{"id":16508,"date":"2021-09-16T21:00:00","date_gmt":"2021-09-16T19:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=16508"},"modified":"2021-10-14T11:42:21","modified_gmt":"2021-10-14T09:42:21","slug":"private-to-private-lending","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/private-to-private-lending\/","title":{"rendered":"Private-to-private lending"},"content":{"rendered":"<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>When we need to find financing, the first thing we think of is asking the bank for money. But there are other ways to get a loan. Often, due to a lack of knowledge, we do not use one of the tools that is closest to us: loans between individuals.<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">If the interest that the bank wants to charge you for a loan seems excessive, and you have already ruled out finance companies because, despite being faster, they are more expensive, there is another option: loans between individuals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This <\/span><b>form of community finance<\/b><span style=\"font-weight: 400;\"> can be a good way for both the lender and the borrower to gain something. On the one hand, the lender gets a return for his money; on the other hand, the borrower gets an interest rate below the market rate.<\/span><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component gallery\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-lg-10 offset-lg-1\">\n        <div id=\"slider\" class=\"carousel slide\">\n          <div class=\"carousel-inner\">\n            <div class=\"carousel-item active video-player inline-player\" data-video-id=\"6261387290001\">\n              <img decoding=\"async\" class=\"d-block w-100\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/08\/THUMBNAIL_JORDI_OLLER-TOPIC4.png\" alt=\"\">\n              <button type=\"button\" class=\"play\"><\/button>\n              <div class=\"carousel-caption\">\n                <p>11Onze Agent Jordi Oller tells us how to ask for a private loan.<\/p>\n              <\/div>\n            <\/div>\n          <\/div>\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n<div class=\"component text\">\n  <div class=\"container\">\n\n\n    <div class=\"row\">\n      <div class=\"col  col-lg-8  offset-lg-2\">\n        <h3><b>A written contract is the key to avoid misunderstandings<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The best way to avoid misunderstandings is to put the agreement in writing. In this private contract between the lender and the borrower, it is very important to put on record:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Date and place of the signing of the contract.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personal details of the parties involved (lender and borrower).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The amount being lent.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The repayment period.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The interest on the loan.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The settlement of the instalments (monthly, quarterly, annual, at maturity&#8230;).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Once the contract between the lender and the borrower has been signed, the agreement must be registered and, therefore, the borrower must pay the ITP tax (<\/span><span style=\"font-weight: 400;\">Impost sobre Transmissions Patrimonials i Actes Jur\u00eddics Documentats) <\/span><span style=\"font-weight: 400;\">at the tax office of the <\/span><b>Tax Agency of Catalonia<\/b><span style=\"font-weight: 400;\">, by filing form 600 within a maximum period of one month. If the loan is between a parent and a child or between two friends, no tax is payable, because <\/span><a href=\"https:\/\/atc.gencat.cat\/ca\/tributs\/itpajd\/tpo\/tramit-prestec-familiar\/\"><span style=\"font-weight: 400;\">loans between private individuals<\/span><\/a><span style=\"font-weight: 400;\"> are taxable transactions, but exempt from taxation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although the lender does not have to pay this tax, the Personal Income Tax Act does state that, when a loan has been agreed between private individuals, the lender can be obliged to declare the interest. The legal interest rate is 3%. However,\u00a0 when both parties agree, it is possible that this interest rate does not apply and therefore the lender does not have to pay tax on it. In the end, everything is left within the community.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><b>Want an 11Onze account?<\/b><b> Order batch in <\/b><a href=\"https:\/\/www.11onze.cat\/en\/ja-som-aqui\/\"><b>Get in line<\/b><\/a><b>. With the code we\u2019ll give you, you can open an account on October 1st.<\/b><\/p>\n\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<div class=\"component cards\">\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col col-xl-8 offset-xl-2\">\n        <h1>If you liked this article, we recommend you read:<\/h1>\n        <div class=\"cards__wrapper\">\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/11onze-tv\/discover\/private-loans\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/08\/THUMBNAIL_JORDI_OLLER-TOPIC4-800x401.png\" class=\"card-img-top\" alt=\"\">\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Private loans<\/strong><\/p>\n              <span class=\"card-time\">1 min read<\/span>\n              <p class=\"card-text small\">The purpose of this clip is to make known one of the possibilities of obtaining<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/reverse-mortgage\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/08\/THUMBNAIL_HIPOTECA_INVERSA-800x533.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">Economy<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>The Reverse Mortgage<\/strong><\/p>\n              <span class=\"card-time\">4 min read<\/span>\n              <p class=\"card-text small\">Homeowners, when they reach retirement age, can consider several options to keep their<\/p>\n            <\/div>\n          <\/div>\n\n\n          <div class=\"card\">\n            <a href=\"https:\/\/www.11onze.cat\/en\/magazine\/continue-learning-11onze\/\" class=\"card-link\" target=\"_self\"><\/a>\n            <div class=\"card-img\">\n              <img decoding=\"async\" src=\"https:\/\/www.11onze.cat\/wp-content\/uploads\/2021\/06\/IMAGE_RECESSIO_SARA_CASALS-800x447.jpg\" class=\"card-img-top\" alt=\"\">\n                <span class=\"card-category\">11Onze<\/span>\n            <\/div>\n            <div class=\"card-body\">\n              <p class=\"card-title p2\"><strong>Learn with 11Onze<\/strong><\/p>\n              <span class=\"card-time\">2 min read<\/span>\n              <p class=\"card-text small\">One of 11Onze\u2019s objectives is to make economic and financial knowledge available to<\/p>\n            <\/div>\n          <\/div>\n\n              <\/div>\n              <br>\n              <br>\n              <div class=\"cards__wrapper\">\n\n        <\/div>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":71,"featured_media":16502,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","footnotes":""},"categories":[1],"tags":[172],"class_list":["post-16508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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