Mobility loan: the benefits.

The mobility loan has been created to encourage people to go to work in an environmentally friendly way. And how do we mainly do that? With the bike of course. At the moment the interest rates for a mobility loan are low. The ideal moment to think whether you will soon go to work by bike or not.

In September it is the week of mobility. Meanwhile, more than 50 European countries are taking part in this promotion. The general theme is always the same: think about new mobility facilities and this in an environmentally conscious way. And preferably so that the working person gets more exercise because many of us have a sitting job. These actions appear to work in part. The trend to go to work by bicycle is on the rise. Certainly in Brussels there is a large increase in the number of cyclists.

In Flanders there is much more cycling than in Wallonia. They also prefer to take a bicycle rather than a bus or tram (for short distances).

Studies have shown that people who exercise generally have a longer life expectancy. But also that these people become less sick. Interesting of course for companies whose number of sick people is reduced each year by encouraging people to exercise more. Not only do companies lend a hand, but the government also offers numerous benefits to make people opt for an environmentally conscious means of transport. We take a look at the benefits of purchasing a bicycle for commuting: Professional expenses, mobility loan, bicycle allowance.

Enter the mobility loan as a professional expense

Enter the mobility loan as a professional expense

When a company does not intervene in a bicycle allowance or in the purchase of a company bicycle, it still remains interesting to purchase a bicycle for commuting.

In the tax return you can opt to choose a lump sum as the professional costs. This is only interesting if the professional costs incurred are lower than the actual professional costs incurred. In general that is around EUR 4700. If your costs are higher, you can enter these as professional costs. In this case this can be: the purchase of an electric bicycle, the insurance costs and any bicycle assistance and the costs of the mobility loan. Make sure you keep all documents and invoices properly. You must present this with a tax return.

Mobility loan + bicycle allowance

Mobility loan + bicycle allowance

When you receive a bicycle allowance from your employer, it is of course very interesting to take out a mobility loan. Because the bicycle allowance will ultimately pay back your mobility loan. This is partly dependent on how your employer pays you. With some companies you have to state per day when you come by bike, with other companies you have to pay part-time or full-time with the bike and some companies pay you a bicycle allowance per day. So the benefit will largely depend on that.

As a bicycle allowance, you receive approximately EUR 0.24 / km. One must also take into account the additional insurance policies, legal assistance and possibly a fully-fledged bicycle, especially if you have purchased an expensive brand-new bicycle. Make the calculation yourself and count how long it will take to earn back your bike.

Company bicycle + bicycle allowance

Company bicycle + bicycle allowance

Perhaps the most fun option is that the company itself invests in company bicycles, covered parking facilities and showers, which encourages their employees to come to work by bicycle. First of all, this is very interesting for companies, as the government is currently stimulating companies enormously with tax advantages to invest more money in environmentally friendly means of transport. For example, the deduction rates currently amount to 120%. That is of course not of lasting duration. A company can also take out interesting loans for this.

=> Tax benefits as a self-employed person

=> Apply for a loan as a self-employed person

=> Self-employed persons can borrow money more easily

The use of a company bicycle is not considered as a wage and therefore no taxes have to be paid on it.

In addition to a company bicycle that employees can use to ride to work, these people (if the company offers this) can also make use of the bicycle allowance. As long as one does not receive more than the legally stipulated bicycle allowance of 0.24 EUR / km, one will not have to pay taxes on this. If one receives more, this is considered as wage.

Offering a bicycle allowance is very interesting for companies. Because the cost of a bicycle allowance is much lower than a wage surcharge that would yield the same net amount. A nice bonus that companies can offer to their employees. It is also interesting for the employee because they do not have the purchase costs of a high-quality home-work bike that can sometimes cost several thousands of euros and still can use the bicycle allowance. In addition, every km you cycled has less wear on your car and less fuel costs.

If you really come to work regularly by bicycle, then you can opt to have the car insurance of your car adjusted to the number of kilometers driven. This saves you on insurance costs for your car.

