Understand How Mortgage Financing Works

Economic instability (rising interest rates and falling prices) has caused many people to return to the homeowners the real estate that they bought, in 2016 alone more than thirty-seven thousand units were returned, according to BREDINC. (Brazilian Association of Real Estate Developers), there was also a 60% increase in cancellation actions between the first quarter of 2017 and last year. The return procedure is called real estate cancellation. Futher reading at http://dmsband.org

If you are one of the victims of the crisis or are interested in knowing about the process that involves the breach of real estate financing agreement, read on. Keep reading!


What is real estate cancellation?

real estate

Contractual termination is the act of closing a legal relationship established between the parties (buyer and seller). Thus, when one of the parties intends to terminate the contract, it must make a formal notification to the other party and prepare the contractual termination, this document establishes the conditions of termination of the partnership signed. Among the conditions that need to be determined, for example, is the expected return of amounts paid, the form of return, the fine values, etc.

Real estate cancellation, specifically, happens when someone who intended to buy a property in the plant gives up the deal after having already signed the contract with the developer.


What are the consumer rights in the cancellation of real estate financing?

What are the consumer rights in the cancellation of real estate financing?

It is important to point out that the cancellation of real estate financing in the plant is not only requested when the buyer is no longer able to pay for the property – although this is the main reason in most cases – it is also an appeal in cases of late delivery of the property. units by the construction company. However, know your rights in this situation:

  • Even customers who have arrears may apply for cancellation, it is only necessary that the request be formally filed (in writing).
  • Even if the cancellation request is for inability to comply with the values ​​of the property, the consumer can not lose all the value invested in the property;
  • The buyer of the property can, and should, seek legal aid if the builder or developer refuses to accept the cancellation request, or if the withholding value is above the allowable amount.


What are the refund rules for cancellation?

home loan

It is the right of the buyer to receive part of the money invested in buying a property in the plant when the withdrawal part of it. The return of the values ​​follows two criteria, the first of which is directed to popular properties, as in the case of works under the Minra Casa Minra Vida program, in which case the builder may keep up to 10% of the total value of the property, as long as the value retained does not exceed 90% of what has already been paid by the buyer. The second criterion is for more expensive real estate, in which case the amount withheld may be up to 20% of the amount invested, the amount of the signal paid is also withheld.

Everything You Need To Know About Home Financing

Financing property is a great option for realizing the dream of home ownership. With planned values, it is possible to acquire the good, leave the rent and guarantee equity. Before starting similar process, however, it is important to know some details of the option. After all, they will allow security throughout the installment payment period.

That’s why we’ve listed seven things you need to know about financing. Check out!


What is Property Financing?

Property Financing?

Financing is a loan, possible in banks and specialized companies, where the consumer acquires all the necessary value for the purchase of his property, and then pays monthly installments until repaying the amount.

Property financing allows the purchase of the property in cash, with payment of monthly installments later.

Installment plans usually last up to 35, with duration varying according to the value of the asset and the installments. For these same reasons also vary the interest rate charged by the financial.

Up to 90% of the property value can be financed.


What are the requirements?

To purchase a property in installments, the client must be over 18 years and have fixed income. It also needs to have a “clean name” in the market, as its credit will be evaluated on the Credit Protection Service (SPC) and Centralization of Banking (Serasa) lists.

In addition to these, the bank also requests input value of the plan. Generally, the amount corresponds to 10% of the total cost of financing, and must be delivered upon adherence to the contract.



money loan

  • Leave the rent
  • Possibility to use your FGTS
  • Immediate use of the property



  • Accrual of benefits
  • Bad choice of location
  • The bank can receive up to three times the value of the property.


Step by step

loan requirements

In order to get credit, the interested consumer must first search among various financial institutions, as conditions and rates vary widely. Civil servants even have more advantageous opportunities in some institutions.

After this step, you need to do simulation. The websites of the banks themselves offer this possibility, which requires, for example, estimated value of installment and real estate, and monthly income.

