Monthly Archives: November 2019

Find Cheap Loans for Christmas and Ski Holidays Online

Christmas is an expensive time filled with costs for Christmas breakfasts, gifts, fun and if the family is going on holiday. There are many Danish families who choose to go on Christmas or ski holidays during December.

We take a closer look at your options for making Christmas loans in 2019. The loan market is a large and dynamic size that is constantly changing. Already since 2013, several new providers have entered the market.

Get a thorough insight into Good Finance’s options, so you’ll be well prepared to borrow money for Christmas, skiing or winter holidays online.

Loans for Christmas and ski holidays

Loans for Christmas and ski holidays

Apply from $ 1,000 to $ 400,000 online

When you need to make a Christmas loan, it can be for many purposes. It can be as loans for Christmas gifts, events, ski holidays or Christmas in general.

The clear advantage of applying for loans online is that the companies do not interfere with the purpose. You don’t have to “defend” what you need the money for. In many ways, it is easier and faster to get approved online, compared to the bank.

Your loan options range from USD 1,000 to 400,000 through providers such as Bank Good Credit and E-Money Bank, which are currently offering the highest amounts. But who offers what and what requirements do they have?

This preparation has been done by Good Finance. for you. We have created an overview of the best and most modern providers. Note that your purpose does not have a major impact on your options. Most people don’t ask for it at all.

Need money for the family ski vacation?

Need money for the family ski vacation?

Do you urgently need money for family skiing? In many Danish families, it is a tradition to leave every year, but money is not always enough. If you need a smaller loan, you will have good opportunities to make it online.

All you have to do is apply for a ski vacation loan from various providers and you will typically get a response within 24 hours.

So you can quickly get more loan offers if you otherwise have a reasonable income. Several providers will even require you to be at least 20 years old. The price of a ski holiday varies greatly depending on whether you are a couple or a family who is going away.

The destination is similarly important. A ski holiday in Val Thorens, France, will be significantly more expensive than a trip to Trysil in Norway.

In other words, a ski holiday can cost anywhere from 8,000 to 20,000 dollars person, depending on the number of days.

Therefore, before borrowing money for skiing holidays, you should have considered the following:

  • Where are you going and what are the prices?
  • Is it an adult or family trip?
  • In case of large money demand – could there be cheaper alternatives?

Particularly point 3 is crucial if you have had trouble approving a loan application so far. For with a cheaper destination, your borrowing requirements will be less and the chance of approval greater.

The trend is quite clear

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When you look at the many ski resorts in Europe. Norway is for small and large families, or for untrained skiers. Here the slopes are typically shorter and less steep.

If you go to France, Italy or Austria, the slopes will be significantly longer and the difficulty level is generally higher. At the same time, ski areas are more appealing to adult or youth trips. Not for families with children.

Our recommendations for the skiing

  • Families with children and untrained skiers: Norway
  • Youth tours, trained skiers, adult group: France, Italy and Austria.

By extension, it should be mentioned that Norway is generally significantly cheaper. If you first take to southern skies with snow, the price will be significantly higher.

How to find out your credit history, how to check your credit history for free online

The majority of the population of the Republic of Latvia has already come across it, especially those who have used credit offers or car leasing.

But what does “credit history” mean, and why do bank staff pay so much attention to credit applications? What can you find in your credit history and how do the borrower find out this information? These are the issues we will address in our article today .

What does “credit history” mean

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The credit history is identical to the financial liability statement that is created for a particular person. The credit history contains not only information about the loans already repaid , but also the person’s current liabilities. In addition to the basic information, the credit history also includes information on how each previous loan was repaid in good faith and whether the client is fully discharging his or her obligations to the utility companies (taking into account unpaid housing maintenance payments).

The proper execution of any of your financial obligations (loan repayments and utility bills) is the direct path to a clean and undamaged credit history that you will still need when applying for a cash loan, leasing, mortgage or car loan.

