AuthorJames Sherman

Loan for bad credit online -Online finance companies for bad credit: Book loan

Online finance companies for bad credit: Book your loan now

Currency is an online platform that offers personal loans in very good conditions (there are multiple payment options and they offer a lot of flexibility). So if you need to have up to 5000 USD right now, this platform will solve the problem. But we are going to tell you a little more about online finance companies for bad credit so you have all the necessary information.

With Currency you can choose several types of loans:

  • You can request up to 5000 USD.
  • Request a mini loan of up to 750 USD.

Depending on the option you need, and selections, you will have time to return the loan and conditions.
In addition, applying for this loan online is quite simple. As in most companies of this type, the application process is greatly simplified so that: you should not upload any documents that are really unnecessary for the application and you should not answer unnecessary questions either.

You will only need a device with an internet connection (tablet, mobile, computer …) to make the request and in case it is accepted you will receive a personalized loan offer to your profile and your needs. It usually coincides or is close to the requested quantity.

More things you should keep in mind: if you accept the offer that Currency proposes to you, you will be credited to your bank account or your PayPal account (as you prefer).

And you can pay it in the most convenient way: recurring payments automatically to your PP account or you can also pay with a Visa or MasterCard debit credit card. Another option is to choose to make a manual bank transfer from PayPal or from a Trustly account when making payments. Although Currency will always notify you via SMS and email that the payment date is approaching so that the fee does not expire and you can make the payment on time.

How to Apply for Fast Online Loans in Currency?

How to Apply for Fast Online Loans in Currency?

Applying for Fast Online Loans in Currency is very simple, you only have to follow 3 steps:

  • Fill in the Online Form: Access the page and fill in the requested information, select the amount of money you need, select the monthly payment amount and the monthly fees from $ 25 to $ 1,666. You decide the amount you want to pay each month.
  • Choose the Loan Form: When submitting the form, Currency will analyze the application and in just a few minutes you will receive a personalized offer tailored to your needs.
  • Receive the Money: Accept the loan offer so that Currency makes the transfer of money to your bank account quickly and safely.

Requirements to Request a Fast Online Loan in Currency

Requirements to Request a Fast Online Loan in Currency

To apply for a quick online loan in Currency you just have to meet a couple of requirements:

  • Be of age
  • Reside in Spain
  • Have a valid ID, NIE or Passport
  • Have a bank account
  • Have a mobile phone

With all this information we can only say do you need 5000 USD? Currency gives them to you.

Online payday loan direct lender -Join in our payday loans direct lenders deals

Borrow 50 euros and ensure that you have the money at your disposal as quickly as possible? It is wise to take a look at the small loan. You have the opportunity to borrow some money quickly, which you can repay after a few weeks. You get money quickly and you pay it back quickly. You can borrow 50 euros without having to take out a long-term loan.

Join in our payday loans direct lenders deals

Would you still like to borrow money? In that case, you can request the payday loan direct lender online, which is very simple. In any case, it is important that you have a permanent contract, but you cannot borrow money with a benefit. Moreover, you no longer have to be a student. You can then borrow 50 euros to ensure, for example, that you can pay for your groceries. The money is in your account quickly, if you borrow money for the first time it takes a maximum of one working day. With a second time, you can borrow 50 euros within 10 minutes.

Quickly borrow money

You can quickly borrow 50 euros online as if you were doing it from a friend. Of course, keep in mind that you pay a little interest on that and that you have to pay the money back on time. Moreover, there may be some additional costs, which makes it worthwhile to investigate other amounts in addition to borrowing 50 euros. For example, in many cases it is better to borrow 1x 100 euros than to borrow twice in a row.

Determine the amount to be borrowed

Determine the amount to be borrowed

Do you want to determine what is the best choice in your case? You can submit an application for both 50 euros and 100 euros. That way you quickly find out what the costs are the moment you want to borrow a few tens or you want to make use of 100 euros immediately. You can borrow 50 euros online for that matter, although it is a relatively small amount, which means that the costs are relatively high.

