Did Fundamental reinvent the annuity loan?

Unfortunately, the original idea of ​​housing collections in Hungary has ended. The abolition of state aid in the case of new contracts (from 17.8.2018) meant that several players in the market bounced back. Only with the active commercial banking background, but with a wealthy sales network, Fundamental found some old-new solution. My first thought was that Fundamental invented the annuity loan again because he had to say something. Let’s see if I’m right…

What is Fundamental Caring for a Housing Account?

What is Fundamental Caring for a Housing Account?

The Caring Housing Account consists of two parts: total savings and home loans. This can be familiar to everyone with the idea of ​​an original homeowner. The Fundamental pays a deposit interest of 0.1% on the savings part, and the customer can receive a one-time, 5% annual interest bonus on the deposit amount placed on the account in that year.

The amount of the monthly deposit per contract is between 5,000 and 40,000, while the maturity is 5 years 11 months and 9 years 4 months.

The housing loan is provided by Fundamental with a very low, fixed interest rate (after a more stringent credit assessment by commercial banks, with a 2.9% interest rate. However, a loan not only consists of interest but also other costs that the APR is supposed to represent. The advantage of Fundamental is that the APR is 4.93% based on the information on their website.

The real money is not going to be for them yet, but for the bridging loan, which we can achieve with 5.24% interest if we meet the conditions, which in the housing loan phase (in Hungarian, as soon as the savings phase expired) – changes to 2.9% – interest rate loan. In this design, the APR is 7.24% , which is already high in a market where, besides 10-year fixed interest rate, in addition to a better-than-average financial situation, we can achieve a THM of around 2%.

A contractor can enter into more contracts

What Fundamental’s offer could be a great deal, is exactly the advantage of leaving state aid. Since there is no state aid, no tax number is required. A contractor can enter into multiple contracts to multiply the available contract amount.

It is very important to emphasize that the Fundamental home loan is the same mortgage as any other bank. Here you also have to comply with the borrowing rules!

 

Is the cost higher than the bonus?

Is the cost higher than the bonus?

The new Local Lakásvoó runs already at the expense of housing savings. A 150 HUF monthly account management fee and 1% of the contract amount will be paid immediately at the beginning!

Examples:

Contract amount of HUF 11 million: account opening fee HUF 110,000 + 112 (9 years 4 months) x 150 HUF = 16,800 HUF account management fee.

In this case, the 5% interest bonus is paid after HUF 480,000 a year, ie HUF 24,000 x 9 = HUF 216,000 + 8,000 (for the last 4 months) = HUF 224,000 per year.

So in this example, the interest bonus is net worth 224,000 to 110,000 = 114,000 forints. In English, the real “interest bonus” is around 2.5%. However, this is not to be confused with the amount of interest available for interest, since this bonus actually applies to the payment of the given year and not to the total capital each year. EBKM 0.51% in this case. That is, an investment where you would receive 1% interest per annum on your entire capital would bring you twice as much money as you get in this case.

The Fundamental’s new house block lost its investment character. Simply in today’s well-known interest environment (see Government Securities, Investment Funds), it is simply not suitable for investing our money in the form that it was with state support.

 

By building loan brokers to obtain cheaper mortgage lending

Many builders and homebuyers still prefer to close their real estate financing directly with the banks. This is not very surprising, because why should one go the detour via a financial intermediary, if one can finance also directly over the bank?

It makes more sense to go through intermediaries

It makes more sense to go through intermediaries

Accordingly, many people use the Internet to search for cheap mortgage rates, and then directly contact the banks. But this approach is not that clever at all. In fact, it makes more sense to go through intermediaries. Below we explain why this is so.

First of all, there is the fact that the mortgage lending market is very large. Most aspiring property owners underestimate the number of providers. The number of direct banks alone is much larger than generally assumed. In addition, there are a few regional banks whose loans are accessible via mortgage brokers. As a result, going to the mortgage broker is more likely to find the ideal loan.

We can choose from a large number of financing solutions

We can choose from a large number of financing solutions

Also, the aspect of independent advice must not be forgotten. Many bankers are not just thinking about the customer. Nowadays, the focus is primarily on the sales specifications: In some banks, the customer does not get what suits him, but what the consultant has to sell right now. For a financial intermediary like us, this is different: we can choose from a large number of financing solutions – which specific provider we recommend at the end is up to us. Accordingly, interested parties receive independent and neutral advice.

