Who can apply for a loan?
A loan , or financing, is a sum of money that a bank or a financial agency grants as a loan. The sum will be repaid in monthly installments, with the application of an interest or, in the case of loans at rate 0, with the payment of the due practice and investigation costs.
The various types of loans
There are various types of loans that a person can ask for, to face a costly expense or to raise his finances in a moment of difficulty:
- mortgages: they are given only on important figures and with a very specific motivation, for example the purchase or renovation of a house or the purchase of real estate to start a professional or commercial activity
- loans on credit cards: these are special credit cards, revolving calls, which instead of paying the entire amount of monthly expenses for the following month, spread the sum of purchases on different monthly installments, applying a percentage of interest
- financing: this is the possibility of making a purchase and paying it in installments. Usually, it is the same shops that deal with making the request of the case, directly at the time of payment of the purchased good
- personal loans : they are the most sought after and most useful solution in case of need for small sums, which do not serve to purchase a specific object or service, but to obtain liquidity
How do you apply for a loan?
For each type of loan there is a special procedure to follow:
- for mortgages you must go to the bank where you are current account holder or, at least, to a bank where you will necessarily have to open a current account. To obtain a mortgage, all documents relating to the property you are buying or the business you are starting up must be delivered when you sign the contract.
- financing for the purchase of a specific asset is requested, on behalf of the customer, directly from the store that sells that good or service
- revolving credit cards or personal loans , on the other hand, are required from financial agencies that deal with loans or private loans
For what reasons can I apply for a loan?
We have already seen that, in the case of mortgages or loans, the money requested on loan must correspond to the exact cost of a property, a good or service you are buying, of which you must present all the commercial and legal documentation. As for personal loans , on the other hand, you are not obliged to specify to the donor agency what it is used for, how the loaned amount will be used, spent or invested. The reasons why a person can choose to apply for a personal loan are many and can have different causes:
- a moment of economic difficulty and the consequent need for liquids to be able to reach the end of the month, pay the bills, the installments of the rent or another asset that you are paying in installments, for example the car
- the need to do small jobs for the home that, however, do not have a cost that would justify the lighting of a demanding mortgage
- in case of marriage, to have the liquid money to face the setting up of the new house, the purchase of the furniture or to enjoy the honeymoon
- to make the holidays without having to affect the capital
- to finance the studies of children, in the absence of liquids, to deal with school expenses and the first installments of the rent, if they go to stay away from home
What requirements do I need to apply for a loan?
Financial agencies, of course, prior to lending money evaluate the request and the person. First of all, check that the applicant is not registered in the Bad Payers Register. This is a register where the names of those who, in the past, did not honor mortgages, rents, loans are included. Anyone who has been included in this database, however, is aware of it, because it is a legal act that is done after having communicated it to the Bad Payer. The other fundamental requirements to have access to a personal loan are:
- age between 18 and 70, although some financers are elastic with regard to age and accept to lend money even to older people
- an income: as an employee, as a freelance or as a pensioner. Depending on your situation you will have to present to the agency: the last paycheck, the last tax return or the last credit of the pension.
- some financial institutions consider the income obtained from rents as houses, buildings or land for rent valid, if they can be demonstrated with a regular contract
- in the case of employees, the employment contract must be for an indefinite period. Alternatively, the duration of the contract must cover the entire duration of the loan. An employee with a 12-month contract that has just begun, therefore, can access a 6-month or 12-year loan, but not one at 24 months
- be resident in Italy or in possession of a residence permit covering the entire duration of the loan
- have a current account, in any bank, of which the statement of the last 4 months must be presented