What it is and what expenses a mortgage loan has

A mortgage loan, more popularly known as a mortgage, is one of the most important loans that a company or individual can request. Not only for the amount but for the consequences that your non-payment can have. As we have seen in recent years those individuals who have not been able to meet the payment of mortgage payments have seen how, in addition to being added to lists of defaulters such as financial credit institutions, they lost their homes as this was the guarantee in case of non-payment of the mortgage. Although some have been able to at least cancel the debt through a dation in payment for their home. That is why it is essential to know very well what a mortgage loan is and especially the expenses involved, before signing the deed of mortgage before a notary.

What is a mortgage loan

What is a mortgage loan

The definition of a mortgage loan, better known as a mortgage, is a type of loan that usually has as its main characteristics its amount, term, and guarantee. Any type of loan, for example a personal one, is after all a delivery of money that will have to be returned together with some interest, in a payment schedule prefixed in advance. But while a personal quick loan is short term, mortgages are very long term. Since they usually finance the purchase of houses and other types of real estate. So to return such high amounts in proportion to the monthly income of any person or company usually give terms of up to 35 years and even 40 years. Normally never beyond the retirement age, since during the working life is when more income can be obtained, although there are special cases. And precisely because it is a loan of such a high amount, more than 50000 euros almost always, the guarantees are maximum. Because in addition to the personal guarantee of microloans and consumer loans, there is always a real guarantee through mortgaged real estate. In other words, in case of default, not only does the person holding the mortgage respond, as in any loan, but also the property itself. Therefore, in situations of total default, housing is lost and the debt is still maintained because in Spain there is no automatic payment, but depends on the will of the bank.

What expenses does a mortgage loan have?

What expenses does a mortgage loan have?

One of the characteristics of the mortgage loan or mortgage, is the high amount of expenses. That is why it is very important to use a mortgage simulator to know what will be the total expenses that we will have to finance out of pocket. Many of them are proportional to the amount, such as commissions, so that being a loan with a greater amount of money the expenses are higher. While other expenses of a mortgage loan are due to the formalization of the mortgage, as for example the expenses of notary and registry of the property. So we could say that the expenses of a mortgage loan are:

  • Commissions: before the signing of the operation there are study fees as in personal loans, in order to analyze the financial solvency of the applicant, and in particular that is not in lists of defaulters such as financial credit institutions. But in a mortgage there are also expenses to analyze the real estate that will be the guarantee of the mortgage loan. For this, the bank studies that there is total ownership of the property, that there are no hidden charges, and above all what is the value of the property in order to establish the percentage of financing of the mortgage loan. The normal thing is that the bank grants between 60% and 80% of the appraised value, although according to the commercial offer there are cases in bankshave given up to 100% of the value of appraisal. That is why it is fundamental to make a comparison of the best mortgages. These appraisal expenses derived from the appraisal of the property or property to be mortgaged, are carried out by experts in real estate valuations of appraisers approved by the bank. After the formalization of opening we will have expenses for commission of opening, but it does not usually reach 1% of the amount of the mortgage loan. Given the high amount of money borrowed and expenses that usually involve a mortgage. Also in a mortgage there are usually commissions for early cancellation of the loan that serves as compensation for the bank for the loss of interest when anticipating the repayment of the loan. Especially if the mortgage is canceled in full by mortgage subrogation, ie by transferring the mortgage loan to another bank with better conditions.
  • Expenses: as we said the mortgage has more expenses than a personal loan because it has to be formalized before a notary public deed, not a credit policy, which will then be registered in the property registry corresponding to the place where the property is located. But in addition to notary fees and registration fees usually also agency. That is in charge of making the collection and delivery procedures of the deed in registry as well as the payment of the corresponding taxes, such as 1% on the value of the mortgaged property as documented legal acts, except the VAT paid to the seller at the time of writing. All this to be able to register the deed of mortgage in the registry of the property, and thus make public the property and the new mortgage on the house or property. But in addition to all those expenses legally required for the formalization one of the essential expenses in a mortgage is the real estate appraisal in order to determine the value of the guarantee and thus set the percentage of maximum financing that the mortgage loan will have. Valuation report at market prices made by an independent expert, usually an architect or engineer.

