Mortgages without endorsement – How to mortgage without aid

Requesting a mortgage and having the bank grant it to us is not easy at present. Financial institutions require important requirements to offer a mortgage without endorsement to consumers. Fulfilling all of them we can get a mortgage without a guarantor.

Requirements to sign a mortgage without endorsement

Requirements to sign a mortgage without endorsement

If we need a guarantee to get a mortgage, it is because the bank needs a greater guarantee to finance us since we would not be fulfilling some of the requirements necessary to sign a mortgage:

  • High savings. They are necessary to meet the costs of formalizing the mortgage, which approximately amount to 15% of the value of the home. And also to contribute 20% of the value of the house that the bank does not lend us, since it only finances 80%. In total it is necessary to have approximately 35% of the value of the home, or what is the same 35,000 euros of each 100,000 euros.

  • Stable and high income. What implies the need to have a fixed job and with seniority. It must be borne in mind that banks do not grant mortgages whose shares exceed 35% of the holders’ income. According to this premise, the salary must be high. Normally banks request payrolls of 2,000 euros among all holders.

  • Do not have debts. Appearing in a file of debtors such as ASNEF or RAI means saying goodbye to the possibility that a bank will finance the purchase of a home.

If we meet all these requirements or even have a profile still more solvent than the minimum required by the bank, we will not have problems finding financing. However, if we fail in any of these requirements, the bank may refuse to grant us the mortgage loan or may request the guarantee of a mortgage guarantee.

Alternatives if we can not get a mortgage without endorsement

Alternatives if we can not get a mortgage without endorsement


If the bank does not grant us financing to buy a house and in exchange requires us an endorsement, it means that we do not have high guarantees to repay the debt without problems. In this scenario we have two possibilities:

  • Rent a house. Continue living on rent and wait until our financial level is adequate to obtain a mortgage with the lowest possible risk.

  • Subscribe a payment insurance. It is a product that significantly increases the mortgage, so if we already had a profile limit to access credit, this option can leave our personal finances even more against the ropes.

Is it advisable to sign a mortgage with a guarantee?

Is it advisable to sign a mortgage with a guarantee?


Hiring a mortgage without a guarantee is the most advisable option because nobody will have to support our credit and assume all the risk involved. You have to know that a guarantor does not get any advantage (except to help us get financing), but assumes the inconvenience of having to respond to our defaults with all their present and future assets, which could be seized if we do not pay the fees of the mortgage on time.

Consequently, it is always better to sign a mortgage without a guarantee because, in addition to being less risky, it implies that we have a solvent profile and are more likely to be able to repay the debt without problems. However, there are times when the endorsement can be a good option.

For example, if we have found a home that has very good characteristics, with a price well below the market, a good location, etc. But we do not have enough savings, this time that we endorse is a good option since we have income and it is a very good buying opportunity.

Can you get a 100 mortgage without a guarantee?

Can you get a 100 mortgage without a guarantee?


Currently, banks grant financing of up to 80% of the purchase price. However, there are three alternatives to obtain 100% financing:

  • Acquire a bank floor: banks usually grant 100% financing when buying a bank flat. Actually, these properties are not cheaper, but because the vast majority of banks cover the bank, by proceeding from foreclosures, the entities offer facilities to give them exit.

  • Achieve an appraisal higher than the value of the sale: little by little the banks are making the established requirements more flexible when granting financing. Until a few years ago, the usual thing was for entities to offer 80% of the lowest value between mortgage appraisal and purchase and sale. However, in 2016, some entities grant 80% of the appraisal value, and if this is higher than the purchase price, it is, therefore, a way to give a 100% financing.

  • High level of solvency: to get a mortgage without collateral it is necessary to be solvent, but if we also want a 100% financing, the bank will demand an even higher solvency. For example, income above the average, high level of savings, being an official or having a job with a lot of seniorities and in a future sector, among other requirements.

Compare several mortgages before signing

Compare several mortgages before signing


Before joining a loan, it is best to compare the different options presented by the current market- check it out.

