Payday conditions, In order to receive a loan from Orange Credit , a person should meet the following conditions:have a steady income; be at least 20 years old; not to be entered in debt registers, not to be in arrears with payment of financial liabilities.

Time to receive payday pay

The “Woman with cash” website evaluates the loan application within several minutes. If the application is approved, you will receive the money expressly . In other cases, the time may be extended to two business days. Extension of repayment

On the “Women with cash” page you can find information that the extension works on the basis of a refinancing loan (another service from the Friendly Finance group repays the liability, but a new one is created, formally towards another lender). In the event of delay, the lender may charge interest for delay (twice the sum of the NBP reference rate + 5.5 percentage points), as well as take other measures to repay the loan. 

21 days for bank decision 

The Mortgage Act also specifies the maximum time in which the bank must provide the customer with information about the credit decision taken. Pursuant to the regulations, the analysis of the application may take up to 21 days from the submission of a set of documents and after that date the credit decision must be forwarded to the client. This is new because currently the waiting time for consideration of the application is an internal regulation of each bank. Although in most cases market practice shows that these times are much shorter, however in some institutions the decision to grant a loan will have to wait longer.

Transparent advertisement 

The new regulations also regulate the principles of advertising loans. All information provided should be unambiguous, understandable and visible. The published values ​​(e.g. interest or installment) should be calculated for a representative example. It is defined as a loan that will be offered on the same terms to at least two-thirds of the borrowers in the bank’s portfolio, taking into account the average loan period and the total loan amount.

Here are a bunch of tips for you who are going to negotiate a mortgage. Maybe some of the stuff you read here gets stuck and becomes something you’re craving to test. Hopefully, the tips can also help you get as good a mortgage as possible.

The very first thing to do is to investigate what the market looks like

This is something you have to do before you even begin to negotiate with any lender so that you really have control of the situation.

Information about the different lenders ‘interest rates and other things you can find, for example, on sites like this, the lenders’ own websites, in newspapers, etc. If you also know people who have obtained mortgages in recent times, you can talk to them to find out what opportunities they had to bring down the prices.

Your argument

If you are in control of the situation and should contact a lender, the next step is to consider your arguments in order to bring down interest rates. Here are some examples of just such arguments that hopefully can help you. Not everyone is suitable for everyone and there is nothing to say that they succeed but they may very well do it.

Interest rate a ceiling

Tell the lender that the interest rate they have in their tables should only be seen as a ceiling. The proposal you want to get from the bank should be lower in your opinion. A good thing is if you can give examples of other people who received a lower interest rate from the same lender.

Good credit

If you have a good credit rating, you should pass this on to the lender. Show that you have a good and safe job. If you are attractive in the labor market, this is also a big plus. A good and stable salary increases opportunities for a good loan.

Save money

If you have previously saved money regularly, this is something the lender will be happy about as it shows that you are a person who has a good control of the finances. In the eyes of the lender, such people are generally better at managing the payments of loans.

Fidelity

If you have a previous savings, salary account or any other form of banking service with the lender, you can emphasize that the plan is to keep them there if you get good loan terms. If you contact a new lender, you can instead say that you intend to move all of this to that particular lender if it provides good conditions.

If your bank wants to keep you, they must also treat you well, for example by giving you a little discount on the mortgage. However, if the argument does not work, you should not refrain from being unfaithful, but then you only have to move everything if you get better conditions in another place. If your current bank doesn’t care about your allegiance, you shouldn’t feel that you need to be true to them.

Amortise

A lender doesn’t really want you to pay off a loan faster than it is supposed to, as they won’t make as much money then. But if you propose this, there is a chance that they feel compelled to offer good terms when you show that you intend to take responsibility for your loan in a good way.

Negotiate the valuation

Should you increase the loans on the home you already have, it is common for the lender to want you to pay for this valuation. However, if it is certain that your previous loans do not exceed 70% of the market value, you should not pay such a valuation. If so, the lender should pay.

associated costs

Surrounding costs such as setup fees or other fees can often be bargained for. If it is a large loan, the lender will receive large income anyway and then there are good opportunities to succeed in getting rid of these relatively small costs.

Bonded loans

Should you obtain a mortgage with a fixed interest rate, you have a better negotiating position than if you intend to take one with a variable interest rate. This is because it is more difficult to move a loan with a fixed interest rate. A mortgage with a variable interest rate can be moved at any time to someone else. If you have a fixed interest rate, the loan can only be moved smoothly when it is time for a new term. It is also possible to transfer a fixed loan at other times, but then you will have to pay an interest payment.

Banks today provide numerous loan options that are available to almost all customers with sufficient creditworthiness. However, there has been a tendency in the market for several years, which clearly goes to provide special loans for certain customers. These special customer groups, for which banks are increasingly offering special loans, include, for example, students, trainees, civil servants and retirees. However, retirees in particular are often in a difficult position as loan seekers, because there are numerous banks that are not willing to lend to older borrowers over a certain age. On the other hand, there are also lenders who have no problem with it and even explicitly have a loan for retirees on offer.

Why do pensioners often find it difficult to get a loan?

In principle, each credit institution is required by its customers to check the creditworthiness of a potential borrower before receiving a loan. After all, the bank usually does not lend its own capital, but the money that comes from the deposit area, that of other customers. Therefore, almost every credit institution has certain requirements that borrowers must meet in order to obtain a loan.

First of all, credit institutions use the following factors to check whether the customer has sufficient creditworthiness:

• No negative entries in the credit rating
• Sufficient income
• Collateral (optional)

In addition to these general factors, it is important for many banks that the loan seeker is not too old. Statistically, of course, the probability of dying increases with age. For the banks, this means that, statistically speaking, a sixty-year-old borrower is naturally at greater risk of default than a thirty-year-old borrower, as it is more likely that the client will die during the repayment period.