Ultimately means that customers enjoy even more attractive interest rates

Ultimately means that customers enjoy even more attractive interest rates

In addition, the loan terms for the loan conclusion talk about a financial intermediary. Good intermediaries have access to preferential terms at some direct and regional banks, which ultimately means that customers enjoy even more attractive interest rates. If banks were to ask directly, these interest rates would not be accessible at all.

Personal Payday Loan and Revolving Credit the Differences

Personal payday loan and revolving credit differences is a frequently asked question that I will try to answer here. They both have advantages and disadvantages and depending on what you are planning with the credit, only one is a good choice. Not only the interest is important, but also the conditions and the duration of the various loans can be crucial. Criticism at kireidekennkou.com

The amount of the loan also plays a role, you often see that a slightly higher loan amount can give a considerably lower interest rate. Especially with a revolving credit this can have a major impact on your monthly expenses.

Personal payday loan and revolving credit the differences

Personal loan and revolving credit the differences

Let’s just get straight to the point by summing up the most substantial differences with regard to these two types of loan. For the sake of clarity, I assume the loan of 20,000 euros. What should you pay attention to and how do you choose one of them so that you know exactly where you stand with interest, duration and conditions.

The revolving credit in the news

The revolving credit in the news

There has been some stirring over the revolving credit lately because an interest rate has been implemented for a number of people. No repayments were made with the monthly installments, but only the interest was paid. A vicious circle that you will no longer be able to reach, because you will not pay anything off, the credit will remain open for the rest of your life. A good lender clearly indicates when interest rates can rise and up to how much. Then you will hardly be faced with unpleasant surprises.

These are the differences

These are the differences

The differences are in different parts of the two credits. This is the interest, the duration and the conditions. These are listed below.

Interest

Revolving credit: Variable. You only pay interest on withdrawn amounts.
Personal payday loan: Fixed during the entire term. From day 1 you pay the interest on the total amount.

Duration

Revolving credit: Can be extended again after the expiry of the term and you can withdraw repaid installments.
Personal payday loan: Fixed term, this cannot be extended. You can no longer include repaid installments.

Requirements

An interim risk analysis can be made for the revolving credit. This means that if your personal circumstances change, the interest rate may fall or rise. With a Personal payday loan this analysis is made at the beginning and no matter what happens, the interest never changes. You can apply for both loans from € 2,500.

Depending on your goal

money

So above you can see the differences in both loan forms. It should be noted that if you are going to do a large expense in a go for a car, a camper or a new kitchen, for example, you better opt for a Personal payday loan. Often the interest is also slightly lower. If you just want some money in hand for emergencies, then you opt for revolving credit.

Life insurance remains the safe haven for the French

Life insurance remains for the majority of French the most prominent savings. 47% of respondents have it.

That’s half the savers. 1500 billion euros. This figure is indicative; life insurance remains the preferred investment of the French.The survey was recently conducted. It reveals the behavior of savers which confirms especially the trend recorded in recent years.

Life insurance is safer

Life insurance is safer

French households are more likely to rely on life insurance by far, which they consider safer as a product to bet on. It goes far beyond Booklet A, PEL and PEA.

In fact, 43% of respondents are in favor of life insurance, compared with 27% for Livret A, 22% for the ELP and 6% for the PEA. One in two French citizens has a life insurance policy. And 12% of respondents plan to subscribe soon after Odoxa.

Life insurance is placed under a favorable tax regime. 37% of respondents are seduced against 19% for remuneration. The tax provision is particular for transmission and redemptions.

Savers buy life insurance for themselves especially. They take it for the following reasons and in priority: preparation of retirement (25%), constitution of a reserve of money in case of serious problems (36%), transmission to benefit third parties in case of death (19%).

The law Sapin 2 is not Christmas

The law Sapin 2 is not Christmas

Euro fund returns are continually declining. Subscribers are worried about the situation especially since they disagree with the law Sapin 2

This law gives the Financial Stability Committee the right to block redemptions in exceptional circumstances. 70% of respondents, regardless of their political sensitivity, strongly reject this provision.

