Monthly Archives: December 2019

Credit for relocation.

If a move is pending, then there are high costs. Moving car, deposit, possible renovation costs and necessary new furniture – sometimes these investments cannot or do not want to be financed with savings. A move loan can be a good financial aid to help you move home. Ultimately, this loan is a consumer loan that can be taken out in different ways.

Which form of credit is ideal?

Which form of credit is ideal?

Anyone interested in the loan for moving has a wide selection on the market. There are many versions to be found, from classic consumer loans from a resident bank to online loans without Credit bureau. Those who opt for the online loan often have the advantage of being able to use a particularly cheap loan offer. This is because this loan is offered by online banks.

These banks save a large pool of employees and costly branches, so they work cheaper. These savings are often passed on to customers in the form of inexpensive loans. The loan for the move can therefore be cheaper. A thorough price comparison should still be done.

However, with online credit you also have to do all the work yourself. Anyone who does not want this and also wants comprehensive advice is better off with a private bank. Anyone who relies on the loan without Credit bureau must also accept the online loan option, because loans without Credit bureau are not granted by banks in Germany.

What service can I expect?

What service can I expect?

There is a lot of competition today when it comes to moving consumer credit. The individual credit institutions outbid each other in terms of special services to acquire customers. For example, some banks offer the option of suspending at a rate once a year. Special repayment options for unexpected – or even planned – money blessings are possible if you want to redeem the loan early.

With the variety of offers and services, however, it is important to make exact comparisons of the individual providers. Special repayments and suspension of installments are not always free of charge. This particular advantage can also prove to be more expensive compared to competitive offers. The use of a credit calculator, such as that offered online on many platforms, can help to compare individual loan offers.

The comparison of different loans for the move is carried out objectively under the same conditions. You also get additional helpful information about the loan and a calculation of the actual cost of the loan. Whether the loan will be used for the move is ultimately up to the borrower, because providers do not want to be informed about the purpose of consumer loans.

Instant loan from Bank

Despite the currently favorable interest rate conditions, it is not always easy for consumers to find a suitable loan with good conditions. When it comes to fulfilling important framework conditions, the apparently huge amount of loan offers on the German credit market is enormously thinned out. A quick instant loan is currently available from Germany’s largest bank, Lite Lender Bank .

The majority of all those interested in credit need the instant loan to fulfill a consumer wish. A new motor vehicle, a tasteful home decor or the long-awaited dream vacation, each of these wishes can be realized at short notice with this type of loan. By choosing an appropriate loan term, the amount of the monthly installment can be determined by the applicant himself. If its creditworthiness is also sufficient, quick and uncomplicated processing is no longer an obstacle.

Cheap financing

Cheap financing

With transparent terms, Lite Lender Bank offers a cheap financing model with an interest rate of 3.99 percent. From a financing sum of 1,000 dollars, interested customers can apply to the bank and increase the amount up to a maximum of 75,000 dollars. Like the majority of all currently available offers for the financing of expensive purchases, Lite Lender Bank does not offer its customers dedicated loans. In addition, the term can be flexibly determined by the customer between 12 and 84 months. The elimination of the earmarking and the option to flexibly determine the term make the offer from Lite Lender Bank value-adding option.In addition, there are no requirements regarding the amount of the monthly repayment rate. In financial emergencies, for example, borrowers can apply to the bank to suspend payment in installments so that they can initially meet other liabilities. Customers who, due to special circumstances at the beginning of the loan contract, are unable to start repaying immediately, can arrange a payment break of up to six months with Lite Lender Bank .

The Bank also check creditworthiness

quick loan

Like every credit institution in Germany, Lite Lender Bank also checks the applicant’s creditworthiness. A poor credit rating in the form of unemployment, other payment obligations or a negative credit bureau entry can result in an increase in the interest rate or even a complete rejection of the loan application. It must also be demonstrated that the applicant has a permanent place of residence in the Federal Republic of Germany. This proof is usually provided by presenting a valid ID card. If the loan application is approved, the agreed amount will be paid out by Lite Lender Bank  to the customer or to the specified account on the same day.In special cases, repayment of the loan does not have to begin until the seventh month after receipt of the loan amount received.This means that the entire range is extremely flexible.

