We support you to keep a clear head in checking credit viability before choosing credit and before signing a contract. We are not a broker and can not advise on specific loans but support you to be more critical and to assess your real financial capacity.
Before choosing a credit
- Understand your current situation in terms of revenue and cost (including existing loans) as well as historic using the budget tool
- Challenge commercial offers mainly seen on TV
- Clarify the real rate called APR and compare versus other banks but compare apples with apples
- Do not forget the additional costs due under the loan agreement that are not known to the Bank and which are not included in the total cost of the loan like :
- The relevant notarial fees due on the establishment of a mortgage in favor of the Bank;
- The relevant notarial and state fees due for renewal and cancellation of the collateral established in favor of the Bank;
- Assessment of the property.
- Formalize your repayment schedule and clear monthly costs and plan your rest of living with support of the budget tool
Before signing a contract
- Check if the following information is clear and legible :
- The identity and address of the contracting parties (the lending institution and yourself);
- The type of credit;
- The total amount of the loan and the conditions for making the funds available;
- The duration of the credit, the amount, the number and the frequency of repayment dates;
- The borrowing rate and the conditions applicable to that rate;
- The annual percentage rate (APR) and the total amount due;
- repayment terms;
- The conditions of acceptance or withdrawal of the credit contract;
- Information relating to the performance of the contract (early repayment, termination of the contract, default, late payment compensation, etc.);
- Information relating to the processing of disputes