“Online loan offerings are similar”

The online loan offer is starting to look more similar.

The online loan offer is starting to look more similar.

This is shown by research by WUA! to the online orientation on taking out a loan. In addition, Cream Bank was voted best online loan provider for the fourth time in a row.

Research bureau WUA! has researched the online orientation of taking out a loan. A total of 40 respondents between the ages of 25 and 64 participated in the study. This shows that for the fourth time in a row, Cream Bank has the best website for taking out a loan. Respondents gave the bank an average score of 6.9. Loan provider Freo achieved a score of 6.6 and Cream Bank finished in third place with a score of 6.3. Based on the research, according to WUA! conclude that the online supply of loans is starting to look more similar.

Cream Bank has been voted best online loan provider for the fourth time in a row, yet the difference in the top 3 is getting smaller. Compared to the previous measurement, in October 2011, the bank fell by half a point, while Freo rose by one point. Mainly thanks to the favorable interest rate, 27.5% of the respondents preferred Freo. The more well-known banks such as Infrabank, Litebank and Cream Bank were most visited by typing in the web address directly.

Makes the first impression

Makes the first impression

A second frequently used search strategy of the respondents was via a search engine. OHRA was the most frequently found. The survey also shows that Cream Bank, like last year, makes the best first impression. In terms of user-friendliness, AFAB scores best, the respondents described the website as ‘clear’. “An immediate overview of the loan forms without clicking through.” Strongest daler was OHRA, the bank drops from fourth to 13th place. This was partly due to the fact that respondents had to search for information for a long time and the calculation of the maximum loan amount resulted in ambiguities.

The Litebank website also caused annoyances among respondents. Especially calculating the maximum loan took a long time because the page concerned had to load for a long time. Despite the different search strategies and decision factors that the respondents had, it can be concluded that the websites of loan providers are starting to look more similar.

Buying back credits to finance your projects

Marriage, purchase of a new car, work to be carried out, children’s studies to be paid for… Life is made up of projects to be carried out. The only problem: how to finance them all? Today Lite Lenders Finances talks to you about the consolidation of credit to carry out all your most beautiful and ambitious projects.

 

What is loan consolidation?

loan consolidation?

With the student loan, consumer credit, mortgage (which also concerns work) it is not uncommon to subscribe to obtaining one or more money loans.

Grouping your credits into one allows you to reduce the amount of monthly payments and to depend on only one organization.

Using a company that specializes in buying loans has several advantages:

  • Simplification of budget management
  • Reduction of the monthly budget with a single monthly payment at a better rate
  • Establishment of a treasury to finance new projects
  • Inestimable time savings

You can estimate your monthly relief with this credit consolidation simulator.

 

What are the conditions?

money loans

Faced with the accumulation of debts it is often easier to give up all new projects than to seek at all costs an optimal financial means to carry them out. But thanks to the grouping of credits, new opportunities are available to you.

The grouping of loans is accessible to all without any distinction. Whatever your age, family or professional situation; Whether you are a tenant or an owner, you have the right to do so. To subscribe, simply contact an agency that will carefully study your requests. Because each person is unique, each solution must be personalized and made to measure.

You do not want to combine all your loans? No problem. You are masters of your money. You can choose to combine only certain credits if you wish.

In addition to its effectiveness, the repurchase of credit is simple to carry out and can be carried out in a very short time. So you no longer have to wait months to finance your new project.

 

Need a tailor-made solution?

money loans

At Lite Lenders Finances, expert in grouping of credits, professionals are at your disposal and at your disposal to answer all your questions. Our ambition? Help you accomplish all your projects and this as soon as possible.

First, make a simulation of grouping of credits on the Lite Lenders Finances website to find out your future monthly payments. If you like the offer, don’t hesitate and ask to be called back.

A dedicated advisor will be able to offer you personalized loan buy-back offers tailored to your possibilities.

Here the advisers are at your disposal and accompany you step by step for a quality follow-up.

Real estate purchase: think about tax reductions and credits

A real estate project? What effects on our taxes? They vary according to the nature of the purchase (main residence, secondary or rental investment), and the time of resale … Focus on essential measures.