The benefits are attractive

The benefits are attractive

Life insurance gains are subject to social security contributions in the order of 15%.

The advantage of life insurance is that taxation occurs only after the withdrawal of earnings

The history of the contract is one of the major advantages of life insurance. It determines the tax rate of earnings. flat rate of 35% within 4 years. It drops to 15% between 4 and 8 years. Beyond 8 years, the flat tax is reduced to 7.5%.

After 8 years of subscription, the saver benefits from a reduction of 4600 euros or 9200 euros, if it is a couple, annually.

 

Take a loan for a day in the “Urgent Money” and return it without interest

“Urgently” offers a service “24 hours” , which makes it possible to issue a test microcredit and within a day to decide :

  • spend finances on something;
  • or return the loan without interest during the first day;
  • or you can increase the amount and term of return.

This is beneficial to those who doubt whether he needs money or not

money

A day is quite enough to make the necessary decision.

  • You can get a loan in the amount of 1000 to 30 000 rubles.
  • Repayment terms – from 1 to 16 days.
  • Registration of the application is made online via the Internet on the site srochnodengi.ru.

Under the exchange refers to the change in the amount of money and loan terms 

Under the exchange refers to the change in the amount of money and loan terms 

 

The service “24” hours is valid only 1 time in 30 days. After that, you can again take the money. But only if the previous loan is repaid on time. The loan is refunded or changed only once. Under the exchange refers to the change in the amount of money and loan terms .The service is provided to citizens of Russia aged 18 to 80 years. You can repay or return money in different ways. All this and other information can be found on the website of the company “Urgent Money” or by calling the phone numbers listed there.

Returned completely without interest

Returned completely without interest

“24 hours” is an opportunity to think and decide whether to use this money or not. If the money is taken today, then tomorrow it can be returned completely without interest. The service is provided to citizens of Russia aged 18 to 80 years. You can repay or return money in different ways. All this and other information can be found on the website of the company “Urgent Money” or by calling the phone numbers listed there.

Heading: Discounts and promotions of banks Tags.

Good Lender – Personal Payday Loan

For more than 100 years, Good lender has been with the family, always aiming to meet the needs and desires of its clients.

It has a wide variety of products and services: fashion, appliances, bed, table and bath, utilities, electronics, carpets, curtains and even financial services and products.

All done with quality and the very good taste that Good lender has!

Partnership between Good lender

Partnership between Good lender

Since March 2016, Good lender has an innovative partner (the first and largest Personal Payday Payday Shopping Mall in Brazil).

Thus, customers can request, at no cost and without commitment, an offer of Personal Payday Credit Good lender wherever you are, through your computer, tablet or smartphone, and evaluate the conditions for hiring.

Personal Payday Loan of Good lender

Personal Payday Loan of Good lender

  1. You fill in a complete Personal Payday Payday registration on our 100% secure website (your information will only be used to evaluate your credit, you enter your Personal Payday and professional data.) Important: you need to enter your real data because Good lender can request proof of your register.
  2. If Good lender offers possibilities (you will receive this information during the registration, just after completing the basic registration) you will be asked to complete the registration with the data requested by Good lender to evaluate your credit and also the loading of your documents ;
  3. And if all goes well, we will be very happy together with you, as we help you to get your desired loan with Good lender!

* If you have not received a contact during the given time, you can also go to one of the stores in Good lender indicated to continue the evaluation of your credit.

Benefits of Personal Payday Loan Good lender

Benefits of Personal Payday Loan Good lender

  • Installment up to 15x with up to 40 days to pay *;
  • One of the best interest rates on the market.

* Subject to credit analysis.

The Personal Payday Loan interest rate can vary from 7.9% to 15.9% per month. The CET may vary from 8.43% to 16.72% per month (164.13% to 539.28% per annum), depending on the customer’s credit analysis and the installment option, which can vary from 3 to 15 months. Check conditions at the store upon hiring.

Representative example:
Amount financed: R $ 3,000.00. IOF: 3% I Interest rate: 14.9% am Term: 15 months I CET: 15.39% am / 457.37% pa Plot: R $ 520.80

How are credit brokers getting paid?

The mortgage broker can be solicited by both banks and borrowers. Whether free or paid, this professional will systematically receive a fee from the bank in which the loan is granted. The notion of “free broker” means only that the free broker will not charge fees to his clients . Efficiency of one and the other does not come into play.

