With the home loans (renovation and decoration), and for the purchase of a car (whether new or used) that in Italy are the masters (accounting for approximately sixty of the total and in the delivery), and not forgetting that with the crisis more and more people are borrowing cash to get to the end of the month, it is useful to know what are the requirements to get a loanFirst of all you need to know which are the bodies responsible for the provision of financing, such as the purposes covered and what guarantees are required for the disbursement of the financing. In Italy, the banks and the financial intermediaries registered in the special registers are the subjects authorized to grant and extend credit to the consumer, whose main types include: In the second place, the bank will consider the granting of funding on the basis of its risk policies and the creditworthiness of the applicant. In the first case, each institution applies its own risk policy, based on statistical data in his her possession (credit scoring) in order to keep delinquencies below a certain level. With regard to the creditworthiness of the applicant, however, an assessment is made which takes account of the relationship between the repayment rate and the income of the applicant that, in general, should not exceed thirty in addition, are consulted in the reports provided by the Risk Central (CRIF), which record any missed payments or delays in the repayment of previous financing. As an alternative to the types of loan traditional, in cases where the applicant is registered in the lists of the CRIF, to him it is possible to have recourse to the request for assignment of one fifth of that, suggesting appropriate guarantees from the employer to the employees (or the social security administration to the retirees), allows you to receive a loan even in case of a bad credit history.
However, it is important to remember that the rates of reimbursement of the sale of the fifth are higher than those provided by other forms of financing.
In addition to the minimum requirements, the financial may ask you for collateral. While generally the grant of a loan is not conditional upon provision of collateral (for example, a mortgage), to limit the risk of insolvency, often the lenders require the presence of other persons, the the so-called coobbligati, who bear the responsibility of repayment of the credit in the event of nonperformance of the customer. An additional form of security for the protection of creditors is the presence of insurance coverage, mandatory in the case of the sale of the fifth (covering the risk of life and on the risk of employment of the applicant) and loan life cover (damage by fire and explosion of the real estate), optional in all other cases. Therefore, in the comparison of two or more offers, the APR is the element of comparison is best, since it takes into account the total cost of a loan, including all of those associated costs usually excluded from the calculation of the TAN. It is, however, necessary to remember that the comparison of TIC between two or more loans, it is possible only on equal terms (amount financed, and length of time). In fact, it is useful to remember that, for a given amount financed, the APR is reduced with the increase of the duration of the loan while equal duration, the APR is reduced with an increase of the amount of the loan. In any case, if you want to find the loan most convenient way to do a quote on our web site and you will have the list of all loans with more advantageous conditions. According to the legislation in force, for a client should always be possible to settle the financing in advance of the date of the scheduled completion date. The same will have to reimburse the remaining capital still had to maggioratodi a penalty, which may not be more than of the amount financed. The repayment plan used by the Italian banking system is defined as “French”. This methodology provides for a constant instalments the sum of two components, the interest portion and the capital portion. A fundamental characteristic of the depreciation of the French is that the first rate has as integral part the share of interest, while in the latter it is predominant above all the weight of the share capital. In other words, with the prime rate could above all, the interests, and with the last, the capital. This makes it extremely more advantageous to pay off a loan at the beginning of the repayment plan compared with that at the end. The advantage is clearly more sensitive to the long term loans if you are unable to repay in the first three years a loan of months, you get a savings (in terms of interest not paid) is quite significant. Moving on to the practical aspects, keep in mind that the extinction of the loan early by sending a communication appropriate to the Credit Institution that must be conveyed by a letter To R. in Addition to communicating the request for early termination, it is necessary to apply the so-called 'account extinguishing', which is the count of the amount of money that must be paid to obtain the discharge of the loan. Once you have obtained this count, the funded proceeds to the reclamation of the amount communicated by the Bank or Financial. These, on request, provide a 'release form', which is a declaration that attests to the extinguishment of the loan. In the valley of the extinction of the loan, it is mandatory for Financial Institutions to communicate to the various data banks, credit and the different data provider bank the early termination of the loan. This step is critical for the customer that wants a later time and regain access to credit.