Tax deductions or credits are not a thing of the past!

cash

Even though the loan interest tax credit no longer exists since 2011, other measures are still in place. However, you have to choose the right situation for your profile and your project.

There is a notable difference between tax credits and tax reductions.

By definition :

  • The tax reduction is an amount subtracted from the amount of tax
  • The tax credit is also an amount subtracted from the amount of tax. But unlike the reduction, it can be reimbursed to you, in whole or in part, in two cases:
    • If the amount exceeds your tax
    • If you are not taxable

The energy renovation tax credit

money

To take advantage of this, you must do work that complies with the sustainable development charter that the government put in place definitively in September 2014.

To do this, they must concern at least two thermal improvements within the housing (purchase of pump heat, heating regulation, insulation…). This credit is limited to USD 8,000 for a single person or USD 16,000 for a couple declaring their income jointly.

Its installation is simple. When reporting taxes, specify the amount of your work in the “Reductions and Tax Credits” category.

A sub-section is called “Expenditure in favor of the environmental quality of the main house” and allows you to declare precisely the work you have carried out (energy saving, thermal insulation, energy production equipment using a source of energy). ‘renewable energy…).

However, it is important to keep the invoices for the works or materials purchased, they may be requested from you in the event of an inspection.

Tax reduction and tax exemption laws *

These measures allow you to withdraw from the amount of your taxes the deductible amount allocated by the State. They can be done in special cases

The most recent: the PINEL law. To benefit from it, you must buy a new property to rent it out and comply with certain constraints (notably the city of residence).

The previous law, the Duflot law, provided for an 18% tax reduction in the purchase price of new housing. Now, with the Pinel law, there are three possibilities:

In principle, the longer your commitment to rent your property, the greater the tax reduction will be. In practice, the owner must initially commit for a minimum of 6 years and extend his engagement for the two periods of three years.

If the main conditions remain unchanged (tenants’ resources, rent ceiling, the maximum price per square meter) the Pinel law, unlike the Duflot law, authorizes rental to ascendants and descendants, without compromising the tax advantage.

Other laws are favorable to individuals so that they constitute an additional and diversified heritage.

For example, the law Bouvard (Renter in Furnished Not Professional). It applies to the purchase (new or in transit) of tourist, business, student or EHPAD residences. These goods are furnished. This law makes it possible both to recover part of the price for tax exemption but also part of the price linked to VAT.

There are also more specific laws such as Malraux law, Debian…

With or without the benefit of a law, a rental investment allows you to reduce your taxes by creating a property deficit through renovation work and the charges created by the interest generated by a loan.

Do we still benefit from tax advantages in the event of renegotiation?

Do we still benefit from tax advantages in the event of renegotiation?

The current trend is lower rates, we may want to take advantage of them without losing the tax benefits.

If the renegotiation with your bank, or repurchase by another banking organization, does not call into question the tax advantage linked to the law of your investment, it is necessary to take into consideration the fall of the rate and therefore of the generated interests.

Because by paying less interest, you risk being more taxed on your rental income. This risks encumbering part of the profit from the renegotiation or the redemption of your credit.

* Current tax laws and benefits do not take precedence over future finance laws.

An immediate agreement for a credit request

Thanks to online financial institutions, you are able to get credit immediately. Indeed, these institutions ensure rapid processing of files. You will have an answer in principle as soon as you send your credit request. However, it should be noted that a policy response does not mean a definitive commitment on the part of the bank. It only informs you of the conditions of the contract and the documents to be provided. In general, the online financial institution sends you an agreement in principle to notify you that your file has been processed and that given the information you have given, there is a good chance that you will get the credit. But do not be reassured to get the loan until the signing of the loan offer.

 

The conditions to be fulfilled

The conditions to be fulfilled

There are conditions to be met in order to obtain credit online. For example, you cannot pretend to have an online loan if you are prohibited from banking because online establishments also consult bank files in France. You must present a convincing guarantee. But, nevertheless, the conditions of online banks are more flexible than those of conventional banks. You have the opportunity to find a super advantageous immediate credit agreement using online comparators. To obtain a loan that suits you, you are advised to provide as much information as possible about your professional and personal situation. You must also indicate the nature of the project to be carried out. Always take care to check if the information you enter in the loan application form is consistent with that found on your supporting documents.

