Mortgage

It is not uncommon for the purchase of a property to require the taking out of a loan. If you already live and work in Denmark, you may be eligible for a real estate loan from a Danish bank. What you have to fulfill and pay attention to, you can find out here!

Who can take out a loan in Denmark

First the good news: EU/EEA citizens who want to buy a property in Denmark have the same rights as Danish citizens when borrowing from Danish banks.

However, this equal treatment requires the fulfillment of one of the two criteria:

Those who have some money on the side and earn a reasonable amount of money do the math every now and then to see if buying an apartment or home would be worthwhile or sustainable. Many people dream of owning their own home – according to surveys, every third inhabitant of Switzerland plans to buy a house or an apartment in the next ten years. Now would be the ideal time. Despite the slight increase in interest rates in recent months, mortgage rates are still at historically low levels. Libor mortgages, which are tied to the three-month money market rate, are available from as little as 0.6 percent. So the consideration is actually to buy a home instead of transferring a rent each month.

Life situation is decisive

Sometimes headlines like "Swiss remain a nation of renters" read as if this fact were a flaw. The housing situation is part of your lifestyle and depends on the phase of life you are currently in. Why should a young couple buy an apartment when it is not yet clear where their professional journey will take them?? For example, the high rate of relocation shows that the Swiss often change their place of residence – nearly 400,000 households moved within Switzerland from August 2016 to July 2017, as confirmed by an analysis of forwarding orders received by Swiss Post. Compared to 2014, housing starts increased by six percent.

Who rents, remains flexible and can for example with a job change fast the domicile change. Buying a home or apartment then tends to fall later in the life cycle. Because who buys, becomes immobile, as it shows the Latin origin word "im-mobilis", which stands for immobile. When you start a family, the need for home ownership increases and with it the willingness to settle down – especially when the children start school.

With this, it overturns the BGH's ruling from 2016. At the same time, it establishes a requirement that all in Germany from 11. June 2010 closed consumer contracts do not fulfill. These could now be freely revocable. A judgment that has the potential to cause a sensation.

Facts

In 2012, a consumer entered into a loan agreement secured by a real estate lien with Kreissparkasse Saarlouis for 100.000 € with a term expiring on 30. November 2021 bound debit interest rate of 3.61% per annum. Clause 14 of the contract contained the following provision:

There are different reasons for a shortage of money. Undue and sudden unemployment, a failed financial strategy or a sudden illness or disability – there are many more ways to get into money trouble than to get rich.

At the latest at the beginning of the money trouble the well-known vicious circle develops. At some point, the person has so many debts that he can no longer repay them.

Secure online loan despite KSV entry at Cashper!

A loan could pay off the mountain of debt in one fell swoop – you just pay the monthly installment for the financing. The affected person thus experiences "regulated" debt. But it is not always easy to get a loan. Especially because there is the KSV – the credit protection association. This must first get through the person in need of money.

Applying for a loan or mortgage for a house is an everyday situation these days. What customers must nevertheless pay attention to? What about digitalization in the financial sector? Can contracts today also be concluded online?

Today's society is fast-moving; this is also how it organizes its everyday life. If someone wants to take out a loan, they have to make an appointment at the bank, take their time and possibly visit the bank again – this is too time-consuming for many people. For people who have little time, there are new options today. Customers can apply for loans and mortgages online, saving them a visit to the bank. For the past three years, some Swiss banks have been offering the possibility of selecting the source of financing via the Internet and concluding the contract in a short period of time. But online it is also important to be mindful and recognize the loopholes in the contracts.

Why apply online?

By applying for mortgages and loans on the Internet, it is possible to negotiate interest rates in advance and make comparisons between the various offers at the same time. The application process is independent of time and place. The interested party can do everything comfortably from home. This saves both the customer and the bank time. Changes such as increases or extensions to the mortgage can also be made online. The time required to do so is low and the interest rates are lower for online contracts. Thus, it is possible to bypass the bank and secure sources of financing in a direct way.

When the Morandi Bridge in Genoa collapsed this summer, taking with it 43 people's lives and another 600 people's homes – all of Europe was looking at Italy. Ailing infrastructure, indebted state, newspapers wrote. The country just before the crash – just like the truck that managed to stop on the bridge just before the abyss and whose image went through the world press.

