How do you buy back credits?

With the accumulation of your credits, the end of the month is difficult? Would you like to carry out new projects but are you already in debt? We have the solution!

Have you ever thought about buying credits? How it works? Good Lenders Finances is here today to explain everything to you.

 

Why to redeem credits?

The repurchase of credits also known under the name of grouping of credits makes it possible to join together several loans in progress to form only one.

Between consumer loans and home loans, monthly debts can occupy too much space. Redeeming your credits is then a solution to take control of your budget!

By varying the duration of your loans, your different rates and the amount of your insurance, this operation offers you a reduction in the amount of your credit.

But what are the advantages of a credit retrieval?

  • A single new monthly payment adapted to your situation
  • A new renegotiated rate
  • One insurance contract for your new loan
  • A single contact
  • The possibility of creating cash to give life to your new projects

 

Who is the credit grouping?

credit grouping?

To all people with several credits and wishing to balance their budget.

Owners, tenants, singles, retirees … This solution adapts to everyone’s needs.

Whether you want to collect all of your credits or only a part, your advisor will find the right formula. So find out now how to redeem your credits in three steps!

 

The steps of the redemption credits

credit loan

First of all, we advise you to gather the documents necessary to your request to optimize your time:

  • ID or passport
  • RIB
  • proof of address less than three months old
  • latest monthly account statement
  • last salary slip + bulletin for the month of December
  • employment contract
  • for the self-employed: latest tax notice or tax package

First step: preparing the dossier

The first part of the consolidation can be done entirely online or by phone call. In this first step you describe your request by filling in some initial information.

Credit redemption simulation tools are then available to you to verify your eligibility and send or not a request.

At Good Lenders Finances, the questions asked allow you to have a first idea of ​​your project: your real estate situation (owner or tenant), the total of your monthly payments, your capital remaining due.

Second step: contacting

Once your file has been sent, an advisor will quickly contact you.

Together, a new assessment is made on your expectations, your needs, your financing capacities, your projects … An overview of your wishes by grouping your credits.

Your advisor will then offer you a new financing situation, including if you request, your new cash flow.

And then? You just have to wait, your advisor will find the best offer for you.

Third and final stage: the finalization

Your new contract is ready, all you have to do is sign it! After making a final point on your new conditions (amount of monthly payments, repayment period, total amount of the new credit), your new life can finally start with a whole new budget.

And your cash? Its amount is paid directly into your bank account.

You can now take advantage and fill up on new projects thanks to your new balanced budget! Do you want to know more? Our team is there to answer all your questions.

Can you get a zero rate loan this year?

The PTZ + was launched in April 2009. Its purpose was to allow property buyers to borrow without interest. The state, therefore, assumed the costs of the credit, and individuals could, therefore, buy their main residence at a lower cost.

From economic crises to budgetary tightening, access to the zero-rate plus loan has hardened in order to save on public spending. Year after year, the PTZ + is still resisting the rigors of economic times and continues to exist in 2019. A quick tour of what will have to be done this year to benefit from it.

Not to be an owner, or else …

Not to be an owner, or else ...

Not owning

The PTZ + is intended for first-time homebuyers . The borrowers must not have been the owner of their main residence during the 2 years preceding their application. However, they may have owned rental property.

Exceptions to the rule

There are exceptions to the first-time buyer rule.

First of all, people with a disability card who are unable to exercise a professional activity are entitled to the PTZ + even if they are already owners.

The same rule applies for people educating a disabled child, or benefiting from the Disabled Adult Allowance (AAH).

Finally, the owners who had to leave their main residence because of a natural disaster , also derogate from the first accession rule. Please note, however, that the residence must have been made uninhabitable following a disaster.

Do not exceed the resource ceiling

bank

Resources taken into account

Resources are taken into account in the context of a PTZ + request, by comparing 2 calculations:

  • We take the total cost of the operation, and divide by 10.
  • We add the tax revenues of 2 years ago, of all the people intended to occupy the accommodation.

The higher of these two amounts represents the figure taken into account to determine whether the applicants’ resources do not exceed the PTZ + ceiling.

PTZ + 2019 resource ceilings

Choose the right accommodation

PTZ + and new housing

The zero plus rate loan can be used to finance new housing, provided that the home obtains one of these two energy labels:

  • Thermal Regulations 2012 ( RT 2012 ).
  • Low Consumption Building 2005 (BBC 2005 ).

