Why choose private lenders despite the increase in bank credit?

Consider the option of private lenders

Consider the option of private lenders

If you are a press reader, listen to the radio, watch television or simply view billboards of any kind and on any medium, you will surely be surprised in the last few months by the new “blitz” of bank advertising, theoretically offering you financing.

Given these advertising inputs, you may be wondering why you should continue to consider the option of private lenders if you need financing if, in theory, from what you see in advertising, the bank already gives you that financing.

First of all, what must be said is that this new rebirth of bank loan advertising is a relative truth, it is a half truth, of course it is not a lie but it is far from the whole truth and private loans, like always, but in an increased way, they are still more necessary than ever.

It is true that banks have opened up the granting of loans to self-employed workers and companies in a certain way, but at what level? What requirements does the bank impose in order to grant you financing? In the past, it was easy to have practically any credit profile and the bank to grant you financing, nowadays everything has become much more selective and granting financing is no longer so easy.

Private lenders to solve the shortcomings of banks

Private lenders to solve the shortcomings of banks

Private lenders to solve the deficiencies of the bank will provide you with all the financing you need when the bank does not offer it to you or it is offered under conditions that do not complete what it requires .

For example, credit policies granted by banking entities that have always been one of the most used options by all types of companies today continue to be so, but, as always, but still more strongly, they do not They cover all the financing needs you may have. In these situations, private lenders to solve the shortcomings of banks make their appearance at the highest level.

In the case of personal loans for use that can be granted by banks, the same happens a bit as in the previous case, but with another added problem, the level of concession has also fallen a lot due to the difficulties of granting them (something that Let’s not kid ourselves also happens in the previous assumption). It is difficult for you to get these loans or at least it is very difficult to get them in the amount you need. In these cases, private lenders can also be very useful to replace the bank in granting this type of loan.

And finally, another area where private lenders can be extremely useful to you is in addition to the loans of the ICO lines that they can grant you. It is true that these official credit loans are offered under very advantageous conditions, but it is very likely that the amount granted will not be enough for you either, for all these cases private lenders will also be at your side to come up with more loans where the others do not arrive.

Real estate credit: how to get a good rate? – Cheap loan insurance

Although the current economic context is not very favorable, the mortgage market is still quite dynamic. Here’s how to get an attractive rate:

1 – Prepare your credit file well

1 - Prepare your credit file well

Before getting started, you need to prepare your mortgage loan file very carefully in order to build confidence in the bank. Build up a more or less substantial personal contribution because it is an essential element in negotiating your rate: the higher your contribution, the lower the rate. Financing with equity more than 20% of the amount of the acquisition is a point highly appreciated by banks.

Anticipate the steps…

Then, you must anticipate your approach at least three months before by cleaning your bank accounts and paying off your current consumer credits.

Highlighting strengths

Finally, prepare to highlight all your strong points to reassure your banker: young age, stable professional situation, additional income, the existence of a savings account…

2 – Use a broker

2 - Use a broker

Since banking establishments do not offer the same borrowing conditions and the offers are often limited in time, it appears difficult for an individual to contact the right bank at the right time. Thus, by going through a broker specializing in real estate credit, you will very quickly access the best offers on the market that he can negotiate for you.

3 – Negotiate loan insurance

3 - Negotiate loan insurance

Banks systematically offer their own loan insurance contract: the group contract. However, Lagarde law obliges them to accept loan insurance taken out with the insurance company of the borrower’s choice. Loan insurance is a significant element to negotiate because group contracts are generally more expensive than individual contracts.

Benefit from a better guarantee

By negotiating individual loan insurance (delegation of insurance), you can reduce the cost of your insurance by half compared to the group contract offered by the bank and benefit from more effective coverage whatever your situation:

  • aggravated health risks,
  • dangerous trades,
  • risky sports…

The broker

In summary, by going through a broker, you will save time and save money. You will get the financing solution that is most advantageous to you both in terms of price and conditions.

