The personal capital contribution corresponds to the amount of money of which you lay out for the purchase of your good, to which
will be added the capital granted by your organization of credit. Its
amount is a determining element of the rate which will be related to your credit. The more important the personal capital contribution is, the more the financial conditions of the loan are gravitational.
Consequently, the contribution will decrease the borrowed capital.
• Capital
Assembling loan which is authorized to the borrower. This amount can be versed in one or more time, either with the borrower, or with the owner of although you wish to acquire.
• Loads
Together regular expenses that the borrower or his household supports. That includes/understands all the fixed loads such as the rent, or refundings of appropriations.
• Total cost of the credit
Summon interests paid by a borrower throughout all its loan. It includes/understands the expenses of file if necessary and the voluntary insurances.
• Time for consideration
15 days legal time available to the borrower to mark his acceptance on the offer of credit.
• Time of retractation
14 days legal time whose the borrower profits after acceptance from the offer from credit to be able to cancel it. This time starts at the date of signature of the contract.
• Expiry
Date to which the borrower must refund the capital, partially or completely, and to pay the interests. One also calls expiries the amount of the sums paid by the borrower.
• Expenses of file
Expenses engaged by the credit institution for the study of a file and the proposal of the financing. These expenses can be null according to the organization of credit. They are invoicees with the borrower.
• Mortage holder (mortgage)
It acts of a guarantee on the real estate in exchange of the credit.
• Interest
It acts of the amount, that the borrower commits himself paying in exchange of the authorized loan. The interest expresses as a percentage lent capital and is calculated per period determined in the contract.
• Leasing (Leasing)
To use a good as a tenant for a certain length of time and to decide to become about it or not owner at the end of the period of hiring in condition of having paid the monthly payments and of having paid the amount corresponding to the option to buy.
• Monthly payment
Assembling loan refunded every month, on a monthly rate/rhythm. It is constituted on behalf of the capital to refund to which the interests are added and, in the case of a traditional personal loan, expenses of file.
• Offer preliminary credit (OPC)
The offer of loan is the document showing the characteristics of the financing which is proposed to the customer (rate, duration).
The lender must maintain the conditions indicated in the offer of loan for one 15 days minimal length of time as from his reception by the customer.
• Penalties of repayment before due date
Allowances possibly claimed with the borrower if it refunds his
credit before the expiry initially envisaged. Within the framework of the consumer credit, the borrower does not support any penalty of repayment before due date.
Period of use of a loan
It begins the day of the payment of the first financing and finishes the day when the totality of the credit is resolved. During this period the borrower pays only the interests and the loads related
to the credit (insurances, expenses of files).
• Period of refunding
Period ranging between the day of the payment of the first monthly payment and the day of the end of refundings.
• Redeemable loan
Loan whose amount, duration and monthly payments are given in advance, according to the case, in a fixed way or according to the clauses of revision
• Reserve, revolving
This credit is usable constantly and reconstitutes monthly refundings progressively. It is the most flexible formula of the credit of the market.
• Balance
• Assembling credit remaining to refund.
• Nominal rate
It acts of the rate posted by the lenders establishments and is used as a basis for calculation of the monthly payment. It does not hold account of aucuns fresh appendices (for example: expenses of file, expenses of inscription).
• Total effective rate
Calculated starting from the nominal rate, it expressed as a percentage represents the annual total cost of a loan. It corresponds so that the borrower really pays because it takes into account all the obligatory expenses (fresh of file, premiums of insurance, expenses of mortgage...). It must always be lower than the legal attrition rate.
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