Why is it the right time to take out a home loan?

It was never this cheap to take out a home loan this year. Anyone who receives a number of discounts sees a drastic fall in interest rates.

A recent survey by Century 21 private Union has already shown that the end-of-year period is causing a huge peak in home sales. In December an average of half more houses and apartments are sold than during the other months of the year.

Realize new projects

real estate

According to the real estate group, the start of the new year is accompanied by new projects. “A lot of people want to make the decision quickly at the end of the year. For the real estate agents it is also the last few weeks to reach their ‘targets’ of the year, which is why they are doing a little more in the last 14 days, ”it sounds.

Low-interest rates

Low-interest rates

But there is another explanation for why home sales are on the rise this month. The interest rates on mortgage loans are in fact particularly low. It has been more than a year since it was so cheap to take out a home loan.

The cheap rates are due, among other things, to the low-interest rate, bonds issued by the Belgian state. The private lender looks at the interest rate in ten years to determine their rates. And that is now at a very low point with 0.56 percent.

Cheap housing loans

According to the latest figures, you pay an average of 1.99 percent today for a twenty-year home loan, including all discounts. Those discounts vary from a private lender

For the majority of borrowers, you will receive a discount on the rate if you open a current account with the private lender, direct your wages with the private lender and/or take out the necessary insurance policies with the private lender or the affiliated insurer.

Borrow a limited amount

Borrow a limited amount

Furthermore, the lenders are prepared to take the knife even deeper into the rates when you borrow a maximum of 80 percent of the market value of your home.

For example, anyone who takes out a loan with the internet private lender pays a standard rate of 2.05 percent over twenty years. If you can finance 20 percent of the home yourself, the private lender lowers the rate to 1.73 percent. This makes the private lender one of the cheapest players on the market.

Compare private lender

Although the traditional players are also prepared to firmly cut interest rates. Although in such a case you have to play the private lender against each other. Our earlier research has already shown that Belgians have saved up to 16,000 dollars by negotiating rates.

 

How much car loan can I get?

 

Do you dream of a new, delicious car and look with skeptical eyes at the dizzying price? Before you dream further, it’s a good idea to think about how big a car loan you can get.

In principle, you can borrow up to several millions if you want a large car loan. However, it depends on you as the borrower how much money the bank will lend you. The size of your car loan further depends on several different factors.

For example, your personal finances, what kind of car you want to buy and the age of the car are all factors that define how big a loan you can and should get.

Link between personal finance and car loans

Link between personal finance and car loans

Your personal finances can have an impact on how much money you can be allowed to borrow. It depends on the credit rating that the bank makes of you in connection with your car loan.

If the bank considers that you have a sound private economy, they will be more likely to give you a large car loan. The assessment is based, on the whole, on the chance of the bank getting its money back. Another thing that can help you further is if you have the money to be able to pay the payment of the car that you would like to buy.

Big Loan – Big Payout?

Big Loan - Big Payout?

It fluctuates how big a payment you have to be able to pay. A rule of thumb says you should be able to pay 20% of the purchase price, that is, the total price of the car. This means that if the car you want to buy costs USD 100,000, then you must have USD 20,000 available before you take out the loan.

A savings earmarked for car purchases and loans shows the bank that you are a responsible debtor and that you are more likely to be able to repay the loan. Many banks and especially many auto dealers require that you have the capital to pay out before they will negotiate for large car loans.

Possibility of large car loan without payout?

Possibility of large car loan without payout?

There are many creditors who will offer you large car loans without disbursement, but as the same loan is not provided to the loan provider, there may be other conditions that you need to be aware of.

For example, there may be various fees and expenses associated with large car loans. In that regard, it may be helpful to have a look at the OPP, which shows you how expensive the loan will be for you. Most loan providers can offer you a loan of up to USD 300,000 if they consider that your finances are suitable for this. 

Big car loan tips

Basically, the banks are willing to give you a bigger car loan if your plan is to get you a new and thus expensive car. This has something to do with the impairment of the car.

A new car decreases in value more slowly than a used car. That way, the bank has a security in the car if it should end up that you cannot repay the loan. You should at least be able to settle the debt in the car as quickly as the impairment of the car.

The loss of value depends on two factors, the age of the car and the number of kilometers the car has driven. On average, a car loses 16-25% in value per year in normal use. Normal usage means you are driving between 15,000 and 20,000 km. per year. For example, if you buy a car for USD 300,000 and drive it normally, then the value of the car after 10 years will be assessed at USD 32,212.75.

If, on the other hand, you want to buy a used car for less than USD 50,000, it can sometimes be better to take out a consumer loan or quick loan. In the event that you are in urgent need of a car, consumer loans or quick loans may be advantageous as they are quick to apply.