Insurance and assistance

Insurance and assistance

I try not to devote too much to it, but if you really go to work regularly by bike and you do long distances. Then it can still be interesting to take out, among other things, a Civil liability for the damage that you would inflict on third parties.

In addition, you can opt to use the bicycle comprehensive for bicycles that cost several thousand euros. Often the accessories that are necessary for safe cycling are also covered. Here too there are various formulas. Also check whether the formula for theft is wide enough and which damage is actually paid. An interesting bicycle comprehensive is that of Touring. You are covered up to a maximum of EUR 10,000, including a assistance formula, theft formula and compensation in the event of vandalism due to various kinds. To get an idea of ​​the costs, a bike that costs 5000 EUR to purchase, the bicycle total is around EUR 180 per year.

Legal assistance insurance (RB) provides extra coverage in the event of conflicts. Do not get basic legal aid because you are actually not satisfied with that but you do pay for it. To do this, go to your insurance office and ask behind the conditions. Sometimes it is possible that RB insurance is included with travel assistance.

Express Credit Immediate Payment

There are situations in which you need fast money, for such situations, emergency loans are intended for immediate payment. Such a situation can be, for example, that you urgently need to repair your car, or that an operation on the pet must be made. There are several ways to get money as fast as possible, here we want to show some.

How do you get an urgent loan for immediate payment at a bank?

How do you get an urgent loan for immediate payment at a bank?

If you have been a customer at your house bank for a long time and the bank consultant knows one and the payment transactions and everything is in the green area, one of the bank advisors will certainly be happy to help. Smaller loans are usually granted quickly, only larger loans are examined more closely and intensively.

How do you get an urgent loan for immediate payment on the Internet?

How do you get an urgent loan for immediate payment on the Internet?

On the Internet there are numerous financial institutions which promise a fast payout. Many comparison portals offer numerous loans for immediate payment. But do not be always irritated by very low interest rates, often there is a catch behind. For example, you should additionally take out a loan loss insurance. These businesses have only one purpose, namely to generate more commission. Also, it is often advisable to accept a higher effective annual interest rate, but if one is given the opportunity to replace the loan early.

The most important prerequisites for obtaining a normal purchase loan are always a positive Credit bureau statement and a regular income. To that, the credit request must be realistic. You can not finance a brand new Ferrari with a monthly income of 1500 Euro net.

What do you have when you are in Credit bureau?

What do you have when you are in Credit bureau?

1 – The pawnshop

In almost all major cities, there is a pawn shop somewhere. These are credit institutions that lend you a certain sum against a pledge. If you have paid back this sum incl. Interest, you get the pawn back. Loaning is basically anything that can be turned into money. 

You usually get a maximum of one third of what the object you want to lend is worth. So if you bring a smartphone to the pawnbroker, which is worth 600 euros, you get paid a maximum of 200 euros.

2 – The Policy Loan

If you have a life insurance policy, be it a life insurance or a pension insurance, which has a surrender value, you can deposit the surrender value as collateral and get a loan in almost every situation.

A small hint:

A small hint:

Most people fall into the debt trap because they do not ask themselves how much money they need, but how much money they can get.

The stupidest question you can ask when borrowing is How much can I get ?

5 tips on instant loan immediate payment

5 tips on instant loan immediate payment

1. The fastest way to instant loan with immediate payment

The fastest way to an E-loan with immediate payment leads to the fact that already at the beginning all necessary information is given correctly. So of course it is understandable that the payment takes more time, if not all documents are available.

Therefore, the essential documents such as ID card, employment contract and payroll should be ready before the application. These can then be uploaded immediately, so that the loan can be transferred within just a few hours.

2. Check entries carefully

All entries must be checked carefully before they are sent to the provider. It does not help if the borrower hurries and mistakes occur. This will only delay the payment of the loan, because often the information provided has to be corrected manually.

3. When can an urgent loan be taken up?

Who wants to apply for an urgent loan with immediate payment, must have one thing above all – creditworthiness. Urgent loans are usually not awarded without the examination of Credit bureau. If there are negative notes, then such a loan is not granted in the vast majority of cases. In addition, there should always be an indefinite permanent employment relationship.