Not only banks, but also leasing companies can use the credit history database. In order to test yourself, it is advisable to review your personal credit history before each investor visit.

Individuals or prospective borrowers can check their details

Individuals or prospective borrowers can check their details

Verify their ideal credit file and then go to the lender for financial assistance. In this case, the probability that the potential borrower will be denied is zero.

For creditors, such a database is proof of the customer’s responsibility and good faith when applying for leasing or borrowing money. By looking at the credit database, the lender can immediately track the trend of past and present repayments. Often, it is this fact which is decisive when considering an application.

Completing all of the loan repayment terms can help you not to worry about your financial reputation. But it is enough to delay bills when negative marks appear in your credit history.

Such information is entered into the general database of the borrower and will be kept there for the next 5 years. In the event that the overdue payment has already been repaid together with the total credit debt, the negative information will also be visible to other credit organizations throughout this period.

Each bank or any other company you are processing a financial transaction in will enter their information about you in the credit history database. Later on, your future credit will be reviewed by a future investor in case you want to take out a loan again or apply for a lease.

What are the features of credit history?

What are the features of credit history?

For a potential borrower, the characteristics of their credit history influence various issues in the design of their next financial products . For example, if you have a perfect credit history and you decide to buy a new TV at a popular online store, you have a number of advantages over others who want to buy the same new TV model. Why: Firstly, you will certainly not be denied the option to purchase the installment, and secondly, you will be offered the most favorable terms. As a result, you will receive the TV as soon as it is shipped to your city and pay its value without the high commissions and annual rates.

The management of such stores, after applying for a hire purchase, will first check your reputation in the Solvency Database. If your credit history is “not dirty” and you have been “great” with many liabilities, then the creditor has no reason not to trust you. That is why he will offer you a number of perks, which will allow you to save substantially on your purchase.

How to pay for investment loan facilities

Investment credit or investment loan is a credit product provided by banking institutions with the aim of helping investors or business owners finance the construction of new projects or fund the expansion of existing projects. Most investment loans are used to finance the procurement of buildings, machinery, land, equipment, office inventory, infrastructure and initial working capital.

 

Investment loan

Investment loan

Investment loans are different from short-term corporate loans as well as working capital loans, which are mostly used to finance the increasing needs of companies or businesses, especially in terms of inventory and trade receivables. Investment credit or investment loan is often also referred to as a project funding facility or project financingng facility because it is the main target is to help fund projects that require very large funds.

However, funds issued by banks in the form of investment loans are not entirely in accordance with financing needs but only in part. In this case, the main source of financing must still come from the business owner himself or equity financing, investors or shareholder loans. In most cases, investment loans get the largest percentage of the total cost of development or projects, it can be 60 or even up to 80 percent of the total costs needed.

Different from other types of credit, investment loans are given in tenures or relatively long periods of time. Some banks even offer tenors of up to 15 years. The tenor is adjusted to the purpose of using the funds, which is to help finance the procurement of the company’s fixed assets which will generally be used for a relatively long period of time.

Another important thing to understand is that most banks offering investment credit products provide a grace period for repayment of loans obtained by debtors. The grace period is generally adjusted to the period needed by the debtor to complete the project and carry out a trial period. During the construction period, banks often also provide a grace period of interest payments that can be used by the debtor.

 

Payment of investment loans

It is generally done in installments or installments. Installments begin when the installment payment period ends. For installment payment schedules can vary – each bank, there are those that apply a monthly, quarterly, semester system and some even use the annual method.

For the amount of funds needed by each debtor in general varies, depending on the business sector they work at. For example, the amount of funds needed by a company engaged in mining will certainly be far greater when compared to the needs of companies engaged in the handicraft industry.

 

Investment credit facility

Investment credit

In the investment loan product there is also an investment credit facility commonly referred to as a Long Term Acceptance or Term Loan which is a credit facility provided to debtors who take credit for more than 1 year. In this facility, debtors are allowed to withdraw funds simultaneously or gradually depending on the agreements made previously with the creditor. According the payment can be done in installments or gradually.

