Take out a mortgage quickly this year

Take out a mortgage quickly this year

End-of-year crowds are threatened by new mortgage standards. Start your application for a mortgage on time under the current rules. Waiting can also be interesting.

Benefit from the current mortgage standards

Benefit from the current mortgage standards

The mortgage standards will be slightly stricter next year. In 2018 you cannot borrow more than the house is worth. Now the maximum mortgage is 101% of the home value. This means that you have to contribute more own money for the mortgage. For a home of € 250,000 around € 2,500.

In addition, the interest deduction for a residual debt financing will be canceled next year. Relocation with a residual debt will therefore become more expensive.

These may be reasons to buy that one house in 2017 or to relocate it, because that too is being tested against the currently applicable mortgage standards.

Binding mortgage offer required

Reasons to postpone your mortgage plans

Since last year, the binding mortgage offer has determined whether you fall under the old or new mortgage standards. Previously, a provisional quotation was sufficient to establish the old mortgage standards.

To get used to this new way of working, last year the deadline for the binding offer was extended by one month. This year there is no transition period for the new mortgage standards. Update: there will nevertheless be a transition period for the mortgage standards.

Be ahead of the busy season

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This means that you must have a binding mortgage offer from the bank before 31 December in order to be able to use the old mortgage standards. Don’t think now: ‘oh, that will take 10 weeks’.

For a binding mortgage offer, all mortgage documents must be complete and approved. In addition, lenders receive many applications at the end of the year.

A mortgage within a week sounds nice, but this is rarely achieved. For a somewhat complex case (freelancer, flexible contract) or a rejected or missing mortgage document, you have to add a few more weeks.

Be ready for the end of the year and start your mortgage application before mid-November.

Reasons to postpone your mortgage plans

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There are also reasons to postpone your mortgage plans until next year:

  • The mortgage interest rate remains at the current low level for the time being.
  • Double earners can borrow more next year.
  • Next year you can borrow more under the National Mortgage Guarantee.

A Christmas at a low price | Debt

Celebrate Christmas without breaking the bank, is it possible? Good Lender, financial reorganization advisers and trustees in bankruptcy, offer you some tips to limit the consequences of the holiday season on your family budget. The multiplication of gifts, the invitations that accumulate left and right, the many trips made, the purchase of the new sports jacket of Monsieur and the beautiful dress of Madame inevitably put additional pressure on the family budget.

Purchasing

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According to the most recent survey conducted by the Good Finance on behalf of the Quebec Retail Council on the purchasing behavior of Quebecers for the 2012 holiday season, the amount that Quebecers plan to spend as gifts for this period will be $ 676. on average per household. Thus, Quebeckers will give gifts to 7.1 people in 2012, an increase compared to 2011 (6.7 people). For comparison, the latest Honest Canadian Consumer Outlook Index reveals that Canadians plan to spend an average of $ 1,182 on their total holiday spending, including $ 629 in gifts.

Since caring for someone has nothing to do with the monetary value of the gift offered to them, giving a gift certificate is often a good way to make a difference. control over the budget. What are the other possible solutions?

Savings of time

Savings of time

It is now acceptable for each guest to participate in the preparations for a festive evening. Have you considered the possibility of organizing the New Year’s meal according to a ” community ” model? So, we do not hesitate to solicit the talents of everyone! Some planning is needed. It is necessary to establish the menu and to distribute the tasks. Savings of time and money insured!

The use of group purchases , derived from the term ” team buying “, is also a relevant solution. Thrift,  is some of the major players in the sector. For example, you could pay $ 29 for a $ 69 body care, protecting your budget limit while giving your loved one a value-added gift.

It is also possible to make substantial savings on the Internet through exclusive promotions , opting for free delivery , using price comparators and sharing greetings through virtual cards . Consumers seem to have understood it! According to a recent survey by Honest on behalf of Easy., 55% of Canadians will turn to e-commerce during this time of festivities. Canadian consumers most likely to shop online live in Alberta (70%) and British Columbia (67%).

