CategoryFinance

How to apply for your credit?

Consumer credit is the ideal way to achieve many projects, but obtaining it is very framed. The borrower and the lender must respect the various stages leading to the signing of the credit agreement.

Step 1: The choice of credit

Step 1: The choice of credit

The borrower must first define his needs. He may take advice from lending institutions or brokers when seeking credit, the lender must provide him with a standardized form detailing the following information:

  • the details of the lender;
  • the type of credit;
  • the amount and duration of the credit, the APR (Global Annual Effective Rate).

This sheet makes it possible to compare and make better sorting among the different financing solutions proposed. With this information, the borrower can know the cost of consumer credit and make his choice.

Step 2: The loan application file

Step 2: The loan application file

Once the choice is made, the borrower must put together a file for his credit application. This is to provide the lending institution with proof of its solvency by indicating its income, its expenses, its loans already in progress. If the amount of the credit is greater than € 3,000, it must then communicate its tax assessment and pay slips.

Step 3: Studying the loan application file

Step 3: Studying the loan application file

It is then up to the lending institution to determine whether or not it is granting credit. The lender verifies the creditworthiness of the borrower by analyzing the documents in the file and calculating the client’s debt ratio. The lender must also verify that the borrower does not appear in the credit reimbursement incident file with the Banque de France.

Step 4: The loan offer

Step 4: The loan offer

If the loan application file is accepted, the credit institution submits an offer that specifies the terms of the loan:

  • the amount and duration of the loan;
  • the Global Effective Annual Rate (APR);
  • the date of deduction and the amount of monthly payments;
  • the total cost of the loan.

The borrower then has 15 days of reflection to take advantage of the offer. Once the contract has been signed, the customer has this time a 14-day cooling-off period.

What is a loan disbursement?

The debtors of a loan, especially when it comes to a mortgage, commit themselves for long periods in order to be able to repay their loans. But the credit they have been given allows them to instantly finance a project they could never have financed without the participation of the bank or credit agency they had used.

This angel financing is done through a banking operation called loan disbursement. Here’s everything you need to know about loan disbursement, or loan disbursement.

What is meant by loan disbursement?

What is meant by loan disbursement?

In banking jargon and in the area of ​​credit, loan disbursement, also known as credit disbursement, refers to the fact that a credit institution or a bank will take money out of its bank accounts and transfer it to those of its bank. customer.

By this operation, the creditor, after agreeing to lend a sum of money to his debtor or client, makes available to him the agreed sum of money so that he can carry out the projects for which he has taken out the loan.

Loan disbursement explained concretely

Loan disbursement explained concretely

Specifically, Jean and Marie wish to buy a house of 300,000 euros, put on sale by Mr. and Mrs. Denver, but their personal savings is only 100,000 euros. They will then need to resort to a home loan. This can be granted by a bank, up to 200,000 euros missing.

Once the file is established, the bank will study it and give its agreement. The establishment will then release funds, namely 200,000 euros, so that Jean and Marie can buy their home from Mr. and Mrs. Denver. It is thanks to this loan disbursement operation that Mr. and Mrs. Denver will sell their house to Jean and Marie.

The latter then undertake to repay to their bank all 200,000 euros borrowed and released when the loan disbursement. This loan disbursement operation carried out at a time T will give rise to a repayment obligation which will often be spread over a long period of up to 20 or 25 years. The principle is the same for consumer loans, even though the sums are generally less important.

Quick and Online Marriage Credit, Immediate Response

Wedding Credit: the budget of the happiest day of your life

Wedding Credit: the budget of the happiest day of your life

If there is one day when we do not really want to deprive ourselves, it is the day of his marriage! Everyone wants the best for the best day of his life! But from dream to reality, there are costs that should be anticipated to avoid unpleasant surprises. The wedding loan allows you to budget the celebration and have fun on the day.

Marriage, a dream that is priceless!

Marriage, a dream that is priceless!

