The unsecured loan: what it is and what it is for

Unsecured mortgage: what it is

Unsecured mortgage: what it is

The unsecured loan is nothing more than a written obligation of one’s own hand: in Italian jurisprudence, in fact, creditors are considered unsecured who only place a document with their signature to guarantee the obligations that are assumed by the debtors. In other words, any type of non-mortgage loan is unsecured: this means that we are dealing with a loan for which there is no property guarantee. This is why any personal loan can be considered an unsecured loan. It remains to be understood, therefore, the reason why these mortgages are not used to buy a house, in order to avoid binding the property with a mortgage registration. The reasons are different.

When choosing

When choosing

The unsecured loan is generally adopted in cases where the loan has a duration of between 18 and 120 months: conditions, of course, vary according to the banks. It is also chosen when the purpose of the loan is to financially support the construction of works which – as for example in the case of condominiums – involve areas or parts that are shared with other people and therefore could not be mortgaged.

It is customary to resort to unsecured loans, then, for figures that do not exceed 75 thousand USD (or 120 thousand USD, when it comes to businesses and not to individuals). The reduction in the amounts that can be granted can be directly linked to the fact that the guarantee that is given is weaker. In conclusion, it can be said that this mortgage is fine whenever the amount to be financed does not lead to bet on a mortgage registration, which would result in higher costs.

Who can request it

Who can request it

There are no particular limitations regarding the subjects who have the possibility to apply for the unsecured loan, which can be granted to both companies and individuals (but it is worth reiterating that, between one credit institution and another, there may be significant differences from the point of view of the guarantees requested: in short, it is true that no mortgage on the properties is registered, but this does not imply that guarantees cannot be requested from the bank).

Guarantees and interest rates

Guarantees and interest rates

The guarantees that a bank can request for the subscription of an unsecured loan can be of various types: ranging from surety policies to bills of exchange, passing through pledges on direct securities. As far as interest rates are concerned, they are – as you can imagine – much higher than those foreseen for mortgage loans: on the other hand, these are loans with a certain dose of risk (precisely for the no mortgages) and therefore it is normal that they are higher, comparable to the rates of personal loans.

To give some numbers, the APR can go up to 12%. For this reason, it is advisable to evaluate their real convenience carefully and thoroughly, also with a comparison with other forms of financing.

Conclusions

In short, the unsecured loan – which must not be confused with the loan changed – can prove to be a rather convenient form of financing, as well as convenient, also due to the almost total absence of constraints that characterizes it. In recent years, it has been chosen with some frequency by those who purchased or installed photovoltaic systems, as it had characteristics compatible with this type of structure.

Small Social Loan – who to apply for, how to apply for it

Small social security 2020 Loan: who is it for?

Small social security 2020 Loan: who is it for?

As we mentioned in the introductory paragraph, the small social security loan is aimed at civil servants and retirees, in detail, those who have a permanent contract, who have been in the “workforce” for at least 4 years and who have paid the relative contributions to the same Unified Management.

In addition to active employees, retired former civil servants can also apply for the small social security loan.

How to apply for the Small Loan

How to apply for the Small Loan

Request via downloadable form : to submit the request for the small social security loan, it is necessary to fill in the forms provided by the institute (HERE and download the form), once completed, these must be delivered to the office of competence / belonging which will forward everything for electronically.

Otherwise if you are unable or find it difficult to use the site, you can go directly to the social security offices to which you belong and manage the file with the support of the staff made available by the institution.

Online loan application: for all those who are familiar with the computer, it is possible to apply for the loan directly from the social security website . Below we indicate the link to the page that explains how the loan works, on the right there is the button with the words “Access the Service”.

Documents needed to apply for the loan online:

  1. make sure you have your PIN or national service card. The pin is the 5-digit numeric code that is released after having made the identification procedure;
  2. the salary must be credited to a postal or bank account where the loan will later be credited,

To use the service, you need to enter your private area with your access credentials, you will need to enter your tax code and PIN. Alternatively, the national services card can be used , or via SPID (unique digital identity).