 

Loan without proof of use

Loan without proof of use

Credit without proof of use costs more than borrowing where you have to tell the bank what you plan to do with the money borrowed. The financial institution will lend you a fixed amount which you will repay in the form of constant monthly payments. Revolving credit is also an option that allows you to obtain credit without proof. The online banking establishment will grant you a loan taking into account your current income and your repayment capacity. To have an immediate response for an online credit without proof of use, you must select the type of loan that suits you before contacting your online bank. This makes the processing of the file even faster. You should also have to carry all the documents relating to your personal and professional situation. Online banks provide an immediate policy response regardless of the type of credit.

With this portal, you are able to quickly and easily find the credit offer that suits you the most among the multiple offers that are available to you. Indeed, the site provides you with a credit comparator which provides you with safe and reliable results.

Extreme differences in social loans in Belgium.

 

 

Mortgage loans are more expensive than expected at some Belgian social lenders. A survey by the consumer organization Spin Lender, about which the Belgian newspaper De Morgen reported, shows that in many cases the interest with social lenders is even higher than with the ordinary bank.

Social loans in Belgium are not always “social”.

Social loans in Belgium are not always "social".

In March, the study requested rates from the social loan providers in the Flemish and Brussels regions. These data showed that some institutions use higher rates than the traditional bank and that there are large differences in rates among companies. The Belgian newspaper De Morgen writes: “The low-income families who assume that they already borrow cheaper from a social credit company than from the bank will be disappointed”.

Social lenders grant social loans for buying, building or keeping a modest home. There are two types of credit companies, the subsidized and the non-subsidized. Across Lender is a lender that is not subsidized by the government and recognizes the problems. Employee Erik Peeters: “Yes, we receive complaints from dissatisfied borrowers, but we cannot do anything about it. For our rates, we depend on politics. The Flemish government leaves the social credit companies out in the cold. We often have her there pointed out. “

Long term loans

Long term loans

For a loan of 100,000 USD over twenty years, Across Lender is more than 39,000 USD in repayments more expensive than the subsidized Flemish Housing Fund. It could be even more extreme: The Brussels social credit company Petit Propriétaire is even more than USD 47,500 more expensive than the Flemish Housing Fund.

Spin Lender wants the regional governments to quickly end the tangle of social loans. “Such huge differences cannot be justified. The social loans are not always social and miss their target,” said financial expert Yves Evenepoel of Spin Lender. “The problems are not there today. We have been getting complaints about social loans for twenty years.”

At the end of last year, the political party New Flemish Alliance (N-VA) already argued for a merger of the Flemish Housing Fund, the Flemish Society for Social Housing and companies such as the Across Lender. Flemish minister Freya Van den Bossche (Energy, Housing, Cities and Social Economy) emphasizes that this reform has been approved by the Flemish government and that centralization has been initiated at Flemish level.

Purchase in joint possession and mortgage in 2020 all unmarried couples can use it

Marriage is not a must before considering the purchase of real estate for two! About 25% of French couples live together under the common-law regime. If they do not wish to exchange vows at the town hall, the cohabitees may however legitimately want to invest in a main residence of their own.

Several options are available to them to achieve this, including a classic joint purchase, the creation of a SCI or the addition of a “tontine” clause on the act of purchase. The signing of a civil solidarity pact (PACS), finally, is less rigid than a marital contract and can favor the survivor at the time of the death of the other member of the couple.

It should be noted that “whatever formula is chosen, a couple would be particularly well advised to consult a notary, a professional most capable of clarifying and orienting aspiring owners,”.

The purchase of a property in joint possession

The purchase of a property in joint possession

As part of a first real estate purchase, joint ownership remains by far the most common formula for young cohabiting couples who do not yet have a significant heritage. Indivision consists in mentioning the names of the two buyers on the notarial deed of sale, and therefore in making the couple members the two legitimate owners of the property.

Why buy in joint possession?