4. Enjoy express transfer with caution

For extremely fast loans – some are already accounted for within 30 minutes – the cost of the express transfer must be taken into account. Especially when it comes to small sums of money such as 200 or 300 euros, these amounts can make a huge impact and also affect interest rates. So a customer is not astonished, if instead of the borrowed 300 euro suddenly 345 euro to repay and on this amount still the appropriate interest be pitched.

5. Check the duration of the transfer

Before concluding a contract for an urgent loan, the duration of the transfer must be checked. The payout usually takes place the very next day, so it should not take more than three business days for the money to go into the account. However, this is only half the story, which is why it is always worthwhile to read the terms and conditions of the provider exactly. This may possibly be delays, but these are only mentioned in the fine print.

The loan with immediate payment – what exactly is that?

The loan with immediate payment - what exactly is that?

While normal loans often require a longer wait before paying out the loan amount, the immediate payment loan offers a distinct advantage: the money is usually in the borrower’s bank account within two to three business days. Thus, this loan is ideal to be used for short-term major purchases or to settle open bill.

How reputable are loans with immediate payment without proof of income?

How reputable are loans with immediate payment without proof of income?

To determine if a loan offer is really serious, a few factors should be considered. For example, it is important that the bank does not charge any costs before concluding the contract. Also, the interest rate should be specified directly as annual percentage rate, because only in this all processing fees and other costs are included.

What are the advantages and disadvantages of such a loan?

What are the advantages and disadvantages of such a loan?

A big advantage of a loan with immediate payment is, of course, that the borrower can dispose of the desired sum after a short time. On the other hand, ordinary consumer credit often requires waiting periods of one week or more. The disadvantage, however, is that banks can of course also pay these loans accordingly: The interest on a loan with immediate payment are higher in percentage terms than in the normal installment loan.

How to find the best deal for a loan with immediate payment

How to find the best deal for a loan with immediate payment

When it comes to getting the cheapest possible loan with immediate payment, the first step should always be a thorough credit comparison. The easiest way to do this is via the Internet: not only is it completely free, it also takes just a few minutes to complete and offers the opportunity to find the best deal for your desired loan.

 

 How to Take a Home Loan.

1. Financial situation

1. Financial situation

The first step in the process of taking out a home loan is to assess your financial situation. You need to review your expenses and calculate the amount you can safely pay off each month in installments.

Banks usually lend up to 30% of their net income. It is also important to note that if you do not take out a home loan alone, the bank will examine your income and that of your co-spouse (partner) to determine the maximum monthly installment. However, it is up to you to consider whether this amount, set by your bank, will fit into your budget on a monthly basis.

Self-financing is also required when taking out a home loan. So you also have to see how much self-empowerment you can offer. So how much of your own money can you get into buying a home and paying off the initial cost of the loan is also included here. Or, if that proves to be too little, how much other cover can you possibly offer? These may be additional properties that the bank may still accept as collateral.

2. Real estate selection

This can be followed by the most exciting part of buying a property, choosing a property. Do not hesitate to be careful here, especially if you are looking for a real estate agency.

3. Bank loan facility

3. Bank loan facility

It is important to find the most favorable home loan construction in the most suitable bank. Also, keep in mind all the bank charges (brokerage fees, fees, account opening fees, appraisals, attorneys fees, etc.) incurred when borrowing, and that the loan can be prepaid and redeemed.

It’s a good idea to ask an expert for help or calculate on our site so you don’t have to go through all the banks in person.

Be sure to select the bank before concluding the contract of sale because each bank has different formal and substantive requirements for the contract of sale. If these are not fully met or if you go to another bank for credit, your contract may need to be modified.

4. Purchase agreement

4. Purchase agreement

A contract of sale is a so-called title reservation contract in which the facts are recorded. They record the amount of the down payment, the amount of the home loan taken and for what term, and the written supplies requested by the bank. This contract must be submitted to the Land Registry prior to commencing borrowing.

