Home loans are increasing

The structure of Italian consumption changes very slowly, but in recent years the costs for housing (from furniture to renovation) have undergone a big growth. This is what emerged from the latest ” Consumption and Prices ” analysis published by the LightUs Commerce Research Office .
The figure is not so “disconcerting” given the evolution of home financing, made much more accessible and with very convenient conditions.

 

How have Italians’ expenses changed in the past 20 years according to the LightUs Commerce report?

How have Italians

The analysis carried out by LightUs Commerce took into consideration a huge period of time. The period in question is the one from 1995 to 2017 . What emerged was in all respects an inverse trend: while before, 20 years ago Italians spent more on food and clothing (-4.5% compared to 20 years ago), now the focus is it has been moved elsewhere: part of the income is used punctually for household expenses (+ 5.5% compared to 20 years ago), from the purchase of a new piece of furniture to ordinary or extraordinary interventions.

 

Family budget: change of destination towards household expenses

Family budget: change of destination towards household expenses

In the past 22 years analyzed by this investigation, there has been a profound change in every aspect of daily reality that has affected society, changing its habits. If on the one hand in the clothing sector you spend less, also because important “players” have come into play who have torn and conquered their own market share by playing on competitive price policies, on the other in all that concerns new technologies family expenses have increased. For example, always in the field of home, a new market was born, that of ” home automation “, of the ” smart home “, of the intelligent and robotic home. More and more families allocate part of their income or ask for loans to innovate within their home walls.

Another aspect, totally different, but interesting to report is that of the growth of personal health expenses. The latter phenomenon is directly related to the increase in the average age of the Italian population. The confirmation of this comes from another analysis, published by Gtk, on ​​the “new seniors”. Over 13 million Italians are between 55 and 75 years old. Of these, around 20% are considered an “active senior”: they care more, play sports, travel and constantly innovate their main home. More advanced also in terms of technology, they use smartphones and tablets daily. To fulfill their wishes in old age they also ask for loans online or seek loans for pensioners directly on the internet.

What are the easy loans to get?

More and more people are looking for easy loans, however, the concept of “ease” should not be misunderstood. The adjective “easy” in this case should not be understood as the possibility of obtaining funding quickly and without checks because it is absolutely not so. Regardless of the type of loan that will be requested, all the necessary documentation must be presented to the bank or the credit institution to which it is addressed. In fact, you cannot grant liquidity if you present yourself without a paycheck and therefore without any guarantee.

 

Online financing: among the easy to obtain loans

Online financing: among the easy to obtain loans

If you are looking for easy loans, you cannot find a better solution than online loans. In fact, online loans allow you to request quotes and assessments of your credit situation very quickly. An optimized investigation process therefore allows faster times even in the disbursement of credit to the user.

During the evaluation phase, each credit institution will also evaluate the customer’s past credit situation to assess the presence of any outstanding payments, delays or other negative events.

 

And if you are labeled “bad payers” how can you proceed?

credit loans

Here is how the discourse between a not so rosy credit history and the search for easy loans to get end up intertwined. Often, in fact, we tend to consider “easy” those loans that can be granted to anyone regardless of their “financial criminal record”.

 

Is there an “easier” form of financing for bad payers?

There is in effect a more accessible form of loan for bad payers, but this does not cancel the premises made at the beginning of this article. It is clear that even a person who is considered bad payer on behalf of some financial companies, will have to present guarantees when he re- submits an application for a loan.

Among the various types more easily declined even to users considered bad payers there is, for example, the transfer of the fifth which allows to obtain high amounts to be returned with an installment equal to a maximum of one fifth of the pension or net salary.

Protested or bad payer? How to get a loan in these cases too

Being bad payers or protesting is not a pleasant condition, but there are ways to get a loan in your situation too. The whole of these words ” protested ” ” protest ” ” bad payer ” this can complicate access to a loan. It certainly puts you in a mental condition of stillness of thought that does not help you to have the right approach to solve the problem.

