Mortgage – what’s that?
One of the most recognizable but also demanding banking products is a mortgage. It is a commitment that is most often sought by people planning to build a house or buy an apartment. It is characterized by a long loan period and, as the name suggests, the main collateral is a mortgage. This is a limited right in property, thanks to which the creditor can claim unpaid claims arising, for example, from a loan agreement. It consists in an appropriate entry in the land and mortgage register enabling it to be taken over by the creditor in the event of repayment problems. Cancellation of all subscriptions occurs when the commitment is repaid.
Real estate loan – who can apply for it?
The biggest advantage of a mortgage loan is the fact that practically everyone can apply for it, and therefore not only people with income generated on the basis of an employment contract or other civil law contract (work contract, mandate contract), but also indebted, unemployed, downloading persons retirement or disability pension. For these people, the option of applying for a cash or mortgage bank loan is practically non-existent. A loan against real estate, which can be a flat, house, building plot or arable land, is also a great solution for customers who need much more funds than the amounts involved in payday loans. A loan with real estate collateral can be a chance for many people to get straight and get rid of the ballast, which is often a troublesome debt.
Loan without certificates
Are you interested in a loan, but you are blocked by a lack of documented, stable income? Do you work in black, can’t afford a bigger loan in the bank? You are probably wondering if a loan without certificates is possible for every potential borrower? Of course, such offers can be found in some non-bank companies that expect the client to show only a valid ID card and documents confirming that the property is our property.
If we are interested in such a solution, it is worth knowing that non-bank companies in this situation do not send questions to bank regarding access to data of potential borrowers. A loan against a flat without income is a good way to get cash if you don’t have a regular source of income. We should remember to calculate beforehand whether we can afford to pay back the loan, because we can also lose a lot. A loan without certificates can be obtained quickly and without leaving home. Only the signing of the contract must be signed in the presence of a notary, in order to exercise extreme caution for both parties. It is necessary for the notary to fully accept the agreement between the loan company and the borrower.
Mortgage loan calculator
Before making a decision to take out a mortgage loan, review the offers available. Such a serious commitment requires time to think carefully and thoroughly analyze the available products. Many borrowers pay attention primarily to the amount of installments they will have to pay to the bank’s account once a month. Before you start browsing offers, it’s worth comparing your earnings and expenses. In this way, we will receive the amount that we are able to spend on paying the liability.
Returning to mortgage installments, calculating them yourself is a real feat. That is why specialists from the financial sector have created a special tool for their clients to automatically calculate installments. To use the calculator, simply enter the basic data, such as the amount, loan period and interest rate in the appropriate fields. The tool is available on industry portals and websites of institutions that have a given product on offer.
Mortgage loan without income
A real estate loan is definitely a good solution for people who for some reason could not get a mortgage or a bank loan. Loans against housing without income is possible for most people because it is granted on the basis of the identity card itself and the value of the property that we have. There are many reasons, if the bank refused to grant us a mortgage, it means that we appear in the Intrasavings bank or KRD debtors’ databases, or we simply do not have creditworthiness. We must be prepared to show all necessary documents related to owning our apartment or house. All information will also be provided by the company’s representative, who we can talk to before signing the contract with the company. It is also worth asking about all the details and finding out the consequences that await us when we do not pay the installment loan on time.
What about borrower verification in debtors’ databases?
Representatives of loan companies offering loans under mortgage do not send inquiries to the Credit Information Bureau, nor do they verify the registers of Economic Information Bureaus. Even people whose data has been entered in the National Debt Register can successfully apply for such a loan. So when you apply for this type of help, even your negative credit history won’t matter.
What can I use my mortgage for?
You can use a mortgage loan to:
- build a house, renovate a house or a flat;
- buy a property or a plot;
- pay off your debt to the bailiff;
- consolidate current loans and credits;
- buy a car;
- pay for a holiday trip;
- buy the necessary home appliances or electronics.
In fact, a loan against real estate will give you funds that you can use for any purpose without having to clearly declare what it will be.
How high a loan can I get?