For information, all real estate programs for which the building permit was obtained from January 1, 2013, must be in RT 2012.

PTZ + and old housing

It is possible to finance an old home with a loan at zero plus rate. The borrower will however have to respect two imperatives:

  • That work is necessary.
  • Whether this work leads to obtaining the HPE renovation 2009 or BBC renovation 2009 label.

More clearly, it is possible to use a zero-rate loan plus version 2019 to transform a room into housing.

But it is also possible to carry out certain works, without leading to obtaining the label HPE renovation 2009 or BBC renovation 2009. For this, it is necessary to carry out at least 2 categories of work among the following list:

  • Installation of insulating windows .
  • Insulation of the roof .
  • Insulation of exterior walls .
  • Installation of an efficient heating system.
  • Installation of efficient domestic hot water production systems.

Amount of PT Z plus 2019

Ceiling on zero-plus loan in 2019

The amount of PTZ plus in its 2019 version is limited to a percentage to be applied to the cost of the project. The cost of the project includes only the price of the property and the negotiation fees. Notary fees and transfer duties are not included in the calculation.

Project cost cap for PTZ + 2019

In addition to a maximum percentage to be applied to the cost of the project, there is an amount beyond which the percentage does not apply. This amount is determined according to the implementation area, and the number of people intended to occupy the accommodation.

How to get a zero plus rate loan in 2019?

money

The service of Good Finance

Good Finance real estate loan brokers help you build your PTZ + application package. They start by verifying that you meet the conditions for homeownership and income limits.

Then they determine what will be the maximum amount of the zero plus rate loan, based on the criteria mentioned above. Once this first approach has been carried out, the brokers will negotiate the terms of repayment of the PTZ + with the lending bank.

Because it must be remembered that if buyers of the property meet the conditions for obtaining the loan at zero rates, the bank does is not obliged to grant it to them. Exactly as in the case of a paying loan, the banker will study the creditworthiness of the borrowers. It is the broker’s role to present the case of his clients from the right angle.

Pay off a zero plus loan

It is, therefore, the same bank that grants the mortgage and the PTZ +. The installment of the monthly payments of a loan at zero rates depends on the income of the borrower, according to a scale published by the State. It is possible to repay a loan at zero rates over a period ranging from 12 years to 25 years.

If the applicant’s income is average, it is possible to defer repayment of the loan at zero rates. This provision allows people with a limited borrowing capacity to still own their principal residence.

Consider These 4 Things Before Applying for a P2P Lending Loan!

P2P Lending Loans – In developing a business is certainly not easy, developing a business is not just relying on an idea it has, there are many aspects that you need to develop to make and your business grow. One of the most important aspects is venture capital.

In this venture capital sometimes becomes an obstacle, because to get venture capital it requires extra effort from preparing the requirements file, coming to the place of submission, not to mention it turns out that all the requirements you have prepared have not met the requirements for the submission.

Therefore, with the advent of financial technology (fintech) that facilitates the process of financial transactions, it can be your choice in applying for a more modern and simple business capital loan.

 

New P2P Lending System Loans That make and It Easier To Get Business Loans!

loan

This P2P Lending loan is actually in Indonesia still relatively new. The P2P system itself brings together lenders and borrowers through a platform. All the processes carried out on this P2P Lending loan are carried out online, the lender and the borrower do not meet each other. Besides that you as a borrower can apply for a loan without using collateral.

But before applying for a loan with P2P lending, you must know the safe tips first!

 

Be sure to Apply for Loans That Have Been Registered by OJK!

Loans apply

By applying for an online loan, the risk is greater than fraud and the like. Therefore it is important if you apply for a loan to a platform that has been registered and overseen by the Financial Services Authority (OJK) in the loan application process, you must makeand sure to whom you apply for a loan, whether the platform you choose is convincing or even vice versa.

 

Borrow as Needed

borrow money

Most people apply for large loans without thinking about how he makes the repayments, how the interest continues and so on. This is found very often and this habit must be changed so as not to create new problems for him.

To get around this you can borrow according to the needs you need. OJK also provides input so that the maximum loan size is 30% of income. The goal, is to facilitate them in paying installments.

