Monthly Archive: February 2020

Borrow 15000 USD – Loan lending honestly about cheap money.

You can borrow 15000 USD in the form of a personal loan or a revolving credit. Which form of borrowing you choose depends on your loan requirements, and your options. But it is just as important, of course, where you can borrow 15,000 USD at a favorable price. Where can you borrow money cheaply? What is the best offer for you? How can you ensure that you get the best loan?

Borrow 15000 USD

Borrow 15000 USD

Personal loan Revolving credit Mini loan
From 4.1% From 4.5% Borrow a maximum of $ 1500
Fixed interest variable interest No BKR testing
from 21 to 69 years old from 21 to 69 years old from 21 to 70 years old
Payment within 2 days Payment within 2 days Payment within 24 hours
Apply for a personal loan Apply for revolving credit Apply for a mini loan

Borrowing 15000 USD is of course quite different from borrowing 1500 USD or borrowing 1000 USD. If you are going to borrow $ 15,000, it is important to sit down for a while. It may well be that you have been attached to this loan for several years.

Therefore, make a correct and responsible choice.
We are happy to give you some extra information to help you with this.

Borrow 15000 USD as a personal loan

Personal loans have become increasingly popular lately. And rightly so, a personal loan stands for security. You will receive a fixed interest and a fixed term. So you know in advance where you stand. In the past, the interest on a personal loan was much higher than the interest on a revolving credit. Fortunately, this is no longer the case. With many banks, the credit form no longer matters and the interest is the same. With other banks, the interest on a personal loan is even lower than with a revolving credit.

What you choose depends on your wishes. With a personal loan, the entire credit is deposited directly into your account. You cannot keep money in the loan. This can be considered a disadvantage by many people.

Borrow 15000 USD as revolving credit

Borrow 15000 USD as revolving credit

If you want to borrow money more flexibly, you can opt for a revolving credit. With a revolving credit you can keep money in your loan. You can make withdrawals up to your credit limit and you can make additional deposits that will allow you to repay your loan earlier. And this always fine-free. If you want to make flexible loan 1500 USD possible, a revolving credit can be a good choice.

However, you must take into account that the interest with a revolving credit is variable. Interest can therefore rise. You must therefore pay attention to this.

What does advice for borrowing money cost?

What does advice for borrowing money cost?

Of course reading a lot about borrowing 15000 USD is fine. Nevertheless, a loan is tailor-made. Every situation is different. So every advice should be different too. A big advantage is that advice about borrowing money is completely free. This is of course a pleasant side effect. It is laid down in the Consumer Credit Act. It states that it is not allowed to charge costs for the costs of brokerage.

Borrow 15000 USD without BKR testing

Borrowing 15000 USD is always borrowing money with BKR testing. It is not possible to borrow money without enabling BKR testing for loans above $ 1,500. For large loans there will always be a BKR assessment and BKR registration. Nowadays also if you would like to use crowdfunding.

Is the variable loan rate worth it?

 

The trend is unchanging. The people prefer to borrow with a fixed rate rather than a variable rate. In 2014, only 5% of borrowers chose a variable rate for their mortgage.

Why choose a variable rate?

Why choose a variable rate?

Signing a variable rate mortgage means having the possibility of borrowing at lower rates than with a fixed rate loan. It is also the hope of seeing the market fall in order to benefit from a reduction in the overall cost of its loan, either by reducing its duration, or by reducing its monthly payments, or even by combining these two elements. But this is a gamble that has its downside: if the rates rise, your monthly payments follow the same movement. Another interest, in the event of resale the variable rate credit makes it possible to negotiate the absence of compensation for early repayment. This is why we recommends reserving variable rate loans:

  • short-term loans, for example to people who intend to resell their property in the short or medium term
  • to people who can support a possible increase in their monthly payments in their budget
  • to investors

What to do if rates rise?

What to do if rates rise?

It is always possible to transform a variable rate into a fixed rate, provided that your contract provides for this freedom. But you have to be careful: this passage is irreversible and it also generates costs. There is also an even more radical solution in the event of a sharp rise in rates. This involves buying back your credit by obtaining a new fixed-rate loan from another financial institution to settle the first one. Again, be careful with prepayment charges. Hence the importance of negotiating the absence of a penalty when signing the variable rate offer.

