Private lending does not have to be difficult. A private loan is easily found. Here you can see directly in an overview where you are cheap. Private loan providers and providers are numerous. For a private loan you nowadays have these three options: at your own bank, a price fighter (often a brand of an established bank) or at private individuals.
Private loan providers
Your own bank is usually very easy. You can often request your loan online without much extra paperwork, because your own bank already has a lot of your data. However, your own bank is not cheap. To borrow money cheaper, you better go to a price fighter, often a cheaper brand from the same bank. Tip: if you want a quote from all the banks in your inbox in one go, request your loan via Nederlands Credit Collective. They respond to your request within 20 minutes.
A price fighter is often cheaper than a normal bank. A price fighter is usually a subsidiary of a well-known bank. They usually offer lower interest rates. An example of this is Defam or Findio. Through these providers you can often get loans with a lower interest rate than at the bank. These providers can help you with this, they offer multiple quotes through different banks and providers.
Apply for a private loan
You usually have two choices for a private loan: a revolving credit or a personal loan. Which loan should you choose?
A personal loan has certainty and clarity as an advantage. You agree on a fixed amount of money, a fixed repayment period and fixed amounts.
A revolving credit has the advantage of flexibility. You agree on a limit, but you do not have to borrow all the money. Moreover, you can repay flexibly. You only have to repay a certain minimum amount every month, but if you have not yet reached the limit, you can just take out a loan.
Many people opt for a revolving credit, but run the risk of borrowing more money than they need. Many private individuals will regret this later. If you are not sure, it is better to opt for a personal loan. If you opt for a loan from private individuals, you can usually only opt for a maturing credit such as the personal loan.
Borrow money from individuals
Apart from the banks and the price fighters, you can also go to special private platforms for a loan. Here you can apply for a loan that is financed by private lenders. The platforms register your loan, approve it and collect the money for you.
Repaying your loan is just the same as with a bank, you simply repay a fixed amount each month. This money is then returned to the account of the private lenders. They therefore invest in your loan. In these cases you can only apply for a personal loan.
A well-known of these types of platforms is Lendico.nl. They have been around in the Netherlands for a few years and have arranged quite a few loans for private individuals in the Netherlands. This platform also exists in other countries, such as Germany. There it is a lot bigger and more famous than here. But there are also other platforms in the Netherlands.