Non-bank loan quickly and easily

Is the loan outside the bank safe? We asked dozens of people about that. The answers were diverse. They also reflected on people’s experience with loans. The first group of people said they would never borrow. They just don’t like the feeling they owe it somewhere. The second group replied that a non-bank loan can be safe, but it depends on which provider we choose. The last respondents told us that they are currently repaying the loan and have no problems with it.

Conditions inside and outside the bank

bank loan

If we decide to borrow at a bank, we should prepare for different requirements than when borrowing from a non-banking company. In banking institutions, they will generally lend to those who are confident that they will be able to repay the entire loan on time. It is intended primarily for clients who are employed full-time for more than 3 months and for an indefinite period of time. Also the amount of income plays a role here, but if you fall into this category you have the highest chance of getting money. Also, we should not forget that you must not be kept in the register of debtors Solus or in other negative registers. Unfortunately, if you are in insolvency or a distraint order, you are also without a chance.

A loan without a bank or a so – called non – bank loan is for clients who to some extent do not meet the requirements of banks. You can get a loan even if you are on probation or only on a temporary job. Many companies also do not look into the register of debtors. This type of loan is called a loan without a register. Mothers on maternity leave, pensioners and students are frequent applicants.

The non-bank loan has made great progress. Thanks to the large number of providers, everyone really chooses. Many people say: they will not lend me anywhere. We advise those trying out intermediaries who work with multiple providers. Just fill in one form, you can get more offers and then choose. This will save you a lot of time filling in dozens of applications everywhere. In principle, avoid paying fees in advance.

When not to borrow?

In some situations, it is better to stun and prefer not to borrow. Which are they? Loan not things we don’t need. More and more people are financing appliances through expensive loans, which is unnecessary. You can save on such things yourself. Pickling an old loan with another loan. You can get into big problems very easily. If you have multiple loans try to get loan consolidation, the so-called merging loans into one and more convenient. Another inconvenience is a loan for holiday or Christmas gifts. If you do not have a steady income, we do not recommend it. Beware of business representatives who will urge you to sign.

How to choose a loan?

How to choose a loan?

We should only choose a non-bank loan after they have rejected us at the bank, because in most cases the loan at the bank is preferable. If you only need a small amount of up to CZK 10,000, you can take advantage of events such as the first free loan. Choose very carefully for high loans. You were interested in the interest rate and the approximate APRC. Consider the maturity date, note that the longer you pay back the more you pay. The best option is when the loan can be repaid early without any charges. Some companies will only borrow you if you guarantee property or land. Find reviews and ratings on multiple sites to help you make your choice.

What about the contract?

You should receive a contract before you raise money. There are several ways to sign it. The first is that you come to the company branch and sign it on site. If it is too far for you or you cannot come it can be emailed to you. You print it, sign it, and mail it back. Does that also not suit you? Some non-banking companies offer a courier to come to your home. For small loans it is possible to sign the contract electronically. It is up to you what option you choose anyway, read all documents sufficiently, so that the non-bank loan will not surprise you. More and more fair companies are trying to make contracts clear and understandable.

What a non-bank loan definitely not

What a non-bank loan definitely not

Beware of dubious advertisements on the Internet and especially in various magazines. It happens very often that people fly to cheaters. This is largely due to the fact that we are already desperate and looking for any solution. Although it’s really very hard try to keep cool. A nonprofit organization or KRUK, which provides buy-out or legal services, can help. Still beware even companies that offer debt relief may charge very expensive fees.

Non-bank loan on hand or on account?

Getting money right into your account is now a more popular and in some cases much faster way. Of course there are people who don’t have an account. Because they cannot establish it because of execution on salary. They use relatives’ accounts or create children’s accounts. Attention, if you want to get a quick loan to an account that is not yours, this is not possible for 99% of companies. What about a hand loan or postal order? More and less providers will offer you this option. These loans are generally much more expensive.

