vnptbiz.com / My WordPress Blog Mon, 02 Mar 2020 13:45:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.5.3 Mortgage loan: Can we borrow while earning the minimum wage? /mortgage-loan-can-we-borrow-while-earning-the-minimum-wage/ Mon, 02 Mar 2020 13:45:57 +0000 http://www.vnptbiz.com/mortgage-loan-can-we-borrow-while-earning-the-minimum-wage/

On January 1, 2018, the minimum wage was automatically increased by 1.24%, going from 9.76 USD to 9.88 USD per hour, to reach 1498.5 USD gross per month, regardless of where we live. Capital lender calculated real estate purchasing power with the minimum wage in 12 cities in France and its evolution compared to 2010. Can we borrow while earning the minimum wage? What can people who earn the minimum wage buy? Study by Max Browne.

On January 1, the Smic was, in fact, upgraded by 1.24% to reach 9.88 USD gross per hour against 9.76 USD gross in 2017, i.e. 1,498.5 USD gross monthly (around 1,150 USD net against 1055 USD net in 2010). If we compare compared to 2010, the increase is only $ 1 gross ($ 8.86 gross / hour) or 12% … An increase which seems very small in view of the rise in prices of housing in particular. In 2017 alone, according to the Notaries of France, apartment prices increased by 5.1%, much more than the recent revaluation of the minimum wage by 1.24%…

Halved rates and 41% increase in borrowing capacity

Halved rates and 41% increase in borrowing capacity

However, in a context of falling rates, borrowing capacity with the minimum wage has increased since 2010 by 41%, going from $ 66,300 to more than $ 93,500, the rates having been more than halved. Indeed, credit rates have gone from 3.95% to 1.80% on average over 25 years, excluding borrower insurance.

Charge jump and remainder of life studied under a magnifying glass

Charge jump and remainder of life studied under a magnifying glass

“45% of our customers have incomes of less than $ 25,000 per year, and for 35% of them they are young people under the age of 30. It is therefore possible to borrow with income equivalent to the minimum wage provided that you do not have too high a debt ratio, ideally below 33%. Beyond the salary, the banks will study the charge jump, that is to say the surplus that the borrower will have to pay over his rent to repay his loan, and the remainder, which corresponds what he has left after all current charges have been deducted from salary, ”explains Max Browne, Director of Bank Relations at Capital lender.

From small studio to large T2

From small studio to large T2

Given the prohibitive prices charged in Paris, a person earning the minimum wage unfortunately cannot find accommodation in the capital. Note that prices have soared by 39% in 7 years, going from 6,434 USD per square meter in 2010 to 8,940 USD in 2017. Possibly possible for a single person but too small for a household earning a single minimum wage. On the other hand, the Rouennais earning the minimum wage can seek a 44 square meters, the Grenoblois a 43 square meters, the Marseillais a 40 square meters, the Strasbourg residents a 37 square meters, the Rennais a 39 square meters, the Toulousains a 36 square meters , the Nantais a 35 square meters, the Lille a 31 square meters, and the Clermontois earning the minimum wage can afford a 56 square meters.

10% contribution, rate at 1.80% over 25 years and monthly payments of less than 400 USD

10% contribution, rate at 1.80% over 25 years and monthly payments of less than 400 USD

It is therefore possible to buy in 11 cities in France (excluding Paris) with the minimum wage in 2018 of areas between 26 and 56 square meters depending on the city, for a monthly payment equal to 33% of the minimum wage, or 387 USD. This allows the repayment of a credit over 25 years at 1.80% with 10% contribution to finance the various costs. FYI, in 2010, the monthly repayment capacity, under the same conditions was 348 USD for people receiving the minimum wage.

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Very fast financing even though you are in Financial Credit Institutions /very-fast-financing-even-though-you-are-in-financial-credit-institutions/ Thu, 16 Jan 2020 13:34:19 +0000 http://www.vnptbiz.com/very-fast-financing-even-though-you-are-in-financial-credit-institutions/

What are loans with Financial Credit Institutions?

