More and more Belgians can no longer repay home loans

An increasing number of Belgians are finding it difficult to make monthly repayments on their home loan. At the end of 2012, the total amount of overdue mortgage loans had risen to 971 million, representing an increase of 10.8% compared to a year earlier. According to Perry Neets, the head of the Central Office for Credits to Individuals, part of the National Bank, this is a record. The number of overdue contracts has increased to 30,509, which means there is also an increase of 5% there.

 

Difficulties get bigger

Difficulties get bigger

According to Neets, it is especially noticeable that consumers who already had problems face larger problems. It is mainly the longer-term loans that are difficult to repay. If it is already difficult with payments, it appears to be difficult to resolve this and then start releasing on the home loan. Instead, the repayments are skipped to make money available elsewhere.

 

Backlogs on consumer credit

consumer credit

Moreover, it seems that the difficult economic situation is by no means the only culprit, but that many consumers also choose to take out expensive consumer credit. In general, Belgians relatively easily incur debts, for example when they want to buy a new television or a car. In general, the problem payers not only have a home loan, but there are also a few other loans that provide for financial obligations. In order to be able to repay on the home loan, it is important that no other loans are present that demand a significant part of the income. By looking carefully at the possibility of taking out an extra loan, it is possible to prevent such problems.

 

Stricter assessment

Stricter assessment

The banks are a lot stricter and more careful nowadays when it comes to granting loans. This is annoying on the one hand when you need a loan, but on the other hand it makes it less easy for people to borrow. The problems with new home loans have diminished considerably in the last two years, as situations are less likely to arise in which consumers can no longer pay off the debt or the interest rate rises above them. However, according to the Professional Association of Credit (BVK), the problems are not so bad, since the number of defaulters has been around 1.1% for years. Mortgage interest rates are also at a historically low level, which means that consumers pay relatively little interest.

Is there a sense to take a loan to repay another loan?

Does it pay off at all? Is this the way I won’t fall into a financial pyramid that I will find difficult to leave? Many people ask themselves these questions today.

Choosing the right loan for repayment another loan? Do it at all worth it? Will I do not fall into the financial pyramid this way, with which will be hard for me to leave? I ask myself these questions many people today. Choosing the right loan for repayment you can get a lot of another loan, however.

Is there a sense to take a loan to repay another loan?

Is there a sense to take a loan to repay another loan?

Many people found themselves in a situation where monthly installments, and therefore liabilities to banks, significantly exceed their income or simply absorb them significantly degree.

They then start thinking about reduction installments, e.g. by extending the repayment period. And although such a solution is often criticized, in some cases it is the only one a chance to get out of financial trouble.

Because of the constantly growing group of people indebted to banks having problems with timely repayment of installments,
appeared banking products intended for consolidation of debt. They have they help people who can’t regulate debts go to financial straight.

A consolidation loan is intended to pay off everyone’s credits, loans, credit cards or overdrafts. It works on the principle that from the funds of the consolidation loan, all existing debts are repaid towards banks.

Because the repayment period is extended, yes we really pay one, lower installment every month (instead of several). Additionally, as part of such a loan, you can receive cash on any purpose. The best loan consolidation can also be found online today.

Refinancing loan it is also intended to pay off another loan

Refinancing loan it is also intended to pay off another loan

People who want to choose this type of loan lower installments an already repaid mortgage (housing) loan. refinancing is to change the bank to another one – cheaper. To find the right one for self credit refinancing, it is worth using the company’s financial consulting Expander.

All you have to do is make an appointment for a free meeting and with the help of a specialist, replace our existing loan with a cheaper one. Often, lowering monthly liabilities to banks is for some people the only reasonable solution to financial problems. Better extend the loan period and regularly pay installments than allow a situation where there is a shortage of funds to pay off debts.

Credit on credit is sometimes the only alternative for heavily indebted people, who unwisely chose a period repayments, and thus the amount of monthly installments. It is also worth remembering not to take another loan just to pay back before him.