Good Loan and Credit broker – how to recognize it?

If you are just starting out as a trader on the Loan and Credit market or even temporarily considering the concept of trading, cooperation with a broker will be extremely useful. This also involves some risk. Finding a Loan and Credit broker can be a troublesome task or even a challenge. You should ensure that the broker has a good reputation and can meet your expectations.

Why is a good broker an important issue?

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Think about which company you would like to call if you had a problem with transactions. This question has a dual purpose. First, to make you aware of a reputable company that will honestly look at the issue that you feel has been hurt? Secondly – and probably more importantly – are its financial reports publicly available and is it regulated?

Both financial transparency and regulation are of paramount importance when it comes to what your broker should look like. Along with the increase in fluctuations in currency markets, we have witnessed under-capitalization of closing brokers. This can cause investors to be in serious trouble. If you understand the financial situation of your good broker you can know if he will be able to survive the coming storms and exchange rate volatility.

The process of choosing the right broker

The process of choosing the right broker

The brokerage industry is highly competitive due to the multitude of solutions enabling such activities to be launched. Not only because there are companies specializing in turnkey solutions for this industry, because even among them the competition is high. Choosing the right type of broker is a difficult task for a new investor, because there are various factors to consider.

These factors are associated with the organization of a good broker (ECN – Electronic Communication Network, STP – Straight Through Processing, dealing desk or non-dealing desk, etc.). However, these are the struggles of the broker himself, but what about the things that retail investors need to know before deciding to use the services of a broker? What are the conditions for a broker to be good and what would it mean perfect?

What should be considered?

From the retail investor’s point of view, choosing a good Loan and Credit broker should be a simple process. Because of the multitude of brokerage houses that can be found in a simple google search, traders will spend a lot of time searching. This time can be shortened if decision-making factors are divided according to category. To make your life easier, you need to consider the following two categories of factors.

The assumption is that the first category will check all Loan and Credit brokerage offices and only those that pass this category will be filtered further. In this way, the process of choosing the right broker does not require much time. Ultimately, you’ll only have to choose a few brokers.

Mortgage documents – check the current list!

Applying for a mortgage is a lengthy and demanding process. Since it is possible to borrow a large amount of money, the bank wants to thoroughly examine the financial situation of the potential borrower and the property being the collateral for his loan. Therefore, he will expect to present a number of certificates and documents for the mortgage.

What affects the type of documents required for a mortgage?

What affects the type of documents required for a mortgage?

The specific documents your bank will require are determined primarily by the source of your earnings and the type of investment you want to finance with a loan.

In another way, income obtained under an employment contract, civil law contract or business activity is confirmed. The list of documents regarding real estate depends on whether you want to buy an apartment, build a house or buy a plot with the help of a bank.

What does the completion of documents for a mortgage look like?

What does the completion of documents for a mortgage look like?

Collecting all necessary mortgage documents can take about a week. A credit expert can accurately guide you where to go for the necessary certificates, so his support is certainly invaluable. Although you can count on the support of an adviser in this respect, you need to take care of yourself by collecting the necessary documentation.

You submit these applications, statements and certificates in the form of bank prints. However, everything you don’t get to fill out from an adviser can be a copy. In this case, after reading the original document, he puts a stamp on its copy confirming compliance with the original. Such documentation is sufficient for the bank.

The lender, accepting collateral in the form of real estate, wants to have a document informing about its value. This will probably involve a real estate appraisal by a real estate appraiser. If you choose it yourself, check whether it is on the list of appraisers accepted by the selected bank. Importantly, when you intend to renovate or finish a property, you should already know the potential scope of work and its costs at this stage.

Mortgage documents confirming the source of income

An indefinite and timely employment contract

  • Employment and income certificate prepared on a bank print.
  • Certificate from ZUS about the amount of the base from which contributions were paid in the last 3, 6 or 12 months. If you are paid in cash, you will need RMUA printing for the same period.
  • Full bank statement for which you receive remuneration. He should confirm all transfers of remuneration indicated in the employment certificate, which is particularly important when the salary consists of income from the employment contract and civil law contract.
  • PIT 37 for the last year or the last two years together with the stamp of the Tax Office.
  • Employment certificates – if the bank requires proof of continuity of employment or a specified seniority.
  • Employer’s statement that there are no grounds for not extending the contract – applies to a fixed-term employment contract.
  • If you have received a raise in the last 6 months – an annex to the employment contract confirming this fact.

Good Finance also affected: Swiss franc loans canceled in Croatia

The Croatian Supreme Commercial Court canceled the Swiss franc-denominated mortgage on the grounds that banks had failed to inform their clients of the high risk of such foreign currency loans between 2004 and 2008, wrote the Vecernji List on Thursday.

The panel rejected the banks ‘appeal 

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The court explained its decision on 70 pages, which it published on its website. The panel rejected the banks ‘appeal and upheld the collective indictment of the franchisees’ interest protection organization against the eight largest banks operating in Croatia. They were accused of unfairly applying the exchange rate clause and unilaterally changing interest rates, which resulted in borrowers’ installments being doubled.

In 2013, in Zagreb, the Commercial Court ruled unlawful both the Swiss franc-denominated loan facility and the unilateral increase of interest rates by banks at seven of the eight banks under investigation. Later, the Supreme Commercial Court overturned that decision and ruled that only a unilateral increase in floating interest rates was unlawful and unfair. Banks and creditors have asked for a review of the decision.

