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Almost every person (46%) will do renovation work in his home or apartment. They included, among others Finishing walls and ceilings – painting and filling, laying floors or replacing and laying tiles. Despite the fact that most of us renovate finances our own funds, there is often a need to borrow money for this purpose. What loan can be taken then?

To finish the flat, you can borrow money from the bank, but you must have your own funds, adequate creditworthiness and good credit history. You can, for example, credit or mortgage loan for finishes or cash loan from the bank

Mortgage loan for renovation

Contrary to popular belief, a mortgage does not have to be used solely to finance the purchase of a residential property. It can be successfully used with the thought of renovating your premises. Finishing an apartment for a mortgage requires a fairly long procedure, but thanks to this you get a loan with relatively low interest and principal installments.
All because it is a secured loan. When taking it, it is necessary to establish a security in the form of a mortgage on a residential property. The borrower must have an own contribution of 20%. investment value. A renovation mortgage is a special-purpose loan that must be used by the customer in an appropriate manner.

Taking out a mortgage to finish the flat requires creating a cost estimate, along with their schedule. This is a mandatory annex to the loan application. The bank may grant a loan only for those elements that will increase the value of the apartment and are in hand with it. Financing investments such as lighting and furniture purchases will not be financed with a mortgage. It is usually paid in tranches after each stage of the investment. The borrower must confirm the completion of the finish, usually submitting the appropriate photos to the bank.

Mortgage loan for finishing

An alternative to a mortgage for renovation is a loan, also with a mortgage. Thanks to the fact that it is not a loan, it can be used for any purpose, including the purchase of furniture. It is worth considering this option, although it usually entails higher costs than a targeted mortgage.

Cash loan with free choice

If we do not want to be limited by the bank in connection with the use of funds from the loan, but we also do not want to burden the mortgage of our property, then you can take advantage of a cash loan for finishing the flat.
It is characterized by the fact that it is an unsecured loan of any purpose. The bank does not need to be informed what we want to use it for. The lack of collateral results in the fact that the cash loan will have a higher mortgage interest rate.

What should you choose?

A loan or a mortgage, or maybe a cash loan? It all depends on the individual situation of the client. If you do not have specific refurbishment plans or you want to also buy equipment for your flat, a mortgage loan or a cash loan will work better than a mortgage. The latter will be useful if the renovation is extensive and we will need higher funds for this purpose.

Whether you are starting out or want to invest in your activity, an artisan loan is always welcome.

Basically, a lloan is a monetary loan provided to borrowers that must be paid in full or on installments when the borrowers receive their next pay check. The loan amounts granted are typically fairly small and are based on the gross amount of money the borrower earns for each pay period.

 But how do you get such a boost? Tips for getting credit easily, at the fairest rate.

Where to obtain an artisan credit?

The first step before obtaining an artisanal loan goes through the choice of your contact. Today, “professional” type loans are mainly offered by approved organizations, banks in particular.

– A first option therefore consists in applying to a bank. If it seems natural for a craftsman to turn to “his” bank, we should not hesitate to play the competition by going to learn elsewhere. Comparing the proposals allows an artisan to find the most advantageous offer.

– The other option, now often used, is the following: go through crowdfunding on the Internet. Some platforms thus offer to put investors in direct contact with artisans looking for credit. The advantage? Faster response and more competitive rates.

What elements to provide to obtain an artisan credit?

The second step to get your artisan credit is to prepare a loan application. This file includes a certain number of supporting documents, in general:

– a complete presentation of the company;

– a presentation of the project to be financed and its amount;

– the national identity card of the entrepreneur;

– the company’s extract;

– the last three balance sheets or a forecast balance sheet.

Optimizing your chances of obtaining an artisan loan

Once the file is submitted, the banks often interview artisans looking for credit. To put the odds on its side, it is better to prepare for it: the main thing is to emphasize the strengths of the project.

As for participative platforms, the objective is above all to capture the attention of investors. How? ‘Or’ What? By taking care of the written presentation which highlights the ambitions of the craft business and the potential of the project to be funded.

All the convenience in dealing with credit cards makes us often forget our financial limits. We easily swipe the plastic card without thinking about how much money we still have. This will make our debt accumulate continuously until it becomes large and ultimately difficult or even unable to pay.

