Monthly Archives: November 2019

Loans without paycheck 2017: what they are and how to get them

How to get a loan without demonstrable income? Online loans without demonstrable income represent a type of financing that allows you to obtain capital for the expense of expenses without providing specific guarantees. In particular, it is possible to use a credit line without having an income, that is, a paycheck.

However, we should not think that this type of unsecured personal loan corresponds to a loan without a paycheck. There are several relevant differences. The loan without any demonstrable income requires the disbursement of cash capital even to persons who have no demonstrable forms of income or income.

Loans without paychecks, on the other hand, concern the disbursement of a sum of money designed for subjects who enjoy a salary, a fixed income, but who do not have the possibility of having a document that can certify this salary.

The requirements

By “without paycheck” we mean that the applicant has a salary but it is not possible to certify it. To obtain this type of loan it is sufficient to have a limited amount of constant money, credited to the current account as consideration for a part-time job, another job, a lease.

What are the requirements for the loan without paycheck? To obtain a personal loan without a paycheck you will need:

• more or less regular payments into the current account;
• a joint account holder with a stable employment contract or paycheck;
• real estate on which to take out a mortgage;
• a rent which constitutes a fixed income for the borrower;
• guarantor or guarantor.

Who are they for?

When it comes to loans without paychecks, it is necessary to clarify that it is not about loans dedicated only to those who do not have a job (such as housewives and students) but also to self-employed workers and freelancers.

In other words, all those who despite not having a paycheck can claim a guarantee.

This guarantee can be constituted, for example, by the signature of a guarantor in the event that a housewife applies for the loan. For freelancers and self-employed, on the other hand, it is sufficient to present the Single Model, which certifies the presence of a work income.

Loans for unemployed 2017: the best solutions

When it comes to online loans without demonstrable income, the category of loans for unemployed must also be considered. Products dedicated to those who don’t have a job.

These loans are much more difficult to obtain than the other categories of loans which are part of the online loans without demonstrable income. Unemployed loans can be obtained from the unemployed either by applying for a lien or through loans with bills. Loans granted against a mortgage on a property owned are rarer.

Loans with bills

The loan loan is a particular type of loan characterized by the presence of bills that correspond to the monthly installments to be paid. A solution thanks to which banks and financial institutions protect themselves in the event of non-payment by the borrower.

This is because the bill of exchange is an executive title and constitutes a means of credit through which future credit is granted. In order for the promissory note to be valid, it must be signed and must be in compliance with the stamp duty from the moment of its issue.

The interest rate is fixed and in principle higher than that applied to traditional personal loans. The repayment plan is in monthly installments (normally of a constant amount) and can extend for a maximum of 120 months. The requested sum is granted in a very short time, it is usually possible to obtain financing within 24- 48 hours.

In the event of non-payment, the bill of exchange allows the procedure of expropriation of the debtor’s assets to be advanced directly, thus reducing the time necessary for the bank to repay the capital granted. As regards the reference legislation for online loans without demonstrable income with bills of exchange, payment with bills is governed by RD no. 1669 of December 14, 1933.

Credit with pledge

Those who cannot claim demonstrable income but are in possession of valuable assets finally have the opportunity to use lien loans. Also in this case the requested sum is granted in a very short time, sometimes even immediately.

The disbursable amount of online loans without demonstrable collateral is defined on the basis of the market value of the asset presented as a credit guarantee, which is in fact valued. As for loans with bills of exchange, the rate is fixed but costs are much higher than those which should be paid for a personal loan.

How to find fast loans online 2017 and why choose them

Fast loans in 48 hours are products that allow you to request generally small sums of money, with the guarantee of a quick credit of the amount in question.

Fast online loans are very beneficial financing. Why choose them? Let’s start by remembering that these fast loans in 48 hours can be requested directly from the official website of the financial company or lender, saving time and avoiding going to the branch.

To complete the request, it is necessary to upload identity documents and income documents to the official website of the credit institution chosen.

