Compare loans for lower risk

In Sweden, the population now has more loans than ever, but that does not mean that they are financially worse off. 20 years ago, the loan was almost half of what it is now, which makes it record-breaking. However, it has a lot to do with the fact that interest rates are much better now than in the 1990s and it is the interest payments that determine how indebted a household is. At the end of 2018, the interest rate ratio was 2.4 percent, compared with 11.2 percent in 1990, which is a significant difference.

To get the best interest rate on a loan, borrowers usually use services that compare loans. This means that you as a borrower can be sure that you will get a loan at the lowest interest rate possible. How low the interest rate you get depends on your credit rating and it is calculated based on a number of different factors. There are comparison sites that do not use UC in credit reporting to prevent you from receiving inquiries that lower your credit rating. This makes it advantageous for you to take out a loan without collateral if needed.

 

Measures from the Swedish Financial Supervisory Authority

money loan

Increased indebtedness obviously means increased risks as interest rates are not constant and can rise at any time. The Swedish Financial Supervisory Authority has therefore implemented some measures during the 2010s to reduce risks. Among other things, you cannot borrow more than 85 percent of the value of your home when you have it as collateral. There are also repayment requirements for your loan amount to decrease while you pay and increase if you borrow more than 4.5 times your gross income.

 

The Swedish mortgage market

Debt has risen significantly in the Swedish mortgage market, which is understandable thanks to the rapidly rising housing prices. House and apartment prices continue to increase in value, which is precisely why Moneythink Finance made the amortization requirement more stringent. This has contributed to a reduction in the average debt ratio during 2018, as has the proportion of borrowers with a high debt ratio. The introduction of the regulation has resulted in cheaper housing being purchased, if the amortization requirement had not existed, it would have been easier to buy more expensive housing. 82 per cent of households’ total debt consists of mortgage loans in 2019.

What is consumer loan?

 

Consumer loan is loan for consumers to do a certain edition. Loans to companies and mortgages are therefore not covered by consumer loan , but most other types of loans do. The consumer loan must be responsible and fit in with your loan goal and your financial options.

The best known forms of consumer loan are:

Personal loan

Personal loan

You borrow an amount at an interest that is fixed throughout the entire term. You repay this loan within a set number of months. So you know exactly how much you spend per month and how long you are repaying. You cannot withdraw the amounts that you pay off on your Personal Loan. Nowadays it is possible to repay penalty-free extra on your Personal Loan. Then the duration becomes shorter. You can be advised on a Personal Loan and take out it immediately.

Continuously loan

Continuously loan

With a Continuous loan you get a loan limit: you can withdraw money up to that amount. Every month you pay a fixed amount in interest and repayment, usually 2% of the loan limit. Interest will only be charged on the amount withdrawn. Moreover, the interest is not fixed, but is variable and can therefore be different every month. Repaid amounts can be immediately withdrawn and you can always repay additional fine without penalty. You can be advised on a Continuous loan and close it immediately.

What is the consumer loan most used for?

What is the consumer loan most used for?

  1. Consumer goods
    You want to buy something, but you don’t have the money for it (yet). You can then wait until you have collected the required amount. But you can also take out a loan . Most consumers loan en are taken out for the purchase of a car.
  2. Renovation or sustainability of the home
    A new kitchen, bathroom or conservatory can be quickly realized with a consumer loan . We also like to conclude a consumer loan in the the country for solar panels, double glazing and home insulation.
  3. Pay off debts
    A rent arrears, a few bills not paid and or the premium for your health insurance that has not been written off. It is not nice to have debts. Pay them off in one go with a Personal Loan and you will be in control of your finances again. Also very suitable for paying off your purchases at a mail order company in one go.
  4. Loan loan
    If you already have a loan, but you find it too expensive, you can choose another provider. You then pay off your old loan in one go with your new loan. But you are better off because your new loan has better conditions, for example a lower interest rate. The new loan provider will check again if you are eligible for the loan .
  5. Merge loans
    You have a number of loans that are all taken out at different times and run with different parties. For example, a Personal Loan for your car, a computer that you pay off in installments and occasionally turn red. By combining the various loans, you can save on costs. You also have a better overview of your finances with one loan.
  6. Study
    Special training can strengthen your position on the labor market. You cannot get a student loan from DUO for every study program. Thanks to a consumer loan you can make your dreams come true.

What should you pay attention to at a consumer loan ?

What should you pay attention to at a consumer loan ?

It is important that the loan that you take out fits in with your loan objective and with your personal and financial situation. That is why a loan provider will always ask. In addition, the loan Registration Office will check whether you have any other loan en and whether you have (had) problems with this. But you also have to feel good about the loan yourself. No fewer than 44% of consumers therefore first ask for advice. With us you get free advice without obligation about the loan.

What are the costs of a consumer loan ?

What are the costs of a consumer loan ?

When you take out a loan, you pay interest. That is the loan allowance. The maximum loan reimbursement in the the country is 14% per year. The interest may therefore be lower, but never higher than 14%.

The loan provider may not charge extra costs such as a guarantee. And a consultant may not charge any kind of costs for concluding a consumer loan. Costs for the application or administration costs are therefore not allowed. The loan provider must also be clear about the costs. We naturally follow these rules and, moreover, look for a loan that works out well for you.

You can always conclude a responsible consumer loan at the most favorable conditions and interest. You get advice and clarity about the costs so that you are not surprised afterwards.

Save the economy with flexible micro loans and account credit

Certain periods of the year are spending well. Insurance premiums must be paid, the car must be repaired at the same time as the house or apartment requires renovations. Everything at the same time.

A micro loan is a good way to solve the costs of this kind. The application goes smoothly, and you can quickly access the money even in the context of completely unexpected expenses. Since this type of loan is limited and usually ranges between 500 and a maximum of USD 20,000, they also make a quick repayment.

At the same time, it is important not to overlook the importance of repayment or to postpone their repayments. Even small loans can quickly lead to worrying payment claims if they are not handled properly.

The following are good things to think about when planning to apply for a credit or micro loan with direct payment:

 

Part payment and flexibility

loan payment and flexibility

When deciding on a lender, it is important that you look into its ability to meet your personal circumstances and needs. Flexibility when it comes to setting up your installment plan and having the freedom to spend the exact amount of money you need for two examples of this.

 

Application and conditions

loan Application and conditions

Unexpected, local spending requires quick access to loans or credit that can pinpoint the holes in finances. In that situation, it does not work to wait and wait long for whether your application has gone through, but on the contrary, it is a prerequisite that the money is quickly sought. tts into your account. Turn to a lender that offers quick response to your application and direct payment to your bank.

 

Not only is it quick to get access to the money

credit loans

It is also important to be able to manage and look at the account credit in a good way. Choose a lender that allows easy withdrawals via login, and does not require you to use all the credit. Also, keep an eye out for hidden fees that may jeopardize the cost of your loan.

Avoid unscrupulous SMS loans that cost more than what they provide and that cannot be repaid according to your own personal assumptions. Contact Mobile loan already today if you have questions about their services and offers or simply apply for account credit through the form on the website.