What are loans with Financial Credit Institutions?

The loans with Financial Credit Institutions, are a financial product that allow the applicant to obtain money in their account almost immediately. Given that the financial entities dedicated to offering this type of services, approve the request, in a period of less than 24 hours.

A fundamental characteristic of this type of credit is that the amounts granted are low, to ensure that the applicant can make payments on time. Thus avoiding delays that can generate serious legal and financial consequences for the debtor.

This type of financing allows the applicant convenient and practical options to make the payment of the fees established in the contract, the most widely used are bank transfer and credit card. In relation to the return time, it must be said that each company has the power to choose the period that it will give the debtor to make the return. However, companies generally estimate a maximum period of 90 days to execute the total refund.

Advantages of credits with Financial Credit Institutions

Advantages of credits with Financial Credit Institutions

Generally, urgent online credits have a wide list of advantages, among which convenience, speed and security stand out. Fast loans, unlike traditional credit systems, rely on technology to offer the applicant the possibility of fulfilling the requirement without having to mobilize, saving time and effort. Also, being credits intended to solve urgent money problems, companies have designed a really fast allocation structure. Thus, if the credit is approved, the person will be able to receive the money in their account practically automatically.

Another benefit of this type of tool is the security it offers to the interested party, since all the procedures are carried out through a secure platform, which guarantees and protects the information provided by the applicant.

What is the procedure to request a credit with Financial Credit Institutions?

What is the procedure to request a credit with Financial Credit Institutions?

When applying for credit, the person tends to focus his interest in obtaining the money, downplaying a key element, such as the ability to pay that he has. So, before applying for a loan, it is very important to be sure that we have a financial guarantee that allows us to promptly meet the scheduled payments. Once this is clear, requesting a quick credit will be easier than you imagine, since the procedure is easy and the requirements are very few. If for some reason you are or have been included in a list of defaulters, but you must solve an urgent liquidity problem, personal loans with Financial Credit Institutions are the perfect option.

The application procedure can be completed in a few steps, the only thing you need to formalize the request is to have on hand a device with internet access and the documentation required by the financial institution. The process is completely online, so you do not have to worry about the hours of service, since at any time you can enter the provider’s portal and complete the application.

The necessary requirements to process the allocation are, to correctly fill in the form offered on the financial entity’s web portal, to present documentation that confirms the possession of constant income, an active mobile phone number, a bank account in which the Applicant appears with holder and be of legal age. Once the applicant submits the requirements, the company proceeds to verify the information and if everything is in order, the approval is carried out. Subsequently, the client receives the money in his account without any setbacks.

What are the main reasons people request fast credits?

What are the main reasons people request fast credits?

Generally, the interested parties decide to apply for a loan when they must resolve an emergency or repair that is not foreseen, such is the case of an illness, repairs either to the home or car, or to take advantage of a certain opportunity. Taking into account that no one is exempt from experiencing a broken pipe at home that puts the safety of the home at risk or an unexpected crash that affects the proper functioning of our means of transport.

Likewise, people opt for urgent online credits, when they must make scheduled disbursements that cannot wait, such as the payment of a course registration, which has a registration deadline. In this way, these types of loans become a great ally.

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What does it mean to have a pre-approved credit? We tell you what you should know /what-does-it-mean-to-have-a-pre-approved-credit-we-tell-you-what-you-should-know/ Wed, 15 Jan 2020 14:03:13 +0000 http://www.vnptbiz.com/what-does-it-mean-to-have-a-pre-approved-credit-we-tell-you-what-you-should-know/

A pre-approved loan is an operation in which financial institutions believe you can apply. It is an instrument that the bank wishes to use for its clients who have a good record and ability to pay. In the case of a pre-approved credit, unlike other financial instruments, it is not the client who requests it. It is the bank that informs the client that it has pre-approved financing and it can manage its approval at any time.

