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Mortgage loan and supervision of brokers and agents

From July 22, 2017, the law on mortgage loans and supervision over credit intermediaries and agents is in force. The Act comprehensively and in detail regulates the process of not only offering mortgage loans, but also the conclusion and performance of contracts, as well as their advertising. What changes have been made?

Mortgage loan 

Mortgage loan 

1. A mortgage loan may be granted only by banks and credit unions.

2. The mortgage loan will be granted only in the currency in which the consumer receives the majority of income or has the majority of financial resources in it.

3. Before concluding a loan agreement, the client must receive an information form, both from the lender, intermediary or agent. The information form allows you to compare several loan offers, as it contains information such as about the total amount of credit, loan cost, repayment terms or interest rate. The conditions contained in the form are valid for 14 days.

4. Intermediaries and agents advising the consumer must submit at least 3 mortgage loan offers.

5. The bank has a maximum of 21 days to issue a credit decision from the day of submitting the application. A credit decision is an offer.

6. The bank is obliged to assess the creditworthiness on the basis of information obtained from the consumer, from databases (eg BIK) or from the lender’s internal databases. The contract can be concluded only when the result of the credit assessment is positive.

7. The consumer has the right to withdraw from the mortgage contract within 14 days from the date of signing the contract. Just send a registered letter before the deadline. The borrower incurs only the interest costs for the period in which the bank has paid the loan until its return.

8. The lender, broker or agent is required to provide a permanent model of withdrawal from the contract on a durable medium.

9. Full or partial early repayment of the loan will be possible at any time. The contract may, however, provide for compensation in the event of early repayment of fixed interest rate loans – during the fixed interest rate, and in the case of loans with a variable interest rate before the end of the three-year period. The maximum commission for a mortgage with variable interest rate can not be higher than interest that would have been charged on the repaid amount within one year from the date of actual repayment. The commission can not exceed 3%. amount repaid. The commission for early repayment can not exceed the costs of the lender directly related to the early repayment.

10. In the event of delayed repayment of the loan installment, the bank will set an additional date, which will not be shorter than 14 business days. The bank will also inform about the possibility of debt restructuring.

11. If the borrower is unable to repay the installments, the bank will propose restructuring the debt. The bank will be able to:

  • temporarily suspend repayment,
  • lower the amount of installments,
  • extend the loan period,
  • propose a different solution.

If the bank rejects the restructuring application or if it fails, then the bank will allow you to sell the property in a period of not less than 6 months.

12. Ads regarding loans must be legible and footnotes visible. If the advertisement will, for example, inform about the interest rate on the loan, then it must be marked whether it is fixed or variable. In addition, in the ad we find information so far presented, such as the total loan amount, the total cost of the APRC credit, the duration of the contract, the amount of installments. If the advertisement does not contain information about the costs associated with the loan, then you must find information about the amount of its APRC. The above information must be presented on a representative example and in accordance with the law ” as visibly, legibly and audibly as other information on credit costs “. In the case of mortgage loans with a variable interest rate, information about the risk of changing it must be provided.

13. The Act prohibits bundling. You can no longer make the conclusion of the contract conditional upon the purchase of certain products. The exception is a free bank account used to pay the loan installments. It is possible, however, combined sales, consisting in offering other products, but without the obligation to buy them.

14. A register of mortgage and consumer mortgage brokers maintained by the Polish Financial Supervision Authority (KNF) and the transparency of remuneration policy for advisers and credit intermediaries were introduced. The act on mortgage loan and supervision over credit intermediaries and agents introduced at the same time changes to the Consumer Credit Act regarding advertising of consumer credit. In advertisements containing credit costs data, mandatory information must be presented in the same way as visibly, legibly and audibly as other credit-related information. If, for example, a 0% interest rate is displayed, information about the APRC of the loan must also be clearly displayed.

Interest free advance loan with Credit Card

When using a credit card, you are actually using even an interest-free advance loan with the possibility of paying up to 45 and splitting your purchases up to 12 times or more. Credit card? By definition, the cards offer a form of credit with which we can make small “loan advances” in traditional or large “advance loans” on Platinum, Diamond and Unlimited Cards.

