Financing: the most attractive payday loan consolidation

If we talk about payday loan consolidation, the first thing that comes to your mind is GT payday loan consolidation company. But do you know how these products work?

Can I afford to finance a home?

Before looking at how different home financing products are, it is important that we analyze our economic situation to assess if we would be able to return a mortgage without problems. And is that to access these loans is not enough to have work and a salary, but we must show the bank that we are solvent. Let’s see what keys we have to take into account to know if we can afford the hiring of a mortgage loan:

  • Mortgage installments must not exceed 35% of our salary. This is the percentage that, according to the Bank of Spain, can be devoted as much to the payment of the financial debts, that is to say, of the monthly payments of a mortgage loan and of other credits.

  • We must have saved 35% of what the house will cost us. Real estate loans generally finance up to 80% of the value of the home to be acquired. As a result, we have to have the remaining 20% plus an additional 15% to pay the corresponding deeds (notarial and registration fees, taxes, etc.).

  • You also have to have a stable work situation. As is logical, banks lend their money to customers who have been working for a while, who earn a good salary and who have an indefinite contract.

A tool that can help us discover if we could pay a mortgage is the free simulator of, which will show us the total and monthly price of a mortgage taking into account all its possible costs. To use this calculator we just have to click on the red button located inside the following box:

Types of mortgages for financing homes

If we want to request a loan to finance a home, we have to know that these products are classified into three different categories according to their interest rate. Thus, depending on our needs and our risk tolerance, it may be more convenient to contract one or another mortgage. These are the modalities currently marketed by banks:

  • A variable rate: in this case, the interest on the mortgage is a differential (a fixed value) plus the price of a reference index, which is usually the Euribor. Periodically, the bank reviews the records of this index and updates the applied rate, so the amount of the fees may change in each revision.

  • At fixed interest: fixed rate real estate loans have an interest that remains unchanged throughout the repayment period. Consequently, their quotas remain unchanged, unless the contract is modified in some way.

  • A mixed type: mortgages of this kind have a fixed interest at the beginning and variable at the end. Normally, the constant rate is applied during the first five to 20 years and, after that period, an interest referenced to the Euribor is applied.

Currently, variable mortgages are the cheapest, since the Euribor quotes in negative numbers. However, with a fixed-rate loan, we would be protected from a possible rise in this index, so the decision to opt for one or another modality will depend on our risk tolerance.

Other expenses associated with real estate loans

Applied interest is one of the aspects of which the price of house financing is composed, but not the only one. And is that mortgage loans usually include several expenses within your fine print; some compulsory and others that depend on the bank that markets them. This is the list of all the additional costs of the mortgages:

  • The commissions: they are charges that the banks can charge to carry out certain operations. The most common are opening (for the formalization of the contract), early repayment (advance capital), subrogation (move the mortgage to another bank) and novation (agree a change of conditions).

  • Linkage: normally, to finance a home at a good price you have to contract other bank products, such as insurance or credit cards. Some of these services have a cost that must be included in the final price of the mortgage.

  • The expenses of incorporation and sale: is what it costs to write both the mortgage loan and the new property of the property. As we have seen, they are equivalent to between 10% and 15% of the value of the house.

In general, in commercial banking communications, only the interest rate of the offer and its main advantages stand out. Therefore, if we want to know what the additional costs of a mortgage are, we will have to carefully read your pre-contractual information and the documentation that the bank will provide us after approving the transaction.

How to get the best mortgage for your house

Now that we know what to look for when looking for home financing, we can start to check the conditions of several mortgages to start the application and hiring process. Let’s see what procedure we can follow to find a good mortgage loan that meets our needs:

  1. Ask for financing from several banks. In this way, we will have more than one offer on the table and we can compare their conditions to see which one suits us. Before going to an entity, we can also use an online comparator to see the characteristics of various mortgage loans without leaving home.

  2. Start the application process. If the product of a bank convinces us, we will have to deliver several documents so that the analysis department of the entity will study the viability of the operation. If yes, we will make a firm offer.

  3. Request the binding offer. In this way, the bank will be obliged to keep the conditions offered for a certain period of time, which is usually at least 15 days. During this period, we can go to other entities to compare their mortgages with ours.

  4. Go to the notary before the day of signing. In the three days prior to the date of the contract, we can ask the notary to explain the contents of the contract for free.

  5. Sign the deed The last step is to formalize the constitution of the mortgage loan. Of course, before doing so, it is important that we read the writing to make sure nothing has been changed.

Ways of financing for small and medium enterprises


BancosIn a few years, it has gone from the almost indiscriminate granting of credits to the practical non-existence of the same. The crisis has had dramatic consequences for the economy, which has questioned in many aspects the current system and has ended in a rethinking, for example, of the Spanish financial system, with the disappearance of the vast majority of savings banks.

Historically, banking has played an almost absolute role in the financing of Spanish companies. But the years of difficulties crossed by the sector and the economy have put this situation aside. The banks have had to make a transformation to be more solvent in Europe, and the requirements imposed from Brussels and from the Spanish government make it impossible for the granting of credit to be as before: accessible and cheap.

