When is it worth using a mortgage?

A mortgage or housing loan is a great solution for people who are looking for their own housing but cannot finance it with their savings. On the other hand, a mortgage loan will be convenient for those who are in a reverse situation – they already have property but need cash.

High amounts available to (almost) everyone

Regardless of whether you decide on a mortgage loan in a bank or non-bank institution, this is a solution for those who need really high sums of money. In such situations, the room for maneuver is usually limited. Why? Let’s start with the easiest and fastest way to get cash: a non-bank loan, usually an online one.

Such loans are of course very convenient, fast and devoid of formalities, which means that even people with good creditworthiness reach for them. What’s more, the offer that non-bank companies can offer is really wide, which means that with a little help from a loan comparison tool you can easily choose the most advantageous and best suited loan. However, there is a snag – the amount of the loan. It is true that the maximum quota ceiling is much higher than a few years ago, but they are still rather average amounts.

If we need a really large amount of money, then we are unlikely to decide on payday loans – even if you can get up to 7,500 , 8,000 or 10,000 USD . Thanks to installment loans you can get more – up to 20 thousand dollar at GFI. Some also use a car loan (up to USD 100,000). However, even they may be insufficient and you have to take into account the fact that you must first have a vehicle of adequate value.

Meanwhile, mortgage loans are really large amounts, usually reaching several hundred thousand dollar. A non-bank mortgage loan at Good Finance gives the possibility of obtaining up to USD 5 million if the pledged property is worth this amount, although it must be remembered that the loan amount will not be greater than 60% of the property.

Another important issue is the ease of obtaining this amount of money compared to a regular bank cash loan. It is true that you can get up to several hundred thousand dollar using this form of financing, but you will need a really high creditworthiness, high earnings, high financial credibility (and a very rich repayment history), and in addition also another source of security – usually a guarantee.

A truly long-term mortgage

Mortgage loans are especially recommended for those who are unable to pay back a high amount in a short period of time – a cash loan usually closes within a period not exceeding 10 years. Such a short time in relation to the amount of the commitment is too burdensome installments, for which the repayment can easily get a leg.

The longer repayment period, on the other hand, gives you greater certainty that the loan will be repaid without any disruption and risk of final property attachment. This does not mean, however, that you do not need to be careful. A mortgage with a long repayment period will work only if the borrower has a permanent, very stable employment and does not have to worry about sudden cut-off from the funds.

Money needed for any purpose


Mortgages, especially non-bank loans, are often not targeted financing. This means that they can be taken for any purpose from which the customer does not have to translate or settle (unlike a cash loan). However, in some cases, banks may prohibit the use of loan money for speculative purposes, including for investment in stocks. However, those who want to invest may take advantage of a non-bank loan, which is unlikely to apply such provisions in the loan agreement.

You don’t always have to own property

In crisis situations, even those who do not own real estate can take advantage of the mortgage loan. Some institutions may agree to grant financing against a third party mortgage – and it may not even be related or allied. The basic condition is only that the property owner agrees to establish a mortgage.

Risk-free mortgage loans

As a summary, we will mention once again that mortgage loans will be perfect in situations where the borrower needs a large amount of money, prefers to pay back the loan for a long period and wants to spend money for any purpose (or purposes). Non-bank loans will not yet exclude people who do not have a good credit history and are even indebted. So they are perfect for those who want to quickly pay off high debt, but do not want to sell probably the most valuable things they have – a house or apartment. Thanks to the mortgage, they can continue to live and use it as their property.

Mortgage pledges, however, carry some risk. First of all, it risks losing property and considerable costs resulting mainly from large amounts and long repayment periods. Therefore, it is not always enough for the creditor to sell the property to cover the sum of the liability and interest. This should be borne in mind and remember that liability for the commitment increases in proportion to its amount.

Bank of Canada Announces Interest Rate

The Bank of Canada has once again decided to leave the key rate unchanged. The central bank keeps this rate, also called the target for the overnight rate, to 1% since September 2010.

Mark Carney said he would like to raise the interest rate soon

Mark Carney said he would like to raise the interest rate soon

In an effort to deter Canadians from getting into more debt. Ultra-low mortgage interest rates artificially inflate long-term affordability and encourage consumers to borrow money. Unfortunately, the debt of Canadian households has reached a record level of 163% of the debt-income ratio . The Bank of Canada has described this situation as a threat to the national economy.

