A Non-bank Loan for a Mortgage – is it Worth it?

A mortgage loan is a loan whose main security is a mortgage on real estate, so in simple words, its security is owned by a real property, e.g. a single-family house or flat.

An alternative in a situation where we can not get the loan we need in the bank are non-bank loans. Unfortunately, in the case of cash loans for a larger amount, we have to take into account the very large costs that such loans generate, and these are often twice as large as the loan amount itself. This is slightly different in the case of non-bank loans granted under a mortgage – here the cost of the loan may be slightly lower due to the security that the property will have.

At the very beginning I would like to say that in the case of mortgage loans we must be very careful what we sign, because otherwise we may lose the achievements of life. Just delaying repayment of a loan installment can generate huge costs that we may not be able to repay later.

Important – if we decide on an offer such as a non-bank loan for a mortgage:

Important - if we decide on an offer such as a non-bank loan for a mortgage:

  • choose the offer of a proven company, check the opinion about it on the Internet and whether its name is not on the list of public warnings of the Financial Supervisory Commission
  • carefully read the terms of the loan agreement and the repayment schedule
  • when deciding on a loan, let us be 100% sure that we will be able to repay monthly loans on time

Of course, to be able to get a mortgage loan, we must be the owner of a property. It may be a plot of land for housing, an apartment or a single-family house. Of course, our property will only constitute collateral for the loan and so we will still be able to use it as before. The amount of such loans usually depends on the specific offer of the company, the services we use.

One of the companies providing loans secured by a mortgage is the Crown Fund from Lublin. One of the conditions for obtaining a loan is the need to sign a notary contract directly in Lublin. The company makes it possible to obtain a mortgage loan from PLN 8,000 (the maximum amount depends on the valuation of the property) with a loan period of 3 to 60 months, with the possibility of extending the repayment period in a situation where we can not repay the entire debt on time. It is worth noting that the company does not require a positive credit history at BIK and grants loans also in situations when the person applying for a loan has a bailiff’s occupation. Thanks to this, it is possible to obtain a loan even in order to avoid bailiffs’ bids.

A non-bank loan for a mortgage – what will it need to get it?

A non-bank loan for a mortgage - what will it need to get it?

– the number of the land and mortgage register
– legal act that confirms the purchase of real estate (purchase contract or donation)
– extract from the land register
– a certificate from a co-operative or community about the lack of arrears in paying rent
– pictures of real estate with a description including basic data such as usable area, number of rooms or construction years.

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