When the simulation pleases, the user should attend a physical bank branch or company, with documents such as ID, CPF and proof of income and address. Personally, he will be able to request more details about his future plan, and show interest in it.

For proof of monthly income, the client may also offer proofs of the person who will enter the loan jointly. Considering that only 30% of a home’s monthly income can be committed to the values, the strategy ensures greater amount for credit consideration.

Soon, the creditor will analyze the credit. If approved, the customer will sign the contract and assume the responsibility for monthly payment of the property purchased.


Interest rate

The values ​​of financing interest rates vary among companies, property value and repayment term. The values ​​are set at the signing of the agreement and cannot be readjusted during the plan.


Is it possible to use FGTS

Interest rate

Employee Severance Fund (FGTS) resources are available after three years of contribution. They can be used for residential real estate financing when it is for property located in the region where the user lives and / or works.

The possibility of using the amounts is in the offer of entry of the plan, payment of late installments or even final payment of the amount due to the bank.


Spending goes beyond Financing

When buying the property, the new owner of the property must bear documentation of the location, which will prove who owns the property after the transaction. There are also expenses with Real Estate Transfer Tax (ITBI), charged by the city and corresponding to 2% of the property. The amounts may be included in the financing installments, but the option must be requested upon adhering to the plan.

In addition to spending on financing, homeowners must bear real estate taxes.

A construction also requires the annual payment of the Urban Property Tax (IPTU), and any costs with moving to the new space and renovations.


You Can Lose Property

property loan

When not paying their installments on time, the consumer is subject to the payment of fines and, for longer periods of default, loss of property. This is why planning finance over the years is so important.

Got a question about property financing? Send it to us in the comments!

All the possibilities of canceling a credit insurance contract.



Cancel your mortgage insurance

Cancel your loan insurance

When you remove a mortgage loan from a financial institution or other credit organization, you must also take out loan insurance policy to guarantee the loan. If you want to cancel your mortgage insurance policy, pay attention to the following outlines. We explain below methods to cancel your loan insurance coverage according to the standards:

Cancellation of a group insurance coverage contract

Cancellation of a group insurance contract

If your mortgage is nearing completion, there is no need to go through a cancellation procedure because loan insurance generally has the same due date being a loan. Indeed, loan insurance plan is valid for the duration of that loan and ceases as soon as it really is repaid. However , if your debtor insurance has a duration associated with coverage different from the pay back term of your loan, it is strongly recommended that you find out from your bank.

In the event that you get an early repayment of the credit score, the situation is identical to that particular of the paragraph above.

However , the situation is pretty different if you are in the process associated with repaying the credit plus must imperatively benefit from the protection of your loan insurance to ensure the loan until the maturity. You should know that you can discuss with your banker the replacing your group insurance agreement with an individual insurance agreement. Individual loan insurance will set you back less than the lender group agreement. If this is your wish, you should obtain the agreement of your bank and then send him the delegation contract.

Simulation, Quote and Assessment of Credit Insurance

Simulation, Quote and Comparison of Credit Insurance

Cancellation of an individual insurance policy

Cancellation of an individual insurance

It is easier to terminate an individual insurance contract than the usual group contract, but particular conditions must be respected. For every contract, you most often come with an annual right of termination corresponding to the anniversary time of the signature of this 1. To do this, you must send simply by registered mail your termination request to your insurer a minimum of two months before the end from the contract.

Terminate During Application for Mortgage Insurance Membership

There is also the option to pull away for a limited period right after your loan insurance regular membership. Usually a month, this period enables you to cancel your credit insurance policy and replace it along with another formula that is a lot more advantageous.  

Cancel loan insurance within repayment

For those who have a loan in the process of being returned, you will not be able to cancel your own insurance without the consent of the bank, which will require you to change it with an equivalent ensure.