With online loans, start your own business

Immediate loans and business

Immediate loans and business

Thanks to new online loans , many people’s dream of owning their own business is now possible. Many arrive at the world of entrepreneurship after verifying that the labor market does not offer the job they dreamed of, but they run into the problem of financing. Fast online loans without paperwork can be the key, the small boost that helps economically to open a new business.

Qualities that will be useful to open a new business

Once the decision to undertake is taken, there are a series of qualities that will help you to be more successful in your business. These are some of them, so you can work them and move forward.

1. Be a good seller. It is imperative to trust your product and be able to sell it to anyone.

2. Money Maybe you had it before. But if not, you can always go to personal loans online at times when you need it most.

3. Independent character. You should trust your own criteria more than that of any person to get ahead with your company.

4. Consumer attraction. You should know where the consumer is for your company and how to reach it. Maybe you need to use social networks, word of mouth or other direct mail. But if the consumer does not know you exist, he will not buy your product.

5. Patience. Maybe sometimes you feel alone in the way of building your new business, and maybe it’s a steep path. But with patience and the help of online loans for the most complicated moments, you will achieve it.

Where to start if you want to open a new business

Where to start if you want to open a new business

All the successful entrepreneurs started from below. This does not mean that your business was the result of chance. On the contrary, successful businesses have entrepreneurs who took the time to think about where they wanted to go. Although the immediate loans can be a help at the beginning, you can not forget the other steps that must be taken to get going:

  • Take the reins of your future. Only you can change your current circumstances. If you have decided that you want to start a new business, only you can design the steps to follow and when you will give them.
  • Identify the best business for you. Take some time to get to know yourself, to know what keeps you going. Do not let yourself be guided by a romantic idea and analyze well what you would like to do.
  • Dedicate yourself to something you know how to do really well. Take advantage of the immediate loans to earn money with your abilities and be your own boss, instead of putting them at the service of others.
  • Learn from others. Study other businesses you admire and examine how they got it, the steps they took to own successful businesses.
  • Design a business plan. Write down what your goals are, the steps you are going to take and the strategies you will use to achieve it.
  • Near-instant online concession loans will help you start your new business. From that moment, it will be your work and your effort, as well as the planning, responsible for the success of your new company.

Urgent Loans. Urgent loans online and without complications.

The needs of people have changed around the world and, in line with this transformation, financial solutions have appeared for each type of client. What an individual requires is very different from what an entrepreneur needs, something that creditor entities must take into account to offer better services.

Fast loans already existed before the crisis but have become popular recently. More and more online credits of immediate response are being asked to cover those holes that arise sporadically in the family economy.

What are urgent loans?

The fact that you can no longer ask for money from banks and savings banks like a few years ago is a cruel reality that we must assume. However, every time there are more difficulties to reach the end of the month and the need to have a response to contingencies is omnipresent.

As a result of job insecurity, that is, junk contracts, unemployment and other reasons, today it is very difficult to get credit in the most conventional way. However, other options have emerged to deal with this reality.

The need sharpens the ingenuity, says a saying and we can see it by looking at the current online loan offers on the internet. There are a few financial institutions dedicated to granting urgent loans to companies or individuals without many restrictions. In short, any adult can request one of these credits as long as it proves able to pay and does not appear on a list of defaulters.

In addition, urgent loans are approved and granted at a higher rate than conventional loans. This type of credit is the answer to the pressing and recurring needs of citizens.

In the network we will find a little of everything, from minicredit credits that do not exceed € 50 to immediate credits amounting to hundreds of euros. In general, companies have a limit for the urgent credits they grant through their web pages, usually up to € 1500 for new customers.

