Archive | January 2020

Make a loan repayment simulation: it’s handy!

You need a credit redemption with cash but you want to see a loan repayment simulation before. In fact, when an early repayment of a home loan, 3% of the repaid capital is due to the bank in prepayment penalties. Other fees are added to the loan application.

Get a credit redemption simulation

Get a credit redemption simulation

You want to collect all your credits (mortgage, consumer loans, personal loans, money reserves and overdraft). On the amortization table of the various loans, you will raise the remaining capital due after the last monthly payment.

For home loans and work loans

It will be necessary to add to this amount (capital remaining due after the last due date) a prepayment penalty of 3%. It is limited to 6 months of interest but as a precaution, we always retain 3% in the simulation.

For consumer credits

It will be necessary to add 1% to the outstanding capital only if the amount to be refunded is greater than 10 000 USD (reduced to 0.5% if the credit ends in less than 12 months). For money reserves also called revolving, there is no prepayment penalty regardless of the amount.

Once the amounts shown in the simulator, the loan repayment simulation is displayed indicating: the amount borrowed including the fees, the new monthly payment and the rate.

The grouping of real estate loans

The grouping of real estate loans

It can be very interesting to consolidate real estate loans, despite the prepayment penalties to add because you get very low fixed rates. It will be enough to make a simulation of mortgage loan on a duration equivalent to that which you have left to realize the reduction of the monthly payment obtained.

The consolidation of consumer credit

The consolidation of consumer credit

The main interest is to reduce your debt and adapt the new monthly payment to your borrowing capacity in order to rebalance your budget. A pooling credit simulation immediately indicates the realized gain. The rate is also reduced and much lower than the rates applied for money reserves of course.

You ask yourself: how to get a credit redemption easily? We will respond to you immediately using a loan simulator. We study all possibilities with you. Then, we take care of everything for you (interrogation of the various specialized banks, follow-up of the file and setting up). It’s simple and easy.

This entry was posted on January 23, 2020, in Uncategorized. Leave a comment

When is a forward loan worthwhile?

When a forward loan pays off depends largely on the development of mortgage interest rates. If an increase in interest rates can be expected in the near future, the forward loan should not be waited too long. On the other hand, if interest rates rise only to a very small extent, one has to calculate: When will the interest premium payable be amortized by the rising interest rates?

 

Forward loan

Basically you can get a forward loan small up to 5.5 years before your current loan ends

Basically you can get a forward loan small up to 5.5 years before your current loan ends

It is often recommended from a point in time of 36 months before the end of your fixed interest period, because then the development of the interest rate can already be determined more precisely. If rising interest rates are expected, the conclusion of a forward loan can also be worthwhile earlier. In this way you can secure the currently low construction interest rates and at the same time receive interest security.

When deciding on a forward loan, the interest surcharge to be paid should be taken into account. This mainly depends on the length of the waiting period between the conclusion of the loan and the end of the current rate fixation. One can start from the rule of thumb: the longer the waiting time, the higher the interest premium on the forward loan. Our forward loan calculator shows you what debit interest, including interest, can be expected.

Length of the fixed interest rate

Another point that can influence the amount of the interest premium is the length of the fixed interest rate

Another point that can influence the amount of the interest premium is the length of the fixed interest rate

The following applies: the longer the fixed interest rate for the new loan is, the more expensive the interest rate becomes. If the forward loan is taken out with a fixed interest rate of 10 years, the interest premium is less than with a loan with a fixed interest rate of 15 years.

If you are looking for suitable follow-up financing, you should get offers in good time – this guarantees you the best possible comparison. Our on-site consultants will be happy to find out whether and when a forward loan will be worthwhile for you in a personal conversation with you. You have a close look at the current interest rate development and are looking for the right offer from our large number of banking partners.

This entry was posted on January 22, 2020, in Uncategorized. Leave a comment

Credit for dental expenses.

At the dentist, patients pay both the costs of the dentist’s individual health services that are not covered by the health insurance company, and personal contributions for dentures. Private patients can exclude dental treatment from the scope of insurance, but this is neither useful nor is it often used. With the exception of the costs of simple IGeL services, almost all privately paid dental bills require borrowing.

Installment payment at the dentist

Installment payment at the dentist

Most dentists do not invoice their patients themselves, but through a dental service point with their patients. Most of the corresponding agencies offer payment in installments by sending their invoice, but the duration is limited to six months. Patients can accept the offered installment payment by a simple statement or ask for an extension of the term to a maximum of one year.

If repayment is desired over a longer period of time, they will have to take out a loan for the dentist’s costs. The few dentists who do not settle through a service center also grant their patients payment in installments of six to twelve months at their request.

Use the disposition loan for the dentist bill?

Use the disposition loan for the dentist bill?

In many cases, the disposition credit is sufficient to pay the patient’s share of the dentist’s bill. However, its use is not recommended unless the account can be settled within a few months. The reason is that using the overdraft facility as a loan for the dentist’s costs leads to above-average interest rates. In addition to the higher interest rates compared to an installment loan, compound interest accrues when using the overdraft facility, since the interest amounts already paid increase the debit balance of the checking account.

Paying the dentist’s bill with a credit card and then using the installment facility is also not recommended, as the interest will be even higher than for the overdraft facility.

Find a cheap loan

Find a cheap loan

The least expensive loan for dental expenses is if it is taken out as a normal consumer loan or as a personal loan. When borrowing online, consumers do not have to state that they need the loan to pay a dentist’s bill. If borrowers with poor credit ratings have been denied the loan on the Internet and they personally contact a bank, the intended use of the dentist’s costs may well be the decisive factor in the approval of the loan officer for the loan.

This is based on its discretion and the preferential promotion of urgently necessary health measures over mere consumption. On websites for the mediation of loans between private individuals, requests for a loan for dental expenses can also be found with an above average number of lenders in a short time. On the relevant platforms, specifying the purpose of a loan is an important decision criterion for private lending.

This entry was posted on January 16, 2020, in Uncategorized. Leave a comment