I Am in Default, Can I Get a Credit Transfer?

Perhaps, you are trying to start from scratch with a new bank , get benefits and forget about difficult times requesting a credit transfer. Cool. Let me give you some advice.

Many things can happen during the term of a mortgage loan. Difficult moments. A bad business, changes in family structure, a disease, loss of employment. Situations that have forced us to stop paying the monthly debt installment . Of course, we are always looking for solutions. Will a mortgage loan transfer be a good idea in these cases?

As a mortgage loan broker I have good experiences in transfers. I will tell you when they work and when they don’t. Let us begin.

When is it a good idea to ask for a mortgage transfer?

mortgage transfer?

I always ask my clients to remember that credit is a living business, susceptible to changes. During the life of the credit, circumstances may arise that can improve the business and offer you significant savings. It almost always occurs when the interest rate is lower than the one approved in the initial credit .  

This happens due to several factors:

1. The conditions of the country have changed and banks can lend cheaper than before;

2. The conditions of the financial system have changed and there is greater competition among banks ;

3. The conditions of the borrower have changed and have better negotiating arguments.

S in any of this scenario, it is a real pleasure to study each case and see what options you have and what bank will be your best choice.

What ensures that I will have a better rate with a mortgage transfer?

 

When is it not a good idea to request a mortgage transfer?

When is it not a good idea to request a mortgage transfer?

H ay situations where it is not a good idea to request a transfer. This operation requires time to organize the documents and generates a good dose of adrenaline. It is best to check if you are in this s c nyone just before making the request:

  • You have many debts .
    You use almost all the credit card quota, you have another debt with a box and a credit with which you bought a new vehicle. You pay them all, you don’t even know how, but you don’t have a free sun. Perhaps, it is better to wait until you release your debt quota a bit and improve your prospects as a low-risk customer.
  • By chance, have you breached your commitments? Are you reported in the Risk Center?
    This is not a good time to request a transfer. The transfer does not resolve these situations. Why? Let’s go back to the beginning. A transfer is requested to improve business conditions. If the bank evaluates that you are a high-risk customer , it could offer you a higher rate than what you have today, that is, you would end up paying a higher fee and a more expensive credit. Who wants that? Even worse, the bank will most likely reject your transfer if you are reported to the risk centers.

If this is your case, my recommendation is simple. Organize your expenses, refinance your debt with your bank and start clearing your credit history. Pay your fees fully and in a few months you will be able to think again about a transfer of your credit.

Online Credit, Solution for Problems With Cash Flow

All companies may face, at some point, cash flow problems.

The disadvantages can originate in ups and downs in income, sudden expenses, late payments, among other diverse causes that it is important to know, to find them a solution before they occur and lead to serious financial problems.

 

Insufficient income

Insufficient income

In economic matters, it is a more or less true fact that emerging companies incur losses during their first year and sometimes during their second year and as they adjust to market flows.

It means that inaccurate calculations can be made in the hiring of personnel and the corresponding payroll payment; missing equipment; need for advertising and adjustments in production processes. Consequently, money is needed to solve the needs and take advantage of growth opportunities.

 

The expected money does not arrive

The expected money does not arrive

The companies that work by contract can find themselves in difficulties if their payment is delayed, either because the contractor had any inconvenience or because there are missing details to comply with the terms of the contracted work. The lack of money has an impact on the payment to the employees, the purchase of materials, the payment of the rent and even the provision of gasoline to drive the vehicle.

 

General expenses

General expenses

If the expenses in the electronic invoice, the rent of the premises or the payment of public services are higher than the income of the month, the company can get into difficulties.

 

Excessive inventory

It is not good to have too much inventory, when you are a merchant or manufacturer, it can result in a quantity of merchandise in the warehouse that is not sold as quickly as expected. And if it is not sold, at the rate of acquisition or manufacturing, there will be no availability of cash.

 

Sell ​​on credit

Sell ​​on credit

Credit sales are an excellent initiative for customers to buy more. But if the credit is too much, the waiting time is extended to have money with which to make more purchases.

 

Seasonal changes

Seasonal changes

In the United States, sales and work fluctuate according to the season. There are seasons when income is high; but there are also those in which the income is low and even non-existent. The execution of an annual budget helps to avoid liquidity statements, during the seasons of low sales or low demand for work.

Entrepreneurs must keep in mind the mechanisms that exist to avoid critical situations due to the lack of cash flow; But we are aware that, on many occasions, financial support is needed, so that the business continues to function.

In LONDOS we set out the mission of supporting and training small businesses that are in trouble with cash flow, with smarter financing solutions .

We put at your disposal credit lines with low interest rates, through a simple procedure: the entrepreneur fills out the form on our website and we contact you, by email.

Through this procedure – which includes an evaluation of the business project – the interested party can acquire a credit online with us to manage all these unforeseen expenses.

Home loan for young married couples

What conditions must be met to get a home loan for a young couple? Banking institutions require some basic criteria from potential customers before they withdraw cash. Of course, everyone would like to know what conditions they would have to meet to get a dream loan for a home for young married couples.

