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The Local _ Finance _ Getting a private Loan

Posted by: silva 29.Sep.2018, 11:12 AM

Hello my friends!

I have another question regarding banking this time about Private loans.I'm in the process for buying a house.already discussed with a bank and I need to find 15% from the loan amount as cash.I'm in a bit hurry for moving out from the rental apartment so I was thinking about getting a private loan from another bank and fulfill the 15% requirement.
The bank I choose for this I*A banken.but I need to know one thing before I apply online.

The question, Is it possible to pay more into the loan account whenever I wanted and reduce the loan amount.for ex- lets say I borrowed 100,000SEK for 5 years and the monthly installment will be 1900SEK.Now I want to pay 3000SEK or more every month.Does this allowed by the bank?

Thanks!

Posted by: john.boy 1.Oct.2018, 05:48 AM

Check with the mortgage lender that they will still be open to offering a mortgage when you have an existing debt (the 15% you want to borrow).

Posted by: wondering_again 1.Oct.2018, 10:31 AM

Yes you can pay the loan faster but this is better to be negotiated with the original bank you will take the loan from. Otherwise the first bank can deny your mortgage as you now have new loans and it is a blanco l?n and it affects your credit.

Posted by: silva 2.Oct.2018, 07:43 AM

Thank you guys, for the information.

Posted by: Guest 28.Jan.2019, 01:19 PM

I'm looking into applying for a private loan, however I'm still puzzled about the 'UC' - how bad is it to get several registered "look-ups"? I've been https://xn--privatln24-75a.se/ but don't get if its OK to apply for offers from 4-5 different lenders without getting any punishment.

Posted by: SEM20 18.Sep.2020, 11:03 AM

I don't know if you've already found an answer to your question but I'll try and elaborate on the topic of UC as good as i can.

UC is short for https://www.uc.se/, which is Swedens largest credit information company.

In Sweden, it's mandatory by law to audit the credit score of an applicant before approving a loan.

When you apply for a mortgage loan, or a larger private loan (generally > 100 k SEK), chances are good the bank will use UC to check your credit score.

Every request sent to UC (over the last twelve months, if i remember correctly), as well as all prior loans that was approved using UC, is in the UC database.

A possible issue, is that this information may negatively impact the credit score of the applicant for future loans, and may cause either rejection of the application, or a significantly higher interest rate, to compensate for the increased risk associated with a client having multiple simultaneous loans.

In order to better ones credit score with UC, alternative credit-score auditing companies have been established. The most popular ones are Bisnode, Creditsafe and Safenode.

Loans where the credit score of the applicant has been audited by one of these companies are commonly known as https://www.smartrate.se/lan-utan-uc/ which translates to "loans without UC".

By choosing one of the non-UC lenders, this information is hidden from UC, which may not be a bad idea if one considers for example applying for a house loan in the near future.

I hope that brought some clarity concerning the UC confusion.

There are several loan mediators on the Swedish market as well, although they all use UC. The pro is they will only require one look-up, and then forward the information to several lenders, thus minimizing the possible harm multiple lookups would have on your credit score. The most popular loan mediator is https://www.lendo.se/.

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