Polish residents are systematically increasing their property. Indicators of prosperity and prosperity of our country are still climbing. The average per capita income is increasing, the value of gross domestic product increases, the purchasing power of money increases. The constantly improving economy, freed from the muzzle of various types of regulations restricting the freedom of functioning on the market, is beginning to gain a rapid pace, becoming more and more quickly following Western European models.
We can discuss which incentives are more important, whether those that force entrepreneurs to invest in modern technologies and the use of the most economical solutions, or those that act on the attitudes of consumers choosing products best suited to their demanding requirements, sophisticated tastes and various consumer needs or investment.
Fortunately, the increase in our wealth goes hand in hand with the growing possibilities of using the saved money and translates, which is important from the point of view of the sector of producers of various types of flats, houses and residential buildings, generally speaking housing, to increase their creditworthiness.
Flats and houses are products that are rather difficult to buy for cash. As a rule, their value corresponding to the expectations of future buyers as to the size, location and finish is very high, more and more often exceeding the barrier of one million zlotys. On the one hand, it is difficult to make a purchase for such a large amount, based only on your own savings, and on the other hand, due to the relatively low, if we compare the cost of loans with those that occurred in previous years, the costs associated with the use of borrowed from banks and For other financial institutions with money, choosing a mortgage financing option may be the best option.
Due to the wide possibilities of investing our savings, which gives us a growing economy and the ability to participate in the capital market through many easily available stock exchanges or commodity exchanges, it often turns out that buying for borrowed money while investing medium or long-term own resources becomes a very profitable idea.
Of course, this is not always the case. All too often, such ideas end in a spectacular failure, provided they are implemented without the necessary knowledge and insight on the market. We always need to find out what the mortgage rate is if we consider the possibility of buying a residential building with funds from the loan. We have a range of solutions available on the market. Various types of loan interest comparisons come to the fore.
Mortgage comparison websites provided by financial intermediaries are easily available on the Internet. Economic comparisons offer a different type of comparison. Based on these statements, we can find out what the interest rate is, what is the maximum loan period or how much the commission for granting a loan is. For information, we can also go to a specialized credit brokerage company or agent.
Pursuant to the Consumer Credit Act of 12 May 2011, all loan bidders were forced to submit standardized information in the form of Real Annual Interest Rate. This value allows comparison of the actual costs of loans granted by various credit institutions and must include all fees directly related to the granting and servicing of a given mortgage or consumer loan.
The aforementioned Act introduced a number of changes to the lending activity offered by companies from the financial sector, in particular it defined the obligations of the offerors and the rights of borrowers, which made the assumption of mortgage repayment obligations more transparent, convenient and safe for consumers.
It would be good for everyone who faces the necessity or possibility of using this form of financing not only to get acquainted with the information provided by banks, credit intermediaries or credit agents, but also to reach a legal act that regulates the mutual rights and obligations of the parties to the contract credit.
Good knowledge of this Act will not only facilitate the way to get your own home, but also can save us time related to submitting any complaints arising from the acceptance of conditions that should not be accepted.