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Maxicredit Experience – is Maxicredit Serious? What Role Does Loan Rating Play?

When it comes to taking out a loan, many like to build on the experience that other borrowers have already made with the corresponding offers.

We would like to take a closer look at the Maxicredit experience that the network generally holds. Because Maxicredit is one of the leading providers of personal loans, which are very important for many consumers.

Who is Maxicredit?

Who is Maxcredit?

In order to properly understand and classify the Maxicredit experience, it is important to know who or what Maxicredit is. Go to the website of Maxicredit here: www.Maxicredit.de

Maxicredit is a platform where private loans are brokered. This means that no bank is behind Maxicredit and provides the money for the loans, but private lenders who invest their money there and receive a corresponding return for it.

Maxicredit thus acts as an intermediary between private investors and borrowers. For a small fee is required, but this must be paid only when it is finally come to a credit agreement. The fee is then included in the effective interest rate and does not have to be paid separately.

An important aspect, which also plays a major role in our Maxicredit experience, is the fact that Maxicredit offers credit even if the creditworthiness of the prospective customer is somewhat weaker.

What role does credit rating play?

What role does credit rating play?

Even though that sounds very good now, our Maxicredit has shown that not everyone automatically gets a loan from Maxicredit who wants it. For between a weak credit rating and a weak credit rating worlds can be known. The intermediary therefore looks very carefully in the interests of its lenders, who applies for a loan and what conditions can be presented. For there is nothing given away there either.

A negative private credit – often a reason for rejecting the traditional banking houses – can certainly lead to a loan at Maxicredit. However, only if a firm and high income is available and the negative private credit not only a bankruptcy or similar was caused.

On the other hand, lack of income and other collateral that can not be proven will not provide credit. In such cases, the credit rating would be too bad, resulting in a high risk of default and therefore not interesting for private investors.

Maxicredit experience – apply for credit

Maxcredit experience - apply for credit

In order to apply for a loan from Maxicredit, you have to register with the provider. Registration is free and without obligation. In addition, a profile must be created. Personal as well as economic data must be deposited. It is important that the information corresponds to the truth, as it must be documented afterwards. Cheating therefore brings nothing and will not lead to the desired credit.

Once the loan has been entered, Maxicredit looks to see if enough funds can be found. If this is the case, there is a credit agreement. If this is not the case, the loan must be sought elsewhere. The Maxicredit experience shows that people with a good credit rating have significantly better chances of getting a loan than people with a bad credit rating.

It is recommended to order not too high credit sums. In addition, it should be possible to specify what the money should be used for. This helps the lenders in assessing whether a loan can be granted or not.

Advantages and Disadvantages of a Bank Loan

Banking Loan

Banking Loan

In the banking loan operation, a financial institution grants an amount of money to the company in exchange for the payment of interest, contractually establishing the form in which the company will have to return the loaned capital and pay those interests. Financial entities usually require some type of personal guarantee (the global assets of the company or a third party) or real (a specific movable or immovable property), which strengthen the operation, this being one of the main difficulties they face Applicant companies, especially the smallest or the most recent ( startups ). In the event that the loan includes a mortgage guarantee, in such a way that its return is secured with a real estate property, it will be necessary that the corresponding contract be executed in a public deed intervened by notary public.

According to the interest rate, there are fixed rate loans, in which the rate remains fixed and constant throughout the life of the operation, and variable interest, which is likely to rise or fall depending on the evolution of some indicator that is taken as reference, as. for example, the famous Maxibank.

The return of the loaned capital and its corresponding interests is made through amortization installments, which according to the form in which they are paid originate different methods of repayment of the loans, being the most usual the following three:

  • Single installment, where both the settlement of interest and the return of capital occur at maturity through a single payment. It is the simplest amortization system, used mainly in short-term loans, which I will analyze below.
  • Variable fees, where loans are amortized by variable installments in geometric or arithmetic progression.
  • Constant installments, where loans are amortized through constant installments. It is the most common method, known as the French system, where capital is amortized on an increasing basis, while interest decreases period by period. It can be used in both fixed rate and variable rate loans. If it is a fixed rate, all quotas will be constant and equal, while if it is variable, the quotas will remain constant in the period that elapses between a revision of the interest rate and another.

From a business point of view, a distinction is made between loans granted in the short term (less than one year), which are used to finance cash offsets, being an alternative to credit accounts, and long term (more than one year), which are used to finance non-current assets (for example, the purchase of a machine or a computer). The negotiation with the bank in both cases is different.

In short loans, the bank will value that the money will be used to finance treasury and not for another purpose. In the second case, in the long term loans, the cash flow (charges minus payments) that will be able to produce the concrete good that is acquired will be analyzed, which will condition the repayment of the loan and should be adapted as far as possible to the agreed amortization calendar. If the non-current asset to be financed is not of a productive nature, as is the case, for example, with an investment in facilities that fulfill the function of offices, the cash flow to be considered will be the general of the company, which will allow the repayment of the loan under the agreed conditions.

Regarding the main advantages and disadvantages of financing through a bank loan, I can think of the following:

Advantages of bank loan:

Advantages of bank loan:

  • It allows financing the acquisition of a good at one time.
  • The forecast of the payments to be made is relatively simple, due to their amortization through periodic installments.
  • It allows to know at all times the living debt that remains with the bank.