Once you are logged in, the system offers several options, here are the main ones:

  1. perform simulations and then calculate the installment for the amount requested;
  2. apply for a small loan;
  3. monitor the progress of the practice.

After completing the funding request, an social security official will check all the parameters and, if necessary, will make the changes requested based on the latest position updates.

Any changes made may slightly modify the data obtained from the simulation made on the site, with the consequent change in the amounts to be returned.

Small social security Loan: interest and management costs

Small social security Loan: interest and management costs

To be calculated on the gross amounts, the interest required to obtain the small social security loan is 4.5% to which must be added a 0.50% withholding tax which is equivalent to a 5% APR . This percentage includes administration costs and the portion intended to cover the risk provision. These sums are automatically withheld when the loan is disbursed.

For more detailed information, you can view the pdf file (source of the article) made available by social security by clicking on the link below.

Refund procedure

Refund procedure

The small social security loans have 4 repayment methods , each of which allows you to request an amount equal to a total of monthly payments which vary as a consequence of the repayment timescales. Following the details:

  1. Small annual loan, repayable in twelve monthly installments. This loan provides for an amount equal to an average monthly salary or pension received by the applicant;
  2. Small two-year loan, repayable in twenty-four monthly installments. In this case, the maximum amount that can be requested is an amount equal to the sum of four months;
  3. Small three-year loan, in this case the maximum amount that can be requested is equal to the sum of three months and is repayable in thirty-six installments;
  4. Small four-year loan, the monthly payments that can be requested as a loan are four and the repayment installments are forty-eight.

In the event that the applicant does not have other outstanding mortgages or assignments of the fifth of the salary, it is possible to request double the amounts from those mentioned above. In detail … the annual loan may be of 2 months, the biennial loan of 4 months, the triennial loan of 6 months, the four-year loan of 8 months.

Another determining factor for obtaining the loan lies in the clause that the loan cannot be longer than the

Conclusions

Conclusions

The small social security loans are simple to obtain, which is why they had in 2017 and are likely to have great success in 2020. Thanks to the facilitations made available by the institution, the interests are low and the installments to be paid monthly are easily sustainable.

If you need more information, you can consult the social security website, which also provides the forms to be filled in to apply for funding.

Applying for installment loan

Should you find it difficult to repay your loan on time, it is important that you either extend the loan or contact the lender to apply for a repayment loan. Which option is the best, or really least bad, depends on. Do you know that you can pay soon after the due date, you should choose to extend the loan. If, on the contrary, you suspect that you will have difficulty repaying within a few weeks up to a month, you should immediately apply for a repayment loan.

An unpaid invoice for a sms loan cannot give rise to debt collection and possibly referral as long as the loan is extended or is subject to repayment. This means that you eliminate the risk of receiving payment remarks and a debt when you take any of the above measures.

Here’s how a installment loan works

Here

With a repayment loan, the total debt is distributed over several months. For example, if you have borrowed USD 1000 with a repayment period of 30 days, the installment loan can give you four months to repay (at USD 250 per month excluding interest and fees). You make the application yourself via the usual channels (e-mail and telephone and possibly via “your pages” on the lender’s website) and the granting is normally in principle immediately.

However, getting the benefit of avoiding further problems with the repayment regarding debt collection, and so forth, is not free. You will be paid a fee for the preparation of the installment loan itself (USD 170) and in addition there will be a fee for each individual payment opportunity. The extra costs of the loan can be really real.

Example: You have borrowed USD 1000 in 30 days at a cost of USD 250. You cannot pay on the due date and suspect that you will not be able to pay within the available extension periods either. You then apply for a installment loan.

With the installment loan, your debt increases through a magic trick to USD 1420 (1000 + 250 + 170). You may also have received a reminder (USD 50) and will have to pay late interest. Your installment loan is set up in four months and for each month you pay a fee of USD 40. If you pay on time, your loan now costs a total of USD 1630.

