Which bank for a 20-year mortgage?


The duration of repayment of a home loan is chosen according to certain factors. Is the choice of bank decisive in this sense?

Are you eligible for a home loan?

Are you eligible for a home loan?

If you have stable income; that is to say if you have a permanent contract or an equivalent, you are more likely to have a positive response from the bank, if you apply for a mortgage. Even a person at the minimum wage can satisfy the bank, as long as the income is stable.

But what is also important, for the banking establishment, is to look at the charges, with regard to these incomes, to see if the debt ratio makes it possible to add a monthly repayment and this, for 20 years.

According to the banks, you can repay over shorter or longer periods, depending on your age, in particular. If you choose a credit over 20 years; what are the advantages?

Why repay a home loan over 20 years?

Why repay a home loan over 20 years?

The advantage of paying off a loan over 20 years is that it makes it possible to have lower monthly payments. This can be interesting, for a household which thus keeps more purchasing power and can devote the rest of its resources to other projects.

Even if 20 years may seem long, for a buyer who wants to own his property, this is considered by the bank to be a short repayment; knowing that some offer the possibility of repaying over 30 years; even if they tend to become scarce.

Repaying over 20 years is more advantageous than over 30, especially for interest, which is then high.

Such a duration also makes it possible to benefit from a more attractive rate. It is still necessary for that, to find the bank with the most attractive credit offer.

Which bank for your 20-year mortgage?

Which bank for your 20-year mortgage?

It is already important to find out which bank allows this type of loan, depending on your age. What the bank will look at to make the loan is the age you will be at the end of the loan. This is why some are more cautious than others, depending on the profile of the applicant.

Going through a comparator will allow you to find the establishment, which, for a repayment period of 20 years, will offer you the most attractive rate; that is to say the lowest, for your loan.

To have all the information and to help you in your research, you can also find in a mortgage broker, a person of choice. Feasibility of your project, calculation of monthly payments according to the proposed rates, you will have all the keys in hand to meet the bank, once you have chosen it.

The broker offers comprehensive support, ranging from studying the situation, comparing, but also negotiating with the banking establishment. Do not hesitate to call on him, if you want to find the best proposal to buy your future property.


Good Finance loans – check what it is!

The Good Finance loan is a non-bank product that in many ways resembles a credit card. This is not an ordinary installment loan, but a loan limit of up to USD 40,000, from which you can draw funds many times during the term of the contract.

The solution can be used in an equally simple and quick way as with an online loan , because the entire procedure of applying for funding takes place via the Internet, and access to funds is possible even within 15 minutes of the successful examination of the application.

What is a Good Finance loan?


To understand what a loan is in Good Finance, it’s best to compare it to regular installment products. Standard consumer loans are granted on a one-off basis in a specified amount, which must then be repaid in monthly installments with interest. In the Good Finance solution, however, a limit is allocated from which funds can be drawn in any amount at any time.

For example, if you receive a limit of USD 5,000 and you only need USD 500, you can only withdraw this amount and then only interest will be charged . You can reach for another amount from the available amount in a few weeks, but it will not be necessary to submit a new loan application.

The repayment of the loan in Good Finance also looks different from that of a regular loan. The lender will set a minimum amount that you will pay monthly. However, you can pay back more if your financial condition allows it.

Each installment payment covers both the principal and interest part of the loan, but the capital returns to the pool of available funds, thus increasing the remaining limit of money to be used. So, for example, if the monthly installment amounts to USD 400, then after the first payment about USD 170 from the regulated sum will be added to the limit, which will now amount to USD 4,670.

How do you get a loan in Good Finance? Step by step

How do you get a loan in Good Finance? Step by step

If you are interested in a convenient revolving loan, you can take advantage of it completely online. To do this, first you need to choose a service offering such services, and then perform a few simple steps:

  1. Select the basic parameters of the loan: limit amount, loan period, etc.
  2. Register on the loan service by completing the form and providing all necessary identification and personal data (name and surname, address of residence, contact details, PESEL, series and number of ID card, bank account number etc.) and information necessary for the lender to assess the ability credit (e.g. employment, income, other obligations, etc.).
  3. Verify your identity – for example, by making a symbolic transfer to the lender’s account.
  4. Wait for the credit decision.
  5. Familiarize yourself with the terms of the contract, the amount of the loan limit granted and the rules for using it.
  6. Withdraw (or transfer to your bank account) the amount you need – at Good Finance you can withdraw no more than 50% of the limit granted the first time.

