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Independent Credit Advisor

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The bank employee checks that all the documents, certificates, and forms required to apply for the loan are included in the loan application package. If something is missing, it indicates to the client or credit intermediary and states in the bank’s management system that it is “under replacement”.

t is important to note that in most cases, the credit assessment process will only begin after you have submitted the complete credit application package – except in a few special cases, such as pre-credit valuation.

Based on the data of all persons involved in the transaction, the agent inquires from the Central Credit Information System whether someone is on the BAR list, and if so, in what condition (active or passive)?

Are the loan application forms properly filled out?

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After that, the submitted papers will be checked one by one to make sure that all the required data is filled in and that the appropriate boxes are ticked. If you find a problem, ask the customer to fix it.

Are the attached certificates and declarations properly filled in? Apply to?
Are the certificates (eg employer’s certificate, ID card, etc.) correctly filled in, do they contain what they contain, are they signed and, where appropriate, sealed? Has any of the certificates expired? For example, your employer or APEH certificate is valid for 30 days from the date of issue, after which you will need to submit a new, fresh one.

Compliance testing of minimum conditions and parameters of loan demand.
It is important to clarify at the outset whether there is any fact that may be an obstacle to applying for a loan yourself. This includes the length of the client’s employment relationship, the age of the claimant (s), and the existence of documentation regarding the persons to be compulsorily involved, such as the beneficial owner of the property.

Credit evaluation process:

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Data recording

The administrator records in the Bank’s IT administration system the main customer and real estate information, contact details and any other data related to the loan application that will serve as the basis for the credit assessment. This system processes the process step-by-step so the machine won’t let go until something is missing.

Ordering a valuation

For most banks, the management software automatically orders the valuation at the time of recording, usually randomly identifying one of the valuation partners.
Of course, there are banks where the valuation can be done before applying for a loan, with one (or any) of the valuation partners designated by the bank. Valuations are usually valid for 90 days, after which they will need to be updated when applying for a loan.

The appraiser will contact the client

At the given phone number, time is negotiated. At least one property owner must be present at the valuation, but this is usually not strictly mandatory and controlled.

Receipt of a valuation report

The appraiser either sends the appraisal to the bank via a computer interface or sends it in writing to the client or clerk.

Investigation of real estate parameters

Investigation of real estate parameters

In some cases, the valuation you receive may be overridden by a bank technician, or you may change the values ​​previously determined. The transaction value and collateral value of the property, the location of the property, the condition of the property, the type of masonry and the ownership of the property are monitored and recorded. The carrying capacity of the property is determined. The amount of credit the property can “hold”.

(Depending on the bank and the clerk, they can inform the client about the accepted value of the property, but this does not happen automatically. If we are not satisfied with the valuation as a client, we have the right to appeal or request another from another bank partner. right of last word.)

Examination of personal “parameters”

The personal details of each person involved in the credit transaction are carefully reviewed by the administrator and the decision maker to check their authenticity and adequacy. At this stage, the personal parameters are criticized, and if something goes wrong, they can either reject the credit request or request a replacement from the client. (This may not be the case if you are alert at the outset to the credit broker or the bank clerk who is applying.)

Examination of income, creditworthiness

Examination of income, creditworthiness

This part of the process determines the amount of credit the customer is entitled to. If the amount is less than the amount requested, the loan application will not be rejected, but an offer will be made to the applicant. It may even be the case that after negotiation, beneficial details are discovered and the loan amount can be raised.
It is checked how much income the bank can take into account based on the certificates and statements submitted. What is the client’s cost of living, is there any extraordinary but regular expense (eg child support fee) to pay off his / her loan other than the one being claimed? Is there a declined item on your current account statements due to lack of funds? If you have an overdraft credit line, how does the customer manage to often exceed their credit line? If so, how much? Are there regular incomes (eg child support fees) that the bank might count on?

Decision

Normally, within 1-2 weeks of the real estate valuation being made, the bank will make a formal decision on how much, for how long, and under what financial terms?

It is important that the bank usually maintains this decision for 2 months, during which time the loan agreement can be signed. It is also important that a bank can withdraw a positive decision at any time before it disburses, refuse to apply for a loan (my career has been with one client for 8 years, hopefully it will not happen again for at least another 8 years because it does not feel good – ed.). It is good to have a plan B if you know which bank to go to.

Concluding a contract

Concluding a contract

Appointment
The clerk will contact the client after the credit decision and offer the client a date to sign the loan agreement at the branch.

Preparation of loan agreements

Personalized wording of credit agreements is ready. There is a basic contract, which the bank administrator and / or lawyer modifies, complements and fills in with the customer information.

