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Boat loans – Info

 

Buying a boat is something that very often costs a lot of money. This makes it very common for a boat loan to pay for its boat purchase.

Boat loan is a loan with security

Boat loan is a loan with security

Boat loans are a type of loan that you call collateralised loans. This means that you can have your newly purchased boat as collateral for the loan. The fact that you have the boat as collateral means that the bank can claim the boat as payment for the loan if you are unable to repay what you are going to.

It is positive that it is a loan with collateral as this is normally preferable compared to a loan without collateral. It is usually the case that loans with collateral are cheaper to take when interest rates are lower. The fact that the interest rate will be lower has a lot to do that the bank can feel confident that they will get back the money that they have lent out since they can demand the boat as payment.

Repayment time on a boat loan

Repayment time on a boat loan

You can choose quite freely when it comes to repayment time on a boat loan. Everything from a couple of years up to quite a few years. The exact number of years can vary from lender to lender so check this out before you decide.

Find your boat loan

Find your boat loan

Our tip is that you use the Internet to find the boat loan you are looking for. You can, for example, find a number of good links here on the site that you can greatly benefit from. Then you can also apply for the loan directly online.

If you want to get in touch with a bank official, it is still a good idea to first check the web because then you can first compare different lenders and in this way find out what is the cheapest. When you find the lender you want to borrow from, it is only to contact the local bank branch and talk to a bank official or alternatively contact them via the internet if it is a lender who has no physical office.

 

Early repayment of the loan

By making use of the early repayment of the loan, the debtor can repay, partially or in full, his debt before the contractually established deadline.

The early repayment of the loan

The early repayment of the loan

The debtor can at any time avail himself of the right to early repayment of the loan, paying the residual debt and the interest accrued up to that time.

The loan contract relating to the granting of a personal loan may provide for the presence of a penalty payable by the debtor, equal to a maximum of 1% of the residual debt, if this is greater than 10,000 euros. The percentage drops to 0.5% if less than a year is left until the loan expires.

The penalty due cannot in any case exceed

The amount corresponding to the residual interest due to the creditor. In the case of loans of less than € 10,000, the credit institution cannot request any penalty. No penalties can be applied even in the case of subrogation of the loan.

The early repayment of the loan, even if only partially, allows the debtor to save on the interest due to the bank or the financial company that provided the loan.

In the event of partial repayment of the residual capitalpenalty

The amortization plan must be recalculated, taking as a reference the new debt to be repaid and applying to it the interest rate provided by the parties for the residual duration.

In the event of a request for early repayment

In the event of a request for early repayment

The bank or finance company that provided the loan will provide the client with the extinction statement, that is to say the document indicating the amount of the residual debt and how much the interest and expenses amount to. due for contract closure. The same document contains the terms and instructions for making the payment.

Insurance of an external loan

When you apply for a mortgage loan from Crédit to finance a property, it asks you to take out borrower insurance to ensure the desired credit and protect you and your family, against any risk of default. The then offers you its own loan insurance contract which is collective and standard: the group contract.

But, know that with the law, you can decide the insurer who will guarantee your mortgage and thus find a contract that will make you save on the total cost of your real estate credit subscribed with Crédit South West.

Loan credit southwest

loan credit

Crédit is a bank belonging to the Crédit group, a cooperative and mutual bank. The group consists of federations and about twenty subsidiaries.

One of the 6 credit unions: it is the second in terms of importance

The solution to ensure your loan

The solution to ensure your loan

You wish to benefit from a loan insurance contract being much more interesting for your real estate credit subscribed with Crédit Mutuel du Sud-Ouest?

So, resort to insurance delegation, the specialist in negotiating loan insurance contract delegated.

Law Lagarde

The Lagarde law offers you the possibility to delegate your loan insurance: you can freely subscribe the insurance borrower that suits you best, from the insurance company of your choice, provided you find a contract respecting the equivalence level guarantees with the contract initially proposed.

Hamon Law

In case you have contracted your credit after July 26, 2014, the Hamon law gives you the opportunity to replace your loan insurance during the first year of life of your home loan. As with the Lagarde law, the guarantees must be equivalent to the guarantees of the initial contract.

Credit South West Loan Insurance Comparison

credit loan

To help you with your loan insurance research process, we have designed an online loan insurance comparison tool. Free and non-binding, it allows quick and easy targeting of the most important CMSO loan insurance criteria. You can, therefore, check that the subscription of an offer other than that of the bank is more advantageous for you.

Why call The Broker?

Expert in the field of insurance borrower, the broker is able to seek and negotiate for you the credit insurance contract at the lowest market rate accepted without problem by the bank, because of the respect of the level of guarantee equivalence. You will also benefit from tailor-made guarantees, thus offering you a completely personalized cover.

Save thousands of euros

Save thousands of euros

Thanks to the use of the insurance delegation to guarantee your loan with Crédit you can significantly reduce the cost of your loan insurance and thus save thousands of euros on the overall cost. of your credit!

The Risk Study of a Real Estate Loan

 

Among the various stages of a loan, analyzing your application is certainly the most crucial.

Indeed, the study of the credit file remains the essential point of the process which goes from the first studies of financing until the disbursement of the funds the day of the signature of the authentic deed of sale.

Know that any decision before the final study of your file is like an agreement in principle that is a simple assessment that can give the bank.

Only the complete analysis of your loan application by the Commitments Department allows the lending institution to make a definitive commitment.

Respect the maximum debt ratio

Respect the maximum debt ratio

First point of analysis and perhaps most importantly, the analysis of the debt ratio no longer allows much flexibility today and unless you have a substantial rest to live, the banks will ensure that this debt ratio does not exceed one third of the income.