It is not that easy, especially when it comes to high amounts, such as PLN 300,000 or more.
Young people would like to live in the best conditions. If they already have children, they must provide them with adequate space and good living conditions. That is why they need a home loan for young married couples. Sometimes they apply for a high loan amount.

How can they get it?

Of course, the most important is the amount of earnings of people who apply for a loan, as well as the contract they have with the employer. If potential clients have a contract of indefinite duration, as well as a salary of at least the national average, they have a chance to get a loan for a home for young married couples.

However, these are not all the criteria that the bank pays attention to before deciding to accept a loan application. A very important issue is any obligations that potential borrowers already have, such as other loans, installments or leasing cars. To get a home loan for young married couples, clients should have as few debts as possible. As a result, their creditworthiness will be greater and at the same time the chances of the bank accepting the application and obtaining the desired loan will increase.

Young people sometimes forget and, knowing that they have high earnings, decide on a large loan for a home for young married couples. They think that they will always earn great money, but the reality is not always so rosy.
It often happens that the borrower loses his job or his earnings decrease. Unfortunately, the installments do not decrease and are still just as high. In this situation, a home loan for young married couples can become a heavy burden. It is worth thinking about this in advance, even before deciding on a large loan.

People who want to buy a house or a flat have a very serious decision ahead of them. When they are able to find the perfect property, it’s time to go to the bank and take a loan for a home for young married couples.

Where can they find the best offer?

Where can they find the best offer?

How can they find the most favorable loan so that they don’t have to pay back very high installments? There are several ways to find the best offer. One of them is a visit to a credit advisor who will advise you on which bank can give your clients the best home loan for young married couples. Another way is to use the internet, for example, a credit comparison engine that has proposals from many banking institutions.

The most labor-intensive, but at the same time effective, solution is to visit several branches of popular banks yourself. An individually prepared offer may have more attractive conditions. Thanks to this, clients can get a favorable home loan for young married couples.
Before potential borrowers decide on a specific offer, it is worth having a look at various bank offers. They will have a comparison and choose the best offer, which will save them. They should spend a lot of time before making a decision and signing a contract with a specific bank.

When taking out a home loan for young married couples, borrowers must be ready to pay off long-term installments, which can be very high. When deciding to take out a loan, young people find out what amount they will have to pay the bank each month. This extra cost can be a heavy burden to bear. Unfortunately, if the loan for a house for young married couples was high, they will probably pay it back for many years.

Some people decide to get a loan for 30 years, which is a huge commitment!
People who are forced to take out a loan to buy real estate should think about it well and think about what housing would be sufficient for them and would meet their needs. Perhaps a high loan for a home for young married couples will not be a necessity and a small loan will suffice?

In this way, the family could save themselves the trouble of high installments, and the money saved will certainly be useful for another purpose. High credit for a home for young married couples should be a last resort, but despite this, many people decide on it and have to pay large installments.

Erroneous cancellation policy for real estate loans

Wrong cancellation instructions for real estate loans

Wrong cancellation instructions for real estate loans

No prepayment penalty on termination of loan; Cancellation with footnotes is wrong. the right to revoke the loan agreement was wrong.

Free review of your cancellation policy by a specialized bank and capital markets lawyer Deduction of real estate loans and other loans after 21 June 2016 very often possible: With real estate loans completed after January 1, 2010, withdrawal is still possible today. In the event that a withdrawal from the loan is possible.

Consumers should now be reviewing costly lending and credit from a specialized lawyer for revocation. According to a study they have good prospects of revoking and terminating their loan agreement years later. The reason for this is that the unrestricted cancellation joker is no longer valid according to a law of the government from 21 June 2016.

This concerns real estate loans taken out between 2002 and 2010. Do not hesitate and now draw the payout Joker. There is a good prospect for borrowers, especially in real estate and consumer loans, that you have a not inconsiderable legal right against the house granting the loan. It is since the BGH judgment of 01.03.2012, Az. III ZR 83/11, sure that a wrong cancellation policy can not put the deadline in force.

In this respect, all loans completed since the deadline of 31 December 2002 may be terminated if the cancellation policy was incorrect. According to a survey by the consumer center Hamburg, 80 percentage points of 1,800 audited letters of credit were wrong in their withdrawal instructions. Due to the continued possibility of revoking the loan, bank customers can still withdraw from the contract today.

Reduce the interest charge on “old loans”

Reduce the interest charge on "old loans"

This is useful, for example, to reduce the interest charge on “old loans” by revoking the possibility of concluding a new loan agreement at the currently very favorable interest terms. In the event of a mistake in the cancellation policy, the bank may request the return of the prepayment penalty paid. The top 10 banks were talking about wrong cancellation instructions for loans:

It is therefore advisable for the bank’s clients to have the option of revoking their loans through a specialist bank and financial lawyer. Your credit agreement and your termination policy will be checked by us free of charge, simply and promptly. You will be informed in a transparent manner about the expenses incurred and whether the opposition pays off for you. For the revocation check and the written initial consultation, which also includes the application for coverage with your legal expenses insurance, you can reach us via the contact form or by e-mail.