The monthly repayment of an average home loan will take 32 percent of the average payment this year. Five years ago, the rate was still 52 percent, down 20 percentage points, according to Rinks Bank’s analysis that rising net real wages may contribute to the credit turnaround. http://www.appraiserdepot.com/loans-online-direct-lenders-i-need-an-online-payday-loan-from-a-direct-lender/ for more.
Interest on both personal loans and home loans is increasing, this year – mid-July – interest on home loans increased by 78 percent compared to the same period last year, and interest on personal loans increased by 66 percent – reports Rinks Bank, which is part of the property group, which looked at changes in net pay and loan repayments over the last five years. According to our loan expert, Penny Gerley, the decline in the base rate seen in recent years has only one effect on lending, and net earnings are also an important factor, as they are the primary cover for banks.
Five years ago, the repayment of a $ 8 million 20-year mortgage loan, calculated at average market rates in May 2011, represented a monthly cost of $ 73.7 thousand, which represented more than half, or 52 percent, of the 2011 average net real wage. Under the current rules, it would not be possible to take out this loan, because the debt brake rule will allow you to repay up to half of your net income. However, this year’s figures are much more favorable, as the monthly installment of this $ 8 million home loan would only take 32 percent of the $ 168.8,000 net salary.
Significantly due to lower interest rates and rising net wages. This indicator also decreased for personal loans. According to our analysis, in 2011, an average personal loan of $ 1 million with a 60-month maturity accounted for 21 percent of net salary, compared with only 15 percent this year.
Although the most recent – May – central bank data showed an average market rate of 5.11 per cent on home loans and 16.72 per cent on personal loans, banks are offering much better deals. That is why not only ask your own bank, but also compare the offers of other banks, for which there are very good online loan calculators today. According to the expert, the difference between the best and the worst loan in case of 1 million 60-month personal loans can save up to $ 500 thousand, while in case of home loans we can save millions of USD by comparing the offers of the banks and choosing the best Who.