The importance of the budget

The importance of the budget

The team of Good Lender wishes to remind you of the importance of respecting the budget established during the holiday season in order to avoid the excessive indebtedness that sometimes results from this period of festivities. Christmas or not, it is better to limit your future debt and take action to quickly tackle the repayment of debts that currently tarnish your balance sheet .

The proposal of a retailer who suggests buying the television of your dreams through a 72-month financing is far from tempting, especially if your budget only allows you to buy a standard TV 27 inches!

In closing, it is necessary to remember that the credit card is beneficial to the consumer only if the entire balance of it is paid monthly, thus avoiding the quasi-usurious rates charged by the issuing institutions.

Our best wishes for prosperity!

Our best wishes for prosperity!

We take this opportunity to send you our best wishes of the holiday season. Take full advantage of this moment of respite to gather in family under the sign of sharing and simplicity. May this Christmas live up to your expectations. May the year 2013 be a worthy reflection of your wildest dreams, and be the renewal of a healthy and improved personal financial situation.

Local forms of exchanges between individuals | Loans

In recent years, local forms of exchanges between individuals have multiplied. A new type of economic exchange is spreading on the fringes of traditional circuits. Local groceries, short circuits, self-service vegetable gardens, new cooperatives … are illustrations.

These person-to-person links have taken on a new dimension with the use of digital technologies. Internet platforms put you in touch with an individual who offers the product or service you are looking for. All this, outside the usual commercial channels, thanks to the many links woven by the Web.

Perhaps we are living here a new industrial revolution …

With these peer to peer exchanges we enter a collaborative economy.

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These platforms use the power of digital technologies to generate private responses to other individuals. They aim at the exchange in the interest of the partners themselves, without one of them gaining more.

They adapt to the current world and amplify mutual aid between neighbors. In doing so, they develop and adapt the will to work together cooperatives of the past. Think of Farmers-Craftsmen, Repair Cafes, Second Hand shops, Community vegetable gardens … Everyone finds his account because new opportunities meet the quality or price offer.

The perspective of these approaches is that everyone wins. Whoever proposes the good or the service finds new outlets. The one who looks for something sees his possibilities of choice multiplied and the platform itself gains in development. The basis of these exchanges is the search for the balance of earnings, the equitable distribution of added value!

It is truly a new economy that emerges as a model of peer-to-peer collaboration, with or without the exchange of money. By making room for people, she questions the excessive aspects of a liberal economy in the exclusive pursuit of profit.

The collaborative economy is based on three principles:

The collaborative economy is based on three principles:

1. Use takes precedence over the property .

Why own each car if it’s to leave it in the parking lot for ¾ of the time? It is more economical, more ecological and more relaxing (no problem of taxes, maintenance …) to share the same vehicle. Shared cars, Co-Carriage illustrate this use.

These practices show the diminishing influence of the property. They reduce consumption. They create a more social economy, where private ownership is no longer the only goal.

2. Sharing is more effective than keeping it to yourself.

There is more in two heads than in one, says the saying. This is constantly being verified in both intellectual and practical domains.

By sharing what you own, you reduce consumption and you participate in a resource management more economical and more respectful of the environment. Thus, new consumer behaviors are set up.

3. It is possible to base even economic relations on trust .

It is because you agree to trust the product and the service offered, that you agree. You postulate that there are non-predatory relationships between humans that are not intended to maximize particular profit. And by going down this path, you activate and strengthen this community of trust. This creates relationships of cooperation that benefit everyone, but especially the weakest.

The collaborative economy opens up new approaches that augur the emergence of a world that is more respectful of people and the planet.

The collaborative economy has several interesting aspects.

The collaborative economy has several interesting aspects.

  1. She avoids a series of intermediaries . It is precisely one of his strengths to put the offerer and the claimant in a mutual relationship.
  2. It is easy to access , fast and efficient. It is often enough just a few clicks to propose or get what you want. Saving time is valuable.
  3. It plays on a new proximity, initiated by Internet.

Collaborative economy today concerns all sectors.

Collaborative economy today concerns all sectors.

1. Finances

These platforms allow loans between individuals, peer to peer . They make connections between people wanting to invest their money and others who want to borrow money. This process does not go through the banks. It avoids a series of costs or losses related to their operation. This is called the collaborative finance sector.

