An instant loan without Schufa : For people who are in an acute financial emergency and also have the problem of not getting credit at the house bank, such loan offers are the longed for light at the end of the tunnel. A situation that many supposed credit brokers make use of and with corresponding loan offers on customer catch go – not always with the intention of the people with corresponding problems really want to help. The possibility of being able to receive an instant loan without SCHUFA is closer than it might seem to one or the other in the form of a mortgage loan .
Money against pledge: honest fast loan with immediate payment
The mortgage loan keeps what credit intermediaries and other dubious financial service providers often promise: a quick loan without ifs and buts. An offer of which around one million Germans make use of it each year and bridge a financial shortage by exchanging valuables. For a long time pawnbrokers were a dark backyard business with a very doubtful image. Pfandleihäuser were seen as a central point of contact for criminals who wanted to convert their stolen goods into face value. A picture that has nothing to do with today’s pawn shops – neither in the backyard image nor in the alleged clientele. Rather the opposite is the case, because nowadays people of all walks of life perceive the offer of a mortgage loan. Be it workers, employees or the self-employed, even companies can be found in the breadth of the credit clientele.
Pfandkredit: Secure instant loan thanks to a pawn loan
For a good reason, because in comparison to many other offers for a schufa-free fast loan, the granting of a mortgage loan is subject to a clear regulation, which is known in the jargon as a pawn rental regulation. This regulation clearly defines the framework conditions for such a loan agreement. The minimum term of the contract is therefore three months. The fees are set up to a loan amount of 300 euros in a table and are at this amount at 6.50 euros per month. With a loan amount over 300 euros, the fees are an independent negotiable matter. In addition, 1 percent interest is due per month; In addition, there are fees for estimation, safekeeping and insurance.
King’s question: What does a mortgage loan cost compared to a bank loan?
If one looks at all the costs associated with a mortgage loan, even the largest financial laity may realize that the mortgage loan is anything but cheap. Especially not in comparison to a bank loan with market average conditions. For illustration, let’s take the following example:
With a mortgage loan of 300 euros with the minimum term of three months, resulting from the statutory interest rate of one percent and the monthly fees of 6.50 euros total cost of 28.50 euros. For a whole year, this would mean a bank loan with an annual interest rate of a whopping 38 percent. Which would end up being quite close to the legal interpretation of the credit book. The advantage of a mortgage loan compared to a bank loan is therefore definitely NOT in the cost, but in the fact that this is a real instant loan without Schufa – albeit one, admittedly quite expensive instant loan.