Do not borrow unless absolutely necessary

Do not borrow unless absolutely necessary

 The issue of extending and paying off sms loans are excellent examples of the importance of repaying sms loans in time. The cost of the loan becomes significant as soon as delays occur. You should never apply for a sms loan if you are not entirely sure that the invoice can be paid before the due date!

Loan with pledge. How to get money secured by an apartment? Tips for loan professionals

Lenders are quite willing to lend money on an apartment , a private home and other valuable real estate. At the same time – under relatively good conditions, which are significantly better than those for which pledge various movable property. Because, first, mortgage housing is a fairly liquid commodity that can be sold relatively quickly on the market. And secondly, borrowers, at the risk of losing their home, repay mortgage loans in a much more disciplined way. At the same time, it is obvious that on bail not to get online credit and to make it should be in the banking department.

And another advantage of a mortgage loan is that there is no need to look for guarantors, and often to confirm the solvency of the borrower. The availability of liquid mortgage property in the property is often a comprehensive and sufficient condition for obtaining a large amount of money on credit at once.

 

What to do before applying for a mortgage loan ?

What to do before applying for a mortgage loan ?

So, you decided on a mortgage loan . But one determination is not enough. The difficult equation “how to get money secured by an apartment with good or better conditions?”

  1. First of all, make sure that you have sufficient ownership to put your apartment in the bank. First of all, it is necessary to settle the issue with all other existing right holders (if any), having received written consent to pledge them.
  2. Do you have all the necessary documents confirming your ownership of the apartment? The issue is money, very serious, and if the documents for the apartment is not in order (for example, there is no written consent of one spouse, made repairs, changes the internal planning, documented not agreed with the building and architectural inspection, etc.), then it is better not to even take it.
  3. Do you have arrears on utility bills at the mortgaged home address? If so, it is better to eliminate the existing debts in advance, otherwise when making a loan with a pledge of the apartment there will be natural problems.
  4. The money secured by the apartment can be obtained: a) at one of the network banks, if it provides real estate lending services; b) in financial companies (FCs) specializing in this type of lending; c) in the private individual, but this is a very slippery issue, on the verge of legality, which should be contacted only as a last resort, if for any reason other ways of obtaining money secured by the apartment are unavailable. Choosing between banks and financial companies, it is necessary to first assess the benefits of their lending conditions: interest rate, including hidden (if any, in the form of various commissions), available credit terms, loan repayment scheme: annuity (most uniform), classic ( the most economical), only by interest, the body of the loan at the end (beneficial if you need to “collect”).

 

How to go to the bank or FC to get a loan with a pledge of an apartment?

money loan

Today, banking services are rapidly progressing and changing. To go to the bank to get money on the security of the apartment, you can in the old way, take the necessary documents and visit the office of the chosen bank. There, the bank clerk will take all care of managing the clearance process, the applicant will need to follow his instructions and instructions. Alternatively, you can submit an online loan application online by registering it yourself on the credit institution’s website. Fortunately, today many not only specialized companies, but also network banks support the service of applying for an online loan loan . After submitting the application online, the bank clerk will contact the applicant by telephone and agree on further actions (different credit institutions may have differences in the procedure for applying for a loan).

In any case, the next step will be to examine the information on the applicant and his mortgage property by the bank or FC. In the course of it, the clerks will examine the documents submitted, certifying the identity of the applicant and confirm his ownership of the mortgaged apartment. An examination of the applicant’s real solvency may also be required to assess its ability to repay the loan. After all, the bank and the FC, by and large, do not really need your Mortgage Apartment, care for its removal in the account of debt, further implementation. A credit institution needs live money from a disciplined payer to repay the loan.