 

Credit cards make us more consumptive

Consumptive nature increases when we have a credit card. By having a credit card, we often unwittingly buy goods or services that we don’t really need or want. Makes us feel we can afford anything, even though debt is starting to wrap around. Don’t get trapped, think and count our money before you swipe.

 

Credit cards make us fatter

When we use cash to buy food, we will choose food that suits our money conditions. However, when we use a credit card, we tend to buy food that is more expensive, tastier, but less healthy. This happens because we don’t see our true financial condition, and most of the good food is not healthy. Agree?

 

Credit cards make us wasteful

Credit cards provide various attractive promos, one of which is by collecting rewards points that can be obtained if we make a transaction. Prizes that can be obtained with rewards points are very interesting. For this reason, we are often willing to carry out transactions that are actually not necessary just to get additional points.

 

Credit cards damage our good name

This will happen if we have credit card arrears in arrears. With the arrears, the bank will do everything possible so that we pay these bills, including by bringing in debt collectors. Through the debt collector, the bank will do anything so that the bank is not in doubt, from terrorizing the house to confiscation of valuables to personal assets. Remember, don’t forget to pay the bill!

 

Credit cards make us easy to be cheated

Shopping online is a trend now, because it’s easy and can be done anywhere, anytime. How to shop online can be done with a credit card, namely by entering our credit card number and items can be paid for. This convenience can have a negative impact when we give our account numbers to bad people, because with these numbers, other people can also make transactions without our knowledge. So, be careful when giving our credit card information to people or online shopping websites.

 

Credit cards can kill us

Our increasingly consumptive and unconscious nature of our financial capabilities will make us more and more indebted. Then because the debt is too large, we cannot afford to pay it. Terror from debt collectors began to arrive and the reputation of the family was tarnished. Banks, through debt collectors, start confiscating our assets and eventually we have nothing. This can lead to death! Do not let this happen yes, we must always remember every problem there is a way out.

Dare Debt? Must Be Ready to Pay

After knowing the negative effects that might occur if we have a credit card, we must be more vigilant and careful when making transactions. Credit cards will facilitate and help our lives if we can be wise and disciplined in paying bills. That is the key so that we can avoid the negative impacts above. Always remember, if you dare to go into debt, you must be prepared to pay!

 

The choice of duration will depend on the repayment capacity of the borrower but also on his will in terms of monthly payments not to be exceeded.

Duration and mortgage: principle

The mortgage is a financing allowing to buy a real estate and / or to finance works inseparable from the building, the minimum amount of this loan is 75,000 dollars. The mortgage will be granted to the borrower subject to the establishment of a guarantee, which may be a surety or a mortgage. It is also necessary to define the repayment duration in the context of a mortgage, it is on average at least 5 years and can extend over a maximum duration of 30 years. Note that some mortgage credit institutions offer maximum terms of 35 years, under certain conditions.

The choice of duration is important, the borrower can express a wish regarding the duration and the bank will ensure that this repayment duration is compatible with the finances of the borrower. A study will be carried out to determine its repayment capacity and propose a minimum duration as well as a maximum duration.

Duration of mortgage: between cost and monthly payment

The duration of repayment plays an important role on the cost of credit because the longer the duration will be and the higher the interest rates will be. To this will be added the maximum repayment capacity of the borrower each month but also his wish in terms of monthly payments. Some households will set a capped monthly payment not to be exceeded, the interest being to preserve a certain room for maneuver in the household budget and to be able to better cope with the unexpected. This limit also makes it possible to devote part of its borrowing capacity to carry out new projects.

All these elements will therefore be taken into account, but it is also necessary to take into account possible zero rate loans or even the devices facilitating access to property. The bank will have to carry out a smoothing of loan in account of the durations two loans, the traditional real estate loan but also the loan at zero rate (or employer loan). The age of the borrower can play a role because the banks impose an age of end of loan (often more than 90 years) and will also take into account the retirement, for example to offer a loan to tier.

Find out and be advised on the duration of a loan

The duration of the mortgage is not always easy to anticipate because it will condition the obtaining of financing, the amount borrowed but also the monthly payment of the loan. It is therefore necessary to make some funding estimates to obtain proposals and choose the methods best suited to his personal situation. With all the expertise necessary to support you on your real estate project, a point may be made over the duration of the mortgage. The simulation is free and without obligation.