The financial comparator advises comparing at least three mortgages at the same time, asking for detailed information on each of them so that we can compare each of its characteristics and choose the product that best suits our needs and our personal situation.

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Brussels threatens to investigate the debt of Spanish football

  • Almunia, vice president of the European Commission and responsible for Competition, admitted that it is possible that the debt of Spanish football is investigated.
  • He did not rule out a possible liquidation or restructuring of some clubs.
  • The debt of Spanish football with the Treasury is 660 million and the total of 3,600.
  • Seven clubs are already being investigated for alleged public assistance.
Koke y Parejo en el Atlético - Valencia

Koke and Parejo at Atlético – Valencia EFE

The announced investigation of the European Commission may not be limited only to the seven clubs under study at this time for alleged public support. The debt of Spanish football worries in Europe and Joaquín Almunia, vice president of the European Commission and head of Competition, admitted on Wednesday that it is possible that not only those teams will be investigated, but the entire League.

The pressure from the rest of European clubs seems to be behind this investigation, which may not have just begun. The ‘all is worth’ that dominated the League a few years ago and the flexibility that these clubs now have to return the money they owe (around 3,600 million euros ) upset Europe, which threatens to take action on the matter.

“We are watching,” said Almunia on the debt of Spanish clubs


The first step has been to investigate seven teams ( Real Madrid, Barcelona, ​​Athletic, Osasuna, Valencia, Elche and Hercules ) for alleged illegal public aid, but it may not be more than the beginning. Almunia warned that “I do not exclude any possible opening of investigation into possible illegal aid, either because we act ex officio or because of complaints from third parties”, when asked if the debt of Spanish football with the Treasury would be investigated.

And is that within the alleged illegal aid investigated by Brussels could enter the enormous debt of the Spanish clubs, unapproachable for many of them in the short and medium term. The amount owed is 3,600 million ( 2,700 if you do not count the two ‘giants’, Real Madrid and Barça ), while with the Treasury is 660 million (at the end of 2012). That’s where Competition can open an investigation . Why has the clubs been allowed such a huge amount? Why is the payment of this amount so flexible? Could it be considered a kind of disguised credit and, therefore, illegal public aid?

The League has established strict economic control of football clubs for this and the following seasons, but should an investigation be opened, it would be necessary to assess whether it is sufficient. For now, the information has already been requested and will be studied to see if an investigation is opened: “We are looking at it”.

The threat, for the moment, looms over the Valencian clubs involved, and the shadow of a possible liquidation or restructuring , something that has happened in other cases, has not been ruled out by Almunia. “Companies in difficulty must be analyzed according to the European rescue and restructuring guidelines, we will see how the investigations progress and we will reach a conclusion,” he said.

Therefore, should an investigation into the debt of Spanish football in general be opened, many would be in serious danger of disappearing. Historical as Deportivo de la Coruña, Zaragoza, Mallorca, Espanyol Valencia or Atlético must very important amounts of money.

Tranquility in the League

The Liga de Fútbol Profesional ruled on the investigation on Monday, even before it was confirmed, and publicly showed its unconditional and absolute support both to the clubs under investigation and to the rest of them, ensuring that all of them have acted “in accordance with the acquis communautaire and current Spanish legislation at all times. “

The LFP has also been made available to all those clubs that need their support. Absolute support

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News Question of the week: What are capital-related benefits?

News Question of the week: What are capital-related benefits? News always well informed

Friday, 25.08.17 , written by Juliane Wellisch Even people on lower incomes can build a solid financial cushion by making smaller monthly payments. Employees and civil servants are sometimes supported by the employer or employer through capital-efficient benefits. Partly the state even increases the

Zusätzliches Geld vom Arbeitgeber

This is how asset-based services work

  • Employees and civil servants can receive from their employer up to € 480 per year in capital contributions.
  • In addition, there is the possibility for people with low and middle income to claim a bonus from the state.
  • In view of the low interest rates for subsidized savings contracts, it is advisable to find out about pension options before signing the contract.

