What is important when you want to take a mortgage?

Without a mortgage, many of us could not fulfill our dream of having our own four corners. Real estate is very expensive, so it is almost impossible to buy it for cash. That is why you need to support yourself with a mortgage. What is important when you want to choose it?

  • Mortgage – characteristics
  • Loan for a flat – own contribution
  • Home loan – interest rate
  • Equal or decreasing installment?

Mortgage – characteristics

Mortgage - characteristics

First of all, it is important to realize that a mortgage is an intentional commitment. Thanks to it, it is possible to buy a house or flat, possibly also renovation or modernization. The key is security. Until the repayment of the liability, the bank imposes a mortgage on the property. How to understand? Until you pay off your mortgage, you don’t own the place fully. In this way, the bank protects itself against customer repayment problems.

Loan for a flat – own contribution

Loan for a flat - own contribution

It is worth knowing that due to the fact that formerly banks provided support for 100% of the value of the property, and even more if the loan was also to be used for renovation. This meant that almost anyone could apply for financial support for the purchase of the property. Unfortunately, this has contributed to many repayment problems. The lack of participation in the loan was also of great importance in determining the conditions. They were not very profitable for borrowers.

That is why the Polish Financial Supervision Authority issued Recommendation S. According to it, to be able to take a mortgage, you must accumulate own contribution. It should be 20% of the property value. This means that if you take out a loan for a flat worth USD 250,000, you must raise USD 50,000 of your own contribution. In the case of a house worth USD 500,000, the self-made part is already USD 100,000.

Of course there is a way and it. The banks, realizing that collecting such an amount is relatively difficult, agree to make a lower contribution – amounting to 10% of the property value. However, this still requires additional security in the form of low contribution insurance.

If you want to buy an apartment and think about whether it is better to give a larger contribution or leave money for renovation / finishing, it’s worth knowing that banks do not have one offer for all customers. It depends on many factors. Having a high own contribution, you can successfully negotiate better conditions. For some, this means no commission, for others – a lower margin. So sometimes it is better to hold back a bit, wait and apply for a housing loan when you have a high own contribution.

Home loan – interest rate

Home loan - interest rate

Every loan, regardless of whether it is for the purchase of real estate, for a car or for any purpose, has an interest rate. What is this? This is the cost of the loan, expressed as a percentage. It is added in appropriate proportions to all loan installments. The loan interest rate consists of the margin, i.e. the bank’s profit and the reference rate – this is the interest rate of a given transaction determined by the market.

Its amount is influenced by all market mechanisms, and above all the activities of the Monetary Policy Council. In contrast, the margin, unlike the base rate, has no fixed and market-specific value. The bank decides about it. The higher the interest rate, the less favorable an offer may be. It is worth knowing that while the reference rate cannot be moved, the amount of the margin can be negotiated with the bank. However, most often when you have a high own contribution and good credit standing.

Equal or decreasing installment?

Equal or decreasing installment?

Mortgages are financial instruments that allow you to choose what type of installments you want to pay. There are two possibilities. You can choose equal or decreasing installments. The first liabilities throughout the repayment period are the same. This allows you to plan your budget, but also makes you have much better creditworthiness. The type of installments is included in its calculation.

Decreasing installments allow for a successive reduction of the monthly installment amount. This is because, from the very beginning, not only interest, but also capital repays itself. Thanks to this, interest is calculated from the decreasing amount. However, this option significantly reduces your credit standing. However, it is a great solution if you know that you will want to pay off your debt sooner.

Long-term loans: what are the options for installment loans?

In addition to popular and widely known payday loans, i.e. quick loans for small amounts of money, the offer of today’s loan institutions is also other, but interesting solutions. You can mention, among others, loan lines, which are the equivalent of revolving bank limits, and above all non-bank long-term loans repaid in installments.

The last segment of the offer of current loan institutions is particularly interesting because it is the attractive conditions of installment loans that primarily determine that many of the loan companies on the market are able to compete more and more with banks.

