With an economy that is struggling to catch its breath and banks somewhat cautious, it is not always easy for Belgian borrowers to obtain an instalment loan. Here are some tips that should help you maximize your chances of finding financing for your projects. Let’s see about the Installment Loans for Bad Credit – Guaranteed Direct Online Application – ARCCT now.
- Apply For An Adapted Installment Loan
Coherence between your personal situation and your request for financing: you know that you will not be able to borrow more than one-third of your fixed monthly income. Therefore, adapt your request to this constraint. If you already have too many loans in progress, clear them before making a new request.
A project related to the credit requested: your loan application must be consistent with your project, choose the most suitable loan formula, instalment loan or another type of credit.
- Compare The Installment Loan Offers
Online: this is the simplest and fastest solution; online loan simulators and comparators will allow you to find offers related to your projects that offer the best conditions.
In the different banks: if you have a particular request or if you want to carry out the simulations with a consultant, you can also move to an agency to compare the various instalment loan proposals.
- Reassure The Bank
Ask your current bank in priority: it knows you, you have a bank history and certainly several accounts or insurance products, and it will be easier to get an instalment loan in a bank who knows who you are.
Give guarantees: sometimes, it can help to make a request accepted, and even if a banker will never grant a loan only because of good guarantees, it is an argument that will work in your favour for a file a little complex.
Reasons to take out a loan
There are times in life when we have to deal with expenses but do not immediately have the money to do so. To buy a house, build or renovate it, for example, but also to buy a car or replace a faulty boiler.
In this case, you can apply for a loan to banks and credit intermediaries. Lenders can possibly advance you the money you are missing. That money, you pay it back in instalments. In exchange for this loan, you must pay interest and fees. There are different types of loans. If you are an individual, you will be offered a mortgage or consumer credit:
A mortgage loan is an amount that you borrow to buy a home, land, or to finance work at your home. Mortgage credit usually involves a larger amount with a longer repayment period;
You plan to buy a car or a new television; you have to organize a wedding, you have to finance private needs? In this case, you can apply for consumer credit. Unlike mortgage credit, the amount borrowed is often smaller, and the repayment period is shorter.
But do you really need a loan?
If you think you need a loan, you must first ask yourself the first question: do I really need this loan? What are the possible alternatives?
If you dream of owning your own home, it is likely that you will have to take a loan over 20 or 30 years for a big part of the price. This is the case for most new owners. Above all, it’s important that you know where you are going in advance: assess how you and your family will manage the monthly repayment of this loan, as this repayment can be a very important item in your monthly budget.
Try to save a maximum in advance. Because the more money you have put aside to invest in your home, the better the terms you can benefit from the lender. The monthly repayment will be less important, and you will save interest!