Cheap renovation loans for your modernization

Cheap renovation loans for your modernization

The facade is crumbling, it is raining through the roof, and the heating costs of last winter have brought tears to your eyes? Clear case: Your house has its best days behind. No reason to order the wrecking ball. Renovation is often worthwhile to bring the building back into shape. You don’t have to pay for it out of pocket. There are three types of credit to choose from:

  1. A dedicated renovation loan
  2. A home loan
  3. A normal, non-earmarked installment loan

In the following we present all three variants with their advantages and disadvantages and show which loan suits real estate owners best.

    The renovation loan: easy to get, good conditions

    The renovation loan: easy to get, good conditions

    Because the granting of a renovation loan is linked to your existence as a property owner, you receive cheaper interest than with a normal, free installment loan. The following points speak for the restructuring loan:

    • The application is easy: you just have to show that you own the property. A cost-causing entry in the land register is not necessary.
    • The possible funding amounts start at around 5,000 dollars and end at 50,000 dollars.
    • You are free to choose the measures for which you want to use the funds from the restructuring loan. When granting the renovation loan, it does not matter whether the property is still burdened by debts.

    By the way: It doesn’t matter whether the loan you are applying for is called a renovation loan or a renovation loan. Each bank uses its own name for this. It is one and the same loan product, namely an earmarked installment loan, which is only intended for property owners.

    What should be noted: Some banks define the requirements for renovation loans or renovation loans somewhat more strictly. It may be the case that you not only have to provide a land register extract but also an action plan or cost estimates before approval. In some cases, the institutes want to see invoices afterwards with which you have to prove the use of the money. In return for the stricter rules, you often get even cheaper interest. If you prefer your independence, choose banks that set looser rules for restructuring loans when choosing a bank.

    Refurbishment with construction finance

    Refurbishment with construction finance

    As a property owner, you already had construction finance to buy your own home years ago. Now you want to renovate or renovate your house. So the idea is obvious to simply take out another building loan. After all, interest rates for this are currently unbeatably low.

    However, the barriers to entry are all the higher:

    1. A bank only grants you further mortgage lending if your property is practically debt free. A limit of at least 80 percent often applies here. If this is the case for you, you can take out a second building loan, provided your plans meet the following requirements and have an added value on your property.
    2. As a rule, only those measures can be implemented via further construction finance that have a value-enhancing effect on the property. Many renovations (eg new wallpaper, new floor coverings) only serve to maintain and maintain the value of a property. However, most of the larger measures, such as new insulation, a new roof or new windows, are often accompanied by structural changes, and this is usually associated with an increase in the value of the property.
      Why is the difference between preserving value and increasing value so decisive? Because a bank wants to see collateral in return for every cent it lends you for a home.
    3.  
    4. A simple renovation or new furniture has no significant intrinsic value and at most contribute to the value retention of the property. That is why you cannot usually co-finance these things. Assuming that you would need around 20,000 dollars more for furniture, the bank will offer you an extra installment loan. It then equips them with higher interest rates to compensate for the higher risk. However, measures such as renovations are usually considered to add value. The new heating or the new windows increase the value of the house. How much you can co-finance through construction finance depends on the bank. Refurbishment sums from 50,000 dollars upwards are common. However,

    If, despite everything, construction financing is an option for your project, you still have to weigh it up: a building loan is cheaper in terms of interest than a renovation loan, but it is also more complex to process. As with the purchase, a land register entry must be made via the notary, which causes additional costs. Our land register calculator shows you what to expect. If you look at these expenses, a special-purpose installment loan is often the better, because uncomplicated, alternative for property owners.

    Refurbishment with a normal, non-earmarked installment loan

    Last but not least, you also have a free, non-earmarked installment loan. This is the most straightforward option when it comes to application procedures. You do not have to submit a land register statement, and ultimately the bank does not care what you use the money for. As a consequence, you also have to pay the highest interest for a free installment loan compared to a home loan and a dedicated installment loan. From a purely financial point of view, a dedicated installment loan is therefore more worthwhile for property owners.

    Refurbishment loans: Find the best easily

    Refurbishment loans: Find the best easily

    Extensive renovation or renovation requires good planning: from the commissioning of an appraiser to the organization of craft businesses and service providers to the application for the appropriate loan. Our installment loan specialists are at your side: in a personal discussion, they clarify which measures you have in mind and find banks that have exactly the right loan for them. The consultants will also accompany you through the entire application process.