Non-bank loan from people to people

This means we do not mean P2P loans, but that it is only a service. In the city you have several hairdressers that provide haircuts at different prices and it is up to you what you choose. The loan is more or less the same. Just choose the offer that suits you and don’t get pushed. A quick non-bank loan should be a service that really helps you. Often people get into trouble by their own fault. Laxiness and irresponsibility to meet financial obligations is very dangerous. Unfortunately, there is very little financial literacy in the Czech Republic and many citizens pay for it.

Lending Banks Without Income Certificate


If you have regular monthly income but you can not use the loan, you can reach the detailed information about the banks that give credit without income certificate by reading this article. And without a certificate of income, the loan is withdrawn? Are there any banks that provide credit without income certificate? First of all, let’s look for answers such as what is the income certificate and where to buy it.

What is Income Certificate?

What is Income Certificate?

The document that determines the monthly earnings of individuals or institutions, that is, their income, is called as income certificate . In other words, the documents that show your monthly income generated by the salary you receive from the place of work, the salary you receive from the state or the rent you get from your real estate are called income documents . When your credit rating is low , banks may need such documents and obtain them from the accounting department of your workplace.

Is Credit Used Without Income Certificate?


First of all, we can say that this is directly related to your credit rating . If your credit score is well above the normal level, that is to say, the banks will give you a loan without demanding income from you. High credit rating is the most fundamental element in the eyes of banks and there is no obstacle for someone with a high credit rating to use products such as credit or credit cards. However, if your credit rating is low and you are asked for a certificate of income in the use of credit, then you should be informed about the banks that give credit without income certificate. In this article, we will give you information about the banks that give credit without asking for income certificate .

If your credit rating is not high and you can not use the loan from the banks, if your credit applications are rejected, you can read our article titled veren Banks that give credit to those whose record is broken öncelikli. If your registry is broken or your credit rating is low, the bank may ask you for an income certificate directly. In such cases, banks that give credit to the broken record can be searched. Now let’s give information about the banks that provide undocumented loans .

Non-Revenue Lending Banks Actual 2018


If the banks request a proof of income during your loan applications and you cannot declare, you may have information about the lending banks without a proof of income. The banks to be listed below are able to provide loans without an income certificate . As these loans will be within certain limits, you can find more detailed information about the banks that give credit without income certificate and their limits just below the list.

You can use the loan without income certificate by applying to the banks listed above. The top three banks are the branches that provide services via branches and the Internet. If you are working with these banks or will start working you can use undocumented loans without going to the branch. Now we will give information about how to apply to these banks and their limits.

Good Finance Loan Application Without Income Certificate

Good Finance Loan Application Without Income Certificate

With the assurance of Good Finance , you can apply for a loan through Good without an income certificate. If you are not an Good Finance customer, you can open an account and create your application by visiting Good The interest rates of non-income loans that you will use through Good vary between 1.39% – 1.43% . With these interest rates, the maximum amount you can apply for without an income certificate is 30,000 TL .

Good Finance Loan Application

Good Finance Loan Application

As you will understand, Good Finance is a service provided by ABC . With Good Finance you can use your credit at no expense. If you are not a Good Finance customer you can also open an account immediately via the website or mobile application. The interest rates of non-performing loans that you will use on Good Finance vary between 1.39% – 1.49% . With these interest rates, the maximum amount you can apply for without an income certificate is 30,000 TL .

Bank interest on mortgage interest

Yesterday the Europe Bank decided to lower its most important interest rate, the Europe Bank interest rate, from 0.75 to 0.5 percent. A reduction in the Europe Bank interest rate usually affects the mortgage and savings rates. However, analysts expect that now is not so bad. Jude Fawley explains exactly what the Europe Bank interest rate is and why it is expected that the effect of the interest rate cut will be better than expected.