From there, the conditions vary from one company to another. As a rule, the amount of the maximum credit that is granted to a user increases after the first credits, when he has already demonstrated his ability to pay to the entity.

How to get urgent credits

How to get urgent credits

There are several financial companies that offer urgent loans, you only need to carry out a search to get a list. It is common for these entities to offer us a loan calculator on their pages in order to estimate the terms of the credit that we will request.

Request from € 50 to € 10,000!

Next, they will ask us for our personal and contact information, as well as our bank account, to make the transfer.

We will have the money in just a few minutes if we have a bank account in one of the entities with which the company works. Otherwise, the transfer may take up to a couple of business days.

Urgent credits are granted very easily and quickly. Most of them tend to be loans without payroll and no processing is required, as only a brief check of the personal data of the loan applicant is required.

The money, after the approval of the credit, is entered into your bank account in a matter of 10 or 15 minutes. In some cases, the income may take longer but never takes more than a few minutes.

Requirements to request an Urgent Credit

Among the great advantages of this type of loan, is that you do not need to submit large amounts of documents to request it. There are even urgent loans in which the only thing you have to present is your ID, although most of them also ask for proof of stable income.

Thanks to it has been proven that many people make timely and in shape all their payments when we talk about urgent loans, regardless of whether or not they have paperwork, or documents that prove their financial status, have created many urgent credit schemes on-line.

If you do not have payroll receipts, do not worry. You can present a pension receipt, unemployment insurance, or any document that proves that you are a self-employed worker who receives income.

What is essential, regardless of the type of loan you request, is that you have an email and an active mobile phone number and of which you are the owner. This is because all the communication between you and the company that gives you the credit will be carried out mainly through this means.

Both the status of your application and all the notifications regarding your online loan will be carried out via SMS and email. Even for security reasons, in case you need to recover your account or change your passwords, you should be aware of both your mobile phone and your personal email.

Additionally, it is necessary that you are of legal age and that you are a legal resident of Spain to be able to request any type of immediate loan.

Advantages of urgent loans

Advantages of urgent loans

One of the fundamental requirements for the system to function properly is that it is safe. Financial institutions take this issue very seriously and, as is proper, offer the necessary guarantees for their customers to use the service safely.

Detailed information on each step of the process and confidentiality is provided at all times. The characteristics of the service are detailed on each page of one of these entities. It is possible to manage the microloans from the private area of ​​the website that we use or through our personal email. These measures are those that guarantee security.

Reliable and flexible Mini Credits

Unlike conventional loans, they can be requested any day of the week and are granted as soon as possible. In addition, we can know exactly the amount of the fees that we will have to pay depending on the amount of money borrowed and the return period.

Transfer times vary from one entity to another. It is always advisable to consult these data before requesting a mini credit of these characteristics. After all, online mini-credits are requested to receive the cash at the right time. We can take a disappointment if we do not check the conditions of the deposit account in detail.

Some companies make the entry in an hour or less, others come to do it in just a few minutes for former users.

Transparency is maintained in each of the steps of the process, since each of the conditions of the mini-credit, the return, the possibility of extensions, etc. are presented in detail.

Solve your urgent financing problems

These minicréditos instantly solve many problems to those who can receive them. They are not granted to all persons, since it is necessary to demonstrate that they are in a position to pay the loan within the established period. In addition, the creditor companies reward responsible users with incentives and better conditions in their future loans.

Therefore, it is highly recommended to make good use of this type of urgent mini-credits, since the lender entity will become an ally in the face of adversity in times of crisis.

There is a solution for each of your economic problems. The first step towards solving your problems is to believe that there is – in effect – such a solution. The second is to have an effective way to act on each problem. When it comes to lack of money, urgent loans offer you the best solution.

