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What is nominal interest and effective interest?
Nominal interest rate is the annual interest rate for the loan without any additional fees or costs included. The effective interest rate shows the total cost of a loan over the course of a year, including fees such as arrangement fees and termination fees. Therefore, the effective interest rate is usually higher than the nominal interest rate.
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How much in advance does the customer pay for the home purchase consultation?
The customer does not pay early. We apply a 30-day invoice after the completion of the consultation/service, i.e. after the customer has been granted the loan and signed the contract to buy the home.
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How do I register my interest?
You start by registering and filling in your details. If you want to buy a home, you fill out an application to buy a home, etc.
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Does it cost anything to apply for a personal loan or business loan?
No, it costs nothing for the borrower who applies for a personal loan or business loan.
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What happens after registering an application with you?
We plan an unconditional meeting with you and use bankID to verify your identity. Then discuss how we can help you find your dream home. If you need a private loan, we will forward your application to our partner.
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How long does the consultation process take until everything is completed?
Depending on how quickly the documentation process can be completed and collected. Normally two weeks up to a month.
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Is it a free service?
No, it is not a free service. We can book a free consultation meeting to discuss our minimum costs.
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How quickly do I get a response from the banks?
Banks usually respond within 24 hours on non-holiday weekdays.
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What documents do I need for a loan application?
It depends on the requirements of the specific banks, but some common documents that are usually needed are pay slips and employer certificates etc.
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What are the requirements for borrowing?
- You must be at least 18 years old
- Be registered in Sweden for at least 1 year
- Have not had any debt balance with the bailiff in the last 6 months
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How long will it take me to buy a property?
Depending on how quickly the documentation process can be completed. Normally this takes 1 to a maximum of 3 months.
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When is it OK to sign the contract for my new home?
Before you sign, you must inform the bank beforehand. The bank needs to approve the object and also give you the go-ahead that they can grant you the loan for the object you want to buy.
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When do I need to use BankID?
Generally when you make an application for a loan. When we book an appointment to verify your identity and who you are and check your creditworthiness.
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When must the down payment be paid after the contract is written?
You usually pay the down payment, which is 10 percent of the housing price, within a week of signing the contract. The payment is then made to the broker's client funds account.
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How does the service work?
We will explain to you how we work during our scheduled meeting.
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What interest rate do I get?
The interest rate on a mortgage or personal loan is set individually according to your circumstances. By applying for a loan via our partners, a loan application is sent to several banks and lenders at the same time. The banks take a credit report and offer you the interest rate they are willing to offer.
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What is included in the service?
You will find the full description under the heading "Our Service".
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When is the loan disbursed?
If it is a mortgage, it is paid in connection with access. For private loans, the banks usually pay it out within 3-5 days after you have signed the agreements.
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Will I receive an associated service later on (e.g. that the service is later supplemented with something)?
After we have helped you with, for example, the home purchase or have brokered another loan, the service ends, thus the service is not supplemented with anything else. However, our customers can contact us for advice regarding general questions that we can answer and help with free of charge regarding the service/consultation that has been offered.
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How long is the repayment period for a loan?
It is slightly different depending on which bank grants the loan. But for the private loan, the repayment period is usually a maximum of 20 years and for business loans it is usually a maximum of 5 years.
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Do you charge the customer before the service is carried out or do you charge the customer after the consultation has been carried out?
We do not charge before the service is completed. The customer can choose to pay a fixed amount in the consultation fee or pay us per hour, but regardless, the payment takes place after the consultation of the service has been completed.
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What does it mean to sign a general power of attorney with you?
In order for us to be able to contact the banks and lenders on behalf of our customers, we need the customer's consent to this. However, the general power of attorney is only used for mortgage applications. The general power of attorney is only used for the purpose of helping the customer negotiate a mortgage and is usually limited in time.