Consumer credit: knowing how to compare the rate! (2020)

CONSUMER CREDIT

CONSUMER CREDIT

A very useful tool for household life, consumer credit is one of the pillars of the modern economy. In Belgium, more than 6 million people use this type of credit each year to finance a purchase. Small focus on consumer credit to understand the drivers and know how to control it.

KNOW HOW TO COMPARE THE CONSUMER CREDIT RATE

KNOW HOW TO COMPARE THE CONSUMER CREDIT RATE

The rate of a consumer credit is crucial. It ensures the remuneration of the lending institution and determines the cost of credit for the borrower. To be relevant, your comparison must be made on a single basis and including all costs. The Annual Total Effective Rate (APR) was created for this purpose. The latter includes all that is owed by the borrower under the loan contracted. As the mention of the APR (annual effective annual rate) is compulsory, you will have no trouble finding it.

FINANCE A MOVABLE PROPERTY OR A SERVICE

FINANCE A MOVABLE PROPERTY OR A SERVICE

A credit is said to be “consumer” when it is contracted to finance a movable property or a service too expensive to be paid in cash or even to meet a need for liquidity. In fact, most households take out consumer credit for the purchase of a vehicle, for the renewal of their household appliances, or to finance a special occasion such as a wedding. It will be understood, a consumer credit is a loan of money granted by a bank or a specialized organization to finance any purchase other than that of a property.

A FAMILY OF CREDITS

A FAMILY OF CREDITS

Today, there are different types of consumer credit to respond to very different financing issues. Banks and credit organizations have indeed designed products adapted to each need: car credit, work credit, personal credit, loan repurchase. Most often these are depreciable loans (installment payments) but there are also revolving loans.

HOW TO TAKE OUT A CONSUMER CREDIT?

HOW TO TAKE OUT A CONSUMER CREDIT?

First of all, never forget that borrowing money costs money and that credit must be paid back. You must therefore borrow up to your repayment capacity. That said, it is very easy to take out consumer credit since the spread of the Internet. Take advantage of the facilities offered by the latter to search for consumer credit online. Attention, the offer in this area is very important and you could quickly be a little lost faced with this abundance. The best is to use a powerful credit simulator like that of Across Lender which will allow you in a few clicks to compare the different financing solutions and their rates.

 

When it comes to credit, wisdom is synonymous with comparison. The Business and Society credit simulator will allow you to go step by step and go to the solution that is most beneficial for you. Serenity in a few clicks!

Online home loans: how to find loans at advantageous rates

With the advent of the network, the search for a mortgage has become a much simpler operation than it was until a few years ago. By using online mortgages, it is possible to reduce the time required for the request as well as for the preliminary investigation procedure.

In addition to the advantage of reducing the time required for the request, using the web channel it will also be possible to obtain more advantageous repayment conditions than those normally proposed for traditional financing. But how to find the best online mortgage offer?

The so-called comparison portals are present on the network, these are websites specialized in the comparison of loans that allow you to identify the offer that best meets your needs in a few minutes. Simply enter all the characteristics of the desired mortgage in the appropriate form and within a few seconds, the site offers offers that meet the indicated requirements.

Home loans 80%: the best offers on the web

Home loans 80%: the best offers on the web

To assist our readers, we have compiled a small selection of the best currently active online home purchase mortgages. The first proposal that we consider is LNB Future Credit Mortgage, a loan designed to meet the needs of those with variable income.

In fact, the mortgage provides for a customizable amortization plan. As regards the amount and duration of the loan, it is normally possible to obtain sums of up to 75% of the value of the property. However, the maximum limit is set at 80% of the real estate value.

The amortization plan is in monthly installments with decreasing amounts and can range from a minimum of 5 to a maximum of 30 years. The interest rate is fixed for the entire duration of the repayment. Although it is not possible to start the loan application directly online, the interested parties can make an appointment at the branch via the official financial website.

Online mortgages 2017 for under 40: offers dedicated to young people

Online mortgages 2017 for under 40: offers dedicated to young people

Another very interesting solution as regards online mortgages for the purchase of the house is Nice Bank, the Unicredit loan dedicated to those under 40. By subscribing Nice Bank it is possible to obtain sums up to 80% of the value of the ‘estate. The beneficiary also has the possibility to choose between fixed, variable or mixed rate.

We find finally Best Bank, which guarantees the total flexibility is beneficial with regard to the choice of interest rate for repayment of the installments. It is in fact possible to suspend the payment of installments up to 3 times. And if to apply for funding is a boy under 35 Best Bank finances up to 100% of the real estate value.