Present bank statements without incident

Risk analysis is primarily a comprehensive approach, the service to review your application will sift the bank account statements and check if you know how to keep a budget. It goes without saying that if you are a regular creditor, you will score points.

On the other hand, if you present debit current accounts with multiple payment incidents (withdrawals or checks rejected), you are likely to encounter a refusal of financing .

Benefit from a stable professional situation

Benefit from a stable professional situation

Have a good credit record The stability of your employment situation is an essential aspect of risk analysis. You will have a hard time borrowing if you do not have a stable job.

It is therefore essential that you have a fixed-term contract without a trial period if you are employed.

It is also important to know that public servants are more likely to obtain a mortgage than private sector employees because of the guarantee of employment.

If you come from an independent status (trader, craftsman, liberal profession, auto-entrepreneur or company manager).

It goes without saying that your balance sheets will have to present beneficiary accounts.

The personal contribution

The personal contribution

The case of the personal contribution is much more important today in times of financial crisis, the banks of networks in particular take less and less risk. If you are young primo accedant and you do not have input, you will struggle to get the sesame from the network banks.

Indeed, these require more and more that the borrower finances himself the notary fees.

As can be seen, the service responsible for analyzing the credit file seeks to obtain an overall view of the borrower’s situation. Each element studied is part of a set that must provide a positive answer … or negative.

Make Up Your Credit Report

Once you have negotiated the terms of the home loan, the next step is to gather all the necessary supporting documents to study your application. Indeed, the Commitments Department will want to verify that you do not present a significant risk before agreeing.

What are the proofs to provide when setting up your credit report?

What are the proofs to provide when setting up your credit report?

The documents that are requested by the bank can be classified into three categories:

  1. Documents that are related to the real estate purchase
  2. Proof of identity and residence
  3. All the documents concerning the financial situation of the borrowers

Justify your real estate investment

If you bought an old home, you must provide a copy of the sales agreement or the promise to sell. This must include the appendices if applicable and in particular all real estate diagnoses.

In the case of a purchase in new, you must submit a duplicate of the reservation contract if it is an apartment purchased off-plan through a developer or a copy of the construction contract if you have a house built. In both cases, you must attach a duplicate housing plans.

 

Identity documents

You must prove your identity. To do this, you must provide a copy of your national identity card or passport.

Warning: the documents must be valid. As well check this point before making your request and possibly do the necessary formalities.
To justify the address of your current home, you must produce:

  • Invoice phone, gas, electricity or water
  • Home insurance release
  • Title of property or rent receipt

For first-time buyers who live with their parents, the bank will ask for the following documents

  • A copy of the national identity card of parents
  • A certificate of honor certifying that you live at home
  • Proof of address in their name

The financial situation

Analysis of bank statements

The bank wants to analyze the bank statements of the last three months of the two co-borrowers. If you hold multiple accounts in different banks, you will need to provide the statements for each bank.

Proof of personal contribution

If you have a personal contribution, you will have to produce a duplicate of the last statements of your investment operations on which the funds are deposited (Livret A, savings plan housing, account title …).

If you have a caregiver, simply send a certificate on the donee’s honor on which he will mention the amount of the assistance provided and attach a copy of the records of operations.

 

Regarding your professional income, the bank asks for pay slips for the last three months as well as the latest tax notice. If your pay slip does not specify your date of entry into the company, you will not be able to prove your seniority and you will have to provide a copy of your employment contract.

Evidence to obtain the zero interest loan

If you invest in the new and you justify a standard BBC (Low Consumption Building), you can benefit from the loan at zero rate. For this you will need:

  1. Prove that you are a first-time buyer matching the definition given by the government (non-owner in the last 24 months). You can provide a certificate from your owner indicating the date of entry.
  1. Do not exceed a certain income ceiling set by decree.

List of parts of your loan file

List of parts of your loan file

  • Proof of address
  • Three last payslips
  • Last three bank statements
  • Copy of the CNI valid
  • Last imposition opinion
  • Copy of the preliminary contract (compromise, reservation or construction contract)
  • Proof of the contribution
  • Owner’s certificate

The contribution of the broker

The contribution of the broker

If you use a real estate broker, you will get help with building your credit report. Indeed, most of them are responsible for collecting all the parts and directly bring your request to the financing organization.

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The Benefits of Online Payday Loans

Previously to acquire a personal payday loan, there were only few options: borrow from a friend or relative, or go to the bank or a credit institution to obtain it.

Benefits of online payday loans

Benefits of Online Loans

This last option involves a long process, where you physically have to go to the bank to leave your documents, and after several days or even weeks of analysis, the bank lends you the money you require. By then, you will have spent time carrying the documentation and waiting for an answer; you will have also spent money to move and especially not being able to cover your immediate need, that the same name says “immediate”. That’s why online payday loans have come to revolutionize the way you ask for a loan. This is what you save:

Save Costs

Costs

How much does gas cost you to go to the bank and ask for the credit? Even more important, how much is it costing you not to have the liquidity you need right now? Maybe the opportunity goes away because you do not have the liquidity, or maybe you need to pay something so as not to cause the electricity to be cut off, to claim the rent, etc. The speed at which they give you a personal credit is key to being able to fulfill your obligations or desires.

Save time

time

Do not have time to go to the bank because you have other commitments to meet during the day? That’s why a loan is at your fingertips on your computer or mobile device is very practical and fast. You do not have to wait days or weeks to get your credit. Lender uses the data you enter to quickly analyze your case and give you an answer. Also, once the loan is granted, it is deposited via bank transfer. You do not have to go pick up anything. When paying, you do it in the same way, depositing the account whose data we will share with you.