I know it’s not easy but try “Think Positive” Know that even those who have had difficulty paying a debt and are protested or poor payers can have new opportunities. Doubts are the cause of uncertainties and confusion, remedy them with the right understanding!You can clarify your ideas immediately using our free service that will allow you to get up to 3 free quotes from as many financial ones.

What does it mean to go in protest?

money loan

The protest
In Law, it is a public act which certifies the presentation of a promissory note or check to the debtor and the refusal by the same to pay or accept the title.

What happens when we don’t pay a debt and what does it mean to be considered bad payers?

When, through a public official, the debtor is asked to honor the debt and he will not pay the amount due, some mechanisms are activated.
Without getting lost in long explanations you can face administrative and civil penalties:

You will face administrative penalties:

money loan

for checks, the penalty ranges from 516 to 3098 USD and may increase when the check exceeds 10,329 and in the case of repeated violations.  For bills of exchange, however, if they are on a certain date, the protest can be made within 2 working days following the due date, while for sight bills within 1 year from the date of issue.

Civil effects:

they result in the payment of default interest which increases with the passage of time and leads to the creditor’s attachment to the debtor’s assets. If you do not pay, you will be entered in the electronic register of protests kept by the Chamber of Commerce or in the databases on creditworthiness, to name a CRIF. You will therefore be a bad payer in the databases and the consequences are easily understood.

How to get a loan? There is a solution!

The best solution would be to heal the debt and know that there is the possibility of requesting the cancellation from the register after payment of the amount due, of course the procedure will be more streamlined if you have the possibility to do so within a year of the protest while later it will be more complex.

In any case it is not impossible to apply for a loan even if you are a bad payer or protested. The solution passes through the request for a non-finalized loan, through the Transfer of the Fifth .

What is the assignment of the fifth?

money loan

The assignment of the fifth is a particular type of loan with payroll retention up to a maximum of one fifth of the salary.

As can be deduced from the definition, the fact that the installments are kept directly on the paycheck is a big advantage, in this way, even if you are protested or entered in the databases as bad payers, you can still offer banks or financial companies the security of being able to repay debt. The opportunity offered by this type of loan is basically based on the fact that it is not you who will pay the loan directly but your employer.

So the attention of those who must evaluate whether or not to grant you the credit shifts mainly to the company that will guarantee the retention of the installments from your salary. So even if you are not solvent but you have a stable job, the possibility exists!

What are the basic steps to request a assignment of the fifth?

What are the basic steps to request a assignment of the fifth?

The process of requesting a transfer of the fifth can be a bit confusing but not complicated and knowing some key elements you can approach prepared a bank or a financial understanding what they are proposing to us.

  1. Request for assignment of the fifth: to request the assignment of the fifth or to be made a proposal, you will be spoiled for choice, both offline and online. Besides, I don’t know if you have seen the metros covered with dachshunds in Milan. Or if you have searched for protested loans on Google, you will certainly have noticed the various advertisements of banks, financial companies or comparators that offer you TAN, APR and figures. So to get quotes the necessary documents are: identity card and above all the paycheck or the cud if you are retired. The loan providers will be able to ask you further questions to establish your length of work to substantially understand if your source of income is stable.
  2. Rating

Small Loans Online For Your Expenses

It may happen that you need to understand which small online loans are best suited to your needs to cope with low-cost expenses. Thanks to the internet it is possible to calculate different quotes in a few clicks to understand which type of small online loans is best suited for a person in a given situation. Let’s try to understand together what are the alternatives to choose from.

Small online loans for civil and government employees

money loan

For those who work in the Public Administration and need to obtain a small sum of money, you can opt for a convenient form of financing: the small Cheap loan. In this case the maximum payable amount must not exceed four net monthly salaries and must be repaid in a maximum of 48 months . This type of financing proposed in agreement with Cheap is one of the small online loans because it allows you to quickly obtain small amounts and can be requested from the comfort of your home, through the appropriate portal, in a few minutes. In fact, just login in the reserved area with your credentials and send a request. Subsequently, it will be possible to monitor the progress of your practice from the same screen to check the outcome (in progress, approved or rejected).