But Carla, how is this loan in advance? Simple, once you went to a store, bought a product and paid with the credit card, this operation is nothing more than the administrator to lend you money to buy that product and you pay for it on the due date of the invoice. For the holder to buy and pay, it is necessary to use the personalized plastic card with his name and a magnetic stripe and ship with electronic information, the idea is to offer the consumer a series of financial relief.

Those who have credit cards carry a myriad of advantages, which I consider the most important is the flexibility to make payments of indeterminate amounts anywhere in the world without having to show real R $ 1 at all. You can pay the invoice on the due date or delay the payment with a minimum amount in the revolving credit, if the amount is too high, you can install everything up to 24 times.

The use of the credit card is easy, the holder can spend up to the limit granted by the credit institution. When you pay the bill, the credit limit is automatically released for use again, but if you exceed the limit, you will not be too happy with the charges on the next bill.

3 ways to use credit card

3 ways to use credit card

What applications the credit card allows, the advantages, benefits and conditions of use change according to the type of card and the agreement of use between the holder and the administrator of the credit cards, are usually used to:

1 -) Used with modality of payment.
Credit card replaces money with mastery. You make your purchases during a certain period that will be accumulated and listed in a monthly invoice, the amount must be paid on the day of the maturity chosen by the holder when you requested the plastic.

2 -) Serve to buy, make payments, installment in times. Borrow loans.
Credit cards in addition to paying purchases, can be used to obtain personal loan or quick cash withdrawals, to “apply for the loan on the card”, it is necessary to have limit with prior approval.

3 -) Use to pay consumer bills and other private debts.
The use of credit cards is not limited to the two items listed above, there are other solutions to use to pay bills of light, water, telephone, among others. Check the attendance of your card, the possibility of paying debts, tickets and bills of consumption.

Smart use of credit card

Smart use of credit card

The best use of credit card is, use it for payment, given the advantage of credit cards being used without the presence of money and security as a means of payment. The not so secure card to make purchases through the internet, to add security for this operation, simply add your card to a PayPal account Brazil. If well used and properly cared for, the card is the most incredible means of payment in the world.

Another smart way to use it is to get small amounts of personal loan, so you have to be aware of the charges, fees and interest of that operation. For free you have the total to use in obtaining finance purchases with up to 40 days to pay at no cost.

Paying the card’s invoice on the day of the payday or letting it in automatic debit is more than excellent practice.

Personal Loan Stores

Personal Loan Stores

Personal Loan Stores

Personal loan stores are taking care of the scenery in the capital, neighborhoods and cities of the interior, every place has one for whom they want to hire personal credit, payroll or loan in pre-check, have for all types of clients and many offer the range complete operations so as not to lose the customer.  A personal loan can be a great way to settle more expensive debt or start a home improvement project without having to use more expensive financing like the credit card. Unlike credit cards personal loans are more flexible, have fixed interest rates, medium and long terms – usually 6 to 5 years to pay what makes it easier to repay and leave your budget without tight.

Currently the consumer can use in addition to the specific loan shops scattered around the streets, he can also access credit and loans in the main networks of stores and magazines of cities such as C & A, Riachuelo, Renner, Marisa, Pernambucanas, American stores, Salfer stores, Colombo shops, Leader shop and many others.

Most grocery stores and even grocery stores that offer grocery shopping cards already have inbuilt financial services for those who need emergency cash. Despite the facilities, the money borrowed by these stores are not the cheapest.

On the other hand, obtaining a personal loan can turn into a frustrating, confusing and even dangerous action depending on where you request the amount you want, in which case we are talking about predatory lending in moneylenders.

In addition to loan stores, magazine networks, it is always a good idea to check with your financial institution where you have checking or savings accounts to find out what they can offer you. The problem is that when applying for a loan, a credit card comes as a gift in your home.

