COVID-19 loans, a line with preferential conditions

 

It is evident that we are living in troubled times, we are facing an exceptional situation that has never been experienced in our country. We are monitoring the evolution of the COVID-19 and carrying out constant updating and adaptation as the situation evolves.

That is why today we want to tell you about all the measures that we have applied in our entity. In addition, to help make this situation as bearable as possible, we also launched a line of loans with special conditions. 

Special loans to face current difficulties

Special loans to face current difficulties

We understand that this season will be difficult for everyone, especially for small entrepreneurs, the self-employed or families whose income is reduced. That is why we have launched a special package of loans with preferential conditions. 

Now you can access our Impact Financing COVID-19. We have reduced our management costs and adjusted the conditions of employment to ensure that no one is left behind.

Measures before COVID-19

Measures before COVID-19

These days, the health of our workers, clients and associates is our main concern. That is why we have activated a protocol of action before COVID-19. 

  • We encourage teleworking for all our employees. 
  • We assist our collaborators through the usual telephone and online channels.
  • We have restricted attendance at events and business trips to all of our associates. 

For those who cannot telework we have implemented a series of measures in our offices in compliance with current legislation: 

  • Provision of hydroalcoholic gels to facilitate hand hygiene.
  • Respect of more than a meter of distance between employees.
  • Daily sanitation and disinfection of all the elements of the offices.

So that the maximum number of people can access them, all associated expenses will be reduced to a minimum. Get in touch with us through our website or by phone and we will tell you everything you need to know. 

We adapt to your needs, now and always

We adapt to your needs, now and always

We have been offering alternative financing solutions on the market for more than 15 years, adapting to the particular situation of each territory. We are fully aware of the current seriousness, but for that reason we do not stop trusting to overcome, once again, this moment of adversity. 

We will continue to work for and for our clients and therefore we trust that, with everyone’s help, we will overcome the current situation.

Discover Government Agency loans early redemption mortgage loan

Pay off your mortgage early loans

Pay off your mortgage early loans

Over time, it is quite common for an ongoing mortgage to become too expensive or, more simply, not very convenient compared to market offers. Situations in which it may be convenient to pay off the loan. In this case, employees and pensioners can take advantage of particularly favorable conditions by choosing Government Agency early repayment mortgage loans.

It is a product designed precisely to meet the needs of those who wish to extinguish, totally or partially, an ongoing mortgage loan. Government Agency early repayment mortgage loans can only be requested by employees and pensioners belonging to the Social Institute Public Employee Management. However, it is possible to pay off the mortgages signed by the Social Institute member and by the spouse.

But what are the requirements to be met to access Government Agency early repayment mortgage loans? Since they fall into the category of multi-year loans, loans for the repayment of the loan are accessible only to those who are registered in the Social Institute credit fund (Unitary management of credit and social benefits).

In order to access credit, the applicant must also be able to claim 4 years of payments from the aforementioned Management. A length of work, useful for retirement purposes, of not less than 4 years is also required.

Amount and repayment of the loan

Amount and repayment of the loan

Now that we have defined what are the requirements to be met for access to credit, let’s move on to the repayment terms. The first thing to clarify regarding Government Agency early repayment mortgage loans is how much you get.

The sum that can be financed is defined in the application by Social Institute in relation to the amount still owed to the bank. In other words, it is possible to obtain only the sum necessary for the extinction or reduction of the mortgage. Therefore, no additional liquidity can be obtained.

The loan is repaid with a ten-year amortization plan characterized by constant monthly installments. Installments that are deducted directly from the payee’s paycheck. The interest rate (Tan) is fixed at 3.5%. Administration fees are calculated at a rate of 0.5% on the gross loan amount.

Social Institute loans forms and application

Social Institute loans forms and application

As regards the application, this must be sent electronically to Social Institute. The request must be drawn up on the appropriate form, found on the official Social Institute website. The following documents must be attached to the loan application.

  • Financing act relating to the mortgage to be paid off;
  • Title of ownership of the property subject to the loan;
  • Self-certification of the applicant’s family status;
  • Declaration issued by the lender in which the amount necessary for the total or partial repayment of the mortgage loan is certified.

In the aforementioned declaration, the institution must also indicate the data of the property subject to the mortgage. It must also indicate which title the loan was granted to.

Guide To Small Four-year Government Agency Facilitated Loan

The advantages of the small four-year 

The advantages of the small four-year 

Small loans are low-value loans dedicated to those who need small amounts with which to face unexpected expenses or for specific projects (travel, medical treatment, etc.). Numerous lenders offer small loans, but there is no offer on the market that is comparable to the four-year Government Agency loan.

This is a credit line granted by Social Institute through Public Employee Management, a section used to administer ex Government Agency services which was absorbed by Social Institute in 2012. Small Social Institute loans ex Government Agency are accessible only to public employees and pensioners enrolled in a specific Credit Fund (the Unitary Management of credit and social services).

Small loan rate, amount and online application

Small loan rate, amount and online application

The small four-year loan allows you to obtain a sum equal to eight months of salary or pension received by the applicant. In the event that the applicant has another loan in progress, the maximum amount that can be financed is equal to four months of salary or pension. The interest rate (Tan) is 4.25% and a 0.5% rate is applied to the gross amount of the loan for administration costs.

