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One of the great successes of the private loan is the P2P loan between individuals and companies; The main cause is found in the absence of credit by banks. This has made new avenues open up and new formulas for credit to come into being; companies in the network of new business opportunities and some of them are P2P lending platforms with reference to the English expression «peer to peer». They are also working in Spain such as Cream Bank or Comunitae; and recently the German company Nice Lending has just joined the private loan car on the Internet.

Clients who want to apply for a loan

They represent success stories of the private loan; These companies work as follows. First of all, there are clients who want to apply for a loan and, even if they are solvent, they do not meet the demands of the banking system; therefore they need to find an alternative to get the money they need. On the other hand there are also investors who want to lend their money, for these investors the Internet loan platforms are the ideal product to invest their savings and thus obtain a much higher profitability than with other types of savings options, Take the case of bank-type deposits.

Although according to Abdicae, there is no safe return and it all depends on the ability to pay that the person receiving the loan has; It is an important point because the investor must also keep in mind that there is a risk and that it is possible to lose the money that is lent.

New successes of the private loan is that the default of these platforms

An interesting fact about these new successes of the private loan is that the default of these platforms is between 2% and 3%, as opposed to 14% of the defaults that have been obtained by the banks. For this reason it is not yet possible to offer the investor real security, the guarantee does not yet exist. Although the company Cream Bank indicates that the most appropriate thing is to work with a large number of loans in order to soften the risk of defaults that we have mentioned above.

Although these platforms are obtaining successes in the private loan, there is still no easy access to credits; however, they are offering a new option to traditional banking. We must bear in mind that the Nice Lending company is rejecting 80% or 90% of the requests that come to it, this percentage is even higher in the case of the Cream Bank company. Keep in mind that these are small amounts of money, up to $ 25,000 in Nice Lending and around $ 100,000 in Cream Bank; even so, successes of private loans are being observed online thanks to these new technological alternatives.

It has been shown that the cause of these successes lies in the fact that these new business models emerge outside traditional banking and are using a gap that financial institutions have left empty. The economic magazine Forbes thinks that it has a utility, in a special way although it is still impossible for them to replace traditional banks.

When you buy an apartment or a house, work is often required. A renovation loan will allow you to renovate or transform as you wish, without emptying your savings book. Discover the characteristics of this advantageous formula to make your accommodation a cozy nest.

Do you want to transform or renovate your apartment or house? Design a garden, have a kitchen installed, refresh the decoration? The renovation loan is for you. Whether small or large works, Lite Lending offers you the possibility of quickly taking out a renovation loan at an advantageous rate. This independent broker compares the offers of several credit companies and always presents the best. Do not postpone your renovation projects!

 

Why a renovation loan?

You can borrow for small jobs as for large sites, in order to have a comfortable budget without having to break your piggy bank. A renovation loan does not involve any administrative or notary fees. You reimburse the same amount each month with a fixed interest rate and thus spread the fees. You choose the duration and the amount of the monthly payments yourself. The interest rate is also lower than for other loans.

 

Other tax benefits

When the home improvement loan appeared on the market, it was fully tax deductible. This is no longer the case today.

Certain works, such as insulating the roof, remain nevertheless fiscally attractive since you can deduct a percentage of the cost of the works from your contributions. And at the same time, you will reduce your energy bill. A double advantage, therefore!

Are you investing in the security of your home and it’s over 10 years old? You get an additional benefit. You will only pay 6% VAT instead of 21%. These works are also tax deductible.

 

Conditions for obtaining a renovation loan

Any homeowner can take out a home improvement loan and take advantage of a low rate. However, you will have to prove that you are actually renovating using quotes, invoices and other official documents. A renovation loan can also be granted to you if you buy a new property whose finishes you want to carry out in several stages, or if you need capital in addition to your mortgage loan. Is your house over 10 years old? You benefit from the reduced rate of VAT, 6% instead of 21%, on the works.

The duration of your loan depends on the amount to borrow and the monthly payments that you are able to repay . Make an accurate estimate beforehand, because borrowing money also costs money .

 

Competition between banks and credit institutions

The home improvement loan remains very popular. Many financial institutions offer this formula, which generates competition between them. Credit agencies determine the interest rate for their loan themselves, there is no universal rate. Each also offers specific benefits. You must therefore carefully compare the different proposals and their advantages. An independent credit broker can advise you.

 

Compare and find the best home improvement loan

Lite Lending is a credit counselor who compares the offers of several credit institutions. We submit your request to them and present you with a fully tailor-made proposal.

A renovation loan from Lite Lending is therefore always the most advantageous for your situation. We take into account the amount to borrow, the monthly payments and the interest rate. Do you want to get an idea? Make a simulation for your renovation loan.