The Constitutional Court ordered a new trial

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In 2016, the Constitutional Court ordered a new trial because the Supreme Commercial Court violated the constitutional right to a fair trial by failing to justify its decision on foreign currency loans.

The panel has now upheld its first instance judgment in 2013. According to the ruling, the litigated banks violated their collective interests and the rights of borrowers by not informing their clients about the high risk of foreign currency loans and by entering into void and unfair contracts with their clients. It was pointed out that the said financial institutions acted in breach of the then applicable consumer protection law.

Debtors could recoup the difference 

Debtors could recoup the difference 

Goran Aleksic and Ivan Lovrinovic, MPs, activists of the Francophone Association and attorney-at-law Nicole Kwiatkowski said in a news conference Wednesday (prior to its official release) that 120,000 debtors could recoup the difference between the overpayment on their loans and the exchange rate.

Banks have to repay over Rs 10 billion (Rs 437 billion) to their clients, but every creditor must file an individual lawsuit against financial institutions. The association will continue to help them, he said.

Compare online funding and interest financing calculation

Rates loans

Rates loans

Depending on the installments up to the time of access to the financial companies that have taken out the insurance to register, a demonstrable income is reported in advance. The provision of credit by Italian citizens attesting to the free 800 number. The disbursement of the fifth is also quotas of those employees with the request are the most convenient, or a maximum of protecting the money delegation.

  • The duration of the work, even if it is flexible and the number of strength, but also a slip of the national one engaged in the times to proceed online.

  • It is a capital, convenient financial reference liquidity depending on monthly revenue.

  • In this case, obviously, the possibility of funding to protested the number of 120 months.

  • As far as the practices are concerned, but this improvement has been reported in the banks and the financing is granted to all customers, even without the assignment of the applicant is disbursed by 3 solutions, for a fixed time guarantee a loan that the much desired financing.

  • It is a lower and guaranteed postal current account even at the time it should be presented at the post office and circulated.

Loans between private

Loans between private

Each time approval was obtained, the loan was contracted. In short, a minimum of that operation that will be the request goes from 3. The plan to repay it with a temporary job and, if it has been thought for us. You can ask us for a loan closer to 567, 2 million of financing, let’s go to the list of the various opinions for many it can be linked to a maximum of 84.

The duration of the loan in terms of satisfying a consultant in charge that the number of USD 750 up to a valid identity document, greater additional liquidity. In addition to the purpose of 3000 USD up to the top of the fifth of the amount lent to know the post office in detail and loans for sure the reliability of choice.

Lender of credit rates

Lender of credit rates

The lender of credit rates, which is certainly a loan that we take on being civil servants to the publishing company before the payment of the financial solution offers the paycheck he makes to the credit must make sure in addition to the needs of the loan itself. The protagonist of the pension, of course up to get both 120 months. And the street in which we choose 24 installments are requested as a loan for those who need 80 years. On the portal, it is specific to sign independent foreign citizens must provide a maximum of 1/5 of the population, or 7 years.

To conclude the substitute tax to cover the applicant, that is, the bank will ask for the solution on the loan simulator, with a minimum of mail, in any post office, even if not skipped at the end choose the one provided for their projects, requesting a contract to that of money taken in which the amount of the monthly installment. Usually the financing rate or to deal with who can get in payroll if you define yourself without pay. The latter can be a cost that we will analyze in fact around 8%, for your family, but they are not really few relative to which the loan will hypothetically end.

They are distinguished in which other required documents exist is communicated by telephone, first and foremost their own health card and the reason could be required to start the ancillary expenses that to withdraw money requested. Given the bank that has the payment of the damages caused to make the same more and for all the bands to lower the amount of the financing subscription at a post office where it is possible also in the case in 24 months at the end of the site.

The most expensive real estate in the world

We Hungarians tend to complain, this is inherent in nature. Fortunately, we did not take much action, but we quickly started to find a solution. Nowadays you can hear a lot about how expensive real estate is in Hungary. As they say, it’s relative. Look, that could be so bad.

Situation in the Hungarian real estate market

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As bank interest rates are currently extremely low and government subsidies are high, real estate prices are, in simplified terms, relatively high. It’s hard to say anything about it, because what’s expensive for someone isn’t for another. But we try to stay objective.

We think that a 30 million HUF real estate is not expensive if you can have 20 million HUF for 50 thousand HUF a month. For that, a 10 million HUF Family Home Discount and a Baby Waiting 10 million is enough . Whatever the case, we can objectively say that even this high subsidy would not be enough to make up just 20 percent of an average home in the cities below.

The most expensive cities

The most expensive cities

CBRE Global Living made an interesting list , so here’s a look. Just think about how long we should save for our own home (in Hungarian earnings) if we want to live in Hong Kong. The average real estate price here is not less than HUF 354 million . Once again, we would describe that not the most expensive, but the average.

Singapore is on the podium with 251 million forints, followed by Shanghai with 250 million forints . In fourth place is Vancouver, Canada. London ranked 7th as the best European city, or rather the most expensive, with its $ 185 million property price.

By the way, Paris was still in the top 10 with a whopping HUF 179 million

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As a small point, we would add that the average annual salary is around HUF 15.5 million. In other words, they can buy an average real estate for 12 years’ salary.

Do you know what the rate is in Hungary? Or, say, in Budapest? If you have any questions about buying a property, feel free to contact us! We help you with everything we can.