Loans with pledge: key information


Loans against the pledge of a house or apartment are products that clearly arouse increasing interest among Polish customers. It should be added, however, that the growing interest in this variety of loan products has not yet been accompanied by an increase in knowledge about the specificity of their operation.

According to the unanimous opinion of experts, it is precisely the lack of reliable knowledge about the advantages of such solutions as real estate loans that is still the main factor causing that despite the growing interest of Polish consumers in taking out loans under the pledge of a house or apartment, they still decide much less frequently than, for example, Western consumers.

Loans with pledge: key information

Real estate loans are considered by specialists to be one of the most attractive, if not the most attractive of all currently available forms of loans, both bank and non-bank. At the same time, however, it is worth pointing out that in the so-called social reception of a loan as collateral for a house or flat, they are still considered to be a solution involving a considerable risk. Probably this and not any other way of social perception of loans is influenced by the fact that the formal inclusion of a house or flat in the content of the loan agreement makes the prospect of possible loss of the property more palpable.

However, it is worth to be aware of the fact that these are only misleading appearances. In reality, loans under a pledge turn out to be, for example, the most effective and safest way out of the debt spiral. In the case of customers using loans under pledge, there are also much less frequent problems with timely repayment of liabilities or falling into a worse financial situation when repaying the loan.

Of course, the phenomena described are by no means accidental. Loans under real estate pledge are by all means much more favourable than other available variants of loan products. Above all, it is important to mention their significantly lower interest rates while at the same time being able to significantly extend the repayment period. In practice, this means that the amount of the monthly instalment can be reduced by as much as several dozen percent. In the case of loans against the backdrop of a house or flat, the consumer may also borrow a larger amount than is the case for standard types of credit.

Myths related to pledged loans

Probably, real estate loans are very often perceived as risky solutions also due to the rather large number of myths and stereotypes associated with these services. Customers often think that even a single instalment payment problem will result in the loss of the property: of course, it is not true. In fact, banks and loan companies have no interest in depriving customers of their real estate: on the one hand, it affects their reputation, and on the other hand, it is simply a legally and formally complicated process.

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