligatory?

The tax on civil law transactions is taxed:

  • money consolidated loan agreements,
  • consolidated loans for items marked only for the species,
  • changes in the consolidated loan agreement, as long as they result in tax increase of PCC,
  • court decisions and settlements, if their consequence are changes in the consolidated loan agreement.

A consolidated loan agreement from a private person is taxable when:

  • The consolidated loan concerns money or things in Poland or property rights in Poland. It does not matter where the contract was written, or where the pages that make up it live. The criterion determining the arising of the tax obligation is the place of placing the subject of the contract at the time of its preparation.
  • The subject of the consolidated loan are items located abroad, but the purchaser lives or is based in Poland and the consolidated loan agreement has been concluded in Poland. Importantly, in the latter case, both conditions must be met jointly. This means that the tax obligation arises when the borrower lives in Poland and when the consolidated loan agreement was concluded on the territory of the Republic of Poland.

The consolidated loan agreement is a consensual contract and subject to taxation regardless of the consolidated loan subject. If you take a consolidated loan from a company that deals with this type of business on a daily basis, then such a consolidated loan will be exempt from PCC tax. The obligation to pay it applies only to consolidated loans from private persons who do not carry out economic activities related to the provision of financial services. If we do not comply with the tax obligation, we will pay an increased tax rate on the consolidated loan. It is up to 20% and it is so-called sanction tax rate. Such a high tax will be charged to us when:

  • the taxpayer, in the situation of tax control, tax proceedings or customs and tax control, informed about the fact of preparing the consolidated loan agreement, and the tax on this activity was not paid;
  • the borrower borrowed money from the immediate family and a consolidated loan agreement was made, but he did not document that he had received certain funds.

When is the tax obligation arisen?

The tax liability for a consolidated loan from a private person arises at the moment:

  • civil law transactions – ie the conclusion of a contract or any changes to the contract, if they result in an increase in the amount of tax,
  • each withdrawal of funds, if the consolidated loan agreement specifies that the funds will be “selected” repeatedly, and the sum of all payments is not known at the time of drawing up the consolidated loan agreement,
  • validation of a court decision, delivery of an arbitration award or settlement.

Who is entitled to tax exemption from PCC?

consolidated loans granted between persons belonging to the first tax group are exempt from tax on civil law transactions. Importantly, this exemption applies only to PLN 9,737. We do not have to pay tax when we borrowed money from the spouse, ascendants, descendants, stepchild, son-in-law, daughter-in-law, siblings, stepfather, stepmother and parents-in-law. The amount indicated above is the upper limit on how much we can borrow within 5 years from one person if we want to avoid tax.

In addition, we also have the option of obtaining an unlimited consolidated loan from the aforementioned entities, with the exception of consolidated loans between the parents-in-law and son-in-law. If we want to use this option, we must submit a declaration regarding the tax on civil law transactions. We submit it to the competent tax authority within 14 days from the date of the performance of the taxable activity. We must also document that we have received the money.

When will we not pay the tax?

It is worth knowing that there is a catalog of activities that are not subject to PCC tax. These are consolidated loan agreements regarding:

  • alimony, care, guardianship and adoption matters;
  • social insurance, health insurance, social welfare, reliefs specified in special regulations for non-professional soldiers and persons performing substitute service and their families, as well as rights for disabled persons and persons covered by provisions with special rights for veterans;
  • election of the President of the Republic of Poland, election to the Sejm, Senate and local self-government bodies and referendum;
  • universal defense duty;
  • employment, social benefits and remuneration for work;
  • science, education and out-of-school education and health;
  • subject to regulations on real estate management or toll motorways regulations;
  • related to the provisions on specific rules for the preparation and implementation of investments in the area of ​​national roads;
  • subject to the provisions on special rules for the reconstruction, renovation and demolition of buildings destroyed or damaged as a result of the action of the element.