Posting of credit agreements

Banks have automatically sent the contract to the client for prior study since the Code of Conduct, and will also be sent by email to the notary’s office, which will include the bank contract in an authentic instrument.

Signing of loan agreement, notarial deed

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The loan agreement (and the mortgage agreement) is first signed at the bank branch and then signed by a notary in a deed. At the notary’s office, it is enough for the client (s) to appear, not the bank clerk. This is the time when a unilateral notarial deed is drawn up and the client makes a unilateral declaration of debts in favor of the bank). This type of contract can thus take up to two consecutive days, but always in the order given above. We do not need to bring the notarial deed with the Land Registry, only the loan and mortgage contracts signed by the bank.

There are cases when a notary’s office employee must be present at the bank branch signing, because notarial deeds can only be prepared in the presence of both parties. This is called a bilateral deed and its fee will be higher than a unilateral deed because it is larger in scope and is also subject to a withdrawal fee because the notary goes to the bank branch.

Tips to save on the market

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How much do you spend each week, every month, every year on the market? If you are the one in charge in your house to supplying the refrigerator and cabinets, you have probably noticed the increase in price in the products. The budget for food and groceries is just increasing, and the blame for this is partly because of inflation. So we prepared this post with some tips to save money with the market.

Choose an appropriate place that sells only foods

Choose an appropriate place that sells only foods

When it comes to shopping, it is best to drive freighter, to open markets or to smaller markets. People who go to the supermarket to make their purchases end up choosing the types of stores where they find everything, after all, they find this type of establishment practical when faced with a great diversity of products and to be able to buy a great mix in the same place.

The problems are that the prices are higher than in the medium and small markets, because the expenses are higher in the larger supermarkets. However, when the buyer is already there, he ends up not resisting and takes the product, even though he knows that he is paying more expensive, because he thinks about the work of having to move to another place, the expense with gasoline, with parking and thinks it does not pay.

Make a shopping list

Make a shopping list

Always have a shopping list with everything you really need to buy and focus on it. This will prevent you from making impulse purchases, those in which you add in your cart unnecessary products or just to satisfy your whims of the moment.

To help you schedule yourself weekly, you can also pre-determine a meal schedule for the week and the necessary ingredients. Put a piece of paper in the refrigerator and write down the products that are ending up.

Direct your eyes down

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Marketing is a complex and very efficient science. So you do not realize most of the mechanisms that are created in the stores and in the markets to get you to buy and spend more on the more expensive products. One of these mechanisms is to put at eye level the most expensive products, the most prestigious, the most likely to be pushed into the cart. Thus, these products are more colorful, flashy and their packaging is the most elaborate. But they also cost more!

Learn to look down when standing in front of the shelves. The products may be less beautiful, the packages less colorful and simpler, however they are often as good as those exposed above, and of course, much cheaper.

Keep an eye on the offers

Do not hesitate to take advantage of the offers brochures. These small economies may be worth it. But do not confuse the reduction of real offers with misleading terms. A product “special family package” does not mean that the price per kilo is cheaper. Remember to always compare.

Do not shop hungry

Before you go to the market, eat! Or at least your shopping in a half-time between meals to your shopping. With a full stomach and in the drowsiness, you will be less tempted to buy things you do not need, simply as a reaction to a feeling of hunger.

Here are some tips to save on the market. If you’d like to discover more ideas like these, read our article with 4 price survey sites to help you spend less on shopping .

To find out if you’re spending a lot on the market, download the Gustav von Aschenbach app available on IOS and Android systems. And you, what are your tips? Tell us in the comments!

 

Save on Transports: Carpooling vs Carsharing – Save on Transports

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Briefly, carpooling is based on sharing a car between passengers with matching destinations and times. Thus, drivers with their own car can choose to share it with passengers who also share the same route.

This is a particularly advantageous solution for long haul travel as it is based on the principle of dividing travel costs – tolls and fuel – among all passengers.

How it works

How it works

 

Combining hitchhiking with a driver is very simple and there are already several sites that almost automate this task. We have already mentioned a few in this article, but we will remember them here and add others to the list:

    • Devil
    • Travels
    • Boleia.net
    • One night
    • Blablacar
    • Carpoolworld

The usual procedure on these sites is to register and choose your profile (driver or passenger). If you are the driver, you register a travel offer defining the origin, destination, date, time and contribution (price) per driver. If you are a passenger, just look for offers on the dates you want and choose the one that best fits your budget, hourly availability, etc.