Conditions for obtaining a loan in Good Finance


The loan limit can be used by people who meet certain conditions. The most important of them are appropriate age (minimum 18 years), possession of Polish citizenship and ID card, as well as permanent residence in Poland. You must also have your own bank account, email address and mobile phone number.

The loan in Good Finance is granted on the basis of a creditworthiness analysis . When applying for it, you must expect that the lender will want to know your income and will also check your obligations in the Good Finance Information and any arrears in BIG debtors’ registers. Negative entries in these databases may result in you being refused a renewable limit.

Do you know that…

Line a loan is granted on the basis of simplified procedures, as well as a loan to the statement. This means that when you apply online, you do not need to provide a salary certificate from your employer.

How high can the loan amount be in Good Finance?


The loan limit is available at a much higher amount than standard payday loans. You can apply for up to USD 40,000 on Good Finance. However, remember that the final amount of the awarded amount will depend on the results of your creditworthiness test. In short, the lender will adjust the size of the limit to your financial capabilities so that repayment is not difficult for you .

Good Finance loan – where can you find the best deal?


GFIC is a company entered in the register of loan institutions of the Polish Financial Supervision Authority, and its most well-known product is the Good Finance loan. It is granted under the following conditions:

  • limit amount – from USD 300 to 40,000,
  • repayment period – from 5 to 60 months,
  • interest – calculated only on the amount used,
  • the option of determining the date of repayment of the minimum amount,
  • payouts 7 days a week, 24 hours a day,
  • immediately after a positive credit decision you can withdraw a maximum of 50% of the limit amount – the rest will be available after sending the activation code by SMS, which is received by regular mail to the registration address.

Do you know that…

The Good Finance loan with a renewable limit from Mash is available not only on Good Finance. Here you can also apply for a limit of up to USD 40,000 completely online.

Similarly to Good Finance, people with Polish citizenship and 18 years of age, PESEL, own bank account and telephone number, as well as a permanent address in Poland can take advantage of the offer.

Advantages and disadvantages of the Good Finance loan

Advantages and disadvantages of the Good Finance loan

Before using the services of any loan company, it is worth checking what people who have already used them think about them. Admittedly, the loan in Good Finance opinions is in most cases positive.

The most important advantages of this solution should undoubtedly include:

  • simple loan application procedure – without certificates and completely online,
  • the possibility of receiving a high renewable limit,
  • permanent access to additional cash without additional formalities,
  • flexible forms of repayment (minimum amounts, the option of repayment day for monthly installments) .

However, the Good Finance loan limit also has some disadvantages:

  • it is only available to people with a good history in BIK and who do not configure BIG debtors in the registers,
  • high loan costs,
  • risk of excessive debt due to the freedom to withdraw cash within the limit granted.

Include Work in a Home Loan


You have found the home of your dreams. It has incredible potential, but it is clear that work is needed. This is often the case when you prefer to invest in the old. But with the cost of the house, how are you going to cope, to carry out these repairs?

The cost of the work included in the mortgage, yes, it is feasible:

The cost of the work included in the mortgage, yes, it is feasible:

Change a poorly insulated roof, redo the electricity, create an extension, there is no shortage of projects when you want to acquire a property to renovate. It is often easier to access the property with a property where work needs to be done, because the sale price is lowered. However, for the well-being of the inhabitants, it is often important to get the work done quickly.

You can therefore quite ask to include the price of the works in the mortgage. This presents, in addition to the practical aspect, advantages which should not be overlooked. The cost of the work is merged into the repayment of the loan, which is made over a long period. You only have one rate; that of mortgage loans; which, depending on the period, can be very interesting. However, it is imperative that your debt capacity, including this amount, remains below 30%. Another point to respect, you will have to provide supporting documents, relating to the good progress of the works.

Why not apply for a work loan, in addition to your home loan?

Why not apply for a work loan, in addition to your home loan?