“In Canada, while global turbulence continues to constrain economic activity, internal factors support moderate expansion. Following the recent period of below-potential growth, the economy is expected to recover and return to full capacity by the end of 2013, “the Bank of Canada said in a statement.

The central bank estimates household indebtedness will continue to grow

money cash

“The housing market is expected to fall from its historically high level, while the household debt burden is expected to increase further before stabilizing at the end of the period. projection. ” The appraisal report also contains information about the basis on which a given person prepares the valuation and the basis on which it performs it, which sources it uses to describe the property. This is particularly important because the survey contains a detailed description of the property, its physical and legal status, and how it is used.

Lenders use the key interest rate to set their preferential interest rates. For example, if the key interest rate increased by 0.25%, lenders would increase their prime rate. Fortunately for variable rate mortgage holders, the key interest rate remained at 1.00%, leaving their mortgage rates safe and sound. At the moment, the best 5-year variable rate available on Roy Hobbs at a discount of – 0.45% or 2.55% on the key rate.

Loans to Bad Payers

Loans to bad payers are loans granted to those who have been registered in the credit bureau register as a bad payer, hence the name of this particular financing solution. We will deal in depth with everything related to this form of loan, from those who can request it as long as there are alternatives.

Who are the bad payers?

The definition of bad payers refers to those who have been reported as such and have been entered in the special bad pay register, kept by credit bureau. In short, astro is the computer system where there are the names of all those who have applied for funding (both bad payers and non-payers) and where the credit history of a person can be seen (consequently being registered with bureau is not synonymous with being a bad payer), while credit bureau is a company with various offices around the world, which holds the aforementioned astro register.

To become a bad payer it is theoretically sufficient not to pay even one installment of a loan or loan on time. No matter the reason, the sufficient condition is the non-payment of the installment. In practice it often happens that if you skip the payment of an installment, the finance company tries to collect it in the following month. If it succeeds, there are usually no consequences, otherwise you could be reported as a bad payer. For more information, contact your bank.

Loans for bad payers

Loans for bad payers

What are the loans granted to bad payers? We can basically see three types of financing:

  • employee loans
  • proxy loans
  • changed loans
  • pawnbrokers

These loans are granted to bad payers because they have excellent guarantees for the financial company. The assignment of the fifth and the proxy loans present the guarantee of the salary (better if you have an open-ended employment contract), while the promised loan (also known as a loan with promissory notes) has the guarantee of signing promissory notes, which are securities executive and, as such, are easily “convertible” into cash in the event of non-repayment of the installments.

In our list, the first solution can be requested by employees or pensioners, the second by employees and the last also by self-employed workers.

Employee loans

The classic loan to bad payers is the assignment of the fifth, be it salary or pension. The guarantee, as mentioned, is the presence of a salary and TFR (Employee severance indemnity ). The fact that the installment is paid directly by the employer (on behalf of his employee) into the coffers of the financial company leads to greater tranquility on the part of the latter.

This type of loan is characterized, in fact, by the installment which is repaid with a deduction paid by the employer or pension institution to the financial company or bank.

Does the employer have to accept the assignment of the fifth?

The answer is “no”, in the sense that an employer has no power to decide whether a transfer of the fifth can be granted or not. The final choice is entirely up to the bank or finance company. However, he has a legal obligation to pay the installments in place of his employee. As we will see below, an employer has the option of accepting or not a proxy loan, or double fifth.

What is the maximum amount of the installment for the assignment of the fifth?

The monthly installment that can be repaid goes up to 1/5 of the net salary or pension.

Assignment of the fifth of the salary

For employees , both in the private and public sector, the transfer of one fifth of the salary is the ideal solution as loans to bad payers. Both those who have a fixed-term employment contract and those who have a permanent contract can apply.

Transfer of the fifth of the pension

Retirees can instead apply for the assignment of one fifth of the pension. This solution is practically similar to that of the salary assignment, with the difference that the monthly installment is retained on the amount of the net pension and not the salary. In addition, the minimum pension must also be taken into account in the calculation.

Who can request them?

  • public, ministerial and private sector employees
  • employees with fixed-term contracts
  • retired with retirement pension

If you belong to one of these categories, ask for a quote for the transfer of the fifth of the salary.