Buying in joint possession is a simple solution to acquire a property with others: all unmarried couples can use it. When buying a joint property, each holds a share of the building expressed as a percentage. If an equal distribution at 50/50 is fairly common, it is also possible to choose a distribution at 60/40, 70/30, etc. Better indeed that the distribution chosen faithfully reflects the real investment effort of each partner, otherwise the tax authorities could sanction a disguised donation. This possibility of distributing the purchase according to an agreed percentage makes it possible to take into account the differences in income between the partners as well as the amount of contributions made by each, and therefore to limit the sources of conflict.

The specific case of a PACS couple

If you entered into a civil partnership before 1 January 2007, your diet is normally that of undivided when buying a property. You are then each owner of your main residence at 50% – unless you have opted for a different distribution – and this, regardless of the actual financial participation of each. These conditions are also the same as for cohabiting partners.

Since that date, PACS are subject by default to the separation of property regime. The goods acquired before and after the signature of the PACS remain the exclusive property of each partner, with the exception, however, of family housing for which there is a presumption of solidarity, in particular for the repayment of the mortgage. In return, the surviving partner will not have to settle inheritance tax on the property if the deceased had drawn up a will to that effect.

Purchase in joint possession then marriage

Have you bought a property in joint possession and now wish to get married? This decision has different consequences depending on the matrimonial regime you choose.

Thus, if you do not opt ​​for the drafting of a marriage contract, the default regime (or legal regime) is that of the community reduced to acquests. In this case, only the real estate purchased after the marriage is common to the couple. This scheme therefore has no influence on the undivided co-ownership shares. This is also the case for the separation of property regime.

On the other hand, by opting for the universal community regime, the houses and apartments bought before the marriage, as well as the debts contracted, become common to the couple.

House purchase in joint possession and separation

House purchase in joint possession and separation

As in any other joint ownership, unanimity is required for all important decisions concerning the property, including of course its possible sale. In the event of conflicting separation, three solutions can arise:

  1. The two ex-partners agree to sell.
  2. One of the two ex-concubines buys the share of the other, to continue to live in the accommodation.
  3. One wants to sell and the other doesn’t. The sale may in this case be ordered by authority by the court, insofar as “no one may be forced to remain in joint possession” (art. 815 of the Civil Code).

In general, before the act of purchase, ask yourself the question of the future of a mortgage in progress in the event of separation. Indeed, if one of the two ex-partners wishes to keep the house or the apartment, he must be able to buy the corresponding share. For this, it is possible to take out a mortgage complementary to the main loan.

Purchase in joint possession and death

Purchase in joint possession and death

Although being a simple solution, the joint purchase of a main residence is often problematic when one of the partners dies.

Indeed, in the absence of a marriage contract, cohabiting partners do not enter the estate and are not authorized to stay in the dwelling without the express agreement of the heirs (children, parents, brothers and sisters, etc.).

The surviving partner cannot demand to continue living in the accommodation insofar as he is no longer the sole owner: he only holds his share of joint possession, the other share belonging to the heirs.

To limit the consequences of a death in the couple, several solutions exist. It is for example possible to draw up a will or to give usufruct to one’s spouse in the event of death. This second option allows the cohabiting partner to continue living in the accommodation for their entire life, without having to obtain the prior agreement of the heirs. On the other hand, he has to pay 60% of inheritance tax.

Three other possibilities exist to protect the couple in the event of death: the joint ownership agreement, the tontine and the SCI (see below).

The real estate civil society (SCI)

Rarer than traditional joint ownership, the creation of a real estate civil society (SCI) in principle requires a small initial financial investment, of the order of 2,000 to 2,500 $. The two cohabiting partners are no longer directly owners of their main residence but hold the shares of the SCI as partners, up to their respective financial contribution.

SCI presents an attractive tax advantage since it can result in reducing the real value of the property by 10 or 15%. Beyond that, it also offers much better protection at the time of succession. By means of a legal arrangement called the “dismemberment of crossed property”, each cohabiting partner has half of the property in bare ownership and the other half – that of his companion – in usufruct. The usufruct cannot be inherited: on the death of one of the spouses, the survivor regains full ownership on his part while retaining the usufruct on the other part, without any heir being able to oppose it.