The following are the types of Term Loan facilities based on the method of repayment or payment:

  • Term Loan or TL

Ie, an investment credit facility where the payment is done in stages or in installments or installments

  • Term Loan Grace Period (TLG)

That is a facility in investment credit where the method of payment only covers credit interest because the principal and interest begin at the end of the Grace Period.

  • Home Term Loan (TLP)

That is a facility in an investment credit where the payment is done in stages or in installments with the same principal amount every month and interest payments follow the outstanding.

It must be understood that the greater the number of loans obtained from investment loan products, the risk that must be borne will also be even greater, especially considering the credit tenure is fairly long. Even so, if it turns out that the assisted project is running well and produces good profits, then this credit product can be one source of income that is very beneficial to banking institutions. That is because the interest earned from investment loans will be obtained in the long term according to the tenor loan taken by the debtor.

When is it worth using a mortgage?

A mortgage or housing loan is a great solution for people who are looking for their own housing but cannot finance it with their savings. On the other hand, a mortgage loan will be convenient for those who are in a reverse situation – they already have property but need cash.

High amounts available to (almost) everyone

cash

Regardless of whether you decide on a mortgage loan in a bank or non-bank institution, this is a solution for those who need really high sums of money. In such situations, the room for maneuver is usually limited. Why? Let’s start with the easiest and fastest way to get cash: a non-bank loan, usually an online one.

Such loans are of course very convenient, fast and devoid of formalities, which means that even people with good creditworthiness reach for them. What’s more, the offer that non-bank companies can offer is really wide, which means that with a little help from a loan comparison tool you can easily choose the most advantageous and best suited loan. However, there is a snag – the amount of the loan. It is true that the maximum quota ceiling is much higher than a few years ago, but they are still rather average amounts.

If we need a really large amount of money, then we are unlikely to decide on payday loans – even if you can get up to 7,500 , 8,000 or 10,000 USD . Thanks to installment loans you can get more – up to 20 thousand dollar at GFI. Some also use a car loan (up to USD 100,000). However, even they may be insufficient and you have to take into account the fact that you must first have a vehicle of adequate value.

Meanwhile, mortgage loans are really large amounts, usually reaching several hundred thousand dollar. A non-bank mortgage loan at Good Finance gives the possibility of obtaining up to USD 5 million if the pledged property is worth this amount, although it must be remembered that the loan amount will not be greater than 60% of the property.

Another important issue is the ease of obtaining this amount of money compared to a regular bank cash loan. It is true that you can get up to several hundred thousand dollar using this form of financing, but you will need a really high creditworthiness, high earnings, high financial credibility (and a very rich repayment history), and in addition also another source of security – usually a guarantee.

A truly long-term mortgage

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Mortgage loans are especially recommended for those who are unable to pay back a high amount in a short period of time – a cash loan usually closes within a period not exceeding 10 years. Such a short time in relation to the amount of the commitment is too burdensome installments, for which the repayment can easily get a leg.

The longer repayment period, on the other hand, gives you greater certainty that the loan will be repaid without any disruption and risk of final property attachment. This does not mean, however, that you do not need to be careful. A mortgage with a long repayment period will work only if the borrower has a permanent, very stable employment and does not have to worry about sudden cut-off from the funds.

Money needed for any purpose

money

Mortgages, especially non-bank loans, are often not targeted financing. This means that they can be taken for any purpose from which the customer does not have to translate or settle (unlike a cash loan). However, in some cases, banks may prohibit the use of loan money for speculative purposes, including for investment in stocks. However, those who want to invest may take advantage of a non-bank loan, which is unlikely to apply such provisions in the loan agreement.

You don’t always have to own property

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In crisis situations, even those who do not own real estate can take advantage of the mortgage loan. Some institutions may agree to grant financing against a third party mortgage – and it may not even be related or allied. The basic condition is only that the property owner agrees to establish a mortgage.

