Archives October 2018

Cheap Personal Loan

Are you looking for a cheap personal loan. Every form of borrowing gives its own characteristics.

It is important to find a cheap personal loan that also fits seamlessly with your income and financial situation. With the right knowledge you can borrow cheaper. In this article we will discuss the main characteristics of the personal loan.

What is the loan for?

  • The loan on installment or personal loan is a widely used form of borrowing money. You can actually finance just about every expense. You can take out a cheap personal loan to go on a trip, pay unexpected expenses, pay a loyalty, and so on.
  • So when you compare loans, your first question is: is the personal loan what I need? For example, if you want to get a car, a cheap personal loan is more expensive than a classic car loan. For certain work in the home, a renovation loan can be considered. You may then still enjoy a renovation premium .

Where can you find a cheap personal loan?

Small Business Short Term Loan

  • A good loan is a loan that suits you. This means that you clearly know in advance what amount you have to repay per month. And that you also know that you can repay that amount with your current and future income. Otherwise it does not make sense of course. A cheap personal loan is not interesting if it exceeds your possibilities.
  • The best way to find a cheap personal loan nowadays is via the internet. Any serious lender or broker offers you the opportunity to submit an application online. Always enter all data correctly and do not leave anything behind. If you are blacklisted or have recently risen , the file manager will definitely know this.
  • It is important to note that you do not have to submit an application randomly on all possible websites. People often think that they maximize their chances. The reverse is true. Start with a professional credit broker with a lot of experience. Enter your file as completely as possible. Be honest about your data too.
  • Your file will then be examined in detail. If there are any ambiguities you will be contacted and the file will be discussed with you. In this way, the right loan is applied for. This way you have the maximum chance that your cheap personal loan will be approved. It is better to make one correct and complete credit application. So you have maximum chance that the loan is also approved.

Cost of the mortgage loan

If you purchase a property, it is financed with a mortgage loan. The interest rate of this loan is very advantageous.

This form of borrowing does entail a number of costs that are specific to this type of loan.

In this article we provide an overview of the specific costs associated with the mortgage loan .

When you start borrowing under the form of a mortgage loan there are two types of costs that play a role. There are the costs charged by the bank or lender. In addition, there are notary fees. Whoever wants to borrow money in Belgium must therefore take into account the costs below.

The cost of the mortgage loan: overview

  • Estimation costs of the bank. With a mortgage loan, the property serves as a guarantee. The lender therefore limits his risk. The lender then obviously wants to know exactly what your house or apartment is worth. An estimator is used for this. The costs of the estimator are borne by the person who enters the loan.
  • File costs of the bank. A mortgage loan is of course a lot more complex than, for example, a personal loan or car loan. The bank has the right to request compensation for the time that is invested in your file.
  • Actual notary fees. A mortgage loan also involves costs for the civil-law notary and his office. After all, legally all kinds of research must be done at official institutions. The latter charge a fee that the notary calculates to you. In addition to a reimbursement of the costs incurred, the notary will also charge you his fee. This fee is legally determined.and depends on the amount of the mortgage loan.
  • Notary fees taxes. Taxes must also be paid on a mortgage loan. These are collected in practice by the notary. This falls under the denominator ‘notary fees’, but actually these are taxes to the tax authorities. The notary transfers the received tax. This concerns registration, mortgage and the right of title. The percentages and costs are legally determined. We give an overview of this in a following article.

Mortgage loan and home bonus from 2015

There was a lot to do in the second half of 2014 about the housing bonus that the government offers to buyers of their own home.

In short: after the formation of government it was decided in 2014 that the subject matter of the housing bonus would become Flemish competence in 2014 instead of federal. It was immediately added that Flanders would reduce the housing bonus from 1 January 2015 in the context of savings.

Many specialists were counting. The financial effects of the adjusted housing bonus are not minus. An average family, two-income households with two children, would purchase about 50,000 euros over a period of 20 years when buying a house with a mortgage loan .

More demand for mortgage loans

Question was therefore what the consequences would be for the real estate market. In the second half of 2014, we were able to identify a great deal of activity. Until December 31, the buyer could still benefit from the old system. This led to more visitors at real estate and credit brokers. Families were asked about the possibilities to purchase a house or apartment. Credit brokers got more interested people on the floor with the same question: “How much can we borrow for a house?”. Not only a new mortgage loan was in demand. There was also more demand for the possibilities to revise a loan . This each time to make maximum use of the old home bonus system.

This increased interest was also translated into more transactions. The number of realized sales and closed mortgage loans was higher than the year before. Notaries are stepping up to complete all files by the end of the year. After all, both the purchase and the mortgage loan had to be fully in order by the end of the year. And so it happened. The complete scenario ran as predicted.

Of course, we also looked forward to the reactions to the new housing bonus. In the real estate sector, sales in 2015 were expected to be considerably lower. After all, many prospects had realized their purchase more quickly in order to be able to enjoy the old home bonus in 2014. At the beginning of 2015 there would therefore be fewer interested parties and therefore less demand for housing.

Mortgages and real estate in 2015

The predictions did not come out in 2015. Strangely enough, the notaries established that the number of homes and land sold in January is at the same level as a year before. An unambiguous explanation for this was not yet immediately to be found. Bart Van Opstal of notaris.be cited the low interest rate as a possible factor. Because the savings hardly yield anything, consumers look for other possibilities. Investing in real estate can then be a valid alternative. This new group of prospects creates a new demand.