It is worth remembering, however, that customers also have different solutions to choose from in the area of ‚Äč‚Äčlong-term installment loans. Let’s take a closer look at this issue.

Long-term loans: standard offer

Long-term loans: standard offer

In their basic variant, the long-term loans available in the non-bank offer are the closest to bank loans when it comes to the mechanism of their operation. Also here we are dealing with loans for relatively high amounts (some lenders are able to offer us an installment loan of up to USD 40-50 thousand), as well as with a long repayment period, which in the case of some offers may be as high as 60 months .

The difference between installment loans and bank loans is, inter alia, that some non-bank lenders offer repayment in weekly rather than monthly installments. However, the differences are not over yet. The market also offers offers that allow you to pay out loans with a check, thus bypassing the banking system. Also, the process of verifying the creditworthiness of a potential client by loan institutions is, in principle, much less stringent than in the case of the banks’ offer.

Long-term loans for specific customer groups

Long-term loans for specific customer groups

A specific variant in which non-bank long-term loans are also available are loans targeted at precisely defined customer groups. On the market, therefore, we will find, for example, installment loans for motorists. Thanks to such a loan, the customer can, for example, renovate his vehicle or allocate funds to buy a new car.

Loans for financing medical treatments are another option. This option is becoming more and more popular and currently there are several dozen different clinics and surgeries which cooperate with loan companies in this respect.

Debt loans

Debt loans

Another specific and typical for the non-banking sector are the so-called debt loans, which should not be confused with consolidation loans. Debt loan is based on providing the client with financing, thanks to which he can pay off already existing debts. Obviously, both the process of applying for a debt loan as well as the mechanism of operation of this type of solutions will quite differ significantly from the offer of standard installment loans.

What is a verification transfer in an online loan?

A penny verification transfer is one way to confirm a customer’s identity, which is often used for online loans. What exactly is it and is it safe? We present basic information about the verification transfer.

What is a verification transfer?

What is a verification transfer?

A verification transfer, also called a penny transfer, is a way to confirm the identity of the person who applies for the loan or online loan. It allows you to exclude the possibility of a phishing loan, for example, for stolen evidence. It is to confirm that the borrower is the owner of the bank account to which the loan will be sent.

Do not be overly afraid because verification transfer is a completely standard procedure. Of course, provided that we use the services of a proven loan company. To this end, it is worth checking out popular online loans, where you will find a list of frequently chosen payday loans. And what exactly is a penny transfer?

In the event of such verification, when submitting the application, we will be asked to transfer a symbolic amount to the loan company’s account. This amount should not exceed USD 1, usually 0.01 USD, 10 USD or 1 USD. If the amount of the verification transfer will be a few or several dollars, we should check whether the account to which we transfer the money definitely belongs to the loan company we have chosen.

Verification transfer – advantages and disadvantages

Verification transfer - advantages and disadvantages

Customer verification increases security, so it is necessary when granting cash loans. However, a penny transfer is not the only way to verify the borrower, which will be discussed later in the article. Like any solution, it has its pros and cons. The undoubted advantages include increasing the protection against fraudsters by fraudsters. In addition, a penny loan is simple to apply and exempts us from an additional visit to a bank branch or loan company.

However, it also has a lot of disadvantages, which is why many people choose loans more often without transferring a penny. First of all, it requires customers to have a personal account as well as a minimum amount on this account. Making such a transfer takes longer than, for example, verification via the phone application.

In addition, we have to wait for the transfer to be booked, which is not very favorable, when we decide to pay for it and we want to receive money as soon as possible. Verification transfers are also often used by fraudsters, which is why a request for a transfer of more than USD 1 should be a signal to us that we may be dealing with a dishonest company.

Online loan – other ways to verify the customer

Online loan - other ways to verify the customer

The customer’s identity can also be confirmed by means of an identity card, stating his number and series in the application. It is also possible to verify by phone call or visit of a loan company representative. Customer verification by a mobile application is also increasingly used.

How do you get a loan if you are in debt?