Income loan. 200 students denounce because of the indebtedness for their masters


More than 15,629 people have applied for these income loans since they began to be offered in 2007. In the first two calls, that is, in those of 2007 and 2008, students were only asked to repay the loan from the moment the one that began to receive a salary of $ 22,000 a year. But this clause was modified as of 2009, at which time a period was established to proceed with the repayment of the loan. Regardless of their income, borrowers were required to repay the loan amount on time.

Why do you need to repay the loan?

Why do you need to repay the loan?

As indicated by the platform affected by the income loan, this modification in the contracting of said loan was not notified to those who already enjoyed it. In addition, the new applicants received very deficient information in this regard. During the four years that the possibility of availing the income loan lasted, the Ministry of Education decided to change the name of said aid. In the words of the Ministry of Education itself, this loan was a real trap for the students because it was very poorly designed. For this reason, in 2011 it was decided to delete it.

According to the lawyer of the Association of those affected by the rent loan, the conditions were hardening year after year. Some entities that collaborated in the granting of this loan, such as Fine Bank, explain that the Ministry of Education is the only one that has the power to change the conditions of the loan since the income that was offered to the students came from public funds. As they explain, in addition, the ICO was the actual person in charge of lending the money while the financial entities that supported the initiative only functioned as mere intermediaries.

Loan for young people

Loan for young people

Given the continuous complaints and claims by the students who were affected, the Government decided to extend the grace period for the return of income loans. This extension was offered to all those who had serious difficulties in repaying the credit.

A real deception for young people who have not had a job opportunity after completing these master’s degrees and who now find themselves in the position of repaying a loan that in theory had no interest but also turned out to have them.

Prepare mortgage loan documents to deposit at your bank


Are you planning to apply for a home loan from a financial organization? You need to provide some important documents about yourself in order to obtain a mortgage. All individuals who plan to apply for a loan to purchase real estate must all go through this step. These documents are of great importance as they attest to your status as a reliable borrower. To help you, discover in this article this many paperwork to provide.

Documents to constitute for a mortgage loan application file

Documents to constitute for a mortgage loan application file

Regardless of the bank or institution authorized for the financial loan requested, specific documents must be provided by the future borrower. They help lenders find out more about the future client and their situation. If you plan to use a mortgage for the purchase of your house or apartment, you must, therefore, present a solid file including:

  • Civil status papers

These documents are formed by an identity document of the credit applicant, a marriage booklet or a PACS certificate. If you have divorced, a liquidation act or a final agreement is essential.

  • Documents justifying your direct debit

To apply for a mortgage, you must justify your place of residence. Note that there are three types of residents, including the owner, tenant or person accommodated free of charge. The documents attesting to his domicile are different for each of these profiles. For the first, you must attach a title deed and its property tax documents in your file. For the second profile, it is necessary to provide a lease contract. And finally, for the last one, the individual who hosts you must produce a handwritten accommodation certificate, with his signature. Proof of address is also attached to this certificate.

  • Papers that present your professional situation

The professional situation is one of the major elements that greatly influence the decision to grant a mortgage. To gain the confidence of a banker, having a good professional situation is essential. Financial institutions give little importance to unemployed mortgage loan applicants. If you are an employee, your file may have a chance of obtaining a positive decision from the bank. With this status, you must provide payslips for the last three months, a tax return, tax notices, a certificate of employment or an employment contract. If you are a public official, your mortgage application will have no problem. You can easily get a financial loan agreement.

Important documents concerning the property to be acquired

Important documents concerning the property to be acquired

Financial organizations always ask future customers, individuals or businesses, documents around the property to buy. A promise or a compromise of sale with the owner of the property to be acquired must be attached to his file. In order to obtain validation of your mortgage application, it is essential to always provide all the important paperwork for your banker. By carefully preparing all the essential documents to file, you are putting the odds in your favor in order to have a loan agreement.