The tap for SMEs has been closed since 2008 when the worst moment of the crisis began. Six years later, the situation has changed, but the aid still comes with a dropper. The latest data from the Bank of Spain, from March of this year, indicate that the new loans granted to non-financial corporations for an amount of up to one million euros reached 11,795 million euros, which represents an advance of 5.08% compared to March of the previous year. But loans of more than one million suffered a year-on-year fall of 16.6%.

Fewer credits

The overall summary offered by the Bank of Spain is that the financing granted to companies continues to fall, and especially the loans granted by the banking sector. Bank credit to small and medium-sized enterprises decreased at a cumulative year-on-year rate of 5.2% in the first quarter. The Spanish economy needs to reactivate to complete the recovery. And SMEs have an essential role in this process.

More and more alternative ways of financing for SMEs appear. Two of the latest developments in the Alternative Stock Market (MAB) and the Fixed Income Market (MARF). They offer the possibility of listing on the stock exchange, but in a more flexible and economic way than the large companies. The SME makes an offer for the market, and also acquires the status of a listed company.

Although the loan has been reactivated, the requirements are very demanding and the cost is very high Another of the formulas that are gaining more and more relevance among SMEs and entrepreneurs is crowdfunding, a very simple system that aims to bring people together individuals around a project -connected through web platforms- to finance it in exchange, logically, for participation and obtaining some benefit- visit to.

And banks, although with many qualms when granting loans, the truth is that this year they have completed their financial offer with products that were not seen for a long time, as is the case of housing mortgages and special lines for SMEs Most of the main entities have reactivated the business loan, but the requirements are very demanding and the cost is important.

Other options

The small and medium businessman and the entrepreneur have a wide variety of options to support their business in any of the phases in which it is: from its creation, through its growth and even reaching internationalization. In addition to banks, MAB and MARF, crowdfunding, business angels or venture capital -the latter two are more focused on giving the initial boost to companies-, there are other possibilities at the national, regional and European level.

Some financing lines are crossed; that is to say, for example, there are autonomous communities that grant credits or subsidies to companies of the region that go to quote to the MAB; or banks that, in addition to their own offer, market the European Investment Bank (EIB) lines.

Only 50% of Spanish SMEs that apply for a loan get it The maximum request of SMEs in the field of financing is easy to access, practical and with preferential conditions, or at least affordable, in line with what is being in Europe, since currently in Spain the credit costs for SMEs are two or more times higher.

The outlook for the coming months is encouraging, although caution persists. Most experts foresee an improvement in the granting of credits to smaller companies. But it would be an improvement in comparative terms to previous years. Real growth rates are transferred between 2015 and 2016.

The choice between all the options is as simple as analyzing which is the one that fits our project and shows needs. And if you enter into a formula that requires negotiation, the most important thing is, rather than getting full credit, the cost that it will entail. Brussels recently recognized that only 50% of Spanish SMEs that apply for a loan get it because of the high financial interest they have to bear.

The National Court processes the former president of the Diputación de León for the Punic case



Marcos Martínez

The former president of the Deputation of León, Marcos Martínez, during his testimony at the trial for the crime of the president of the Diputación de León, Isabel Carrasco. EFE

National Court Judge Eloy Velasco has prosecuted five people investigated for business of the Púnica plot in León, including the former president of the Deputation of León Marcos Martínez, the mayor of Puebla de Lillo (León), Pedro Vicente Sánchez, and the Alleged “getter” Alejandro de Pedro.

In addition to these three, the judge has issued a transformation order in abbreviated procedure (equivalent to prosecution), for the former mayor of Cartagena (Murcia), José Antonio Alonso Conesa and for the exinterventor of the Diputación de León, Manuel Jesús López Sánchez, as well as for the online reputation companies of De Pedro: Eico and Madiva.

Martínez, who spent a month and a half in prison when the Punic case broke out, was put in the hands of De Pedro y Conesa “in matters of political advice, digital reputation and agreement in the award of various public contracts linked to the ski resort of San Isidro (Léon), as well as other advertising that were exclusively remunerative of their services, “explains the car.

In turn, De Pedro “lent to transfer notorious and influential people of the Popular Party” as the general secretary María Dolores de Cospedal or the ex-Secretary General Carlos Floriano the information provided by Martínez “on the support he enjoyed in the party in León, with the goal “to consolidate as president of the PP in that province.

Velasco, who gives 10 days to the Prosecutor’s Office and the popular accusation to present his indictments, has adopted this decision on the grounds that there are reasonable indications that these five people could commit crimes of fraud, influence peddling , negotiations prohibited to public officials , bribery, disclosure of confidential information, continued prevarication and embezzlement of public funds.

Of all the investigation on León, the judge has deduced that Alonso Conesa and De Pedro, through EICO and Madiva, “carried out works of reputation on the Internet for authorities and elected officials that generated a debt in their favor that was later paid for by those charges for irregular procedures. “

According to the judge, “this way of proceeding not only allowed them to obtain a direct financial gain , but also access to a relationship of trust with public authorities that gave them access to a network of contacts that would facilitate access to public contracts for themselves or for third parties. “

Thus, in order to consolidate his position, Marcos Martinez, who agreed to the Presidency of the Deputation of León after the murder of Isabel Carrasco, went to the services of De Pedro and the advice of Conesa.

