Loan for a flat – who can get it?
Not everyone has the right savings to buy their own apartment. Here, however, banks come to help. Not everyone, however, will get a loan for an apartment. What conditions must be met then?
Many Poles dream about their own apartment. Often, only a small studio is enough to feel at home. However, if we do not have the appropriate amount on your account, ie several hundred thousand zlotys, we can think about a loan. Of course, not everyone can count on the help of the bank. To receive a housing loan , you have to meet a number of different conditions – below we present the most important of them.
This is the most important factor when applying for a loan for an apartment. Proper creditworthiness is an adequate income that allows you to cover the cost of loan installments, as well as the lack of high burdens, for example due to other loans, loans, and maintenance.
Creditworthiness is calculated on the basis of current income, but it is necessary to have them at the appropriate level for a long time – usually half a year. Therefore, before deciding on the application, it is worth preparing for it, for example, earlier pay off minor loans , cancel your credit card, debit on your account.
- Credit credibility
Another issue is proper creditworthiness, which depends on current loans and credits. It is recorded mainly , ie at the Credit Information Bureau, but also banks check information at the Economic Information Bureaus.
If we have some debts or we had them in the past, then we can meet with refusal to grant a housing loan.
- Own contribution
A personal contribution is also required to take out a home loan. Its amount is currently 20% of the loan amount, but the limit may be reduced, for example by purchasing special insurance.
It is worth to start saving for your own contribution earlier – at the current price of apartments it is tens of thousands PLN.
- Permanent employment – preferably on a contract of employment
Banks prefer clients with stable income, mainly due to an employment contract for an indefinite period.
Of course, you can also get a loan when working on a contract for a work or order or when you have a company, but not always calculating your creditworthiness will be as beneficial as in the case of a contract of employment. For civil law contracts, it is required to have a signed contract for a longer period, for example a minimum of 12 months. In the case of their own activity, banks often require that it be run for at least 12-24 months.
To find the best housing loan, you should go to a good credit advisor who will be able to help you find it. On the basis of all offers of banks, he will be able to advise the best loan on favorable terms and with a low installment. Formalities related to obtaining a mortgage can also be arranged with a counselor – without the need to go to a bank.