It is worth mentioning that personal loans at loan stores are cheap as compared to payroll loans, up to 2.50%, when personal loans with pre-dated checks are levied at up to 8.9% and personal credit with pre-approved cards the rate can reach up to 12%, plus the rates and charges of credit approval and grant.

When it is difficult to get a traditional bank loan, loan shops are there to help you, it is worth remembering that the amount of money borrowed is lower, in general the amounts have a maximum limit of R $ 10,000, with terms of up to 24 installments.

In an emergency it can be useful, but check all the charges built into the operation.

Unsecured personal loan, a more flexible option

For you who need credit and want more freedom both at the time of hiring and at the time of payment, here’s everything you need to know about unsecured personal loan.

Have you gotten overdraft or had to pay high interest on the credit card rotary? Are you not comfortable placing your equity or car as collateral for a loan? Do you need a quick solution to help with your financial situation? If you have answered yes to any of these questions, unsecured personal credit can be a great solution for you.

What is unsecured personal loan?

What is unsecured personal loan?

Unsecured Personal Loan is an individual credit category that does not require you to place your assets (or your salary) in the purchase agreement as a way to secure payment. That is, you do not need to involve your car or your property in business as happens when you take out a secured loan.

More accessible than other types of credit

Unsecured personal credit is much more open to several consumer profiles. This is because:

  1. Unlike the home equity loan, the unsecured personal loan does not require you to have a property registered in your name to acquire the loan;
  2. Unlike when you take out a vehicle warranty loan, you will not need to include your car in the purchase agreement;
  3. To get your loan, you do not have to have a signed work permit or receive social security benefits. These are some of the requirements when hiring a payroll loan , for example.

Freedom to pay

Other loan categories have the payment of installments automatically deducted from your salary or benefit. This does not happen when you opt for unsecured personal loan. In addition, installments and maturity dates are generally more flexible and can be traded. In this way, you have at your disposal more autonomy to manage your money and to avoid that, in emergency situations, your savings are out of control. In the worst case scenario, you will not need to give your car or home to the bank if you can not repay the loan.

More competitive rates

If you’ve had a chance to check interest rates on special checks, you’ll know why they’re being criticized by many finance experts . This is because their value is much higher than the interest rates of other types of personal credit, including those of the unsecured personal loan. Overdraft interest rates are as much as 300% higher than what you would pay for an unsecured personal loan.

Faster hiring process

By now, you may have noticed that unsecured personal loan is practically a “free style” credit. Precisely for this reason, hiring becomes a much faster and easier process. You will only have to go through a credit analysis, without having to send documents like deeds, tuition and everything else. In addition, the process gets even faster when online loan services are available.

An exit to avoid default

In August 2017, an unprecedented survey of the Credit Protection Service (SPC Brasil) and the National Confederation of Shopkeepers (CNDL) was published on indicators of default in Brazil. The study found that approximately 60 million people are lagging behind their financial commitments in the country. This number represents almost 40% of all Brazilian consumers over 18 years of age.

Delinquency and the probable negative name can generate several disorders that are sometimes unknown to the consumer:

Credit Restriction


Once your name appears on the list of defaulters, any installment purchase, loans and financing may be refused. If it is not declined, you will likely pay much higher fees because of your default history.


If it was already difficult to get a job, not paying bills, can make it difficult to find. Companies can have access to the CPF of the candidates to investigate pending financial and other irregularities. And this can result in fewer options available for your professional growth.

For these and other reasons, it is advantageous to avoid delinquency as much as possible. The study “Defaulters in Brazil 2017: Profile and behavior towards debt” identified the main commitments in arrears between the defaulters and negatives interviewed:

All of the above commitments usually have higher interest rates than a personal loan. An unsecured personal loan may be a more convenient solution to get the lowest interest rate. So with a good strategy, you can prevent you from entering (or allowing you to leave) the list of defaulters.

Almost half of the respondents (47.7%) in the quoted research admits not being able to repay the debt in the next three months. Do not freak out. Make a plan to clear your overdue accounts. If possible, seek the help of an experienced professional to resolve the situation.

