Most major credit agencies present a similar procedure for obtaining credit online, often within days and without moving. There are three major stages: the request, the signature & the sending, the reception.
Online Credit Application
Before you even ask for your loan, you have to think about how much you can borrow based on your income and needs, that is, your borrowing capacity . Most organizations, offering ways to subscribe to credit online, set up credit simulators . Roughly, they are calculators that indicate the amount that can be borrowed according to the income of the person who is the source of the demand (that is to say, the net taxable income), but also of his / her debt ratio which represents the amount repayments of all loans already subscribed. It is a guarantee of the financial health of the individual (NB: a good debt ratio is one that is less than 33%) .
Once the desired amount has been defined, it is strongly recommended to simulate several credit scenarios online by modulating the duration of repayments. The principle is simple: the longer this period increases, the more the cost of monthly payments, and therefore of credit, also increases. The duration must therefore be chosen according to the borrowing capacity previously defined keeping in mind that a too short duration, such as a too long duration, can paralyze, in the short or long term, all the financial capacity of the ‘borrower. This is why it must be carefully thought out thanks to the different simulators.
Simulation remains important for determining its borrowing capacity, but it is only effective if it is operated on several online credit sites. This is why, once the order has been determined, several online applications must be made to compare the most advantageous offer with the price and the ancillary conditions, thus making the competition work.
Accepting the preliminary offer – signing and sending documents
At the stage of accepting the online credit proposal, two cases must be distinguished according to the amount borrowed. In fact, for the small amounts, no guarantee is necessary, that is why it is enough to indicate its acceptance to the lender organization which will send in return a loan contract to sign and to return by postal way, or even by electronic way in some cases.
The immediate acceptance of an offer of online credit for consumption is possible but in the case of mortgages, it must be sent by mail or other durable medium, in accordance with Article L313-24 of the Consumer Code .
Since 2015, and the entry into force of the Macron law, the delay of repentance makes it possible to return to its credit commitment online under 14 days in case of consumer credit. This period begins the day after the signature of the offer and is extended until the next business day if the fourteenth day is a Saturday, a Sunday or a holiday. The formality is simple: just use the withdrawal form attached to the contract.
Beware, this period of 14 days is valid only in case of consumer credit, ie a credit that relates to transactions other than those related to real estate and to buy consumer goods, for an amount between 200 and 75000 € with a repayment period greater than 3 months.
A real estate loan has, meanwhile, a reflection period of 10 days from receipt of the credit offer. Acceptance can only be done by mail or “any other means agreed between the parties likely to make certain the date of acceptance by the borrower” (art L313-34 of the code of consumption).