5. Borrowing Forms

5. Borrowing Forms

After the purchase agreement, you can complete the home loan bank forms, ie the credit application form and other statements. These are very complicated to fill out and you should seek the help of a knowledgeable expert.

6. Valuation

The valuation is ordered by the bank from an independent firm contracted to it. The appraiser determines the collateral value of the property, from which the bank determines the maximum loan coverage. The value of the collateral, usually 10-20% of the transaction value.

7. Home loan evaluation

7. Home loan evaluation

Once the bank has received all the necessary documents, it begins to review and verify them, and the credit assessment begins.

8. Notary

Before the loan is paid off, the loan agreement must be taken to the bank’s own notary and the document must be finalized.

9. Land Registry – Law Firm

The notarial deed must be submitted to the Land Registry. The deed is served and stamped on the title deed to begin the mortgage entry. It is still necessary to obtain from a solicitor a so-called final payment statement in which your sellers declare that the title can be transferred.

10. Other conditions of disbursement

10. Other conditions of disbursement

For example, presentation of proof of compulsory insurance, receipt of notarial deed, note of ownership, payment of own funds.

11. Dispensing

The bank will transfer the amount claimed to the seller’s bank account.

 

Borrow small amount – apply for a small payday loan

It is often easy to borrow a small amount. Borrowing a small amount (often up to 500 euros) ensures that you have just enough money to do that repair to your car, book a city trip or still buy those shoes. If you want to borrow a small amount, it is best to consider taking out a mini loan. These are loans that are often deposited into your account quickly and where your creditworthiness is not checked at the BKR in Tiel. Do you want to take out a mini loan quickly? 

Quickly borrow a small amount

Quickly borrow a small amount

If you want to borrow a small amount quickly, the easiest way is to take out a mini loan (not for nothing called a flash credit). An advantage of a mini loan is that the money is in your account quickly; sometimes within 10 minutes! Depending on the lender, the money will be in your account within 10 minutes or a day.

Borrow small amount without BKR

Borrow small amount without BKR

Many banks and other lenders check your BKR with a loan. However, if you want to borrow a small amount without BKR, you can consider taking out a mini loan (also known as a micro credit, a flash credit or a flash loan ). Many of these mini-loan providers do not check your BKR, but want to see other documents from you. You can think of;

  • Last pay slip
  • Copy of the bank statement
  • Proof of payment

Make sure you also have these documents with you when taking out a mini loan. Cashmore, however, advises against borrowing a large amount without BKR, as this often means that the interest is high. With this you run the risk of paying a high interest for a small amount.

Interest of a small amount

Interest of a small amount

The interest of a small amount varies greatly. Compared to a payday loan or revolving credit, the interest is often considerably higher. In many cases, you pay a relatively low interest, but the interest is much higher after the term. When taking out a mini loan, pay attention to the total duration of the loan and ensure that you pay off your mini loan in time. This prevents you from having to pay unnecessary extra money to pay off the interest.

Borrow more than a small amount?

  • Borrow up to 5000 euros
  • Borrow up to 10000 euros
  • Borrow up to 15000 euros
  • Borrow up to 20000 euros
  • Borrow up to 25,000 euros
  • Borrow more than 25000 euros

Borrowing money, costs money. Always consider whether or not you need the money. It is often wiser to save for a large purchase or to wait for your salary.

Take out a city bank from a loan or mini loan.

Are you thinking of the By-Town bank for a loan or do you want to take out a mini loan so that you can get some extra money? They are two different options, which you must compare well to make a choice. The Amsterdam By-Town bank for loans has been around since 1614 and is a well-known concept in the By-Town and the rest of the Netherlands. You can easily take out a mini-loan online, you have several options to get money.

By-Town bank of loan

City bank of loan

Curious how the By-Town bank works and how you can use it in relation to a mini loan? The By-Town bank of loan offers you the possibility to deposit items for which you are subsequently paid a certain amount. For example, do you have a gold watch or something else of value? With a By-Town bank you have the option to use your things to get money loose, with which you can then do what you want.