Having a negative credit history and being in the National Debt Register may prevent you from taking out a loan or a bank loan. People who have no creditworthiness and have had or have problems paying back their obligations are simply not credible to many financial institutions. Does that mean you can’t get a loan? Can I apply for a loan if I am in debt?

Loan for those in debt – is it possible?

Loan for those in debt - is it possible?

Banks carefully examine applicants. They analyze their creditworthiness, check information in BIK and KRD. Those who have a negative credit history or low creditworthiness should not count on getting a bank loan. However, this does not mean that such people have no chance of getting cash. Private equity companies that provide loans to those in debt come with help.

Loans for those in debt, or what?

Loans for those in debt, or what?

Loans for those in debt are offered by some parabanks. Loan companies are not subject to the restrictive provisions of the Banking Law, which means that they apply different rules when granting loans. Cash loans for indebted people are intended for people who have negative credit history, pay off liabilities, have debts etc. Some parabanks of not carry out scrupulous verification, not check information in BIK or KRD. This means that to receive such a loan without bases, you only need to meet certain age requirements and have an ID card.

However, one should be aware that such loans without BIK and KRD are not high. Usually these are small amounts, up to a few thousand dollar. The repayment time is also characteristic of such payday loans. Usually it is about 1 month. Importantly, the commitment should be settled once, except the payday loan is incurred.

Where to look for payday loans for those in debt?

Where to look for payday loans for those in debt?

It is best to use payday comparators where you can select the option of searching for loans without BIK and KRD. Then a list of parabanks that have such products on offer will appear. It is worth comparing what APRCs have, how much can be “borrowed” and how long. Then read the terms of the contract and the regulations, this applies especially to the fees that you will have to incur when taking a loan.

How to get a loan for those in debt?

How to get a loan for those in debt?

The loan without checking in KRD and BIK is usually available online. Parabanks have their own websites where you can complete requests for payday loans. Provide your details and information from your ID card. Then the data provided is verified. It can be done by phone. Verification transfers are also popular. The customer must make a transfer for the amount of USD 1 or USD 1 from his personal account. Thanks to this, the congratulations will be able to confirm the applicant’s identity. After granting the loan, the customer will receive a contract, usually electronically, and the money will be transferred to a bank account.

What is a framework loan agreement?


What is a framework loan agreement? Why is it needed? What does it give? What should it contain? Advise!

Framework loan agreement – what is it?

Framework loan agreement - what is it?

The framework loan agreement is nothing more than a document that sets out all the principles under which the financial institution lends money. It is worth remembering that when submitting the application, it should often be noted that all the conditions contained in this framework loan agreement are accepted.

But not only. In total, it is worth to write such a contract even when money is borrowed from relatives. In accordance with the maxim that the precautionary officer is always insured, the contract should not be signed if it is not familiar with its content . Especially when it comes to loans.

What must be in the loan agreement?

What must be in the loan agreement?

Each contract must be drawn up in an appropriate manner. That is why lawyers usually deal with the construction of such documents. They are best able to write it so that it is not ambiguous, that is, it does not raise any doubts. And what should be included in the loan agreement? Those are:

  • parties to the contract – the lender and borrower must be clearly specified. For this purpose, the data contained in identity cards are necessary or in the case of a company, it is necessary to provide all information, such as name, address, NIP, KRS, REGON;
  • subject of the contract – here enter what the subject of the contract is, so in the case of cash you should write that it is cash – provide its exact amount. It will be later taken into account for calculating the cost of the loan;
  • duration of the contract – it must include the detailed duration of the contract, i.e. the day, month and year in which it was drawn up, as well as the time of its termination, i.e. the refund;
  • the cost of the loan , i.e. interest, commissions, any insurance, preparation or operational fee, etc., all must be added up and presented as the Total Cost of the Loan;
  • rules and deadline for repayment of the loan , i.e. whether its repayment will be by transfer or in person and at what time;
  • security for loan repayment – sometimes the liability requires security. It can be a promissory note, surety or pledge;
  • conditions for early repayment of the loan – sometimes it is possible to pay back the loan before the date specified in the contract;
  • loan extension rules – sometimes it is possible to extend the loan in the event of problems with repayment, it is worth knowing the terms of such a service;
  • the consequences of late payment – all information on penalty interest, paid reminders;
  • rules for withdrawal from the contract – according to the law you have 14 days to resign from the loan and for no reason, it would be good to write in the contract how you should inform about it;
  • complaint conditions – if the lender does not meet the loan conditions, it can be advertised. In addition, there must be information on how it can be reported and how it will be handled;
  • conditions for terminating the contract – this section must contain information about the options for terminating the contract, especially the consequences.
  • signatures of the borrower and the lender – are confirmation that both parties have read the contract and accept the provisions contained therein.

