Negative loans

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Negative loans

One Negative loans simply declares a loan in which the borrower must pay back less money than he has lent until the end of the term. This sounds very good for the borrower, but like all things in life, a negative loan has certain advantages and disadvantages. Therefore, before you graduate, you should keep a close eye on the pros and cons.

The two types of a negative loan

In connection with a building loan loan the concept of the negative loan has been known for some time.
Recently, however, there is also a second variant of the negative loan, which is particularly beneficial for the small-earner. In order to acquire new customers and tie them up for a long time, banks are not only going to forgo the interest on small loans up to 1000 Euro, but also to put them in the negative range. A negative loan arises.

The principle of the negative loan for a building loan loan

If you are applying for a building loan loan at a bank or other lender, you must also pay interest and additional costs, for example for the notary and the land register entry, in addition to the borrowed amount. In the case of higher loans with a total amount of 15 thousands of euros, the lending banks and institutions can register themselves in the land register to secure the credit so as to still have their money in the event of the insolvency of the borrower. The owner-occupied property is thus deposited as a pledge.
If, however, the borrower needs only one building loan loan on a smaller sum, which is less than 15 thousand, the lender can dispense with the entry in the land register. Since the registration of land charges and the notary required for this costs corresponding fees, they are dispensed with. The savings now result in a negative loan.

The obligations of the borrower in case of a negative loan for building savings

However, if a borrower meets the conditions and receives a negative loan in connection with a building loan loan, he must meet certain criteria. This includes, of course, an impeccable creditworthiness and a permanent and permanent income. Furthermore, until the full settlement of the loan, he may not incriminate or even dispose of his landed property without the knowledge of the creditor. In addition, the landed property may not be offered to other creditors primarily as collateral. In the end, the basic right must be registered in favor of the creditor, if the latter so requests.

The principle of the negative loan for small-income earners

In this variant, the borrower must pay back less money than he has borrowed. Currently, online loans are offered that work with a negative interest rate of 0,4 percent. That means that at a loan amount of 1000 Euro must ultimately be repaid only around 994 Euro. However, for the savings of the 6 Euro the borrower has to do a lot.

The obligations of the borrower in the case of a negative loan for small-earners

At the first moment, this variant of the loan ceases to be a negative business for the bank, because ultimately it gets less back than it did. Why the banks still make a profit when they give a negative loan results from the habits of the people. Customers who have once had positive experiences with a lender usually come back. In addition, the inhibition threshold is reduced before a new loan is issued, if the first credit conclusion proves to be easy. Customers are thus tied to the financial institution and come back at a later date. Then you will get a "normal" loan, which will also pay interest again. The money institution can thus attract people who would not borrow money in the normal case.
In addition, the financial institution is thus attracted to the sensitive personal data of the potential customers. In order to get a negative loan, you have to put all the financial facts on the table. Consumers therefore warn against this type of lending.

Summary

With a negative loan, the borrower can save cash. There are no hidden processing fees. However, he must disclose his financial resources. If you want to know more about the principle of the negative loan, you can also find out about a video.

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