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The need for credit is steadily increasing. Many consumers want to finance a wish that would not be possible without the financial support of the bank. Or the loan can be used to pay off existing liabilities. Because many consumers have accumulated debts over many years, which can only be reduced by bundling them in one loan.

No matter for what reason you want to take out a loan: It is important for borrowers that the loan is accompanied by favorable terms and if possible does not require advance payment. After all, you want to borrow money from the bank and not give it money for the loan.

Where to get a loan without prepayment

A loan without prepayment is not uncommon. Rather, such a loan is standard. Above all, if you take this up at a regular bank or savings bank. No prepayment is required here, since the costs for processing and care were taken into account in the interest. It does not matter whether the loan is taken out locally or from a direct bank on the Internet. If you want a credit without prepayment, you only have to choose a reputable provider.

How to recognize a reputable provider for a credit without prepayment.

Anyone who specifically searches for a loan will also find a reputable provider. All major banks and the savings banks are included. If you are looking for a provider on the Internet, you should make sure that all credit information is clearly and clearly shown in advance. Hidden costs or inaccurate information are a sign of a dubious provider. On the other hand, if you put all the facts on the table right away, you have nothing to hide and will not require prepayment.

It is also important that you do not take out the loan through an intermediary. They usually take a prepayment to cover their costs. Intermediaries often appear when a negative Credit Bureau does not make it possible to take out a regular loan. If you want to prevent this, you should either try to make direct contact with the lending bank or look for another way of getting a loan.

So you can hope for a regular loan with a second borrower or a guarantor even with a negative Credit Bureau. However, it is important that the second person is solvent and has a high income. The bank can therefore view this option as security and will reconsider its decision on a loan without prepayment.

It is therefore possible at any time to take out a loan without any upfront costs. And in a very legal and serious way. Namely at a bank that offers good interest rates and attractive conditions for a loan.

Mortgages are a product worth looking for a little longer. If you want to know how to apply for it, what offers to look for and the most important – which conditions should be met, this text is for you.

Creditworthiness – this is the slogan that almost every mortgage applicant is afraid of. True, ability plays an important role, not only with a mortgage.

Remember, however, that the requirements of banks are not always identical, so in one bank your mortgage application may be rejected, and in another accepted without reservations.

What affects creditworthiness?

Financial conditions – in which bank to take a mortgage?

Mortgages differ in terms of the contract – depending on the bank you will need other documents and the bank will pay attention to other factors. It is also important what property you plan to buy.

Due to different conditions for obtaining a mortgage, it is worth checking the offer of at least several banks.

Tip 1: GFI mortgage

There is no clear answer to the question: ” mortgage – where is the best? “Because everyone will not be awarded the cheapest offer on the market. Also, remember that a mortgage is a commitment for years, so even if you didn’t get a favorable offer today, you can transfer your mortgage to another bank in a year or two.

Tip 2: Good Lender mortgage

The bank assesses creditworthiness not only on the basis of income but also on the type of employment contract. An employment contract of indefinite duration is given priority, but currently, even people working on a mandate contract can apply for a mortgage – provided that the continuity of orders over the past 12 or 24 months (depending on the bank).

Tip 3: Good Finance mortgage

Credit history is checked, maintenance costs are verified. A single mortgage will be harder to get in the case of average earnings and no permanent contract. Two salaries mean higher income, a greater guarantee of loan repayment if one of the people stops working.

How to lower your installments and in which bank to take a mortgage?

Transferring a mortgage to another bank may make the loan more advantageous and installments lower.

This is called refinancing, which involves repayment of a more expensive loan from a new, cheaper loan. Mortgages should be refinanced when you took out a loan on unfavorable conditions.

Thanks to refinancing, you can also consolidate loans secured by a mortgage. One installment, instead of several, can be much more profitable, and certainly more convenient.

If you decide to transfer your loan, be sure to check the fees associated with it. Compare the current credit conditions with the offers from several other banks and on this basis make the final decision to change the liability.

Is it possible to get a second mortgage?

Buying another apartment is a good investment, but few people can afford to pay for it in cash. The conditions for obtaining a mortgage when you take the second and subsequent offer may be a little easier. Of course, when you take a second mortgage, you still need to have credit standing.