If you subsequently need to obtain a larger amount, you can opt for the Cheap convention loan granted by various financial institutions affiliated with the MEF.

Small online loans for retirees

Small online loans for retirees

For retirees who need a small amount, the solution is definitely the small online loans that can be requested directly from social security . This type of financing has the same functioning as the small Cheap loan, in fact the repayment can take place in 12,24,36 or 48 installments. It is possible to apply for this type of small loan online without any particular reason. The application can be sent either via a paper form available at any social security desk or electronically by accessing your own reserved area.

A large amount for large silution

money loan

For larger amounts and up to $ 75,000 the solution is the transfer of the fifth: the ideal and versatile solution, suitable for everyone

For employees and retirees who need to obtain high amounts and payment extensions of up to 10 years, the solution is the transfer of the fifth. In addition to being one of the most convenient forms of financing that can be accessed, it is also suitable for those who have not had a linear credit history in the past (delays or failure to pay installments). Through the assignment of the fifth it is possible to request a minimum amount of 2500 dollars and get to have large amounts, up to 75,000 dollars. This type of financing requires that the repayment be made through your employer or pension institution which directly withholds the installment agreed upon from your paycheck or pension. To calculate an online quote just go to this page.

Loan declined? All you need to know

Whether it is for the desire to renovate the house or because we want to change cars, to enjoy a thousand and one night holiday or – on the opposite side of the spectrum – for unexpected medical expenses, it is more than normal to find ourselves in the sudden need for a sum of money immediately available.

The reasons that lead us to apply for a loan are the most varied, but in any case we will have to make our loan request to one or more banks or financial companies.

 

Why a loan application is rejected, and what you can do?

Why a loan application is rejected, and what you can do?

The credit institution to which we have contacted will verify our income and balance sheet conditions, doing what is called creditworthiness screening. In the meantime, we will wait for the response for a few days – generally speaking 48 hours – already anticipating the possibility of doing that shopping or paying off that debt.

Unfortunately, a loan application is not always successful – that is, a loan application may fail. When a loan is refused, the most immediate consequence is that we will have to try to request it from another bank. Often, however, the first loan refused announces the rejection of subsequent requests.

Know that however in these cases all is not lost – quite the contrary.

There are different forms of loan on the market and if you have been refused one, you could get a different type of loan. The best thing is to ask multiple financials who will be able to make you estimates and advise you. Loan Here you can get a free loan quote from multiple credit companies, all by filling out a simple form.

But first let’s see why a loan is refused.

 

Why is a loan declined?

Why is a loan declined?

Let’s face it: not all ills come to harm.

In fact, if a first loan is refused to you, but you take the trouble to understand the reasons for the refusal, you can take those financial actions that will allow you not only to obtain a loan at the next request, but also to prevent your status from the Central Credit Register becomes negative.

Let’s go in order.

The bank is not required to explain to you why it has not given you a loan, but know that explanations will often not be denied to you.

The most common reasons for refusing the loan are

  • Your information is missing or incomplete. It happens especially if it is the first time that you apply for a loan, and you are therefore unknown to the Sic databases. The bank will not be able to verify your reliability, but will inform you of the reason.
  • You have too many debts to apply for another loan
  • You have negative reports (due for example to the late payment of one or more installments of another loan)
  • You’re asking too much money in one go
  • Are you the guarantor of a bad payer, or is your guarantor a bad payer himself or does he not have a financial position to honor the debt if you become insolvent

One of these reasons will cause the funding practice to freeze. The bank will not be able to do anything to satisfy you.

Likewise, your credit worthiness may be deemed ineligible for a new loan. The reasons?

