Loans – on what terms is it granted?

 

 

According to data from the Central Statistical Office, at the end of 2018, there were 10,000 emigrants. A thriving labor market giving the opportunity to negotiate employment conditions, lower unemployment rates and higher median wages are just a few reasons why persons are emigrating to the country.

For those who have recently earned in crowns, the place of debt is becoming unknown. Can you take a loan? Where is the best way to apply for a cash loan – in the country of residence or in the country of origin?

Can a person who lives and works get a mortgage there to buy an apartment or build a house? There is also a question mark that you can get a loan. Let’s find out whether credit for persons is a reality or just a pipe dream.

Loan – who can apply for it?

Loan - who can apply for it?

Every person applying for a loan for working must meet the following requirements:

  • be at least 18 years old (this age may vary depending on the bank),
  • have permanent registration,
  • have an indefinite employment contract (some banks respect the work contract / mandate contract),
  • have a positive credit history at the – Banking Credit Bureau – the equivalent of the (Credit Information Bureau),
  • have an account with a bank,
  • have an active telephone number.

Sometimes a loan for a person can be difficult to obtain due to the fact that some banks only serve clients with citizenship.

What are the loan costs?

What are the loan costs?

The requirements for loans are very similar to those in force on the market, at least when it comes to mortgage loans. The minimum own contribution in mortgage loans is 20 percent., some banks, however, go hand in hand and, like those in the country, lower it to 10 percent.

In addition, the ratio of the monthly installment to the income of the household taking a loan cannot be greater than 45% Moreover, the maximum amount of mortgage cannot exceed 9 times the borrower’s annual income.

As for the cost of the loan, as already mentioned, it consists of the cost of repaying the liability and additional charges. The basic costs of a loan are:

  • preparation fee,
  • commission for granting a loan,
  • interest,
  • insurance.

However, when you take a loan, you can count on various promotions. Some banks have attractive offers for new customers in their offers, while in others regular customers can count on more favorable credit terms.

How to apply for a loan?

How to apply for a loan?

A loan from a non-bank company is an alternative to a loan. To get a loan from a bank, you need to show a really good creditworthiness and credit history, while meeting a number of institutions depending on the institution, more or less excessive requirements.

All this means that some simply do not have a chance for a loan in the bank. Loans come to the rescue.

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