Payday Loan Without Employer Certification

Banks are required by law to lend only if they have regular income, as this will actually be the cover for a Payday loan. If you have a decent income, one way to prove it to your bank is through an employer certificate. Income is also important because it determines the creditworthiness limit of the credit institution. All banks agree that the higher their earnings, the higher the amount they can safely withdraw. In terms of the amount of the loan, credit institutions can give up to three to four times more income to loan applicants. Now let’s look at how to take out a Payday loan without your employer’s certification. Can it be recorded at all? The answer is yes, there is a solution for taking out a Payday loan without your employer’s certification. Employer certification can be avoided, but income is essential to borrowing. Banks also agree on the type of income they accept when borrowing, that is, what is considered income when borrowing.

Credit institutions recognize two types of income when applying for a loan:

Credit institutions recognize two types of income when applying for a loan:

  • Primary income (self-sufficient): the salary you receive as an employee; as an entrepreneur, the wages paid to himself; retired as a pensioner
  • Secondary or supplementary income (cannot be assessed by the bank independently, but can be counted towards primary income): GYES, GYED, family allowances, social benefits, scholarships, dividends, equity, etc.

Payday loan Without Employer Certificate: Income Certificate

Personal Loan Without Employer Certificate: Income Certificate

So there is an opportunity for banks to lend on the basis of income without the need for an employer certificate. However, it is important to know that some kind of proof is necessary. Usually this is a 3-6 month bank statement as an employee. If you are borrowing as an employee, you have the following options:

  • As a pensioner, it is enough to bring a pension card (master card) to the bank, or a 3-month pension voucher if you do not lend at your bank and the bank does not see that you are receiving your pension.
  • As an entrepreneur , you must apply for a certificate of income from the previous year and in some cases the financial institution may also request a certificate of NAV 0 from the company that you have no public debt or tax debt.

If the bank does not consider the repayment of the loan to be secured, it may order collateral and guarantors for the loan agreement, or, if the purpose of the loan is over-used and justified, it may secure the repayment of the loan by involving a debtor.

Payday loan Without Employer Certification: Foreclosure Reasons

Personal Loan Without Employer Certification: Foreclosure Reasons

  • Minimum 3 months employment, but some where 6-12 months are requested. Probationary period, notice period are grounds for exclusion.
  • Fixed-term employment contract. (Some banks accept a 12-month contract.)
  • There are no valid Hungarian identification documents.
  • It is on the Central Credit Information System (KHR) negative list of debtors (There are financial institutions that also lend to KHR listers).

Payday loan Without Employer Certification: Possible?

Personal Loan Without Employer Certification: Possible?

Payday loans are offered by almost every bank. Applying for a Payday loan is faster than having your own bank where you arrive. The terms of a Payday loan may be more advantageous if you apply for a loan from a foreign bank because you may receive an interest rebate on certain promotions, along with a transfer of interest. Credit institutions usually require a 3-6 month bank statement when applying for a Payday loan, which includes your income. In addition to the bank statement, the bank may also request utility bills and telephone bills for a period of at least three months. Not all banks have the option of taking out a Payday loan in cash. If you have a bank, you need a certificate from your employer. Borrowing also requires other documents that you should know in advance so that they do not hinder the borrowing process.

Use the Bank Payday loan Calculator to choose the best loan structure. You’ll find offers from multiple banks in one place, and our system will help you choose the best deal.

Best Payday Loan Deals – Find the Best Deal and Choose Consciously at Christmas!

Let’s say we need some credit temporarily to shop for Christmas and buy gifts . The APR of a credit card with a $ 400,000 credit line for a minimum wage is at best 36.51% and overdrafts above 20% APR. At the same time, a $ 400,000 payday loan with a two-year maturity can be taken at a much cheaper rate, up to 11.57 percent APR, so the monthly repayment will be $ 19,163 from the second month if we commit our payment to the bank.

These are the best payday loan deals

These are the best personal loan deals

We can borrow even better than the above if we meet the conditions set by the bank or take a good deal . Discounts are increasing around the holidays, whether in the form of a bonus or a rebate. The almost constant actions do not disappear:

  • An interest rate discount of 1-2 points is typical if we undertake to arrange the payment to the creditor bank.

  • If the income received by the bank exceeds the net HUF 250,000, we may receive an additional interest discount.