To process a pre-approved credit, it is not necessary to enter numerous requirements, since the institution already has the client’s data. Once you accept the credit, the bank will do the risk analysis to comply with final laws and formalities. Let’s see in detail what a pre-approved credit implies, what you can use it for and what you should take into account before accepting it.

Main characteristics of a pre-approved credit

money loan

As we already mentioned, perhaps the main characteristic of pre-approved credit is that, in principle, it is not you who requests it, but the bank who offers it. However, it is important to clarify that the fact that it is pre-approved does not mean that the result of the request will be satisfactory.

The financial institution reaches the client having gone through different analysis filters. In this evaluation, the bank studies the credit history and verifies that there is financial capacity to fulfill the commitment. In this way, the bank offers the financing, and if the client accepts the offer, the institution carries out the pertinent procedures to see if it finally approves it. So it’s important that you don’t confuse pre-approved with approved.

What to buy with a pre-approved credit?

money loan

As it is a consumer credit, you can use the money for whatever you want. Usually, people use this type of instrument to purchase furniture, home repairs, travel, and to pay for celebrations. It can even be used to finance a purchase or consumption for your business.

What you are going to consume or acquire with the credit must be within the amount established by the financial institution. Interest rates and conditions vary from one entity to another, so you must inform yourself very well on this matter. It is also important that before accepting the offer of a pre-approved credit , you have a clear understanding of the monthly fees you will have to pay and the time it will take you to do so. Failure to inform yourself about these points can lead to uncontrolled indebtedness in the future.

Can you reject me a pre-approved credit?

Can you reject me a pre-approved credit?

As we already mentioned, the fact that a credit is pre-approved does not mean that the bank has or should grant it. In fact, there are reasons and circumstances why the institution may consider that you are not a good candidate to receive funding.

What scenarios could influence rejection of pre-approved credit ?

  • Having lost your job

  • Have credit cards to the limit

  • To be broke

  • Maintain unpaid debts

If you go through any of those circumstances, the bank will consider that it is enough information to deny you the credit.

Easy consumer credits

Easy consumer credits

Easy consumer credit is called this way because it has easy and quick access to the applicant. This type of credit is comparable to those that are granted online. A pre – approved credit also often called easy to consume them credit because they give quickly. However, remember that if the bank offers you the product in a personalized way, it is because it is sure that you can meet the requirements.

You should not confuse easy consumer credits with unsecured credits. The latter are usually very striking because they can be offered at very low rates. If so, you should read all the conditions very well and clarify the terms and doubts you have.

Compare offers in the market

money loan

A pre-approved credit has its advantages and can help you meet personal and even business goals . The important thing is that you have a clear idea of ​​the terms and implications of this type of financial instrument:

  • Credit term

  • Interest rate

  • Amounts of monthly payments to pay

  • commissions

Just as you could obtain a quick approval of the credit, there could be a rejection of it by the banking institution. However, you should know that the market offers you a range of options and offers that can be perfectly adapted to your needs. It’s just a matter of finding the ideal credit!

What does it mean to have a pre-approved credit? We tell you what you should know

money loan

If until now you have not had access to traditional banking to obtain credits, you should know that at Oriencoop we offer you access to the consumer financing you are looking for.

We have a long history, more than 60 years providing quality, satisfaction and reliability to all our clients. Don’t think twice and intelligently choose the option that gives you full support and excellent care. We have consumer credits that you can use for your personal and business projects. Visit our website or visit any of our branches to learn about our products and benefits.

conclusion

Credits, without a doubt, are one of the best tools to achieve goals, develop and grow at all levels. Therefore, it is worth investigating and informing yourself about financial products that can be useful in your personal or work life.

Do you think that a loan could be used to carry out your projects? Do you have a pre-approved credit and are you hesitating to apply for it? Start your management now and meet your goals!