What are capital-efficient services (VwL or VL)? These are regular additional payments from the employer , which can be invested in a bank or fund savings plan or home savings contract or can be used to pay off mortgage financing. The employer thus directly supports the asset retirement or debt reduction of his employee. The monthly support is up to 40 euros per month .

The money saved is available to the employee after seven years at the earliest – so savers need to be patient. However, with maximum payment after the minimum term 3,360 euros saved plus interest and, where appropriate, state support. If you want to have as much money as possible in the pot at the end, you should deal with the conditions of various forms of savings in advance, for example with the help of an expert.

Employee Savings: State support for low-paid workers

People with a low income profit particularly from the capital-efficient benefits. Because they receive up to a taxable annual income of 17,900 euros (35,800 euros for spouses and life partners) in addition to the so-called worker savings for housing purposes. This can be, for example, a home savings contract.

Those who prefer to invest the money in a bank or fund savings plan are entitled to additional government support up to an income limit of 20,000 euros or 40,000 euros . The employee savings bonus amounts to up to € 43 per year for singles who invest in a home savings contract, and up to € 80 for savings plans .

But beware: If the employer does not pay the maximum amount of 480 euros of capital contributions per year, the entitlement to the additional premiums is reduced. Savers can, however, increase the amount independently, in order to secure in this way the full support from the state.

Double benefit with two contracts

The employee savings allowance can be claimed simultaneously for two contracts. This means that singles can receive up to a total of € 123 annually for a savings contract and a home savings contract from the state.

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Housing Premium: Alternative support for home ownership

People whose taxable income is just above the ceiling for the employee savings bonus may be eligible for the Housing Plan Premium. To do this, they must invest the capital-building benefits in a home savings contract or use them to acquire cooperative shares or savings agreements that also serve to acquire residential property.

The income limit for the housing premium is € 25,600 (€ 51,200 for co-disputed spouses / partners) . If at least 50 euros per year are paid, savers receive 8.8 percent of the expenses as a premium, but a maximum of 45.06 euros per year (90.11 euros) .

Are duties payable on capital goods?

Asset-based services are neither tax-free nor tax-free . This means that the employer pays the full promised amount into the contract. However, the benefits are actually factored into the gross income, so that the amount of the levies increases accordingly. Depending on factors such as the personal tax rate and the tax code, this reduces the net income .

For example, with an income of 3,000 euros per month, around 615 euros will be payable monthly . If the employer pays additional capital contributions of 40 euros, the taxes rise to 624 euros .

However, there is the possibility of investing the capital gains into a company pension plan. Then in the deposit phase no taxes and social security contributions are due, but in the pension phase .

Does the employer have to pay capital contributions?

Asset-based services are generally voluntary support by the employer . Therefore, workers can not insist on the benefits. However, some collective agreements and employment contracts provide VwL in a certain amount. In particular, workers who are entitled to the employee savings bonus or the housing premium may also ask their boss to pay VwL instead of a salary increase, as they may benefit more from the allowances .

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Financial test: debt repayment can save money


Berlin – Who pays a installment loan, should think about a rescheduling. Because of the currently low interest rates consumers can potentially save a lot of money, explains the Stiftung Warentest in the journal “Finanztest” (issue 2/2014). The higher the residual debt and the original interest rate, the more borrowers benefit from the currently low interest rates.

Picture: Zero provision 

Two examples: A consumer took out a loan of 10,000 euros three years ago at an interest rate of 8.9 percent. The term is six years. If a new loan with 5 percent interest is taken and the old loan is replaced, the consumer saves 278 Euro. With a loan amount of 20,000 euros, the interest savings by rescheduling even 556 euros. A prepayment penalty of 1 percent of the remaining debt was taken into account in the examples.


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Home financing: living Riester is the first choice

Low-interest rates and high government subsidies make residential Riester offers the ideal financing for a home. The offers of building societies cut in the test from unexpectedly good, better than the Riester loans of banks.

Niedrige interest rates and high government subsidies make residential Riester offers the ideal financing for a home. The offers of building societies cut in the test from unexpectedly good, better than the Riester loans of banks.

