Hopback loan – Bake together your loans and expensive credits

Borrowing more money when you are already indebted may sound silly, but there are times when it is a good solution. Mortgages or collateral loans as they are also called can be the solution when you have several other debts. You can easily compare which bank has the lowest interest rate on collateral loan with Gene Roque.

What is a Back Loan?

What is a Back Loan?

Hop loan is, as it sounds, the name a loan is used to back up previous debts and credits. When you have accumulated many smaller loans and loans at expensive interest rates, the solution can be a collateral loan. You then apply for a loan on a larger amount of money directly to settle all or part of your previous loans and credits. The very word collapse loan has become known through the TV program Luxxfallen, where the program managers help families solve their financial situation, which often contains many expensive loans or Kronofogden.

Basic Requirements for Jump Back Loans

Basic Requirements for Jump Back Loans

All lenders have their own requirements for you to be granted a loan but some things are basic. There may be things that you must be over 18 to apply for a loan. There are also lenders who have 20 years as a limit for applying for a loan with them.

Other common requirements are that you need to be registered in Sweden and have an income of at least $ 110,000 per year. Whether you can get a mortgage loan with payment notes is very different between the lenders. More and more approve loans even though you have notes. However, there are still many lenders who do not accept payment remarks. If you have debts with the kroner, you must settle them first before you can get a loan.

How to apply for a collateral loan

How to apply for a collateral loan

There are several ways to apply for a reverse loan. The most common way is to apply for private loans directly from a lender or through a loan broker.

Apply with a private loan

When you apply for a private loan, you apply for a loan without collateral. You choose what amount you want to borrow and what maturity you want on the loan.

If you applied directly to a bank or lender, they will credit you and compile your information. They then make a decision whether they are willing to offer you a back loan with your conditions. If they offer you a loan, they will also announce what interest you receive as well as the amount and maturity they offer. There is no guarantee that you will get a back loan for your previous small loans even if you apply for one.

If you apply instead through a loan broker, the broker takes a credit report. The intermediary then sends your application to several banks with which they cooperate. Usually, you get a response within 24 hours from the banks that want to offer you a mortgage loan. You then choose what you think suits your situation best. Remember to compare both the interest rate, other fees and the amount they are willing to lend.

Loan with collateral

If possible, it may be an option to merge your loans and credits with a secured loan. Borrowing with collateral means that you have physical collateral with a value that you pledge for the loan. For example, it could be a home, a summer cottage or a car. This type of loan is safer for the lender. If the loan is not paid as agreed, the lender can sell the collateral. In this way, the lender has a guarantee to get their money back. It also means that this type of collateral loan usually has lower interest rates than unsecured loans.

Benefits of collateral loan

Benefits of collateral loan

When you take out a mortgage loan, you do it to settle your old loans and credits. Having many smaller loans and credits is often both expensive and cumbersome. You need to remember to pay several invoices for the different loans. These short loans are often expensive interest rates. In addition, the risk is that you have several newspaper fees as you receive several bills each month.

The big advantage of gathering your loans and credits into a collateral loan is that you get everything on the same invoice. It is only a bill to keep track of so it gets paid and you usually get a newspaper fee. Many lenders of collateral loans have no fees at all.

In addition, with a collateral loan, you often get a lower monthly cost, since the interest rate on private loans or loans with collateral is not as high as for shorter fast loans. In addition, you have the option of obtaining the loan over a longer maturity, which can further reduce the monthly cost.

Good to think about

money loan

Keep in mind that you should not consume the mortgage repayment loan but use the money to pay off the previously expensive credits, and not to incur new expensive small loans.

Do not borrow more than you need

When you take out a mortgage loan, you first have to figure out how much you need to borrow to settle your debts. It is not a good idea to borrow more than you need to use to settle the old debts. Everything you borrow will have to be repaid.

Pay the most expensive loan first

You may not be granted a collateral loan for the entire sum you desire. If you get a smaller portion than your total amount of loans and credits, use the money to pay off the most expensive loans first. Of your old loans, the most expensive is not always the greatest. You need to make a calculation of which of your loans increases the most in cost and where you pay the most interest.


If your financial situation is not so stable, a co-borrower can be good. You may have a low income or many loans and credits. With a co-borrower with a stronger economy, there is a greater chance of being granted a collateral loan with the amount you want at a low interest rate.

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