Mortgage loans in Szczecin have been popular among Poles for many years. This is mainly because thanks to such banking products we are able to obtain the funds needed to build a house or buy an apartment. In the following article, we will explain exactly what a mortgage is and what conditions must be met to obtain this type of financing. We invite you to read it carefully.
Mortgage loan – the most important information
Currently, the prices of apartments and houses are at a very high level. For the vast majority of people, buying a new house or apartment with their own funds is completely impossible. That is why there is so much demand for housing loans in Szczecin. Banking institutions see a huge demand for mortgage loans, offering their clients a variety of offers.
However, we must remember that before we decide to bet, many different conditions are met. We are talking here specifically about the need to accumulate equity and provide many necessary documents confirming the amount of income earned. The decision on a mortgage is one of the most important decisions in our lives, so it should be approached wisely and prudently. Otherwise, we may not be able to pay in installments or the bank may refuse to grant us financing due to insufficient credit.
Mortgage penetration is growing rapidly
The vast majority of people simply cannot afford to buy a house with their own savings. Although we have accumulated many years of savings, they are often only enough to cover our own contributions, which are required to apply for a mortgage. Statistics clearly show that mortgage loans have been very popular for years.
According to AMRON-SARFiN, in 2019 it was nearly 250,000. Mortgage. In addition, the total amount of financial liabilities granted exceeds PLN 62 billion. Compared to 2018, an increase of 6%, the total value of all liabilities granted in 2019 increased by 16%. The growing popularity of mortgage loans is a constant trend.
On the other hand, the increase in total loans indicates an exponential increase in real estate prices under the influence of strong demand. House prices increased by more than 12% in 2019, the National Bank of Poland reported. Despite rising prices and undeniable difficulties in applying for a mortgage, this form of financing is still gaining in importance, as Poles are looking for forms of financing that will allow them to buy their own “four corners”.
Mortgage in Szczecin
When it comes to mortgage loans, Szczecin is a city where almost all the most popular Polish banking institutions operate. It should not be difficult to find a bank that can grant us a mortgage on attractive terms. In the capital of Western Pomerania, we can easily find a bank that can grant us a loan that meets our needs and expectations.
What are the requirements to get a mortgage?
To get a mortgage, of course, remember that the bank sets us many conditions that must be met. The agency conducts a full analysis of our creditworthiness before issuing a credit decision. This is a standard procedure for checking whether a given potential borrower is able to repay his financial obligations. When analyzing creditworthiness, banks focus mainly on:
- Credit history of the applicant – for this purpose, the verification of debtors’ databases, such as Biuro Informacji Kredytowej, National Debt Register, National Register of Debtors ERiF, etc.;
- Type of employment – People with an employment contract for an indefinite period are remunerated. Persons employed on the basis of contracts for specific work or authorized contracts may have difficulties in obtaining a positive credit decision;
- Monthly Income – the greater the chance of getting a loan.
What documents are required to apply for a mortgage?
People who want to apply for a mortgage must remember to collect all the necessary documents. this is about:
- title to the plot on which the house is built,
- current excerpt from the land and mortgage register for the plot (should be issued no later than 3 months before submitting the application),
- an excerpt from the land and mortgage register confirming that a given plot has the status of a construction plot,
- determining the conditions of development and land development,
- log building,
- investment estimates,