Liquidity loans: the characteristics
Personal liquidity loans are a form of financing on the rise. To play in their favor, the ability to respond to an increasingly pressing need: the coverage of urgent expenses. The economic crisis, in fact, has brought about situations characterized by an increasing difficulty for taxpayers in reacting to sudden expenditure items, such as paying a tax too expensive or, very trivially, a medical expense or a dentist’s bill.
So the characteristic of personal loan is speed. They are generally disbursed, in the face of an often very synthetic investigation phase. As a result, the amounts are very small. Nothing to do with mortgages: there is talk of a few thousand USD, at most a few dozen.
The guarantees offered are generally not stringent, therefore it is a rather accessible loan. Also because – and this is a peculiar feature – the purpose of use is not required, if some exceptions are excluded.
Some examples may help you understand the real convenience of personal liquidity loans. Let’s imagine a loan of 10,000 USD, to be repaid in seven years. Rataweb offers an installment of 158.87 USD; Fiditalia presents one of 158.36 USD. The rate, in both cases, is variable. The fixed rate variants, as it is logical, are more demanding from the point of view of the rates applied (however providing the guarantee of a constant installment).
Mortgage liquidity loans
In the panorama, however highly composite, of personal loans, a particular mention goes to personal loans for mortgage liquidity. Their peculiarity consists in the need to affix a mortgage guarantee. In a nutshell, a property owned is placed to protect the investment.
This is necessary since the liquidity paid is generally greater than that of traditional personal loans, and is very close to the mortgage. In short, this solution of access to credit is comparable to a mortgage but (as per tradition for personal loans) it does not require an explicit declaration about the purpose of spending.
Personal loans for mortgage liquidity, while on the one hand offer the advantage of a far greater amount, pose some disadvantages. First, the rates are far above average, and generally fixed. This happens because, in truth, the risk of insolvency is always present, also due to the failure to declare the purpose.
Another feature, which can be considered a merit or a defect depending on the point of view, has to do with the refund. The durations can be exceptionally long, even 40 years. The minimum, however, is generally ten years.
Fast online loans
Online personal loans are loans that are requested and disbursed directly through the presentation of the documentation useful for obtaining the liquidity requested also directly online. Personal loans often useful to face an unexpected expense or for the purchase of goods or services.
There are really many customers who prefer to apply for a personal loan online, allowing you to search for the best loan offer by using comparison sites useful for comparing the wide range of financial products offered.
In fact, it is easy to get an online loan quote, just that the customer comfortably from his PC station provides all the necessary documentation to obtain the required loan.
By filling out forms and sending the required documentation, it is easy to streamline the entire bureaucratic aspect in order to speed up both the request but above all the provision of liquidity, without necessarily having to go to a bank counter.
There are several comparison sites on the web that allow you to view all the financing offers in the financial landscape and thus choose the solution tailored to the customer who needs access to credit in a simple and above all fast way.
To request an online personal loan quote, the applicant must provide every useful document, from the tax code, to the work history and above all the sum and duration of the amortization plan so as to be able to find the most suitable solution for the user.
In addition, to obtain an online loan, it becomes essential that the user indicates the purpose of the loan, indicating not only the exact amount useful to the user but above all how the required liquidity will be invested.
Before signing any loan required to choose among the best offers, it will be necessary to also consider the ancillary insurance policies that may be linked to the contract, for the request for financing in order to guarantee greater security.
Online personal loans immediate outcome
Only after having forwarded all the documentation necessary to obtain the requested loan will the bank itself send the feasibility result to the customer. Positivity or negativity of the outcome will depend on the customer’s history, a check that can be carried out by the same bank at the Central Credit Register, in order to obtain any possible information on the customer requesting a loan.
Loans without guarantees
Among the small online personal loans it is possible to obtain financing even if not against the presentation of the due guarantees useful for accessing credit.
Among the main types of unsecured loans that are granted through alternative guarantees, we cannot fail to mention the changed loans.
Or a type of financing that can also be requested by housewives or bad payers, to obtain small amounts without the guarantee of a guarantor but only by repayment through monthly bills.
In recent years, mainly due to the serious economic crisis, the requests for loans to meet unexpected expenses have increased considerably, there are numerous customers who turn to their bank to request more loans at the same time, but how can loans be requested with other loans in progress ?
There are many doubts raised by customers who are already paying the installments of a first loan on the possibility of being able to obtain useful liquidity through a second loan request, despite the fact that further loans are in progress.
Too often the request for a second loan is dictated by the need for greater liquidity, or liquidity needs linked to a new purpose. But is it really possible to apply for loans with other ongoing loans?
Personal loans with other ongoing loans
The possibility of receiving the requested loan will necessarily depend on the credit history of the applicant, only after a careful analysis of the financial situation of the debtor and the regularity of the payment of the installments of the amortization plan can lead the bank to accept or reject the credit request.
The first fundamental point that leads to the denial or not of the loan concerns the customer’s income, the presence of a demonstrable income both as an employee, pensioner or self-employed must be high enough and in any case able to be able to promptly pay the installments of both funding required.
The criterion used to define how much the income should amount to be able to obtain a double loan is the same that is used to obtain the disbursement of the first loan, that is, each installment cannot necessarily exceed 20% – 25% of the same income.
Succeeding in obtaining loans with other ongoing loans is possible but it depends exclusively on the relationship between the income available to the customer and the accumulation of the installments to be sustained monthly, but not for the number of loans in progress.
Certainly a possible report to the Risk Center could prevent the customer from obtaining the requested loan, as incorrect behavior with unpaid or late installments means that the requested amount can be denied all the more reason for the request of a second. loan.
This is why at the time of the request for a second loan, in addition to the motivation related to the purpose of the loan, the customer’s credit history will be analyzed, if there have been omissions in previous payments or delays, paying more attention especially to the most recent events.
The granting or not of the financing requested regardless of the ratio calculated between the sustainability of the installment and the income, will necessarily depend on the risk-taking attitude applied by the bank or on the basis of certain periods, which is why it is essential to submit the request for numerous estimates also online to be able to obtain the loan requested.