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Mortgage Liquidity and Debt Consolidation: What it is and How it works

In times of economic crisis like ours, we can find ourselves in the condition of not being able to pay the loans in progress and with the need for additional liquidity to be allocated to various needs.

 

In these cases, liquidity and debt consolidation mortgages can be an excellent solution. 

This is an opportunity offered by the banks to be able to obtain certain amount of liquidity to be used for their projects and needs – mutual liquidity – and to pay off debts already contracted by renegotiating the conditions and repaying everything in a single lower monthly installment – debt consolidation mortgage.

 

Mutual liquidity and debt consolidation: what are they and what advantages do they offer 

The mortgage liquidity is, in essence, an alternative to conventional loans, recommended if you need a larger sum of 30,000 Euros, considering the associated costs of a mortgage. 

The liquidity loan has lower rates than traditional loans and can have much longer duration: 30 years maximum against 10 for classic loans.

 

The main advantages of mutual liquidity compared to a normal loan, therefore, concern:

  • the interest rate
  • duration
  • greater amount of the amount.
  • The requisite to request is the possession of a mortgage-free property that is used to guarantee the requested sum.

 

What is debt consolidation loan?

debt consolidation loan

The debt consolidation loan, introduced by the Italian law with the DL 212/2011 to avoid the excessive indebtedness of the families typical of these years, consists in a mutual substitution. 

This tool allows you to repay certain installments related to different loans, up to a maximum of 5 (for example the home loan + 4 loans), combining them into a single installment of a lower monthly amount and a higher amortization period, making the extinction of debt more sustainable and even simpler. 

Another advantage of mutual consolidation is that it also allows you to change the interest rate, choosing a lower one. 

It is also possible to request liquidity additional to face any unexpected expenses or to be used for the needs of the family with greater confidence. 

 

How to get this kind of loan?

debt

To obtain the loan for consolidation, the applicant must prove that he is not a bad payer, that is, that he has regularly paid all the loan and loan installments, and that he has a regular income or pension or, at least, someone who can help him guarantor in the event of insolvency.

 

Generally, the banks grant a maximum loan corresponding to 80% of the property value.

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How Credit Cards Work

We help you understand how credit cards work

With the credit card you can pay for your purchases over time and make use of over 6,000 ATMs Request information

Few things are more useful in our day-to-day lives than credit cards. As a payment method, this ‘plastic’ is private and non-transferable, so only the card holder can use it.

Besides, credit cards give us access to credit lines that can help make life much easier. Let’s see how.

 

A loan when you need it

loan

A credit card’s main feature is that it enables the cardholder to access a sum of money, even if the money is not currently in the account associated with the card. This is possible thanks to the fact that banks provide loans in connection with the cards. These are credit lines which we can easily access anytime we pay with the card.

As for a card’s credit limit, there are differences between the various types of credit cards on the market. Whether or not a card is granted to a particular customer is tied to the cardholder’s ability to pay.

 

How the money is repaid

The purchases made with the credit card build up on the card, and then they are charged to the account associated with the cardholder in one of two ways:

  • At the beginning of the following month: In general, the charges assessed to the card during the prior month are charged on the fifth day. With this type, there is no interest.
  • Deferred payment: Credit cards also allow customers to defer payments and split them into comfortable installments. This payment method involves interest which varies based on the banking institution.

The after card is NNCA’s credit card: pay for your purchases over time and make use of more than 6,000 ATMs: more information.

 

Services and benefits associated with credit cards

Services and benefits associated with credit cards

Many credit cards currently offered by banks come with a series of benefits. For example, there are cards that offer discounts for refueling at different gas stations, while others return a percentage of the amount spent on purchases with the card. On the other hand, some of these cards have programs in which users can exchange points for discounts or products of interest.

Similarly, some credit cards are linked to some type of insurance. These are the most common ones:

  • Travel insurance: normally these cover limited expenses as a result of theft, accident, or any other contingency which might take place during a trip, including delays or cancellations for flights or train rides.
  • Theft or fraudulent use insurance: this covers the use of money which was stolen or the result of card duplication.

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Loans in a Bank or at a Lending Company

If you are facing having to borrow money, you may want to go to the bank first to get a loan offer. Many people believe that the bank is always the cheapest place to borrow money, but this is not always the case.

