Framework conditions for the building loan

Building and loan associations in Germany have existed since the 19th century. With its entry into force in 1973, the building society law is much younger.

The latter is nevertheless of considerable importance, since it does not only regulate the securing of loans from building societies. With the Building Society Act, the legislature specifies in detail what tasks the building society may perform in detail.

Section 4 of the (Lite Lender) regulates, among other things, the question of which businesses may still be operated in parallel to the building society business. Pre-financing or interim financing as construction financing are therefore permitted. However, other consumer finance transactions do not belong in the area of ​​permitted transactions.

  • The Lite Lender also clearly regulates what options a building society has with regard to the use of funds. In addition to certain investments that are permitted, each building society must, for example, avoid exchange rate risks.

Full funding is not provided for in the building society law

Full funding is not provided for in the building society law

From the perspective of building owners, aspects that relate directly to building finance are much more interesting than the questions about investing customer funds. On the one hand, these are of course:

  • Minimum savings balance
  • Rating number and
  • Minimum saving time.

The way in which a home loan is secured also plays a role here. In this context, building societies cannot make their own decisions – at this point they are bound by the building society law.

Maximum loan value according to the building society law

Maximum loan value according to the building society law

The latter stipulates in Section 7 (1) Lite Lender that a pledge can be used as security up to a maximum of 80 percent of the mortgage value – in other words, lend it with a lien. The consequence: Without additional collateral, full financing of the property is not possible through the home loan.

According to the , there is no general requirement to secure real estate liens. Up to a certain (not named) amount, the building society can waive the lien. This also applies in the event that replacement collateral is available in the appropriate amount.

Cash machine – check the loans in your company!

Do you need a small loan up to USD 1,000 for emergency expenses? Do you want to have the funds in your account almost immediately? A good solution might be an offer from Good Finance! It provides loans from several proven companies. Who can apply for it? What does the process of applying for such funds look like? Do debtors have a chance? Advise!

Therefore, its activity consists not in borrowing funds, but in collecting applications, which it then sends to loan companies. The company’s goal is to provide the client with the best offer. The cash machine only offers online loans, and the service is directed especially to people who the bank has refused to grant a cash loan.

Is it worth borrowing via the Good Finance company? Opinions on the web are varied, so you should once again examine what Good Finance has to offer. Contacting the company directly is the best idea. However, before you decide on it, read our review!

How to take a loan from the cash machine?

How to take a loan from the cash machine?

The process in which the Good Finance loan will be granted is very simple and should not check your problems. How does it look step by step?

1. Set the loan amount and repayment time

First of all, you should use the sliders to choose the loan amount and repayment time. The convenient calculator available on the site will immediately tell you what the costs of contracting will be. So you will quickly find out, depending on your decision, the loan installment and the total amount to be repaid.

2. Complete the registration form

After confirming your choice with the “take a loan” button, you will go to the form in which you must provide all necessary data: name and surname, PESEL number and ID document numbers. Then enter the phone number, email address and password that you will use to log in to your customer panel. You confirm your willingness to take out a loan by marking the appropriate approvals. One more step awaits you.

3. Bank account verification

You verify the correctness of the bank account number provided by means of a transfer of USD 0.01. You can also use two other options: show energy bills from the last three months or send an account statement from the last thirty days.

4. E-mail confirmation of income

The next step is to send documents that confirm the receipt of regular income.

5. Wait for the loan decision and funds on the account

After completing all four steps, all you have to do is wait for the loan decision. If it is positive, the funds will be sent to your bank account.

Who can take a loan at the cash machine?

To be able to apply for a loan at Good Finance, you should meet all formal requirements. This way you have the best chance of making a positive decision. What are the conditions?

  • You must be between 20 and 67 years old.
  • You must have full legal capacity.
  • You may not have negative entries regarding your financial condition in the financial records.
  • You must have Polish citizenship.
  • You must have a bank account, email address and telephone number.

If you meet all of these rules, you have a great chance of a positive loan decision.

Loan costs with cash machines

Loan costs with cash machines

The great advantage of the services at Good Finance is the transparency of the loan offer. The loan broker makes no distinction in the terms of granting loans to new and regular customers. Everyone can apply for a minimum of USD 500 and a maximum of USD 1,000.

You can choose the repayment date from one to thirty days. The cash machine does not offer any discounts for new customers. You can’t get a free loan to start. Each commitment is charged with costs.

How are the costs for borrowing funds distributed via Good Finance? Let’s check it with an example!

If you borrow USD 500 for thirty days, the costs will be USD 132.70. What does it include?

  • interest rate of 10%,
  • commission equal to USD 40,
  • variable remuneration equal to 5.74 USD,
  • remuneration for the guarantor USD 85.

In total, you will have to donate USD 632.50

What is the client verification at Good Finance?

What is the client verification at Kasomat?

The verification of Good Finance customers is quite thorough. The company checks its borrowers in the MonitorInfo Economic Information Bureau. Thus, he has access to:

  • National Debt Register,
  • ERIF databases,
  • National Bureau of Economic Information.

If you are in one of the registers, you have very little chance of getting a loan through this broker. The cash machine does not verify the BIK debtors base.

Loan repayment in Good Finance

Loan repayment in Kasomat

You have a maximum of thirty days to pay back the loan at Good Finance. The exact deadline by which you must meet your obligations is based on your contract. You don’t have to wait for him. You can also pay back the loan earlier. This way you can avoid some of the costs. They will be reduced in proportion to the reduced repayment time.

What if you can’t pay the loan back on time? You have the option of postponing the repayment date by another thirty days. You just have to pay the current cost of the loan and the surety. It does not even require contact with a consultant. All you have to do is enter the client’s panel and press the “postpone repayment” button.

Loan at Good Finance – pros and cons

Loan at Kasomat - pros and cons

Good Finance is a company with extensive experience in granting non-bank loans. Using its services is a safe form of applying for funds. However, before you make the final decision to sign the contract, check the pros and cons of this offer.

Advantages

Disadvantages

  • there is no verification in BIK
  • relatively attractive loan costs
  • the option of extending the repayment date by another thirty days
  • transparent website
  • transparent terms of the offer
  • low maximum amount – only USD 1,000
  • verification in BIG InfoMonitor
  • the company is only an intermediary, it does not grant a loan itself