If many dream of a beautiful and big wedding worthy of the most beautiful stories of love, not everyone is housed in the same sign in terms of budget. A marriage, even simple, is expensive, so it is better to know exactly what you want to organize to better define your budget. Especially since the items of expenditure are numerous:

– The room
– The trainer
– Outfits (dresses and costumes)
– The Rings
– The decoration of the room
– Flowers
– The musical animation (group, orchestra or DJ)
– The photograph

On average the French spend 8 821 euros to finance their marriage, a budget up 5% in 2016.

Marriage credit: the solution for a reasoned financing

Marriage credit: the solution for a reasoned financing

Young couples rarely have such a large amount of money aside, so even though family and friends can help, marriage credit is a very interesting way to finance this unique moment. Thanks to this loan, the future spouses can finance all aspects of the marriage, from the preparations to the meal through the ceremony. Lending institutions offer through consumer credit a way to finance all or part of this big day, such as buying the wedding dress or renting the room. The marriage credit rate is very interesting. Some offers offer an APR of less than 2%!

Before starting the preparations, you need to know your budget. To do this, the loan simulation for a wedding is essential. Thanks to this tool, the couple determines the total amount that will be spent on D-Day so it’s easier to choose between caterer quotes or flowers for example.

Comparison of a revolving credit offer and the Credistair Offer

Comparison of a revolving credit offer and the Credistair Offer

Credistair’s proposed APRC is two times lower than a revolving credit.

* Can be revised upwards depending on the use of credit.

A formula that appeals to many customers

 

Since its launch at the end of 2011, the Credistair platform has financed more than 470 million euros worth of projects. Growth that does not falter, and a real craze around the concept of lending to individuals without banks since Credistair is about to exceed the 500 million euros credit granted. You can check our testimonial page to judge excellent feedback from our customers.

Make a loan without contribution

 

When you need a personal loan, unlocking an amount to make a personal contribution is not always easy. To avoid this problem, lending institutions offer their clients loans without contribution. What are the advantages and limitations of this formula? How to get a loan without contribution ? In which cases a personal contribution is necessary?

Is it still possible to borrow without input?

Is it still possible to borrow without input?

Lending institutions provide credit without requiring personal input. Their clients are looking for simple, fast and transparent ways to get a loan. Lending without contribution meets this expectation. This is especially true when the amounts involved are small. But even for the most important projects (car loans, construction work, personal loans, etc.), it remains possible to borrow without input.

The key is to demonstrate its ability to honor its commitments and to respect the conditions set by the credit organization.

How to obtain a credit without personal contribution?

How to obtain a credit without personal contribution?

Before granting a credit without personal contribution, the lending institutions examine the financial situation of the borrower. The many conditions to fulfill can be classified in 3 categories:

  • a stable work situation, which ensures regular income over time. Concretely, this very often involves a contract of employment on permanent contract, with a seniority of several years to reinforce the solidity of the file;
  • a comfortable living space, which allows a sufficient level of current expenditure. By deducting the due dates from the amount of income, the credit institution calculates a remainder to live. This must be sufficient to maintain a satisfactory standard of living once the loan has been secured;
  • a flawless financial history, which reassures the ability to meet its commitments. Flawless repayments of old credits, and good account management in the past give confidence and increase the chances of obtaining a loan without personal contribution.

How to obtain better credit terms?

How to obtain better credit terms?

Unlike real estate loans, personal contributions are rarely required to obtain a personal loan. But to advance this amount not borrowed at the beginning of a project strengthens its financial strength. The contribution remains an effective way to show commitment and to concretely start the project. It is also a way to obtain significant advantages in the setting up of a financing file:

  • shortened credit life;
  • more competitive interest rates;
  • other advantageous financial conditions (deferred repayment, etc.).

With a personal contribution, room for maneuver is more important to negotiate more competitive credit conditions.

Reduce the cost of financing

 

Making a personal contribution reduces the repayment period or the amount of monthly payments, since the amount borrowed is less important.

Example: financing the purchase of a car of € 10,000.

  • without contribution, over 3 years and at a rate of 5%, the monthly payment excluding insurance is 300 €;
  • with a contribution of € 2,000, the monthly payment excluding insurance is only € 240;
  • with the same contribution of € 2,000 and maintaining the monthly payment at € 300, it is possible to reduce the loan term from 36 to 30 months.