Disadvantages of bank loan:

Disadvantages of bank loan:

  • It obliges to determine with exactitude the amount of the funds that are requested, on whose total amount interest will be paid.
  • It is not possible to reuse the funds once they are used, unlike what happens with the credit account.
  • As a general rule, it is necessary to provide guarantees that guarantee the amount borrowed.

 

 

Loan Without German Citizenship – it’s that easy | Loan Options

It is very difficult to get a loan without German citizenship. Even if the seeker is registered in Germany and has a permanent residence here. How the loan can be implemented in spite of all, they learn here.

That’s how it looks right now

That

A loan without German citizenship seems almost impossible at first sight. The banks simply require German citizenship when borrowing. It must be proven with the help of an identity card or passport.

Despite all this, citizens without German citizenship can apply for credit here in Germany. And the banks and savings banks must not refuse this application from the outset. Because that prohibits etiquette. But in the end it usually comes down to rejection, which of course is always very hard for those who really need it.

But there is also a bright spot. Because a little bit always decides the country from which the loan seeker comes from a lending. For example, those who are domiciled within the EU must be able to borrow in Germany. That is what EU law provides. But those who come from a country that does not belong to the EU have to make do otherwise or hope for the favor of the banks.

Credit without German citizenship – requirements

Credit without German citizenship - requirements

In order to be able to benefit from a loan at all, foreigners must be able to meet the same strict conditions for borrowing as all other potential creditors. This means that in addition to the permanent residence in Germany always a German bank account must be presented. In addition, the prospect must be at least 18 years old.

It is also important that a fixed income is given. The employment contract should be indefinite, so that optimal conditions are met. The same applies to the residence permit in Germany. Again this must be indefinite, so that sufficient time for the repayment of the credit exists.

Credit without German citizenship – loan options

Credit without German citizenship - loan options

If a credit due to the wrong citizenship is not possible, it can only be started with a little trick. It would be possible to arrange the loan with the help of a second applicant. However, this second applicant must have German citizenship and be solvent on top of that. Good friends could therefore help to ensure that the desired loan can still be set in motion.

It would also be possible to simply borrow the loan as a consumer loan from a dealer. Such installment payment agreements are provided in large numbers via the Internet. The traders only check the address and the private credit, and if there are no abnormalities, the loan can be taken out. Even if no German citizenship exists. Because this is not checked.

A difficult way

A difficult way

It is therefore relatively difficult to get a loan without German citizenship on the way. But with a few tricks and adjustments everything is possible.

Our tip: Small loan amounts are always easier to implement than large loan amounts with a long term. Therefore, as a loan seeker, you should always show modesty and not ask for more than you can. This increases the chances of a loan and secures the planned project.

What is a Mortgage Loan and its Characteristics?

First of all, let’s say that the mortgage loan is a long-term credit product, the beneficiaries are those over sixty years who own a residential property, to which they have access to a loan of a certain amount agreed with the bank or some other intermediary financial. The sum must be repaid after the death of the beneficiary, or through the heirs or through enforcement.

In short, the mortgage loan is a possibility to obtain liquid capital from your home (or in any case from another residential property owned) in old age. The capital as mentioned above, will then be returned after the death of the beneficiary or of his spouse or cohabitant.

The characteristics of the mortgage life loan

The characteristics of the mortgage life loan

This particular type of loan originated in Britain in the late nineties of the twentieth century with the name of ” lifetime mortgage ” or ” equity release ” (and ” reverse mortgage ” in the United States). In Italy it was introduced precisely in 2005 by paragraph 12 of the art. 11- quaterdecies of Decree-Law No. 203 of that year, converted into Law No. 248 of 2005.

It is important to underline that the mortgage can be made only on the residential building, that is on those goods that are destined to be used as a civil dwelling, or that are pertinent to it. The application of the mortgage life loan has not been very successful in practice, this because in the aforementioned rule, there was no regulation that was introduced later by the Decree of the Ministry of Economic Development No. 226 of 2015, which came into force on 2 March 2016.

The fact is that the rule is clear, and the loan can be granted by banks or financial intermediaries regularly registered in the Register held by the Bank of Italy pursuant to art. 106 of the Consolidated Banking Act (TUB) contained in Legislative Decree No. 385 of 1993, and must guarantee a medium and long-term loan by holding as a guarantee the first degree mortgage on a residential property owned by the funded entity, with capitalization annual interest and expenses, which is suitable for individuals over the age of 60.

It is good to point out that the reimbursement can be asked to the heirs in a single solution, only upon the death of the financed subject, that is to the debtor as soon as the properties or other real or personal rights of enjoyment on the property are transferred in whole. property given as collateral, or even if   actions are taken that considerably reduce their value.

Even if the law does not explicitly communicate it, it is obvious that the lender, before granting the money to the applicant through the mortgage annuity loan, makes an estimate on the value of the property by an expert. We must also analyze the case in which the applicant to be financed is married or cohabiting ” more uxorio ” for at least five years, in this case the contract by law must be signed by both even if the property is only one of them, obviously both spouses must be at least 60 years of age.

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