The amount of the mortgage loan depends primarily on your creditworthiness and the value of the collateral you provide (it is crucial if the loan company does not check your Intrasavings bank history). It happens that lenders provide support even in the amount exceeding half the value of collateral. Remember, however, that a mortgage also means a very long repayment period – it usually covers between 20 and 30 years. The average interest rate ranges from 7 to 9%. These conditions are very similar to those to which mortgage loans are subject.
Can I get a loan against real estate online?
Yes, you can fill out the appropriate forms online. Depending on the loan company, however, you will wait much longer for your decision than for the positive consideration of the payday application, from several to 24 hours. It will take another 24 hours or so until the funds, of course after verification that is favorable for you, are in your account. Sometimes it happens that the waiting period for money extends to 4-5 days.
Mortgage loan and mortgage loan
The main difference reported by experts are restrictions related to the use of funds received. A mortgage for any purpose, as the name implies, can be used to finance any expense. In turn, when applying for a mortgage, we are required to provide a specific venture for which we want to spend the money. Mortgage loans have many variants, one of them is a loan against the plot. As we can read in the lenders’ offers, it was addressed primarily to farmers. A loan against an agricultural plot requires a number of documents. However, it provides us with difficult access to the money we need, even with negative Intrasavings bank entries.
The contract is signed in the presence of a notary public, because it takes the form of a notarial deed. Very often, as part of the lender’s services, we can consult a financial advisor, which will allow us to adjust the loan parameters primarily to our capabilities. It is worth noting that any natural person can take advantage of the loan against the construction or recreational plot. You do not need to be a farmer. Cash withdrawals can be made to the borrower’s own hands
Loan without a mortgage
A loan against an apartment without income is only possible in selected companies. Usually, we apply for a mortgage loan without income, our main collateral will be e.g. a house, flat, plot, arable land or real estate related to business activity. Companies that make loans secured by apartments have a special offer of various loans, e.g .:
a) A non-bank loan against real estate for repayment of bailiffs – an offer for indebted persons in relation to whom bailiff proceedings are pending. Such a person may try to pay back the debt with a new loan. However, you must be very careful not to fall into a spiral of debt and lose your assets. You should check the debt repayment plan very carefully.
b) Bridging loan – this is a product targeted at people who are expecting a lot of cash in the near future. It is a private loan against real estate.
c) Investment loan – a loan for entrepreneurs for investment purposes.
d) Real estate consolidation loan – we can take out a loan against real estate, which we will pay back with all our other loans.
These are loans in which a company providing a financial commitment does not check our credit history, it even realizes that this history is negative, and yet if we have a mortgage that we can use as a pledge, we have a chance to receive a loan. This is one of the few ways to help people in debt. Most loan companies on the market, especially traditional banks, will refuse the application of the indebted person who wants to receive another benefit. Certainly, a mortgage loan is an idea to get out of debt or cover the most important costs. However, you need to think carefully about the decision to take out a loan against the mortgage, because if you later lose your leg in paying off your financial liability, the loss of your life’s property is very likely.
What conditions are loans under a mortgage without certificates?
If you were wondering what conditions of loans without a certificate you need to meet here is the answer. You do not need to submit any documents regarding your employment and your income to get a mortgage loan without certificates. However, you will need documents related to the property. So, prepare in advance:
- land and mortgage register number (for a house, flat, arable land or building plot) – if the property does not have a land and mortgage register, a certificate from the cooperative on the ownership right to the apartment;
- notarial deed confirming the purchase of a house, flat or land;
- certificate from the cooperative regarding non-payment of rent (or amount of arrears) – if the property is a flat;
- photo of the property;
- certificate from the Tax Office on exemption from inheritance and donation tax or on its payment. If the property was acquired by inheritance or as a donation;
- excerpt and excerpt from the land register – if the real estate is a house, a construction plot or arable land;
- document on the spatial development plan – if the property is arable land or a construction plot;
Will the lender be able to dispose of my property?
This issue is definitely eye-catching for many potential mortgage loan customers. Don’t worry – the loan company that gave you the mortgage may not dispose of your property. This will only be possible if your commitment is not repaid and the lender initiates the procedures for taking over the house, flat, arable land or building plot.