It is precisely for this reason that retirees in particular have difficulty obtaining loans at many banks. The income is rarely a problem, because hardly anything else than income as safe as the statutory pension or a company pension, which the customer has. Nonetheless, retirees relatively often encounter rejections when, for example, they want to apply for a car loan or a normal installment loan from their bank.

Worth knowing: pensioners often have problems with borrowing

In practice, it is relatively common to find that older people or retirees from the age of 65 or at the latest 70 years old have the problem with many banks that they no longer have a loan. The significantly increased probability of default of the loan due to the older age is usually mentioned as an argument why no more credit is awarded.

The loan for pensioners as a financing solution

Fortunately, it is not all banks that are, from a certain age of the customer, no longer willing to lend. Some banks even go one step further by not only giving older customers the chance to get a loan, but also explicitly offering special loans to retirees. Most of these loans are ordinary installment loans, the only difference being that they are specifically given to clients of retirement age. Thus, the loans for pensioners are part of a group of installment loans that some banks provide for special customer groups, such as:

• Credit for students
• Credit for apprentices
• Credit for civil servants
• Credit for low-income earners

Whether the bank now offers a special loan for retirees or a general installment loan, which can be taken even at a ripe old age, the borrower is usually completely irrelevant. It is only important that he receives the required funding and that the bank offers fair conditions. In most cases, pensioners with a statutory pension and a possible additional occupational pension have a very secure income, which, for example, can no longer be deducted, in contrast to the wages or salaries of an employee. In addition, some retirees have various collateral that they can offer the bank in return.

Our tip: Inquire about a loan for retirees

While there are many banks that no longer provide loans to retirees, on the other hand, there are quite a few offers on retiree loans. Therefore, our tip is that you should specifically inquire about a loan for retirees, which is certainly provided by some banks.

How does the loan for retirees work?

As explained in the previous section, the pensioner loan is not, in the strict sense, a special type of loan. Instead, most banks that provide such a loan to retirees offer it as a variant of a standard installment loan. This in turn means that the whole process of credit for retirees is comparable to that of a classic installment loan.

The following step-by-step guide will help you understand which steps to take on the way to crediting the loan amount in your checking account:

• Comparison of offers
• Selection of the appropriate loan offer
• Applying for Senior Citizens Credit (Online)
• Bank checks credit rating and sends credit agreement
• They sign the loan agreement and send it back to the bank
• Examination of the documents by the bank
• Loan amount will be credited

In the best case, only a few days pass between your loan request and the credit on your checking account, and you can then have the loan amount you want. Sometimes it is recommended that you provide the lender with existing collateral, because these can improve your credit rating once again. However, there are also some retirees who still have a negative credit rating entry. In this case, it is usually extremely difficult, even if the bank offers a special loan for retirees. But even in this case, we have the right solution for you.

Credit for pensioners without credit rating-request

The above-mentioned solution for all retirees who have a negative entry into the credit rating is a loan for retirees without credit rating, which is a loan provided by the lender also on condition that the retiree still retains has stored a negative feature in the credit rating. Through our website you also have the opportunity to receive such a loan for retirees without credit rating. In doing so, we go one step further by conducting a detailed and individual credit comparison for you.

This comparison should not be confused with a pure loan calculator, because not only are individual conditions compared to us, but we include some of your wishes and selections in order to find the appropriate offers on this basis. As we cooperate with a large number of banks, these include some credit institutions and other lenders who are willing to take out, for example, a loan for retirees without a credit rating request. However, the loan for the elderly is far from the only type of loan for which you can request a detailed comparison from us.

In addition, this also applies to the following types of loans:

• car loan
• Credit for self-employed
• installment loan
• Real estate loan
• Loan without credit rating

If you have a negative entry in credit rating, are 65 years or older and would like to take out a loan, please contact us. You have the opportunity to express your wishes and ideas regarding the loan, which we are happy to record and on this basis for you to make an individual, detailed and of course free comparison.

Our tip: Compare the offers on loans for retirees

Our tip is clearly that before choosing a loan for retirees, you should take the time to compare the offers. If you do not want this, we will gladly take this work off, because with us you can order a free, non-binding and detailed credit comparison.

Do not choose too high a loan amount

Despite the fact that you may still have the option of obtaining a loan from some banks and even applying for a loan for retirees without credit rating, you naturally have a high degree of personal responsibility for the repayment of the loan. This means, in particular, that you as a seventy-year-old retiree, for example, should not take on too much loan money. You will hardly be able to repay, for example, a real estate loan over 50,000 euros reasonably safe during their remaining lifetime.

Therefore, you always have the task of first checking for yourself which loan and thus which loan rate you can afford at all. Surely it would not be right to calculate with a lifetime of another 20 years at the age of 70, as this is unlikely. Here, you definitely have the task of carefully calculating and only accepting loans that you can probably repay. However, if this is the case and they need only a loan amount of, for example, 3,000 euros for a major car repair, but on the other hand have a good pension of, for example, 2,000 euros, speaks certainly certainly nothing against taking a loan for retirees.

Conclusion to the credit for pensioners

Loans for retirees are not to be found in too many banks, but there are definitely such offers. Thus, even as a senior loan seeker you still have the chance to receive the required funding. If you do not want to go looking for yourself, you are welcome to use our service. We carry out for you an individual and detailed credit comparison also in the segment of loans for pensioners. Even a negative credit rating statement is not an obstacle as we work with some lenders willing to lend to retirees