Secure your variable rate loan

Secure your variable rate loan

Different tips can limit the risks inherent in a variable rate loan. Thus, it is recommended to take out a loan with an option which will allow you to change for a fixed rate at the time of the anniversary date of the contract, that is to say every year. Capped rate loans are another alternative. By regulating the increases and decreases in the rate, within limits determined beforehand in a contractual manner, this type of loan thus limits your financial risk.

If you plan to opt for a variable rate credit, we offer you its advice to assess according to your profile, your project and market trends, if your choice is the right one.

How to avail credit for loft conversion.

If you own a property later, you will not only have the advantage of rent-free living, you can also beautify and change your own home according to your wishes. The loft conversion often plays a major role in this. The children grew up, the attic would be the ideal retreat for the young person.

If the attic was a parking space for many years, it can be converted into a living space. However, this project entails some costs that not everyone can pay from their current budget. One thinks about a loan for the loft conversion.

The loft conversion with grants

The loft conversion with grants

One could simply take out a loan for the roof extension from the bank for the roof extension. But it makes much more sense to inquire whether and how much funding could be used. The funds are not only available for energy-efficient work, but funding can also be applied for age-appropriate housing remodeling. Cream Bank is the right contact here. The owner must apply for this before the roof extension. Construction plans and cost estimates will then be necessary. The work must also be carried out by a craft company that is registered. Building authorities and municipalities can provide information.

If the funding is insufficient, the remaining amount could still be taken out with a loan for the roof extension. Of course, the customer must then know the loan amount. Installment loans can be applied for for any purpose and in any amount. But if the money is not enough, refinancing may have to be carried out, which could prove difficult because a loan is already available.

The loan options for the loan for loft conversions

The loan options for the loan for loft conversions

An allotted building society contract can also be used as a loan for the loft conversion. The customer gets a cheap loan, but has the disadvantage that he has to save a few years until the contract is ready for allocation. That is why the better solution is the installment loan. It offers flexibility and favorable conditions. The interest rates are in the single digits. There are direct banks that offer installment loans with less than 6% APR. The customer can receive the loan amount from 1,000 to 50,000 USD. This sum should be sufficient for the roof extension.

Homeowners can apply as a further loan for the loft conversion if the property has already been paid for. Larger credit requests can be made here by securing the land register. If the loan volume is below 60% of the lending limit, the loan can be as low-interest as a promotional loan. Here the customer can count on interest offers of around 1% APR.

However, if you only need a small loan amount, it is not worth the effort to enter a mortgage. The customer would be better advised here if he avails himself of the renovation loans offered by banks. Here he can expect an interest rate of 2-3% APR.

However, if you have only recently owned a property and have just completed the financing and now need additional funds for the loft conversion, you can expect difficulties. The bank does not have sufficient security here, since there has not yet been a high repayment. The creditworthiness is missing despite the high real value, which makes a loan for the loft conversion difficult. A loan for the loft conversion is feasible at the earliest after the end of the first fixed interest rate.

The installment loan from the bank

The installment loan from the bank

If you opt for an installment loan, you can search for cheap providers with the free loan comparison. In general, every bank can provide a loan for the loft conversion. Usually the house bank is asked first, there may be real estate financing. If the loan amount is not so high, the customer should not have any problems with the loan approval. Especially with regard to the aforementioned scenario if the home was not bought and financed for a long time.

If the homeowner has had his property for a long time, it could be used as security for the loan. The advantage of this is that the bank provides better conditions. If the customer is not satisfied with the offer from the house bank, there are many direct banks with very low interest rates. The credit comparison shows the customer not only the interest rate, but all the terms and conditions of the bank. The focus should not only be on the interest rate, but also on the free special repayments and one or two installments.

This is particularly advantageous for employees if they receive bonuses and special payments from their employer every year. He could deposit these on the loan and thereby redeem it prematurely. However, if there are no free special repayments in the loan agreement, the bank can calculate a prepayment penalty. The installment deferral cannot be dismissed out of hand either. There is always a financial bottleneck, especially with a property owner, who could compensate for one or two installments.

The credit rating

The credit rating

The creditworthiness of the customer is of course the most important thing before the loan application. He must have a sufficiently high income and a permanent job that is not permanent. In addition, the Credit Bureau must not be burdened with negative entries. Each bank checks the customer’s Credit Bureau before each loan. This shows through their information, the payment behavior of the customer in the past. If there were already payment irregularities, the loan could also be rejected, also with regard to the security provided by the property.

