Loan consolidation and other types

There are many people who take out several or even a dozen small loans that are used to pay off previous debts or less expensive everyday expenses. This situation is not comfortable, however, because each loan has its own interest rate, repayment period.

Requires constant monitoring of many different repayments


So a great solution in this situation is to take a consolidation loan that will allow you to replace more loans with one. It is estimated that in this way installments can be reduced by up to fifty percent.

Therefore, a consolidation loan can replace a home loan, car loan or all types of smaller and larger cash loans, even those taken in foreign currencies. The consolidation loan usually covers a very large repayment period, which is why it is usually taken for a period of twenty years. His collateral is usually real estate, houses, flats.

Mortgage loan

Mortgage loan

Many people do not seem to be able to distinguish between mortgages and loans. However, this difference is fundamental. First of all, the loan from the loan differs primarily in the fact that there is no emphasized purpose of its use, therefore it can be used for any purpose chosen by the client.

In addition, the loan is granted not only by banking institutions but also by legal entities and even natural persons. Similarly to a loan, the loan must be secured against any insolvency of the borrower, which is why a mortgage based on real estate, in particular residential type, is used for this purpose.

For this reason, the rate of loan received varies from the value of the property allocated to it. In order to obtain the loan, the required documents must be inserted, including the following: excerpt from the land and mortgage register, property declaration, notarial deed confirming the ownership of the property, and real estate valuation.

Car loans

Car loans

Changed times when the car was a luxury good that few people could afford. Today it has become common in everyday use, and many people simply cannot imagine life without the amenities that a car brings. The main purpose of taking a car loan is therefore to buy a new car or a car that comes from a second-hand shop. The period of this loan usually ranges from half a year to several years, depending on the size of the loan sum. To take a car loan, you must meet the same criteria as for other loans offered by banking institutions.

For this reason, you need to have documents, and above all an ID card, as well as a certificate of monthly income. In addition, the creditworthiness of the potential borrower is very important, because otherwise, due to his insolvency, he will not get a car loan, because there is a risk that he will not be able to pay it back with the interest provided.

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