Delegate loans, or double fifth

Delegation loans , also known as double fifths, are another of the bad payer loan solutions. As you can guess by reading the name, these loans allow you to pay a maximum monthly installment double that of the assignment of the fifth (therefore up to 2/5, that’s why they are also called double fifth loans). They can usually be requested by permanent employees, due to the greater stability of the workplace. These loans must, by law, also be accepted by the employer. On the contrary, the employer cannot accept or not a simple assignment of the fifth, for which the final decision is always of the bank.

Who can request them?

  • public, ministerial and private sector employees

If you belong to one of these categories, ask for a proxy loan or double fifth.

Loans changed

Loans with promissory notes , also known as promissory notes, are another classic form of loan for bad payers. The basic prerequisite, in this case, is the signing of bills of exchange, or of the executive securities with which the financial company can easily repossess any sums not reimbursed by the customer.

The advantage of this form of financing is linked almost exclusively to the fact that even bad payers without particular guarantees or self-employed bad payers can have access to credit. Keep in mind that this should be the last resort for bad payers, as interest rates are usually higher.

Here are some of the companies that provide changed loans in Italy:

  • Loans with bills Mas
  • Loans with Teoremafin bills
  • Loans with Prestimarket bills

Who can request them?

  • employees
  • retirees
  • self-employed

Pawn loans

Pledged loans are the latest form of financing for bad payers. They are characterized by the fact that it is necessary to provide an object in pledge in order to have the corresponding cash value in exchange. The advantage of this form of loan is that virtually no other collateral is required, given that a valuable asset is provided as a counterparty. Among others, gold, silver and diamonds are usually accepted.

Who can request them?

  • employees
  • retirees
  • self-employed

Loans online

Loans online

Online loans are one of the ways in which you can apply for loans for bad payers. In practice, these are financing solutions that can be requested directly via the internet, 24 hours a day and comfortably at home. The benefits also include lower interest rates compared to personal loans requested “off line”, since online companies have less costs to cope with and that the paperwork required for online financing is usually lower and everything is leaner and faster. It is no coincidence that online loans are also called fast loans.

Loan and Credit and the Stock Exchange – differences in trading stocks and currencies

If you want money to earn for you, investing is a sensible idea. Normal savings accounts earn less than one percent interest, while investments generate an average of eight to 10 percent. Two of the most popular investment paths are shares and Loan and Credit.

Most people understand investing in shares


Basically you buy a small stake in the company. As the company is doing well, the stock price is rising. When a company performs particularly well, some shares pay dividends. Shares are a popular part of most investment projects such as funds or individual retirement accounts. There are many online transaction services that will facilitate your trading. You can also use investment funds that handle transactions for you.

Loan and Credit means currency exchange. As the name implies (foreign exchange), it deals with the international market. However, trading on the currency market only focuses on one thing: currencies. If you’ve ever gone abroad and exchanged PLN to your local currency, you’ve made a transaction on the Loan and Credit market.

The difference is simply in scale. The Loan and Credit market generally revolves around eight major currency pairs including the Euro, US Dollar, Yen, British Pound, Australian Dollar, Swiss Franc, Canadian Dollar, Australian New Zealand Dollar and South African Rand.

Advantages and disadvantages of trading on the currency market

Advantages and disadvantages of trading on the currency market

Foreign exchange can last almost 24 hours a day from Monday to Friday. The Loan and Credit market is not related to the geographical area, so even when one stock market closes another opens. This gives you the opportunity to trade around the clock throughout the week. However, not all trading hours are optimal. Just because the market is open does not mean it is active. To earn money you must trade in an active market. The best trading periods occur when the markets that relate to the currency you trade overlap.

This is a volatile market. If you are interested in a fast, exciting pace of trading, trading on the Loan and Credit market provides you with it. The Loan and Credit market has more transactions every day than the New York Stock Exchange (NYSE). This means great opportunities for people who prefer short-term investments with high turnover.

Loan for any purpose

We can get a loan for any purpose even on the day of submitting the application. The feature that characterizes this type of financial product and at the same time distinguishes it from a traditional bank loan is the fact that the borrower does not have to specify the purpose for which the money is to be allocated. The loan granting procedure is also usually less formalized than the bank granting procedure. Non-bank loan for any purpose – what is worth knowing about it?

A quick loan

A quick loan

A quick loan for any purpose is a financial product that must definitely be approached with a high degree of caution. When borrowing a certain amount of money, you usually have to pay back the borrowed amount plus interest due, usually for a short period of time, depending on the loan company ‘s offer. From a rational point of view, hardly anyone can afford such a loan. One of the possibilities offered by loan institutions is the possibility of spreading payments into installments.