There is however a second solution. It cannot be applied to specific works that require the expertise of a roofer, for example. But if the repair work is within your reach, because you are a good handyman, you can content yourself with requesting, in addition to your mortgage, an unrestricted work credit (or personal credit).

This leaves you free to buy the materials as you see fit and carry out your repair task, without having to give supporting documents to the bank. On the other hand, there again, this can only be done if your debt capacity remains within the acceptable average.

How can I be sure that my credit application will be accepted?

How can I be sure that my credit application will be accepted?

You can, if you know the sale price of the house, the notary fees, make a calculation. Do not forget the amount of insurance and the various costs related to a mortgage. Include the estimated amount of your work. See according to your resources but also your expenses. If your debt capacity allows you, you will be more serene to make your request with your banker.

Be aware that there are simulators on the Internet that can help you. You can also get help from a financial professional, if all these figures are beyond you. Depending on the information given, he will be able to tell you if your file is likely to go through or if the addition of the work is too much. Comparators can help you find a more open bank if you want to compete.


Learn how easy it is to get your loan here

We like the stories of your daily life, such as that of Julio and his wife who did a small work in their home with the online loan from Lenders Credit.

We give you a hand with those things that you need to change, buy or renew, the online loan makes it very easy for you. Julio tells us how he made a small reform in the basement of his house requesting the loan online.


A loan to do a home renovation

A loan to do a home renovation

Occasionally you have to make an arrangement at home even if it is not urgent, and the online loan and conditions fit us very well. My wife and I had been wanting to change the bathtub for a shower tray for some time, it is more practical and more comfortable, in the end you always shower and the bath takes up too much space. So we did not want to delay it any longer, we looked for an online loan and Lenders Credit was our option .

Taking advantage of the simplicity of the work, and knowing that we could ask for up to 3,000 dollars, we dared to change the toilets as well, and thus do everything at once. We needed to change them a long time ago and we can return the loan online in 24 months. Returning it like that didn’t require as much effort, and you know what you pay each month.


The loan quickly granted

The loan quickly granted

We had been delaying a lot, my wife convinced me to do it once and for all when she saw an offer online from a reform company. I had also searched for the loan online with Lenders Credit, so he left me in the option. The credit suited us perfectly for our situation, we easily managed it with Lenders Credit on the web and they made the transfer right away. The process is very effective, we recommend it.

From time to time we have to make an arrangement at home, although it is not urgent, both the online loan and the conditions fit us very well, we do not move money from our savings and the financing is bearable. We could even choose how much to return per month.

We are very happy with the changes in the bathroom, the shower is more practical and everything has been great. When you make these small changes, you realize that they were needed and you live a little better and happier in your own home.


You can also reform your home with a credit

home loan

Do you dare to make a small arrangement in your house like Julio? Look at our personal loans and see how fast the process is and how easy we make it for you. Contact us and we will solve all your doubts.


Apply for a loan and reform your home!

Returning to routine usually means that we finally consider taking the step of making that reform in our home that we may have been postponing for various reasons; perhaps one of them is precisely its financing. According to Andimac (National Association of Ceramic Distributors and Construction Materials), the average value of the reform of a 90 m2 house was 22,701 dollars plus VAT in 2018, so make the decision to undertake it, especially if it is of the home in which we already live, it is something that should be meditated a lot.


Why use financing to make a reform at home?

apply loans

Financing your reform is usually a tricky aspect and one of the reasons why it is more difficult to take the step of carrying it out, since its amount is usually high. If you have saved long enough and can afford to pay without destabilizing your budget, congratulations! You’ll be able to take the expenses out of it with a single stroke and you won’t have to worry about future payments or the more than probable interest of other options. Still, make sure the contractor gives you a closed budget that saves you from surprises – and disbursements – later.

If this is not your case, the possibilities you have are numerous: from requesting a mortgage loan for reform to loading the amount on your credit card, but it is not always feasible to access all of them. Therefore, before even requesting a quote, compare all the alternatives available to you so that you can choose the most appropriate one for you.


What should you consider before applying for a loan to make a reform?

What should you consider before applying for a loan to make a reform?

First of all, we recommend that you manage it in time, as it may be the case that the bank takes more time to respond than the account and the budget that the contractor gave you no longer applies.

