Depending on your current needs, you have the opportunity to find the type of credit that best suits you. The four most popular types of credit that can meet virtually every borrower’s financial needs are quick credit, consumer credit, credit line and mortgage.
Tailored each of these four types of loans to the maximum to address a specific financial situation
A bit about each of these four most popular types of loans in Latvia in 2018. Credit companies and banks have tailored each of these four types of loans to the maximum to address a specific financial situation. These products are regularly updated and updated to be fully fledged in the financial market 2018.
You should choose the type of quick credit out of these four different types of credit if you are experiencing sudden financial problems, perhaps unexpected events, or unexpected higher expenses. Fast Credit 2018 is easy to apply and you will receive a payout from your creditor very quickly as it will take about an hour for your credit to be filled in and sent to your credit company.
Apply for a quick loan without any problems
You will be able to apply for a quick loan without any problems if you have a good credit history, of course, if you are a Latvian citizen aged 18-70 and have an official monthly income. Dynamically, the terms of a quick loan offer are changing quite rapidly, so you will benefit from having reviewed all your quick loan offers before deciding on a particular credit company and deciding which credit company you want to work with.
The second type of these four different types of credit is consumer credit, which will take more time to process than a quick credit. You can apply for a consumer credit around the clock. The novelty of this area in 2018 is that consumer credit is now offered not only by the banking sector but also by bank creditors. With a consumer credit, you have up to six years to complete your repayment schedule. The amount of a consumer loan loan can be as much as a couple of tens of thousands of euros, but the amount of money, the length of the repayment and the interest rate will be quite closely linked to the size of your income as well as your existing loan obligations, if any.
Credit line completion
Of the four different types of credit, the third is credit line completion. Designing a credit line again has its known benefits. It will take you one to two days to process this credit, but the very best thing about it is your ability to borrow, repossess, and take out and use it in installments. In addition, the interest rate will only be payable on the amount of money you will use during that period. A nice condition for a credit line loan is the ability to repay it at your own discretion, you do not have any credit schedule, so you can adjust the amount and intensity of your repayment according to your financial capabilities.
As a fourth type of loan, one of the four different types of loan is mortgage, which is exclusively for home purchase. It doesn’t matter if you want to buy an apartment or a house, you will have to consider the mandatory co-payment for buying the property, because the mortgage loan you get will cover on average 80% of the property price.
Applying for a mortgage will take considerably more time, as it will take considerably more formalities than the three types of credit mentioned above. Regardless of which creditor you decide to partner with, property valuation will be a mandatory requirement. The lender will definitely pay attention to the size of your monthly income, whether or not you have dependents, and how much of your existing credit obligation. Creating a mortgage will require a pledge that can become the property you are buying, and will require a guarantor who will continue to cover the loan in the event of your insolvency.