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How Much Does a Home Loan Really Cost? /how-much-does-a-home-loan-really-cost/ Sat, 04 Jan 2020 14:23:08 +0000 http://www.vnptbiz.com/how-much-does-a-home-loan-really-cost/ For a long time now, with wages rising and the economic situation improving, quite a few people are thinking about owning a home. Of course, not every person can afford to buy a home from their savings, so they often turn to banks or other real estate lenders for a home loan. But how to choose the best deal, what to look for when borrowing?

The annual interest rate is not all

The annual interest rate is not all

Often, borrowing people focus on the size of the annual interest rate (MPN). After all, the lower the percentages, the better? The answer is not simple: neither is it.

The annual interest rate indicates only the interest you will pay the bank. However, in addition to interest, you often have to pay other fees, such as a loan or account administration fee. In addition, there are often other one-off fees: contract fees, notary fees. These not-so-noticeable costs can significantly increase the final amount paid. Therefore, it is important to find other fields in the terms of the credit agreement as well: the total amount payable by the borrower (BVKGMS) and the total annual percentage rate of charge (BVKKMN).

BVKGMS specifies the amount you will repay throughout the term of the loan, including interest and other additional loan fees. The BVKKMN expresses this percentage as a percentage. Some credit-related costs are not included in this amount, but it will tell you how much you will need to repay, much more accurately than just the MPN.

Thus, a lower MPN is beneficial, but other loan-related costs must always be considered. Most lenders have handy home loan calculators on their pages – take advantage of them. Often, in order to attract more customers, lenders lower interest rates but increase other costs. Don’t be fooled and always read all the loan terms and conditions carefully.

What is that interest?

What is that interest?

Interest is not as easy as it may seem. Many understand that this is the fee you pay for the amount of money borrowed from the lender. However, the interest comes in different forms and consists of several parts.

When borrowing for a home, you can choose the type of interest you want to pay: fixed or variable. The latter are composed of the so-called EURIBOR plus margin. EURIBOR is a variable amount that depends on the key interest rate set by the European Central Bank. EURIBOR is currently negative and would be borrowed at 0%.

The margin, meanwhile, is determined by the bank, taking into account the characteristics of the borrower, such as income, financial liabilities and holdings, assets under management, marital status, etc. In most cases, the margins are fixed throughout the loan period. Hence, variable interest would mainly depend on the amount of EURIBOR, which can be converted every 3, 6 or 12 months. Your contributions may change over time as well.

When choosing a fixed interest rate, it is fixed several years in advance. You would be paying steady contributions throughout this period, so you should not be afraid of a sudden increase in your premiums after the EURIBOR change. However, as experts point out, fixed interest rates tend to be higher than floating rates, so that they are usually paid more throughout the life of the loan.

Don’t forget!

Don

As with any transaction, you must always read all the terms carefully before choosing a loan. Take a look at the offers of several lenders and ask them to submit them in a standard form so that you can easily compare and choose the one that suits you best. Once you receive a formal (binding) offer, don’t hesitate to accept it – you can consider and respond to the creditor within 30 days. You can also cancel your loan within 14 days, even after you have borrowed it. You will then need to repay the entire amount issued plus interest accrued during that period.

Please note the terms of the contract, administrative and other additional fees, which, as mentioned above, can significantly increase your refund. Often, the contract fee varies between 1.5-2% of the loan amount, so a $ 100,000 loan can cost you an additional $ 1,500 to $ 2,000. You may want to adjust the terms of the contract at the time you have the loan (for example, to replace the fixed interest rate with floating rates), so look at the cost of changing the terms.

Consider your financial situation and choose between variable or fixed interest. If you can afford to take the risk or think that the loan will not be a major hardship, it is better to choose variable rate and thus have the opportunity to save. If you see that you are borrowing close to your financial capabilities and are afraid that an increased down payment may be a nuisance – borrow at a fixed rate.

The key to borrowing is to properly assess your financial capabilities and not to “jump above the navel”. Defaulting financial obligations can cause a lot of annoyance that will not only affect you financially. Therefore, if you foresee that your financial situation may soon deteriorate or that your future commitment will be too heavy, wait and take a better loan.