Let’s take a look around the banks house for the best payday loan deals in early December:

Good Finance Bank promotional payday loan

Good Finance Bank promotional personal loan

Until December 17 this year, we will be able to take out a special payday loan from Good Finance Bank. This promotion gives you a 1 percentage point bonus when you use an online coupon.

To do this, you need to provide a name, phone number and email address on the website and request a call back. Good Finance Bank customers have the opportunity to apply for a loan through netbank without having to go to the bank branch. Claiming online can be done in 45 minutes, including a credit assessment, so you can earn money in just one hour.

Things to Consider Before Selecting a payday loan

Things to Consider Before Selecting a Personal Loan

Before deciding which loan we need, it is worth thinking carefully about the details, as this is the only way to make sure that the payday loan you look for is not a bad choice in the long run.

  1. Do we really need credit? The first thing to think about is whether it is even worth borrowing for the purpose you have set. As Christmas approaches, let’s not forget that the essence of the holiday is not about gifts, but about being together with those we love. Once you have taken out a loan, it is worthwhile to spend it on purposes that drive water to our mills, such as earning money. It can be a training or a tool to work more and better. What really matters is that we have the right credit and not chase the unattainable luxury with the loan.

  2. How much credit to take? Let’s not get tempted by ads or want to borrow more than we originally planned. The bigger sum has to be paid back somehow, and if we don’t have it in our budget, we can get a very cold start with a badly chosen payday loan. Plan well in advance as to what and how much we can repay.

  3. How long should we take? Also, consider the time period before you want to pay your monthly installment. Prepare for the unexpected! What happens if we get sick or lose our job? Will we still be able to pay the loan? In such cases, an emergency reserve or a credit insurance may be useful. Anyone who qualifies can repay the loan with a short term but with a bigger repayment. For those with only a small spending budget, you can pay off your debt with a longer maturity and lower installments. It is important that we consider the risks and choose the maturity accordingly.

Financial planning – Do you know what your expenses are?

With the word financial planning you may think of companies where this is taking place. But actually, every person should do financial planning. How much money comes in and how much goes out?

Financial planning and a financial plan

Financial planning and a financial plan

Many of the expenses can be planned well. For example the monthly bills for the electricity, the mobile phone and the different insurance are all visible. The weekly shopping can also be estimated properly.

What is more difficult are the unexpected expenses. However, these are often also the expenditures that are larger in size. If, for example, the washing machine or TV breaks, you will have to spend a considerable amount to replace it.

Unexpected expenses

Unexpected expenses

Good financial planning is extremely important for unexpected expenses. Make a good estimate of all the devices that you have in house, but also for example the car, maintenance and MOT.

You should actually set aside a monthly amount that would cover the costs of repair or replacement. A kind of financial plan that takes into account your financial situation and where you include the risks of unexpected expenses.

Just take your time

Just take your time

It may sound more complicated than it is. Just take a few hours to do it and put everything down on paper, or better yet just create a simple excel spreadsheet.

Doing this will immediately make your financial situation a lot more transparent, which can prevent many problems in the future. Moreover, this will give you a certain degree of courage.

Still unexpected expenses

Still unexpected expenses

If you have made a good financial plan for yourself, it can of course always happen that there are unexpected expenses that you had not planned. Or the expenses come earlier than planned.

A washing machine, for example, often lasts around 10 years. But it can, of course, occur that it will collapse after, for example, 5 years. And then you may not have put enough money aside to replace it.

Or maybe you have found the vacation of your dreams, but you have not yet received your vacation pay. In order to secure your vacation, you could consider using a flash credit to borrow money in the short term.

In such cases you can make use of a so-called mini loan. This is a type of loan where you can borrow money quickly, without much bureaucracy.

By default you can borrow an amount up to approximately 1400 euros. There is here no credit check done making the application process much faster. However, a so-called guarantee is often requested. This means that there is someone who guarantees that the loan will be repaid. This can be someone you propose yourself, such as family or friends, but can also be arranged by the credit provider.