  • Your income and assets are considered insufficient.
  • You are a worker “at risk”, that is, you are subject to a fixed-term contract, and that perhaps is about to expire
  • You already have substantial installments of a loan in progress (I remind you that their amount added to that of the loan installment you are requesting should not exceed 30-35% of your salary)

In the latter case, the bank is refusing your loan to avoid over-indebtedness.

As we have already told you, you need not worry if the loan is denied to you.

There are other loan solutions that you can also search for by filling out our loan application form which allows you to be contacted by up to three financials at one time.

 

What to do if you are denied a loan

loan denied

The important thing is not to lose your temper.

Secondly, you need to know that you can do something even if you are refused a loan. This is why it is essential to know the causes of refusal with the utmost precision.

Let’s see the various actions you can take.

  • If you have a negative report but you do not know you have made late payments, you can ask Crif where the report comes from, and then ask for the appropriate corrections.

Caution. Even when you make a loan request and it is rejected, you can be reported to the Crif for 30 days. Maybe without your knowledge: you will only find out by making a subsequent loan request (which in turn will be refused, perhaps for this reason).

In this case you don’t have to worry anyway. Even if the first feeling is to feel treated by bad payers, actually reporting to Crif in case of refusal of funding is a practice

  1. If you are reported as a bad payer in the SIC lists (for example, because you have paid at least two installments of a loan late), you must be removed from the list of bad payers.
  2. If the loan has been refused because of your employment contract, which is considered “at risk”, you can present documentation that reassures the bank or the financial company on the stability of your job. You can request it from your employer.
  3. If the loan or loan is refused to you because other loan requests are pending (which you may have completed online while looking for information on the best loan for you ) you can ask the institutions to which you have made the requests for a release with which it ensures that you you gave up.
  4. If the bank or the finance company believes that, due to the presence of other loans, you are not able to take on an additional monthly installment, you can study with the bank or with another financial the possibility of reviewing your debt situation. You can possibly apply for a new loan for a larger amount, which extends the repayment plan – the number of installments increases, but the amount decreases.

Do not withdraw credit only

I often see people’s opinion that the best mortgage is the one with the lowest interest. However, interest is not the only aspect that determines the profitability of a mortgage. The advantage of a mortgage is often influenced by the overall conditions under which you obtain the mortgage and the interest rate. You have to remember that even in banking is paying the famous “I do not want a discount for free”. Banks most often give a discount on an actively used bank account, credit card and credit / life insurance. It is also important to count on the monthly fee for loan management, which ranges from 150 USD / month to 250 USD / month.

 

The advantageous mortgage is not determined only by the interest rate

The advantageous mortgage is not determined only by the interest rate

To give you an idea of ​​how the conditions affect the mortgage’s profitability, I have prepared a table with a comparison of two offers while ensuring a 100% mortgage for the purchase of a family house.

Loan Amount USD 1,000,000
Due date 30 years
annual interest rate 3.89% 4.09%
Fee for provision of DGR 2 900 USD
Monthly fee for DGR administration 150 USD / month
Mandatory payments / insurance 932 USD / month 0 USD / month
Repayment of DGR 4 711 USD / month 4 826 USD / month
Repayment of DGR with fees 5 793 USD / month 4 976 USD / month
Total interest paid 695 944 USD 737 496 USD
Total paid 2 088 364 USD USD 1,752,844
APR * 5.86% 4.25%

APR Annual Cost Percentage Rate

money loan

Refers to the total cost of the loan, ie the rate that includes all expenses associated with the mortgage, ie. fees, interest, property insurance, life insurance, if required, etc.

The client received an offer from the bank of 3.89% under the conditions of opening and active use of the bank account and life insurance of the loan for USD 932 / month. As a counterproposal, we gave the client an offer with the condition of active use of the bank account. We also negotiated a discount on interest of 0.30% from the standard offer and reached the final interest rate of 4.09%. Based on data on the total interest paid, a higher interest rate of USD 335,520 is more advantageous. Everything is caused by the payment of monthly credit insurance, which increased APR from 3.89% to 5.86%.

