Bridging credit instead of mortgage? Advantages and disadvantages


What is a bridging credit?

What is a bridging loan?

Interest rates on mortgages continue to rise and banks will no longer provide you with 100% of the value of your property. A bridging credit is an intermediate loan that is used to bridge the time to claim a regular building savings loan. The advantage of this intermediate loan is its quick settlement and the fact that you can draw it in large amounts. However, building societies also lay down the conditions for obtaining a bridging credit. But it reaches more people than consumer credit. Learn more at

Here are the biggest advantages of a bridging credit

Here are the biggest advantages of a bridging loan

The bridging credit is a compromise between a mortgage and a classic consumer loan. You will get a higher interest rate than a mortgage, but for its purpose the interest rate is still relatively low. You can use this type of loan immediately and repay it at any time. Building societies offer bridging credits secured by real estate even without real estate collateral, which you will appreciate when buying a cooperative apartment.

What are the disadvantages of a bridging credit?

What are the disadvantages of a bridging loan?

You can only use bridging credit money for housing needs. Experts say that this type of loan is most suitable for paying minor renovations and repairs. Monthly interest is paid on the entire target amount and is the same for the duration of the loan. Extraordinary installments in the bridging credit phase are subject to a fee according to the current tariff. Building societies check the creditworthiness of the client and may require a guarantor. Pay attention to various fees, for example for arranging building savings.

What is a bridging credit for?

What is a bridging loan for?

The bridging credit is intended for the acquisition, construction or reconstruction of an apartment and house. You can also finance the purchase of building land or you can pay the transfer of membership rights and obligations in a housing cooperative. This loan is also suitable for converting non-residential premises into flats, for refinancing other housing loans, or for settling inheritance or joint property of spouses in connection with housing.

Loan application – how to complete it correctly?

Do you know how to complete a loan application correctly?

It is not difficult to take out a loan these days. There are many loan companies on the market that attract both young and older people with their diverse offer. More and more companies are being advertised as institutions providing quick loans via the Internet. All you have to do is fill out the application and the transfer to the customer’s account is made within 15 minutes, after which you can already enjoy the funds. However, do you know how to properly complete such an application in order to get a loan without any “tricks”, “stars” or contents written in small print?

Loan application – what data can the lender require?

Loan application - what data can the lender require?

As for the information that will be needed to complete the application, it is:

  • First name and last name,
  • ID number and PESEL number, as well as the date of issue and validity of documents,
  • Date of birth,
  • Mother’s name, father’s name, mother’s maiden name,
  • Home address and correspondence address,
  • Telephone number and email address,
  • Bank account number,
  • Form of employment and source of income,
  • Monthly account inflow, monthly commitments and expenses,
  • Marital status and number of dependents.

In fact, lenders don’t need that much information – usually basic ID details are enough to fill out an online application.

How to complete the loan application correctly?

How to complete the loan application correctly?

Filling out the application does not have to be difficult if we follow the rules below:

  1. First of all, read. Sounds trivial, but this is the only right and basic principle – we read the loan agreement and the questions carefully.
  2. Secondly – check. If we are not sure about something – we check. Before taking out a loan, it is worth checking information and opinions about the company, as well as comparing it on financial comparison websites.
  3. We enter only the data we are asked to and check their accuracy twice. Loan applications should not lie, deliberately inflating or underestimating the amount of wages and expenses.

If you are unsure – go to the facility

If you are unsure - go to the facility

Some people are afraid of completing online loan applications. They do not trust this form of inference. If you have even a shadow of concern or suspicion, it is worth giving up and going to a branch (be it a loan company or bank) and turn to the employee there. We recommend the same procedure if the person is unable to complete the application himself, because this task is too much for him. An employee on site can help.

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