The bank may also offer you a combination of two loans into one, but additional mortgage collateral may be required, e.g. by purchasing additional insurance.

Mortgage comparison service – which bank has the best offer?

Regardless of whether you take a mortgage for renovation or a mortgage for building a house, you need to find the best offer, including our Good Lender mortgage comparison tool. Enter the loan amount and repayment period and you will see which bank currently provides the best contract terms.

We checked the price of a USD 200,000 loan with a repayment period of 20 years.

How does the mortgage calculator work? 

Use the simple Good Lender tool to calculate the installments in a given bank. Thanks to it you will immediately know which mortgage loans meet your expectations.

All you have to do is enter the basic information: loan amount, repayment period and interest rate.

The mortgage repayment schedule will be displayed – for comparison – in fixed and decreasing installments. You can click “Find the best loan” to see which banks offer the terms you are interested in.

Do you take out a cash loan and want its costs to be as low as possible? You will certainly be pleased to hear that there are proven ways to reduce your borrowing costs. How?

The ranking of cash loans will help you in choosing the most attractive, the cheapest offer. What should you pay the most attention to in his case? What other ways can you resort to making your loan as cheap as possible?

What does the cost of a cash loan consist of?

The cost of a cash loan is not only interest accrued on the principal amount at the agreed interest rate, but also a number of other fees paid by the borrower. This cost includes:

• interest – their amount depends on the cash loan interest rate,
• bank commission – calculated for the granting of a loan or accession to a loan,
• insurance – insurance premiums, although it is usually optional for the borrower.

The most important cost element associated with bank lending is the interest rate on cash loans. It is limited by law and may not exceed twice the statutory interest, which currently amounts to 5 percent. per year and are the sum of the reference rate of the Good Finance and 3.5 percentage points.

How to reduce the cost of a cash loan?

The cost of cash loans can be reduced relatively easily. It is worth knowing at least a few methods that will make your credit cheaper – we present 6 proven tricks.

Negotiations with the bank

The first step that should be taken by any borrower who wants to reduce the cost of cash loans should be to talk to the bank. The only question is how to negotiate with the bank? It’s worth just contacting your bank’s credit advisor and trying to get better terms.

Customers who have a good credit history at the Credit Information Bureau or collateral in the form of their own contribution have a chance of negotiating success.

If the customer has a good history of cooperation with the bank and high credit standing, then the lender will be willing to take into account his reliability and grant him a cash loan on preferential terms.

Using your bank’s credit offer

Banks often offer credit promotions to regular customers in thanks for their loyalty. For the bank, this situation is optimal because it grants cash credit to a client whom he knows and whose financial flows on his account can be traced.

The credit risk borne by the lender with such offers is minimal, therefore the loan offer can be very attractive.

Comparing loan offers

On the credit market, most banks and cooperative savings and credit unions have in their offer cash loans for individuals and entrepreneurs.

Everyone can offer something different, and a comparison of individual offers of obligations in the desired amount and for a set period will help to choose the most attractive offer at a given time.

Choosing the right repayment option

A very important issue when calculating the cost of a cash loan is how it will be repaid. The borrower can reduce the total cost of lending if he pays attention to the number of installments and how their repayment has been spread over time.

It is assumed that the longer the loan repayment time, the lower the monthly installment will be, but at the same time, the total amount of interest will be higher than for cash loans with shorter repayment terms. The faster we repay the liability, the faster the bank will accrue interest on borrowed capital.

Use of additional products

The cross-selling mechanism, i.e. the strategy of offering additional banking products when granting loans, is most often used for mortgage loans. However, it can also be used with a cash loan to lower the loan margin and reduce the cost of additional loans.

If the bank allows changing the terms of the loan to a more favorable one only if you set up a free personal account, the borrower has nothing to think about – he can only open an account. Sometimes it is also required to transfer a monthly withdrawal to it.

However, if cross-selling includes the use of a credit card or other payable banking products, it is worth calculating whether changing the bank’s margin is worth paying for an additional, often unnecessary, banking product.