 

Do not Dig a Hole & Cover the Hole

loan application

This is also the most commonly found and becomes a bad habit. Many are confused about how to pay the installments they have, after that he even applied for another loan to pay the installments, which they initially thought by making other loans they could extend their “breath”. Though things like this actually create new problems for him.

Make installments your main priority when you get funds, this is done to resolve the debt and not ensnare us later.

 

Pay off installments on time

On time! Whatever you do, you should be able to be on time as well as repayments and bills because by making payments on time you will feel calmer and your burden can be reduced. If you do not make and payments on time, it is not impossible that you will be fined in your bill.

To get around this you can make a reminder on the calendar for installment payments.

With the convenience provided by P2P Lending loans, it certainly helps entrepreneurs who need business funds quickly. But remember, you must also pay attention to the aspects above so that your loan process can run smoothly.

How to get rid of debts? Advice from banks

Faced with an accumulation of debts, everyday life can quickly become hell. Having a critical financial situation can have consequences on your health: stress, anxiety, etc. Getting debt free quickly is therefore a priority. Before arriving at a situation of over-indebtedness and risking being stuck in the Best Bank, solutions to repay its credits exist. Good Lenders Finances helps you to see more clearly by proposing its methods to free you from your personal debts.

 

List the debts

debt loans

This is the first step to take to free yourself from your financial problems. It is essential to take stock of what remains to be reimbursed in order to step back and find solutions.

Compare your debts (interest rates, amounts, durations), classify them from the most important to the lowest. This will allow you to start organizing an action plan to pay off minor debts and alleviate major debts. The important thing in this step is to plan your repayment capacity on the upcoming deadlines. For this, you must also analyze the movements and the maintenance of your bank account. Any reimbursement incident that could have serious consequences on your budget (penalties, additional costs, etc.)

 

Renegotiate your credits

Renegotiate your credits

It is indeed a rather effective method to pay off debts quickly. What costs the most when you take out a consumer loan, a mortgage or simply a loan to buy a new car for example, is the interest rate applied. It is therefore this lever that you must activate as a priority by renegotiating your loan. Also, if your personal situation allows, negotiate with your lending institution the duration of your loan. Thus, you can reduce the duration of your debt and quickly find better management of your budget.

 

Make sorting and sell your unused goods

Make sorting and sell your unused goods

To free yourself from minor debts, it is entirely possible to consider the resale of movable goods: your household appliances that sleep in the garage, unused or broken vehicles that will delight DIY enthusiasts, or any computer equipment still in use. good working condition. If the sums obtained by the sales seem tiny compared to the total accumulated debt, they can however be the subject of a reimbursement of a small consumer credit for example.

 

Rearrange your budget

You may not be aware of it, but very often over-indebtedness or unprofessional debts come from poor budget management. To prevent as well as to remedy a difficult financial situation, flattening all your expenses is a formidable method. List your monthly expenses, separate them into two parts: essential (electricity, insurance, food, etc.) and dispensable (various subscriptions for example). You will understand, eliminate the superfluous. Prefer the practice of a free outdoor sport, to an expensive indoor subscription. Regarding your essential expenses, compare the market offers and see if by changing your insurance or telephone plan, you could not make any real savings. Also pay attention to your daily expenses and the use of your credit card, please the useful over the unnecessary.

 

Consider debt consolidation

Consider debt consolidation

It is indeed a serene solution to free yourself from debts gently without harming your purchasing power. Quite the contrary. The advantage of buying credit is to reduce your overall debt in a single monthly payment. You only pay one monthly payment more in line with your repayment capacity. At Good Lenders Finances, we are well aware that life involves unforeseen events such as the arrival of a new child, the replacement of a car or substantial health costs. This is why our advisers accompany you and build with you your credit consolidation file in coherence with your personal situation and your needs. In order to offer you the best chance of obtaining a favorable response from our banking partners. If additional financing is needed, cash can be added and thus avoid taking yet another consumer loan. 

Home loan rate increases slightly

As might be expected, rates did not increase much, 76.6% of mortgage loans granted in November 2019 were below 3.5%. We note, however, that the gap is widening between the nominal rates granted for new and old real estate.

The cost of financing has logically increased slightly, although this has not slowed the market, as the number of signed loan contracts increases by 9.9% over one year. So it’s always a good time to buy, especially because the amount of intake required is decreasing.

