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Co borrower in solidarity with a real estate loan

 

Definition

We talk about a co-borrower in a home loan when two or more people take out the loan together. The level of commitment of each depends on the chosen portion and must be specified in the loan offer.

Notions of co borrower and co purchaser

Notions of co borrower and co purchaser

 

Borrowing in common gives no ownership of the real estate financed. To exercise this right as a co-purchaser, it is necessary to appear on the deed of sale. This situation does not apply to married couples who, especially when they are under the community of property regime, become joint owners of all the property they acquire during the marriage.

On the other hand, if you buy in concubinage, it is necessary that your name appears in the whole of the documents of purchase, both in the preliminary contract – the compromise of sale for example – and in the authentic act.

Borrowers are in solidarity with each other

Borrowers are in solidarity with each other

 

Being a co-borrower of a mortgage is a decision that can be significant because each person in the loan agreement is solidary up to the amount borrowed.

Thus, if the couple stops paying the monthly payments, the bank may require one or the other to honor the deadlines. Each is therefore exposed to prosecution for non-compliance.

As well as couples married under the community regime, the people who are paid are jointly and severally liable for all the debts subscribed by one or the other, unlike cohabitants, even without having the status of co-owners. borrower in the prior offer.

Our advice : if you do not want to be in solidarity with any unpaid debts of your friend, the solution is to take out a loan each separately for the amount corresponding to the desired quota.

Risk analysis

Risk analysis

 

The purchase of a property by several borrowers does not change the nature of the risk analysis by the bank. The latter will be brought to verify the statements of account of each and will have to calculate the global indebtedness of the couple.

How to stop the engagement?

How to stop the engagement?

 

To stop the commitment you must obtain the agreement of your bank. This request is especially formulated when the cut separates. Two solutions are available to you:

  1. The first possibility is to resell the property and settle the debt.
  2. The second to make a redemption of balance, that is to say to buy back the spouse’s share.

co-borrower insurance

co-borrower insurance

 

When a couple takes out a mortgage, each of them must be able to prove a credit insurance cover. The minimum coverage must be 100% of the capital borrowed, the co-borrowers freely choosing their shareholding provided they respect the contribution of each in terms of professional income.

Thus, if one of the members of the couple contributes two thirds of the total income, it will be wise to choose a proportion of 70% for one and 30% for the other. However, nothing prevents you to better insure yourself and opt for a higher percentage.

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Fraudulent Loans – What to Watch Out for When Borrowing?

Fraudulent loans – what to watch out for when borrowing

Fraudulent loans - what to watch out for when borrowing

Every day we receive a vast amount of information about various speculations, frauds or frauds that happen regularly between us to acquire any material goods. Where else can a more suitable search environment be prepared by a “tunnel” than in a financial sector where there is always the highest likelihood of masking illegal activity for one simple reason, which is the constant circulation of money. It is financial services that are the breeding ground for fraudsters with a single goal.

Profit at any cost is a truly widespread credo, and many are constantly following it. Some amateur “traders” even took him so seriously that they prepare their customers, partners, or buyers for money, and recklessly plunder their earnings. To realize their exaggerated ambitions, they began to abuse the trust of people who got into trouble and, as they have no previous negative experience, often make decisions under duress, which creates wrongful choices for financiers.

Unfortunately, many fraudsters, whose speculative “business” consists of abusing the expressed trust of customers and the subsequent robbing of money, have also become part of the Slovak financial products market. Their job is not serious lending to people in need or lending to various business projects as they often publish in their advertising. With targeted advertising and manipulative techniques, they can attract people and take advantage of their financial difficulties to their advantage, without ever calling customers.

Do you know fraudsters’ practices?

Do you know fraudsters

It is widely known that fraudsters still come up with some new methods, so that they can always be a step forward and smoothly manipulate their new potential customers. Many of them spend a lot of time tracking the internet and the latest trends, drawing on a wealth of knowledge about attracting applicants, and then using special methods to deceive the applicant.

  • Sales Psychology – Those eager to earn fraudulently know well the different psychological theories of how to gain people’s affection and trust and can successfully implement them in practice. Emotional slogans, color logos and perfectly trained communication make these people successful in their field, and customers find it difficult to defend themselves.
  • Nonsensical Fees – Responsible companies require different fees associated with borrowing after signing a contract and then providing finance, so don’t pay anything in advance. It may easily happen that you will not receive the amount requested and you will lose your money.

How to avoid scammers

How to avoid scammers

1. Get the latest information – Overview and knowledge of the credit environment is a great help in choosing the right product. On any advertising portals, we sometimes encounter some advice about false providers who are publicly listed to alert other applicants. However, it is a huge problem that many deceived customers will not publish at least known contact details or ad transcripts to try to help the unfamiliar bidders.

Of course, the clever crooks can devise a fast-paced strategy to transform the whole way of “making money” into a new one and to fool other people, but such an extensive warning can give customers enough vigilance to ignore these bad contacts.

