During the second quarter of 2015, helped several thousand customers to review their blank loans, car loans, credits, installments and we helped many customers with the cash contribution to their first housing.
Ambition is to be able to offer competitive blank loans to customers
Whose situation causes interest rates of between 3.5% and 30.00%. In that interval we want to be able to find new loans that are as cheap as possible for the customers and find replacement loans that the customer can use to pay for existing more expensive loans; We do this by letting our partners / banks compete for our customers.
In general, it can be said that the customers who end up in the lower part of the interval are often two applicants (main applicant and co-applicants) with stable finances and low UC scores. It is misleading to generalize, because the conditions are set individually, but to give a clue, “stable” economy means that you have been at the same workplace for a number of years, that you have a gross salary (salary before tax) of over SEK 20,000 per month and that your current debt / equity ratio is not high. That description fits most Swedes today and it is therefore no wonder that the distribution of interest that our customers have received looks like it does in the graph below.
The graph shows a small selection of 400 customers that we have made from all the loans that provided during the second quarter of 2015. Although we limited the number of customers in the sample, this is illustrative, we think, that the majority (52%) of our customers during Q2, the interest rate was between 3.5 and 7.0%. If you currently have an interest rate of more than 5.5%, and you know that your finances are stable, then we recommend that you look over their loans – provided you have not done so too recently.
Since the end of the second quarter, we have the opportunity to help customers with payment remarks and we are proud to be able to make a change in people’s lives, which due to payment remarks to a large extent are otherwise excluded from the Swedish loan market.
We at humbly thank our customers for the confidence we get each time they give us the assignment to review their credit situation. At the same time, we thank our partners for the outstanding job you do and the opportunity you create for us at to help our common customers.
Few examples of the results of our work during the second quarter
For explanatory reasons, we have omitted names and personal data. Information about what the customer had before our work is based on what the customers themselves have said. The application date is stated. We would like to point out that the interest rates we mention in connection with the credit companies / banks we name are in no way representative of these credit companies / banks. We also do not say that these credit companies / banks are in any way better or worse than the partners we have. In Sweden, however, it is very difficult to find the right bank on your own and therefore many people have worse conditions than they could have.
2015-04-07 Customer collected their loans, received a collection loan through us of SEK 200,000 with an interest rate of 6.39% to pay SEK 170,000 which he had on Norwegian with “high interest”, SEK 30,000 with SEB with 7.5% interest and 30,000 at Ikano with 9.0% interest. Total loans and lowered their monthly cost from about SEK 6,000 to SEK 1,998.
2015-04-08 Customer paid 56,000 on a credit card with 11.9% interest with a loan she received through us at 5.39%. Lowered the interest rate by 6.51%.
2015-04-10 Customer paid off a loan he had on SEB of 190,000 with an interest rate of 8.2% with a loan he received through us at 5.39%. Lowered the interest rate by 2.81% to SEK 190,000.
2015-04-13 Husband and wife took a down payment loan of SEK 350,000 from us with interest of 5.97% after receiving a rejection from their own bank.
2015-04-16 Customer paid off a loan and a credit card debt. The loan was SEK 119,000 with 13% interest and the credit card debt of 31,000. Got the full amount from one of our partners of 8.3%. Total loans / credits, lowered their interest rate by about 5%, and the monthly cost from SEK 4,160 to 2,665.
2015-04-21 The customer received a collection loan of SEK 80,000 through us which she used to pay off loans from Klarna, Jotex, Halléns, “and more”, while receiving SEK 30,000 over which she wanted to use to take driving license. Collected their loans and despite the fact that the loan was SEK 30,000, we lowered the monthly cost by SEK 400.
2015-04-22 Husband and wife applied for a loan through us to collect their loans. Got a collection loan through us at 300,000 by 3.75% to collect loans and credits.
2015-04-27 The customer had SEK 250,000 in credit card debt with Nordea with an interest rate of about 10% and received a compensation loan from us with 5.39% interest on the entire amount. Lowered the interest rate by 4.61% and saves over SEK 11,500 just the first year.
2015-05-05 The customer collected his loans through a loan proposal we produced and paid for “mixed loans and credits” of 200,000 with 3.95% interest.
2015-05-06 Customer paid off two loans with Nordax, 100,000 with 6% interest and 122,000 with 11%, through a collection loan of SEK 222,000 from us at 4.45%. Collected two loans and lowered the monthly cost from SEK 4,500 to 3,518.
2015-05-20 Customer paid a loan of SEB of 250,000 with 13% with a new loan which she received through us at 5.39%. Lowered the interest rate by 7.61%.
2015-05-22 Customer paid a loan of 7% interest with a loan which he received through us at 3.95%. Loan amount SEK 250,000. Interest saving over the term of the loan of approximately SEK 56,000.
2015-06-01 The customer wanted to collect six loans. Got a collection loan through us at SEK 90,000 with a 5.4% interest rate. Reduced its monthly cost from SEK 4 500 to SEK 2,729. SEK 1,771 lower monthly cost and total 6 loans.
2015-06-03 Make and wife got the chance to solve their loans and credits through the loan proposal that we got. Total loans and credits with a loan through us of SEK 300,000 with 4.34% interest .
2015-06-04 Customer had four very expensive loans totaling SEK 130,000 with 30% in interest that he “dreamed of” to get together. Received the full amount from one of our partners with 8.90% interest. Could raise four loans, 21% lower interest rate, corresponding to about 25,000 in interest rate differential, only the first year .
2015-06-09 Customer had 14 loans and credits and did not think it was possible to collect them. Got 150,000 SEK granted with 8.90% interest and could pay off many of their loans. The customer was very happy, to express himself mildly. The monthly cost was $ 14,000 for his current loan and could have paid off many of them. Monthly cost for the new loan was SEK 1,992.
2015-06-09 Got a 0.15% lower interest rate through us than the customer had at one of the big banks – the loan was redeemed. 4.95% instead of 5.10%. Solved the loan even though the difference was small; why not? There are no hidden fees, this particular bank does not charge a lay-up fee and they also offer payment-free months if you would need it a month that you do not get the economy to go around.
2015-06-17 Issued a loan with a 22% interest rate with a new loan that we raised with 11% interest. Interest rate halving; 11% lower interest rate.
2015-06-23 Helped customer with payment note to get a loan of SEK 85,000 that customer used to pay the corresponding amount at Cash Buddy, Thorn and two credit cards. Collected their loans.
2015-06-24 Total loans totaling 220,000 with interest rates above 10% with a loan she received through us at 7.8%. 2.2% lower interest rate of SEK 220,000.
2015-06-30 Customer paid a loan of SEK 100,000 with Nordax with 16.9%, a small loan of SEK 48,000, and received SEK 52,000 for a renovation when she collected her loan from one of our partners. The new loan of SEK 200,000 had an interest rate of 5.75%. Lowered the interest rate of SEK 100,000 by 11.25%, total loans and received the increase she needed.