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Why is it so difficult to get a loan /why-is-it-so-difficult-to-get-a-loan/ Fri, 27 Dec 2019 14:28:32 +0000 http://www.vnptbiz.com/why-is-it-so-difficult-to-get-a-loan/

Jump to Why is it so hard for self-employed people to get a loan? All the more annoying for him when his laptop stopped working, which you have to answer at the bank to get the loan. It will not be that new to you, especially with the PRis. It is often very difficult to get a loan at all.

What are the difficulties in financing real estate?

What are the difficulties in financing real estate?

How did you set your credit requirements? Do you have any reserves? Lending could already fail. If you have no reserves today to pay the additional costs (notary, land register entries, etc.) yourself, it often fails. 100 percent financing is no longer given as often. She will also put the numbers in another program and what the program tells her is common.

For some financiers there are also credit limits, for example as a private individual without a guarantor, no more than 50,000? You can’t use your husband as a creditworthy person, you can, but he doesn’t count on it because there is no income. In addition there are flat rates that are deducted, e.g. for necessary insurance benefits, additional costs etc.

Anyone who does not receive anything from the savings bank does not mean that they do not learn anything from another house bank.

Why Older People Are So Hard To Get Loans ”40 Plus Portal

Why Older People Are So Hard To Get Loans ”40 Plus Portal

More and more people live on credit and get their new vehicle or an expensive vacation trip financed by a house bank. Older people also want to travel, buy a stylish automobile or renovate their living space. In contrast to young people who have little difficulty in getting a loan, the older person often faces closed doors because the credit institutions no longer want to grant him a loan.

Why are middle-aged people less creditworthy than young people? Not so long ago, it was almost unthinkable for older people to get another loan. The reasons for this procedure were always the same: They simply avoided the risk that the debtor would die before the repayment expired and the house bank would never visit its capital again.

This situation has improved today, but it is still not easy for the 50 and more generations to have a lender. Even though the number of loan applications from 55 to 64 year olds has increased by 14% in the past ten years, credit institutions are still unwilling to grant loans to an older person, although most Best Agers have a fixed monthly income.

The fact that the change in population means that people are getting older and older in good physical shape also makes credit institutions cold, because even this prejudice is not accepted by most credit institutions. Because credit institutions classify older people as so-called risk groups, they are granted a loan, albeit at significantly lower interest rates than other debtors.

But that does not have to be the case when older people with a solid basis for negotiations enter into discussions with the house bank. It is best to get a low-interest loan by being able to show the appropriate security features. A property like your own home represents such a security deposit, but a life insurance policy is also recognized by the credit institutions as a security deposit.

But it is also possible that the little ones have a guarantee, because if something should happen to the little ones, then the little ones as their descendants must also bear the liability like a bank loan if they accept the inheritance. Every loan should be checked very carefully with regard to its duration and the monthly installment.

It is necessary to set the rate so that income is sufficient to maintain normal prosperity. The issue should also be addressed for older people: What should the duration of the loan be? Anyone who comes to the elderly and therefore either does not receive any credit from the house bank or only receives a loan at bad terms, still has the chance of an alternative to the classic …

One of these options can be a personal loan. However, this loan is not a loan from family members or acquaintances, but a so-called crowdfunding loan, which is also known as swarm financing. With such a loan, private individuals are the lenders.

Most lenders are able to pay a loan with small sums and receive money for it, as banks do. Such a private bond can be a very good and, above all, inexpensive option, especially for larger debtors.

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Credit card stolen on vacation – what do I do? /credit-card-stolen-on-vacation-what-do-i-do/ Mon, 23 Dec 2019 13:34:50 +0000 http://www.vnptbiz.com/credit-card-stolen-on-vacation-what-do-i-do/

You deserve a well vacation,

You deserve a well vacation,

It is usually the most beautiful time of the year – the well-deserved vacation is getting closer, the planning is finally finished and it can start with joy in the far country. Unfortunately, such a trip can quickly become a nightmare if your credit card is stolen on vacation, for example. But always with peace of mind, there is of course something that can be specifically protected against credit card theft abroad, which we would like to briefly list so that you can start the holiday season relaxed.