If you do not have the possibility of accessing a personal or mortgage loan, or the time is over and you do not want to give up the conditions that your contractor has offered you, you can turn to a fast credit financial institution, such as MoneyCone Credit. We offer you up to 5000 dollars so that you can pay for your reform: we give you up to 36 months to return it and we pay you the money in just 15 minutes from when we approved your request. You will only have to access our website, fill out the form and attach the documentation we ask for. We will give you an answer as soon as possible.


Benefits of a mortgage loan to reform your home

mortgage loan to reform your home

If you apply for a mortgage loan for reform, the main advantage is that you will have enough time to repay it. However, whether you get it depends on many factors and, in addition, the response can take a long time, as in the previous case. Always ask for it with enough margin to avoid taking unpleasant last-minute surprises.


Other important issues in the reform of your home

Other important issues in the reform of your home

You may think that, already in the works, it is better to do all the planned reforms at once and take away the inconvenience in the future. Or the contractor may make some suggestions that, while beautiful and practical, end up inflating the initial budget. In that case, the first thing is to prioritize. It is more convenient to start with what is really necessary and would mean a significant qualitative leap in the quality of life in your home, and postpone accessory changes for later. For example, you can consider starting with the kitchen and the bathroom, and leaving for later other less indispensable or merely aesthetic issues.

On the other hand, learning to delegate is a very useful vital skill, yes, but it should also be done in its proper measure. If there is any part of the reform that you can or know how to do, why don’t you venture out and get down to work yourself? Opting for do it yourself can cut your reform budget considerably; that’s why, if you have the knowledge for the task in question and, in addition, you like DIY, you can enjoy while saving. Do you want to dare with it, but you are not sure where to start? On YouTube you will find thousands of tutorials on changes and reforms at home that will guide you step by step to obtain the best result.

It is also essential that you do not stay with the first budget that they offer you: do not be afraid to ask different contractors and compare the conditions they offer you. Only then can you choose the option that best suits you and your needs. Always make sure that they offer you all the guarantees and, if you have the possibility, trust someone who has given you good references.


Another very important aspect is that of permits

Another very important aspect is that of permits

Before starting the works, contact your local town hall and request all necessary permits and licenses. Surely the contractor can guide you in this regard if you are not very clear what to ask for; do not hesitate to ask everything you need, but the responsibility in this regard is yours, so do not risk it. Also take into account the cost of these permits in your budget: although they are not usually large quantities, it is better to contemplate them in advance and not be surprised afterwards.

Finally, did you know that there are various public bodies that grant subsidies for the rehabilitation and reform of homes? Both on the website of the Ministry of Public Works and on that of some autonomous governments you can find out about the active calls for subsidies for the reform of homes and buildings. In them, you can find out if you meet the requirements to request them. From improving energy efficiency to basic functional adaptation for the elderly or disabled, the options are numerous and, in certain cases, the amount of aid could be 75% of the cost of the reform. Check with your town hall – many of them have signed collaboration agreements with other entities and act as intermediaries – or on the websites of the competent bodies.


Check how to get a cash loan without BIK.


BIK is a Credit Information Bureau, i.e. a database gathering all information about borrowers and some borrowers in Poland. When analyzing the creditworthiness of customers, banks use BIK to assess the client’s financial situation and check whether he will be a reliable borrower. However, can you get a cash loan without BIK?

Bank’s creditworthiness and assessment


Based on the Recommendation T of the Polish Financial Supervision Authority, which deals with good practices in managing the risk of retail credit exposures, banks in Poland are required to thoroughly assess the client’s creditworthiness and creditworthiness before they decide to grant them a cash or other loan.

In Recommendation 6 of Recommendation T, the PFSA indicated that the bank must examine the customer’s creditworthiness in terms of quantity and quality before making a decision on granting a loan. Quantitative analysis consists in determining the amount and stability of sources of repayment of the credit obligation.

Qualitative analysis, on the other hand, is an assessment of the characteristics of a retail customer that have a significant impact on his willingness to repay a loan commitment. The analysis of customer quality features includes:

  • analysis of client characteristics such as age, marital status, number of dependents, education, occupation or seniority;
  • analysis of the history of cooperation with the bank;
  • analysis of the customer’s credit history on the basis of information available in external, including interbank, databases built by banks, and if justified, also on the basis of data available in business databases.