Low economic growth

In this regard, Italy has long caused worry lines on the foreheads of economists in particular. While the OECD forecasts an average of 2.1 percent economic growth for all eurozone countries, Italy is only expected to grow between 1.1 and 1.3 percent. After all – between 2010 and 2017, it was only an average of 0.4 percent per year. Italy has been the slowest growing economy in the currency zone for years, but at the same time the third largest after Germany and France.

The new government, led by Interior Minister Matteo Salvini, who has been in office since June 2018 and is in the crossfire almost daily because of his refugee policy, now wants to get down to business: The coalition partners had promised the Italian people numerous relief measures and investments at the election. The unemployed should receive basic benefits, older people should be allowed to retire earlier, and working people should pay less income tax. Gifts for Italians to make up for through consumption.

A loan despite debts is possible in principle. However, the creditworthiness of the applicant is crucial. Who has a negative Schufa entry, will usually not get a loan. In some cases, however, it is possible to get a loan despite debt. For this, however, the applicant must prove a good credit rating.

Anyone who applies for a loan despite debts must usually provide collateral. This can be, for example, a property. In addition, the applicant must prove a regular income. In the case of a loan despite debts, a higher interest burden is usually to be expected.

Also, the number of loans is not decisive. You can have 10 or 20 loans or financing at the same time. It is important that you have the necessary creditworthiness and always meet your payment obligations regularly. You should have a sufficiently high income to be able to pay the installments without any problems. Thus, you do not apply for a loan despite debts – but despite liabilities. This is a big difference. debts are securitized only by non-payment of liabilities accordingly. Pay their on time you have leidlich decided on a form of financing.

Banks are at the latest since the entry into force of the sog. Residential real estate loan guideline on 21.03.2016 obliged to check your income very carefully when granting a loan. As a freelancer or tradesman, you must therefore provide a whole range of proof of income when applying for real estate financing. We show you what documents you need to succeed with the banks.

Basis for the credit decision of the banks are usually your numbers of the last 3 full calendar years (with some few banks also the numbers of the last 2 Jahre are sufficient). If you have less than 3 (resp. 2) full Kalnderjahre are self-employed, it will be tight. Most banks will then refuse a Finnazierung, because from their point of view your income is not really sustainable.

Let's assume that you want to apply for appropriate credits in the middle of the year. Then you need the following documents for the banks:

You are a freelance artist in desperate need of fresh capital, but have often heard and read that artists generally have a hard time getting a fair loan? Admittedly: Freelancers and artists are not among the most popular target groups of German banks and commercial credit institutions, as their respective income situations can often be classified as irregular and unsecured. However, it is a myth that artists have virtually no chance of obtaining a fast, flexible and inexpensive loan for artists!

In this article, the team of KREDIT 123 discusses the topic of "credit for artists" and gives important tips and advice on how you as an artist can get urgently needed money even despite a precarious income situation and even without SCHUFA.

There are interesting ways and means to obtain a favorable loan even as a freelancer! So do not hang your head just because the first attempts did not work out! With our tips it may still work out with the fair loan for artists!

A private credit provides the customer with the opportunity to finance planned and unplanned purchases or to make extraordinary expenditures. Also for bridging financial bottlenecks the Swiss credit is used. Therefore, the costs are calculated by the bank and fixed by monthly installments or monthly payments. Monthly rates determined. However, there are also loans with more flexible repayment conditions. The costs in the form of the effective annual interest rate can be considerable and sometimes amount to up to 10 percent. Therefore, a credit comparison is useful and a consultation with a credit specialist to take advantage of, as well as our credit calculator to use.

Swiss credit – Checking creditworthiness

If consumers wish to take out a loan in Switzerland, their creditworthiness is first checked. The credit analysis serves on the one hand the security of the bank, but also to protect the consumer from over-indebtedness. By the creditworthiness check on the one hand the credit ability, but also the creditworthiness is checked. For this purpose, information on income and general financial circumstances is evaluated, as well as information on financial obligations.

Protection of consumers

In Switzerland, there is a federal law on consumer credit to protect consumers. These contractual guidelines mainly prevent borrowers from becoming financially overburdened and overindebted through a credit agreement. For this purpose, the Central Office for Credit Information, or ZEK for short, checks information on the borrower's financial circumstances. If it is found, for example, that the customer bank cards are frequently blocked, or payment deadlines are not met, the bank notice may be negative. If the information on income, tax, as well as the minimum subsistence level prescribed in the canton has been positively verified, solvent consumers will receive the loan.