Loans between individuals and credit

If you are looking to get quick money loans at Group of Financers as a financial company that offers all types of quick loans through private lenders and loans between individuals, we will show you the different options that we currently have.

You can see that unlike other companies we have all kinds of urgent loans, some of them with guarantees (mortgages, car loans, other goods) and others without an endorsement (micro loans, online loans without higher guarantee) amount, personal loans)

If you are interested in obtaining financing through loans between people, either because your bank takes a long time or because you do not have access to it, I advise you to continue reading.

As you will see throughout the article among the credits offered under this form there are fast online loans of all kinds processed all of them 100% online. In some cases the processing and signature will be through the internet (online) in others the processing will be online but the signature will be face-to-face. The good thing about loans between individuals is that the offer is sufficient in the market. Each of these urgent loans has its characteristics, conditions and specific requirements, not all of them being the same.

That is to say, the loans with Financial Credit Institutions that we offer in the market do not have the same conditions as the personal loans or of any of the other options. It is important that before continuing reading you have this clear to process the financing that best suits your needs. Because that is what we are looking for, we offer a wide variety of quick loans so that customers have more options to get what they need.

That is our idea, sometimes it is achieved and sometimes not, but working like this is sure to increase the chances of success. We achieve this thanks to the amount of private and private lenders that we work with, which allows us to offer a wide variety of online loans.

Because that is what the calls offer as private financial or alternative financial options, financing options outside the banking system that are normally processed through private capital.

Quick loans and conditions:

Depending on the funding you wish to obtain, this will have some conditions or others. We are not comparing here with bank loans as these are not processed by us, we are comparing them within our private loans. If we start to compare for example the micro loans with these loans of very small amount with mortgage loans Do these two loans have something to do?

The truth is that no, as happens with these two loans happens with the rest of quick loans offered by lenders. By the way, when talking about private lenders or private lenders we are not talking about investors offering this financing, we are talking about the investors that the financiers have.

Private financiers work with lenders, in other words, while banks lend money thanks to their clients ‘deposits (savers’ current accounts, for example) private equity companies, on the other hand, work with investors.

These investors are called lenders because ultimately they do what they do, they lend money to third parties through the intermediation of the financial company, either with a guarantee or without an endorsement. At the legal level here there is no difference with regard to the loans offered by banks because the client signs the financing offer he wants. That the creditor is a financial, a lender or a bank is really indifferent, the important thing is to sign a financing offer that suits what you were looking for. Even microlenders work in the same way what happens is that these investors are part of a company.

Among the private capital loans that we can name in the market would be the micro loans (the vast majority of online loans are in fact here), vehicle loans, private mortgages, some loans for companies…. Currently the market for loans between individuals already represents 30% of the total financial market, and growing.

The conditions therefore in each loan vary very importantly, here you can do two things, inform yourself through the web about the characteristics of each loan or you can call the lender to tell you which of your loans best suits to your situation

Quick credits and documentation

What documentation should be provided in these credits between individuals ? That depends on which loan you want to process. Because there are not only differences in financing conditions, there are also differences in everything else. A the level of requirements as well as in the documentation sent there are many differences between loans.

In micro-loans, for example, the documentation requested by online finance companies is minimal. With DNI and bank card most of the microcredit companies analyze and study the operation. Then, of course, the client will also have to fill out a contact form in which they state their financial situation but this is independent of the necessary documentation.

Another loan where you do not ask for too much documentation is in car loans, which says cars says motorcycles, that is, loans on vehicles. Here, providing the vehicle’s documentation (vehicle’s technical file, permit for circulation, photos as well as the holder’s DNI) is sufficient. Where you are already starting to ask for more documentation is in the quick loans without a higher guarantee as well as in the mortgage loans.

In the personal loans according to the processed credit, it is usual to request documents that justify the income, the domicile and even the income of the clients. When it comes to a personal credit, we must take into account that the financial companies will have much more in mind the indebtedness as well as the income of the clients.

