This is a question that generally arises for any credit applicant. The correct answer to this question, however, needs to be approached from different angles. Lica explains in detail in this article how to obtain the best conditions for your private credit. Besides, who wouldn't want to take advantage of private credit at the best market rate? The answer is nice and well everyone! However, we will see that to achieve this, it will be necessary to meet certain precise criteria.
The market situation
In Switzerland, the private credit market is shared between around ten companies. There are also private lenders but these being very few, they will not be considered in this article. It is therefore mainly a private market in which competition is free. However, the Federal Council sets a ceiling for the maximum interest rate. authorized to ensure consumer protection. In 2021, the maximum authorized rate is set at 10% for private loans.
In a competitive market, the first step to obtaining private credit at the best rate will be to compete.
To obtain a private loan at the best rate, two possible solutions:
- Be an expert in private credit, properly prepare your file and make requests to the various banks in the market. Be careful, in case of refusal, your credit application can quickly turn into a nightmare.
- Choose a loan broker who has an excellent reputation and let them get your credit at the best rate in the market.
In this context, the second option is certainly the most advantageous if you really want to obtain a private loan on excellent conditions and especially if you want to save precious time in research and administrative procedures.
Your personal situation is a key factor in obtaining private credit at the best rate.
It is certain that a bank will not be ready to offer you great terms if you are a bad payer. Indeed, a bank is not going to run the risk of losing its money if it has doubts about your ability to repay. That is why Lica is always concerned with preparing impeccable financing requests in advance. This sometimes implies a little more interaction with our customers. However, it is the guarantee of always obtaining private credit at the best rate.
Your experience with private loans
It may sound surprising, but banks appreciate clients with whom it is possible to establish a private credit history. A customer who has never had credit could be rated much lower than a customer who has had private credit before. Especially if the latter has regularly paid his monthly payments.
In order to highlight an irreproachable payment history, Lica systematically ensures that your data is analyzed in certain registers. So we start our work on the basis of a documented situation. It will therefore be much easier for us to direct your request to the right organizations. In the event that your history is not good and therefore it would be impossible for us to obtain a credit at the best rate, we will direct you to our data cleaning service beforehand. CleanData. Then we can take over your file and start negotiations!
Choose an independent broker
Unlike a bank, the intermediary has a duty of success towards its principals. That is to say that the banks bring above all an interest in the quality of the files. So mainly on the overall performance of the loans they grant. A bank will always prefer security rather than taking risks when lending funds. The independent broker will promote the highest possible acceptance rate. Thus its customers will be happy to obtain credit at the best rate when possible.
The choice of broker is very important ! Some providers are less concerned with medium or long term results and favor speed by putting aside advice. So check the seriousness of your interlocutor before asking.
The preparation of the file one of the keys to obtain a loan at the best rate
And yes, there is no miracle! Only the best presented files will be accepted quickly on favorable terms. If you want to obtain credit at the best rate, follow the instructions of your Lica advisor. He knows how to prepare and submit your case to get the result you expect from him.
When the latter asks you for some supporting documents or details about your situation, remember that this is not to bother you or out of curiosity. At Lica we take the time to get to know our customers and do everything possible so that you can get your loan at the best rate.
An offer too good to be true
We cannot repeat it enough but offers such as "Your credit at 0%" or "Your loan without proof" are in 99.99% cases a scam. No institution would take the risk of losing money by lending it! There are more or less interesting offers on the Swiss market but the only solution to obtain credit at the best rate is to call on the services of a professional.
Our conclusion to obtain a private loan at the best rate:
To best summarize our different explanations, here are the three points to remember to get your loan at the best rate:
- Choose your broker carefully
- Follow his instructions carefully
- Do not unnecessarily increase your credit requests
With these three principles, you will have every chance of obtaining the financing you need to carry out your projects.
Lica as a neutral and independent service provider assists several thousand customers each year in obtaining credit under the best possible conditions. You can gladly contact one of our managers in the language of your choice to talk about it.