The APR determines the overall advantage or disadvantage of loans.

money loan

However, this does not mean that credit insurance is bad and the only increase in costs / APRC. This is mainly increased by ancillary charges. The advantage of credit insurance is also given by the setting of this insurance and in the case of insurance directly from banks is not always the best solution.

The most common reasons for refusing a loan

A few years ago, a loan without proof of income was no big deal. By this we mean small loans before the payout up to a maximum of 5 000 USD, here you really did not need a bank statement or pay slip. It sounds good that almost everyone has reached financial assistance, but as a result it has led to a headless indebtedness of a large part of the population. Major changes occurred at the end of 2016, when the lending rules tightened sharply. Not only does every consumer credit provider need to have a permit from the Righthand Bank at the same time it is obliged to sufficiently verify the creditworthiness of anyone who will seek the loan. How do banks and other companies access our data that we make available to them? What are the most common reasons why a loan is rejected?

 

The higher the risk we pose to the bank, the lower the prospects

money loans

With every loan out, the bank and the non-bank provider run the risk of not being able to repay their obligations in a timely and sufficient manner. It is logical that they must eliminate these potential “losses” as much as possible.

Anyone who visits a bank branch or applies online should know what to expect and how best to prepare.

 

Almost every figure plays a role!

money loan

The loan as such is a very specific service and, in order to be paid, we are forced to reveal almost everything about ourselves. No wonder, it is a lot of money. The bank will be interested in whether you have any children, are married, have education, employment, job positions, net income and regular monthly expenses. A person who rents a two-room apartment will have a lower chance of success than one who lives in his own. The age of each client is also important.

A fixed-term employment contract is often a problem. Even worse is the situation when we are in probation or notice. Any income must be supported by a statement of account or pay slips.

The bank also does not forget to check your financial history, which means that it will look into all available registers and easily find out whether you are still paying any obligations, but also that you are late with payment for electricity or mobile services. The biggest problems with obtaining a bank loan tend to be:

  • retired
  • graduates
  • mother on maternity leave
  • People who pay off multiple loan products
  • people with a negative record in the debtors register
  • those who have been incapacitated for a long time
  • people in distraint or insolvency

 

How do I increase my chances of getting a loan?

How do I increase my chances of getting a loan?

You will not improve your prospects from day to day, but the sooner you start building your creditworthiness the better. Young people often wave their hands on a short-term loan and do not worry too much about repaying it, but they do not realize that due to a few thousand years later they will not reach the slightest mortgage.

So what can I do?

  • Pay on time and regularly all loans, leases, overdrafts and credit cards
  • Get organized in recurring expenses such as rental electricity, mobile services, and create a standing order so you don’t have to keep in mind that you’ve forgotten to pay again
  • Find a stable job with an open-ended contract
  • apply for a loan after your trial period has ended
  • educate yourself and strive for career growth
  • pay all overdue debts and then seek deletion from the debtors register
  • minimize your spending
  • apply for a special-purpose loan
  • invite a co-applicant or guarantor

 

Where to go if the bank does not lend me?

Where to go if the bank does not lend me?

With higher demands, fewer applications are approved and therefore a significant percentage of applicants resort to loans outside the bank. Non-bank loans seem tempting at first glance, but they look much more expensive. These providers take even greater risk than banks and therefore charge higher interest rates and all other costs. This does not mean that you will not find a bargain loan, but we recommend that you be more careful and consider in advance whether or not to accept such an offer.

 

Worth mentioning is P2P loans

p2P loans

A great alternative to a non-bank loan may be the so-called P2P loan , which sometimes comes out more favorable than the one in the bank. What’s going on? The acronym is based on person-to-person lending. In other words, individuals lend to people who are looking for a loan. Potential investors will receive interesting appreciation and clients will receive a favorable loan, all of which is covered by intermediaries themselves.