Installment loan and informed borrowing rules

The solution decided by a significant number of borrowers is installment loan. Spreading the commitment over a longer period of time means that the home budget is not severely tarnished with the weekly or monthly repayment of the next installment.

Informed lending is based on certain rules. First, do not borrow more than we need. Secondly, the amount of the loan and repayment should be matched to our financial capabilities. What does it mean? The installment of the loan should not significantly burden your home finances. We cannot allow the situation that after paying the loan installment, we will no longer have enough funds for other obligations, e.g. rent or electricity. It is worth remembering when making a decision to take out a loan.

Despite the fact that non-bank loans do not have the best press, and some people even have negative associations with such loans, it is not bad to borrow money from non-bank companies. As economic advisor argues: We have two options: we collect money and spend what we have or borrow, buy and return to whoever lent us money. The most important question is: Am I able to repay a certain amount regularly? If it turns out that taking into account all the costs, I can – there is no reason to worry. We have to calculate, not count, that somehow it will be. Economic education is the key to solve many current problems.

Importantly, the borrower does not have to specify the purpose for which he takes out the loan. Such a financial product is freedom of choice. We borrow money and spend what we want, e.g. on new home appliances or electronics, spontaneous holidays or weekends, payment of bills and rent, buying fuel or holidays for children. A non-bank company is not interested in what we spend the money on. She only wants them to be returned within the period specified in the contract.

Who is a non-bank loan for any purpose?

Who is a non-bank loan for any purpose?

Who can get a non-bank loan for any purpose? Such commitment may be sought by persons who:

  • are at least 18 years old
  • are natural persons, capable of legal actions
  • are Polish citizens, live in Poland and have an ID card
  • they can be full-time employees, work contracts, work contracts, retirees, pensioners, students, farmers – anyone who receives a positive assessment of their creditworthiness
  • it’s a loan for people who don’t want to explain why they need money
  • in an emergency – unexpected expense, illness of a family member, job loss, car repair, holiday trip, organization of holidays, etc.

Advantages of a loan for any purpose

What are the benefits of being able to take out a loan for any purpose:

  • no need to explain why we need money
  • the money can reach our account the same day the application is submitted
  • limiting formalities to a minimum
  • a choice: a quick loan for a short time or an installment
  • flexible loan period: from several to several dozen weeks
  • transaction security – a transparent agreement that contains all the necessary information, including APRC, terms of repayment, consequences of not repaying on time

Loan without a bank account

Every fifth Pole does not have their own bank account. Therefore, cannot such people count on the possibility of borrowing money for any purpose? Of course not. More and more non-bank companies, in order not to close themselves to such a large group of customers, are introducing non-bank loans that do not require having a bank account. Let us remind you that the basic condition that must be met by applicants for a traditional non-bank loan is having their own bank account.

It is worth reading this article before taking a loan: BIK – what is it, how to check your credit history in BIK?

So how can clients lend if they don’t have their own bank account? A home service loan may be a good solution here. Deciding on such a way to take out a non-bank loan, the sales representative of the loan company will bring us money home.

A loan for any purpose at home

A loan for any purpose at home

If for some reason we do not want to take advantage of a standard non-bank loan granted to a bank account or simply do not have a bank account, we can consider a loan with a home service. It’s a way to get quick cash straight to our home.

Advantages of a home loan?

  • Borrowing comfort – we don’t have to go anywhere, a company representative will come to our house with cash and a contract ready to sign.
  • Anonymity – loan companies are well aware that their clients value anonymity and do not want everyone to know about their financial problems. Therefore, a car with an advertisement from a non-bank company will not come to our house, but an ordinary car. Nobody will know who visited us.
  • Transparency of contract provisions – if we have any doubts after reading the contract, we can always talk about them with a representative of the non-bank company. A direct conversation with a representative of a loan company is one of the biggest advantages of a home loan.
  • Possibility to adjust the date of the visit – the borrower has the option to adjust the date of the visit to his own day plan. Thanks to this, the representative’s visit will not interfere with other obligations.
  • Payment method – a company representative comes for the money. So we don’t have to worry about the necessity of paying the installments of the liability. Some companies additionally allow repayment to a bank account. Then it is up to the customer to choose which form of payment suits him or her.