Watch out for real estate loans!

It is estimated that every 10 Pole has ever drawn a non-bank loan. Their popularity is mainly due to the fact that the formalities necessary for borrowers to complete before receiving a loan are much simpler than in the case of bank loans.

There are loans with collateral, e.g. a blank promissory note. In particular, one should be careful about loan offers with the registration of real estate.

Categorically, the customer should not sign a loan agreement in which, in the absence of repayment, the lender takes over his apartment. It also happens that the customer unknowingly signs a sale and purchase agreement with a right of repurchase after loan repayment.

Mortgage loan only at the bank

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Pursuant to the Act of 22 July 2017 on mortgage loans, loans with such collateral may be granted only by banks and credit unions. Therefore, any loan granted outside the banking system cannot entail establishing a mortgage in the land and mortgage register.

It happens, however, that a loan company requires the transfer of ownership of a property under a notarial deed to provide high financing. It is very risky because any delay in paying the loan can deprive the borrower of the proverbial roof overhead.

Complaints about the procedure of granting loans with the registration of the real estate

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The Financial Ombudsman receives complaints about the procedure of granting loans with the registration of real estate. In most of these cases, the borrower has simply been the victim of a crime, which is why the Ombudsman automatically informs the prosecutor’s office and warns potential clients against signing similar contracts.

Categorically, we should not agree to sign a contract in which the condition for granting a loan from a natural person or non-bank company is the establishment of collateral related to real estate.

Fraudsters take advantage of the borrower’s ignorance and gain property registration

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Unfortunately, unreliable lenders and, in fact, fraudsters take advantage of the borrower’s ignorance and gain property registration.

The contracts have a perverse structure, e.g. it is not a loan agreement, but in fact, the document signed by the customer is a contract for the sale of an apartment with the possibility of buying it back after the repayment of the borrowed amount with interest.

The Financial Ombudsman emphasizes that such contracts should not be signed because they are unfavorable to What will the Consumer Ombudsman help you? “

The consumer. In addition, he remains without any legal protection. They are not loans secured by a flat, secured by a mortgage entry, but associated with a transfer of ownership of the property.

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