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Borrow money? The changes in 2021

New years, new opportunities! In any case, it should be. However, if you want to take out a loan, this is different. This year is a new year, but there are fewer opportunities. As of January 1, 2021, the standards for borrowing money have been considerably stricter. Borrowing money in 2021 has thus become much more difficult.
What happened? If you want to take out a loan, a bank will assess whether you can also repay the financing.
The bank looks at your income and expenses. They take into account what you earn each month and how much you spend on your housing costs. They look at your rent or mortgage costs. The sum that is made is recorded in a 'standard calculation', this is the VFN standard. The standard is therefore the same for everyone.

Largest change in the loan standard in years

At the end of last year, it was decided to substantially adjust the loan standard. The VFN standard has been strengthened considerably. You can see what the differences are in the table below. As a rule of thumb, you can maintain that you can borrow the difference * 50 less. This is not true in every situation. Assessing a loan remains custom work, this is only intended to provide insight.

Family situation Storage 2020 Storage 2021
Single $ 40 $ 275
Single + children $ 226 $ 451
Married / living together $ 119 $ 326
Married / living together + children $ 224 $ 408

Calculation example

To give a calculation example. If you can now borrow $ 25,000 as a single person, you will be able to borrow about 235 (difference between the 2020 and 2021 standard) * 50 less in 2021. A difference of a whopping $ 11,750. The maximum amount that you can still borrow is then $ 13,250.

Further strengthening in April 2021

The above indicates that taking out a loan will become more difficult in 2021. In 2021 this will be done even more. Borrowing standards will be made even more stringent. The VFN is currently working on the exact changes. As soon as these are known, we will of course immediately report this again. We can already lift a tip of the veil. In any case, the new standards will take more account of car ownership.

Easing of mortgages

In contrast to loans, it becomes easier to take out a mortgage. In the case of mortgages, the second income in 2020 was included for a maximum of 70%. In 2021 this percentage will be increased to 80%. In addition, the property transfer tax for home starters up to $ 400,000 will lapse. This makes it easier to refinance a mortgage or increase your mortgage .

Borrow money a little cheaper again

In contrast to mortgage rates , credit rates have fallen over the past month. Admittedly with a small step of 0.1% and only for credit amounts above $ 50,000.00, but it is of course a considerable contradiction with the increase in mortgage interest sometimes up to 0.75%. How does this difference actually come about? And perhaps more importantly, you can also use this lower interest rate and is this interesting for you? Questions that we would like to answer. When it comes to borrowing money as cheaply as possible, you are of course always at the right place at AshLenderchiro. Because 80% of the people still have an expensive loan, we are happy to explain how you can start saving on your loan in a simple way.

Why does the mortgage interest rate rise and the credit interest rate fall?

It is of course strange that you have to pay more interest with one form of borrowing money and less with the other form of borrowing. Yet there is an important difference with these two forms of borrowing money. For example, you can borrow with a mortgage with collateral and with a personal loan without collateral. In addition, there is of course an important difference in the interest rates. The credit interest has now dropped to 3.8% for credits from $ 50,000.00. The interest percentage is lower for mortgages. For personal loans, the interest can still fall slightly because the margin for the banks is larger. Due to the corona crisis, there is a drop in demand for loans. For example, far fewer cars are being sold, resulting in less demand for the car loan .

How can you take advantage of the lower interest rate

Perhaps even more important than the question of why there is a difference between the mortgage interest and the credit interest is the question of how you can apply for an advantageous credit. Fortunately, that is quite easy. You can apply for your loan via our application form. We will then immediately check for you what the options are.