 

It is not always easy for the self-employed to get a loan quickly. This is mainly due to the fact that it takes more time to process an online loan for the self-employed than for a loan for employees. Before applying for the online loan for self-employed, there are a few things to consider. Not all offers are really cheap and it is important to prepare well so that a loan application is successful.

How can a loan be taken out?

The direct bank requires some documents so that a loan can be approved. These documents include a profit and loss account, the trade license and the bank statements of the past few months. The self-employed activity should have existed for at least two years so that the bank can recognize that the company is also successful. As soon as the self – employed documents have been checked, an acceptance or rejection will take place. As soon as the loan application has been approved, the loan amount will be transferred to the applicant’s checking account within a very short time.

What needs to be considered?

A loan for the self-employed is offered by different direct banks. The offers can all be viewed on the Internet and are quite different. In order to find the right one from the many offers, you should first consider how high the loan amount should be. In addition, a budget helps to calculate how much money can be paid for the installments. Then the offers can be compared. A credit comparison can help you get cheap interest rates. A loan is always associated with costs, but they do not necessarily have to be very high.

What conditions can be expected?

As with all loans, the same applies to online credit for the self-employed: the better the credit rating, the better the conditions. Banks make money with a loan and don’t want to do without it. If you cannot have good credit, you have to pay high interest. The default risk of the loan decreases if there is a good credit rating. Those who have Credit Bureau entries do not have to do without an online loan for the self-employed.

The word “collateral” is required here. Those who have collateral also increase their creditworthiness. The most popular types of collateral include sureties and life insurance. It can also be a property, but should only be used in an emergency. Those who can no longer pay their installments can quickly lose their home to the bank.

 

 It is crucial for you as a borrower that the repayment rates for your loan are not too high. So do not expect more than your current financial situation allows. Good conditions and low interest rates are essential for good financing. Many borrowers want the most flexible loan possible. The possibility of suspending repayment for a month is just as much a part of this as free special repayments. If all of these things are true, one can rightly speak of good financing on the subject of interim loan financing.

However, keep a few things in mind so that nothing stands in the way of your loan as a self-employed person, pensioner, student, employee, trainee or unemployed:

1. Only set the loan amount as high as absolutely necessary

As a rule, the basic principle applies: With regard to the subject of interim loan financing, the necessary funds have to be realistically estimated from the start. If you have a clear overview of your expenses beforehand, you will not experience any unpleasant surprises afterwards and can always pay your installments on time. It would certainly not be wrong to plan a small financial cushion, whereby the emphasis is on “small”, because if this buffer is too large, this would increase the liabilities. You should therefore set the amount of the loan as low as possible. If the need for funds has actually been underestimated, follow-up financing in the form of follow-up or top-up financing can be easily compensated for.

2. The structuring of your own finances

If you want to take out a loan, you should assess your financial situation correctly and have precise control over your own income and expenses – including when it comes to interim loan financing. Here, for example, an exact weekly breakdown of your own costs helps: for what things is spent how much money per day? Small amounts of money, such as morning coffee at the bakery or beer in the pub after work, should also be taken into account in order to uncover hidden expenses. This has the advantage that it can be determined on the one hand where there is still potential for savings and on the other hand the optimal repayment rate can be estimated quite precisely.

3. Be conscientious, honest and accurate

It is important to be careful, accurate and honest with all information about your creditworthiness and your own financial situation – Be precise, careful and absolutely honest with all information about your credit rating and your own financial situation. You should allow yourself enough time to compile all the evidence and documents. This gives you a serious picture of your finances. This will no doubt increase your chances of being granted an instant loan or an emergency loan.

How really good mediators work

The intermediary will primarily support you in finding a German or foreign bank for a suitable “loan without Credit Bureau”. In many cases, however, the activity goes beyond the framework of mere mediation and is also expanded through debt counseling. A qualified intermediary will advise you in detail about the financing offer by showing you the advantages and disadvantages. He will also support you in compiling all the necessary documents for the loan despite Credit Bureau application.

