Loan without proof of income and without register

It goes without confirmation of receipt

It goes without confirmation of receipt

A solution for all applicants who are currently in a situation where they cannot fully document their receipts. A loan without proof of income is a loan that does not require this documentation. Do you have problematic income or difficult to prove? Have you already applied for a loan? Then you know that it is very difficult to get a loan with traditional providers. Loan without income is the solution. The decisive criterion for approved loans is for each provider to assess your creditworthiness. If you are able to repay, the loan can be approved.

Loans without proof of income have a number of advantages

Loans without proof of income have a number of advantages

The strongest argument for this is the fact that you do not have to prove income, this option will certainly appreciate entrepreneurs and self-employed, who due to accounting operations have a negative tax return and are unable to prove their income. Other advantages offered by the loan are its availability, lower demands on applicants, a higher percentage of approved applications and, above all, the speed with which you receive money.

The disadvantage of a loan without proof of income is higher interest

The disadvantage of a loan without proof of income is higher interest

Due to the fact that they are loans without proof of income, which are approved by a larger number of applicants , providers have to compensate for the risk of default. Therefore, expect a higher interest rate than, for example, bank loans. But they always assess creditworthiness. It may not always be a suspicion, some loans without proof of income are also bank. There, it is sufficient to show the current account statement instead of proof of income.

Money without a registry?

Money without a registry?

Consultation of the debtor register may reveal your past hesitation by paying past liabilities. For banks, this can be a problem to get a loan, non-bank providers can tolerate these offenses and provide a loan without a register if your overall repayment ability is OK.

Loans without income

One of the loans where proof of income is not required is a loaner. You will only be required to prove your income if you have problems repaying your existing loans. It is one of the first loans of this kind in the Czech Republic.

First home renovation loan or mortgage?

Change house or renovate your own? A question to ask yourself before deciding whether to seek a restructuring loan for first home or a mortgage restructuring. Choice that in turn is conditioned above all by the type of work to be carried out and therefore by the overall expenditure to be incurred. Let’s see what are the various points to consider to find the best solution according to your needs.

 

How much will I have to spend on jobs?

It is quite clear that without having a quote from one or more companies in hand that will then carry out the work, you cannot have a precise idea of ​​the amount of the expense to be incurred for the restructuring. We immediately highlight how for the modest figures it will be quite difficult to have the possibility of being able to apply for a restructuring mortgage, and where possible, great attention should be paid to ancillary costs. The latter can in fact make small loans at low rates in any case not very convenient, or rather less convenient than a normal loan.

If, on the other hand, the expense is substantial, it may be less expensive to go through the request for a restructuring loan, especially for the sustainability of the installment, which by choosing long amortization plans (less likely for a normal loan) tends to be more contained (but you will have to however, pay attention to the amount of extra interest that will have to be repaid). This discourse partly loses importance in the case in which it is possible to choose (having the necessary requisites) the first home renovation loan Inpdap, or the institution ‘s mortgage with the same purpose, since the rates tend to still be very content.

 

The difference in rates

mortgage loan

A first home renovation loan will have higher rates than a mortgage and you will lose the option of tax deduction. However, the absence of the notary’s intervention and the registration of a mortgage can compensate for these aspects, so you have to have patience, compare the different estimates, considering all the expenses that will have to be incurred, and make the assessment on the global rates.

You must also pay close attention to how the loan is disbursed, for example if it involves direct payment to the company, or as a transfer to the applicant’s account. A fundamental aspect when it comes to renovation works that allow access to the tax deduction: the payment methods will in fact make a big difference for the acceptance or otherwise of the request for deductibility.

To overcome these problems and be on the safe side, specific loans offered by some banks can be used, many of which can also be used to improve energy efficiency.

 

The weight of ancillary costs

The weight of ancillary costs

As already mentioned, for a restructuring mortgage there must be the intervention of the notary to which must be added:

  • the costs of appraisal;
  • stamp duty;
  • annual management costs;
  • initial investigation fees;
  • the fire and burst insurance policy, etc.

In the case of a first home renovation loan, insurance is normally not mandatory, the notary does not intervene and no appraisal costs are foreseen. However, the assessments of the weight of the accessory costs linked to the loan or loan must also be assessed on the basis of the duration of the amortization plan for the repayment of the entire sum, a speech that also involves any early repayment penalties.

 

Delivery times

mortgage loan

The timing of a first home renovation loan on average is shorter than that of the “office workers” for a mortgage. If the solidity of the applicant’s income guarantees were the same, however in the case of the mortgage, the time linked to the appraisal must be counted, starting from those related to the assignment given to an expert up to those of drafting the appraisal and its delivery to the bank (which on average takes no less than 7 days in total).