The amortization plan for the four-year Government Agency loan (as can be seen from the name of the product) has a duration of four years. It provides for monthly installments. In addition to the charges mentioned above, the beneficiary must pay Social Institute a premium for the Guarantee Fund. The value of the prize is defined at a variable rate based on the age of the applicant.

The loan request must be sent electronically using the Social Institute online systems. Specifically, pensioners can send the application autonomously through a web application accessible with Pin Social Institute authentication, or by resorting to the assistance of intermediaries authorized by the institution. The procedure is different for civil servants in service, who must contact the Administration they belong to.

Early repayment of the loan is allowed at any time, while renewal is possible only on condition that a minimum amortization period has elapsed. The public employee or pensioner who has an Government Agency four-year loan can in fact request renewal after having paid the amortization installments for at least 24 months.

Inheritance loans – what you should know?

 

Acceptance of an inheritance is the act by which a person agrees to receive movable or immovable property from a deceased. In these cases, both goods and property and debts are accepted. The acceptance of inheritance carries a series of administrative expenses and inheritance taxes. Until all these payments are made, the property, whether real or economic, cannot be inherited.

What are inheritance loans?

What are inheritance loans?

Inheritance loans serve to be able to meet all the expenses that inheritance entails and thus not have to give up your family’s assets and property.

Many people have to end up giving up the property they have to inherit for not being able to meet all these payments. Thanks to inheritance loans, you can access the amount you need in advance, meet all payments and inherit without having to worry about it any more.

How does the loan process to accept inheritances work?

How does the loan process to accept inheritances work?

The process of applying for a loan to accept an inheritance is usually not much different from that of another loan application. The requirements to be met will be the same as in any other loan: demonstrate a stable source of income, have a clean credit history, not appear in delinquent files, etc. Normally checking all this documentation usually takes a while, although it will depend on each bank.

The process to apply for an inheritance loan is very simple. You can make the request through our online form or by phone. In less than 24 hours from the request we will present you a proposal for your specific case. When you accept it, an appraiser will appraise the presented property and we will schedule to sign it before a notary. You will receive the money in your account the same day of signing, without the need to change banks.

Is it possible to ask for an inheritance loan without collateral?

Is it possible to ask for an inheritance loan without collateral?

Depending on whether you request the loan from a traditional bank or a private financial institution, you may be asked for extra guarantees or not. Most banks tend to be very strict with the requirements for granting loans and this means that in the event of not complying with them, extra guarantees are requested. In this article you can see these requirements more widely.

The essential requirement is that you own a flat, house or premises. Its appraised value is sufficient guarantee so that you can access our inheritance loans. So we will not give importance to your credit history or the fact that you have a payroll or not, for example.

What is a Debt Consolidation Loan?

Debt consolidation is a method that works to help people consolidate all of their debts together. The debt that a person has to pay off will be combined and the borrower is left with only one payment to make monthly.

Two things to look for to apply debt consolidation.

Two things to look for to apply debt consolidation.

There are two things that a lender will look at when you want to consolidate your debt. First, the borrower must be able to get a high enough interest rate from the new lender to cover the amount of debt that is being consolidated.

You can do this by sending your current lenders a letter stating that you want to consolidate your debts. They will probably not approve you for a new loan because they know that you are up to no good and they want to clean up their reports and not tarnish your credit.

Secondly, the new lender will look at your credit and see if you have a history of late payments or high interest rate debts. If you have several credit card accounts that are a few years old, then the loan that you are applying for may be denied.

You will also be denied if you have bad credit and have a history of making too many loans in a short time frame. You could also have to wait for a while before the new loan is approved. For example, if you have been trying to consolidate your debts for three years now, then it could take you four to five years before you are approved for a new loan.

A loan that best suits you.

A loan that best suits you.

When you first start looking for a loan that will work for you and your current financial situation, you may feel overwhelmed by all of the options that are available to you. If you already have some debt, then you may want to take it upon yourself to figure out which is the best way to get out of debt. You should only use your own judgment when choosing a company to work with.

A large percentage of the companies that are on the market today charge extremely high interest rates. It is important to look for companies that are willing to offer a competitive interest rate. They may also be willing to lower your payment so that you will be able to afford to pay off your debt faster.

Some companies will come to you and do the negotiation on your behalf. You may be required to set up an account with them so that they can apply for the loan that you want. Others will be able to get it directly from the bank or loan company where the loans have been closed.

You will need to keep track of the progress of your loan and the progress of your borrowers accounts. You will be asked to prove that you are in debt relief so that they can make sure that your account is really closed. You may be asked to have a credit report pulled for them to see exactly how much debt you are carrying and to see how much money you make.

Reasons why people ignore a debt consolidation loan.

Reasons why people ignore debt consolidation loan.

One of the biggest reasons that people ignore a debt consolidation loan is because they think that the payoff will be all the money that they need to pay off their debts. They tend to overestimate their income and underestimate their expenses. Once you have these figures at hand, then you can make a wise decision.

When you have your consolidation loan figured out, you will also have to deal with different interest rates. When you are using a loan to consolidate your debts, you will pay the same rate for your credit cards as you do for a mortgage. This will reduce the stress of having to change your payments every month.

If you are in need of debt consolidation, there are many different ways that you can go about finding a loan. Remember that you do not have to live with the burden of your debts. You can find a loan that will allow you to pay off your debt quicker and leave you with more money to spend on your dreams.