The banks in Denmark can not always match the many other lending companies that have shot up in Denmark. The banks always require security for the loan, and after the financial crisis has taken place, they are more or less going with straps and harnesses when it comes to bank loans for cars, bicycles, motorcycles or other household items.

If you have recently looked at a new car and are in need of a loan, you should, instead of setting up a loan at the bank, examine the possibilities of an alternative loan offer from a loan company. The loan companies are serious companies, which can easily compete with the banks’ offers and save you a lot of money.

 

Advantages of bank loans

Advantages of bank loans

There are quite a few advantages to borrowing money in your bank, but it is usually only practical reasons, such as having all your loans collected in one place, and you know your bank adviser, etc. But why not go for the loan As cheap as possible?

 

Disadvantages of loans in a bank

Disadvantages of loans in a bank

There are also disadvantages of borrowing money in the bank, some of which may be that they usually require security for the loan and they are very critical of your financial situation. Many people today find it difficult to borrow money in the bank for cars, bicycles, etc. as their home equity in the home has shrunk in recent years, or completely disappeared.

Many loan companies do not claim security, they call it loans without collateral, and it gives the benefits that you can borrow money for just about anything at a competitive rate, including car, motorcycle and bicycle loans.

 

We help you with an interest rate that is better than with your bank

We help you with an interest rate that is better than with your bank

The interest base has developed a system where you get to the country’s best loan companies with only one application form, we ensure you get the best loan offer, and thus can find the best interest rate, which hopefully can compete with loan offers from your bank.

Use the link from the right-hand side and fill out your loan information, and we will do the rest!

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Confused About Personal Credit Options?

Decided to take out a loan and you are confused about which option is best for you? First, know that offering collateral to the financial institution, such as a vehicle, is a way to lower the interest rate. But remember that if you delay the payment of the installments, you may lose this good.

 

The interest rate also represents the level of risk that the financial institution sees in you. A public servant, for example, has a much lower risk of becoming unemployed and losing income than a privately-employed employee. Therefore, the interest rate is lower for those who work for the government.

Know the types of personal loans and see the pros and cons of each.

Personal loan

Personal loan

The “common” personal loan is like buying money from a financial institution. The price to access these resources is the interest rate that will be added to the monthly installments. In this option, you do not need to give any good in guarantee and the payment is done via ticket or automatic debit. Only individuals can apply for a personal loan. Generally, there are options already pre-approved in your bank, but it is essential to research before closing the contract.

Payroll loan

Payroll loan

The payroll loan carries the installments already deducted from the worker’s payroll. The risk is low for the financial institution, which helps to lower the interest rate. Retirees, INSS pensioners, public servants and private sector workers can apply for a loan, but some details need to be checked.

1 – The interest rate is lower for retirees, pensioners and public servants because the risk of wages being paid is very low.

2 – For workers in the private sector, it is necessary to research if your company has an agreement with some financial institution. It is more common for large companies to offer payroll than small and medium-sized companies.

3 – The granting of payroll loans depends on how much your income is committed, which is known by the term assignable margin. The limit is 35%, that is, the maximum that a portion can represent of your remuneration.

Loan for anticipation of 13th salary or Income Tax

Loan for anticipation of 13th salary or Income Tax

 

The anticipation of 13th salary and the restitution of the Income Tax are good options for those seeking an emergency loan. That means they are values ​​you already know you will receive, but you agree to pay a price (that is the interest rate) to anticipate them. This is done through your bank. When you receive the 13th salary or the refund of the Income Tax, the money is automatically deducted to pay off the debt.

The anticipation of this money brings a built-in cost to the consumer in the form of interest rate. Therefore, it is worth comparing with other rates and loan lines to know if the deal will be advantageous for you.

Credit with property or vehicle guarantee

 

Credit with property or vehicle guarantee

Do you have a property or vehicle? You can leave them as collateral and ask for a loan. The interest rate in this case may be lower than the average because if you fail to pay, the financial institution can take your asset as a counterpart to the debt repayment. Therefore, the risk to those who delay is greater because it involves the loss of a good. This possibility must be taken into account prior to the option for a secured loan.

