A Blank Loan is a unsecured loan that you can use for exactly what you want – usually for consumption or to collect existing loans and credits. Whatever you need to renovate, go on a trip, buy a car or pay off other debts, blank loans are a good solution!
What are Blank loans?
A blank loan, often called a private loan, is a consumer loan without collateral. Unlike, for example, a home loan, you do not need to put anything on a mortgage and decide the purpose of the loan yourself. Thus, what you buy will not be pledged and stand as collateral for the loan, such as for example. the house in a mortgage.
Compare the interest rate on blank loans
It is easy to apply for a loan of up to USD 600,000 and choose an amortization period that suits you and your financial situation. Then we compare over 35 different banks and lenders so that you can sleep safely with the knowledge that you have received the best loan with the cheapest possible interest rate (effective interest rate 3.01-22.59%).
When you take out a collateral loan (private loan) without collateral, the lender instead relies on the loan and the interest rate you are offered on your ability to repay the loan. Interest rates are always set individually when you apply for a mortgage loan. Therefore, the lender takes a credit report to be able to assess what credit you have as a borrower. Borrowing without collateral makes your financial situation more flexible.
Borrowing for cash
Taking a bank loan to pay the cash contribution when buying a home has become increasingly popular. The reason for this is that the Financial Supervisory Authority introduced new rules in 2010 which say that you can only take a mortgage up to 85% of the market value. If you do not have the remaining amount left aside and want to borrow money directly, a blank loan is a quick and easy way to realize your dream home.
Resolve existing loans and credits
To collect loans expensive loans and credits, you make a free application for a new unsecured loan through lender. The blank loan you take corresponds to the total amount of your existing small loans and credits. Then you use the money to settle the old loans.
This way, you get a significantly lower interest cost each month while avoiding hidden costs such as fees and invoice fees. With fewer loans, your ability to get better loan terms in the future will also increase, which will further reduce your monthly costs.
Because you don’t have to pay high interest rates and hidden fees, you get more money each month after you collect your loans. Money that you can use to repay your new mortgage loan so that you become debt free faster.
What is the difference between bank loans and member loans?
Major banks offer member loans, with a fixed interest rate of around 5%, to anyone who has been affiliated with certain specific unions for at least six months. The interest rate is negotiated between the bank and the union.
Dear children have many names and member loans are really nothing more than a blank loan with a predetermined interest rate. For some it is advantageous but many union members may receive a lower interest rate than 5%. We advise everyone to make a comparison before deciding on the member loan. There are high chances that you can get even better conditions and you have nothing to lose. Within 24 hours you will receive your bids from 35 different banks and lenders.
Benefits of taking your loan through lender:
- We work with over 35 different banks and lenders
- Is one of the main ways of finding cheap car loans
- It is completely free of charge
- Only one credit report is made
- Easy to collect existing loans
- You get personalized service
- You don’t commit to anything
- Offers low-interest private loans
How do I get an even lower interest rate?
To get a really low interest rate when you take out a loan, a good credit rating is required. When a lender decides what interest rate you will be offered, they weigh your credit risk (form of employment, housing, current loan, payment notes and number of credit information) along with your ability to pay (your income and your expenses). Your credit rating is the single most important factor in finding the cheapest mortgage loan on the market.
If you get a salary increase, your ability to pay becomes stronger, which makes it a good idea to make a new comparison because your credit rating has then improved.
It is also worth remembering that if you have taken out a larger loan with the help of lender to collect your small loans, installments and credits, it may be wise to make a new comparison after a few months. Loan details are updated monthly and your old credits will no longer be visible. Fewer loans often lead to higher credit ratings.
Comparing lenders on your own gives you a credit report for each lender you apply to, which can negatively affect your credit rating. Then it is wiser to apply for a loan from lender free of charge, which means only a credit report despite over 35 loan offers.