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Children help purchase home loan

Unsuspectingly, the parents of Christophe and Philip take out a home loan to help their children with the purchase of an apartment.

Only when Christophe wants to take over the mortgage loan from the parents with a new home loan does it become clear that his request for refinancing of the mortgage loan is not obvious to his bank.

Parents take out a mortgage loan to help children

Parents take out a mortgage loan to help children

The parents of Christophe and Philip thought about ten years ago that they were going to help their sons with the purchase of an apartment. Christophe and Philip are still studying and have no professional income.

The two brothers see an apartment. Conveniently located. Affordably priced. They consult with their parents. They want to help their children with the purchase of the apartment. Together they go to their house banker.

Housing credit for parents – children become the owner of the apartment

Housing credit for parents - children become the owner of the apartment

The house banker faces a difficult job. Two students, without income, want to buy an apartment. The parents want to help.

The home loan can be allowed. But neither Christophe nor Philip have the repayment capacity. The bank grants a mortgage loan to the parents where the two brothers become the owners of the apartment.

This creates the following strange situation. The parents are the borrower but not the owner. The children are owners but do not have a mortgage loan.

Christophe only becomes the owner of the apartment

A few years later Christophe met his wife Isabelle. The young couple decides to live together in the apartment. Christophe and Isabelle correctly repay the parents’ mortgage loan. They still want to stand on their own two feet. For this they only want to become the owner and have the mortgage loan in their name.

After family consultation, Philip agrees to waive his ownership rights in the apartment so that Christophe and Isabelle only become owners. Now they still have to go to the house banker for the refinancing of the mortgage loan.

Good Finance does not respond to a request for refinancing home loan

Good Finance does not respond to a request for refinancing home loan

The young couple are now working and want to take charge. They want the home loan to their name. Due to the continuing fall in interest rates, the couple could also benefit from a good interest rate for their mortgage loan. Full of hope they make an appointment with the house banker.

The house banker does not respond to the request for refinancing. The home loan is not in their name. The bank refuses the refinancing. The young couple do not know what happens to them. At the time it was this banker who had advised them on this construction and now he no longer wants to help.

Other traditional bankers also find the construction too strange and refuse to take over the current mortgage loan.

Yet new future through new mortgage loan

Yet new future through new mortgage loan

They are desperate. Isabelle and Christophe still get what they are entitled to. A new future with its own mortgage loan. Their credit broker knows how to advise. The request for a new home loan is being legally examined. In this case, a new mortgage loan can replace the current home loan. It is about preserving real property rights. Christophe and Isabelle want to keep their apartment. Even if they repay the mortgage loan correctly. Refinancing is also a good solution for parents. They no longer have a debt.

If you have children and you want to help them with the purchase of their home, it is best to make an appointment with an independent credit broker in mortgage credit. You explain the situation after which the credit broker can start looking for an appropriate home loan.

Financially united couple, stay together

Marriage is a life decision that brings with it many implications: sharing dreams, activities, projects, responsibilities and as if that were not enough to share money. The magic of falling in love, emotion and enthusiasm to start this new stage leads spouses to believe that the only things to share are feelings and thus exclude financial compatibility from their list of requirements.

We mistakenly believe that money does not matter when two people love each other, but reality shows us that financial conflicts are one of the main causes of divorce: lying about wages, recharging financial obligations in one person, considering money as A symbol of power in addition to disagreements in investment and saving can make the most special blessing a true torment.

 

Family finances have a cycle that no couple should ignore

Family finances have a cycle that no couple should ignore

In the first place we find the accumulation of capital that is nothing other than that moment in which the couple begins to build their assets basically merging income, savings and the occasional extra income.
The second part of this cycle includes an increase in capital because it is at this stage where couples decide to share expenses and incur in purchases of common goods: house, car, farm, etc.
Once there is a growth in family assets, there is a need to preserve the built capital and with this the appearance of the third phase.

 

Finally, the new family faces the fourth and final stage

Finally, the new family faces the fourth and final stage

The Transfer of Capital, which is undoubtedly the litmus test for financial compatibility because this is where the pros and cons of saving or investing money are evaluated and obtained A consensus between the parties.
In order to overcome these four stages of the financial life cycle of marriage, it is important that you and your partner take these recommendations into account before you say yes:

 

Detect common financial objectives

Detect common financial objectives

Your partner will be your most important financial partner, for this reason the goals and dreams you wish to achieve must be compatible.

 

Save together

Creating a culture of savings will help them protect the capital they have built. It is essential that the money saved allows them to achieve their short, medium and long term objectives as well as to create a contingency fund that allows them to be prepared for any economic crisis.

 

Be honest with your financial situation

Be honest with your financial situation

Trust is key in a couple. Try to be clear when talking about your income, your investments and your debts. This will identify common priorities and prevent them from getting involved in unnecessary misunderstandings.

 

Align in Investments

It is important to know how risky your partner is in financial matters. If you are one of those who invest in volatile shares and your partner prefers to do so in real estate, be careful! If the money to be invested is part of the family assets, it is favorable that they make a joint decision in this regard.