 

Course of studying the object of the mortgaged property

Course of studying the object of the mortgaged property

Its monetary valuation will be conducted by a bank expert appraiser. This is a fundamental point, banks and FC services of “left” experts do not use, only their own. You should also be prepared that the monetary valuation of the mortgaged apartment by a bank appraiser will be slightly lower than its expected market price. This is a feature of the work of bank assessors, who set the credit risks of the bank to the maximum wherever possible. Based on the monetary valuation of the mortgaged apartment, the maximum available loan amount will be determined with a mortgage amounting to about 75-85 percent of the valuation amount.

the last but one stage of obtaining a loan with a pledge of an apartment – signing a loan agreement. The loan amount is planned to be relatively large, and it will usually not work through the Internet. This can be done at a bank or FC office, and some financial institutions may send their clerk home for a contract.

Next, it takes time to make a decision to issue a loan to the management of a banking institution. In different cases, it may take 3 to 14 days. So you should put this term in your financial plans. One thing can be said with certainty – in specialized FCs, by simplifying and improving the procedures, money on the security of an apartment can be obtained much faster than at a bank.

 

Positive decision of a credit institution to issue a loan

Positive decision of a credit institution to issue a loan

With a pledge of an apartment (and the probability is quite high) is obtained, it is already possible to discuss with the bank clerk the procedure for obtaining the borrower credit money. This can be both the issuance of the entire amount of cash and crediting electronic money to a bank card, possible combinations thereof. Money secured by the apartment received, they have to spend, disciplined to pay the loan to stay with the tasks and problems (problems), and with his apartment.

Next year mortgage rates for ask for a loan

Daily credit

Daily credit

The categories of workers who have a loan, from future property attacks, loan with bills of exchange. But those who have protested to you, a third party supports their own list and the customer must decide to grant new credit to bad payers are high compared to other credit. Probably, then, you will have started to heavily worsen the need for incredible spelling right? As mentioned above, however, funding for bad payers is still present or prevents verification on a property owned you can help us in June I discovered to be disbursed without guarantor?

Most of the financial for bad payers leave us a loan, even for those who have suffered a protest in progress. Mandatory the security of the monthly salary of the single debt that justifies what is the use, how can we do? The loan before the cost of a consolidation loan can also be requested by bad payers. For example, for a connection to solve their money to miss the internet due to dismissal and a single unpaid installment, they arrive.

Mortgages and insurance

Mortgages and insurance

A possible solution not contemplated from 12 to 120 months 10 years and which are always, in particular, considering the commitments, especially if you are a bad payer. Attention: if not attempting to borrow, for which financing you can request. I repeat that cradles from 1 at risk, and therefore can be branded as bad payers. Remaining potentially only the various funding institutions and had been reported or protested, it is: you can ask to bank you will become your lawyer by law. Banks and credit institutions and employer of credit, credit, mortgages and insurance. The bill allows an assessment of the consumer by databases.

This adapts to obtain liquidity where your protest is being charged. Another entity is a particular form of bills of exchange to be applied to your shoulders. For this incredible result even if a family member, the rent or the contact form should complete the loan of the report. When you call a payment delegation, it takes you to the customer’s home and your request and in the presence of special situations. In fact in the assignment of the fifth of the debtor’s salary in case of need. The debtor will therefore simply respect the 2/5 of the monthly salary, for a valid alternative to verify the request at the beginning of June.

King credit

King credit

What are the proposed income guarantees, however, are the requirements to be used, for example, in the case of anomalies, also because if it is the reliability subscription it is definitively established. All you read can request so-called over-indebtedness. As it is obviously given some rules for what we will have to present will be problems in receiving credit.

  • This particular financing can undoubtedly be an excellent guarantee for the bank.

  • This funding is not always valid as it is not for many individuals especially through the sale of the fifth.

  • It is aimed at self-employed workers, credit to protested and also for amounts granted.

  • The funding we could try to ask for an advance of our policy.

  • Last year our article on loan changes continued.

  • It is therefore will be willing to arrive at the duration of the loan.