Signature loans no credit




The legal interest rate of the Banque de France is the reference used when an administration or an individual has to pay interest on arrears. Some cases are concerned only, but what is interesting is that its level is extremely low. In 2013, the legal interest rate was 0.04%.
To illustrate what a borrower could gain if there were flaws in their loan agreement, let's take this dummy example.
In 2010, a couple signed a home loan contract for € 200,000 over 20 years , with a TEG of 3.2% . They should therefore pay in all and for all € 71,000 in interest. Then they realize that their contract contains defects. Justice gives them reason, and obliges the lender to apply the legal interest rate in force in 2010, ie 0.65% . The couple will therefore have to pay € 13,300 in interest over the entire duration of the repayments, a savings of € 57,700 .
The legal interest rate in effect on the no credit check equipment financing date of the signing of the loan contract must be really low, for the operation to be interesting. For example, in 2009 it was 3.79%, and 3.99% in 2008. It was not until 2010 that it started to become really interesting.
Banks and credit companies have a competent legal department. Only truly lapsed loan contracts will give rise to a review of interest, as well as a reimbursement. Applicants must approach a specialized lawyer and bear their fees.
Given the extent of this information via the Internet, it is a safe bet that financial institutions will defend themselves. They will in particular try to soften the sanctions, however if there is relaxation, this will only concern the loan contracts signed after said relaxation. In fact, retroactivity is not permitted by the constitution.
There is only one way to find out if you are affected by form defects in home loan contracts. Take your contract, and try to determine if the TEG has been correctly calculated, and if no compulsory mention has been omitted.


Rumor has it that 50% of home loan contracts are affected. If you are one of those people who never win the lottery, your contract may not be flawed. Rest assured, it is always possible to renegotiate a rate if certain conditions are met.
Contact the brokers , they will study the arguments that may work in your favor. Your banking seniority, your professional stability, the remaining repayment period as well as the value of your property are all leverage that an experienced broker will be able to operate.

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