It follows that in the process of crediting and assessing a customer’s loan application it is necessary for the bank to obtain information from the Economic Information Bureau.

Credit refusal

Credit refusal

The bank grants a cash loan after a positive assessment of creditworthiness. It checks BIK and analyzes whether the customer can afford the loan he is applying for. Negative entries in the BIK databases, proving the late repayment of credit and loan obligations, mean that the bank will refuse to grant another loan.

It is not possible to obtain a cash loan without BIK at banks or cooperative savings and credit unions. Online loans are an alternative because the companies that grant them are not covered by the recommendations of the Polish Financial Supervision Authority.

Loan, not cash loan without BIK

Loan, not cash loan without BIK

If the client has wrong entries in the BIK and was considered an unreliable debtor, then there is no chance of a loan in the bank. However, he can apply for a loan without BIK in non-bank companies. Sometimes you may encounter a situation where loan companies will advertise their loans as “cash loan without BIK” and without certificates. These are popular financial products among many customers.

Non-bank companies are not covered by the Banking Law or KNF guidelines. That’s why they generally don’t have to be so restrictive about verifying their clients’ creditworthiness. They can afford to grant a loan without controlling the BIK. However, in such a situation they can also reach the databases of economic information bureaus operating on the Polish market.

As you can see, there is not one central economic information office, but there are several similar institutions. It is worth checking before submitting an application for a non-BIK cash loan to a non-bank company if it does not check other databases that may contain information about delays in repayment of financial liabilities. Then you have to take into account the refusal to grant the loan.

Cash loans without BIK and without controlling other databases can be granted to customers conveniently online, which allows you to quickly obtain the desired funds with the payment directly to the client’s bank account.


What is a participatory loan?

The participative loan is a very common financing instrument among companies in early stages, characterized by the presence of the lender that, in exchange for a certain amount of money, participates in some of the benefits of the financed company, in addition of the collection of a fixed interest previously established. Traditionally, it is considered as an intermediate figure between the injection of capital by a private investor and the loan offered by financial institutions.

This product has become highly relevant in the entrepreneurial field, since it can be used by loan companies or private investors to finance a start-up. These would have the possibility of eventually entering the emerging company as a partner, since the contract establishes a period of time after which the investor can decide between requesting the loan to be repaid or transforming that debt into a percentage of capital participation. of the society.

Participatory loans have thus been conceived as a way to promote the creation of viable business projects with prospects for growth and consolidation. Therefore, the requirements to access this form of financing are closely linked to the viability of the company and its business model. Thus, when formalizing a loan of these characteristics, instead of requiring the usual personal or mortgage guarantees for the granting of a loan, financial institutions usually demand a detailed report of the business model, in order to know to what extent the company is sustainable, has future prospects and, therefore, it is safe to bet or invest money in it.


Advantages and disadvantages of a participatory loan

As we saw in previous lines, the main advantage of participative loans is that they do not require guarantees, although for their concession it is necessary to present a quality business plan that guarantees the viability of the business project.

Furthermore, the interest on participative loans is much more flexible than that of other types of financing, since the amount of the installments that the entrepreneur must pay adapts to the evolution of the company itself. As for amortization, although within the financial market there is a wide range of financial products, participative loans offer the longest amortization periods. Thus, depending on the type of entity that grants the loan, the repayment of the loan can last up to ten years.

In the same way, the grace periods to which the employer can receive are usually longer than in loans to use. In fact, sometimes up to seven years of grace are offered, which, during that time, will allow the financed company to pay reduced installments that only amortize the interest.

On the other hand, the financial expenses linked to this type of credit, such as possible commissions or interest, are deductible from the tax base of corporation tax. In addition, its priority of payment is behind that of normal creditors, which is an ease when facing the lack of liquidity or possible debts of the company.


Participative loans are considered equity in terms of capital reduction

Among the disadvantages of this financial product is that companies do not know what the real cost of the loan is, since it will depend on the evolution and the economic results that the company obtains from its performance. In fact, entities that start to reap positive results will have to pay a higher interest rate than with other financing methods. As a general rule, financing is more expensive after the sum of the fixed and variable interest associated with the loan. In addition, the financial institution that grants the credit usually requires the applicant company to make an annual financial reserve to pay the loan granted with part of the benefits obtained.