Loans without online paychecks

Several credit companies, such as Astro Finance and Best bank, allow you to apply for fast loans in 48 hours even if you don’t have a paycheck.

This does not mean that those requesting the loan should not refer to any source of income, since if you do not have a paycheck, you can consider an old CUD or a UNIQUE model as a document certifying the receipt of an income in the case of exercising freelancer.

Depending on the profile of the individual applicant, the credit institution may request additional guarantees of solvency.

How 2017 exchange loans work

When we talk about fast loans in 48 hours we must necessarily frame the case of changed loans. What are they? As is clear from the name, these are loans that are based on the provision of bills.

Bills of exchange are executive securities that the holder of the loan contract has the right to convert into cash, as well as the possibility of continuing to claim a credit from the issuing entity.

Loans exchanged, characterized by a fixed rate for the entire duration of the repayment plan, are disbursed in a maximum of 48 hours and are not finalized, which is why it is not necessary to present a proof of the expenditure made with the amount of the bills.

The guarantees accepted

Fast loans in 48 hours see changed loans as a very advantageous formula for accessing credit, especially if there is no way to present a paycheck or if it is reported in knowledge company as bad payers or protests.

To request them, however, it is necessary to present specific guarantees of solvency. Which ones are they? In the case of an applicant for an employee, the main guarantee is the severance indemnity requirement.

If, on the other hand, we speak of a freelancer or a person without a paycheck, the primary guarantee is the ownership of a life insurance policy for at least two years. The last case is that of the newly hired employee, who can only access a loan changed if he presents a third party guarantor to the credit institution.

We conclude by recalling that the exchanged loans, in the event of insolvency by the beneficiary, determine the recourse on the assets of the contract holder by the credit institution.

Pawn loan

Another solution for those who are looking for fast loans in 48 hours is the lien on credit. In this case, in fact, the granting of credit takes place practically immediately. Pawn loans are in fact a form of financing in which the bureaucratic process is almost completely absent.

As can be seen from the name, to obtain a loan it is necessary to have a valuable asset that will be placed as collateral for the loan. In general, jewelery, gold, furs and works of art are accepted. The maximum amount payable is fixed on the basis of the market value of the asset that is committed.

The repayment of the credit takes place fairly quickly, usually the maximum limit set by the lenders is 12 months. In the event that the applicant fails to repay the loan, the collateral asset will be auctioned.

Due to its characteristics, the pledged loan is accessible to everyone, including those who are reported in the knowledge company database as bad payers and those who have suffered a protest. The only requirement to obtain credit is in fact the possession of a valuable object, and no income documents are required.

When you stand and have to buy a house, you will usually have the opportunity to take over the existing seller’s loan. Taking over the seller’s loan can in many cases save you a lot of money, but there will also be cases where it can’t pay off.

Consider the possibility

You can always see information about the type of loan the seller has in the sales listing if the property is translated through a real estate agent. If this is not the case, you can look up the address in the land register to see what loans are listed on the property

If it appears that the existing loans in the property are a type of loan that suits your finances and risk appetite, you should consider the possibility of taking over the existing mortgage.

In order for this to be possible, you should approach a specific mortgage institution and inquire about the costs and possibilities of taking over the existing mortgage. If you then choose to proceed with the process, it will of course also require them to be approved by the mortgage institution.

It is important that you investigate as early as possible whether or not it is appropriate for you to take over the seller’s loan, because the process for the mortgage institution to approve you can be lengthy.

Therefore, it is cheaper

If you take over the old mortgage, it is typically not associated with the same high costs as if you were to have a change of ownership loan (new mortgage). A new ownership change loan must be registered with 1.45% of the principal plus court fee of USD 1,640.

If you can take over the old loan, just make a debt repayment statement which typically costs a few hundred dollar.

It may therefore be a good idea to take over the existing mortgage – even if the net payment is a few hundred dollars more expensive. The total repayment will in many cases be cheaper – and a better financial choice in the long run.

