How long does it take to get a mortgage?

It has already been equal to 30 years since the commencement of the political transformation and, consequently, since the commencement of the transformation process in state administration bodies and financial institutions, there have also been the long-awaited changes in banking procedures and the transformation of the mentality of these institutions in the broadly understood client management policy.

In many – fortunately isolated – cases, bank customer service procedures are still not smoothly dealt with. Let’s immediately add that while “ongoing” servicing of individual customer accounts, neither for bank employees, nor for us, does not cause much trouble or takes time, more serious matters such as arranging credit are more complicated. So how long do you have to wait for a mortgage?

Mortgage decision – how much is waiting and what does it depend on?

Mortgage decision - how much is waiting and what does it depend on?

Let us explain, therefore, that how much time is waiting for the desired withdrawal to the personal account depends not on the bad will, sluggishness or lack of interpersonal skills of a bank employee, but on the multitude of activities in necessary banking procedures and on the time reserved for banking law performance of the activity or validation of documents. The procedure triggering the granting of a positive credit opinion and the disbursement of funds consists of the applicant completing several formalities. And it depends more on him how soon the mortgage decision will take place.

Getting a loan – necessary formalities

Getting a loan - necessary formalities

Among the necessary formalities needed to arrange a mortgage, the following should be indicated:

• Assessment of the applicant’s creditworthiness by the bank. It would be good here if we had some insight as to what regular revenues we have, what financial burdens we bear and what order of funds we expect “against the mortgage”, and what fees are consumed by our monthly home budget.

• Submission of a loan application. Assuming that we are regular, long-term customers of that bank, it is not necessary to document permanent income on the bank account, so we need to focus on providing a certificate of earnings from our employer. In the case of building a house, we must also provide a building permit (final) and an excerpt from the land and mortgage register confirming our right to the given lot and an excerpt from the land register, which can be obtained in the appropriate report from the commune office.

• Credit application verification. However, before the application is approved, the account manager will guide us what amounts and where should we enter, in order for the application to be accepted, let us be patient at this stage, because the bank now has time to check the accuracy of the data and to analyze whether a positive mortgage decision will be profitable for him. Let’s not be surprised, so when the bank finds out that ownership of the property is not legally clear, or arranging a loan and granting a positive decision, it would be on the verge of the bank’s profitability.

• Decision to grant a mortgage. Generally, after submitting all applications and submitting documents, banks have 21 days to decide whether to grant or not a mortgage, however, as we know, these three weeks are only a fraction of the whole process, let’s not settle, so that closing the case will be quick as opening a new savings and settlement account. The bank, because it may demand more precise documentation of some of our financial dependencies, often analysts also withdraw their application to an adviser, ask for supplementation or reject it, arguing with low profitability for the bank. How quickly the bank decides to grant a mortgage has a very large impact on how long one will wait for such a loan.

• Signing of the loan agreement and payment of funds. If the opinion of the credit analysis department is positive and the “papers” do not raise doubts, we are notified of a positive decision and the date on which the contract is to be signed. The final condition for mobilizing all or part of the funds is also the borrower’s delivery of a notarial deed transferring ownership of our property to the bank and submitting a payment order.

Online installment loans – compare offers now.

Installment non-bank loans are financial liabilities that allow for a higher loan amount, often equal to the limits applicable to cash loans at banks. Is it worth reaching for installment loans online?

Online installment loans – what should you know about them?

Online installment loans - what should you know about them?

Bank loans are usually repaid in principal and interest installments, while loans are repaid once – at the end of the loan period. However, nothing prevents you from getting an installment loan online, and actually it will be an installment loan online.

The loan companies’ offers include installment loans online. These are non-bank financial liabilities, which are usually granted in a higher amount than standard cash loans with one-off repayment. They have a longer loan period, lasting up to several years, although there are of course loans available online, which pay off in less time.

A quick installment loan online can resemble a standard bank loan. The difference is that it is made available by a company operating in the non-banking financial market segment, but it has similar features as:

  • relatively high value, reaching tens of thousands of USD;
  • longer loan period – up to several years;
  • repayment of liabilities in installments – monthly and sometimes also weekly.

Online loans for installments and installments over the internet are repaid in a similar manner, but the application process does not have many points in common. An application for a financial commitment can be made online and this way you can complete many formalities. The difference, however, lies in the fact that banks that offer online loans in installments will require borrowers to confirm the amount of income obtained and will check the customer’s D.

On the other hand, lenders offering installment loans via the internet outside the banking system have a simplified process of applying for their liabilities.

Do you choose installment loans online or with one-time repayment?

Do you choose installment loans online or with one-time repayment?

