Interest and condition comparisons create security
In some areas, such as construction loans, interest rates have risen in recent months. Comparisons can save a few thousand euros for larger sums. Even on a small scale, a loan comparison pays off if you check it independently, compare it and, for example, yours Mini loan with LoanScouter seeks. Because in order for the comparison of numerous credit options to be worthwhile, the platform should not be linked to specific credit institutions. Even if transparency is mandatory today, each individual potential applicant should still become active themselves and find out in advance where it is best to compare the loan. It is important at this point that you not only see the debit interest at first glance, but also the effective interest rate and other conditions. Only comprehensive comparisons really make sense and create more security, which is more important than ever for loans, no matter what the amount. Flexible repayment options without additional costs should currently be an integral part of the preferred loan offer.
Many banks are currently evaluating the credit rating more strictly
In addition to all price increases in everyday life, the construction costs have also risen significantly. This in turn means that you need a larger construction, refurbishment or renovation loan. Income has not increased, which has a significant impact on the credit rating. Due to the reduction in the money freely available to the household, there is a risk that you will get your loan on less favorable terms than two years ago. Applicants must also expect longer terms, as lenders insist on lower monthly payments and thus want to avoid the risk of non-payment. There is currently an increasing demand for risk hedging. However, the borrower does not need to agree here, as there is no obligation to take out additional insurance. However, a rejection of the security can result in the application being rejected by the bank.
Due to the tense financial situation, comparisons should be made even more meticulously. Before applying for a loan, it is advisable to assess your own financial situation realistically and to take unforeseeable situations into account. If the heating costs, the energy and fuel prices as well as the food costs continue to rise so rapidly, a loan installment that is currently suitable could no longer be repaid in a year. This is where the flexible contract with free special repayments and installment breaks comes into focus.
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