In spite of being also these particular loans it is sure that it influences more than in loans with endorsement. That is also why in the end transact online loans without endorsement is usually slower than doing so with endorsement. With regard to private mortgage loans you can already imagine the documentation that is requested which has to do with the property (simple note, ibi, photos, ID).

Financial companies also usually request documentation of income in some cases, although this is not necessary. It is not because in fact many of these loans are signed under the form “Loans without payroll”. Because a person does not have a demonstrable income in the form of a payroll, a pension does not mean that he does not earn anything every month.

Throughout the years we have managed many loan operations where clients had incomes each month being able to cope with the loans but these were not demonstrable. In the case of credits with Financial Credit Institutions (national association of credit financial institutions) this being a delinquency record, the requested documentation depends on whether the client transacts with a guarantee or without an endorsement.

If you are processing a loan with a guarantee, the documentation will be the one requested in the vehicle or mortgages, on the contrary if you are processing without an endorsement in addition to the usual documentation in the personal loans you will also have to send the letter of the Financial Credit Institutions.

The letter of the Financial Credit Institutions is the letter that must have sent the record of delinquency in case of haberte included inside, once you have the letter you will have to go to the web of the Financial Credit Institutions and from there through the corresponding section request your information.

It is important that if you want to obtain this information do not call any phone (the official website of the Financial Credit Institutions does not have phone numbers) as there are web pages that imitate this website with special rate numbers. There is only one way to know the current debt you have in the Financial Credit Institutions and it is through the official page.

Financial companies may also have access to this information but do not usually give it.

Private lenders and offer

What type of loans do these particular lenders make? If we start analyzing the market, we will find out how most private financial entities only offer guaranteed loans. That is, they are mainly focused on mortgage loans or private mortgages as well as loans on cars and motorcycles. Then we have isolated cases like ours where apart from also making personal loans we also accept other guarantees such as boats, bicycles and other goods.

It is true that except for loans on ships that are signed at the national level and loans on bicycles and other goods are signed in all delegations. It is not usual to find financial companies such as Group of Financers that, through private capital, can also offer loans without collateral. That does not mean that personal loans are not offered through private lenders, if it is done. They are a minority is true and the amounts that can be obtained are less than loans with endorsement but that option also exists.

Why do not private financiers usually offer loans without collateral? They do not do it because it is much more difficult to find people willing to lend without endorsement than with endorsement. The answer is that easy. We can say therefore that the popular loans in the loans between individuals are the mortgage loans.

Almost all private financiers are in fact specialized in offering this financing in the form of a mortgage. In our case it is not different, in fact it is of all our quick loans the “star”.

Mortgage loans and their characteristics:

Through these mortgage loans we can sign 100% flexible loans according to the client’s situation. We can sign the operation in the short, medium and long term. At the level of terms in fact, the terms range from 1 year (which is what we usually put in the liquidity loan to sale) to 20 years through the payment of monthly installments.

The average term is usually around 5 years and customers can also make the cancellation in advance if they wish. Besides, the great advantage of these urgent loans is in the fact that they can also be signed with a lack. That is, we can get to sign a mortgage so that customers are only paying interest on the monthly payment leaving the borrowed capital for the end of the return.

In practice, clients make a very good use of this financing, it is usually used to solve difficult situations (hence, they are also called difficult loans )

How are mortgage loans used?

Mainly to get loans with Financial Credit Institutions, as loan to cancel debts, loans to get fast money of medium or high amounts, loans to finance the creation of companies…. Generally there are two reasons, the first in our opinion is the speed because unlike bank mortgages these particular loans are signed in a week and not in two months as it passes through the bank.

Then we must also take into account the fact that these mortgage loans to not take into account aspects as if the customer is in some record of delinquency, Financial Credit Institutions….are the ideal to get complicated loans. They are also frequently used when clients need a loan pool or debt reunification.

Steps to process these urgent loans

Once you know the different urgent loans that can be processed, how are they processed? In our opinion making a process is very simple, now, if you want to do things right we advise you to follow these steps one by one.

