To encash a consumer loan today it is possible in many banks. Cost of such credits has already reached indicators of summer-autumn of 2007 – the average real rate constitutes 56,18 % annual, and at the majority of banks it is even more low (there are variants that it reached 32-40 % annual). However the sums of such credits are insignificant. Some banks continues to credit purchasing of technics, and frequently their offices are located directly in the shops. However cost of its credits constitutes 66-87 % annual (the real rate). Also it is possible to borrow from banks with an advance down payment, without pledge, but with the insurance, and with the security of real estate. Credit cards on different conditions – with a grace period and without it are ready to give a number of major banks. By the way, from the end of summer the portfolio of “card” credits confidently grows.
For last three months real annual rates on purchasing of new cars, a mortgage and consumer crediting have a little bit decreased. And this tendency will proceed as result of not stable situation on a deposit market and competition expansions, – the chief of department of market analytics marks. But, unfortunately, banks don’t have access to cheap long-term resources that positively would affect liquidity of bank system and has lowered risks which are pledged in cost of credit resources.
According to experts, requirements of banks to borrowers hardly will cardinally change, as decrease in risks of a non-return of loans is a priority in work of banks today. Credits are received only by the safe customers, – the experts have frankly declared. Thus in spite of the fact that we always was very conservative in crediting questions, now requirements even more rigid. As they said, if credit conditions also become softer so there won’t be necessity to speak about mitigation of requirements for borrowers. Banks should be convinced that borrowers are ready to adhere to the obligations taken on, both financially, and morally. First of all we pay attention to incomes of the borrower – important that they were official and stable with the credit history, and also had the previous experience of cooperation with bank (the deposit flowing or the salary account in bank), – the banker speaks.
By the way, in Europe banks also have toughened requirements to those who want to take the credit. At the same time at Europeans interest to bank loans today has fallen. To invest in real estate it is not too favorably, and uncertainty of economic risks also remains. So to incur new financial liabilities the population doesn’t hasten in many countries.
Can you remember those good times when anybody could take a credit if one required funds? And just imagine the situation of those who have to bear that load nowadays when the economy is facing tough times. And for those people having loans the question of credit monitoring is as urgent now as never before. It is not only about credit monitoring, this also allows to save money, time, and nerves and be fast in solving loan related problems. Those who are searching for a place where to find out about credit report, are welcomed to check out this credit report monitoring site – there is much information about loan monitoring and how to order the service.
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