Business Analysis

Tuesday, October 15, 2013

Mortgages in Spain : What difficulties are common Spanish consumers ?

From the year 2009 have been increasing difficulties in obtaining mortgages and savings banks as these entities are more restrictive and applications look more closely. The following explains some of these impediments that could pose a bank to its customers when granting a mortgage.

Borrowing Capacity

The bank estimates that the borrowing capacity of the applicant bank mortgage is 30 to 35 percent of household income. Not more.

But it should include other debts, not only the possible monthly mortgage payment but other characters such as the car or credit card . If the sum of these debts is greater than 30 percent of family income may be negative response or be negotiated .

Lists of defaulters
Persons appearing in Asnef , Rai or any other list of defaulters it more difficult , though it may seek banks granting mortgages despite this but the interest on the loans will be substantially greater .
Present a guarantor

If the documents do not entirely convinced that the bank may ask for a guarantor , a person who assumes the monthly payments if the holder fails mortgage loan with them.

This is a disadvantage because they must ask another person ( the prospective guarantor ) to be put in a compromising position , to take a risk. Generally, only the parents are willing.

labor Sector
According evolve sectors of the economy banks are adapting and prefer clients who are employed in affluent areas or companies consolidated and that the employment contract is for an indefinite period (fixed ) .

This is a problem because the labor market trend is temporary employment or for a specific task .
customers concidos

It is a clear trend that banks considering applications from their own customers more willing than new customers.

This is because customers know their credit histories and employment and know in advance how much may or may not take the risk of granting a mortgage or not.
This limits the possibilities for consumers who should go , first, to the entities which have a previous connection , which usually refers to mortgage deals one or two institutions.

Wednesday, October 9, 2013

How do money orders ?

By money order can be made a money transfer to a recipient , both within a country and abroad, in exchange for a service fee and % of the amount sent . This article summarizes the conditions for a postal money order or through a company specializing in shipments.

National Money Orders through postal

In Spain , it is possible to make money transfers through the service provided by the Post and Telegraph company that offers rates and delivery periods shorter than private companies , being a public interest entity of the state.

For domestic shipments , within the peninsula , and including Andorra, the service has a fixed cost of 1.60 euros ( to July 2011 ), plus 0.80% of the amount sent , for amounts from 0.10 up to 300 euros (July 2011 ) for receptions in cash, and up to 3,000 euros ( to July 2011 ) for checks or transfers received .

The delivery time is 3-5 business days and is considered urgent if the money is deposited before 13h and goes to large cities .
International shipments with Post and shipping companies

For international shipments , there are 4 modes of transmission:

    Shipping via an agreement between public correspondence services in the countries of origin and destination, with the possibility of delivery to the recipient's address , with a fixed cost of 1.81 euros (July 2011).

- Electronically , for 4.59 euros (July 2011) , from Spain to countries like Ireland, Japan, Belgium , Germany , Portugal and Switzerland .

- For fast-track , 5 euros (July 2011) fixed cost , to be delivered to the post office in countries such as Chile , Morocco , Ecuador , Peru or Colombia .

    And through the telegraph Postfin express service , which is a fixed cost of 24.45 euros ( to July 2011 ) .

In all cases , Correos Spain charges between 0.77 and 0.80% of the amount sent .

Finally , another option are private companies who ship electronic transfer , to more than 150 countries , and an option to collect the money in post offices , public establishments , travel agencies , etc. . with a fixed cost based on the amount sent , for example , in the case of Western Union, is charged EUR 10.50 ( to July 2011 ) for amounts of less than 45 euros (July 2011) , to a maximum of 107 , 50 for amounts that reach 3005 euros (July 2011).

Thus, it is possible to choose between various options in terms of time , safety and cost , depending on the country of destination and the urgency of the shipment.