Thursday, 10 July 2014

We are raising creditworthiness

Creditworthiness is a mix of factors such as the risk of granting liabilities, credit history, as well as the stability of income generation and asset situation of the lender. It may anticipate not only about whether the commitment will be granted, but also the conditions under which it will be offered.

Creditworthiness is put simply the ability to repay the obligation. It is calculated in each case before granting credit or loans. There are several ways to increase the lending capacity. Here are the most important ones:

- Reduction or repayment of previous commitments: The financial institution by analyzing the creditworthiness of examining the amount currently paid by the borrower obligations. In this way, calculated the so-called indicator DtI (debt to income), which reflects the amount of income compared with the amount of all current liabilities. Funding will not be granted if the sum of the payments exceeds such as 50 or 55% of income. Improving DtI is possible, however, just by reducing the amount of, or the repayment of earlier loans and advances.

- Extension of the loan: Increasing the credit period will reduce the amount of installment future liability. The lower level will not be as heavy load on the household budget. This will be equivalent to the reduction described above DtI.

- Change the type of installment: The increase in credit will also replace declining payments permanently. Installments are decreasing in the initial period of repayment value much higher than the fixed installments. The use of rat constants that are lower in the first phase of the loan, so will again DtI level.

- Taking into account bonus: Unlike Kas Stefczyka, not all of the financial institutions take into account the bonus part of the consideration for the calculation of credit. Let's choose so the lender, which takes into account not only an essential part of the salary, but also its whole.

- Protection: Funding may also be rejected due to too low LTV ratio - loan to value. This will help here, however, apply additional security, such as insurance, bill of exchange, mortgage, and also benefit from the assistance guarantor.

- Other borrower: There is also access to an additional borrowers. These can be for example, parents or siblings whose income taken into account in calculating the credit will increase its value significantly.

It should also be noted here that, to improve the creditworthiness of such reduction will also affect the lending rate offered to members of Kas Stefczyka within the appreciation of their loyalty - internship at the checkout. Also remember that an important element of obtaining financing przesądzającym is our credit history. Let's take care of it so repaying their obligations on time.

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