So if in the case of the loan you can get the sum within a few days, in the case of the mortgage necessarily several weeks pass, until you reach times that can even touch the two months to have the money in the account or to pay the advance to the firm that will carry out the work, etc. In conclusion, in case of tight deadlines, the mortgage could be the least viable solution.

 

The guarantees

mortgage loan

For a loan, including a restructuring loan, the guarantee is normally linked to the income and property situation of the applicants. In the case of a restructuring loan, there is normally a real guarantee of the registration of the mortgage in addition to the income one. So in the first case there is less bureaucracy even in the event of early repayment or regular repayment, while in the second case the process is a little more complex.

 

The obligation of the current account

home renovation

For some years now, one cannot be obliged by law to open a current account with the bank that provides a mortgage, while this “protection” does not exist in the case of loans. It is no coincidence that some Institutes offer a restructuring loan only to their account holders (other requirements such as crediting the salary, and cc) are often added. So if you do not want to change the account with your bank, then you need to get informed in time and evaluate any limitations in this regard.

 

Duration

loan application

If you need large amounts, choosing a mortgage instead of a loan may become mandatory. In a normal loan the maximum duration reaches 120 installments for repayments (in exceptional cases it can go up to about 180 installments), while with mortgages it can go up to 360 installments. However, there is also to consider that for high sums, mortgages normally use the SAL method (work progress with payments by the bank in tranches).

 

Fiscal detraction

home loan

A distinction must be made between the one due for passive interests and the one on the type of restructuring work carried out. In the case of a mortgage on the main home alone, the deduction of interest expense is also due (rate of 19% on a maximum amount of interest expense of $ 2,582.25).

As regards the costs incurred for the restructuring, these are deductible for both types of financing according to current legislation, within the maximum established threshold and to an extent equal to the rate applied in the tax year.

Instant credit without proof of income

In particular, those interested in credit who are not in a permanent employment relationship and therefore do not have a regular income would find an immediate loan without proof of income an interesting product. Because without a proof of income, prospective creditors generally do not get a loan.

This is mainly due to the fact that the bank can use the proof of income to check whether the income specified by the borrower is correct and whether it is actually sufficient to meet the possible obligations under the loan agreement. Because only then is lending interesting for the bank.

Instant loan without proof of income – almost impossible

Instant loan without proof of income - almost impossible

In practice, it looks like an instant loan without proof of income is difficult or impossible to obtain. Because for the banks, the granting of instant loans without proof of income would of course mean an enormous financial risk. After all, the bank could not assess whether the customer can meet his loan obligations at all or not. Another problem is that many banks do not offer instant credit anyway.

An instant loan without proof of income would only be possible with providers who have an instant loan in their product range. The prerequisite to be met by any reputable bank would be either the provision of appropriate credit security or the provision of a solvent guarantor who, in case of doubt, can stand in for the borrower’s credit obligations.

Instant credit without proof of income

Instant credit without proof of income

Some putative providers of instant loans without proof of income have specialized less in the granting of said loans than in -off the relevant prospective creditors. The main focus of these dubious companies is either to provide prospective creditors with their address details or to charge them equally expensive fees without providing a valuable service (for example, upfront fees for a loan request). This is particularly annoying because people who rely on an instant loan without proof of income urgently need it and are also financially weak anyway, so that any damage will hit them particularly hard.

Credit after the trial period

When changing jobs, the employee always has to accept a trial period. The duration depends on the respective company. New employment in another company also affects financial transactions, especially when it comes to lending.

Banks are happy to refuse a loan request during the trial period. The time after the probationary period is too uncertain for you if no definite commitment has been made about continued employment. Another problem during the trial period is that the new employer can give notice of termination at any time with short deadlines. Of course, this unsettles the banks and a loan approval is very unlikely.

Credit after the trial period

Credit after the trial period

If the employee is taken over by the company after the trial period, it looks more positive with a loan after the trial period. Now it only depends on the amount of income and the information from the Credit Bureau whether a loan approval is given. A bank customer has particularly good cards if the new company is the state. The civil service has special conditions and the employees are almost non-resignable.

Why is a loan not possible during the trial period?

Why is a loan not possible during the trial period?

A loan is always at risk for the bank. If the bank customer changes his job, he initially has a trial period. However, this does not mean that the employment relationship will continue to exist afterwards. If there is no further employment, unemployment will follow in the worst case if there is no prospect of a new job. Therefore, anyone planning to change jobs should apply for a loan beforehand. He doesn’t even have to report the later change of job to the bank. If the money goes into the account every month, the bank does not even notice the change of job.

In an emergency, the bank customer can use the overdraft facility on his checking account, because once it is available, it can be used at any time. The bank customer can only apply for a loan after the probationary period following a takeover. A promise is even very likely, because after the trial period employment is secured. If the income is high enough for a loan, there should be no problem with a commitment.