DISCOVER YOUR RATE

The hiring process is very simple: in 5 minutes you hire the loan that best fits your financial profile. But do not forget: It is important that your loan does not commit more than 20% of your monthly income!

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Loans with guarantor up to € 5,000

Back to the origins

Historically, in the beginning, banks worked with people and trust between them. If you wanted a loan, the local bank’s requirement was to have a trusted person to guarantee it. Then things changed, and it was the automated processes through computers that took over your credit, limiting the number of concessions because the credit rating or solvency was not adequate. We know how a person who is denied a loan feels and that is why we have created MoneyMas, a loan company that modernizes the granting of loans, returning to the origin.

Decisions made by real people

loan access,cash

We do not allow computers to decide if our customers can access a loan. The most important thing for us is that you have the necessary capacity to be able to repay the loan and have a friend or relative who trusts you in order to guarantee the repayment of the loan in case you do not do it. Before granting any loan, we will have a telephone conversation with you and your guarantor. Our decisions are based on common sense.

No additional costs

additional  loan costs,money

When hard times come, the last thing you need is for someone to take advantage of your money. We can only charge expenses for late payments.

What happens when things go wrong?

We collect the maturities in the same way that any lender would. If a payment is not made when due, we will send you an SMS to remind you. If we still do not charge you, we will call you and send you an email to find out if something is wrong. Our priority is to solve the unpaid due date so that it does not become a bigger problem. Obviously, as our loans are guaranteed by a guarantor, if a borrower does not pay it will be the guarantor who will have to do it. In very unusual cases, when we do not charge either the borrower or the guarantor, we will pass the case to our recovery department.

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What loans does offer? All the details to take into account

If you are a La Caixa customer you can benefit from the loans for individuals offered by the entity.

So we recommend you take a look at the selection of personal loans available, and what you choose the most appropriate depending on which are your Jules Maigret.

What loans does offer?

From La Caixa we offer all types of “Family Illusions” loans to adapt to our Jules Maigret, and in the loans section you can see the different categories:

  • For your family
  • For your vehicle
  • For your plans
  • For your home
  • To buy housing

Depending on your need, you can click on the type of loan that interests you most directly on your website to learn more information.

Family Loan

Family Loan

If you need a loan to enjoy your trips and family projects now you will have the opportunity to request it. You can also take advantage of this loan Family if you need to buy new furniture to redecorate your home or even to make a reform.

These are some of the conditions of the loan:

  • Loan: Up to € 60,000
  • Repayment period: Up to 6 years to return it

In Jules MaigretJules Maigret.es we recommend you to use the calculator provided by La Caixa to know what your monthly payment will be according to the loan you are going to request.

Auto loan

Auto loan

If you need credit to finance a new car or motorcycle at La Caixa you will have at your disposal the Auto loan, which offers you more flexibility.

Among the advantages to be highlighted:

  • Lower initial fees. This is a possibility that you will have, because they will allow you to leave up to 30% of the amount to pay at the end of the loan.
  • Repayment period: Up to 8 years to return it.

Loans for your plans

Loans for your plans

Within this category you will find:

  • Express loan: From € 500 with a repayment term of 3, 6, 10 or 12 months
  • Express Loan Studies: With the same conditions as the express one but directed to university studies, master’s degree, courses abroad and expenses of return to school
  •  
  • Erasmus + Master Loan: up to € 12,000 for 1-year studies and € 18,000 for more than 1 year. To take a master’s degree in a European university. With amortization to 5 or 6 years, and with an annual interest rate of 5.15% during the entire loan. Without endorsement
  • Credit Study Course to Course: Financing for studies, including enrollment and associated expenses. Credit of up to 6 years and amortizing the capital during the course.

Mortgage loans

Mortgage loans

In La Caixa you will find two options to buy a home.

  • Fixed Star Mortgage 20: Fixed interest rate (3.30% without bonus products, 2.10% with maximum bonus) and maximum repayment term of 20 years.
  • Fixed Star Mortgage 30: Fixed interest rate (4.15% without bonus products and 2.95% with maximum bonus) and amortization period between 20 and 30 years.

In both mortgage loans the interest rate can be improved by contracting linked products, and with a maximum bonus of 1.20%.

 

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