Repay loan ahead of schedule

The Consumer Credit Act and the group of such loans include cash loans taken out in Polish banks and credit unions for an amount not exceeding USD 255 550, allowing borrowers to repay the loan early. The bank may not prohibit this customer, and must also pay previously collected commissions and other fees in a proportional amount.

So if your household budget has a financial surplus, go ahead to partially or fully repay your cash loan, which will allow you to reduce the amount of principal and interest installments or shorten the repayment period, which will reduce your borrowing costs.

Bank loan refinancing

If your cash loan is expensive, consider refinancing it. What is loan refinancing? This involves converting a more expensive loan to a cheaper one in another bank. However, before you transfer your existing loan to another credit institution, review the terms of the contract.

It may turn out that refinancing will be a way to carry out the operation, but if you can reduce the overall cost of cash loans this way, you may want to pay the fees associated with ending your loan agreement ahead of time.

Every month, the Best Bank questions banking establishments about the level of demand for mortgage loans. During the month of March, the observation was as follows: the demand for housing loans continued to decrease… This observation can also be made over a longer period of time because this drop in demand is now lasting for a little over a year and can also be seen in many European countries today. The crisis we are going through is therefore clearly hitting the real estate and credit sectors, let us now try to identify the different reasons.

 

Declining household demand

When we talk about a drop in the number of mortgage applications, we most often talk about the role played by banks in explaining this trend, but it is not the only one.

In recent months, there has been a clear disaffection with demand, according to a study carried out by the Lite Lenders Bank, and the economic situation coupled with current uncertainties about employment does not encourage tenants to take action quickly.

 

Tighter European rules

Since the last financial crisis, and the fragility of the banking system that we have been able to observe, European directives and in particular the “Basel 3” agreements require banks to build up a higher level of capital, up to 10% of ” here at the end of 2018.

To achieve this, it is necessary either to increase the equity, or to decrease the assets and it is of course this second solution which was implemented by the network banks. The conditions of granting were thus tightened by the banks which require for example that the borrower is able to pay the additional costs and costs of file by a personal contribution, or that the situation after operation scrupulously respects the rate of debt (33% at present ).

 

A decrease in state support

The government’s spending reduction policy, which has been in place for many months, has not spared the real estate sector. Thus, for a little over a year now, the scope of the zero-rate loan has been reduced and the consequences are significant.

Previously widely used to finance the purchase of old housing, it can now only be used to finance the purchase of new or old housing refurbished.

 

The price of real estate

Despite the crisis we are going through, prices remain at extremely high levels. In the current context, buyers are becoming more and more demanding, and the goods that find takers are therefore those of very good quality and / or extremely well located. This configuration therefore limits the number of possible transactions on the market, and therefore directly the number of funding requests.

 

Conclusion

According to the various studies carried out, property prices in 2013 and 2014 should only fall slightly, by -1.1% and -0.4% respectively in the former, for example. Consequently, the number of transactions will also remain relatively low, around 700,000 per year and we should see a real rebound in the sector from 2015. However, the financing conditions being particularly favorable at present, this may be the right time to make an investment . Today, to motivate investors, banks and brokers focus on the particularly attractive rates of the moment, however this is not the only criterion to take into account when deciding to apply for financing. Your Wealth Management Advisor will best guide you through all the phases of your investment and the optimization of the arrangement of your bank loan.

1 in 4 French people use consumer credit. For 2019, this type of credit recorded an increase of 5.8%, with an overall outstanding amount of $ 224 billion. The personal loan remains at the top. However, other consumer loan formulas are emerging and gaining ground, like leasing.

1/3 of consumer loans taken out in the form of a personal loan. Personal loans remain the most requested consumer loan, with a 30% share of the market. Its flexibility and simplicity make the success of the personal loan. It is a loan without proof of employment. The borrower is entirely free to use the funds he receives from the bank. He can use the money to buy a vehicle, to finance a trip, to pay his bills. He is not accountable. The personal loan constitutes the loan without proof par excellence.

 

Revolving credit is losing ground

Revolving credit provides the borrower with a line of credit that he can use as he pleases. The loan is fully and automatically replenished when the borrower finishes repaying the loan. Considered as the most accessible consumer loan, revolving credit nevertheless exposes the borrower to a real risk of over-indebtedness. On the other hand, it displays the highest interest rates. All these conditions discourage borrowers who prefer to turn more, either to the personal loan or to the affected credits.