A consolidated loan from friends and tax

The issue of consolidated loans from persons with whom we are not related is different. These consolidated loans may also be subject to tax exemption. This is art. 9 par. 10 of the Act on tax on civil law transactions. We will not pay the tax for consolidated loans:

  • from one person in the amount not higher than PLN 5,000 or PLN 25,000 from many people – received within 3 consecutive calendar years, starting from January 1, 2009;
  • granted by entrepreneurs who do not have their registered office in Poland and who conduct activities related to granting consolidated loans or credits;
  • from cash registers or plant and related funds,
  • other special-purpose funds established by way of the act,
  • obtained from a partner (shareholder) in a capital company.

Tax on consolidated loans from a private person. Summary

The basis for taxing a consolidated loan from a private person is its amount. If the contract contains a provision for multiple withdrawals, the taxable amount is always the amount collected. Usually, the tax on civil law transactions is 2%. If we do not fulfill the tax obligation, we will pay as much as 20% of the tax.

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What to choose: A bank or private loan consolidator? http://www.immoprogram.com/2019/02/28/what-to-choose-a-bank-or-private-loan-consolidator/ http://www.immoprogram.com/2019/02/28/what-to-choose-a-bank-or-private-loan-consolidator/#respond Thu, 28 Feb 2019 04:36:35 +0000 http://www.immoprogram.com/2019/02/28/what-to-choose-a-bank-or-private-loan-consolidator/  

If you have decided to borrow money , you have probably thought about borrowing from your bank or taking a consolidated loan online. The media tells you that online consolidated loans are something you need to stay away from and go to your bank instead – which can immediately sound sensible if you compare only to APR, but there are far more parameters that are important to you as a borrower.

Here we give you an insight into how online consolidated loans can easily be a solution for you as long as you have your planning in order and can borrow with responsibility.

What can your bank do for you?

The bank can be an obvious choice if you want to borrow large consolidated loans. There, for example, they can offer you mortgages and car consolidated loans if it is the house or car you have in mind to buy. They also offer you a longer term so you can pay off your consolidated loan over a longer period.

In addition, there is also some reassurance that you can come to a personal meeting with your bank adviser and   Get a talk about your finances. However, this option is not available in addition to online consolidated loan providers as they also offer personal advice – just over the phone.

Having said that, the bank is not necessarily the only option you should consider. If you are in a situation where you need your money quickly, the bank can unfortunately not help you as effectively. At the bank, you need a longer process to be approved for a consolidated loan that can be time consuming, which is not so ideal if you need money quickly.

What can an online consolidated loan provider do for you?

An online consolidated loan provider can give you your money fast and lead you through the application process faster than your bank.   You do not need to provide security or find papers and they can also guide you on their offers as effectively as the bank can. There are fewer requirements for you as a borrower, but this does not mean that an online consolidated loan provider lends to anyone. All providers will set you some specific requirements that you will have to meet and a credit rating will also be taken of you – they also see that the consolidated loan matches your finances and can pay off on time.

So if you need a large consolidated loan, a car consolidated loan or a home consolidated loan, you can benefit from visiting your bank.

But if you sit at home and need a consolidated loan where the money is in your account right away, you can choose an online consolidated loan.

Compare your desired amount with other consolidated loan providers and find a quote that best suits you. But be aware that the APR is not particularly suitable for comparing online consolidated loans with bank consolidated loans. Online consolidated loans have a maturity of less than one year, and since the APR only calculates annual costs, it will be much higher than bank consolidated loans. Compare bank consolidated loans and online consolidated loans with the same maturity to get a proper comparison.

Whatever provider you choose, you should always have a budget ready. Know your disposable amount and find out how much you can use to pay off your consolidated loan and remember to take out consolidated loans with accountability.

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Checklist: Get approved for consolidating loans http://www.immoprogram.com/2019/02/28/checklist-get-approved-for-consolidating-loans/ http://www.immoprogram.com/2019/02/28/checklist-get-approved-for-consolidating-loans/#respond Thu, 28 Feb 2019 04:32:42 +0000 http://www.immoprogram.com/2019/02/28/checklist-get-approved-for-consolidating-loans/

 

 

If you want to consolidate loans, there are certain requirements and conditions that you must take into account. This checklist has just been prepared for you, who have a desire to borrow a larger or smaller loan for private use. In the article you can read everything worth knowing about the topic.