The SCI is by nature a fairly rigid formula for managing a simple main residence, involving the drafting of statutes or the regular holding of meetings. The conditions of its dissolution can be foreseen in advance in the statutes but will not prevent great difficulties in the event of heavy disagreement between the two partners. The courts, in fact, have no jurisdiction to intervene. Overall, the SCI is above all recommended for large property holdings.

The tontine

The inclusion in the act of purchase of an increase clause, or “tontine”, may be of interest if the property, necessarily acting as the main residence, is of low value. Below an estimated value of $ 76,000, in fact, the surviving partner is exempt from the payment of any inheritance tax, just as it would have been under the marriage regime! This does not, however, exempt him from paying the amount of transfer duties. The clause also has the effect of making the surviving partner the sole owner of the property, by canceling the rights of certain reserved heirs.

The tontine is therefore reserved for a very specific audience, and also suffers from a certain rigidity. Its deletion requires the consent of both parties, as well as a sale and sharing in the event of separation.

Joint purchase: how to avoid risks?

Joint purchase: how to avoid risks?

Buying a property in joint possession presents certain risks which it is important to be aware of before launching. The co-owners must agree to all decisions concerning the property, from its maintenance to its resale.

In conflict situations, managing joint property can become very complex. In addition, the debts of the joint ownership must be settled according to the same percentage as that fixed at the time of the signing of the purchase (50/50, 60/40, 70/30…). This concerns the monthly payments on the mortgage, but also taxes (property tax, housing tax, etc.) and works.

The occurrence of the death of one of the owners is also a risky situation if no measures to protect the spouse have been taken before. Being well informed and consulting a notary is therefore essential.

The joint ownership agreement

Note that the drafting of an indivision agreement can be of great interest, giving the surviving partner priority to buy back the share of his companion when he dies.

An indivision agreement relating to real estate is a written act which must be drawn up by a notary and published in the Land Advertising Service. It can be fixed-term (5 years maximum, renewable) or indefinite.

Its objective is to fix a certain number of rules, such as the distribution of expenses, the appointment of a manager or even the amount of the occupancy allowance in the event of separation.

This agreement, however, cannot be an obstacle to the rights of any reserved heirs – in particular children – over the rest of the estate of the deceased.

Joint purchase and mortgage: everything you need to know

Joint purchase and mortgage: everything you need to know

Buying a primary residence is an important life project in the life of a couple. Thanks to joint ownership, it is possible for all unmarried couples to acquire a property in a simple way, but what about the associated mortgage?

Credit terms

Cohabitation, PACS, marriage: taking out a mortgage is accomplished in the same way. Borrowers can go directly to banking establishments or use the services of a broker to obtain the best offer. If one of the partners contributes more than the other from their personal savings, it is recommended to adjust the percentage of the shares held.

The repayment of the undivided loan

Credit maturities are debited from a joint account opened with both names. Each partner must pay their share of the credit, in proportion to their share in the property, hence the advantage of setting a different percentage if the income of the two partners is very different.

In the event of separation, and as long as the situation is not resolved, each member of the couple must also pay their share of the credit maturity

Civil servant credit: the credit grouping for civil servants

Civil servant or civil servant, this status confers certain privileges in matters of credit. Simply because of stable income, it is easier for banks to provide civil service credit or a grouping of credits to public sector employees. What are the advantages of an official loan? How to benefit from it and under what conditions? Lite Lending Finances answers you.

 

Who is the official credit?

Dedicated only to civil servants, the civil servant loan is a specific credit accessible without conditions and adapted to the resources of the borrower. The civil servant credit is the equivalent of the employer loan to which public service employees do not have access. Spouses and family can also benefit from it, although it is sometimes more advantageous to make 2 different loans for the same purchase (a civil servant loan backed by an employer loan: called employer loan or 1% loan, it is offered by the ‘company to the employee who wishes to access property at very advantageous rates). Do not hesitate to compare with the help of a mortgage broker.

 

What are the terms of the official credit?

credit loans

It is a mortgage for the purchase of land, new or old housing, with or without work. The rates are fixed in advance and the amounts are calculated according to the number of rooms and geographic areas. In addition to very favorable conditions, the civil servant credit benefits from a “civil servant mutual guarantee” which brings a guarantee to the loan, without expenses, for a period of 10 years and 15 years. In fact, certain civil servants mutual insurance companies as well as specialized organizations stand surety for civil servant credit. Like any home loan, the official loan must be supplemented by insurance to guarantee the loan.