In the end, the cost of financing the project is reduced thanks to the personal contribution.

The limits of personal contribution

The limits of personal contribution

Despite these undeniable financial advantages, it is sometimes preferable to make a credit without contribution. This is particularly the case when the proposed rates depend on the amount of the credit.

Example: 5% interest rate for an amount less than € 10,000 or 3% for an amount greater than or equal to € 10,000. The car buyer of the example above then has interest to borrow without input if he wants to benefit from the declining discount rate.

You must also be careful not to draw too much on your precautionary savings to make your personal contribution. Keeping a minimum of cash is essential to deal with an unexpected event.

Example: Making a € 2,000 contribution for a personal loan can be risky if it amounts to completely emptying a precautionary savings account. Conversely, it can be financially attractive, if despite this contribution of € 2,000, the borrower keeps a comfortable level of savings.

 

Personal loan simulation

Your project stopped, you must now measure the impact of your future personal loan on your cash flow. For that, a simulation of personal loan is essential! On Credistair, credit simulations are free and in a few clicks. Let yourself be guided and discover the monthly cost and the total cost of your loan, for a successful project without any surprise!

Definition of the personal loan

Definition of the personal loan

The personal loan is a product delivered by credit or banking institutions, which allows households to finance their projects. This can include all the development work of your apartment, the realization of a trip or the purchase of a used car. The personal loan should not be confused with revolving credit. Indeed, a personal loan operates differently and is not subject to a fluctuation of the APR (Global Annual Effective Rate). This rate remains fixed throughout the life of the loan.

The characteristics of the personal loan are as follows:

– The APR remains constant throughout the credit and in line with that announced in the contract, unlike the revolving credit, which is characterized by a variable rate that varies according to various benchmarks.
– The borrowed capital does not change and remains in conformity with the initial contract.
– The monthly repayments remain constant.

The figures mentioned during your personal loan simulation can therefore serve as a reliable benchmark.

Good to know: no proof required
In addition to having a fixed APR, you will not have to justify the nature of your expenses with your credit agency when applying for a loan. In short, you are free to use the amount of your loan as you see fit.

How much can I ask for a personal loan?

How much can I ask for a personal loan?

During a simulation of personal loan, in addition to the type of project (indicative) and credit duration (expressed in months), you will of course need to indicate the amount you need. This amount varies from one organization to another, but can in no case exceed 75,000 €, in accordance with the Consumer Code. At Credistair, under a personal loan, it is possible to borrow up to 50,000 €.

The principle of a personal loan simulation tool

The principle of a personal loan simulation tool

A loan simulation allows you to estimate the exact amount of monthly payments you will have to pay. These depend both on the amount borrowed and the duration of the credit. To align with your repayment capabilities, these monthly payments must absolutely be correlated with your income, to which you will subtract your expenses.

By performing a personal loan simulation, you will have access to two other essential information:

– The annual percentage rate of charge, which includes all credit-related expenses such as the fixed borrowing rate (ie the interest charged on the amount borrowed), the processing or processing fees, or the costs of the loan. ‘insurance.
– The total amount due, which includes the amount lent, interest and all costs.

Life insurance borrower: do I have to subscribe?

Life insurance borrower: do I have to subscribe?

Although it represents an additional cost and is not always required by credit institutions when negotiating personal financing, borrower insurance may be necessary in some cases. To judge its usefulness, it is first necessary to study your professional, family and heritage situation. Insurance offers are sometimes offered on the occasion of a personal loan simulation. However, you are free to take out insurance with the institution of your choice.

To help you see things more clearly, here are the cases in which this optional insurance covers you:

– Death;
– Total Temporary Incapacity (ITT);
– Permanent partial invalidity (IPP);
– Total Permanent Disability (IPT);
– Total and irreversible loss of autonomy (PTIA).

The loss of employment guarantee remains optional.

The Credistair Personal Loan Simulator

The Credistair Personal Loan Simulator

Credistair offers financing from private investors and differs from a traditional banking institution. Indeed, the interest on the loans will be directly transferred to our community of investors. So it’s a new, healthier and more transparent banking model that’s up and running.