The most basic loan requirements on the Danish loan market

If you want to take out a bank consolidated loan, then you must be prepared to be educated with your bank assistant, as many strict requirements and conditions are set by Danish banks. However, this can get you off if you take out a loan online – also known as an online loan. Today, there are many Danish loan providers who only make a handful of basic requirements for you as a borrower.

  1. Your age – Of course, it takes a certain age to borrow money in Denmark. You can generally take out a private consolidated loan when you are 18 years of age. However, there are also many loan providers that have a higher age requirement. There are examples of loan providers who have a firm requirement that you must be 19, 20 or 25 years old. If you belong to the younger target group, then you must pay particular attention to the loan provider’s requirements for your age.
  2. Your residence – It is a requirement that you must reside in a Danish population register address. You must of course travel abroad during the period if you are still registered at a Danish address. In this connection, it should also be mentioned that you must not have either name or address protection. It is naturally related to the fact that it must be possible to identify you.
  3. Your nationality – You must be a Danish citizen at the time you apply for a private consolidated loan. It is not essential whether you have one or the other background. The loan providers only emphasize whether you have Danish citizenship.
  4. Job situation / income – It is very common for the loan provider to require you to be an employee or self-employed – and thus have a fixed income. If you have a good and healthy economy with fixed income and profits in the bank account, then you have better chances of borrowing money. In relation to this loan requirement, you may be asked to provide documentation in the form of pay slips or tax returns.
  5. Access – If you need to borrow money from a Danish loan provider today, then it is necessary that you have access to NemID. It is through NemID that you have to approve and sign a private loan. It is a safe and simple solution that caters to both parties, as there is a focus on high security. As a general rule, you sign a loan agreement with its digital signature, but in special cases it is also possible to sign the loan agreement physically.
  6. Danish telephone number and bank account – Furthermore, it is required that you have a Danish telephone number and a Danish bank account. If you approve and sign the loan, you will be transferred the money directly.

It is alpha omega that you can check all consolidated loan requirements if you have to borrow a private loan. If there are one or more requirements that you cannot comply with, then you must contact the relevant loan provider in order to find an alternative solution.

Attitude to bad payers – Registration in the RKI or the Debtor Register

If you borrow money from a Danish loan provider, then the loan provider will naturally look at whether you have defaulted debt. If you are stamped as badly paying in the RKI and / or the Debtor Register, it will affect your loan options. Danish loan providers are reluctant to borrow money for bad payers.

It is not impossible to borrow a loan despite the RKI and the Debtor Register, but it can nevertheless complicate the entire loan process. There are Danish loan providers who openly state that they do not want to borrow money for bad payers. However, there are also loan providers who want to prepare a loan offer despite the RKI and the Debtor Register.

Relationship between loan amount and consolidated loan requirement

There is a completely natural connection between loan amounts and loan requirements. If you request a high loan amount, then you should also expect that the loan requirements are strict. It is a reality that the vast majority of Danes can take out smaller loans in the form of mini loans , mobile loans and quick loans . However, this is different when it comes to larger consumer loans , where the loan providers do not lend money to anyone.

If you want to take a large loan amount, you must include a large number of information about your income and finances – as well as documentation. Whether or not you own larger values ​​consisting of car, housing, boat or electricity can also have some influence.

If you submit a loan application to any loan provider, a credit rating will always be made. There are some of these credit ratings that are prepared automatically using technical algorithms, while others are prepared manually.

A credit rating briefly states that a lender must investigate the likelihood that a borrower will repay the loan amount on time. However, there can be a big difference between how extensive a credit rating is. Your personal credit rating will not only influence whether or not you can take out a private loan. It will also influence how cheap you can borrow money, where factors such as interest and APR come into play.

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Loan money now – Consolidated loans will be cheaper and quick to search http://www.immoprogram.com/2019/02/28/loan-money-now-consolidated-loans-will-be-cheaper-and-quick-to-search/ http://www.immoprogram.com/2019/02/28/loan-money-now-consolidated-loans-will-be-cheaper-and-quick-to-search/#respond Thu, 28 Feb 2019 04:19:32 +0000 http://www.immoprogram.com/2019/02/28/loan-money-now-consolidated-loans-will-be-cheaper-and-quick-to-search/

 

If you are in a situation where you urgently need to borrow money right away, you may be obliged to take out a consolidated loan online as the payment and approval take place immediately. Thus, you can have the money in your hand here and now.