The Credit Bureau-free loans could then be a way out. If only the negative entries in the Credit Bureau are the reason for the rejection, then a Swiss loan could be called this type of loan, since until 2009 all loans came from Switzerland, where no Credit Bureau was queried. However, these banks also have strict requirements that a loan seeker must meet. As before the aforementioned income, which must have a attachable share of at least 100 USD.

The customer must be of legal age and have his residence and current account in Germany. He shouldn’t be older than 58 years. The loan does not appear in the Credit Bureau and the bank does not query the Credit Bureau either. The loan amounts are limited and depend on the customer’s creditworthiness. So the most approved loan is 3,500 USD, it has a rate of 105.00 USD. If the credit rating is good, the customer can also receive 5,000 USD or 7,500 USD.

If these loan amounts are not sufficient and two Credit Bureau-free loans are then applied for, the customer will not get over it. The bank queries ZEK, the central office for credit information, and all Swiss loans are entered in it. The loan can only be topped up after half a year of payment in installments.

 

How to avail loan without Credit Bureau and co-applicant.

 

Credit Bureau collects information about proper loan processing as well as financial misconduct. Lending through a German financial institution is regularly associated with a Credit Bureau request and with the notification of the conclusion of the credit contract to the credit protection agency. A co-applicant is liable towards the bank as well as the main borrower for the repayment of the loan. It is to be distinguished from a guarantor who is only liable if the actual borrower does not repay the loan.

Loans without Credit Bureau

Loans without Credit Bureau

If a borrower has a Credit Bureau negative entry, they often choose to borrow together with another borrower whose Credit Bureau information is faultless. An alternative to a loan from a Cream bank, taken out in pairs, is a loan without Credit Bureau and co-applicants, as it is granted by Lite banks. As a non-contractual partner of the German Credit Bureau, the federal banks cannot make a credit rating request and at the same time cannot report the borrowing to the credit protection association.

They grant a loan without Credit Bureau and co-applicants if the applicant’s working income corresponds to their significantly higher minimum requirements compared to most German financial institutions. The amount of a loan without Credit Bureau from Switzerland is also limited, most banks grant a maximum of 3500 and a few federal credit institutions up to 5000 USD.

Swiss Credit Bureau-free loans are processed without a co-applicant and in the currency of the euro, so that there is no exchange rate risk for the borrower. The borrowing is not reported to Credit Bureau, but to the Swiss central office for credit information. This notification, which is binding for the bank, means that no consumer can extend the total credit line by taking out several Credit Bureau-free loans. At the same time, if the loan received is not used properly, it limits future borrowing in Switzerland.

Other ways of borrowing

Other ways of borrowing

In the consumer’s perception, the repeated use of a granted credit line often also presents itself as a loan without Credit Bureau and co-applicants. In fact, the bank only makes a Credit Bureau credit rating request when a credit line is approved for the first time and notifies the credit protection company of its approval actual utilization. If consumers only forfeit a Credit Bureau negative entry after the first granting of a credit, they can continue to use existing credit lines.

However, you will lose the credit line if you do not make the repayment as agreed. The pawnshop loan is the oldest loan without Credit Bureau and co-applicants, and when it is paid out, the pawnshop owner only uses the pledge as security. The loan on a private pension insurance contract or life insurance claims is also suitable as a loan without Credit Bureau and co-applicants. Since the borrower is mortgaging his own credit, the insurer does not have to make a credit check. However, it is not sensible to lend subsidized insurance contracts, since in such a case the subsidy must be repaid.

Borrowers can take credit from abroad without Credit Bureau.

Loan seekers can take out a loan from abroad without Credit Bureau if the creditworthiness in this country does not allow a loan.  This means how creditworthy a loan seeker is. It is largely composed of a sufficient high income, permanent employment and impeccable Credit Bureau.

If there were any payment problems in the past because, for example, an urgent invoice was not paid and has already been dunned, a negative entry in the Credit Bureau can arise. This entry shows the “payment behavior” of a customer. Banks are guided by this and then reject the loan, the risk is too great for them. But what can a loan seeker do when there is an urgent need for money. A loan from abroad without Credit Bureau can then remedy the situation.

