If you plan to finance the purchase of housing mortgage, so before złożymy appropriate application, it is worth to be well prepared for this rather complicated procedure.
Because the borrower must meet a number of conditions in order to obtain such loan.
Necessary positive story in the Credit Information Bureau
BIK is nothing but a comprehensive database containing information about customer liabilities of banks, Cooperative Savings and Credit, and more recently a customer liabilities loan companies. Credit and financial institutions through access to these data can efficiently assess the ability and creditworthiness of the customer before granting a loan. In contrast, the lack of credit history often result in the refusal to grant the loan. Financial institution, because it is impossible to verify, as a potential borrower repays its obligations. A good solution to this situation is to incur short-term credit commitments, eg. Taking out an installment loan for the purchase of household appliances-rtv to build your positive credit history. Efforts to credit really should start a few years before his puff. Impeccable credit history is a condition of receipt.
Essential own contribution
Under the existing Recommendation S Financial Supervision Commission, all loans in 2014 may not be higher than 95 per cent of the property value, which means that the borrower must have own contribution in the amount of 5% of the value of the property credited. In 2015, this condition is further increased, as will be required, at least 10 per cent own contribution. However, many banks now require a higher, 20 percent. own contribution.
Relatively high creditworthiness
At this point we should recall the recommendation of the Financial Supervision Commission on mortgages. The term "recommendation" may suggest some flexibility. In fact, banks apply exactly to these guidelines. Recommendation S relates to methods for calculating creditworthiness for loans for a period longer than 30 years (a maximum of 35 years) - in accordance with the recommendation of the bank for the analysis must take up to 30 years. In addition, each bank must set their own maximum acceptable height ratio, DTI, the ratio of total liabilities to the credit of the borrower's net income. Which means that the maximum amount of all payments that the borrower repays every month does not exceed 42-50% of income.
Carefully making applications in many banks
Error is also a "mass" to submit proposals on a number of banks in a short time, eg. One month. Each bank sees BIK because if we filed applications, but does not know which of them were taken into account, because such data flow to BIK one - two months. Some analytical programs automatically assume, therefore, that each of them has been completed the decision to grant the loan. So that our creditworthiness of decreases, because there is a risk that we will not pay another commitment.
How to increase the ability of credit?
We order our personal accounts and analyze which of the financial products we do not need. You should know that any limits in ROR, granted loan lines, overdrafts, credit cards issued to another, but not used by us, it's for analyzing our ability to bank credit are further commitments to reduce significantly affect our credit rating. And it does not matter that the limit has never been used.
Utter useless contract
Must be in writing to terminate the contract, dot. Line of credit, credit card, or debit. The notice period usually lasts one month, after which time it is worth checking the status of the debt, as it often turns out that the accounts have not been closed due to the calculation example. The amount of commissions, fees for the use of the card. A good solution is to request written confirmation of closing a credit card account or the account on which was a line of credit, and they no longer want more use.
It is also worth noting that our data update BIK not be immediate, financial institutions frequently update data in a single cycle, two-month, although there are and longer.
Faster pay off liabilities
If you have the opportunity, we should consider the faster incumbent upon us to repay loans. When paying off some loans, you should think about consolidation, or replacing one of several commitments installment lower than the sum of the previous installments. Also keep in mind that your credit score affects surety. Each bail reduced our credit score.
To increase the chances of our flat affect credited additional borrower who obtains a permanent and stable income, is also an opportunity to get a mortgage at a higher amount. Współkredytobiorca may, but need not, be related to us. There has to be a co-owner of the property, if you are trying for a mortgage.
Not only their own contribution. The costs associated with buying a property
If your financial situation is satisfactory and meet the conditions, which were mentioned earlier, we can apply for a mortgage in the selected bank or broker to take advantage of the mortgage market. I should add that now awaits us a number of expenses that are not credited by the bank, and apply the formalities related to the purchase of apartments (notary, tax on civil law transactions, et al.)
The costs of an intermediary
Choice of properties and a deposit or advance (with own funds) and the signing of the preliminary contract is usually 5-10% of the cost of the property value. If you use the services of a real estate agent, it is at this stage would have to pay 50% commission payable in connection with the service agency. If you buy property for cash, real estate commission is paid once. In such a situation, there is no down payment / deposit, no, because the preliminary contract). Such commission VAT is usually up to 4% of the value of the property. Following the submission of the loan application and the granting of a loan it is time to contribute your own. After paying for the bank's own contribution is finalizing the process of granting the loan by transferring funds from the loan on behalf of the vendor.
The next step is the signing of a notarial deed. This will involve the need to pay cash notary notary and CLAT (PCC) in the amount of 2% - a total of approx. 3% of the transaction amount. Bank such expenditure shall not refinance. You should also note that some transaction costs are not the same on the primary and secondary markets. At this first are usually from 3-6,5% of property value, depending on whether you use the services of an intermediary.