Framework loan agreement – why so important?

Framework loan agreement - why so important?

First of all, it should be remembered that the loan agreement is often the only confirmation of the amount borrowed , which costs have been agreed and the date of repayment. If any problems arise, this seemingly trivial document will protect the business – the only question is whether the lender or borrower? That is why it is necessary to ensure that the contract includes all the above-mentioned provisions, and also – that they are understandable.

The interest rate spread tells you what your chances are of being approved for a loan.


What are free loans?

What are free loans?

A free cash loan is a product most often granted by loan companies. A zero-rate loan is a way to get cash quickly without any additional costs. The customer who decides on such a loan, pays exactly as much as he borrowed (APRC in this case is 0%). Of course, provided that the loan is repaid on time.

And how much time do we have to pay back such a liability? It all depends on what offer we choose. The most popular is a loan for 60 days, as well as a free loan for 30 days. As you can see, the period in which we have to pay back a free loan is very short, which is why the first free loan is most often granted for a maximum of several thousand zlotys.

Free loan – for whom?

Free loan - for whom?

Free loans are directed to new customers who have not previously used this product in a given company. If we want to use the online loan for free several times, we should take it out at other loan companies every time. The main criterion for granting a free loan is age. Payday loans for 18 years are most commonly available, but there are also zero-rate loans granted to persons over 21 years old. Sometimes there is also an upper age limit, most often it is 75 years.

Zero loan – for what purpose?

Zero loan - for what purpose?

Loans and payday loans for free are not targeted products, which is why we can spend them on practically anything. However, free loans are granted for just a few thousand zlotys, which is why they are most often useful for covering the costs of repairs, holidays or other current expenses. Some people also opt for free loans to pay off another liability.

Free loan without certificates

Free loan without certificates

Free loans without certificates have recently become very popular, thanks to which you can receive cash without presenting an income certificate. Thanks to this solution, not only people who work on a contract of employment can count on a free loan, but also on a commission contract or a specific task contract.

Loans via the Internet without certificates are also available to pensioners, retired people and even the unemployed, or those who work in the dark and would not have a chance to get a loan. In addition, free payday pay is a good way to build a positive credit history for young people who previously did not incur any obligations.

Loan without certificates and client verification

Loan without certificates and client verification

Appropriate customer verification is very important, especially for free loans without certificates. It is to ensure security for both the company that provides the loan and the client. Appropriate verification protects against submitting the application by a person who is impersonating someone else (e.g. using a stolen ID card).

In many non-bank institutions, the applicant must provide the ID and PESEL serial number, and sometimes also provide an ID card scan. The next step is customer verification, which can take the form of a bank transfer. In this case, the applicant should make a transfer from his personal account for USD 0.1 or USD 1 (this amount is later paid together with the loan). Of course, there are also payday loans without BIK without transferring a penny, in which the way of verification can be a telephone conversation during which the consultant checks the correctness of the data provided by the client.

Free online loans without BIK

Free online loans without BIK

The Credit Information Bureau is a banking system whose main task is to collect information about borrowers. The BIK contains data on the borrowers’ current as well as repayment obligations. It is based on this data that most banks decide whether to grant us a loan.

And what does it look like with zero-rate loans? Are there free online loans for which a given company does not check information in BIK? It all depends on the loan company where we will take a payday loan. Therefore, before making the final decision, it is worth carefully analyzing the ranking of free loans and check the payday loans comparison site, where we will find additional information on a given offer.