In Belgium, Captain Ahab is the first platform to offer indirect contact between private investors and individual borrowers. Stability is one of the advantages of this new system. The combined effects of a known return on investment and the current 100% PROTECT Guarantee hedge prevent volatility.

2. But also culture, equipment, food, transportation, housing, clothing or assistance to people ….

In conclusion

We have further developed here the macro aspect of the collaborative economy, that is to say the putting in contact of individuals via the Internet. This aspect is today in full development and sees new initiatives constantly emerging.

But, as we have already said, there is also a micro aspect, also in full development, which concerns all local initiatives, which forge new links between local suppliers and local applicants.

These two points of view show how much the collaborative economy modifies traditional economic relations, thus opening up prospects for changing the economic system!

Huge price difference car insurance young people

The difference between the cheapest and most expensive price differences in car policies for young people is huge. To insure an eleven-year-old city car, an expensive company charges almost four times as much as a cheap insurer. On average, a young car owner pays around 1000 euros per year for third-party coverage. In 18 months, young people pay just as much in premium as their car is worth. This is according to research by the independent comparator Good Finance.

Difference between cheapest and most expensive insurer

Difference between cheapest and most expensive insurer

An 18-year-old motorist pays more than twice as much for his third-party insurance than someone who is over 24 years old. Insurers charge much higher rates for young people, because they have a higher accident risk than older drivers. Research by SWOV has shown that this risk is four times greater. However, the difference in premium between the cheapest and most expensive insurer is more striking.

For example, third-party coverage in Veenendaal for a Peugeot 205 from 1999 at Gaeon Bank costs 168 euros per month, while at Bruns ten Brink it is also possible for 40 euros.

Price difference for WA car insurance per month per municipality

Price difference for WA car insurance per month per municipality

The price differences were calculated on the basis of the following data:

  • 18 years;
  • 0 claim-free years;
  • Peugeot 205 (’99);
  • 8000 km / year.
  Cheapest car insurance Most expensive car insurance Price difference per month Magnification factor
Amsterdam Real: € 53 Gaeon Bank: € 181 € 128 3.4
Veenendaal Bruns ten Brink: € 40 Gaeon Bank: € 168 € 128 4.2
Franeker Bruns ten Brink: € 38 Gaeon Bank: € 147 € 109 3.9

Car insurance costs

Car insurance costs

In addition, Good Finance investigated the relationship between the current market value of the car and the costs of third-party insurance (ie by far the most chosen cover). 24,900 premium calculations show that the average annual premium for 18 and 19-year-old car owners amounts to 981 euros. This amount is equal to 66 percent of the current value. “Assuming that young people have their cars for more than a year and a half, this means that they often have to spend more for their car insurance than for the purchase costs,” said Erik Hordijk, director of Good Finance.

Car insurance in the name of parents?

Car insurance in the name of parents?

“It often happens that young people try to put the car insurance in the name of one of the parents. As a result, the premium is considerably lower, but this is strictly prohibited, “warns Hordijk. “It may seem difficult to check for an insurer who is actually the regular driver. But when in doubt, the insurance company can conduct a fraud investigation. And then the child and parents are further away from home. Moreover, a young person does not build up damage-free years in this way. ”

Smaller difference, premiums increased enormously

Smaller difference, premiums increased enormously

Update 07-03-2017

Good Finance did this test again in 2017, with the following data:

  • 18 years;
  • 0 claim-free years;
  • Peugeot 206 (’00);
  • 7,500-10,000 km / year.
  Cheapest car insurance Most expensive car insurance Price difference per month Magnification factor
Amsterdam Alli € 114.32 Overal € 311.32 € 197 2.7
Veenendaal Genz € 99.91 Overal € 284.04 € 184.13 2.8
Franeker Genz € 83.72 Overal € 244.34 € 160.62 2.9

We can see here that the premiums have increased enormously compared to 2010, in most cases they have more than doubled. The difference in euros between the cheapest and most expensive insurance has also increased, while the magnification factor has actually decreased.