Monthly Archives: August 2019

Mortgage credit: New alternative allows AFP funds to be used to raise the initial installment – Loans

One of the most difficult parts to acquire a home is to raise the initial fee. This is because it must represent at least 10% of the value of the property, which often escapes the amount saved by the anxious buyers.

It means that the value of the home can be 150 thousand soles

It means that the value of the home can be 150 thousand soles

This is the story of many, so Congress passed a Bill that will allow AFP members to have a percentage of their funds to use as the initial fee. They may use a quarter, that is, 25%. For example, if you managed to contribute 60 thousand soles, you can use 15 thousand (25%) as the initial quota for a home. And since the minimum initial fee is 10%. 

It is time to change bad habits and start caring for the car, starting with driving. But you should not forget that your car will never be 100% careful unless you have insurance that will help you in case of any emergency. If you are thinking of hiring one, first compare them all to avoid over-spending.

This alternative can be used at any age

This alternative can be used at any age

But of course it will not be appropriate if a consistent contribution to the AFP has not been made. In addition, you should be aware that this withdrawal will significantly reduce the pension you will receive when you have retired. Remember also that it is advisable not to give an initial fee of less than 20% and finally, that when comparing the available mortgage loans, you ensure that you get the best possible option.

Although many criticize that this benefit takes away the purpose of the AFPs, which is to secure income after retirement, for a large part of the population it represents the possibility of fulfilling the dream of their own home. What does it represent for you?


In doubt about credit costs?

If you have taken out a loan or are considering taking out a loan, you have almost certainly come across the term “credit costs”.

It is a very relevant trick when talking about loans and it is actually no matter what type of loan it is.

Whether you choose to take out a mortgage, consumer loan or bank loan, you will encounter the term.

It is therefore extremely important that you understand what it means if you are considering borrowing.


What are Credit Costs?

credit problem

You may have heard the term OPOP ? The APR stands for “annual costs as a percentage” and is a percentage of the total loan. It is an interest rate that indicates what your cost of the loan is, expressed as a percentage.

The same goes for credit costs, but this is expressed in a specific amount in kroner and penny.

So that’s just the amount that is behind the percentage in the OPP.


What are the costs of credit?

What are the costs of credit?

Credit costs include all the costs of taking out a loan. In fact, there are only two overhead costs, namely:

  • interest
  • fees

Unless this is a mortgage, where there are also contributions.



Interest is what you continuously pay to be allowed to borrow money from a lender (bank, finance company, mortgage institution and the like).

Interest rates are calculated in many different ways. You may come across terms such as nominal interest rate, debit rate and face value .

If you are confused about all the different interest rates, we recommend that you read our blog posts “Doubting interest rates? Here is the ultimate guide ”


As well as with interest, fees are also found in many shadows.

However, fees are opposite to the interest rate, usually something you pay in connection with the creation of the loan. However, there may be ongoing fees, such as a payment fee or similar.

The fees associated with taking out a loan vary greatly depending on the type of loan.

In general, mortgages, whether mortgage or bank loans, are known for having high foundation costs. This is partly due to a registration tax to the state.

Examples of fees are:

  • Things Opening Fee
  • Loan Case Fee (Establishment Cost of a Mortgage Loan)
  • establishment fee
  • end fee

Car loan Switzerland – instant loan online

For foreigners with residence permits B, C and G, the credit requirements do not differ significantly from those for Swiss citizens. Regular income is a basic requirement for both foreigners and Swiss citizens. Get your balance for cross-border commuters in Switzerland with just a few clicks! You live in Germany, Liechtenstein, France or Italy and work in Switzerland? Do you have projects, but you need financial support to get them? Car loan “Calculate now for free and without obligation your interest rates with the car loan comparison for Switzerland Online.

Unlike the leasing business, you are the owner of the vehicle.

Unlike the leasing business, you are the owner of the vehicle.

Unlike leasing, you are the owner of the vehicle. Your advantage: You receive a favorable interest rate and fixed monthly installments. With the car loan also repair costs and accessories can be paid. Your monthly rental price depends on the price of the vehicle, the down payments made, the exchange, the duration, the mileage and the replacement value. They are the owner of the vehicle compared to the leasing business.

You can cover as many kilometers driven as you want, there is no maintenance and also the comprehensive insurance is not mandatory. This has the big advantage that you can pay off your vehicle in monthly installments and have not paid off the entire purchase price at once.

Various advantages of car loans to the leasing business

Various advantages of car loans to the leasing business

The car is one of the biggest purchases. However, if the necessary financial resources for the immediate payment of the car fail, only financial support is possible. There are basically two ways to get a new car: leasing and car loan. Leases are carried out by the producer or by the importers and often entice with low rates.

Car loans are given by many banks and financial institutions. Although interest rates seem somewhat elevated at first glance, the effective spending on most car-drivers is significantly lower. Below is a brief overview of the possibilities of a car loan. You can request a car loan from us and then use the money in your pocket to find the best conditions for car dealers.

Often you can make cheap deals with the cash payment through the car loan and join in the short term. You are economically dependent on the car dealer and can limit yourself to looking for the right vehicle at the best rate. If you finance your vehicle with a loan, you become the owner of your vehicle, it is your property.

This is not the case with the rental. The rental car is the property of the house bank for the entire duration of the contract. You only have the right to use it for a certain period of time and for certain kilometers. You get offspring, need your own car for material transport at the new location, move into a city apartment without parking space, learn a life partner with a car but only one car knows, goes abroad for a year or gets a company car.

In all these and similar circumstances, the leasing business is suddenly very expensive because you are charged a premature termination of the lease with a high fee and unfavorable residual value requirements. With a car loan you are prepared for such changes. The car is at your disposal and you can sell it at any time and pay off the amount for free and early.

Apart from the great mobility of the car loan, it is often cheaper than the leasing alternative. For example, a comprehensive insurance such as that required for leasing is not required. You can take out cheaper partial comprehensive insurance or just a car liability insurance, which can save you a lot of money every day.

With a car loan, you can easily buy a “new” used car, often with a valid manufacturer’s warranty, so you do not have to bear the impairment cost yourself. Ultimately, auto loan interest rates are much cheaper than leasing rates from a tax point of view. Interest on car loans is deductible from the taxable profit and thereby reduce your taxes. With a car loan you can keep your vehicle costs very low.

You remain mobile and meaningful to many people, the vehicle is 100% yours. For more information about loans and leasing, see our weblog on this topic.