 

Make a distribution of responsibilities

Align in Investments

The distribution of family expenses must be clearly defined. Ideally, share expenses and avoid dividing them so that neither party feels disadvantaged.

Loans – Facts and price comparison for those who want to borrow USD 7,000.

For those who want to borrow USD 7,000, there are two options. One is to take a small private loan and the other is a micro loan of the slightly larger model. Here we will look at these two options a little closer.

Consumer Lending

cash

The big banks usually start lending money in the form of private loans from about USD 20,000. However, there are a number of smaller lenders that lend out much smaller amounts. It is thus one of these that you can aim for. Something that you must then keep in mind is that all lenders who lend from, say, USD 5,000 will not have loans of USD 7,000 in their range. This is because they only lend at intervals of USD 5,000. But there are some lending institutions that lend out as little as USD 1,000 in the form of private loans where you can easily get a loan of just USD 7,000. However, they are not very many.

You can then repay the debt for a longer period

You can then repay the debt for a longer period

The big advantage of a private loan is that you can then repay the debt for a longer period. A regular private loan never has a maturity of less than 1 year and this can normally be up to about 5 years. Thus, the monthly cost will not be as high as for a micro loan. But one thing to watch out for is that it often actually becomes more expensive overall to borrow in this way. Even if the interest rate is lower, you pay it significantly more times, which leads to a higher total price.

Microloans

Microloans

The second alternative is a micro loan of USD 7,000. It is still not common for lenders to lend such large sums in the form of micro loans, but more and more people are always offering this. What distinguishes a micro loan of USD 7,000 against the early ones of up to USD 3,000 is that you normally do not repay the loan in only 30 days. Here, instead, the loan must be paid in 2-3 months. Still a heavy repayment per month but not as high as for a shorter loan.

The advantage of a micro loan is that the money will come into the account faster. Then it is also quite possible that it will be cheaper overall. However, this is not something that should be taken for granted why it is very important to compare the different lenders before making a decision. The big disadvantage then is that the loan should be repaid as quickly as compared to a private loan.

We advise on lenders

We advise on lenders

Below you will find a list of the lenders dealing with micro-loans that we have on this site that lends USD 7,000. You can quickly see which ones are the cheapest for this particular loan amount. You can find a more detailed comparison in our large comparison of micro loans of USD 7,000. If it is a private loan you are looking for, the tip is that you visit our department where we compare private loans.

Different ways to compare micro loans – Payday Loans

One thing there is no doubt about is that it pays to compare different lenders before applying for an SMS loan. But how different pages compare can of course vary and there doesn’t have to be anything wrong with that.

How a comparison on a page like this is arranged

money cash

Is largely determined by the technical knowledge and the type of person who made it. We who run Will Ladislaw belong to that category of people who like a lot of info. Therefore, we have put our comparisons everywhere here on the site according to different amounts so that visitors can see what it will cost and so on.

But there are other solutions such as at bestasnabblån.se where you have chosen a much simpler comparison. Instead, they have chosen to focus quite a lot on how much they can borrow for free and a rating on the lenders. Ratings of a kind that we do not have here on the site, for example. Then, of course, there are lots of other sites that compare SMS loans and many of these have something good to offer you who are thinking about borrowing money.

The type of comparison you want as a visitor varies, of course

The type of comparison you want as a visitor varies, of course

If you want to find something fast maybe our site is not the best but my example fits much better. What matters most is that you really compare lenders before anything else is done.

For very large differences it can be and it also does not have to be the same lenders who are cheapest at SEK 10,000 if they are cheapest at SEK 2,000. An example of how big a difference it can be is that the difference between the cheapest and most expensive lender offering SEK 7,000 over 60 days is over SEK 1,000. Then we talk about exactly the same type of loan in general, only the price differs.

 

The savings revolution in your home

We know. We are in the middle of summer, a holiday season par excellence, and talking about saving is complicated. However, we believe that saving is important. And even if you are not going to start right now, knowing what the 50/20/30 method is, will encourage you to do so.

The 50/20/30 savings method consists in distributing your income as follows: 50% to cover your basic expenses, 20% for savings and 30% for your personal expenses. As simple as this. Thus, knowing the monthly budget available for both expenses and savings, it is easier to meet. By respecting it month by month and seeing how your savings grow, you will feel more motivated and unintentionally, you will be acquiring a good saving habit.

This saving technique is increasingly common and a strategy to start building an emergency fund. That is, that mattress to throw in the face of possible unforeseen events without having to borrow money from your relatives or resort to external financing.

 

Implement the 50/20/30 method

On other occasions, we have talked to you about different savings methods, such as the 4% rule , the 52-week challenge or the Kekeba , among others. The 50/20/30 is another one of them. Neither better nor worse. One more with which to save once and for all.

The key to success is to put it into practice as copper. That is, distribute your income as follows:

50% for your basic expenses

basic expenses

By basic expenses we understand, the mortgage or the rent, the light, the water, internet, telephones, community expenses, shopping cart, transport, loans … That is, those expenses that you have to face every month, Yes or yes.