2. Use Reliable Services – The largest number of fraudsters is still concentrated among private providers who do not cooperate with any financial company at all. However, they can often act as a part of non -bankers and embark on working sales representatives, or they can have a real-looking corporate license and know the whole corporate philosophy, which is quite convincing for every customer. It is quite easy to avoid such an error, it is necessary to communicate directly with the company.

If you are one of the most trustworthy people, you can at least check your headquarters merchant. It cannot happen that the top management of any company does not know about its workers, no matter how big it is. Applying for a loan on a company site or phone is the best solution, so we recommend.

3. Review Business Data – Business Databases, Business and Trade Registers or Non-Banking Providers Lists are all summary lists that allow you to see a properly registered company owning a licensed license. These registers include all serious companies that are authorized to operate and officially operate on the Slovak market on the basis of compliance with general regulations. Such registers must contain all basic business data on specific companies that have a real value for consumers.

It is not just that the consumer is sufficiently informed, but that it is of paramount importance to claim his / her consumer and civil rights in the event of any unfair treatment during a business relationship. To check this data, you can use the Internet completely, where the information is regularly updated and made available to everyone without restriction.

4. Review the Loan Act – Law No 129 of 2010, which sets out precise regulations and guidelines on lending, contains all the necessary information about what a creditor can or cannot afford to his debtor. If you have any doubts about a point in the prepared contract, do not like any of the provider’s business practices or anything else on your request, do not hesitate to refer back to the wording of this law, which clearly defines all the rules of mutual credit relations. If you encounter fraudulent behavior, but you do not have it confirmed, a great knowledge of the law can scare the false provider and eventually give up the possibility of concluding a contract because of the fear that you have knowledge and can overlook it. Even if the law is quite extensive, knowing it at least in short will certainly be beneficial.

Looking for some complicated answers to the question of what kind of motivation these people are leading to such a fraudulent act does not need long. First, it will be an exaggerated greed and an indomitable greed that is likely to be at the top of the value ladder, and the effort to work on itself, to increase its achievements, and to excel in some honest activity will obviously be among the most unpopular attributes of the providers concerned.

In any case, it should be noted that there is a sufficient number of revealed fraudsters who eventually had to return undue funds to the original owners. In addition, fraudulent behavior investigation mechanisms are constantly on the move and, thanks to the extensive information provided, it is possible to alert borrowers to the unfair methods of various false creditors.

Our recommendation for you in the future will be to choose a lender only for trusted financial companies that offer the highest possible levels, customer references are mostly positive, and you can get money in a natural way. Companies with a legitimate license, whose services are covered by a well-known brand, can not afford any fuss to customers in order to maintain their name for several years, and they also care about continuing their business smoothly.

If you really need to get money through credit and cooperation with a reputable company is one of the main conditions, we will be happy to assist you with our immediate loan within 24 hours, with which you can draw borrowed funds a few hours after the application is approved. You will get special supplementary services for money and you will also be part of an interesting loyalty program that guarantees you improved access.

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Low-income Instant Loan

In the search for a suitable loan offer is a high regular income and a positive private credit information immensely beneficial. Only those who have a regular income and can present a positive private credit information, may calculate in Germany hopes for a loan.

Especially in recent years, the variety of offerings on the market for the borrower has increased significantly, this must no longer inevitably fall back on a loan offer of the few banks on the Internet, because more and more online and direct banks offer the borrower the opportunity to get a loan immediately To record Internet.

An instant loan product from the Internet differs from the classic installment loan “at the bank around the corner” by a quick and easy application, which can be handled via the Internet. Electronic data transmission not only saves the borrower time, but also benefits from better terms and conditions, which is mainly due to the lower personnel costs.

Due to the high offer for the borrower to also find an instant loan with a low income, a comparison on the Internet is indispensable. A direct comparison of the instant loan providers different banks and many more. is now possible only through a targeted loan comparison on the Internet. The comparison on the Internet is free, fast and easy. For this reason, a low-income instant loan should never be taken without prior comparison.

Take out a low-income instant loan – Borrowers must meet these requirements

Take out a low-income instant loan - Borrowers must meet these requirements

If you want to take out an instant loan with low income, you should have an immaculate private credit if possible. A positive private credit information is extremely important for a low-income borrower, as it can give a decisive expression to his credit rating in this way. With the private credit information, the bank can gain an insight into the solvency and payment behavior of the borrower.

Due to the low income, the borrower should be careful when designing the loan. Anyone who decides to work for a short period of time and only has a small income at risk risking a loan default, since repayments here are particularly high.

A low repayment is always beneficial for the borrower, as the credit default risk is significantly lower due to the lower rates. However, having a long maturity is also associated with higher borrowing costs. The high credit costs can be justified by the fact that the remaining debt is reduced more slowly, from which the interest costs are calculated in the case of a repayment of installments.

When comparing for a low-income instant loan, a loan comparison on the internet is extremely beneficial. Financial portals on the Internet offer the borrower the opportunity of quick and free comparison under consideration of maturity, loan amount, income and more. In this way, the borrower is able, with little effort to highlight the best loan offer and save a lot of money.