Opting for Credistair means making the choice for your personal loan of the financing model of tomorrow, leader in France of credit to individuals. This model allows you to enjoy unbeatable rates up to € 3,000 **.
In addition, Credistair is approved by the Prudential Control and Resolution Authority as a credit institution (approval N ° 16488).

How to simulate your personal loan?

How to simulate your personal loan?

To simulate your Personal Loan, nothing more simple. All you need to do is follow the steps of the online personal loan simulator below. To begin, choose the amount of your credit (according to your needs), the duration of repayment (between 6 and 84 months) as well as the nature of your project (cash, works, new or used car, travel, equipment of the House…).

Then you will just have to fill in your e-mail address, and fill precisely all the information requested at each stage. For example, you must indicate your income and expenses, your family and professional situation, your contact details, etc.

At the end of the personal loan simulation, if your application is pre-accepted, you will be able to obtain an immediate policy response. Feel free to make a simulation (free and without commitment), it only takes a few minutes. You can also consult our personal loan guides to get all the information you need to complete your personal credit application.

What to do after simulating your credit?

What to do after simulating your credit?

After performing the simulation of your personal loan, simply click on the button “get my personalized offer” to validate your request. Then complete your file and sign your contract online, or send it to us in paper format.

In just 24 hours *, we analyze your file and if you receive a definitive positive answer, you will get the funds in the process (within the legal withdrawal period).

For a customized financing, do not wait any longer: conduct a personal loan simulation on the Credistair platform. After discovering our rates, you will have the opportunity, if you wish, to apply for an online loan in record time to finally touch your project!

Three key points to remember about simulating a personal loan

Three key points to remember about simulating a personal loan

  • Free and without obligation, it allows you to better understand your repayment capabilities.
  • Borrower insurance (optional) may be included, but you remain the decision-maker as to the choice of the insurer, if any.
  • You do not have to justify the nature of your expenses, neither during the simulation nor even in case of subscription.

Repurchase of credit: new financing

 

In the context of a loan consolidation, a borrower can obtain new financing solutions, subject to acceptance of the file by Crediteriol Personal Finance.

Grouping of credits, what is the point?

Grouping of credits, what is the point?

A consolidation of credits makes it possible to group together all credits (and debts, if any) subscribed from different lenders. Among the advantages of the loan consolidation, you have the possibility to obtain refinancing solutions, subject to acceptance of your file by Crediteriol Personal Finance.

Apply for a pool of credits

Apply for a pool of credits

As part of a loan consolidation application, Cashimagu reviews all refinancing projects related to your needs. Our advisors are available to help you find the most appropriate solution for your situation:

  • You can apply for credit consolidation and refinancing using our online credit pooling simulator.
  • You can discuss your loan consolidation project and possible refinancing solutions by calling Cashimagu financial advisers, available from 8 am to 8 pm Monday to Friday and 9 am to 6 pm on Saturdays.
  • you make an appointment with one of our advisers, in one of the Cashimagu spaces spread all over France.
  • Combined loans and refinancing solutions are repayable on a fixed-rate, fixed-term personal loan.

In addition to refinancing opportunities, Cashimagu’s credit consolidation solutions offer many other benefits:

  • Managing your various loans on a daily basis is greatly simplified. You do not waste time managing the formalities related to each of your different credits. You therefore have one and only one interlocutor.
  • Crediteriol Personal Finance’s credit pooling solutions make it possible to combine different types of credit, from consumer credit to loans linked to a store card, to bank overdrafts or mortgages. Subject to the acceptance of your application by Crediteriol Personal Finance, all of your loans can be converted into a single, traditional, fixed-rate, fixed-term personal loan.

Depending on your wealth situation, Crediteriol Personal Finance offers two options:

  • a loan aggregation solution for homeowners for an amount between € 6,000 and € 400,000 (1).
  • a loan consolidation solution for tenants for an amount between € 6,000 and € 80,000 (1).