Discover the solutions for obtaining a loan between individuals without any cost, an alternative financing solution avoiding the banks and brokers that are found in the classic bank loan mechanism.

 

Get a loan between individuals

The current banking system has several limits, limits which will often have repercussions on French people who need to finance a personal project or to face an unforeseen expense. The banks’ refusal sounds like a blow, but it is important to know that alternative solutions exist and can allow funds to be obtained quickly. The debt ratio, the bank details, or the lack of confidence in the banks can justify the use of loans between individuals.

There are two possibilities to obtain a loan between individuals or use a loan platform between individuals, these are platforms that allow connecting individual investors with money to lend and individuals wishing to obtain a sum to finance a personal project. The other solution is to apply to a friend, relative or a third party for a loan of money, with the establishment of a contract between the two people.

 

A loan between individuals without any fees in advance

Lending platforms between individuals generally require a contribution from the borrower in the costs of using the platform. These are costs linked to the provision of a service for filing an application, the constitution of the file and therefore file costs, costs also providing a commercial service to inform and guide users of the platform. The interest is simply to be able to finance the service provided by the platform and above all to secure the borrower’s request, which justifies providing fees at the signing of the credit contract.

The only solution to pay no fees in advance remains to turn to money loans between individuals without matching service, it is therefore necessary to be able to find a person of trust and especially to establish a loan contract mentioning the conditions for reimbursement, this contract should ideally be drawn up by a professional (notary, lawyer), which can represent a higher cost than for a loan platform among individuals.

 

A loan between individuals: without proof?

Any loan request, whether from a credit institution or an individual must require providing basic information such as the identity of the applicant, the lender, but also information on the domicile and the income of the applicant. These supporting documents are not necessary during the study but they must imperatively be provided to validate the loan file between an individual and obtain the funds. Lending platforms between individuals do not hesitate to request a more complete list of documents to provide both the borrower and the lender with security on the identification of the two parties and on the repayment of sums. Mandatory information, regardless of the identity of the borrower.

Do you aspire to a house where life is good thanks to good insulation but you do not have the necessary budget? The installment loan from Agree Bank is the solution to immediately benefit from an ideal temperature at home.

Insulating your home is always interesting because of the many benefits that accrue to you and the environment. In addition to improving your comfort and reducing your energy bill, you increase the (rental) the added value of your home. You and the next generation will benefit from your ecological investments for a long time to come.

 

Control your budget

Such investment pays off in the long term because it allows you to achieve great energy savings and save the planet. But the insulation work is not free. Do you want to make your projects a reality without delay and take immediate advantage of them? A renovation loan, in the form of an installment loan, is the solution. Did you also know that renovations are eligible for various bonuses? Get the details.

A loan will allow you to have a sufficient budget without having to break your piggy bank. In addition, you can spread the costs by reimbursing each month an identical amount at a fixed interest rate. You choose the duration and the monthly payments yourself. Finally, the interest rate is very attractive and lower than for other loans.

 

The conditions to be respected

If you are a homeowner, you can get an installment loan and benefit from a reduced rate. You will have to prove that you are starting insulation work using quotes, invoices, and official documents. And if your house is more than 10 years old, you will only pay 6% instead of 21% VAT.

Your loan depends on the budget to borrow and the amount you will be able to repay each month . Make a correct estimate and ask a specialist for advice, because borrowing money also costs money.

 

Find the best installment loan at Agree Bank

Credit agencies determine the interest rate on their home improvement loan themselves. As an independent credit counselor , Agree Bank is therefore your preferred partner. We compare the offers of the different organizations and present you the most advantageous proposal according to your situation. We take into account the amount to borrow, the monthly payments and the interest rate.

 

2016 has been a successful year for the Valencian company Best Bank, dedicated to loans between individuals. During 2016 it has managed to manage, nothing more and nothing less, than a total of 2,700,000 USD in its loans. An amount that represents a volume ten times greater than that obtained during the previous year. The forecast for 2017 of this company implies reaching 17 million USD in its loans.

To invest your savings and make a profit on them

Today Best Bank, one of the largest private lending companies in Spain and has a total of 4,000 registered investors. Among those investors, 98% have made a positive return on their shares. In addition, the average return on investment is almost 7%. Which makes Best Bank a very viable alternative. Whether you need a loan or if you want to invest your savings and make a profit on them.

