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Real estate loan – how to get it?

September 8, 2019

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In our lives, we often deal with various problems – including financial problems. In such cases, we cannot always count on family help. Then loans may be helpful. However, people with debts have no chance of getting a loan from a bank or non-bank companies. The solution may then be to take out a loan against the property. What is a real estate loan and how to get it? We answer this question in the article below. We invite you to read it carefully!

 

Creditworthiness for debts – analysis

Creditworthiness for debts - analysis

If we have debts, our credit standing is very low. If we are among people who have very little chance of getting a loan from a bank, you can take advantage of a non-bank loan. Real estate loans are a great solution for people who are in a very bad financial position. Due to the fact that the creditor has the option of securing himself by entering our apartment or house on the mortgage, we can get the amount of the loan we need – even $ 5 million. The advantage of real estate loans is also the long loan term – it can be up to 10 years.

 

Real estate loan – what is that?

Real estate loan - what is that?

The term ” real estate loan ” may seem confusing to some people – in fact it is a mortgage loan secured by real estate. Creditors secure their claims with a real estate mortgage. They enter the mortgage into the given land and mortgage register. Debtors who stop paying their liabilities must take into account that creditors can bid or take over their property.

If the bank is to grant us a loan or mortgage, a real estate appraisal must be carried out. Real estate valuation means that specialists from the bank can determine the maximum amount that a customer can apply for. If a loan is to be granted to us by a private loan company, then real estate valuation is not necessary. As a result, a person who is interested in taking out a loan receives their money immediately. Non-bank companies reduce formalities to a minimum.

 

What can you spend a loan against real estate?

What can you spend a loan against real estate?

A large number of people are certainly asking the above question. If we decide to take out a loan against the property, the lender will not verify for what purpose we want to spend the obtained money. We can allocate the amount received to any purpose you choose. For example: we can spend it on developing your business, building a new house or for your current needs.

Due to the fact that the creditor obtains security in the form of a mortgage entry on the property, we can obtain a very large amount. An additional advantage of mortgage loans is the fact that loan companies do not require their clients to provide evidence of the amount of income they receive. They only verify property documents.

Mortgage loan – how to get it?

August 31, 2019

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If in the near future we have a lot of expenses related to, for example, building a house or renovating an apartment, we usually take a loan. However, it is worth knowing that the same goals can be covered by taking out a mortgage loan. In the following article, we explain very precisely what a mortgage is and what conditions must be met to obtain it. We invite you to read carefully!

Mortgage loan – the most important information

Mortgage loan - the most important information

Taking a loan to buy basic home appliances such as a new TV set or washing machine is a normal situation. The low loan amount is also connected with the fact that we will have a short funding application procedure. Problems may arise only when we want to get a loan amounting to several hundred thousand zlotys and at the same time do not want to reveal for what purpose we intend to spend this amount. In this case, the best solution will be a mortgage. However, it should be borne in mind that the type of financing is secured by our property.

Mortgage loans and mortgages – what’s the difference?

Mortgage loans and mortgages - what

Many people identify mortgage loans and mortgages. This is a misconception – it’s worth knowing that these are two completely different products. A mortgage is a targeted solution that is intended for the purchase of real estate, modernization or renovation. Persons taking such a loan become the full owners of such a plot when they fully repay this type of loan.

A mortgage loan is a product that owners of unencumbered property can use to release their ‘frozen’ financial capital. This solution has one extremely important advantage. The point here is that when taking a mortgage, we have complete freedom in spending the funds obtained. The identification of these two financial products is due to the fact that in both cases real estate is the main collateral of the liability. The loan and mortgage allow incurring liabilities, which can amount to several million zlotys. In turn, the repayment period of this type of financial liabilities can be up to 35 years for a loan and 30 years for a loan. The difference can also be seen in the interest rate. As a rule, mortgages are cheaper than mortgages.

Mortgage loan – maximum amount

Mortgage loan - maximum amount

It is worth knowing that due to the fact that when taking out a mortgage loan we can count on a very high amount and we do not have to inform the banking institution what we want to allocate the funds obtained, the process of applying for this loan will not be short. Under no circumstances will the bank’s decision be immediate. When assessing applicants’ ability to service their debt, banks will verify their revenues and current financial standing. They also thoroughly assess real estate properties that play the role of basic collateral for a given obligation. The maximum loan amount depends on the value of the property.

Know your money in the right place, where interest will remain high for years – Credit

August 28, 2019

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Where is it worth keeping our money in the coming years if you want to be safe and always get a good return? Those who are about to commit their money are most afraid of what will happen if interest rates soar.

We looked at which of the Long Term Investment Accounts that offer tax benefits are offering a decent return right now and which would keep up with rising interest rates.

Government securities already contain inflation-tracking products

Government securities already contain inflation-tracking products

 

Which, in any event, changes the market environment at an acceptable rate of return.

But do deposits know this, or is the interest always carved in stone? This is especially important because many people would like to commit their money for a longer period of time to get away with the 6 percent EHO and the 16 percent interest tax.

However, among the tax-free savings at most banks

We found only fixed products, with two exceptions among the best.

It is E-Money Bank’s TBSZ product that pays a really high yield, and there is no account management fee at the credit institution. And the interest rate always changes with the current central bank base rate. If it increases by one percentage point, the yield on our deposit will also increase by the same percentage.

Of the larger banks

Where is it worth keeping our money in the coming years if you want to be safe and always get a good return? Those who are about to commit their money are most afraid of what will happen if interest rates soar.

We looked at which of the Long Term Investment Accounts that offer tax benefits are offering a decent return right now and which would keep up with rising interest rates. And the interest rate always changes with the current central bank base rate. If it increases by one percentage point, the yield on our deposit will also increase by the same percentage.