(1) Subject to acceptance of your file by Crediteriol Personal Finance and after expiry of the withdrawal period.

 

Proof of payday loan online

The borrower who applies for a payday loan online must provide supporting documentation to enable the lender to verify that the borrower’s situation is in accordance with the information entered.

Online payday loan: Why must we provide supporting materials?

Online personal loan: Why must we provide supporting materials?

The law requires the lender to verify that the person applying for a payday loan is solvent. These checks protect the borrower against any risk of over-indebtedness. They also protect the lending institution against non-repayment of the borrower.

When applying for a payday loan online, the lending institution also checks the national file of the Fancia bank. This file makes it possible to know if the borrower has experienced payment incidents during previous credits.

Online payday loan:  Identity supporters

Online personal loan:  Identity supporters

The borrower must provide a photocopy front and back of the identity card or passport. This is to ensure that he is the person he claims to be, this to avoid possible identity theft. If there is a co-borrower (in the case of a couple for example), photocopying of the co-signer’s identity card or passport is also necessary. If the borrower is not a French citizen, a residence card or a residence permit can serve as proof of identity.

Online payday loan:  Domestic rationale

Online personal loan:  Domestic rationale

Several documents can be used as proof of address:

  • a copy of a recent landline bill (less than 6 months)
  • a receipt of electricity or gas
  • The mobile phone bill is also accepted if it is a subscription.

This proof allows the lender to verify that the borrower lives in the address he provided when applying for an online loan. In case of accommodation by a third party, a declaration on the honor of the person hosting the borrower and a proof of address will be requested. In addition, a tenant must provide the last 3 rent receipts of less than 3 months. For the owner, it is the title deed and / or the property tax that must be inserted in the file.

Online payday loan: Banking supporting materials

Online personal loan: Banking supporting materials

The borrower must compile his last 3 bank statements. These elements provide the lending institution with a view of the management of its accounts. The bank account statement (RIB) is essential to the lending institution. It allows to set up the automatic deductions linked to the deadlines of the payday loan. The canceled check is not always requested. This is an uncompleted bank check on which the borrower is marked “canceled”. The lender must ensure the lender’s history: if it is not prohibited banking for example. Providing a canceled check proves that he has a means of payment.

Online payday loan: Revenue rationale

Online personal loan: Revenue rationale

Employees will provide their last three payslips, retirees their latest retirement bulletin, the liberal professions and tradesmen craftsmen their latest package sedra. All borrowers must also attach their latest tax notice. If applicable, the pension and / or family benefits slips are also to be attached. If there is a co-borrower, he will also have to send the elements of the latter to the lending institution. When applying for an online loan, these proofs are essential for the lender to measure the creditworthiness of the borrower: they serve to verify that the announced income is real.

Assigned payday loan: The rationale for the utility of the funds

For a car loan: the applicant must provide the purchase order for the new vehicle. In the case of a second-hand vehicle, it will be sufficient to send a photocopy of the unmarked certificate of registration.

For a credit works: the estimate of the craftsman dated and signed.

For other projects: an estimate and / or purchase order mentioning the product or service.

Other supporting matters when requesting an online loan

Other supporting matters when requesting an online loan

Following a request for a payday loan online, the lender may need additional supporting documents. Most often he will ask:

  • A copy of the employment contract (if the borrower has recently changed jobs);
  • A copy of the amortization plan for an on-going consumer credit;
  • A judgment of divorce (to ensure that there is no spouse).

You can also send any proof that seems relevant to your situation.

Credit with payroll seizure

A seizure on pay follows a court decision. Whatever the reason, it does not constitute an obstacle to obtaining credit, except in certain particular situations. A seizure on salary is indeed not recorded on a file at the FinaBank, like a payment incident.

It is thus possible to concretize a project by subscribing a personal loan with seizure on salary, or to leave the rut by a credit redemption with seizure on salary. The borrower’s file must however be solid: how to prepare it?