Risk-free mortgage loans

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As a summary, we will mention once again that mortgage loans will be perfect in situations where the borrower needs a large amount of money, prefers to pay back the loan for a long period and wants to spend money for any purpose (or purposes). Non-bank loans will not yet exclude people who do not have a good credit history and are even indebted. So they are perfect for those who want to quickly pay off high debt, but do not want to sell probably the most valuable things they have – a house or apartment. Thanks to the mortgage, they can continue to live and use it as their property.

Mortgage pledges, however, carry some risk. First of all, it risks losing property and considerable costs resulting mainly from large amounts and long repayment periods. Therefore, it is not always enough for the creditor to sell the property to cover the sum of the liability and interest. This should be borne in mind and remember that liability for the commitment increases in proportion to its amount.

Bank of Canada Announces Interest Rate

The Bank of Canada has once again decided to leave the key rate unchanged. The central bank keeps this rate, also called the target for the overnight rate, to 1% since September 2010.

Mark Carney said he would like to raise the interest rate soon

Mark Carney said he would like to raise the interest rate soon

In an effort to deter Canadians from getting into more debt. Ultra-low mortgage interest rates artificially inflate long-term affordability and encourage consumers to borrow money. Unfortunately, the debt of Canadian households has reached a record level of 163% of the debt-income ratio . The Bank of Canada has described this situation as a threat to the national economy.

“In Canada, while global turbulence continues to constrain economic activity, internal factors support moderate expansion. Following the recent period of below-potential growth, the economy is expected to recover and return to full capacity by the end of 2013, “the Bank of Canada said in a statement.

The central bank estimates household indebtedness will continue to grow

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“The housing market is expected to fall from its historically high level, while the household debt burden is expected to increase further before stabilizing at the end of the period. projection. ” The appraisal report also contains information about the basis on which a given person prepares the valuation and the basis on which it performs it, which sources it uses to describe the property. This is particularly important because the survey contains a detailed description of the property, its physical and legal status, and how it is used.

Lenders use the key interest rate to set their preferential interest rates. For example, if the key interest rate increased by 0.25%, lenders would increase their prime rate. Fortunately for variable rate mortgage holders, the key interest rate remained at 1.00%, leaving their mortgage rates safe and sound. At the moment, the best 5-year variable rate available on Roy Hobbs at a discount of – 0.45% or 2.55% on the key rate.

 

Loans to Bad Payers

 

Loans to bad payers are loans granted to those who have been registered in the credit bureau register as a bad payer, hence the name of this particular financing solution. We will deal in depth with everything related to this form of loan, from those who can request it as long as there are alternatives.

Who are the bad payers?

Who are the bad payers?

The definition of bad payers refers to those who have been reported as such and have been entered in the special bad pay register, kept by credit bureau. In short, astro is the computer system where there are the names of all those who have applied for funding (both bad payers and non-payers) and where the credit history of a person can be seen (consequently being registered with bureau is not synonymous with being a bad payer), while credit bureau is a company with various offices around the world, which holds the aforementioned astro register.

To become a bad payer it is theoretically sufficient not to pay even one installment of a loan or loan on time. No matter the reason, the sufficient condition is the non-payment of the installment. In practice it often happens that if you skip the payment of an installment, the finance company tries to collect it in the following month. If it succeeds, there are usually no consequences, otherwise you could be reported as a bad payer. For more information, contact your bank.

Loans for bad payers

Loans for bad payers

What are the loans granted to bad payers? We can basically see three types of financing:

  • employee loans
  • proxy loans
  • changed loans
  • pawnbrokers

These loans are granted to bad payers because they have excellent guarantees for the financial company. The assignment of the fifth and the proxy loans present the guarantee of the salary (better if you have an open-ended employment contract), while the promised loan (also known as a loan with promissory notes) has the guarantee of signing promissory notes, which are securities executive and, as such, are easily “convertible” into cash in the event of non-repayment of the installments.

