Mortgage loans offers banks. Being the owner of a house, flat or plot, you own a mortgage. Under its pledge you can borrow money to renovate an apartment, house or purchase a car, practically it can be used for any purpose.
What is a mortgage loan? A mortgage loan is a cash loan secured against real estate for any purpose. It can be used both for the purchase of a flat or for the construction of a house, as well as for the purchase of a car or a general renovation of a flat.
A mortgage is a very good collateral for the bank, which is why it is more likely to borrow a much larger amount of money and a much lower interest rate than it is in the case of a cash loan.
The mortgage loan offer can be found in virtually any bank. Just contact your chosen institution to find out details about the mortgage loan. The bank consultant will arrange a meeting for you and you will learn more detailed information about the offer and explain what documents and formalities are needed for the mortgage loan.
Mortgage loans with a financial intermediary
In the case of a mortgage loan, we can contact a financial expert who will help us choose the right bank.
A mortgage loan and a mortgage
Mortgage is a product in which the property is secured (mortgage) and whose purpose is related to the real estate, that is, its purchase, construction or renovation. However, if you want to buy a new car, renovate an apartment or simply need money for any purpose, then you can use a mortgage. We need to own a property that is not covered by any mortgage.
Below is a list of banks and financial intermediaries with which we will contact you regarding the mortgage loan:
How much mortgage can you get?
At the beginning it is worth explaining what the LTV indicator is so often used in mortgage loan and mortgage offers.
It is the ratio of the value of the loan to the value of the property. Banks apply the principle that a mortgage loan is granted for a maximum of 50-80% of the value of the property. If the client wants a high value mortgage loan, close to 100,000 PLN and more, it is definitely a better solution than a cash loan, because you can get a better interest rate.
With a lower loan amount, you should consider a cash loan. With the mortgage loan, there are also additional costs, such as property valuation.
The pros and cons of a mortgage
The main advantage of a mortgage is its price. Compared to an ordinary cash loan, we have a much lower interest rate here. It happens that the interest rate on a mortgage loan is even two times lower than a cash loan. You should think about a mortgage loan when you need money in the amount of about 30 thousand. PLN and more.
With mortgage loans, unlike a mortgage loan, the loan period is a little shorter. But still much longer than in the case of cash loans and usually is around 20-25 years.
To meet clients, some banks arrange formalities related to the mortgage entry for the borrower.
To get a mortgage, first you need to have such a property, and secondly it must be free of mortgage. It must also be checked what is included in the easement, because not all easements and properties are accepted by the banks. In case if it was, for example, a historic tenement entered in the register of monuments or another property that would be difficult to sell, then a mortgage loan could already be a problem.
The mortgage burden in the case of the sale of real estate matters to the potential buyer.
Banks do not immediately seek to take over the property in case of problems with repayment of the mortgage loan. Their goal is to settle that after settling mutually convenient terms, the debt is further regulated.
A mortgage loan is a similar product to a mortgage, both liabilities are secured by a mortgage on real estate. In both cases, instead of self-seeking a product, we can get help from a good financial intermediary . Especially when it is difficult for us to get an idea of the banking offer and analyze it accordingly.