Causes of a seizure on payday

Causes of a seizure on payday

Multiple situations can lead to a payroll seizure:

  • a delay in the settlement of the tax: in this case, ask for a schedule to spread the debt over time;
  • unpaid rents: if the amount is large, it is better to borrow the money from a relative and repay it gradually, because the amount of the amount due could cause a refusal of credit with seizure on pay from the lender
  • irregular or occasional maintenance payments: this gives rise to a decision by the pay seizure judge, which in no way affects the granting of a loan;
  • the non-payment of the maturities of a credit in progress: the payment incident will be reported to the FinaBank; It will be very difficult to get a new loan, unless you offer a solid guarantee, such as real estate.

Preparation of the credit application file with payroll seizure

Preparation of the credit application file with payroll seizure

Transparency is by far the best attitude to adopt to put all the chances on one’s side:

  • by explaining, with supporting evidence, the reasons for the seizure of pay, the amount and the duration, the file will be studied with a rather positive a priori.
  • The bank profile of the borrower is another asset: an overflow authorized or discharges of samples are ominous. The bank statements provided must therefore be irreproachable.
  • Stable and long-term employment, on permanent employment for some time with the same employer or, failing that, no period of inactivity between two employers are all good points. The pay slips will testify.
  • A co-borrower or real estate are likely to reassure the banking organization, if the file is not solid.

Finance an air conditioning project with the personal loan

The thermal comfort at home is an important element, both for the well-being in your home, to limit your energy bills and for the environment. In addition to improving the thermal qualities of the house (insulation, waterproofing …) you can choose a heating and air conditioning economical and efficient.

Air conditioning

Air conditioning

To cool your interior several degrees, when the outside temperature rises too high, you can install an air conditioner at home. There are different models:

  • the monobloc:
    a mobile device, used for the occasional cooling of a room.

  • the split:
    the device is fixed and divides into two parts. One outside that captures and cools the air and the other inside that pulsates the fresh air. It is a more expensive system but also more complete than the previous one, which makes it possible to cool a larger volume.

  • The multisplit:
    the most complex system, consisting of an outdoor unit and several inside, which can therefore air-conditioning several rooms, as in an office building for example.

Namely : Some models of air conditioning are reversible, that is to say they can produce both fresh air and hot air.

To choose your air conditioner, rely on the price, of course, but not only. His power is an important criterion. It is generally considered that a power of 100W can air-condition a living room and 80W, a room the size of a room. The size of the room, but also its level of insulation and its sunshine are to be taken into account. Do not forget to consider its average consumption, as well as the size of equipment.

Heating

Heating

The thermal comfort in your home passes by the choice of your heating. The possibilities are many and depend on your use, the configuration of your home and its connections, and the fuel you want to use. As always, specify the contours of your project: auxiliary or general heating? Fossil or renewable energy? What is your annual heating budget? What is your budget for the purchase and installation? How much are you to occupy the house? What is its surface, its level of insulation …?

You can choose between:

  • electric heating:
    the convectors are distributed in each room and fed by the electrical network of the house. There are different types of convectors, more or less efficient. The starting price is slightly lower, but its daily use is expensive.

  • fuel heating:
    fuel less and less used, fuel being increasingly expensive and polluting. However, its ability to heat quickly makes it a heating mode suitable for large areas.

  • Wood heating:
    it uses renewable energy, wood and can be declined because of the number of existing appliances (fireplace, closed hearth, insert, various types of stoves, stove, boiler, pellet stove). Use of heating, wood consumption, aesthetics … it all depends on the type of wood heating.

  • The heat pump:
    this system makes it possible to take advantage of a natural and renewable resource (air, water or earth) to recover calories. The heat is then transmitted into the house either as hot air or via convectors. So there are different types of heat pumps, the choice will depend on your budget, the house and your use. Some are also reversible.

Finance your air conditioning and heating

Finance your air conditioning and heating

Of course to install a new heating or air conditioning at your home represents a higher or lower budget depending on the model. Calculate the budget precisely, including the purchase price of the equipment, the cost of installation and connections if necessary, and the labor. Thanks to this information, you will be able to use the credit simulator which will inform you of the terms of the loan by completing your choice of loan amount, repayment period and amount of the monthly payment. By finalizing your loan application works, you will get a first answer in principle.