Tip: In case of any financial misfortune that makes it difficult for you to pay all bills, try to negotiate with your supplier and / or lender. You can achieve better conditions that can keep your name from getting dirty in the square.

Now that you already know more about payroll loans, look at these 5 tips to increase your chances of getting your personal loan approved . Do not forget: there are many other types of loans. Follow our publications and take advantage of what your savings can offer you.


Payroll Discount Loans: How Do They Work?


What Are Payroll Discount Loans?

The discounted loan, or consigned loan, has become one of the most sold modes by banks and financial institutions across the country. This is because this operation has a number of advantages, mainly for public employees, retirees and pensioners.

One of the facilities of this type of loan is that, as the name itself denounces, the installments are deducted directly from the contractor’s payroll. Therefore, the debt ratio is lower as well as interest rates, since the bank has more guarantees that the client will pay the debt without difficulties.

Any employee who works under the CLT scheme, that is, with a formal contract, can request the loan with a discount. There are no major constraints on values. What limits the credit is the monthly salary, since, by law, the installments can not exceed 35% of the net monthly income.

Those interested in taking a discounted loan should pay attention to the amount requested: installments can not exceed 35% of net monthly income.

How does it work and who can apply for this loan?

In addition to working with a formal contract, the employee must be in that scheme for at least six months to request the operation. Although the leaf discount loan is more offered to public servants, retirees and pensioners of the INSS, employees of private companies who have an agreement with the client’s bank, as well as members of the union of the category, can avail this type of loan.

If your company has an agreement, you only need to apply for the cash discount loan in HR. In these cases, a proposal is sent to the bank and, most of the time, it is approved, since the partnership guarantees the bank access to the payroll, which is necessary to obtain this type of loan.

In certain cases, the bank may reject the proposal sent by the company if it considers that the customer does not have good payment terms. This is because the installments can not commit more than 35% of the monthly income and the requested loan amount can not be higher than this percentage.

After approval, the loan amount is deposited in the current account and the following month, the installments are deducted from the employee’s payroll on the day agreed with the bank. It is important to take money into account on the scheduled date so you do not have problems.

Anyone who wants to, can also avail the loan directly at the bank, but financial institutions often give preference to contracts entered into in partnership with companies and unions.

In short, if you want to get a discount paperback loan, go to your company or your union to find out how you can apply for the deal.

What if there is a layoff?

Many consumers are afraid to take a discounted loan on the sheet and have problems if they are laid off. In these cases, even with one resignation, the risk of default is smaller compared to other lending modalities.

Under Brazilian law, when leaving a company and have a still active discount, it will be necessary to use up to 30% of the value of the rescission of the contract to pay the debt. Incidentally, this can be done directly by the company, which is linked to the bank, and the employee already receives the termination with this discount.

The risk of dismissal occurs more in the case of employees of private companies, since civil servants have jobs of greater stability and are rarely dismissed, and retirees or pensioners of the INSS also do not run the risk of having the benefit canceled by the Federal Government.

If the 30% of termination is not enough to pay off the debt, the rest of the installments must be negotiated between the bank and the dismissed official. In this situation, the transaction no longer implies sheet discount.

The contractor must pay the tickets monthly and, in case of complication, make a renegotiation of debts with interests no longer so lenient, since the bank no longer has the guarantee of a fixed job.

Who has a dirty name get a discount paperback loan?

 Who has a dirty name get a discount paperback loan?

For negatives getting a discount paperback loan can be a little more difficult. Even so, because salary is the main guarantee of the payment of the debt, the banks end up releasing the loan to those who have credit restrictions.

In the case of retirees or pensioners who have a dirty name, there is no problem, since the risk of not paying the debt practically does not exist. Therefore, there is no reason for the bank to deny credit.

If you have the negative name, before opting for the loan, assess whether you can meet the terms of the contract if you are fully able to take on that debt.

In some cases, after borrowing requests are rejected, people with a dirty name on the square end up resorting to relatives or friends with a clean name or who are already retired. And it is very dangerous to take a loan from someone else. The recommendation is to avoid this type of transaction.

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