Lifetime loan, regulation coming soon.
Thanks to the arrival of the summer, the tax breaks and the bonuses granted, the Italians are increasingly dedicating themselves to renovating their home and they do this by committing themselves with loans aimed at.
The excellent performance of the loans
Observatory, which analyzes all the information relating to the requests of savers and their financial profile. From the analysis it emerges once again that the most granted purpose is to renovate the house, 34.5%, which clearly detaches the loan for the purchase of the used car, 21.8%, and for the furnishings, 16.2%. The geographic area affected by the largest disbursements is Southern Italy with 39.1%, followed by the North with 39% and the Center with 21.9%.
The financing to restore the house is first in preference also on the demand side with a percentage of 22.3%. In second place we find those to buy a used car, 19.2% and to have more liquidity, with 18.8%. The latter value rose sharply compared to what was recorded in 2006, when the share stood at 10.7%.
Unlike disbursements, the greatest customer demand comes from northern Italy with 42% while the South stands at 36.3% and the Center at 21.7%.
With reference to the average amount, there has been a decrease compared to last year both in the amount requested, which went from 11,060 to 10,745 USD, and in that paid, which fell from 12,003 to the current 11,723 USD. Both figures are far from the values recorded in the first half of 2008, even if those actually granted showed an increasing trend compared to the period of maximum crisis.
In 20.1% of cases, users request financing with a duration of 60 months, followed by 84-month loans with 17.4% of the total and 36 months with 15.6%, while only 9.4% of applications provides for a 72-month time frame. The five-year period also tops the ranking of loans actually disbursed (19.6%), followed by 48-month (15.2%) and 36-month (15.1%) loans.
Finally, analyzing the average rates,
It is noted that the percentages of 2016 are the lowest in the last five years. For finalized credits, interest stands at 9.25%, a point and a half less than 10.65% of personal ones, while the best online offers stop at 6.3%.
Through the portal it is possible to carry out loan simulations that allow the customer to compare the offers of the various institutes, in order to choose the product that best suits their needs.
As of June 16, the most convenient offer for a loan of 10,000 USD is to be returned in 60 months and requested by a forty year old employee residing in Perugia who wants to buy a used car is that of Astro Finance that with Credito Auto proposes a monthly installment of 193.56 USD.
The fixed Tan is 6.05% and the Taeg 6.22% while there are no other expenses to be incurred of 16 USDs for the stamp duty that will be charged on the first installment. The total amount of the loan at the end of the 7 years amounts to 11,613.64 USD.
Similar conditions, with zero investigation costs and installment collection, are also applied to the Agree Bank solution of Goodweb, for which the monthly fee is 193.33 USD. The Tan is 6.0% and the Taeg 6.27%; there is an initial charge of 16 USDs for stamp duty, charged on the first installment while the sum to be repaid over the 60 months will be 11,623.68 USD.