Astro Finance debt consolidation: is it worth refinancing the sale?
The specific product created by Astro Finance as a loan or “mortgage” for debt consolidation is Rata Unica, but it is possible to use as a system to merge the existing loan installments even with the sale of the fifth.
The differences between these two systems are notable above all as regards the methods of extinction: with the “real” consolidation loan Astro Finance is the bank that directly extinguishes the existing loans and replaces them. With the assignment of the fifth, however, it is the applicant that, once the required sum has been obtained, will have to provide for the extinction of the past loans still not fully repaid.
What advantages do you get?
Regardless of the type of financing chosen to consolidate one’s “debts”, the main advantage is to improve the organization of the installments, as having only one deadline makes it easier to control payments. Not only can you choose a time or a type of financing with lower rates than those applied to existing loans, it is also possible to obtain an economic advantage.
Who can request them?
The actual consolidation loan only requires two fixed requirements:
- having already more than one ongoing loan to “consolidate”;
- have a demonstrable income to be judged “financed”.
In addition to these two conditions, there is also the positive creditworthiness and the age at the age included in what, in the specific case, Astro Finance is willing to finance.
If instead you want to opt for the sale of the fifth, the aspect of positive creditworthiness is lost, as even in the case of a bad payer, the loan can still be disbursed. On the other hand it is not enough to simply have a demonstrable income, but there is also the need to provide a pay slip or pension slip: it is therefore a solution aimed at public and private employees or pensioners. Self-employed and freelance workers are excluded.
How is the request made?
Also on the application process there is a certain difference depending on whether you choose the sale of the fifth or a consolidation loan. For the latter, the starting procedure, with rapid visualization of the estimate obtained, is almost direct, providing for the completion of the few spaces provided in the online calculation system.
The amount that can be requested is from 1000 to 60 thousand USD (Source: Astro Finance official website – Date: 12/22/2017), and depending on the amount requested there will be different minimum and maximum durations. As you can see, however, the steps are simply 3:
- the calculates the installment and visualization of the estimate;
- start of the loan request;
- use of the digital signature to complete the request.
If Astro Finance needs other documents, it will proceed with the request, especially favoring the use of e-mails.
Sale of the fifth Astro Finance
In the case of the sale of the fifth, on the other hand, the departure of the online functions requires the insertion of all the useful data so that Astro Finance can make a personalized estimate:
Obviously it is possible to see even if there are margins to request additional liquidity compared to that necessary to pay off the loans already in place.
Main features and economic conditions
As already mentioned, for the section of the “loans” the Astro Finance system provides for the possible request for a maximum amount of 60 thousand USD, while the age of the applicant must be between 18 and 75 years. As other requirements are mandatory we find:
- residence in Italy;
- a demonstrable income (regardless of the source).
As fixed economic conditions we have:
- free preliminary costs;
- free installment collection;
- free periodic communications.
As for the rates applied, they vary according to the period, the presence or absence of promotions and the duration and amounts requested. To obtain information on the rates currently applied it is advisable to make an estimate online from the official website.
For the sale of the fifth, in particular the pension, always referring to what was reported on the Astro Finance website in December 2017, we see that the fixed recurring conditions are:
- zero brokerage fees;
- zero management fees;
- zero stamp duty for periodic communications;
- zero preliminary fees;
- zero stamp duty and / or substitute tax.
Everything else can only be assessed following a personal estimate.
Astro Finance, like other banks and financial institutions, has a good selection of financing products. However, this does not allow us to assess the validity of the offer upstream, which, as in any case, is conditioned by the actual needs and characteristics of the type of loan requested. Precisely for this reason it is essential to make some assessments of a personal nature, starting possibly from more than one estimate.