The Europe Bank interest rate is the rate at which banks in Europe can borrow money from the Europe Bank

Effect of Europe Bank interest on savings ratesEffect of Europe Bank interest on savings rates

The reduction of this interest rate means that from now on banks can take out a loan at the Europe Bank for 0.5 percent interest. So that is a cheap way for banks to get money. Many banks translate this to the consumer in the form of lower loan and mortgage rates. In that case, it becomes cheaper for consumers to borrow from a bank. A negative effect for consumers is that savings rates will fall. Because banks can borrow cheaply from the Europe Bank, they need consumers’ savings less badly.

Effect of Europe Bank interest on savings rates

Effect of Europe Bank interest on savings rates

However, analysts expect that the effect on savings rates will be better than expected this time. This is because banks currently need consumers’ savings very much, among other things, to be able to finance the large mortgage debt of the Dutch. This is namely the largest in all of Europe. To finance these outstanding mortgages, banks use the money from savers. However, this savings is not sufficient to finance all mortgages.

For this reason, banks come to fellow banks in Europe and investors. But since house prices have been falling sharply lately, investors and other banks are reluctant to invest in Dutch mortgages. This ensures that banks become more dependent on savers’ money for financing mortgages. As a result, they cannot reduce savings interest rates too far.

Effect of Europe Bank interest on mortgage interest

mortgage interest

A reduction in the mortgage interest rate is also not very obvious. The current crisis on the housing market ensures that banks are not eager to provide mortgages. Falling house prices, the increasing number of payment problems with regard to mortgages and rising unemployment create uncertain situations. Banks run a greater risk that people will no longer be able to pay their mortgages. If this is the case, a forced sale ultimately does not provide the bank with enough to cover the outstanding mortgage debt. Banks translate these risks into a higher risk premium in their mortgage interest.

So it is a bit premature to expect a big fall in mortgage interest rates now. Mortgage interest rates have been falling slightly in recent months, but due to the increasing risks involved in providing mortgages, the fall will remain limited for the time being.

Payday loans & bull

Payday loans

Personal loans

Payday loans are granted to people who qualify according to the standards of each bank and for different individual reasons, such as acquiring housing, paying debts, etc. The interest rate in these cases plays an essential role. Financial institutions are free to offer the interest rate they want, so for these loans the value usually varies.

Things to keep in mind of payday loans

Things to keep in mind of personal loans

It should be taken into account that very short-term payday loans (less than one year) or small amounts, commissions can become very important for the cost of the operation. In fact, there are entities that offer operations at zero interest rates and that achieve profitability through commissions. In this sense, these loans represent an important source of profits and at the same time facilitates people access to money.

Types of payday loans

Types of personal loans

There are 3 types of loans according to the interest rate:

Loans with fixed interest

In this type of loans, the interest rate remains the same throughout the term of the contract, and therefore the total amount of interest to be paid is known from the beginning.

With fixed interest, both the financial institution that has lent the money and the client are exposed to a phenomenon, called interest risk that occurs in the following cases:

  • If interest rates decrease, the client cannot benefit from the decrease, since he can pay a higher price than he would if the operation hired him at that time.
  • If interest rates rise, the opposite occurs, it is the Financial Entity that has been harmed since the client does not affect the client.

Variable interest loans

In this modality, the interest rate is modified throughout the term of the loan based on the evolution of the index or type that is taken as a reference. If you are going to ask for a loan and want to opt for a variable interest, you must compare the offers and those planned in the future, both from the point of view of the margin or difference and the index or type of reference chosen (it may be the Euribor), due to which large differences can occur between them.

Mixed interest loans

These loans combine periods of fixed interest and variable interest. In this way, the benefits of these two modalities are obtained. For example, it is possible to find a loan in the market in which a fixed interest rate is obtained for two or more years after which a period in which the rate is variable starts.