The Credit Bureau and its consequences

The Credit Bureau and its consequences

Before banks approve credit, they check whether the customer is creditworthy. In addition to the sufficiently high income that should come from a self-employed activity, the Credit Bureau is an important approval feature. Credit Bureau shows how the customer has met his obligations in the past. Everyone has entries in the Credit Bureau.If someone applies for a loan, opens an account, concludes an installment contract with the mail order company or a cell phone contract, this data appears in the Credit Bureau, initially without evaluation.

Only when one or the other invoice has not been paid, when there is already a legal warning or a credit default, do these entries become negative entries and can have unpleasant consequences. One of them is that a traditional bank doesn’t approve a loan because they fear they won’t see their money again. The Credit Bureau shows corresponding peculiarities.

As a credit agency, Credit Bureau collects data from consumers who transmit its contractual partners such as banks, telephone companies, insurance companies or other financial service providers to it. Credit Bureau is therefore an important authority in all financial transactions. It is recommended for loan seekers, even if no credit is required, to obtain free self-assessment from Credit Bureau once a year,

Then the customer can see if negative entries are noted, which are rightly there or could be deleted, since they are long gone. The customer should know that Credit Bureau is not only important for the loan seeker, but also when renting an apartment. Many landlords ask the Credit Bureau beforehand; if it is bad, it is often not rented out.

The reputable credit broker

The reputable credit broker

If you search for a loan from abroad without Credit Bureau on the Internet, the customer will experience a flood of advertisements. Despite all advertising statements, a serious loan from abroad is possible. If you carry out a loan comparison with a normal loan, the loan comparison for a loan from abroad without Credit Bureau brings very few offers. Most of the offers are provided by credit brokers, and they are dubious agencies.

In most cases, anyone interested in a Credit Bureau-free loan accepts the offer of credit intermediaries. The Credit Bureau-free loan could be applied for directly through the foreign bank, but many customers are very unsure about it and prefer to entrust these tasks to experienced credit brokers. The customer recognizes the serious working intermediary by the fact that he does not require any upfront costs or prepayment.

Also, no insurance contracts should be offered that are supposed to enable or accelerate credit approval. Although the customer will not receive a loan, he pays insurance premiums every month that he does not need. Calling expensive hotlines to get supposedly important information about your credit is nothing more than a ruse. The customer then pays the expensive telephone charges and nothing else.

The reputable credit broker works without all of these things, he has been on the market for years, may also be strong brand-certified or tested by the German Company. Reputable credit brokers do not run lurid advertising, they simply and transparently provide their services to their customers. However, the customer should keep in mind that the work of the credit intermediary is not in vain, but receives a commission after the loan approval.

Loan from abroad without Credit Bureau – the bank

Loan from abroad without Credit Bureau - the bank

The loan from abroad without Credit Bureau now only comes from a bank, which is based in Liechtenstein. A few years ago, the loans all came from Switzerland, hence the name Swiss credit. However, control authorities prohibited these credit intermediaries from granting loans to Germans, as they lacked the necessary banking license. Sigma Kreditbank AG from Liechtenstein has this license and grants a loan from abroad without Credit Bureau.

The loan is advertised easily and easily on the Internet, but the customer still has to meet some requirements. The sufficiently high income that must be above the garnishment exemption limit. The permanent job which must not be limited and does not have a trial period. The loan seeker must be of legal age and reside and have a current account in Germany. There is also an upper age limit, which has recently been set at 62 years.

A bad Credit Bureau does not matter for a loan from abroad without Credit Bureau, the credit is not entered in the Credit Bureau either. However, the bank will take a look at the public debt register. If there are serious entries such as attachments, bankruptcies, enforcement orders or affidavits, the bank rejects the loan.

A specialty of this bank is that it only provides three loan amounts. Once 3,500 USD, 5,000 USD and recently 7,500 USD. The creditworthiness of the latter two loans must be excellent. For the two smaller loans, the employment relationship must have existed for one year, for the 7,500 USD loan it must have been four years.

If there is a garnishment of wages, the loan is also rejected. Because the bank secures the loan through income, in the event of a loan default it will submit the garnishment immediately.

The interest rate on the loans is around 11-12% depending on the credit rating. The terms are 40 months. The credit installment for the 3,500 USD loan is 105.00 USD, for the 5,000 USD credit 150.00 USD and 7,500 USD are due around 220.00 USD.