The constitution of a file is quite similar to another loan of the same kind: it is necessary to justify a financial contribution, its banking history, its income, and prove its solvency.

 

The benefits of loan consolidation for officials

Consumer loan

Because of its specific conditions linked to a stable income, having an official loan reassures the banks and promotes the obtaining of a grouping or repurchase of credits. Faced with a sudden change in life (illness, divorce, arrival of a new child) or to respond to a new project such as a new property purchase or to finance a trip, budget management can prove to be delicate and disturbed. So you need quick and reliable help to straighten the bar. Consolidating credits for civil servants can be a good solution to improve your cash flow need or help you reduce your daily budget. Indeed, this allows you to reduce your monthly payments into one, lower and therefore more advantageous, and to provide additional funds to carry out your projects.

At Lite Lending Finances, your request is processed as quickly as possible by our dedicated analysts. Our trusted partnerships with the main banks allow us to obtain serious and realistic proposals with your project. Do you want to get an idea before you start? Our credit consolidation simulators allow you to estimate your new credit redemption rate in seconds. Our advisers are on hand to offer you the best solution to your needs and support you every step of the way.

The 10 golden loan rules.

Borrowing money is a necessity for you?

Borrowing money is a necessity for you?

Need to borrow money? Then use these loan tips to find the best loan and not fall into the pitfalls. It may not always be the most ideal way to get money, but if you have to or need to borrow, use these 10 loan tips. These 10 tips will help you borrow responsibly. We give you the best tip first, save money and avoid having to borrow money while saving.

1. How much can you really borrow?
Take a good look at which monthly payments you can really carry. Of course, you can give up your 3rd side job to get a high loan, but realize that you will run into problems if you lose this side job.

Also take a look at the NIBUD site, which consumers want to learn to handle money responsibly.

2. Compare all loan types
There are various types of loans, be well informed about all the pros and cons. Sometimes a private loan can be interesting or a simple revolving credit with your own bank.

3. Compare all loan providers
As with many other (on-line) services, it pays off to compare loan types. In addition to comparing on-line loan providers, it is also interesting to ask your current bank to make an offer and compare it.

4. Note the maturity of the interest rate
A loan of 3%, 4% or some other incredibly low interest rate? Then pay extra attention, this is probably only before the start of the loan.

You may also have to purchase additional products as a life insurance policy. 

5. Interim repayments can become an expensive affair
If you receive a quote, this must include a credit prospectus and a financial information leaflet. Read these fine print carefully, because what if you suddenly find yourself in a luxury situation and want to repay your loan in the meantime? This is usually possible, but at a hefty fine rate.

6. A loan without BKR assessment? Rather not!
The BKR (Bureau Credit Registration) in Tiel is there for a reason, if you are registered here negatively then you already have a debt. Think twice if not three times before you take out a loan while you are already negatively known to it. Checking your creditworthiness is not only in the interest of the bank, but also in your own interest.

7. Extra (compulsory) insurance often part of a cheap loan
Found a cheap loan, the right interest rates for the entire term? Then there is a chance that you must take out expensive insurance. Watch out with this, because lenders often earn back the cheap loan with, for example, too expensive life insurance.

8. Check the lender’s permit
It may sound bizarre, but there are lenders who are not so keen on Dutch law and grant loans without a proper license. On the website of the AFM (Financial Markets Authority) you can view the permits of lenders.

9. Be honest with potential amortization issues
Can you no longer repay the loan according to the agreed contract? Then ring the proverbial bell in time; NIBUD, the municipal department of Social Affairs or the Dutch Volkskrediet Association can help you further and, if necessary, refer you to a debt counseling or debt restructuring agency.

10. Cheap borrowing is and remains an illusion. If you consider that your money in a savings account can yield 4%, it is of course not realistic that you can borrow money for interest rates around this 4%.

Every loan that you borrow at this low interest rate will have to pay for itself in a different way for the lender.