Category: Loan

Social Institute Loan For Extinguishing Tan Facilitated Mortgage.

by Carla Lyons

Social Institute loans for mortgage repayment: who can apply for them?

There are many Italians who find it difficult to support a mortgage signed years ago, but it is not always possible to pay it off early. A situation in which public employees and retirees are undoubtedly advantaged compared to other categories of taxpayers, since they can resort to the Social Institute loan for mortgage repayment.

This is a loan at subsidized conditions disbursed by Social Institute in favor of subjects registered in the Public Employee Management. The Social Institute loan for mortgage repayment falls into the category of multi-year Social Institute loans ex Government Agency.

Loans granted only for documented needs falling within the cases envisaged by the Social Institute Loan Regulation. Among the purposes envisaged for long-term loans we find the extinction of an old mortgage loan. But let's see what are the requirements to access the Social Institute loan for mortgage repayment.

Government Agency Social Institute 2016 2017 loans for mortgage repayment: the contractual conditions

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Since this is a multi-year loan, the loan for extinguishing the loan is accessible only to pensioners and civil servants registered for the unitary management of credit and social benefits, the Social Institute credit fund through which loans are granted pursuant to Government Agency.

For access to credit, it is also necessary to be able to have at least four years of service seniority to the pension and not less than four years of contributory payment paid to the aforementioned Unitary Management.

With regard to the contractual conditions, the loans for mortgage repayment have a ten-year duration and the repayment of the credit takes place through an amortization plan in monthly installments, reduced directly from the paycheck or from the applicant's pension.

The interest rate is 3.5%. The amount that can be financed varies from case to case and is defined on the basis of the amount that the applicant must pay to the lender to pay off the current loan in advance.

It should also be remembered that in addition to the interest rate, a rate of 0.50% for administration costs and a share for the payment of the premium for the Social Institute risk provision also apply to the gross loan amount. The latter is defined on the basis of the age of the applicant and the duration of the loan.

Social Institute Loans 2016: application form and documents to be attached

The Social Institute loan application for mortgage repayment must be drawn up using the specific application form available on the official Social Institute website. The following documents must therefore be attached to the request :

  • self-certification of the applicant's family status;
  • mortgage deed ;
  • title of ownership of the property.

In addition to the documents listed above, it is also necessary to submit a declaration in which the lending institution certifies the amount necessary to be able to pay off the mortgage. The document must also specify which title the loan was granted and the identification data of the property on which the mortgage was opened.

Non-performing loans: how banks got rid of them

by Carla Lyons
In recent years one of the main reasons for the crisis of the Italian banking system is represented by the non-performing loans also known as "impaired loans" or npe loans (non-performing exposures).

Credits deriving from financing and mortgage

money These are credits deriving from financing, mortgage or current account opening contracts which the customer is unable to repay in whole or in part to the bank; the slowness of the Italian judicial system leads to collection times that are too long and the imprudent credit policy adopted by some credit institutions makes it in some cases improbable if not impossible to recover the credit. This situation led to the malfunction of the credit distribution mechanism: the weight of non-performing loans ("npl") affects the liquidity of the banks and negatively affects their ability to finance investments and grant loans. Banking institutions have had to set aside reserves to face any losses and in many cases have been forced to write down their receivables; according to the data reported by the Good Finance, the impaired loans of the Italian banks amount to 349 billion USD gross of the write-downs already recorded.

Non-performing loans

Non-performing loans ("npl"), therefore, represent a large boulder that banks must get rid of; the main instrument used for this purpose was the so-called credit securitization governed in Italy by law no. 130/1999. Thanks to this tool, lenders can get rid of bad loans. It is a very complex process that can be explained by clarifying these three basic points:

WHAT IT MEANS TO SECURITIZE A CREDIT

cash Securitizing a credit means transferring it to someone else transforming it into an obligation written on a piece of "paper", that is a title. The protagonists of this transaction are three: the seller (originator) which resells the credit thus obtaining the liquidity it needs, the transferee (the vehicle company, better known as SPV, "Special Purpose Vehicle") which replaces the original creditor in the right to collect the credit, and investors, that is, those who physically lend the money to the special purpose vehicle. The latter signs in favor of investors ABS (" Asset-Backed Security ") that guarantees them that they will return the money in the medium or long term; these are actual debt securities which attribute the right to receive the repayment of the nominal capital plus interest at maturity. But where does the money needed to repay investors come from? From the only person left unchanged: the initial debtor; the latter pays the installment due and in turn, the vehicle company reimburses the investors. The originators can be not only banks but also financial institutions and public bodies. The securitization also provides for a transfer of receivables without recourse; that is, the originator is not responsible in the event of default by the debtor. To this end, a very important role is played by the rating agencies, ie companies that express an opinion on the assigned credits; in particular, the suitability of the securitized portfolio to produce the money necessary to repay the securities is assessed ("rating" literally means evaluation). The rating agencies assign a score that takes into account various parameters such as the quality of the credits transferred, the nature of the debtor, the type of company assigned to recover the credits. This type of intervention has a cost but provides investors with valuable assistance in the correct assessment of credit risk.