Your loan and the corona virus

Information about schemes related to the corona crisis

A lot has changed around us. The Coronavirus has a major impact on many things. It affects a lot of people, on a personal level, some even on a medical level and of course also on a financial level. The latter has also come to the attention of the banks.
Do you have a loan and are you in danger of getting into trouble due to the consequences of the corona virus? With our help you can request a payment break or a deferred payment. This payment break or deferred payment has a duration of 3 months.

which banks participate in this scheme

Most banks with which Credit Group Massachusetts works have indicated that they understand that there are now various challenges. Of course, the banks do not want to make the problems worse, but above all ensure that you can stay financially fit during this period.
The status at the moment is as follows:
Shineloan: Shineloan has indicated that a payment break can be used in certain cases. You can request this payment break here . In addition, Shineloan has also created an information page where you can find more information about the condition of the payment break here.
National ShareB: National ShareB has also set up a separate information page .
Onebank: Onebank now also has an information page about your loan and the option to postpone your payments. The page can be found here .
Lender: Lender has indicated that they want to determine per person what the situation is and what the options are for a payment break. You can contact Lender Customer Service .
BNP: BNP Has indicated that on March 27 will be indicated what the possibilities are.

Do you have any questions?

A lot is coming our way, and the crisis does not seem to be over for the time being. Many questions are still being asked about various matters. If you have a question, you can always contact us. You can send an email to info@kredietgroepnederland.nl or contact us by telephone at 580-485-9224

More options for a car loan

The car loan is a popular way of borrowing money . In recent years, more and more car loans have been taken out. These are both private lease agreements and financial lease agreements. The difference between these agreements is that with a private lease agreement you only have to pay for the refueling yourself, the rest is all in your monthly installment. This seems very nice, but there is often a catch here. With a private lease you are usually only allowed to drive a limited number of kilometers with your car. Even if you want to return the car a little earlier, a hefty fine is often charged.
At AshLenderchiro, we therefore provide virtually no private lease contracts. In our opinion, the disadvantages of this are often too great.

More options for Financial Lease

At AshLenderchiro we recently have more options for car loans. The reason for this? Recently we have several providers for car loans. These are providers who specialize in car loans. This means there are more options for us to accommodate your loan. More options for a car loan is pleasant for all parties. For you, this provides more options, a lower interest rate and better conditions. More options means more competition. And that in turn ensures lower rates and, of course, better conditions.
Credit competitor has the most providers for car financing. Nice to know!

Car loan paid off? Then what happens to the car?

If you have repaid the car loan, the car is immediately your property with a financial lease. Still a very nice idea. You do not need to take any further action yourself. When the loan is repaid, you will become the legal owner of the car in addition to being the economic owner. This means that from this moment on you can also sell the car yourself, without having to repay the loan, which you have already done by now when you have repaid the loan in full.

Borrow small amounts

Borrowing small amounts has also become cheaper since a month. Where banks initially concentrated on loans from $ 15,000, they now also seem to find smaller amounts interesting. The interest that we can offer you has decreased by no less than 1.5% for loans between $ 5000 and $ 7500. A very significant decrease. Which of course you can immediately take advantage of. Not only by taking out a loan now, but also by transferring your current, too expensive loan. Certainly if you have taken out your loan through Wehkamp, ​​for example, or if you have an overdraft on your checking account or a credit card. Then there is a good chance that you can now make significant savings. Despite the relatively small loan amount, you can already save several hundred dollars.

What is borrowing a small amount?

A small amount is of course relative, we understand that of course. Therefore, some more information about what amounts we are talking about. If you assume that the average loan amount is $ 24,000 at Credit Competitor, then you will at least have a slightly better picture.
By a small amount we mean the loans up to $ 15,000. Of course we also realize that $ 15,000 is also a lot of money. But it is relatively little for financing. The largest drop in interest is incidentally in amounts up to $ 7,500. For example, borrowing $ 6000 has suddenly become no less than 1.5% cheaper in the past month due to the sharp fall in interest rates. Compared to mortgages, interest is of course still high, but a mortgage has collateral, and of course has substantial additional costs . This is different for a credit. You can take out a loan without additional costs if you do not purchase other products. If you only take out the loan through our mediation, this will cost nothing. If you also take out insurance, we will charge you one-off costs. Of course we are completely transparent about this. We are happy to discuss this with you when discussing a quotation.

Car loan for the self-employed

Car loan for the self-employed

Borrowing money for the self-employed, if you are self-employed you may know how difficult that can be. Stock financing, financing of new tools, it is all quite difficult. How different is this with a car loan for the self-employed.
The car loan is easy to take out. Where you have to supply stacks of figures with any other form of borrowing money, we can guarantee that a car loan can be arranged quickly and easily. Annual figures? Not necessary in most cases.