Advantages and disadvantages in mediation

Advantages:

• Good contacts also to lesser known institutes and banks
• Consulting service before submitting the application
• Mediation of loans even with poor credit ratings
• Assistance in compiling the documents for the loan application
• Reasoning aid for difficult personal circumstances or large amounts of funding
• Good options on cheap loan interest

Disadvantage:

• Possible fees for loan brokerage
• Risk of procuring overpriced loans
• Doubtful offers are not always immediately recognizable

The contribution credit 450,000 is also worth reading

Since a number of intermediaries have good connections to lesser known banks, there is a high probability of negotiating favorable terms for interim loan financing. It is also possible to negotiate complicated cases. In contrast to large banks, where the credit approval process is largely computer-controlled, each loan application is checked individually. In this way it is possible, for example, to justify a negative entry in the Credit Bureau so that it is not so important during the credit check. In contrast, with normal banks, a loan application for interim loan financing is usually a hopeless undertaking from the start.

What distinguishes serious from dubious credit intermediaries

A reputable broker will invariably act in your best interest when it comes to interim loan financing. In principle, there are no agency costs for you as the applicant, since he receives his commission from the bank.

Four characteristics by which a reputable credit broker can be identified:

• You will receive specific information on target and effective interest, terms and loan amount
• There are no costs for you to obtain financing
• The agent has a website including contact details, address and imprint
• When you call, you can actually reach someone who makes a serious impression

A dubious mediator can be recognized by these criteria

• Financing depends on taking out residual debt insurance
• Proposed financial restructuring
• Unannounced acquisition at home
• Costs already for the consultation and regardless of the conclusion of the loan contract
• Cash on delivery of loan applications
• You will be promised a 100 percent loan approval
• The broker only takes action if you sign a brokerage contract
• Calculation of additional costs or expenses

What are the advantages of interim loan financing for foreign institutions

Whether you need the start-up capital for your new existence, need a new mobile kit or are planning a longer trip – loans from foreign financial institutions are being used more and more for financing. In addition to the classic route to the house bank on the corner, consumers have also discovered the Internet to take out a loan from a foreign institution that exactly meets their needs. The decisive advantage is that the guidelines for granting a loan at foreign credit institutions are not as strict as at banks in Germany. A poor credit rating or a negative entry in Credit Bureau therefore only play a secondary role in interim loan financing. It is generally Swiss banks that finance loans that are brokered online. So if you need an injection of money quickly and have already been rejected by a German bank, this fact could be very interesting. These include, for example, the self-employed, students, trainees, pensioners, probationary workers or the unemployed. It is obvious that this group in particular has a particularly difficult time with regard to interim loan financing.

Why a Swiss loan is a good option

Individuals in financial need are often unable to take out a loan. It is especially the people with bad credit or debts who urgently need money. A Swiss loan can be a real option in such cases. This means a loan that is granted by a Swiss financial institution. A negative Credit Bureau entry is irrelevant for these banks, since no request is made in principle, which makes it easier to find a loan. With regard to the subject of interim loan financing, this fact can almost be seen as ideal.

But you won’t get a loan from Swiss banks without a certain credit check. The Swiss bank will also require collateral and proof of income. With a secured credit rating, the Swiss loan represents a real opportunity for interim loan financing, even if you have a negative Credit Bureau entry.

Interim loan financing: how it works

If you are looking for interim loan financing online, that is, “despite moderate creditworthiness”, you often mean a “loan without Credit Bureau”. Because creditworthiness is checked at all well-known credit banks – if not at Credit Bureau, then without question at another credit agency.

Credit Bureau is by far the best known and largest credit agency in Germany. As a result, almost everyone has a score entry with her. It is enough that you have set up a bank account or applied for a credit card. Then a corresponding credit rating will be created for you at the same time. So you don’t get a “credit without Credit Bureau” from {a reputable financial institution}. However, what could be successful is a “loan despite Credit Bureau entry”. Very few consumers have a “negative Credit Bureau entry”, although many believe it. in fact, the scoring of the vast majority of people at the credit agency is consistently positive

If you intend to make a loan application, it is best to check in advance whether the approval of your application by the bank could be problematic because your scoring (the so-called credit rating) may be so unfavorable. It is also possible to query Credit Bureau’s “Credit Bureau Score” once a year free of charge. If you want to find out what personal information is stored at the credit agency, you can obtain a so-called self-disclosure from the credit agency since 2010. In principle, according to the Federal Data Protection Act (BDSG) Paragraph 34, you have this information free of charge once a year. To do this, you can primarily call up your own scoring (Credit Bureau score), but you also get information about whether someone has obtained information about you in the past few months. You can request your data from “MeineCredit Bureau” at any time. Your score is based on different “ratings”, which are somewhere between 1 and 100. The higher this value, the better the creditworthiness. 100 is the maximum score anyone can get. In this case, an extremely low probability of failure is feared. On the other hand, if someone only has a score index of 50, for example, Credit Bureau assumes that payment difficulties can sometimes arise.

