Guide to web applications multiannual loans : what to do

The 2019 Multiannual Loans web applications are the main channel for requesting ex Government Agency loans. How is the forwarding carried out, what must those who want to receive the loan do? Here we list all the operations to be performed. Further illustration at kamagragel.ch

How the request is made for long-term loans

How the request is made for long-term loans

The request for a multi-year loan is undoubtedly one of the most delicate steps for the user interested in financing. How is the consignment produced? Web applications Long-term loans are the main solution.

For their use, the user must use the Social Institute.it website. Inside, the page called “Multi-year loan directed to members Unitary management of credit and social benefits” will be sought. It is a resource that allows you to view more information regarding financing.

By taking advantage of the ” Access the service ” link, the user can initiate the procedure involving the online request for the credit line.

This requires possession of the Social Institute PIN and the tax code. If you do not have the PIN, you need to apply to the Institute. Staying within the scope of the request, we must underline other provisions of the social security institution.

Public employees in operation will have to provide the request to the reference administration, while pensioners, in addition to multi-year loan web applications, can also rely on the Contact center, which answers the 803 164 number from the fixed network, and the patronage.

All information on online calculation Multi-year loans

All information on online calculation Multi-year loans

The Social Institute website is also an important tool for calculating the repayment of former direct Government Agency loans. Calculation that is produced using another online service, the one called “Public Employee Management: simulation of calculation of small loans and multi-year loans “.

The user will have to enter the data that will be used for the processing of the repayment plan.

Differences between small Social Institute loan and direct multi-year loan

The direct multi-year loan is a product ex Government Agency and therefore is now administered by the National Social Security Institute. The regulation that defines its characteristics provides that the repayment project is structured over two time intervals: five or ten years.

The direct multiannual uses the methods of repayment of the credit typical of the assignment of the fifth. The installment is processed in the light of a fixed interest rate of 3.50%. The funding provides for specific restrictions on access. In fact, only civil servants and pensioners registered in the unitary management of credit and social benefits can achieve it.

The same ones that can apply for the Small loan, which however differs from the Multi-year from various points of view. The most obvious aspect is perhaps the interest rate: 4.25%. But the duration, from 12 to 48 months, and the use also change: the use of the loan is not associated with specific limitations.

Borrowing for renovation

 

Do you need to borrow money to rebuild, rebuild or renovate your home? A renovation loan can pay off in the long run because it increases the value of the home. There are several ways to borrow for renovation. We figure out the options!

Raise your mortgage

Raise your mortgage

An alternative to financing the construction is to borrow the value of your existing home. Since you are mortgaging the home as collateral for a mortgage, the interest rate is generally lower for a mortgage, compared to a private loan. However, you need to take into account how much you need to repay. If you currently have a low mortgage and borrow the value of the home you already live in, you may get more than 70 percent of the loan in terms of the home’s total valuation. If you borrow money for more than 70 percent of that value, you will need to repay two percent a year.

If you instead optimize the loan so that you end up with less than 70 percent in mortgage, you only need to repay one percent per year. All loans below 50 percent, on the other hand, are completely amortization-free. What applies to repayments is governed by the government’s repayment requirement that was introduced in 2018. Before you decide how to lend to your renovation – make a calculation where you clearly see what an extended mortgage will cost you each month.

Take out a private loan

Take out a private loan

If for some reason you do not want to raise your existing mortgage, you can take out a private loan to finance renovations. You do not have to mortgage the housing and instead you get a loan that is completely separate from your other mortgage costs. Since you do not pledge anything to take out a private loan, you cannot also fix the interest rate. Instead, the interest rate is governed by the Riksbank’s national policy rate, the so-called repo rate. The banks also set interest rates based on your ability to pay and creditworthiness, which means that all loan terms are individual.

The total cost of a private loan is based on the loan amount and repayment period, but also on the effective interest rate. By this is meant the nominal interest rate plus all additional fees for planning and notification. Therefore, it is always a good idea to carefully review all fees before you take out a loan, as the terms may differ considerably between different actors. Father Brown’s loan calculation is a valuable tool for calculating the cost of a home loan. The digital service allows you to purchase bank loans directly from your computer, mobile or tablet.

Building credit

Building credit

Another way to borrow for renovation is to sign a building credit. Then you get a credit granted by your bank or lender, which is redeemed when the construction itself is completed. The advantage of the credit is that it can be difficult to calculate the total construction amount before you are completely finished, and this way you do not have to take into account unexpected costs. The credit is simply not paid until the entire construction is completed and you know what the total amount landed on.

The main difference between building credit from a mortgage is that you need a home as collateral for a mortgage, you do not need a credit. Those who want to build a brand new home cannot normally pledge this home until the construction is complete. However, it is possible to do with a building credit. When the construction work is completed, a valuation of the home is made and the costs incurred through your building credit are paid with this type of mortgage. Don’t forget that the interest on a building credit is often negotiable, just like any other loan.

A long-term investment

A long-term investment

Renovating the home often adds value and can be a smart investment for the future. Even if it costs you a lot to change the kitchen or build a new bathroom, it makes the home a better standard and thus a better value in the market. Once you have completely renovated this time, you can always make a valuation with a real estate agent. The valuation can be used as a basis for negotiating the mortgage interest rate with your bank. However, you may only make such an assessment every five years, so think about and plan at what times it is best to make an assessment. If you are planning to renovate again in a year or two, it may be wise to wait to do a market valuation until you feel more ready

Whichever loan option you choose, remember to always compare the banks’ various interest rates and loan terms to find what suits you and your finances best. Here you can make a quick and easy loan check that gives you the best chance of finding the best price on your loan.