The winner is the living Riester loans of Schwäbisch Hall building societies and building societies Baden-Wuerttemberg, Bavaria, and West. They demanded the combination of building savings and repayment-free loans with about 20-year term effective interest rates of only 4.26 to 4.41 percent.

That’s a surprise. Because in recent years, this funding model was expensive. However, to benefit from these building society offers only builders with enough equity. At least 20 percent of the purchase price and the utilities must find the customers out of pocket.

The investigation, the testers have laid a model couple with two children born before 2008 to reason that buys a single family house for 200,000 euros. 40,000 euros, the family puts itself on. She needs a loan of 160,000 euros. Financed the couple with the sum Riester loans, it annually receives 308 euros basic allowances and 370 euro child allowances.

Within the repayment term of about 20 years, the Riester subsidies add up to a total of around 13,000 euros. To arrive at a joint gross income of 60,000 euros per year, nor about 15,000 euros in tax savings. There are also many thousands of euro interest savings because the family paying off the loans by promoting faster. Such as residential Riester worthwhile for others, are shown in the infographic.

Building loan with repayment-free loans

Under favorable combination loans, the customer includes a building loan from a savings sum equal to his credit requirements. With the grace loan, Bausparkasse extended contract sums ago and has so long saved up a minimum balance, for example, 40 percent of the home savings and the savings agreement is allotted. Then he gets his credit and a savings loans disbursed.

Up to the assignment, the customer pays the savings rates for the building loan and the interest on the advance loan. If the building loan granted, it will trigger the advance loans from the banks and build society loans. He then pays the rate for housing loans. The interest rate is specified in the rule for both phases.

Riester loans with direct repayment

Most institutions offer the simpler variant: All banks in the test and two building societies offer Riester loans with direct repayment (annuity) and a duration of 10, 15 or 20 years.

Conventional loans it differs only by the state support. The best Riester loans with direct eradication and a comparable rate fixation period of 20 years provided the Alliance with an effective interest rate of 4.75 percent. This was cheaper than most unsubsidized bank loans but significantly more expensive than the best building society combo loans.

But not all Riester loans are favorable. Most deals in the test were more expensive than your average credit without subsidies.

Several conditions must be met so that customers receive the residential Riester: The funding must flow into a self-occupied property. They must be placed so that the loan is repaid until the 68th year at the latest. Each spouse must complete a separate loan agreement to exploit the promotion. And finally, contracts are only promoted that are certified by the Federal Financial Supervisory Authority.

Riester loans. Riester loans are for your home financing because of the high promotion first choice. Suitable: loans with direct repayment and combined loans of building societies. but also pick up a credit offers without subsidies. Make sure that the effective interest rate for the Riester variant is not, or not much higher than for a ungefördertes loans.

Winner. The combination of loans home loan Schwabisch Hall, LBS Baden-Wuerttemberg, Bavaria LBS and LBS West were most favorable in the current test. However, the interest rates on housing loans are changing almost daily. Therefore, always observe the Riester loans with direct repayment. The best deals in this variant had Allianz, Dresdner Bank, and LBS Baden-Wuerttemberg.

Total effective interest. Pay for combined loans of the building societies on the overall effective interest rate – called by the building societies’ total cost as an annual percentage. ” Only on this information, you can compare the building society models with other offers similar maturity. Let also create a financial plan including savings and repayment schedule for the building loan.

Old contract. You may see through and used as equity, the accumulated assets from Riester annuities, Riester bank savings plans or Riester fund savings plans. By the end of 2009, you are only allowed if you found at least 10,000 euros. has so much been but hardly anyone saved. But from 2010 You may use any amount saved in your Riester contract for your equity.

Promotion. When you complete a residential Riester loan, you should take advantage of the future benefits solely. If you already have another Riester savings contract, stop the payments for it.

Taxes. As a user of Riester subsidy, you have to pay taxes on the previously funded amounts in the retirement age. Let yourself calculate the sum of the bank or building a society that you have to pay tax from the expected retirement. So you can estimate which belongs tax burden on you.

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