Monthly Archives

November 2017

Wat kost het om extra af te lossen op mijn lening

Borrowing is cheaper than being in the red

By loan

Borrowing is cheaper than overdraft

There are many misunderstandings about the overdraft on the current account. The overdraft on the current account is generally reasonably accepted. Most consumers believe that being in the red on their checking account is an advantageous form of borrowing money. Is this correct? Or is the statement correct: "borrowing is cheaper than being in the red".

Costs in overdraft

Many consumers believe that being in the red on their checking account is not really a loan. In practice this is different. Being in the red on the current account is also a form of borrowing money . You use money that you don't have. In this case, the money belongs to the bank where your checking account is held. You must also pay interest on this. The amount you have to pay is generally not very high. But the interest does. Because you have only borrowed a small amount (usually up to a maximum of $ 2,000.00, you will not notice much of the interest. If you look into this, you will soon notice that the interest is often close to the maximum legal interest. of no less than 14% Another disadvantage of being overdrawn on the current account is that it is tempting to make withdrawals from your loan, so that you will pay even more interest than is actually necessary.

Costs of an “ordinary loan”

Just as with the overdraft on your current account, costs will of course also be charged for a “normal loan”. If you have a revolving credit or a personal loan, you must of course simply pay interest on this.
The difference is only the amount of the interest. With a revolving credit or a personal loan you pay a much lower interest rate.
In addition, with a normal loan you also have the advantage that the withdrawal is slightly more difficult. You have more time to think, and therefore less chance of making unnecessary or too expensive expenses.
By also keeping your loan as a separate loan, you are more likely to repay your loan. And that can save you a significant amount of interest.

Pitfalls in the red

From the above, you can already somewhat deduce what the main pitfalls are when you are overdrawn. Despite these pitfalls, it is still one of the most popular forms of borrowing money. Unfortunately, this is probably largely because there is little interest in making overdrafts cheaper. The benches are of course the laughing third. They enjoy a substantial income stream due to this high interest rate.
Briefly at a glance:

  • Interest often rising to no less than 14%
  • Too easy to make withdrawals from your loan
  • Unnoticed, being in the red remains a habit.

Merge your loans

It is important to gain insight in resolving obligations such as credit cards, loans and other expensive forms of credit. Most consumers experience it as confronting, but it is good to look this up. Take an hour to compare your accounts. The statements of your loans, your credit card (s), but also the overdrafts on the checking account. And the payment arrangement at Wehkamp. The latter is also simply a loan.
If you know what you have outstanding loans, you can also easily check what your (too) expensive loans are and what your advantageous loans are. After that, bundling can begin. Combine all overpriced loans into one responsible loan, with low interest rates and good conditions. You will soon find that this can save you a lot of money.
At 2Fast4Paws , we are of course happy to help you gain a good insight into your financial situation.

Betaal nooit voor het afsluiten van een lening

Never pay for taking out a loan

By loan

Never pay for taking out a loan

Did you know that the mediation of a loan is always free? Whether or not you would like advice about a loan makes no difference. Borrowing money costs money, but mediating a loan, no costs may be charged for it. Are you still charged for mediating a loan? Then there is a very good chance that you are dealing with a rogue provider.

Also always free advice about borrowing money?

From the above you can infer that in any case no brokerage costs may be charged for a loan. This is also legally laid down in the Consumer Credit Act .
No costs may be charged when taking out a loan. That's nice. There are therefore no strings attached. However you want to turn or turn it. Mediation with a loan must be free. Borrowing money costs money, but this only refers to the interest on the loan. Will you still be charged? Then you can report this to the Netherlands Authority for the Financial Markets. They can take direct action against such malicious providers.

Request a free quote

When will costs be charged?

As already sufficiently indicated, no costs are charged when mediating a loan. The intermediary is rewarded in this by the bank. Costs may be charged when mediating payment protectors. Such as term life insurance and the like. The premiums for this are net premiums. This means that nothing is earned by the broker. The broker may charge costs if these insurances are brokered. These costs are $ 99.00 at 2Fast4Paws. The policy administration is provided for this. Assistance with a claim is also provided for this. If you request a quote from us, we always clearly state in the conversation that mediating the loan is free. Costs are charged for mediating insurance.

Who are the victims

Groups most affected by providers who do want to receive money to broker a loan are often also vulnerable. They are consumers in a hopeless position. Consumers for whom borrowing money is not possible due to their negative BKR registration, too low income, or sometimes even a combination of these two factors. This is therefore reason for the AFM to intervene quickly if signals of such practices are received. If a provider also wants to offer you something similar, we recommend that you contact the AFM directly. And of course not to make payments. The bad news is that the loan will never be paid to you.

Consumptief krediet

The Netherlands is still too expensive to borrow

By loan refinancing

The Netherlands is still too expensive to borrow

As early as 2008, an article by 2Fast4Paws appeared in various media in which it was stated that most consumers still borrow money at too high interest rates. But the Netherlands is still too expensive to borrow. Too much interest is still paid by most Dutch households. And that is money that you can spend better, even if it improves economically.

What has changed?

Actually, not much has changed in recent years. Interest rates have fallen sharply, but many consumers have stayed put.
Not all banks have gone along with the fall in interest rates. In fact, smart tricks have been used to still make you overpay. Banks have created new “labels” to ensure that they do not have to lower interest rates on your current revolving credit .
In addition, the consumer himself has often remained seated. In part for convenience, but also in part because the standards for borrowing money have become stricter.

What can you do

The Netherlands is still too expensive to borrow. To be more precise, Dutch consumers are still borrowing too expensive. In any case, about 75% of consumers still borrow at too high an interest rate.
What can you do about it? The easiest way is to contact the bank or intermediary where you have the loan. Transferring a loan is generally free of charge. In any case, requesting a quote for a loan is always free of charge.

Apply for a loan

What are you doing about your overpriced loan?

If you are reading this article, you are probably already aware that you are borrowing the money too expensive. The question is of course what are you going to do with it? Are you going to start saving money? Or do you dread all the hassle and let it go? You decide for yourself what your choice is. It is true that applying for a loan may take less time than you might think. Naturally, a new contract must be signed with an agreement that ensures that the interest rate is lowered. You must also provide a number of documents. This will in any case concern a copy of your ID, an income statement and a bank statement with credits and debits of several weeks. In addition, an overview of the loans to be repaid is often requested. Collecting these documents will generally take you about 15 minutes of your time. Do your savings outweigh that? Overall, most certainly.