Very often we use mortgage and mortgage terms interchangeably. It is worth pointing out, however, that in reality there are different products that may have other purposes. What is a mortgage loan and what is a mortgage? Loans and loans serve the same – they allow us to borrow money. However, they really have other support in Polish law, and thus other conditions, requirements and even costs. Most often we hear about mortgage loans – we can take them in a bank to build a single-family house or to buy a flat or a plot of land. However, we already hear less about mortgage loans. We can receive them both at banks and non-bank lending companies. So what is a mortgage loan and how is it different from the loan? What is a mortgage loan ? The mortgage loan is based on the provisions of the Civil Code. The security for this loan, just like a mortgage, is a mortgage on a given real estate owned by the borrower. It is worth noting that the purpose for which we want to get money in the case of a loan does not play a role. Therefore, we can transfer the loan not only for the purchase of real estate, but also for a number of other purposes – buying a car, organizing renovation, traveling around the world, paying off debts that can not wait. A bank or loan company offering a mortgage loan does not penetrate, what are the loan goals – we can spend money on every goal and we do not have to explain it in the presence of the borrower. The value of mortgage loans is usually calculated as 40-70% of the value of the property. Therefore, if the property is worth about PLN 200,000, we...
Month: March 2019
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March 12, 2019Many people actually need a loan. But they are afraid of the high rates. Those could become too much of a burden, they are frightened. One solution is a loan in small installments. However, you must be careful: this strategy has some disadvantages. Moreover, not every bank understands the same thing under this name. Loan in small installments: who pays? Anyone who is interested in a loan in small installments usually wants to pay only a few monthly payments. However, there are also banks that offer loans in installments. A classic example is education loan. This is paid in up to 36 installments. The monthly installments can only cover a few hundred euros. Therefore: If a loan or loan is offered in small installments, first look at the details. Loan in small installments: Crucial are the term and the loan amount Basically, the amount of loan installments depends on two factors: Amount of the loan amount Length of the repayment term The amount of the loan amount is a very simple logic. The lower the credit, the lower the rates can be. You can, for example, pay off a € 3000 loan with monthly installments of less than € 100. At runtime, you usually have the choice of twelve to 84 months. The longer the runtime, the lower the rates. If you are looking for a low-rate loan, extending the term is the best strategy. Loan in small installments: the disadvantage of long terms Banks usually find it excellent if you choose a long term. This fact alone should make you skeptical. Too long runtimes have two disadvantages: You pay longer interest. The total debt will be higher The interest rates for longer maturities are higher than for shorter ones. This also increases the total debt Both disadvantages lead...
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Loan companies have a wide range of proposals for their clients. Not only individuals, but also entrepreneurs are encouraged to lend money. However, before we get into one of the offers, we should get to know its details well. Currently, installment loans are very popular among non-bank loans for business. They resemble cash loans offered by banks – we incur a certain amount, and the repayment takes place monthly paid installments. This is an attractive alternative to payday loans, because we can then incur a higher sum, the repayment will be extended for a longer period. In this way installments will not be a serious threat to the company’s budget, even the one that has just started its activity. How to find a good loan company? The foundation is to find a reliable loan company. There are many of them in Poland, but not every one of them is wider known. It also happens that the loan company is geeky. How to avoid such offers? It is worth checking the opinions that we can now find online. We will find them on loan portals, forums, in comparison sites or rankings. When the opinions are positive, and on the company’s website we find all the necessary data, including its address data,, then we can submit an application. Otherwise, you should look for another proposal. We also pay attention to those loans that require payment of a fee to process the application, as well as those companies that do not have their headquarters or branch in Poland. How to choose the best loan for the company? The second issue is choosing the right loan for companies that will be matched in every respect. It is worth remembering that we should not decide on a loan in installments when we are...
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March 2, 2019When it comes to installment loans, the borrower agrees equally high monthly installments. These serve both the interest payment and the repayment. In comparison to other financing such as the discretionary loan or the partial payment function of a loan card, a installment loan is cheap. What the installment loan is worth The inclusion of a installment loan is useful in the purchase of long-lived assets, such as a car, a kitchen or large technical equipment, if you can not pay from the existing income. If the dealer offers a discounted or even free installment payment agreement, this is cheaper than the installment loan of a bank. Consumers are, however, critical of borrowing for pure consumption purposes, such as holidays, unless it is an investment in the future, such as financing a language holiday. Many purchases can also be financed through the current account, but consumers pay too high interest on out-of-pocket loans , especially as these are additionally burdened with compound interest. When paying in part on a loan card account, the interest charge is usually even higher than for a disposition loan. Make a loan comparison Before you decide on a installment loan, you should first make a loan comparison. Installment loans are provided by different banks and with different maturities. So that the consumer finds a favorable loan rates, it can free loan calculator to use for a comparison of the different offers. This shows him after entering the basic data such as the desired loan amount, the purpose and the preferred term, the cheapest offer. Decisive for the price comparison for installment loans is the annual percentage rate. The purpose of an installment loan is important, as banks offer special terms in some cases, such as the purchase of a vehicle. If the consumer does not...