1) Before even doing the processing, what we advise you is to report on the web about the loans processed. It is important to do it because it is convenient to know the requirements and conditions of the loan that we wish to obtain. It is also an error to remain alone with the name of a loan. If you read “Asset Loans” by staying there alone, you may think that the lender offers loans with no collateral and with endorsement of all possible amounts, but that is not the reality. Without going any further we offer both fast loans with Financial Credit Institutions but without endorsement the maximum amount is € 2000.

Therefore, we advise you to report on the loan you want to process so that you do not lose time or lose it to the financial agents that serve you.

2) Once you know the loan you are interested in processing the second step is to make the request. Our recommendation is that you have the documentation prepared (when you inform yourself about the loan in it, you specify the documentation that is needed) If you do not have the documentation prepared it is not that anything serious happens, the only thing is that the processing will be somewhat slower.

3) With the submission of the documentation the financier is in charge of studying and analyzing the loan. This phase may be greater or lesser depending on the private credit processed. In micro loans this term is usually not more than 30 minutes, on the contrary in mortgage loans the term can last between 24 and 48 hours. As you already know, each loan has a different processing period, fortunately, since online loans have been reduced this term. Of course you can process a loan does not mean in any case that you get approved.

There are requests in which it seems that clients can get money quickly and then the operation is denied. Do not be surprised if this happens, it is not what the financial or the client wants, but it can happen.

4) Here, the finance company answers customers about whether the loan is approved or denied. As a general rule there are easy loans and others, on the contrary, more difficult. Those with endorsement for example are easier to get approved than denied because for that the financial before starting the application will have checked with customers the value of the guarantees.

5) If the approved loan is made, the financial institution transfers the offer to the client, who decides whether or not to sign the loan. If you are interested in signing it, there is only one step left which consists in signing the loan. Here happens the same as always, depending on the loan processed this will be signed in one place or another. Private mortgage loans by law like all mortgages have to be signed in a notary, vehicle loans are signed in office on the contrary like the rest of personal loans.

Only 100% online loans such as miniprestamos and some other quick credit offered on the web are signed without displacement by customers.

What is the market opinion of loans between individuals?

Although you would not have to care what the market thinks that loans between individuals have been very well accepted in our country. Keep in mind that the current private fast loans that we see now are not the same as those of 10 years ago. The private capital sector has been professionalized in a very important way allowing financial companies to offer a better quality in their services.

Many of the particular lenders that we see now in the market are new. And for lenders we talk about both investors and financiers and companies that are willing to lend money. Credits between people have been growing at a very important rate in recent years. And although there is talk that these represent only 30% of the total this is not entirely true.

Only if we take into account the amount in the loans this percentage can be applied, if we take into account the number of loans processed we will see how the percentage is even higher.

What explains the growth of private loans?

This is explained by the fact that it is easier, easier and faster to obtain loans than bank loans. Truth is that they are more expensive loans than those we see by bank but this is something inevitable because of the operation of each financial institution. Banks can capture savings (now even pay no return on deposits to savers) very easily and can even buy money in the interbank market at interest rates almost given away.

None of this, on the other hand, is what private financiers have, which translates into higher costs.

Even with this, customers are aware of the advantages of these private equity loans, not have to pay anything (payroll, expenses) as required by banks, the speed of processing and the lower requirements are more than enough reasons.

If you also take into account that the banks have not borrowed money in recent years, it is easy to understand the growth of these private equity companies.

To finish from Group of Financers we hope that with this article you will know better these loans among individuals being fast online loans offered by companies outside the banking system.

If you need to know more about these loans or if you are interested in knowing the different credits that exist in the market in this web you will be able to discover them.

Stay with us as well as all this we offer free financial advice.

If you have doubts about a loan, participate in the web, make your query and our financial advisors will give you an answer. For example, if you want to know how the mortgage loans are signed or if a financial company has offered you an option such as a retro-covenant loan and you do not know what it is, you can always contact us. Important, queries about loans offered by third-party financial companies will only be resolved through the comments (Participate in the web) and never by telephone.

You can do it in two ways, by going to any of our articles and at the end of the same write in the comments section your question (this same at the end) or you can do it in the request tab.

Author: Beulah Weaver