Facts about Unsecured Loans

As discussed earlier, an unsecured loan is legitimate to be used as a solution for fast funding needs. However, some careful consideration is needed to guarantee the return.

For your consideration, let’s look at 10 facts about unsecured credit:


Doesn’t Need a Guarantee

Lots of Additional Costs

It’s called unsecured credit, of course, the first fact is that this credit does not require collateral or collateral in its submission.

Therefore KTA is also called unsecured loan , because this product includes high risk credit products due to the absence of collateral or collateral for loans. 

This is different from other credit products such as KPR or Multi-Purpose Loans (KMG), which certainly require collateral to be used so that funds can be disbursed.

This lack of obligation to include collateral makes unsecured loan an attractive choice for those who need cash loans in a short time.


Loan Amount (Loan Ceiling) Is Not Too Big

Loan Amount (Loan Ceiling) Is Not Too Big

Because the risk of the bank in loans without collateral tends to be large considering that there is no guarantee or collateral that is the bank’s hand in providing credit, the loan ceiling provided is generally not too large.

This is done to minimize possible losses. For example, BNI provides the following loan ranges:

  • Minimum loan amount: 5,000,000 rupiah
  • Maximum loan amount:
    50,000,000 rupiah (if payroll is not via BNI)
    100,000,000 rupiah (if payroll via BNI)


Interest rates per year are quite high

Interest rates per year are quite high

Because there is no collateral that guarantees your loan or credit, the bank generally minimizes the risk by providing a high enough interest rate.

The amount of interest charged varies for each bank in the range of 10% to 23% per year. Types of interest rates charged on the unsecured loan is a fixed interest rate (fixed) so that its value will always remain in each period.

Interest costs will be calculated according to the amount of the loan agreed before deducting the provision fee.


Tenor tends to be shorter


Generally, the tenure of the unsecured loan is shorter when compared to loans or loans with collateral (collateral). The maximum tenor that applies to unsecured loan is usually 60 months or 5 years.

Well, you should always check the tenor before deciding to take unsecured loan. Why?

Because the tenor affects the installments. You need to measure your ability to pay according to the applicable tenor.


Terms of Submission are Easy

Terms of Submission are Easy

As mentioned earlier, Personal Loan (unsecured loan) is a loan product provided by financial institutions such as banks.

Because it involves the issue of lending and borrowing that is legal in the eyes of the law, of course there is an agreement that regulates all the terms and conditions that apply to both parties. When compared with other types of credit, the requirements for applying for unsecured loan are indeed easy. This is intended so that submissions can be processed more quickly so that loan funds are quickly liquid and can be used immediately.

In addition to the document requirements, there are usually other terms assessed from your person. For example:

  • Your credit score must be good and the credit category is smooth.
  • Have clear staffing or professional requirements.
  • Has a minimum income that matches the requirements, and there are still many other conditions that vary in each bank.


Funds can be used as needed

Funds can be used as needed

Different from some other types of credit, you can use an unsecured loan for any need. An unsecured loan is generally used for consumer needs that require fast funds, including:

  1. House renovation
  2. Wedding
  3. Treatment
  4. Venture capital

This is certainly very different from investment credit or working capital loans from banks. Working capital loans, for example, must attach financial statements of businesses to be financed, business licenses, business taxation, and so on.


Lots of Additional Costs

credit loan

Don’t be surprised when you receive a loan, because the amount is definitely less than the agreed amount. Why is that? This can occur because of additional costs that may arise when you apply for unsecured loan.

For example, fees or administrative fees will be deducted directly from your loan ceiling. These fees vary in size depending on the type of bank but generally range from 1% to 4% of the loan ceiling.

In addition to provision fees, there is an annual fee. Not all banks impose annual fees on their unsecured loan, depending on the policies implemented. But if there really is, this annual fee is charged to you every year and usually the value ranges from 1% to 2% or in a certain nominal value (for example 100,000 rupiah per year).


