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Take out a loan in Switzerland

Loans can be taken out not only in Germany, but also in neighboring countries such as Switzerland and Liechtenstein. Banks from both countries mentioned offer Swiss loans without Credit Bureau as a unique selling point. Furthermore, loans with the Swiss franc as a currency are popular for construction finance.

Loans without Credit Bureau

Loans without Credit Bureau

If a citizen takes out a loan in Switzerland, it is usually a loan without Credit Bureau.Since the financial institution based in Switzerland is not a contractual partner of Credit Bureau in Germany, it can neither make an inquiry nor report the borrowing to the credit protection agency. In Switzerland, the ZEK is similar to the Credit Bureau, but it does not have credit data from Germany.

A prerequisite for lending without Credit Bureau is usually a permanent position, since only a few Swiss banks also grant their loans to freelancers and the self-employed. Furthermore, customers have to prove a higher minimum income than required by German banks if they want to take out a loan in Switzerland without Credit Bureau. Sufa-free Swiss loans are processed via a German bank account of the selected bank and in the currency of the USD.

A Credit Bureau-free loan in Switzerland is not only taken up by people with negative Credit Bureau entries, but also by people with existing loan liabilities. Although these are not considered negative entries, they are nevertheless recorded by Credit Bureau and transmitted to the requesting banks. Borrowers accept that Swiss Credit Bureau-free loans have slightly higher loan interest rates than loans taken out at German banks. So that they don’t pay overdue interest, borrowers compare several offers for loans from Switzerland.

Building loans from Switzerland

Building loans from Switzerland

While loans without Credit Bureau are paid out in USD, borrowing takes place via Swiss banks for real estate financing in Swiss francs. The corresponding loans are often even cheaper than mortgage lending in Germany. In addition, there is the expectation that future changes in the exchange rate will generate further benefits.

The Swiss franc is not firmly linked to the USD, but there is a minimum exchange rate to be secured by the Swiss National Bank through currency sales. When builders or property buyers take out their loan in Switzerland, the payment, like the subsequent repayment of the loan, is usually made via a Swiss bank account, in contrast to Credit Bureau-free loans, which results in costs.

These additional payment costs must be taken into account when comparing credit between the offers of banks from Germany and Switzerland. In addition, the collateralization of the Swiss real estate loan referred to as a mortgage loan differs in some points from the usual procedure in Germany, but this does not result in any disadvantages for the German construction borrower.

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Credit with employment contract

It is not always easy to take out a loan. Before making a decision on the application, the bank first checks the creditworthiness of the potential borrower. The employment contract plays an important role here: the financial institution sees this as sufficient evidence that the borrower can repay the liability. However, this only applies if the contract is for an unlimited period.

Low earners and temporary workers have a hard time

Low earners and temporary workers have a hard time

If the requirements are met, the loan with an employment contract is usually approved without any problems. The situation is different if the applicant can only show a temporary employment contract or is a temporary worker. For the bank, this means that the solvency initially determined may suddenly no longer exist and the repayment is at risk. Not all credit institutions want to take this risk. For this reason, temporary workers and workers with a fixed-term contract are often rejected.

Even low-income earners have a hard time. However, there are still ways to get funding. For example, the loan with an employment contract is often also granted to employees with a limited employment relationship if the period in question is before the employment relationship expires.

Creditworthiness also plays a role

Creditworthiness also plays a role

However, it is not just the type of employment that plays a role in the loan with an employment contract. Proof of salary and copies of the contract are not sufficient to approve the application if negative entries can be found in the Credit Bureau information. Since these are only deleted three years after they have been resolved, past misconduct can also become a topic. However, poor creditworthiness does not lead to a categorical rejection. Many banks are willing to cooperate.

Anyone who can provide a guarantor or find a person who is willing to sign the contract together may still be able to conclude the loan with an employment contract. The decision of the financial institution is largely based on the individual financial situation of the respective third party. Alternatively, other collateral can also be provided. It is important not only to consider life insurance, but also assets owned by the borrower, such as savings, shares or real estate.

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Take out loan for horse

 

If you keep horses, breed them or run a stud, you can report a lot about unforeseen expenses in enormous amounts. Especially in the event of a necessary operation, a serious illness or an accident that caused the horse, it is necessary to be able to take out a loan for the horse and thus to ensure that the problem is dealt with quickly.

High medical costs, the journey to a renowned clinic, but also the claim of an opponent of an accident can mean that the costs cannot be borne by the horse owner without outside help and paid in one sum. A loan is often the only and most sensible solution in order to avoid debt to a large extent and to predestine itself for collection and fine proceedings.

Pay attention to fair conditions and flexibility

Pay attention to fair conditions and flexibility

When taking out a loan for a horse, it is particularly helpful to find out about the numerous offers for an online loan and to find out in a direct comparison of different offers which loan convinces with favorable interest rates and optimal framework conditions. The credit should always be convincing in all respects and thus lead to satisfaction, with which the applicant does not compromise and chooses financing that will not only pay off quickly, but will also present efficient options.

Independent financial intermediaries and private donors are a particularly good decision and give the opportunity to obtain the desired loan even with a lower credit rating and to pledge a real asset as security, or to name a guarantor. Anyone who wants to take out a loan for horses will find an opportunity for fair interest and an offer with any financial background that does not turn out to be an expensive alternative.

Compare different offers

Compare different offers

Before a loan is chosen and an offer is decided directly, all adequate options for taking up a loan for horses should be compared and compared directly. It is not worth looking exclusively at the interest rate and ignoring the terms of the contract. Flexibility brings advantages and should be part of the contract. If the borrower defaults on a rate or is burdened by additional financial restrictions, a contractually deferred payment can prove to be an enormous advantage.

However, a faster repayment of the installments in the form of a rate increase or payment of the full amount should be possible and accepted by the lender without any subsequent costs. If all contractual points match your own requirements and wishes, the borrower will make the right decision and choose an offer that will not result in any unforeseen disadvantages or excessive costs for the loan.