Tip: This is how you can have a negative Credit Bureau entry deleted

It has certainly happened to everyone that he overlooked paying an invoice. Be it a move with a new postal address, a short-term financial bottleneck for which you couldn’t do anything or because of a longer vacation. An open mobile phone bill can also lead to problems at some point. It happened quickly. Suddenly you have a disadvantageous Credit Bureau entry and you have to find out that the application for funding is rejected. It therefore has consequences for applying for a loan if warnings lead to a reduction in the score index.

However, every consumer has the right to have a negative Credit Bureau entry removed for their protection. The credit agency stores large amounts of data. Accordingly, it can happen that the information provided is often incorrect or outdated. As a consumer, you should definitely exercise your right to self-disclosure to have existing entries that are no longer up-to-date deleted. You can request such deletion directly from the credit agency. The condition for the removal is that the claim has been settled within six weeks and does not exceed USD 2,000.

Deletion of Credit Bureau data – your data at Credit Bureau

Without you having to do anything, the entries at Credit Bureau are automatically removed after a certain time. This usually happens:

• after exactly one year for information about inquiries; This information is only provided to Credit Bureau contract partners within ten days
• for loans 3 years after the year of the full repayment (to the day) of the loan
• for reports of due claims, each after a period of 3 full calendar years (that is, at the end of December 31 of the third calendar year following the entry)
• in the case of claims from online shops or mail order companies, provided that these have now been paid

The benefits of a Swiss loan

Individuals who need a loan because they are in a financial emergency often find it difficult. It is particularly the people with bad credit or debts who need money most. In such cases, a so-called “Swiss loan” can be a sensible option. This is to be understood as a loan that is approved by a Swiss financial institution. Credit Bureau queries are generally not carried out by such institutes, which makes it significantly easier to get the loan. When it comes to interim loan financing, that’s a huge advantage.

Obtaining a loan without a credit check as well as various proof of income and collateral is of course also not possible with Swiss financial service providers. However, if you have a fairly secure credit rating and the Credit Bureau entry is your only concern when it comes to financing, Swiss credit is a realistic option for interim loan financing.

What is the “APR”

In the case of interim loan financing, the amount of the loan costs is also of crucial importance. The “effective annual interest rate” or “effective annual interest rate” plays an important role. What is the “annual percentage rate”? Here one understands the annual interest costs for loans, which are calculated over the nominal loan amount. As a certain percentage, it is always dependent on the payout. There are financings where the interest rate is flexible or variable, i.e. it can change during the term of the loan. This is then called the “effective annual percentage rate”

When financing is concluded, a fixed borrowing rate can also be set for the entire term. This means: Regardless of the various interest rate fluctuations on the capital markets, the nominal interest rate on which the “loan” is based remains stable. If you value planning security, a fixed borrowing rate would be just right for your loan. The interest rate on the “loan amount” therefore remains unchanged during the entire term of the loan. So you are permanently protected from the unpleasant surprise of a rate hike.

What does the loan term mean

The loan term of a loan influences the loan terms that the bank grants to the borrower. This means that the longer the “loan term” is selected for a loan, the lower the individual monthly installments that the borrower has to repay, and vice versa. It is therefore worthwhile to think through the various options regarding the loan term. Make sure that not all maturities are available for all loans.

The time period between payment and full repayment of the loan amount is called either the loan term or the loan term. The amount of the nominal interest rate and the repayment are the main criteria on which the duration depends. Accordingly, the repayment rate is of considerable importance for the term. If the repayment amount is relatively low, it will of course take a relatively long time to fully pay the loan amount and thus the loan including processing fees and interest. The so-called long-term loans are loans that are taken out for at least 5 years.

What are the loan fees

Loan fees as a whole include the loan processing fees, processing fees, closing fee and the processing commission. These fees are usually the costs that the credit bank was allowed to calculate until 2014 for the effort required to process a credit request or a loan application. The calculation of the “loan fees” for preparatory activities in connection with a loan request, together with the evaluation of the creditworthiness of the borrower, was declared illegal in May 2014. As a result, processing fees depending on the loan amount applied for may no longer be required since 2014. In general, these costs were approximately 1 – 3 {{percent}} of the loan amount, for example, for a loan of USD 10,000, USD 150 to 450. If various borrowers have been charged such a fee for the loan application or the loan request, in many cases they have the right to request reimbursement of the costs.