 

Leasing breaks free from the automotive market

Until now, leasing has mainly concerned the automotive market. It is a long-term rental contract replacing the traditional sale. Leasing offers many advantages. It allows in particular to acquire a vehicle at a ridiculous price, while benefiting from numerous guarantees and services. Car leasing represented around 37% of sales in 2019. The success of car leasing has gradually pushed other sectors to adopt this rental sale system. From now on, you can take out a lease to acquire a washing machine, a vacuum cleaner and many other consumer products.

 

Over $ 220 billion in total assets

All types of loans combined, consumer credit recorded total outstandings of $ 224 billion in 2019. The figure is still far from real estate outstandings, which stand at more than 1,000 billion. Nevertheless, the consumer loan recorded a clear growth of 5.8%. Social demonstrations at the end of the year somewhat slowed its progress. In December, the banks lent around $ 6.7 billion in the form of consumer credit.

Consumer credit is everyday credit, the one that finances everyday life. It tends to become essential. However, do not take a blind consumer loan. Use services like the comparator or the credit simulator beforehand. You can especially rely on the expertise of a broker / This credit expert helps you find and choose the most suitable and suitable offer.

 

Applying for a loan in Switzerland without Credit Bureau is very quick in the online process. The loan application can be made through an intermediary or directly.

Apply for a loan in Switzerland without Credit Bureau – online loan application

If you want to apply for a loan in Switzerland without Credit Bureau, you can do this via an online application from a credit broker. The procedure is reminiscent of an ordinary instant loan from a direct provider. The loan application is not extensive. Even “without practice”, the document can be filled out within a few minutes. The usual instant credit check is not easily possible with a loan without Credit Bureau. The examination procedure cannot be standardized since the credit intermediary forwards the credit request from up to 200 different credit providers.

Nevertheless, the result is not long in coming. If a loan can be arranged, the application documents are usually already in the e-mail inbox within one working day. The application documents and supporting documents must be sent to the credit intermediary using the post-ID procedure. Nevertheless, the credit intermediary is not the only way to apply for a loan in Switzerland without Credit Bureau.

Direct application for Swiss credit without Credit Bureau

Although it is repeatedly claimed that foreign loans without Credit Bureau are only possible through a credit intermediary, the statement is not correct. The process of using a reliable credit brokerage only has the advantage that the loan request is presented to various possible providers. This means that the likelihood of a commitment is higher, but agency fees have to be paid if successful.

The loan can be applied for in Liechtenstein, for example, without a placement fee, in a direct process. The Liechtenstein loan provider originally comes from Switzerland. The current loan offer as of August 2013 is:

Possible loan amounts for the loan without Credit Bureau are USD 3,500 net loan amount and USD 5,000 net loan amount. The smaller loan amount is customary for Credit Bureau-free loans, hence the example for 3,500 USD.

– Net loan amount 3,500 USD
– Effective annual interest rate of the offer 11.62 percent
– Total repayable amount 4,238 USD
– Term 40 months
– Monthly rate 105.95 USD

The credit costs are made up as follows:

– Interest costs at 40 months term 574 USD
– Processing costs 164 USD
– Total credit costs 738 USD

There are no agency fees.

Alternatives to Swiss credit

Applying for a loan in Switzerland is not the only way to get credit with a negative Credit Bureau entry. A loan despite a negative Credit Bureau, there is also from Germany. A loan broker can be of assistance in finding a loan. Alternatively, despite Credit Bureau, you can choose the direct route for a loan.

Loans from private donors offer fair opportunities. You can easily get in touch with investors via one of the large portals for private lending. On the two major platforms, the credit attempt is even free of charge. There is one limitation, however. Not all platforms allow applicants whose Credit Bureau entry has not already been paid for. All portals are only open to those who can achieve the Class H Credit Bureau Score.

As it turns out, applying for a loan in Switzerland without Credit Bureau through a credit intermediary does not have to be the only credit option for a bad Credit Bureau.