More and more Danes today choose to borrow money on the net versus going to the bank. It is both easier and faster to record these kinds of consolidated loans today than previously.

Today, the whole process takes place which makes it easy to get money into the account. You can see where you can borrow now and here and get advice on what you are missing.

Mortgages become cheaper

Due to high competition in the market for consolidated loans, it has become much easier today to get approval for a consolidated loan from the network. Due to a steadily increasing number of providers, interest rates are also being squeezed completely and many today can drop cheap over a consolidated loan period. In fact, several providers today offer that you can get money in the account for free, if you simply choose to repay within the agreed repayment period.

Another option you have to get the cheapest consolidated loan at all is to apply for more providers at the same time so you subsequently have the opportunity to compare across the various offers you will subsequently receive. The interest rate is adjusted individually and according to how your financial situation is at the time of application. Several credit ratings are different and therefore the interest rate will naturally also fluctuate between these providers.

Consolidate loan now and pay later

You can of course expect that you can pay later. You must get the money into your account immediately after you have received approval. Depending on the amount of consolidated loan and the provider you choose, the repayment period may extend from a few weeks to several years. Now the longer the maturity you choose, the lower the amount you will have to pay each month, but the total cost will be significantly higher by choosing this solution.

You can see through an amortization table how your payments will fall. Another important and very important thing about borrowing money is that you compare and investigate the market thoroughly before you just throw yourself into it. There can be a lot of money to save and there are still benefits to visiting your local bank before applying online. You can see more about money prices and rights

Remember that you can often save money by redeeming your consolidated loan early. This is often allowed completely without additional redemption costs. If possible, you should take advantage of this opportunity to avoid paying interest for the entire duration of the consolidated loan. If you have more than one consolidated loan in several places, you can also advantageously examine your options for collecting all your consumer consolidated loans with one and the same provider, thereby saving money on a possible consolidated loan. lower interest rates.

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Consolidated loans with and without security – Advantages, disadvantages and opportunities http://www.immoprogram.com/2019/02/28/consolidated-loans-with-and-without-security-advantages-disadvantages-and-opportunities/ http://www.immoprogram.com/2019/02/28/consolidated-loans-with-and-without-security-advantages-disadvantages-and-opportunities/#respond Thu, 28 Feb 2019 01:09:37 +0000 http://www.immoprogram.com/2019/02/28/consolidated-loans-with-and-without-security-advantages-disadvantages-and-opportunities/

 

 

When you need to take out a consolidated loan at the bank, at a loan company or through the new concept of crowdfunding, where individuals can borrow money for other private individuals, you must always be able to repay the money.

But it is different whether you place a home or car as a security on your consolidated loan.

Pros and cons

There are both advantages and disadvantages in providing security. One of the benefits is that your bank or company you are trying to borrow money will feel more confident about getting the money if you are lending with certainty. Therefore, they will most likely be more likely to give you a good price. Interest and fees can thus be less.

The advantage of unsecured consolidated loans is quite simple. For you do not have to put in any great value to take a big consolidated loan. On the other hand, you must also be aware of slightly higher interest rates, as your bank or consolidated loan company takes a larger rate by giving you the money.

What can security be?

In general, it can be said that security must be of high value, otherwise it may not pay for the bank or the company to bet and give you the money. Usually it is a car or a home, but in theory it can easily be other things. So if you have a pair of Rolex watches, you can easily throw them in as security if the bank otherwise agrees.

The consolidated loan ceiling online – 350,000 kroner

You can borrow huge amounts on the internet, but there is still a limit. At Santander Bank you can borrow up to 350,000 kroner. But it is also the largest amount you can find with providers online. If you have to spend more than DKK 350,000, you must be in the bank where there is the possibility of even larger amounts.

The consolidated loan ceiling in the bank – determines your private finances

That said, the bank is the place where you can really borrow the huge sums. But it requires a check of your personal finances. It is common practice among providers that a credit rating is made, where you look at your financial conditions.

Here you think of your income, your savings and everything else that has to do with your finances. If you need such a large consolidated loan, it can often help to provide some form of security.

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