What is a lender

The lender means a company or a private person who lends money to the borrower or borrower for a certain period of time at an agreed rate of return. The “lender” is generally spoken of in the legal texts. In this context, however, one often hears the terms “lender” or “creditor”.

A loan is associated with a high risk of default for the lender, which means that a higher interest rate is usually charged. The lender can include an insurance company, a building society or a bank. The rights and obligations of the borrower are regulated on the basis of the Civil Code (BGB).

What is the monthly rate

Financing such as “bad credit loans” is also repaid in individual monthly installments. A central component of the monthly installment is the interest rate for loans. The bank calculates the interest rate based on the prices currently charged for interest on the capital market. Your customers then pay this interest plus a corresponding surcharge for their loan.

Another criterion for the “monthly rate” of loans is the repayment. It is primarily determined by its income how high the borrower sets the repayment rate. As a rule, the repayment per annum of {longer-term loan contracts} is 1 {{percent}}. If the borrower intends to repay the loan amount and thus the loan amount in a shorter period of time, he must agree a higher repayment with the bank. The monthly charge is then of course significantly increased in line with the amount of the repayment.

It is primarily repayment and interest that primarily give the monthly installment on loans. However, the monthly installment also includes the brokerage commissions of the credit intermediaries and the processing fees of the banks. Although these costs are already taken into account by default in the interest rate, they are part of the total monthly loan as part of the monthly installment.

What is a debt rescheduling loan

What is a so-called debt rescheduling loan? This is a loan that a person takes out in order to be able to use a debt rescheduling to offset a loan with an expensive interest rate a little cheaper. Debt restructuring also has the advantage of being able to merge different loans into a single one. For debt restructuring, you therefore have the option of specifying more than one loan. It goes without saying that the “debt rescheduling loan” is not applied for from the same bank, but from another bank. In exceptional cases, you can take out the loan for a debt rescheduling from the same bank, provided that this time it offers you lower interest rates.

You see, debt restructuring has several advantages. However, the basic purpose is that the debt rescheduling loan means that you will have less financial expense than before after completing your new loan. It can already help you save money if the interest rate is even slightly cheaper.

What is the total loan amount

The total loan amount includes all fees that the bank charges the customer for a loan. The total amount that the borrower has to repay to the credit institution within the term of the repayment includes the ancillary costs and is consequently higher than the loan amount owed. The pure loan amount is increased by any processing fees or commissions as well as the total interest rate to be paid. Since all “expenses and fees” are included in the “total loan amount”, this is often considerably higher than the nominal amount of the loan.

{Expenses} for residual debt insurance that may be taken out to hedge the loan are also part of the total loan amount.

What is the loan amount

The actual loan amount that the borrower receives after the loan application has been released is less than the total amount that he then has to pay back. The amount of the payout can also vary because in some cases the “loan amount” is not paid out in full as a total amount. This also applies to a loan or a “Swiss loan”.

It does not matter whether the applicant is a private person or a commercial company, the bank always checks the total income or the current earnings situation before approving the application for the loan amount. A minor aspect is the size of the loan amount. The monthly income of the borrower is checked in the same way for a loan amount of USD 300.00 as is the case for a loan amount of USD 100,000.00.

A fixed monthly installment is normally agreed for the repayment within a specified time. These loan terms are always in the written loan agreement. However, the loan amount can be repaid by the borrower through special repayments before the contract expires, provided that his income is large enough. Such special repayments occasionally cost fees. A quick look at {the respective loan agreement} provides information as to whether you have to pay anything extra for this. The loan agreement generally ends automatically as soon as the last installment for the loan amount has been repaid. The borrower must in turn agree on a new loan amount with the bank in writing.

What are the credit rating criteria

A common fallacy is that there is a loan even without a credit check. The credit rating is based on the result of the credit check and defines the surcharges on the loan. The result is primarily dependent on the “creditworthiness criteria”. If the credit rating is positive, relatively low interest rates are required. If the various factors of the credit check provide a good result, this has decisive advantages for the borrower in any case. There are clear differences between the various financial service providers in the normal credit rating criteria.