Why so simple?

It is actually impossible to imagine that the banks are suddenly so flexible when it comes to financing. Fortunately, the message is really correct. The difference between a car loan for the self-employed and an 'normal' loan is in the fact that there is clear collateral for this form of borrowing money. And because you always take out the loan with a personal loan, which also reduces the outstanding balance. There is certainty that the value of the car and the amount of the loan will remain in reasonable proportion to each other during the term of the loan.

Who owns the car

With a car loan for the self-employed, you can opt for a financial lease or an operational lease. You are the beneficial owner of a financial lease and the operational lease. The most frequently chosen form is the financial lease. You then take out financing for the car, arrange the insurance yourself and also pay the road tax and any maintenance yourself. If you have repaid the loan in full, you are also the legal owner of the car.

Loan for the self-employed without hassle

If you take out a loan for a car, you will find that borrowing real money is hassle-free. Providing your bank statement and a valid driver's license may be enough to fund your car or company bus. We can't make it easier for you!
Do you want to know what we can do for you? Contact us immediately and we will let you know right away.

Interest reduction makes your loan cheaper

Interest reduction makes your loan cheaper

Borrowing money can become slightly cheaper from next week. The interest is then slightly lowered so that you can borrow money more cheaply. An interest rate cut makes your loan cheaper if you want to take out another loan. But even if you still have a loan, it can give you extra benefit if you switch your too expensive loan to a cheap loan with a low interest rate from 3.9%. This only applies to the personal loan . With a personal loan you can borrow money from an interest rate of 3.9%. This interest also applies from loan amounts of $ 20,000.00. This is different from other providers where you can only get the lowest interest from an amount of $ 25,000.00.

Benefit directly from the lower interest rate

An interest rate cut makes your loan cheaper. So take advantage of this lower interest rate. You can request your loan from AshLenderchiro free of charge and without obligation. Credit competitor works together with various credit providers. We always do our best to let you benefit from the lowest interest rate. This does not only apply if you wish to apply for a loan, even if you already have a loan, we will be happy to check for you what you can save by transferring your loan to a loan with a much lower interest rate.

Interest is on the move

Times have passed when interest rates have stood still. That is no longer the case. The companies have been changing interest rates almost monthly in recent months. Exceptional, but it happens. It is important for Credit Competitor to keep following this closely. If you take out a loan of 4.5% this month, and it turns out that the banks lower the interest the following month, so that you can also transfer your loan to 3.9%. Then we will contact you as soon as possible to check whether you can also qualify for this interest rate reduction.
If you take out your loan with AshLenderchiro, we will continue to monitor your loan so that you have an affordable and responsible loan!

Borrow money? Until what age?

Earlier we wrote an article about borrowing money for the elderly . We find this a bit irreverent. But the desire to provide clarity has of course won. Borrow money up to what age? Still a good question. Especially because we are getting older.
A lot has changed in recent months when it comes to providing loans to people over 70. Of course we have known for years that the average age is increasing. Still, the maximum loan age has been reduced further and further.
Until a few months ago. Below we will immediately answer your question, borrow money up to what age?

Until what age can you borrow money

Borrow money up to what age There are 2 different guidelines for this.
If you are single, the answer to the question is to borrow money until what age? 72 years. More precisely, you can take out a loan up to your 72nd year of life. You must then have repaid this loan in full before your 74th year of life. This actually automatically means that you can no longer borrow large amounts. The monthly term of your new loan must of course remain portable.
If you are living together or married, there are more options. You can then borrow money up to and including the age of 73 (this is the highest age of both of you). In that case, the loan must be repaid before the oldest of you both reaches the age of 78. BNP offers these loans, and you can of course apply for your loan via Credit Competitor.

Are there any alternatives?

Of course there are alternatives, there will always be. However, not with the commercial banks as far as we know.
The alternative circuit will therefore mean more that you could place the question of whether you can borrow money with friends, family or your children.
There may still be opportunities to obtain financing. Even smaller amounts such as 1000 dollars are unfortunately no longer provided via the providers with which Credit Competitor cooperates.