The price of travel varies from lot to driver to driver, but Lisbon-Porto trip usually costs between € 12 and € 15 (€ 19.50 at Rede Expressos), while a trip between Lisbon-Faro can cost between 10 € 15 (€ 18.50 for the Network Express).

Advantages and disadvantages

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The carpooling is a good alternative to typical land transport covering long distances (eg Lisbon-Faro-Lisbon), since the prices are flexible – there are several price offers, some lower – and promotes human interaction, making travel more dynamic and less boring, especially when they are long. (Ie

As a disadvantage, there is the question of safety, or rather the uncertainty about safety, since the basic concept of carpooling is based on accepting or offering carpooling to strangers. There are, however, some precautions to reduce this fear:

  1. Exchange contacts with the driver / passengers and share them with someone you trust before the trip. Do not forget also to give information about the route;
  2. Most sites have a rating system for both drivers and passengers, to make the experience safer;
  3. Make sure you have friends in common with the driver / passengers. On the Umcoche website, it is easy to check this information through Facebook, since the registration on the site is made from this social network.

Car sharing: rent a car without bureaucracy

Car sharing: rent a car without bureaucracy

The carsharing is briefly an alternative system of car rental. This system allows you to rent a car easily, without bureaucracies, monthly fees, registration fees or loyalties.

Carsharing is a kind of mixture of individual transport and public transport, encompassing the “best of both worlds”: the flexibility and independence that counts when you have a car and the cheapest prices of public transport, with fuel and insurance included, making -a good option when going, for example, to a vacation destination that has carsharing parks where you can leave the rental car.

How To Save Money With School Books | Debt

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This solution may give a little more work because it implies an initial research, but the cost is minimal and we do not need to use the credit card to get discount, nor do we need to return to the commercial surface in order to use the discount . It saves your wallet and still saves the environment.

Large Surfaces Have Largest Market Share

Large Surfaces Have Largest Market Share

Unfortunately, “competition laws” do not work in the schoolbook market. There is simply no competition in the distribution, with the maximum discounts being 10% on the sale price. There are some promotional campaigns that end up bringing with you some hidden dangers.

The biggest discount for the purchase of schoolbooks is currently achieved in Jumbo. If you place your order in the next few days you will be able to have access to a 10% discount plus 5%. But only if you make the payment with the Jumbo card (a credit card).

Being a purchase with a credit card and if you do not make 100% debt repayment, you will pay interest on the purchase. And in this case, the additional saving of 5% may be significantly lower, or even negative, if you choose to pay interest on the card.Ultimately, this “discount” of 5% ends up acting as a decoy to attract the least attentive. They charge interest to the customer without his realizing it.

Remaining Distributors With 10% Discount

Remaining Distributors With 10% Discount

In the case of the continent, the discount offered is only 10% in card. You do not have a direct discount on the value of schoolbooks, you will always have to return to the continent to use the discount amount. This situation does not happen with the other institutions that also offer a discount of 10%, as in the case of Fnac, the discount is direct.

Swap Banks Can Be the Solution Manual

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An alternative solution to the acquisition of school textbooks are exchange banks. There are more and more options for parents to get school textbooks at zero price or at a nominal cost, provided that at the end of the school year they return the schoolbooks in good condition. Simply search on Google for “Book Exchange” and find various communities and organizations sharing and exchanging books. Some are even municipalities.

This solution may give a little more work because it implies an initial research, but the cost is minimal and we do not need to use the credit card to get discount, nor do we need to return to the commercial surface in order to use the discount . It saves your wallet and still saves the environment.

How to Save on Vacation | Credits

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Choose lesser known destinations. Lower demand may translate into friendlier prices, and you can find high-quality holiday locations at lower costs. Take advantage of airline promotions. Subscribe to the newsletters of the companies that interest you the most and you will see that last minute deals and opportunities will arrive at your email.

Where to stay? – Save money on accommodation

Where to stay? - Save money on accommodation

  • Buying packages that include flight and hotel can help save money. All the above mentioned search engines offer also the possibility to search for accommodation at good prices;
  • Forbes magazine highlights the Airbnb website as one of the best in the vastness of travel web sites. Airbnb is an easy and secure solution that allows even less frequent but equally fun alternatives such as attic boats or even tree houses in 192 countries.

Where to eat? – Save money on food

Where to eat? - Save money on food

  • When planning accommodation, stay in a place with easy access to a supermarket. You’ll save on coffee shop or even meals if you can get some food items you can carry or eat at home.
  • Fill yourself with water at home. A bottle of 33cl of water purchased next to the beach will cost about € 1, while if you fill it at home it will cost about € 0.06 …
  • If traveling with children, it is essential to plan the meals you want to make at home and make use of the farnel to avoid considerable expenses in the usual snacks outside the house.