You can take out loans even if that is not enough

Maybe the seller has already paid off so much on the loan that you need to borrow more. This can easily be done, so it is simply a supplementary loan.

If so, you will save money on the state registration fee to the state, which is payable each time you take out a loan and which is calculated based on a percentage of the loan size. This is because the registration fee is only payable by the new supplementary loan.

It has become incredibly popular to be a summer homeowner in 2019. Therefore, the demand for cottage loans has also increased exponentially. Are you looking for a loan for your upcoming cottage? In this guide, we review what you should be aware of and why you should own a holiday home at all.

Why should I borrow for a cottage?

Several holiday homes provide increased growth , and from the citizens’ point of view there are several good reasons to lend to a holiday home. First of all, it can add tremendously to your and / or family’s quality of life. There is nothing like searching away from a busy everyday life, and here you get the opportunity to make it close to your normal home – this is also the advantage of owning a holiday home. You can quickly get back and forth from your primary residence. It suddenly becomes somewhat cheaper to go on vacation. At the same time, you have a lot of good opportunities to rent out your holiday home when you do not use it yourself, and thereby cover a substantial part of your holiday home costs. There are many benefits when it comes to investing in a cottage.

It is also advantageous for pensioners, as this group of people can actually be allowed to live in the cottage full time after only owning it for one year. Holiday homes are much cheaper in many parts of the country than many year-round homes, so this can also serve as a cheaper housing for many.

What type of cottage loan should I apply for?

In today, there are many opportunities for you who are interested in borrowing money for a holiday home or other types of housing. Overall , the best option in most cases is a mortgage when it comes to vacation homes. Especially after the Planning Act fell into place in 2017. The Planning Act has made it possible to borrow up to 75% of the value of the cottage in a mortgage institution. It also means that people with less savings have better opportunities to own a holiday home. It has been particularly noticeable for younger buyers, as these often have no or very little savings.

In addition, calculations show that there is up to between 300 and up to USD 600 to save per month if you borrow USD 1,000,000 for a holiday home through a mortgage loan. This means that there is a lot of money to be saved on this type of loan. But you also need to be qualified and that is a more onerous process.

The next opportunity for a cottage loan is through a bank. The interest rate is higher on a bank loan, but on the other hand there are lower foundation costs. Therefore, it can pay off on loans where the value of the cottage is less than 500,000 dollar.

A third option for a cottage loan is through a mortgage loan. It is an excellent loan option if the bank has denied you the loan for your holiday home. A mortgage loan is actually a good alternative when you need to borrow for a cottage. A major advantage of mortgage loan loans for the purchase of a cottage is that you as a buyer can get a loan of up to 95% of the purchase price of the cottage, which is why in many cases you can only settle for a payment of 5%. In the event that you have high home value in existing housing but do not have a large savings, it is possible to provide security in the home value and thereby get better loan terms.

The new rental rules help to lend to a holiday home

The political easing of the rental rules has also made it more attractive to rent out his holiday home and thus become a holiday home owner. This is based on the fact that the tax and mortgage rules for holiday homes have changed dramatically. The base deduction on rental income has increased to USD 40,900, which makes it possible to own the cottage without the huge costs. In 2017, this deduction was USD 21,400. So we are almost dealing with a doubling. It also means that holiday homes sales have increased by 28% here in the first half of 2019 when compared to the same period of 2018.

For many holiday home owners, rental has become a significant addition to the economy, and in general it also creates more growth . It supports areas of weaker demand and it benefits tourism throughout the country.

Loan for cottage with Lite lending company

We hope you have learned why it is a good idea to borrow money for a cottage and how to do it. Lite lending company is a mortgage loan specialist, where with the offer from our network of investors, we have the opportunity to offer you the best loan outside the banks. You can read much more about how that process works right here. Should you have any questions about a loan for a holiday home or something else, please contact us.