Total costs calculate personal loan

Personal loan: calculate total costs

Taking out a personal loan is becoming increasingly popular. There are different amounts for which you can take out a personal loan, depending on your wishes, your purchase and your options. When you are exploring the options for a personal loan, do not forget to look at the amount that you will soon have to pay in total for the personal loan. The costs consist not only of the amount that you borrow, but also of interest. Therefore, calculate the total costs of your loan before taking out the personal loan.

Calculate total costs

In order to calculate the total cost of the personal loan, you need to know the amount to be borrowed, the term of the loan and the interest rate. Because the term and the interest rate are fixed for a personal loan, you can already calculate now what you will have paid in total costs for the personal loan at the end of the term. Only when you know the total costs per personal loan can you make the right choice for the loan that suits you best. Keep in mind that if you pay off more in the meantime than the standard monthly amount, the total costs of the personal loan will be lower. But that is only a bonus!

Nibud results

Nibud is an independent foundation and information institute that informs and advises on household finances, such as pocket money, pension, debts and benefits. Preventing money problems is always the goal. Recently, an investigation was published by Nibud about the personal loan. For 2 years, 850 consumers who had taken out a personal loan through an intermediary participated in the survey. The research also showed results about the total amount of a personal loan.

First of all, it was examined for what amount people took out a personal loan. For 56% of the respondents, the amount fell between $ 5,000 and $ 25,000. Only 3% of the respondents took out a personal loan for less than $ 5,000 and 10% took out a substantial personal loan of more than $ 50,000. Most personal loans were taken out for the purchase of a car, a renovation or to take out an existing loan. It was striking that about 6% of the respondents had no idea of ​​the amount borrowed and 38% of the respondents had no idea what the total amount to be paid, including interest. Nibud therefore advises to pay more attention to the total amount when choosing a loan, because that is the amount that you ultimately have to pay.

Credit competitor
At Credit Competitor you can compare different credit providers of personal loans with each other free of charge and without obligation, calculate the total costs and, if desired, immediately request a quote for the offer that most appeals to you. You already knew that borrowing money costs money, but thanks to Credit Competitor you also know how much it costs you. No unpleasant surprises afterwards!

Repay personal loan

Repay personal loan

Research by Nibud shows that only 5% of consumers who take out a personal loan are disappointing in repaying the loan. Fortunately, that is not so bad! We would like to tell you more about it below.

Take out a personal loan

Taking out a personal loan is becoming increasingly popular. For example to finance a renovation, a holiday home or another major purchase. The personal loan is so popular because the term and interest are fixed, which offers you a lot of security. You also pay in fixed monthly installments. The term of the personal loan is often tailored to the expected life of the product or service you purchase. Then you are not even paying if the product is no longer in your possession!

You always take out a personal loan for a minimum of 12 and a maximum of 180 months. Some lenders have a maximum term of 120 months, but sometimes the term can also be longer than 180 months. When taking out the personal loan, it is therefore already established what you must pay monthly and how many months you must pay. Do you want to repay your personal loan early? Then some lenders charge penalty interest for this.

Nibud results

Nibud is an independent foundation and information institute that informs and advises on household finances, such as pocket money, pension, debts and benefits. Preventing money problems is always the goal. Recently, an investigation was published by Nibud about the personal loan. For 2 years, 850 consumers who had taken out a personal loan through an intermediary participated in the survey. The research also showed results regarding the repayment of a personal loan.

The survey shows that only 5% of consumers think that paying back a personal loan is disappointing. Further inquiries show that these people have given less thought to the consequences of taking out a (personal) loan than consumers who think the repayment is better than expected. For example, 4% did not check in advance whether they could pay the repayment. More than 78% did not know in advance how much they wanted to borrow, so they now also find the repayment disappointing. This doubt about the correct term means that they might now make different choices. However, if they could choose a loan again, 78% of the total 850 respondents would make the same choice. Only 14% would make a minor adjustment.

It is difficult for consumers to imagine how they will feel in a number of years to still pay monthly for a purchase that has already been spent a long time. The effect of the

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