Stop being ripped off on the credits!

1) the application fee

The fee allows the lender and / or broker to pay. They vary from one institution to another and capped at € 915 approx.
They are capped at € 450 for a P.A.S. and P.C..
They are zero for a P.E.L. and a loan 0.
If the loan offer is refused, the customer does not pay the application fee.

The fees are negotiable, especially if you have a good record.
But the most important part of your loan offer is the APR (Annual Percentage Rate). This is mandatory on your loan offer is included the fee. It is he who will tell you all inclusive, what is the best offer.
When negotiating, you have to set priorities.
If you win on the fee but lose on the rate, you will not necessarily be the final winner.
Choose your priorities: the lowest or prepayments without penalty or fees negotiation.

2) Benefits

This is for the financial institution that lent you to charge you a penalty for early repayment of credit (you did for twelve years and the balance you want after 7 years)
Penalties at a prepayment to the lender is 6 months interest capped at 3% of capital outstanding. The details of the redemption are included in your loan offer.
However, for loans from 26/06/1999, the law prohibits the payment of penalties if the property is sold following:
• a job transfer,
• Unemployment of one of the borrowers,
• death of a borrower.

In the case of a loan revisable capped, it should not be any penalties for early repayment. However, it is necessary to check the clause in the contract.

Severance payment may be negotiated in order to be exempt. In the event of a win-win relationship, do negotiate the penalties if you really think that during the term of the loan you will be asked to prepay. If not, point out that you do not negotiate penalties and focus on other issues.

3) Insurance

The loan insurance is compulsory and covers death and total and permanent disability. This insurance required by your credit, is designed to protect your heirs who will find themselves relieved of the burden of repayment in case of problems. It may also cover the temporary disability or unemployment, these guarantees are optional. Specifically, if the problem is that the insurer takes over to repay your credit that you still owe.

The credit rate offered by your organization depends on the markets and also fluctuates depending on the bank. However, generally it includes the cost of insurance ... Few tenths of a point less can make you realize substantial savings and allow you to borrow more capital. Go ahead and compare!
Any offer of mortgage shall state that if the disability life insurance (death benefits, IAD, ITT, IPT, unemployment) may be required by the lender, the borrower has the option of insurance.
The economics of insurance is not negligible it can reach 50% compared to the body or you have purchased your credit is up to € 7,000 saving for a loan of € 100,000 (30-year loan) .

4) the amount of monthly payments

The monthly payment of a mortgage or consumer loan or a purchase of receivables is an essential first act of purchase or subscribe for a loan.

The life of a credit is governed by monthly installments of repayment that is due to creditors (credit agencies, banks). The monthly payment must match your income and financial resources: it must not exceed a cap or ceiling. Your debt ratio should remain below 33%.

Monthly credit for consumption:

The monthly consumer loan are often high because the repayment period not exceeding seven years. Plus the amount of personal loan, the higher monthly installments are strong. Monthly payments of cash reserves and other revolving loans are quite low because the amounts borrowed are low. The interest rates of such loans are high: about 20% teg (near wear rate).

Mortgage:

The mortgage is a special loan for its duration is long repayment can be spread over 30 years or 40 years almost a lifetime to pay off debts. Before signing any loan contract, check that your real estate investment is the best possible interest rate fixed or variable or adjustable, capped or not capped, fees, duration of the loan, mortgage or without warranty mortgage, the amount of monthly installments, fee or penalty?