What are the methods of remuneration of a broker?

What are the methods of remuneration of a broker?

Facilitating the connection between a bank and the borrowers, the broker can receive a commission from the bank and fees from his clients:

  • Representing approximately 1% of the amount of the loan granted, the remuneration commission is precisely defined in the commercial agreements entered into between the broker and each bank. Note that it is not reflected in the borrower’s financing proposals. It comes in exchange for a relationship that would not necessarily be made without his help: they are paid as a business contributor.
  • Paid by the customer, the fees of the broker are freely fixed by the latter – either in a fixed way, or around 1% of the amount of the loan granted. Reminder: this remuneration is payable only if the mortgage is signed, in accordance with Article L321-2 of the Consumer Code.

In any case, the mortgage broker can only be paid if the loan file is accepted. They therefore have every interest in denouncing the weaknesses of a financing plan, in correcting it and thus optimizing the chances of going to committee.

Are paying brokers more efficient than free brokers?

Are paying brokers more efficient than free brokers?

The concept of “free broker” is intended for borrowers : these professionals simply chose not to charge their clients. However, this intermediary does not offer his services for free, but his services are covered by the commission of the bank.

In fact, the free broker is not like a discount broker : his quality and skills do not come into play in this appellation. Moreover, all these professionals are subject to the same regulations of Intermediaries in Banking Operations and Payment Services (IOBSP) and the same code of conduct (Code Monétaire et Financier).

Before the actual payment of the money intended to finance the purchase

Before the actual payment of the money intended to finance the purchase

On this point, the paying broker has the obligation to establish, in writing, the amount of his fees, which can not be perceived – in any way – before the actual payment of the money intended to finance the purchase.

Whatever the method of remuneration adopted, the use of a broker generally allows the buyers to earn between 0.40% and 0.50%, compared to the offer of a bank made without this intermediary. Knowing perfectly the commercial policy of the establishment, he is competent to negotiate the best rates, according to the profile of the applicant. Obtaining the most attractive offers for borrowers to the most comfortable situations (high level of income, wealth, debt ratio …).

Credit comparison – what are the risks?

Whether or not a loan can be granted depends today mainly on the creditworthiness of the debtor. Collateral often no longer plays a significant role, as have the individual decision-making latitude of banks has shrunk in recent years. On the other hand, the Schufa score is decisive: Debtors with negative entries no longer have good prospects for another loan.

Credit comparison: Credit possible despite low credit rating

Credit comparison: Credit possible despite low credit rating

The reason for this is already existing payment obligations, which supposedly exhaust the financial framework of the borrower. Banks fear an over-indebted situation in which current loan commitments can no longer be met. Nevertheless, the credit comparison without Schufa is worthwhile in many cases; the loan offer is getting richer.

Beware of rogue providers

Beware of rogue providers

No question: Anyone who has had difficulties in the past to meet their payment obligations should think about whether it makes sense to apply for another purchase loan. In fact, the debt trap often snaps faster than expected. This circumstance is favored by the fact that in a loan without Schufa hardly favorable offers will appear.

Even if, for example, a loan from private investors is available with a low credit rating, the increased default risk will be reflected in a higher annual interest rate. In addition, unfortunately, there are also many less reputable providers on the market who would like to enrich the difficult financial situation of some potential creditors: Dubious offers can be found by claiming an agency fee in advance. No honest provider in the credit comparison without Schufa will send the debtor a request for payment for the information alone, before he has received the loan amount.

Credit comparison without Schufa: makes sense for rescheduling

Credit comparison without Schufa: makes sense for rescheduling

But despite the risks of fraud and over-indebtedness: For a credit comparison without Schufa there can be very tangible and logical reasons. For example, if a borrower is burdened with many small installment payment obligations, debt restructuring can be a way to reduce costs. Because in relative terms, many small loans are always more expensive than a single, larger loan commitment – the annual percentage rate simplifies a comparison considerably. In addition, it is clearly easier for the debtor to manage a single loan.

More here. Anyone who wants to get an overview of the savings potential of a debt restructuring, should look at once the credit comparison without Schufa: With indication of loan amount, term and purpose can quickly find suitable offers – just without obligation and try it for free.