For example, a provider of such credit that you can get in the Netherlands is Dapodle.

Quick Mini Loans and Mini Loans Online

When to ask for mini loans online and easy?

When to ask for mini loans online and easy?

You may need money urgently at a time when some unexpected expense arises such as a car breakdown, passing the ITV, a vacation trip offer that you do not want to miss, go to the dentist, go to the physical therapist for a sports injury, etc. .

When any of these things happen to you you have some easy options to get money quickly, and we advise you to try before applying for mini loans without requirements, such as:

  • Ask for money from a close relative.
  • Get some friend’s money.
  • Sell ​​something you no longer use in a second-hand store online.
  • Ask for an advance of the payroll at work.
  • Use the credit card if you have one and defer payment at the end of the month or until you get paid.

If none of these options is already viable for you to get fast money mini-loans, then it is the time when you should try to apply for mini-loans at the moment online because it may be your only option.

How to apply for fast mini loans online?

How to apply for fast mini loans online?

With Loanpressonline you can ask for 50 to 6000 euros in 10 minutes Immediate Response! 100% Online and without Paperwork.

Our system to get instant mini-credits online works as follows:

  1. Fill in a simple form with your basic personal data.
  2. Instantly we look for one or several companies that are willing to grant you a mini loan of the amount you need.
  3. You select the most suitable loan offer or your cash needs.
  4. In 15 minutes and according to the application schedule, since it depends on the bank’s schedule to make the transfer, you can count on the money in your personal bank account.

With this system you save looking for mini-loans online in hundreds of pages online, to see which one can grant it to you, and also fill out dozens of forms so that in most cases you can’t get the money.

Among the companies we work with are the most important in the sector of mini loans in Spain such as Viloan, Creiditto, ATM credit, etc. You can check some external comparator.

What do I need to get a Mini Loan in Spain?

What do I need to get a Mini Loan in Spain?

Usually and depending on the company that you select the basics you need to apply for mini loans online in Spain is:

  • Be of age.
  • Have Spanish nationality.
  • Have mobile phone operational.
  • An account number in which you figure as the holder, have a bank account.
  • Your ID / NIF / NIE
  • Not always but many times you need to prove a stable source of income such as payroll, pension, unemployment benefit, etc.

These requirements to apply for paperless mini loans vary between companies.

Bridging Home Savings Loan

It is really worth considering the new opportunities that financial institutions have come up with. Bridging loans are already available at three banks, allowing you to take home savings combined with a home loan much sooner than usual.

Of course, the amount is spent on housing and creditworthiness is a condition. You can apply for a bridging and immediate bridging loan at Good Finance Home Savings. For the time being there are few cash registers available, so check this out.

Who might be interested in this? Those who would like to take advantage of the benefits of LTP, but would instead need the financial help to buy or renovate real estate, instead of 6-8-10 years.

An advantageous option is even more preferred


Home savings are the best savings conditions – a 30% state subsidy is a major contribution but can only be used for home purposes – so you don’t have to wait until the end of a multi-year term.

Home savings must be accompanied by a mortgage; the bridging loan allows you to prepay the amount accrued over the entire contract period as well as the amount of the home loan. You will then have to pay this in monthly installments.

The constructions are fairly recent, the details are not yet fully published

Banks have not published any repayment tables, so it is worthwhile to find out more about it in person.  

What is certain is that the term is the savings period plus the repayment period of the home loan plus the 3 month payout period (except for, where the maximum is 156 months). The interest rate on a “home savings loan” is fixed, so we do not have to wait for increasing installments.

Property coverage is required


In the case of Goodbank, if we do not withdraw the money immediately, but after 2 years, the interest is cheaper. So a little patience makes for a cheaper repayment – but 2 years is very beneficial, with exceptionally good home savings with savings.

What you should keep in mind is that, as we have written above, in addition to home savings, the mortgage must be included, so this is a combined offer where two products are sold to us.

The home loan portion requires a creditworthiness test for the contract, and we also need to have real estate collateral to start the bridging loan.