What to do?

What to do?

This is a question whose answer varies greatly from person to person. Here, we advise you to visit the SpottedByLocals site that brings together a number of places of tourist interest recommended by the natives.

The surprises are immense, including lesser known but equally beautiful places.

Other aspects to consider

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  • We have already said it, but we have reinforced it again: define the budget for each of the above categories, in order to guarantee the financial stability of the household. In this budget, include travel expenses (plan or private transport) and accommodation, set a maximum ceiling for usual purchases and souvenirs, assign a maximum amount of daily expenses to each family member, and account for all expenses that may be associated with your vacation , such as the purchase of necessary clothing and equipment, insurance, vaccines and documents;
  • Contemplate the possibility of unforeseen events (losing a flight, lost luggage or even robbery) and ensuring the existence of a working capital for this situation. Do not forget also our tip of use of the insurance of the credit card;
  • Use your credit card in moderation. The advance planning of your vacations can be decisive to enjoy a rest of quality, leaving some money to amortize credits.

How to Decide How to Save? | Mortgage Loans

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The financial product with the greatest relevance in the life of most Portuguese families is the credit for housing purchase. The importance of this type of financing is assumed to be too significant, not only because it represents one of the financial commitments with greater expression but also because of the reduced margin of maneuver to be renegotiated.

Unfortunately, the weak dynamism of the rental market in the past has pushed many households into the banks’ drafts, and it is now very difficult to meet the monthly installments. Therefore, it is necessary to know the general characteristics of the Housing Credit, which will be described here.

Purpose of Mortgage

Purpose of Mortgage

The Granting of Mortgage Loans is regulated by Decree-Law no. 349/98, of November 11, which specifies the concession scheme, With regard to the granting of Housing Credit under the Bonus Scheme and Bonus Scheme, these have been ceased to be possible since September 30, 2002.

The Housing Credit concession can take on several purposes, being the most known;

  • Acquisition or construction of own dwelling;
  • Works and improvements
  • Acquisition and construction of own housing – acquisition of land and construction of permanent housing.
  • Transfer of mortgage loan from another credit institution (ICO).
  • Supplementary financing – expenditure on own housing and not covered by the specific housing credit scheme.
  • Home Exchange – Acquisition of own housing for clients with Housing Credit in a Banking Institution and who wish to acquire a new home without having sold the current one.
  • Intercalary for sign – Financing to signal the purchase of your home, for which you already have an authorized loan.

Types of Benefits

Types of Benefits

All the Housing Loan concessionaire assumes an obligation for the Client, and the benefit is the object of that obligation, or the amount to be paid at certain intervals to fulfill the financial obligations assumed in a financing agreement. The benefits may be:

  • Constants: For loans with variable interest rate, the amount of the benefit does not change during the term of the rate. For a Housing Credit with a 6-month 6-month (6-month Euribor) interest rate, the rate is constant in the 6-month period, and the installment is updated when the indexer is revised.
  • Progressive: The installment increases over the term of the Housing Credit, according to the previously stipulated payment plan.
  • Mixed: There is a period of growth of the benefit until it becomes constant.

Types of Housing Refund

Types of Housing Refund

The Housing Credit has different modalities of reimbursement of benefit, namely:

  • Traditional repayment: Repayment of the loan in constant installments of principal and interest in capital and interest, and repayment of capital begins as soon as the first installment. One particularity of this type of repayment is that the repayment of capital is increasing with the passage of time consecutively the interest will be lower;
  • Repayment with capital shortage: Repayment of the loan capital occurs on a future date for consecutive periods according to the contractor between the client and the Financial Institution. During the initial period, only repayment of interest will occur, and the installment in this period is less than the following period where repayment of principal and interest of the loan will occur;
  • Residual amount or capital allowance: In this mode from the capital is transferred to the end of the loan term, therefore, the loan installments will be smaller except the last installment which will be higher according to the deferred percentage (10 to 20% ).

Always Offer Guarantees

Always Offer Guarantees

In order for the Mortgage to be granted to the Client, it is necessary to have guarantees capable of responding to the risk of default. In this sense, as a way of guaranteeing the payment of the loan granted, banks require the mortgage in their favor of the property subject to the financing, although, the client may substitute or guarantee another property or a financial product.

To determine the value of the guarantee, the Financial Institution requests the evaluation of the property and matches the risk of the financing, if the result is favorable the guarantee of the property is sufficient otherwise the Institution may propose to the Client a reinforcement of guarantees, requesting a guarantor or pledge.