What is a participatory loan model like?

money loans

Participatory loans are regulated by article 20 of Royal Decree-Law 7/1996, of June 7, on urgent measures of a fiscal nature and the promotion and liberalization of economic activity.

Two interest rates are reflected in a model participative loan contract. The first is always present, and is the one that is linked to the company’s results. It is, therefore, a variable interest that changes according to the annual net profit. This interest rate is usually also set by minimums and maximums.

On the other hand, there would be the fixed interest that is stipulated at the time of the formalization of the contract. This interest is independent of the company’s income statement and is usually a differential set by the lender itself.

This type of agreement must be implemented in writing, without it being necessary to raise it to the public in a deed granted before a notary, so the bureaucratic burden and the added cost that it entails is a point in favor compared to, for example, the capital increase.

In conclusion, participative loans can be a very interesting source of financing for certain companies that are starting their business and have a future projection. They are usually long-term loans in which their early repayment is limited, so the lender is the first interested in the success of the business project and, therefore, in making the terms of the loan more flexible. In addition, in the event that the company must be liquidated, the participative loan is considered part of the net worth and helps to delay or even prevent the closing of the company.


Long-term loans or short-term loans?

There are several ways to classify loans: by means of the type of guarantee used as collateral and depending on the duration of the loan.

Based on the type of collateral, we can distinguish four types of loans: personal collateral loans, collateral loans, home equity loans, and pledge collateral loans.

If, on the contrary, we take the duration of the loan as a reference, we find two types: long-term loans and short-term loans. Let’s see how the latter are distinguished!


Differences between long-term loans and short-term loans

Differences between long-term loans and short-term loans

The main distinguishing feature between a long-term loan and a short-term loan resides, as we have mentioned, in the duration of the loan. While the first has a maturity of more than one year, the short-term loan does not exceed 12 months.

Another difference is that short-term loans are usually used to request amounts of money lower than what is usually requested in long-term loans. This is because short-term loans tend to focus on meeting specific and urgent needs, while long-term loans are used to finance large operations such as the acquisition of a property, a vehicle, the start-up of a business or any other operation whose development is carried out over a long period of time.

When opting for one or the other option, it is not only essential to be clear about these aspects, but also what advantages and disadvantages each of them entails. Let’s see them!


Advantages and disadvantages of short-term financing

financial loans

The most notable advantage of short-term financing lies in the possibility of obtaining money immediately.

In a few minutes we can request our short-term credit online and obtain an almost instantaneous response. It does not require excessive bureaucratic procedures or paperwork and, as a general rule, it is not necessary to physically go to the office to formalize the procedure.

Another advantage of these loans, compared to long-term loans, is that they have lower interest rates and, therefore, the cost of financing is lower.

However, short-term loans, as we mentioned, offer a smaller amount of money (usually not exceeding 1,000 euros) than long-term loans. This is an essential aspect that the applicant must take into account when deciding on one or the other option.

Another aspect to keep in mind in short-term loans is that the repayment period of the borrowed amount is shorter and cannot be postponed. If this happens, it would be necessary to pay high default interest for having failed to comply with the stipulated return period.


Advantages and disadvantages of long-term credits

credit loans

Adaptability and flexibility are two of the most notable advantages of long-term loans. By offering the option of returning it over a long period of time, it allows, in many cases, to choose the number of installments with which the loan will be amortized. That is why long-term loans are better suited to the solvency of each.

In addition, in many cases, long-term loan contracts can be modified or renegotiated, and there are few occasions when grace periods apply. The key to these loans is that, between the lender and the borrower, they establish a long-term relationship, which gives priority to establishing optimal conditions for the borrower and that, at the same time, the lender can receive the borrowed capital plus interest .

Despite these advantages, these types of financial products also have their “buts”. In addition, requesting fast long-term loans seems more complicated than in the case of short-term loans since greater detail is usually required in the documents and this can delay the management and granting of them. Solvency is a determining factor when applying for any type of loan, even more so in long-term loans, so if we do not have any monthly income, it is very possible that we will be denied it, since in that case Asking for a loan could be a problem for us.