Banks has in its offer a mortgage loan offered in Polish currency. The maximum loan period here is 35 years, up to the age of 80, which is the oldest borrower. The maximum loan amount that can be taken out of this offer is 90% of the value of the real estate being credited.
There is no limit to the maximum amount of consolidation loan and mortgage.
The minimum income that a borrower must have to be able to apply for a loan at this bank is very low, because it is only PLN 800. For money, we can buy a construction and agricultural plot, as well as residential and service properties. The reference rate for the mortgage in PLN is 3M WIBOR, which means that it changes every three months and its new rates are set on the basis of market changes. A commission ranging from 0% to 5% is charged for granting a mortgage. Importantly, the commission can be credited.
Terms and costs of a mortgage.
The amount of commission for early repayment of the loan depends on the year in which we want to repay the liability. In the first one, early repayment will cost us 5%, in the second 4%, in the third 3%, in the fourth 2%, in the fifth 1%, and we will not pay anything from the sixth. The terms of early repayment of the mortgage can be negotiated with the bank. We will pay 1.5% for currency conversion into PLN and foreign currencies. The valuation of the property by the bank costs nothing if the customer does not receive a loan. If we renovate an apartment, its value increases. When insuring a low own contribution, we must take into account that the bank will increase the margin by 0.5%. Until the mortgage is entered in the land and mortgage register, we will have to pay bridging insurance, which will increase the margin by another 3.45%. Life insurance is not mandatory, but if the customer chooses it, the premium is a one-off premium and costs 3% of the loan for two years. The bank allows you to take advantage of a number of additional insurances that are not mandatory. Banks accepts various sources of income. These are employment contracts, work and specific contracts, rental income as well as income from business activities and income from abroad. The bank participates in the family on its own program, thanks to which you can refinance a loan under this program.
Customers can apply for a mortgage before marriage.
In the case of consolidation, a mortgage can account for up to 100% of the value of the property. For other purposes of taking out a mortgage, the loan amount is up to 70% of the property value. The bank sets the margin individually for a specific client and can range from 3% to even 15%. The biggest advantage of a mortgage is the maximum loan period, which can be up to fifty years. The borrower may be up to 80 years old. However, the biggest disadvantage of this offer is the very high commission and the bank’s margin. Credit insurance is also expensive. Banks does not provide the option of using credit holidays, nor is it possible to buy a promissory note. Instead, you can apply for a loan without a contract based on a statement. Customers also have the option of securing on the property a third party who is called the collateral provider. The income of insurance donors is not verified, but the bank will check such a person in the BIK and BIG database. Such a person must agree to be checked in these databases.