Request urgent money in 10 minutes for incidentals

Sometimes there are difficult economic times where it is necessary to request urgent money in 10 minutes to face any unforeseen event. And we do not always have enough savings to cover unexpected expenses such as repairs or accidents. So if you need money now and you can not fix it for yourself, it’s best to ask for financial help. It is normal, and you will not be the first nor the last one to have to ask for an urgent loan to get money already. Not everything in life can be planned, contingencies always arise and usually at the worst possible time.

Compare the best mini credits instantly

Compare the best mini credits instantly

The problem with getting money urgently is that there is a wide variety of quick credits, and not all companies offer the same conditions. Hence, it is essential to use an online comparator such as SMS Credit, to save time and money. Because this way you can find the best options to get immediate money in less than 10 minutes, without having to browse dozens of websites. No matter what your financial situation is, there may always be a time when you need money urgently, and then you will have to look for the cheapest financial solutions to be able to get money instantly. This way you can save yourself the bad time of having to ask for money from a family member. You will simply have to fill out an online form to have your money in less than 10 minutes.

Are you ashamed to request money fast?

Are you ashamed to request money fast?

There is no problem in requesting fast money with mini credits, for that they are. Another thing is that we use that financial aid as a permanent solution to our financial problems. That is to say that if every month you have difficulties to arrive at the end of the month and you need money, then you should put yourself in the hands of a financial adviser. A professional, or financial coach, who will basically be responsible for making a budget of monthly income and expenses to know your financial situation and identify why you need money from mini loans every month. Since it is a sign that something is wrong with your personal finances.

But regardless of why you need financial help to get to the end of the month, keep in mind certain requirements when requesting fast money with mini loans. The first of all is to avoid what seemed like a solution to your financial problems, in the end it becomes a serious problem. Keep in mind that mini fast loans usually have a very short return period, it is not that you have to return the money but you will not have more than 30 days to pay the money of your debt. And you’ll have to do it in a single payment, without comfortable monthly payments that suit your needs. You simply ask for the money, you charge it immediately, and after a maximum of 1 month you will have to pay back all the money. That is why it is very important to use a quick loan comparison tool to be very sure of the amount of money you will have to repay before contracting the loan. Because many people are not cautious and in the end they end up splicing a mini loan with another, making the debt bigger and bigger when they can not return the money. So do not be afraid or ashamed to ask for financial help, as long as you follow the advice above.

Loans for young entrepreneurs and entrepreneurs in 2018: which ones can you request?

Sometimes, many people with a good business idea do not get to run because they do not have enough money to carry out their business project and it could be an idea that worked and became a success. There are many businesses that fail to take off before becoming business and, therefore, are interesting loans for young entrepreneurs  and entrepreneurs. 

These  loans are loans and lines of financing created to stimulate the creation of companies with the sole guarantee of a business project.

If you want to start your own business for someone else but need funding to start the activity, there are several loans designed for young people who undertake to which you can turn and which are launched for this year.

You just have to find out what they are and, if you meet the requirements for any of them, submit the application duly completed in the determined time.

Therefore, we will comment on the main loans for young entrepreneurs in 2018 from which you can benefit. Take note!

Loans for young entrepreneurs 2018

Loans for young entrepreneurs 2018

The loans for companies and entrepreneurs 2018, with a maximum of up to 12.5 million euros per customer in one or several operations.

Concepts such as liquidity and investments in national territory are financed (passenger cars, second-hand or new productive fixed assets, acquisition of companies, rehabilitation of homes and buildings and liquidity with a limit of 50% of the financing obtained for this type of investment).

The interest rate is fixed or variable plus the margin taking into account the repayment term. Until December 21 of this year.

Enisa line for young entrepreneurs 2018

Enisa line for young entrepreneurs 2018

Enisa Young Entrepreneurs Line, is a participative loan for young people who want to create SMEs with main activity and social domicile in the national territory, with a novel or innovative business model that is not framed in the financial sector except for exceptions, among other conditions.

The amounts granted range from 25,000 to 75,000 euros, with Euribor interest + 3.25% differential or variable depending on the financial profitability of the business with a limit of 3-6% taking into account the rating of the operation.