But how does Best Bank achieve these excellent results? Thanks to its algorithm, with which the security between lenders and borrowers is superior to that of other methods that are currently on the market. And to achieve these excellent results, the Valencian company is very clear:

• Look carefully and pamper all the loan requests they receive. To the point that only 2% of all of them are finally managed by Best Bank.
• Ensure the creditworthiness of the borrower. In this way the lender has greater security of being able to recover his money and obtain greater benefits for him thanks to the high returns.
• Give investors real options to decide what to invest their capital in. One of Best Bank’s main interests is that its investors have absolute control over their money. The idea is that they can make decisions at any time and from anywhere in the world. Likewise, it is sought that they can track their actions at any time.

How does the company Best Bank work?

Best Bank is based on putting reliable and trustworthy people in contact. On the one hand to future borrowers and on the other to those entreprenUSDs or companies that need capital.

1. At Best Bank, anyone who meets the company’s requirements will be able to get between $ 1,000 and $ 10,000 to return between 6 and 48 months. Time to be set at the time of requesting the loan.
2. Once the request is received, the company is responsible for verifying all the information and assigning a classification to the new profile based on its level of solvency. This level is calculated based on expenses, income, demographic profile and repayment of previous loans. Once classified, if the project has been validated, it will be published on the company’s website.
3. Here is the time when the lender comes into play. That person interested in investing her capital can enter the website and review the projects in progress of the platform. They will be able to choose the most suitable one and invest according to their interests.
4. Meanwhile, the person who receives the loan will return the capital each month. The lender will recover your principal and receive the interest during that period.

In the credit disbursement sector, the meaning of blacklist, in English blacklist, mainly indicates all those hypotheses in which payment problems occurred in the face of any loan disbursed. We have underlined the term “mainly” because there are cases in which the enrollment in a black list prescinds, as we will see, from a real loan but you are still enrolled. 

The white list or white or positive list

There is not only the black list of loans but there is also what we, on the other hand, can call the white list or white or positive list or the one in which all those who have regularly paid the loans are included: if the black list makes access to credit difficult, the white list facilitates it. But let’s go back to blacklisting by explaining some important things. So, loans also in black lists or bad payers lists: how to get them? It depends on the type of blacklist in which you are registered but also on the work done!

Bad pay blacklist: what are they? First of all, with the phrase “bad payer” many individuals are identified, both natural and legal persons, regardless of the blacklist in which they were inserted: in any case they will be called in this way. So, we have many blacklists: individually it is called database, risk center, sic (Credit Information System) etc., preceded by nouns and/or adjectives such as register, archive, list or, indeed, lists. Let us briefly indicate them: the Crif – Eurisc, which is certainly the most important, then there are the Experian, the Cerved and the Ctc.

A black list does not always derive from a failure to pay installments

There are other specific black lists such as Assilea (which concerns leasing), but we have that of the protested (Rip), that of foreclosures and bankruptcy subjects. At the beginning, we said that enrollment on a black list does not always derive from a failure to pay installments: well, this is the case with the Cai blacklist. In the latter one can end up in behavior linked NOT necessarily with late payments. Before moving on to some of the solutions that allow you to also grant loans to members in the black list, we indicate the times of permanence in a black list.

Length of stay in the crif: how long does it take for automatic deletion from the crif? In the worst case scenario, you can stay on this black list for many years… In many sites, you read 3 or 5 years! Well, in a sense it is true, pity that the aforementioned sites do not ask the following question: when do the aforementioned years pass? Well, the decorum for the automatic cancellation from the crif runs, in the case of loans that will never be reimbursed, from the extinction date foreseen in the contract! By way of example: we have a 15-year unpaid loan from the fourth year onwards: we remain registered for another 14 years or 11 (the remaining years) + 3 (those foreseen by the CIFR). Not only.

Automatic cancellation of protest register

There are cases in which the automatic cancellation can take place after 5 years: to establish it, in 2017, it was a provision of the Privacy Guarantor under which the five-year period CANNOT be exceeded even if there are reports of updates subsequent to the primary, initial one.
Automatic cancellation of protest register: this also occurs after 5 years from publication. Following is the list of foreclosed persons (Rid): the cancellation occurs after two years if the foreclosure has satisfied the creditors, after ten years otherwise. Finally, the automatic cancellation CAI: this occurs after two years if it concerns the cards, six months in the case of checks. Now we come to financing in black list or how to have access to credit despite the black list?

Loans also on the black list: how to get them? Remember that, in addition to the blacklist type, we said it detects the job? Well, in all those cases in which we can sell the fifth (or double) we will NOT have problems: the transfer of the fifth, from this point of view, is very powerful: it does not matter what type of suffering the black list registration has generated, yielding our share, we will still have access to financing. And in case we can NOT give it up? Then you need guarantees, which you can view generically on loans for reported crifs without assignment for self-employed workers or the more specific ones on loans for protestors or at loans for foreclosures. If the report concerns the CAI plant, see loans for CAI reported.