In our list, the first solution can be requested by employees or pensioners, the second by employees and the last also by self-employed workers.

Employee loans

The classic loan to bad payers is the assignment of the fifth, be it salary or pension. The guarantee, as mentioned, is the presence of a salary and TFR (Employee severance indemnity ). The fact that the installment is paid directly by the employer (on behalf of his employee) into the coffers of the financial company leads to greater tranquility on the part of the latter.

This type of loan is characterized, in fact, by the installment which is repaid with a deduction paid by the employer or pension institution to the financial company or bank.

Does the employer have to accept the assignment of the fifth?

The answer is “no”, in the sense that an employer has no power to decide whether a transfer of the fifth can be granted or not. The final choice is entirely up to the bank or finance company. However, he has a legal obligation to pay the installments in place of his employee. As we will see below, an employer has the option of accepting or not a proxy loan, or double fifth.

What is the maximum amount of the installment for the assignment of the fifth?

The monthly installment that can be repaid goes up to 1/5 of the net salary or pension.

Assignment of the fifth of the salary

For employees , both in the private and public sector, the transfer of one fifth of the salary is the ideal solution as loans to bad payers. Both those who have a fixed-term employment contract and those who have a permanent contract can apply.

Transfer of the fifth of the pension

Retirees can instead apply for the assignment of one fifth of the pension. This solution is practically similar to that of the salary assignment, with the difference that the monthly installment is retained on the amount of the net pension and not the salary. In addition, the minimum pension must also be taken into account in the calculation.

Who can request them?

  • public, ministerial and private sector employees
  • employees with fixed-term contracts
  • retired with retirement pension

If you belong to one of these categories, ask for a quote for the transfer of the fifth of the salary.

Delegate loans, or double fifth

Delegation loans , also known as double fifths, are another of the bad payer loan solutions. As you can guess by reading the name, these loans allow you to pay a maximum monthly installment double that of the assignment of the fifth (therefore up to 2/5, that’s why they are also called double fifth loans). They can usually be requested by permanent employees, due to the greater stability of the workplace. These loans must, by law, also be accepted by the employer. On the contrary, the employer cannot accept or not a simple assignment of the fifth, for which the final decision is always of the bank.

Who can request them?

  • public, ministerial and private sector employees

If you belong to one of these categories, ask for a proxy loan or double fifth.

Loans changed

Loans with promissory notes , also known as promissory notes, are another classic form of loan for bad payers. The basic prerequisite, in this case, is the signing of bills of exchange, or of the executive securities with which the financial company can easily repossess any sums not reimbursed by the customer.

The advantage of this form of financing is linked almost exclusively to the fact that even bad payers without particular guarantees or self-employed bad payers can have access to credit. Keep in mind that this should be the last resort for bad payers, as interest rates are usually higher.

Here are some of the companies that provide changed loans in Italy:

  • Loans with bills Mas
  • Loans with Teoremafin bills
  • Loans with Prestimarket bills

Who can request them?

  • employees
  • retirees
  • self-employed

Pawn loans

Pledged loans are the latest form of financing for bad payers. They are characterized by the fact that it is necessary to provide an object in pledge in order to have the corresponding cash value in exchange. The advantage of this form of loan is that virtually no other collateral is required, given that a valuable asset is provided as a counterparty. Among others, gold, silver and diamonds are usually accepted.

Who can request them?

  • employees
  • retirees
  • self-employed

Loans online

Loans online

Online loans are one of the ways in which you can apply for loans for bad payers. In practice, these are financing solutions that can be requested directly via the internet, 24 hours a day and comfortably at home. The benefits also include lower interest rates compared to personal loans requested “off line”, since online companies have less costs to cope with and that the paperwork required for online financing is usually lower and everything is leaner and faster. It is no coincidence that online loans are also called fast loans.