Subsidies and loans for young entrepreneurs and entrepreneurs offered by the Government of the Canary Islands

1. Autonomous Employment Promotion Program 2018 of the Canary Islands, until October 31, 2018. The credit for 2018 for the promotion of self-employment is 8,902,470.29 euros, divided into different budgetary applications.

2. Grants for self-employed people in the Canary Islands with application until October 31, 2018 are 5,000 euros for the unemployed, 6,000 euros for young employees of 30 or less, 7,000 euros for the unemployed, 8,000 euros for women aged 30 or younger, 7,000 euros for disabled men and 9,000 euros for disabled women. Accounts with 1,000 euros more if you are enrolled in the Youth Guarantee Fund or you are long-term unemployed.

3. Agrojoven Program for the incorporation of Young Entrepreneurs to the Agricultural and Livestock Sector on the island of Tenerife for the 2018 and 2019 years. For those under 41 years of age registered in Tenerife with a business project related to the development of the rural environment of Tenerife with main activity the agricultural and / or livestock.

4. The SGR have loans and leasing for SMEs and self-employed people of the Canary Islands, offering credit policies, loans for treasury, refinancing, investments, purchase of real estate and guarantees to present to companies, competitions and bids, for companies in the gaming sector for the advance of subsidies.

The SGRs are financial entities whose main activity is to provide entrepreneurs, self-employed workers and professionals from the islands with access, through the provision of guarantees, to the best financing conditions.

Other instruments for self-employed workers, SMEs and micro-enterprises

Other instruments for self-employed workers, SMEs and micro-enterprises

Other instruments for the self-employed, SMEs and micro-SMEs with 85% FEDER financing and the Canary Islands Government are the micro-loans from the Canary Islands, the Guarantees Program and the Private Co-Investment.

  • The microcredits are up to 50,000 euros without endorsement, guarantor or guarantee for entrepreneurs with new business ideas or freelancers or SMEs with less than 3 years of activity for a new project or line of business. The repayment term is between 12-60 months with an interest of 6.5%.
  • Avales is a soft loan program with financing costs below market and reduced guarantees.
  • The private investors offer up to 500,000 euros or 50% of innovative projects.

Loans for young entrepreneurs of banking entities

Loans for young entrepreneurs of banking entities

The different banking entities also offer loans for young entrepreneurs and entrepreneurs in the islands. We tell you what they are and the characteristics of each one:

  • Loan for young entrepreneurs from apobank. Up to 25,000 euros or up to 15,000 euros.
  • Loan for young SSVA entrepreneurs, from 3,000 to 25,000 euros to repay in a maximum of 60 months, with a 6-month grace period. 

Benefits of loans for young entrepreneurs in 2018

They allow a business to start entrepreneurs and entrepreneurs who, at that time, do not have enough money to create their project.

  • They avoid having to resort to personal, more expensive loans.
  • More advantageous conditions, in some cases lost.
  • Lower commissions and interests, sometimes without commissions.
  • Better grace periods and effective periods.
  • They are renewed and improved every year.
  • They are focused on the profile of the entrepreneurial community in Spain.

How to apply for these loans for young entrepreneurs in this 2018?

To finish, let’s see, step by step, what you must do to apply for one of these loans for young entrepreneurs and entrepreneurs in 2018.

  1. Choose the loan or financing line that fits you and your project.
  2. Know their conditions and study them well, check that you meet the requirements.
  3. Complete the application and submit it on the date indicated.
  4. Find out if there are compatible financing lines that may interest you.
  5. Know the financing conditions, accept only if you agree and you can fulfill them.
  6. Read everything before signing any document, even the fine print.
  7. If you have any doubts, consult them before submitting your application.

If you want to get more information about these  grants and loans for young entrepreneurs or other financing options for your project, do not hesitate to ask for an appointment with our team of experts. We will wait for you!