Types of loans
Although generally we differ only between personal loans and mortgage loans, often also the following types of loans differ:
Loans to the consumption
They usually use these types of loans to finance consumer goods of lasting character as for example: a car, a motorbike, furniture, domestic appliances, etc and of not very high quantity.
Personal loans
This class of loans is used generally to finance specific needs in a certain moment and of a small amount. It is very similar to the loan to the consumption although in this case they are used trips are financed, a wedding, etc. that is to say, intangible or perishable assets.
Studies loans
These types of loans are much more used in countries like the United States, the United Kingdom and other European states. In Spain they are being more and more used, between other factors, because the financial institutions improve and extend his offers year after year. It is a question of loans directed to students to finance university registrations, studies of postgraduate course or study stays abroad. The costs occur rarely little more bargain sales than the personal loans.
Mortgage loans
The mortgage loan is characterized because, apart from the personal guarantee, a ‘real guarantee’ offers itself like payment guarantee that building consists of the mortgage of a good. In case of not returning the loan the financial institution would happen to be the proprietress of the housing.