Things to do in advance,

Things to do in advance,

As already mentioned, there are some things that you should do in advance so that your credit card is also optimally protected. If the credit card was stolen on vacation, quick action is announced, but more about that later, here are some precautions that were recommended by the police and various credit card companies:

  • Renting a hotel safe can be very useful. If you plan not to use your credit card one day or evening, you should, as a precaution, lock your card in the safe.
  • With more and more credit card payments, especially on the Internet, a PIN number is necessary. Unfortunately, many customers make the mistake of carrying this number directly with their credit card or even writing it on the card in order to have the number quickly at hand. Please do not do this under any circumstances and save it in your memory.
  • Unfortunately, there are mostly organized gangs in some vacation regions that specialize in stealing credit cards. Usually the theft happens very inattentively. It can therefore be very useful here if you carry a wallet that is attached with a chain. These models can be easily attached to your pants and are usually not too expensive.
  • Reduce your credit card availability for your vacation to a minimum, this can be done easily by calling your credit card company.

If your credit card has already been stolen on vacation, fast action is the order of the day, only a blocking of the credit card will help you to avert worse things. How you can have your credit card blocked.

We wish you a pleasant vacation.

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Credit for the Self-Employed /credit-for-the-self-employed/ Thu, 12 Dec 2019 14:03:06 +0000 http://www.vnptbiz.com/credit-for-the-self-employed/

When starting a business or self-employment, many questions arise. Customers receive a car loan from all German Good Finance for the financing of new and used cars.

What are the topics that are relevant to entrepreneurs in Austria? You will receive information about subsidies, financing, taxes and self-employment tips. Will freelancers or the self-employed also receive a FAIR consumer credit?

Business start

Business start

Your Good Finance can help you to stay on the road to success right from the start. When starting a business or self-employment, many questions arise.

But before you decide to raise the money, you should use your business plan to calculate how much you spend. In the beginning, not only the funds for investment, foundation costs or raw material are needed.

In case of emergency, you should always keep an “emergency penny”. Experienced consultants of your Good Finance will help you in the preparation of your financing concept. They are anchored in the respective region and have financial experts in founding a company. The bank adviser knows which loan is right for your home and how it benefits from government support.

Your company should succeed and grow from the beginning

Your company should succeed and grow from the beginning

For this, it is necessary that the payment process runs smoothly. Good Finance has the right offers and is your partner. All this is important for your startup business. In this way, you are set to bottlenecks or can calculate in case of overhang investment costs.

You as a self-employed person must protect yourself and your business. Being prepared for emergencies does not mean avoiding every single event, but adjusting to events. In this way, you can keep the impact on your operation as low as possible. It’s a lot of power and heart and soul in your operation, it should not come through a little inattention or an unfortunate event.

Therefore you should take out appropriate insurance policies in time for emergencies. There are currently over 300 types of insurance products for the private and business insurance sectors – and rising. 2. In order to get an idea of ​​the dangers you can expect, expert advice is needed. Your Good Finance advisor or your Good Finance consultant will assist you in choosing the right goods for you.

Before you start working with the expert

Before you start working with the expert

The prospective trader must choose a suitable form of company. For a future entrepreneur, the most important choice is also his hardest.

Because when it comes to the optimal form of society, there is no optimal alternative – despite many ways out. The choice of legal form has legal, economic and fiscal consequences. Before deciding on a company form, you should give a few details: You have the opportunity to answer your question: are you risky and want to take full responsibility?

The business concept is commitment and free choice for entrepreneurs. It matters to your potential sponsors and to yourself. What does your offer bring to your customers and what makes it better than the competitors? Which shape did you choose and why? Anyone who answers all the questions raised in the business plan is there.

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