Home mortgage rates up slightly in November 2019

Home mortgage rates up slightly in November 2019

Plus 0.4% on average

In October 2019, the average mortgage rate was 3.07%. In November 2019, it rose to 3.11%, which represents a slight increase of more than 0.4%.

Disparities between new and old

In October 2019, mortgage rates were almost identical for new and old, with an average of 3.08% and 3.07% respectively. In November 2019, the gap widened since households borrowed 3.04% for new, and 3.11% for old.

202 months average reimbursement

The home loans taken out in November 2019 were for an average term of 202 months or 16.8 years. It is interesting to note that compared to November 2012, the amount of home loans increased by 19.1%. 31.5% of the credits were granted over a period of 15 years to 20 years, 29.2% will be reimbursed from 20 years to 25 years, 17.6% will last from 25 years to 30 years. The share of mortgage loans repayable over 30 years represents only 0.4%. As for the short-term loan, that is to say over less than 15 years, it represents 21.2%.

These statistics are almost unchanged compared to October 2019.

3.89 years of revenue to pay the cost

On average, November 2019 borrowers will need 3.89 years of income to pay the cost of their mortgage. In October 2019, this figure was 3.79 years, the increase is most certainly explained by the slight variation in upward rates.

Details on these figures

Only real estate purchases were taken into account. In an effort to bring out exactly the state of the market, credit repurchases, bridging loans and mixed loans (new purchase + repurchase) were not taken into account.

More and more home loans granted

More and more home loans granted

9.9% more home loan this year

In November 2019, it was granted a 9.9% more home loan, compared to November 2012. Again we are talking here only about real estate purchases, these figures, therefore, highlight the good health of the financing housing.

Reasons for success

It is quite simply the low real estate rates that explain this good behavior of the market. In 2012, 42.3% of mortgage loans were granted at less than 3.5%. In the second quarter of 2019, the average rose to 87.8%, twice the rate for all of 2012. It is important to remember that household wages have not increased, but their main concern still becomes the owner of their home.

Future mortgage loan rates

It makes sense that mortgage lending rates continue to begin their slow recovery. However, they should stabilize shortly, given the efforts of the European Central Bank to allow banks to refinance at a lower cost. It is, therefore, time to buy, especially since there is a slight drop in prices in old real estate.

How to become an owner in December 2019?

bank

Personal contribution

The survey carried out by the CSA / housing loan observatory shows that the average personal contribution decreased by 4.6% compared to November 2012. This is quite simply explained by the low rates.

If it is always advantageous to have a personal contribution, it is not always necessary. Some banks and credit companies will ask borrowers to pay the notary and guarantee fees themselves. This provision allows lenders to commit only to the value of the property acquired.

However, certain households whose professional situation is promising and the debt ratio very low can borrow without contribution.

The professional situation

The overall conditions remain unchanged: contract of employment in CDI, or in CDD / interim for two consecutive years without interruption, or activity of auto-entrepreneur with two years of positive assessments. However, we observe that banks and credit companies are much more attentive to the companies in which applicants work.

The borrower debt ratio

Whatever the professional situation of the borrowers, the banks will not exceed 33% of the future debt ratio. To calculate it, they refer to net taxable income, then take into account the current monthly payments of the applicants and add the monthly payments of the future home loan. The income/debt ratio should not exceed 33%. To determine if you are in the right bracket, use our debt ratio calculator.

Understanding the costs related to the mortgage

A household arriving alone in front of a bank or a credit company has every chance of mistaking the cost of its mortgage. The rates described above are the nominal rates, not the overall effective rates. The overall effective rate (TEG) takes into account all the expenses relating to the loan.

Borrower insurance, guarantee or mortgage, notary fees, brokerage fees, and others must be taken into account in the cost of a home loan. The role of a broker is to dissect loan proposals in order to better explain them to his clients. The broker is an Intermediary in Banking Operations and Payment Services (IOBSP), he does not work with a single establishment but with several of them.

It is, therefore, able to bring competition into play, to ultimately obtain the best conditions for its customers. Specifically, “better conditions” does not necessarily mean better TEG. There are many other things that come into play in a good home loan contract, including plans to resell or move borrowers in the future. If borrowing becomes easier thanks to low rates, it should not be forgotten that a mortgage loan can contain its pitfalls.