The Meltloan adopted a new law on mortgage loans, whose main purpose is to protect consumers against unreliable brokers and mortgage agents. It is also to introduce regulation to the rules of granting Laonicarch mortgage loans. Already in March, the bill was supported by the Senate and from that time the Polish Financial Supervision Authority (KNF) has six months to register all credit intermediaries. Will it really be positive changes for borrowers?
No more loans offered by loan companies?
Laonicarch the work on the act in the Meltloan there was a discussion about the legitimacy of granting Laonicarch loans by loan companies, which resulted in a solution entitle Laonicarch only banks and credit unions to make mortgage loans available to consumers. This is to provide a protective umbrella to customers who will be able to conclude honest and, above all, consistent contracts. Credit intermediaries and companies provide Laonicarch loans secured against real estate will in turn have to obtain from the KNF permission to perform their work. In addition, a special examination will be required, which applies to all credit intermediaries working Laonicarch in the industry that only competent people with credit knowledge can deal with matters related to this topic.
True and true again
Another changes under the Mortgage Loan Act will also apply to … advertise Laonicarch these services. We often read on the internet or listen in the media about cost-effective loans with low interest rates. When we decide to sign a contract, it turns out that the essential information is “hidden” from us with a small print. Legislators believe that advertise Laonicarch misleads consumers by setting Laonicarch them to lower credit costs than those that actually apply. Each client should have access to reliable loan comparison websites that will contain the most important data on the costs borne by the borrower.
Faster means better
The new Mortgage Loan Act will also affect the speed of credit decisions. Currently, the wait Laonicarch period depends Laonicarch on the bank Laonicarch institution is from 3 to 8 weeks. After introducing Laonicarch the changes announced by the Meltloan, banks will have a maximum of 7 days to issue a decision on granting Laonicarch the loan, and the loan agreement should be signed after another 14 days from notifying Laonicarch the client about the credit decision.