THE BENEFITS OF SECURITIZATION

the main advantage deriving from the securitization transaction is the immediate liquidity that is poured into the bank's coffers: the loan portfolio is sold against a cash consideration necessary to grant further loans. The main beneficiaries are private individuals but above all small and medium-sized enterprises ( SMEs ); through the reinvestment of the liquidity obtained from the securitization, the bank increases its profitability and can go back to "banking": that is, favoring consumption and investments through credit instruments. Securitization also allows the distribution of risk from the originator to other subjects ( investors ) who are better able to manage it; in this regard, we speak of " risk transfer ", that is, a risk-sharing tool. The transfer for consideration of credits, therefore, determines the re-use of money in more profitable activities offering benefits to the economic system as a whole.

SECURITIZATION RISKS:

every securitization involves risks for both the originator and the investors. The former will have to bear significant costs; for example the costs of issuing bonds, those deriving from the request for external guarantees, those of an administrative nature. The investor, to whom the bank's risk has been transferred, will instead have to deal with the debtor's possible insolvency. In this regard, we speak of " moral hazard "(ie the risk of insolvency of the counterparty); thanks to the possibility of resorting later to securitization, banks tend to invest in risky assets, discharging the risk of external losses. In fact, it has happened that banks have granted loans to unreliable subjects by reducing their controls on creditworthiness. The economic and financial crisis of recent years is a reflection of these incorrect choices and the use of securitization has favored the creation of a shadow banking system that is not subject to any supervision.

13,000 dollars for self-employed – from just 113 dollars

by Carla Lyons
If you want to start your own business, you have to expect costs. Offices may have to be rented. Maybe IT equipment is needed. A homepage may also have to be created. You have to advertise your new offer or company. If you have no savings, a loan is inevitable. A 13,000 dollar loan for self-employed can help. But what conditions do you have to expect?

Loan for the self-employed 13,000 USD: that's what the banks understand by that

Loan for the self-employed 13,000 USD: that When you apply for a 13000 dollar loan for the self-employed, you need to know one thing. Banks understand this to be a special purpose loan. A loan for self-employed persons of EUR 13,000 is a commercial loan. Accordingly, you must prove that you are actually spending the money as requested. In return, however, you also get better interest rates than a free-use loan.

13,000 USD loan for self-employed: You have to expect this interest

13,000 USD loan for self-employed: You have to expect this interest The interest on a loan for self-employed persons of 13,000 USD is very good. The best APR comes from the Bank of Scotland. It is 1.95 percent. You will receive it for all terms from 24 months (2 years) to 84 months (7 years). For twelve months (1 year) you have to expect 1.99 percent effective interest. The offer comes from Loan plus Bank. At best, you pay 2.48 percent effectively to Salader for 96 months (8 years). For 108 months (9 years) to 144 months (12 years) term, the best annual percentage rate is 3.95 percent. It comes from extra credit. You can see from the values ​​that there is a great advantage in shorter terms: overall, interest rates are lower. In return, you have to live with higher rates.

Loan for self-employed 13,000 USD: Some examples of monthly payments

Loan for self-employed 13,000 USD: Some examples of monthly payments One question should still burn under your nails. What do the above explanations about the 13,000 dollar loan actually mean for self-employed persons? What monthly installments can be expected? What should you shoulder for what duration? At best, you would have to pay back 1094.94 USD for 12 months. You only get the best interest if you have a strong credit rating. If your credit repayment ability is weak, it can increase significantly. The rate burden drops significantly for 24 months. At best, you pay after 552.64 USD. You may find the best offer of term and interest rate for 84 months. The best rate is 165.59 USD. Then the interest rates rise, which affects the monthly installments. For example, at best, you would pay 113.06 USD for 144 months. With the 13,000 dollar loan for self-employed, you hardly save compared to 84 months per month, but you pay significantly more interest.

Interesting facts from the cash loans market

by Carla Lyons
The cash loan market is highly diversified. In the industry, you deal with retail banks, Lite Lenders, and even private investors, brokers, and the social loans sector. In the article you will learn some industry curiosities. Development and prospects for cash loans in the non-banking sector. In Poland, short-term loans have entered a strong upward trend. For several years, there has been an increase in interest in cash loans on the Internet, mainly for amounts up to 1000 - 2000 USD. Money is most often used during the holidays, during minor renovations, during specialist treatment, for current needs.

The structure of Lite Lender customers is also changing

bank Short-term loan (payday loan) is not only the domain of the poorest sections of the society, but a product dedicated to medium-wealthy clients with a stable professional situation. Such clients obtain payday loans in Lite Lenders not only because of reduced formalities, but because of the convenience and ability to build loyalty in a particular loan institution. In Lite Lenders, the overall credit history is not that important. A loan company allows you to set up your own borrower's account, e.g. on a website. If you pay your liabilities on time, you get more and more favorable conditions for access to short-term and medium-term loans.

The need to reduce borrower servicing costs in Lite Lenders

cash A bank tax was imposed on Lite Lenders. The largest entities in the industry are dealing with additional costs. Added to this is the competition of payday loans for the poorest with new social programs. The Ministry of Justice also recognized the problem of usury loans as an important issue. According to the latest reports, the Anti-usury Act aims to significantly reduce non-interest costs in contracts with Lite Lenders. Cash loans are eagerly used by generation Y, brought up practically on the Internet, a global village where information exchange is key to eliminating dishonest lenders. The cash loan is strongly coming into the minds of customers by increasing advertising expenditure by Lite Lenders. Consolidation in the industry is inevitable by the emphasis on long-term cost reduction. When you need a loan, check the offers on this portal.