Can’t Be Late to Pay, But It Cannot Also Be Accelerated


Well, this needs to be considered if you often forget to pay installments. Late fees are fees charged to you if you make late monthly payments. The magnitude varies but usually changes depending on the time of delay. Thus, always mark your calendar to pay the exact amount and on time!

However, that does not mean you can also pay off unsecured loan faster than the agreement. This is because banks generally impose accelerated repayment fees.

In other words, you will be fined if you repay the loan faster than the agreed tenor of the loan. The amount varies again, but ranges from 5% to 6% of the remaining loans.

Then consider carefully before you choose to pay off the unsecured loan before the deadline, do not let the penalty be greater than the remaining loan plus interest.


Using Flat Interest Rates

Loan Amount (Loan Ceiling) Is Not Too Big

All unsecured credit products or unsecured loan in the bank apply a flat interest calculation scheme. The type of interest rate that is considered the simplest and easiest calculation compared to the other 2 types of credit interest.

On flat rate loans, the calculation of the loan ceiling value and interest will be calculated proportionally according to the tenor or the length of the loan.

The calculation formula used in flat interest rates is as follows:

Interest per month = (P xixt): jb



  • P = loan principal
  • i = interest rate per year
  • t = number of years of credit period
  • jb = number of months in the credit period


This method of calculating interest does not take into account the amount of debt that you have paid. Interest is calculated always based on the total debt principal at the beginning of the loan.

The monthly installments are always fixed. Because of the calculation method like this, flat flowers appear as the most expensive interest count.

Should I transfer my mortgage credit at this time?

Many clients ask me if this is the right time to request the transfer. They think that in a few months they will lower rates a little more. I will tell you the analysis I do with them every time they ask me “Should I transfer my mortgage credit?

I transfer my mortgage credit or I do not transfer my credit …

I transfer my mortgage credit or I do not transfer my credit ...

That is the question. Many wonder about the convenience of making the request at this time. And is not for less. They have been attentive to the news about the financial sector and the real estate sector.

Analysis of the real estate sector

The first consideration I make with my clients is the analysis of the economy, specifically the real estate sector.

Since last year, construction has become a strong government issue. The sector is a source of employment, engine of the economy. But, in addition, two events moved the dynamic: the construction of the sports stages for the Pan American Games and, with special emphasis, the reconstruction of the damages caused by the coastal Child.

During this period, we have witnessed the birth of new subsidies – the last one for green homes – and new incentives for buyers, such as the one that will encourage real estate sales from leases or the reduction of the initial fee for the purchase of second homes. .

Indeed, the sector has responded and today a sustained growth trend is expected for the rest of the year.

Rate Analysis


The second part of the analysis is about rates. The financial sector understood the signals of the Central Reserve Bank of Peru and the government. Rates fell and credits were energized. In the last seven years, rates have fallen on average three points. Three points is a lot of money.

A good cycle

Since 2003-2004 we did not witness such a favorable trend. In fact, specialists say that if the trend continues, as expected, we will reach the same levels of those good years for the real estate sector.

Now how does the good news affect you?

Good behavior of real estate sales has an important effect on the price of real estate. Upward, in most cases. Those who bought a few years ago have done a good business. And those who acquire now, too.

And, of course, the second effect is on the cost of credit. A few years ago, the rates were higher. The cost of money was higher. Many credits were negotiated at rates of more than 10%. Many have paid seven or eight years and the best years of the total credit period are missing. The question is: at what rate do you want to pay it. To the same one that you negotiated a few years ago or to a new one, a lower rate, like the one that the banks offer today.

Most of the evaluations we carry out in our work show us that those who request mortgage transfers from a good business: they lower the interest rate, lower the monthly fee, new tastes and new investments are allowed.


In that order of ideas, expecting a drop in fees to apply for your credit may be more risky than doing it now.

