MonthApril 2019

Direct lender payday loans online -Get fast electronic payday loans

Do you want to take out a loan? This does not have to be a drawback. Read here if you are also able to borrow quickly and easily!

For some loan providers on the market, the problem is if you do not have a job and therefore can not show a pay slip or contract. The reason that loan providers ask for these papers is that they run a lot of risk in these times of economic crisis. However, this is not always necessary, for example when a provider only offers small loans. Nowadays there are also loan providers that offer loans on the internet, the so-called online loans. This new way of borrowing is on the rise and perhaps also ensures that you can get money quickly without a job!

Get fast electronic payday loans

A special feature of these loans is that your loan application is made entirely online. That means that you do not have to leave the door and that no papers come to look at it. Borrowing online also has the advantage that your application is always dealt with immediately so that you can quickly dispose of the money. In addition to making online purchases and booking your holiday online, it is now also possible to arrange your money affairs online. Applying for an electronic payday loan with a few simple steps at OnePayday is possible at any time of the day and generally only takes 5 minutes!

Taking out a loan and conditions of online loans

Of course, as with any other loan provider, there are conditions that you have to take into account when you want to take out these loans. For example, it is very important that you have an amount of income, but it does not matter what they consist of. So not only salary but also a benefit, health care allowance or student finance, enable you to get money quickly. You can also borrow without a job! Another requirement that is important is that you must be at least 21 years old for these loans. When you take out a loan on the internet, always read the terms and conditions carefully in advance so that you do not end up with surprises.

Taking out a loan when you are on the blacklist

Another aspect that often throws a spanner in the works when you want to take out a loan is the blacklist listing. You will find a blacklist listing if you have had payment arrears in the past and have been notified of this at the National Bank Belgium. Many loan providers do not grant loans to people who are blacklisted and carry out a blacklist check. Fortunately, there are also loan providers that omit this check, such as the online loan providers.

Also with a blacklist listing, it is, therefore, possible to borrow from providers of online loans. Furthermore, these loans are also very accessible in other areas, so no job for taking out a loan is not a problem!

Early Repayment of a Home Loan?

As its name indicates, the early repayment of a loan means the fact of completing in advance the partial or total repayment of the maturities of a loan. This is called partial prepayment or full prepayment. The terms and fees applicable in this area are framed by the Consumer Code and the Lagarde Act.

Maximum penalties

loan

Consumer loans and mortgages can both be subject to early repayment. The conditions of indemnification of the early repayment differ according to the type of loan. For consumer loans, for example, the Lagarde law sets the early repayment amount at 10,000 € per year, from which a financial institution is authorized to apply penalties. The amount of the penalties varies according to the banks, the latter are defined in the loan agreement. The consumer code sets the conditions for early repayment of a home loan. The prepayment costs of a mortgage can not exceed the equivalent of 6 months of interest on the sums already repaid and must never exceed 3% of the outstanding capital. By these provisions the legislator establishes a maximum penalty threshold in case of early repayment. The law allows financial institutions to set the minimum prepayment threshold at 10% of the total loan amount. In this regulatory framework, the penalty clauses are completely negotiable with your bank in the signing phase.

It is more than advisable to do the accounts before making full or partial repayment of loans. First reason and we have just seen, if the amount of penalties is greater than the amount of interest saved the transaction does not present, on a purely accounting basis, absolutely no interest. Secondly, and in an unlikely scenario where the rate of inflation would exceed that of the loan interest rate, there would be no benefit to be paid in advance since the property acquired with the loan would be more valuable thanks to inflation. than the capital remaining due. Finally, in the case of financing made with several loans, including a loan at a zero rate or a reduced rate, the financial institution may choose to allocate prepayments on a loan in priority.

The early repayment of a loan makes it possible in any circumstance to reduce its debt ratio. If the amount of interest saved is greater than the amount of the costs incurred then its benefits are beyond doubt. The higher the interest rate on a loan, the more the borrower will benefit from the effects of early repayment. At the same time, it makes it possible to reduce the loan term.

 

Personal Loans and Their Characteristic

Personal loans are one of the financial products that are sold the most in both private equity companies and banks of all life. However, many clients do not fully understand how it works. For this reason from Lenders we want to explain what personal loans and their characteristics are. Would you like to know more about this topic? In that case, continue reading the next post.

What personal loans are and how they work

What personal loans are and how they work

When we talk about personal loans we do it to refer to that financial product by which a credit institution offers an amount of capital to a user. The borrower The agreement obligates the borrower by contract to return the borrowed amount plus an interest rate based on the risk of the operation. The expenses deriving from carrying out said financial operation are also usually included in this amount.

What are the characteristics of personal loans

What are the characteristics of personal loans

Today in the market there are a variety of personal loans. This great diversification offers customers a large number of offers. Although until a few years ago it was an almost exclusive product of banks, the outbreak of the crisis opened the market niche. Currently private equity companies and private lenders also offer personal loans.

And precisely because of the large number of offers it is important to value this product well before contracting it. The recommendations of the Lenders experts in this regard are clear. Before deciding on one or another personal loan it is important that you pay attention to the following aspects :

  • The interest rate This value is the price that the credit company marks in exchange for lending you the money. You can check both the TIN (Nominal Interest Rate) and the APR (annual equivalent rate). To truly know what expenses our personal loan brings, it is best to study the APR, since it is a much more complete value.
  • The commissions that the product includes. These can be opening and cancellation. Within the cancellation fees there are companies that charge for partial and total cancellation.
  • Possible associated expenses.
  • Amount that we must pay each month. This will be calculated based on the selected repayment term and the APR of which the loan is available.
  • Amortization term.

The guarantee within personal loans

The guarantee within personal loans

Any loan that we request must offer certain guarantees to the lender that we will be able to return the amount along with the interest. In the case of mortgages, for example, it is the home itself that we acquire that acts as collateral for the loan. But what is it that serves as collateral for personal loans? Well, there goes the surprise: all your assets, present and future, will serve as collateral in case of default. What does this mean? That if at any given time you stop paying the fees due to lack of liquidity, the credit company will have the right through the courts to seize the accounts and get the money you owe.

The problem with this formula for the lender is that said assets may be higher or lower depending on the borrower. Therefore, the default risk assumed by the credit companies is greater. Due to this characteristic, the interest rates are higher and the amortization periods are usually shorter than those of other types of loans. For example, mortgages.

The purpose within personal loans

personal loan

As a general rule, the purpose for which the capital is requested is usually relevant for credit companies that grant personal loans. Although it does not have to be a problem with the reasons that lead you to ask for a loan, it is true that they will be weighed. That is, if you ask € 5,000 to buy a dishwasher, the logical thing is to be denied. Basically for lack of coherence. Therefore, the amounts that are requested must be proportional to the type of expenditure that we want to make.