Digital reputation

For this, they made “use of the network of digital newspapers that already existed in the stage of the previous president of the Provincial Council, through which projected a favorable image of the head of the Presidency.”

To this the judge adds the existence of “a mutual interest” in various public contracts linked to the ski resort of San Isidro consisting of the improvement and exploitation of the ski slopes and for the management of El Rebeco and Pico Agujas coffee shops.

On the one hand, Martinez could present this investment project as an achievement in the face of the elections, and, on the other, De Pedro and Conesa obtained the retribution that this meant for their companies.

In this operation to promote the ski resort, the mayor of Puebla de Lillo , Pedro Vicente Sánchez, and the Comptroller of the Diputación, Jesús Manuel López, also participated.

Velasco indicates that the proper procedure for awarding all these services would have been the calling of a public procurement procedure or making use of the press office available to the Diputación, “even more so when the service relationship has not been episodic but goes back to the period “in which Carrasco presided

Mayors call for fair local funding so that municipalism "stops being the ugly duckling of democracy"



Jornadas sobre financiación local en València

Conference on local financing in Valencia CITY HALL IN VALENCIA

This has been put together by several mayors of Spain, in response to the media before participating in the second day of the Municipal Conferences for Fair Financing that are held since Thursday in Valencia.

Specifically, Ribó stressed that in the sessions there is representation of mayors and councilors of all political forces across the range and they have reached positions “agreed” on the “major issues” affecting cities. “The municipalism needs to talk about financing because what it has is insufficient and it needs the problems to be seriously raised and addressed once and for all, we need to stop being the ugly duckling of democracy as it has been until now”, he said. urged.

In addition, he stressed that since 199 began to speak of the Municipal Cooperation Fund, finally the municipalities of the province of Valencia and “enjoy” of this aid from the Valencian Government.

In similar terms has been pronounced the first mayor of Zaragoza, Pedro Santisteve, Zaragoza in Common, who has stressed that the economy must be “at the service of people” because, in his view, “the criteria of budget stability can not conceal ideological positions of dismantling the Welfare State. “

In this sense, he insisted that it is necessary “to build bridges of dialogue and to open a project of in-depth reform of local autonomy”, which “must be endowed with financial autonomy and this has to be translated into a path of dialogue open to begin the process so necessary to help citizenship in a consistent manner. ” Thus, he noted that “you can not produce such Kafkaesque situations as the spending rule or the adjustment plans that are political corsets because the municipalities are complying with the rules.”

For his part, the ‘popular’ mayor of Malaga, Francisco de La Torre, stressed that the government has said that the solution schemes are made “while raising the response to local financing” and has blamed the problem on that “the entire autonomic process in Spain was not accompanied by a transfer of competences from autonomy to the local sphere”.

“Competencies of the CCAA should have passed to the local area that is closer to the neighbor and thus can be exercised better participation and transparency and strengthens democracy,” he said to regret that “much remains to be done” and will not be easy because “there are 33 years of inertia of autonomic centralism, but it is time to raise it”, he has defended.

He has also advocated raising what would be the effective cost of services and responsibility of municipalities when deciding expenses because, in his opinion, you have to look for the lowest cost but “the highest quality”. “I hope we will advance in the line of strengthening the municipalism that is the line of strengthening democracy”, said the ‘popular’.

The socialist mayor of Valladolid, Óscar Puente, lamented that when he left his city last night to attend these days, his daughter asked him where he was going and why he went to Valencia to which he replied: “basically to mourn.” For this reason, he remarked that the mayors are “tired of cryingand complain

always the same problems “consequence of” lack of attention from the financial point of view to our municipalities, “he said.” Nobody thinks of a local financing system that is not only not agreed with municipalities, but it is imposed against his criteria, “he remarked.

In this way, he pointed out that it is “increasingly clear” the need for “a mobilization of the mayors of Spain to achieve something that is absolutely fair”. “We are the administrations closest to the citizens and we are not taken into account and that can not be prolonged any longer, it is time to put an end to the problem of local financing,” said Puente.



For its part, the President of the Generalitat, Ximo Puig, who has also attended one of the sessions this Friday

It has added to the demand of the municipalities and has urged to improve local financing because this entails “improving the lives of people”. “Municipalism is the most direct space for auditing and improving the lives of people and therefore the alliance we are weaving from the Generalitat and the municipalities is what is causing all economic and social indicators in the Region for 20 years months have improved, “he stressed.

For Puig, from this fundamental issues, the State “has to reform and clearly address what are the different levels of local, regional and central administration” because it has stressed that “there can not be a monopoly of vertical decisions by the Government of Spain. “

“I believe in the collaboration of the institutions that belong to the citizens and not to the leaders.” The patrimonialization of the institutions contributes to the political disaffection and the non-solution of the problems, “said the head of the Consell.