Are you ready for a transfer?

Are you ready for a transfer?

In seven, eight years, many things happen. Change of work, change of salary, change of marital status. New debts, more consumption with your credit cards. Even today, they are likely to represent a lower risk as a client for any financial entity. All that affects your credit.

Our recommendation is to study your business. I compare it to the scheme that many companies practice in their logistics and purchasing departments. They evaluate from time to time if they can get better prices with other suppliers. It is the same case with your credit, from time to time you must analyze if it is convenient for you to transfer your mortgage credit. This is the time to check if you can access a better rate and end up paying less money for your credit.

Is an appraisal necessary for the transfer of mortgage credit?

One of the requirements for the transfer of a mortgage loan from one bank to another is to appraise the property, that is, to contract the services of a professional appraiser to establish the price of the property.

This happens even in relatively new properties!

This happens even in relatively new properties!

It seems easier to set the price by looking at what goes on around the property. For example, the builder is still selling real estate, just ask him. There are new projects in the area and we could find out how the square meter is. Or even the price in the deed would suffice. After all, it has been a short time.

Why do you need a new appraisal?

Why do you need a new appraisal?

What business do you want to do with the property? The purchase of mortgage credit. That is, you are going to request that a bank lend you money and offer your home as a guarantee of payment.

The bank requires appraisal

The bank requires appraisal

The question asked by the bank is: in what state is the guarantee offered by this client in exchange for the money borrowed? Does it comply?

It may seem obvious that if your house is new (less than five years old) it is in good condition. But not all owners are always as careful as you.

    • They make reforms that alter the original design, eliminating, for example, natural lighting or air flow in some spaces. Sometimes they affect the comfort of spaces.
    • They quickly determine floors, windows, doors, bathrooms, kitchen and closets.
    • They change the original finishes, modifying the initial price.
  • They make changes that add areas such as a study, a terrace or a room.

In addition, situations in the environment can also affect the price and you don’t know it:

    • Track construction
    • Construction of parks or shopping malls
    • New neighbors who value or devalue the area.
    • Change of use of a neighbor as a warehouse or an old school.
    • Change of municipal regulations.
  • Fee for the maintenance of urbanization.

Banks hire the best appraisers. The reason is simple: if the price is adjusted to reality, the guarantee is safer. And the best appraisers are able to apply the rules of the National Appraisal Regulation (Ministerial Resolution 172-2016-Housing) and the formulas, which are worth saying, are many. And, perhaps this is the most important thing, you have a great knowledge of the city, of future works, and are able to establish its impact on the value of real estate.

Currently, it may seem better to avoid the cost of an appraisal. But it is very useful. If you were negotiating the purchase of a good, would you not be sure of the price? It is not enough to see the facade, the state of the elevator, the view or the kitchen. The age, and above all, what is to come in the area, determine whether the price will fall or rise in the future.

That is why it is established by rule that it is mandatory for banks to request pricing.

In the case of brand new houses or apartments, the appraisal can be estimated to be equal to that of the sale. It is clear: it is the builder who is estimating the impact of the environment on the real estate!

But, when you want to transfer your debt to another bank, that price should be revised. Otherwise, the bank would be missing the law. You must make an appraisal in all businesses that imply a mortgage guarantee.

But not only the financial institution will demand it.

The insurer requires the appraisal

The insurer requires the appraisal

The insurer needs to establish the exact value to determine the viability of the insurance and its cost.

Do you remember that other requirements for the transfer of your mortgage loan are all risk and lien insurance?

The insurer must have the fair value of the asset to answer for the correct value in the event of an accident. The price of the appraisal should reflect the renovations of floors, woodwork and improvements in the kitchen!

Of course, it makes no sense to invest in a property with a mortgage loan and not have a good lien insurance. Why insure for less value? It could be causal for not paying insurance just when it is most required.

As you can see, the ideal for all parties is to know the right price, to make the appraisal.