If we are considering a non-bank financial commitment, we can choose from two types of loans. It will be a standard loan with a one-time repayment at the end of the loan period or an installment loan online. The choice depends on the individual’s financial needs and the customer’s ability to repay the loan in the future.

If he is convinced that he will be able to repay the entire loan in a few weeks, a one-off loan may be a good solution. In contrast, online installment loans will allow him to contract a higher amount and spread the burden of repayment over several months.

In some loan companies, installment loans in the form of non-bank loans can be repaid for up to several years. Therefore, they do not burden the client’s home budget too much. Another issue is that the installment repayment of the loan increases the customer’s creditworthiness. So he is able to make a higher obligation – if of course it is necessary for him.

Who is an online loan installment good for?

Who is an online loan installment good for?

Installment loans over the internet are targeted at people with greater financial needs who cannot be satisfied by payday loans payable once at the end of the loan period. You can use them to borrow more money for a long time, with repayment divided into installments. Therefore, loans for monthly installments over the internet can be compared in this respect to cash loans.

In the event that the bank refuses to grant an online installment loan or the loan procedure would take too long for the client, he may try to get an installment loan online and thus incur the desired commitment. Money obtained on the client’s bank account can be used for any credit purposes.

Where can I get loans online?

Where can I get loans online?

An online installment quick loan resembles an online installment loan, but it can also be taken with minimum formalities. Many loan companies declare that they do not check BIK databases when applying for installment loans online. Anyway, these databases are available only to those lenders who will sign a relevant cooperation agreement with the Credit Information Bureau.

However, you need to be aware of the fact that an online installment loan will not be available immediately, such as a quick cash loan for a low amount and with a 30 or 60 day repayment period. A loan company with an online installment loan risks a lot by giving a high commitment to the customer. So he wants to be sure that the commitment will be repaid on installment payment dates.

The loan process in this case can be more complicated than with standard payday loans. 

It is worth considering whether in our situation it is better to take installment loans online, low-interest, with a simplified lending procedure, or to get a standard loan from a non-bank company or a bank loan.

What is a Credit Checker – How do I use it?

Lending companies more and more often meet the expectations of customers and implement new forms of encouraging them to use their services specifically one of them is the GFIC check just mentioned – the possibility of physically receiving cash in any post office without a bank transfer.

How does the GFIC check work?

money

For people who do not have a bank account or people looking for a loan without affecting their account, incurring a liability is a challenge, the GFIC check that comes with the help of paying a loan in cash without the need for a verification transfer and paying the debt to a bank account comes in handy.

The GFIC check is exactly a form with a code that allows us to collect cash in any Polish post office, for its implementation you will only need our ID card and documents confirming the conclusion of a transaction with the selected loan company (it can be a contract or a written consent for payment depending on the company.

We will always receive one or another document), but remember that a GFIC check cannot be processed by a stranger, we must appear in person at the post office.

How do you pick up a loan with a GFIC check?

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Applying for a loan online with a GFIC check is simple and it should not be difficult for us, most credit processes in non-bank companies are simplified to the maximum, step by step the receipt of a loan with a GFIC check looks as follows:

We choose the offer of the given loan institution offering withdrawals by check

We fill out the loan form with your details

In the loan application/form we select the option to pay using the “GFIC check”

After a positive credit decision on the part of the loan company, a courier is sent to us with the loan agreement to be signed

At the courier, we show him our ID and other documents for which we were asked at an earlier stage by the loan company to verify our data

After signing the loan agreement, the courier leaves us a copy of the agreement and a GFIC check, usually, it is activated up to 30 minutes after the courier left it to us

After receiving the check, we go to the nearest branch of Good Finance or Good Credit to collect cash, please note that we will have to pay a fee of USD 13 in advance.

That’s all, cash is in your hands?

The loan with the GFIC check is addressed mainly to people who do not have a bank account or want to avoid being withdrawn to this account for various reasons.

Fees related to the GFIC check

cash

The only fee we incur in connection with the payment by GFIC check is USD 13, regardless of the amount we choose and the duration of the loan, we make only one fee for collecting funds at the post office. The fee is small (USD 13) and charged in advance when making the check when we collect money at the post office.

A loan with GFIC check – where can I get it?

Loan for a GFIC check – summary

The GFIC check, just like any payment method, has its advantages and disadvantages, it is definitely a good solution for people who are looking for a loan paid in cash (even because of bailiff seizure on the account) or simply for people who do not have a savings and settlement account in a bank, and there are still a lot of such people.

The low amount of the USD 13 fee and the quite high flexibility of this solution encourages more and more people to use this method of withdrawing funds from the loan agreement.