Some companies verify their clients even in several databases, but there are also such loan companies that do not check any debt rankings and grant their clients free loans online without BIK. However, usually the maximum amount that we can borrow is lower than in other offers.

Is a free loan safe?

Is a free loan safe?

Free loans for new customers were created mainly to reach people who until now considered payday loans as high-risk products. Free online loans are safe provided they are paid back on time. That is why it depends mainly on us whether a free cash loan will charge us additional costs or whether it will be only financial help during a difficult month. Irresponsible borrowers who fail to pay their first free loan on time must be aware of the costs they will have to bear for the delay.

For security, it’s also worth carefully reading the contract we enter into with the company. It is best to use only proven loan companies or those that have a good reputation on the internet. For this purpose, you can check the offers in the ranking of popular loans. It is also worth asking for the opinions of friends who have previously decided on a free payday loan at a given loan company.

Free loans – why is it worth it?

Free loans - why is it worth it?

It’s worth choosing a free loan for several reasons, primarily because it costs us nothing if we repay it on time. In addition, free online loans are available in many companies and reduce all formalities to a minimum. They will therefore prove to be a good solution for people who need a quick injection of cash.

A free loan without certificates is also a great option for people who live on a source other than work, and it is much easier to get payday loans than a bank loan. Additionally, in some loan companies, people who have taken advantage of a free loan can count on various promotions and discounts.

How do you know if someone took a loan from me?

The increasing availability of loans and borrowings as well as the ease with which they are incurred, causes many frauds and scams in this regard. How does it happend? And can you check if someone took my loan?

How do you take a loan for someone?

How do you take a loan for someone?

We will start unconventionally, i.e. how you can take out a loan for another person, because, contrary to appearances, it is not so difficult.

In many cases, it is now enough to send a copy of your ID card online to get additional funds. And it is not difficult at all. You can use stolen evidence for this or make a full “legal” copy. How? Only a few years ago, many service companies required the client to make a copy of an ID document, e.g. when ski equipment or a yacht were rented. It’s a simple way to get all the necessary data.

Today, of course, no other companies operating in accordance with the law do so, although fraud may still occur, especially if the client is not aware of the risks. Therefore, if it is necessary to write down data from evidence, you must always make sure that the employee does not go away to a place where it is impossible to check what he is doing.

Fraudsters have to show a little more finesse when the parabank requires a verification transfer from their bank account. But this is also possible when third parties are included in the dealings, e.g. a courier providing a contract to create an account online.

Why are we writing about this? To make everyone realize that someone may encounter a situation where someone takes a loan for their personal data. And how to protect yourself from this? The Credit Information Bureau will help.

What is BIK?

What is BIK?

BIK, or Credit Information Bureau, is an institution that collects information about loans taken from banks and credit unions. For some time now, it also has information about loans. It is in this database that banks check borrowers to assess their creditworthiness. However, this is not only its purpose.

Everyone can request a BIK report on it. What will it do?

How can I check if someone has taken my loan as proof?

How can I check if someone has taken my loan as proof?

The best way to check if someone has taken credit on my ID is to generate a BIK report. To do this, you must first create an account in this database. To do this, you must complete the form, provide your ID number and PESEL number, and then confirm your identity.

Once the account has been verified, you can log in and generate a report. Unfortunately, it is paid. A single report costs USD 39, while a package of 12 reports costs USD 99. This allows you to check all the commitments made so far.

There is also another, often more profitable option – BIK alerts. These are notifications that come to the indicated phone number each time an attempt is made to obtain a loan for the indicated personal data. The cost is USD 24 per year. However, if you order the aforementioned package of 12 reports, then BIK alerts are included in their price as an additional service.

And what to do when there is extortion? You must immediately report this matter to the police and report to the prosecutor’s office of suspected crime. If this is abandoned, it can be difficult to prove that it was not the borrower indicated on the contract that sent the application and received funds that it does not repay.