How To Get The Largest Car Loan Cheapest

Before you fall head over heels in a new shiny car, it’s a good idea to find out how big a car loan you can actually get. That being said, there are many different providers and banks that can offer different loans with different interest rates.

It can be a jungle to find around and it can be hard to figure out where to get the biggest car loan cheapest. Therefore, here you will find a guide to large car loans and what different options you have.

We present: The bank loan

 

For a loan, you can benefit from a convenient and simple online application. Good service and competent, customer-friendly advice are guaranteed at Lender bank. If you choose a loan, you have numerous options for a loan model tailored to your needs. The term varies between 12-84 months and can therefore be applied for very flexibly and adjusted to the loan amount.

Advantages of applying for a loan online

Advantages of applying for a loan online

The online application not only offers the advantage of applying for the loan quickly and easily, but also ensures that the decision is made quickly. The online loan is characterized by favorable terms and a free choice of the loan amount and the term. It is worthwhile specifying the purpose of the loan amount, as this has a positive impact on the granting of credit.

The interest rate for the online application depends on the creditworthiness and is therefore very flexible. Applicants with excellent creditworthiness benefit twice from a loan. You have the opportunity to easily apply for high loan amounts and receive a very low effective APR, which makes the loan model very attractive.

How do you apply for a loan online?

How do you apply for a loan online?

The forms for the application can be found on the homepage and are filled out and sent. You will receive information about your loan and the approval of the requested loan amount within a short time. If you do not need advice and are familiar with loans and value quick and uncomplicated granting, you are very well advised with an online loan. The loan amounts for an online application range from 2,500-40,000 dollars and are therefore attractive to everyone.

This credit model is not granted to the self-employed. The basic requirement is a permanent position in a company and a regular income, which can be proven by means of wage notices. In order to get the online loan granted, the payment amount should be chosen realistically based on the monthly disposable income. This is how you signal to Lender bank that the repayment of the monthly installments poses no problems and can be met by the monthly fixed income.

The perfect loan for urgent customers

The perfect loan for urgent customers

If you need a quick loan and value good terms, loan is on the right track. The online application is processed very quickly and convinces with optimal conditions and great flexibility in the repayment of the monthly installments.

You decide on the term and thus the amount of the monthly repayment and can therefore adjust the repayment to your income and financial situation. The advantages are clear.

How much do you save when the private lender lowers the interest on a loan?

Who takes out a loan at the right time can save a lot of money. But how deeply does the price tag drop when a private lender changes the rates?

Those who want to renovate a home, or have a beautiful car in mind, can turn to a private for a loan. But when such purchases are not urgent, it may be interesting to defer such a loan. For example, it can be lucrative to wait until the motor show when you want to take out a car loan.

Some private lenders, then firmly cut interest on a car loan. The private lender remains the cheapest player in terms of car loans to this day. Renovators can then do the gold business again during an event. But how much can you save if you take out a loan at the right time?

Biggest drops with renovation loans

loan graph

In the past year, we have seen the largest landslides on the renovation loans market. Last February, some private lenders significantly reduced the rates. Some have since maintained or even reduced the rates.

One of those private lenders who cut interest in a renovation loan is local banks. Anyone who took out such a loan with the large private lender earlier this year paid 2.95 percent interest. Whoever does that today pays 2.7 percent, or 25 basis points less.

How large is the saving?

savings

But how much exactly do you save? Suppose you borrowed 10,000 dollars a few months ago and repay that amount within 48 months, you have to pay 220.95 dollars a month.

The private lender then pays a total of 605.6 dollars in interest. Anyone taking out the same loan today pays 219.87 dollars a month. That may seem like a negligible difference, but at the end of the journey, you will save 51.93 dollars.

The more you borrow, the greater the saving. For example, those who borrowed 20,000 dollars (in 60 months) when the rate was still 2.95 percent pay 358.58 dollars each month, or the private lender owes a total of 1514.8 dollars in interest.

Anyone taking out the same loan today pays 356.42 dollars a month. Of that amount, 1385.20 dollars flow to the register of the private lender. That means you save 139.6 dollars in that case.

Biggest differences with a private lender loan

money percentage

The differences become even more striking when we look at the reductions that private lenders implemented earlier this year. At the start of this year, you paid 6.4 percent interest when you took out a renovation loan with the private lender of the Belgian postal company. Today that is 2.99 percent. This puts the private lender in the middle bracket.

The saving compared to a year ago is indeed huge. For example, anyone who today borrows 15,000 dollars from the private lender and repays that amount within 60 months pays 269.19 dollars a month.

At the end of the ride, a private lender is 1151.40 dollars richer. Anyone who took out a loan when the rate was still set at 6.4 percent pays 291.53 dollars a month, or the private lender owes 2491.8 dollars in interest. That is a difference of 1340 dollars.