 

20% to save

piggy bank

To be able to respect this percentage it is important that you separate the corresponding amount from your usual expenses to avoid falling into temptation. Enter it in an account other than your usual checking account.

Imagine that you have implemented the 50/20/30 method and have been doing it for a few months. If you see that the percentage for basic expenses you have money left over, do not spend it. Destine it to this other game and experience in first person the satisfaction of seeing how, little by little, your efforts bear fruit.

 

30% for personal expenses

30% for personal expenses

It is important that you know that these expenses are, in many cases, totally expendable. However, they are the ones that make us enjoy life. Go shopping, go out to dinner, have a drink, travel, treat yourself, buy gifts … Not every month, necessarily, you will have to spend 30 percent of your income on this game. Whatever about you, add it to savings.

Let’s look at it with an example. Suppose you have a monthly income of € 1,500. The distribution, based on this saving method, would be:

  • Basic expenses (50%) = € 750
  • Savings (20%) = € 300
  • Personal expenses (30%) = € 450

 

What do you think, do you see yourself able to do it? If your answer is yes and you are a client of the Cara Rural Group, we encourage you to download the urbanvia report application . An app that will allow you to manage and control your income and expenses easily, quickly and safely.

In a very intuitive way, you will have, at a first glance, the distribution of your income with respect to your expenses with graphics and in a detailed way how your income and expenses have evolved in recent months.

Saving is not easy, we are aware, but it is never too late to do so. We assure you that there is no greater satisfaction than to see how your savings grow.

Good Reasons to Borrow Online

Here are some good reasons why you may want to get a loan online today.

First, it has now become very simple.

Simple loan form can be enough

Simple loan form can be enough

When you borrow on the internet, you do not have to face a natural person who asks you difficult questions or make long phone calls with a finance company. A simple email with some information or filling out a simple loan form can be enough in most cases.

Second , there are now very fast processing times on loans and the financial administration helps to keep the costs of the loan companies low. Therefore, the price of your online loan has also improved.

Fast loan application

Fast loan application

After the loan application has been sent out, it often takes a few hours for a response.

Rarely does it take more than a few days for the money to be transferred to your account. Some loan companies actually guarantee a response within 2-3 hours during the day. Align your personal finances with a cheap consumer loan.

Online Loan Tips:

Online Loan Tips:

Once you have decided to borrow money online, you have the opportunity to optimize the loan process using various tips and tricks. First, a really good idea is to probe the market before you strike.

This way you will find the best deal possible, which will save you unnecessary costs in the long run. Furthermore, we recommend sending loan applications early in the morning on weekdays, which will often result in your loan being processed on the same or subsequent day.

Thirdly, you may want to use specialists who can obtain offers for you from the best companies. You can do this for example. try here.

Finance wedding

The wedding is the event that goes far beyond a marriage bond, to change from one civil state to another . Currently the wedding is a social act that involves a whole series of expenses that are increasing to such a degree that we want such a celebration to be unforgettable for all, both for the parties to the link and for the attendees .

Can a wedding be financed?

wedding

When starting to quote the prices of the banquet, the photographs of the link, the dress of the bride, the trip of honeymoon, etc. It ends up becoming a severe economic ” problem” since it is when the spouses begin to wake up from that dream where they were. They begin to cut out guests, menus, to think about a cheaper dress thinking that it will not be used again, etc.

The obligatory question of the contracting parties is usually how do we pay it? Previously they used to contribute economically to the popes and some relatives, but nowadays the contracting parties are those who decide to cover all the expenses of their ceremony . This is probably because they have found the solution in a bank financing, which helps them to cope with the expenses of said celebration.

 

How to do this activity?

wedding

The banking institutions are beginning to have consumer loans that are adapted to the needs of couples who decide to marry , weddings in banking institutions are financed as follows.

  • The bank requests documents such as the restaurant or garden contract where the ceremony will take place.
  • The signed of the providers as they are the photographers , etc.

The amortization period is usual for this type of credits that go from 5 to 10 years (depending on the amount that is requested). In addition to being able to access a loan to finance the wedding, there are couples who have discovered a new way of managing the gifts they receive on the occasion of their marriage . Modern couples have said goodbye to envelopes with tickets.

Begins to be habitual that the couples contracting in the invitations an account number where, those who wish, can provide an income to the parties , despite the discomfort that was generated in some, it seems that begins to be socially accepted. Nowadays, weddings are not only modernized in the gastronomic and visual aspect, but also financially.

 

Amelia Crowns of a wedding today

wedding day

Although it is still not usual, there are banks that already see all the business surrounding a wedding celebration and there are those who already have comprehensive “packs” to what they start to call “wedding accounts”. At the time of requesting a loan to celebrate your wedding you must make a comparison between the different services of loans or credits to see which is the one that more compensates you according to the money that you need and the pazo in which you can return it. In order to have an idea of ​​what is currently emerging in the market in questions of Amelia Crownss wedding is necessary to consult everything that may interest you .