In addition, a social bank is available at the municipality. The moment you are in trouble with money, you have the option to take out a loan there. That social By-Town bank of loan is available to anyone who earns no more than 130% of the minimum income. In this way, the By-Town bank of loan ensures that you have the option to take out a loan in case of money problems, with which you can ensure that you can get out again.

Take out a mini-loan

Take out a mini-loan

As an alternative to the By-Town bank, you can take out a mini-loan online. Curious about the benefits? You generally have your money at your disposal a bit quicker, you don’t have to wait for that, unlike the By-Town bank. An important condition for a mini loan is that you have an income, in most cases you have to prove that you have a job or that you receive a benefit. You can take out a mini loan based on that.

It is not necessary to be able to present an income at the By-Town bank of the loan, as an alternative you can keep your valuables in custody. It is advisable to compare the two options well and to choose between the By-Town bank of loans and a mini loan on the basis thereof.

Home Loans for Workers Abroad

Home loan is also available to those working abroad

Home loan is also available to those working abroad

Many Hungarians work abroad, most of them in Austria, Germany and England. Not everyone plans to stay abroad permanently, so they would like to buy real estate in Hungary. The home loan is also available to those working abroad. Foreign income is not an excuse, only stricter conditions than for a Hungarian citizen working in Hungary, and the range of lending banks is narrower.

Home Loans for Workers Abroad – Those with a foreign income can obtain a home loan on the following prerequisites:

Address cards-tax card

The most important condition is the existence of a Hungarian address card and a Hungarian tax card. These are the prerequisites for taking out a home loan if you have foreign income. Otherwise, you will not be able to obtain a home loan from any credit institution.

Employment Relations

Employment Relations

Foreign workers generally require continuous employment for more than 3 months. A bank can apply for 6, but preferably 9 to 12 months, or 24 months in total, from multiple locations.

Work Contract

Work Contract

In most cases, financial institutions expect a contract of indefinite duration. Lending institutions prefer a contract of indefinite duration because it gives them greater security. In the case of a fixed-term employment contract, it improves the position of the borrower if the workplace has previously extended the employee’s employment contract. Of course, the probationary period and the period of notice are disqualifications for taking out a home loan. Hungarian banks already have employer forms in English and German that do not need to be translated separately.

Bank account statement

Bank account statement

Usually, credit institutions ask for a 3-6 month bank statement, which shows the income they have received. This can be a foreign bank account, depending on what the creditor bank accepts. There are some financial institutions that accept a statement downloaded from netbank, while others insist on a statement printed in the bank branch with a stamp and two signatures. The domestic bank expects some of the foreign income to go to the bank account it maintains. There are banks that may require proof that a loan applicant is not listed in the foreign bad debt records system.

Own resources

Own resources

The purchase of a property requires the amount of money required by the bank, ie own funds. Credit institutions generally disburse a maximum of 80% of the value of the property, ie a minimum of 20% own funds is required.

Income, income certificate

Eligible income is that which is certified by the employer and credited to a bank account. Generally, those working abroad have a higher income than those working in Hungary. The JTM (Income Proportional Rate Indicator) shows the maximum portion of a debtor’s income that a loan installer can make. The installment payment may not be higher than 25% of the monthly net salary, the limit is below 400 thousand HUF, and in case of income above 30%. And for mortgages with a fixed repayment period of five to ten years, the limits are 35% and 40%, respectively. The 50 and 60% limits apply only to fixed mortgage loans for a minimum period of ten years or until the end of the term. The creditor bank may apply for a certificate of income issued by a foreign tax authority.

In 99% of the cases you will not receive your foreign income in HUF but you will probably repay your Hungarian home loan in HUF from a Hungarian bank account. Thus, it is very important at what exchange rate and how you will deal with exchange rate differences and costs. It does not matter what the income in euros, pounds or even dollars is converted into forint, and under what conditions. It’s a good idea to choose the right account package for this.