Mortgage loan — how can you buy your own apartment on credit easily?

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Hi! I’m Tomek.
From Waiter To Millionaire. Welcome.

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Today I’ll tell you
how to get a mortgage loan.

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I’m about to meet Tomek Zastawny,
who’s gonna explain to you

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how to get this loan.

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I’ve managed to get one,
so it’s not that hard.

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Welcome. We’re with Tomasz Zastawny,
a financial expert.

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– Hi.
– Hi.

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– I’m very pleased to meet you.
– Me too.

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– I’ve managed to get a loan.
– You simply had a good expert.

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Yes, we did it together.
You’ve helped me get a credit.

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Who are you?
Introduce yourself briefly.

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Briefly. I’m Tomasz Zastawny.
I’m a financial expert.

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I’ve been working in credit intermediation
business for almost 11 years.

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I started in July 2007.

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It was a memorable date,
because I was getting married.

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It was interesting.
I’ve spent my honeymoon on a training.

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My wife was more than happy.

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So, for almost 11 years I’ve been helping
making dreams of my clients come true,

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regarding their apartments, homes –
real estates, in general.

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That’s what I’ve been doing for the last
11 years and I hope there’ll be more,

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as I really enjoy doing what I do.

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You certainly know how to get this loan.

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Tell us, why we should
get a mortgage loan on our apartment?

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You probably already know
the answer to this question yourself.

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– Yes, but maybe our viewers don’t.
– You’re right.

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I got my first credit in 2004,
when the apartments were much cheaper,

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so this credit was not that big,
but many people rent flats now.

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It’s very common.

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When you rent an apartment,
you pay an instalment for it’s owner.

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Unless the owner already
paid an apartment loan,

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so he earns on renting.

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But nowadays there’re a lot of investors
who buy apartments on a loan,

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rent, tenats pay their loan
and often they also earn on it.

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That’s a great situation,
whereas people who rent this apartment

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and pay for it don’t realize
that they can take out a loan

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and repay their own apartment.

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When we buy an apartment,
we become attached to this place.

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Renting gives us a freedom to live in
different parts of, for example, Kraków,

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but it doesn’t give us a freedom
to do what we want in our apartment.

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Often, when renting,
we even need a permission for nailing.

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That’s an uncomfortable situation.

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Or paint a wall in different color.

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While in your apartment
you can do anything.

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So, as long as you have a solvency,
you should buy your 2- or 3-person

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and feel comfortable, having
your own apartment and repaying it.

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The loan instalment is often
the same as the owner’s rent.

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So, if we know that
we want to live somewhere,

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why should we pay rent instead of
pay for ourselves in a kind of investment.

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– Exactly.
– And do it this way.

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But many people
who don’t have a mortgage loan

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are afraid of this process,
as it seems complicated.

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Taking a loan for an apartment,
lots of paperwork, certificates.

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Anyone who wants to take
such a loan thinks that it’s complicated.

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Is it really that complicated?

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For me, it’s not, as I’ve been working
in this business for 11 years.

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It’s simple.
But each client is different,

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almost every topic that I process
is different.

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The clients’ situations
often differ from each other.

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Therefore, what is worth doing
at the start?

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Check our solvency. That’s the basis.

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First thing – if we earn
a certain salary,

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are we able to take out such a credit
which will allow us to buy an apartment.

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So, in order to take out a loan,
we need to have a solvency.

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First thing –
we have an employment contract,

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we have a basic salary, bonuses, benefits.

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This allows us to repay the loan.

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Banks have their calculators,
I also have an access

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to over a dozen
bank’s calculators from my offer,

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we’re able to check whether
a given person has a solvency.

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Many people having a contract of work
or their own economic activity

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think that their type of income
prevents them from getting a credit.

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But they can. If you’ve earnings,
you’re employed at a particular workplace,

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depending on the form, for some time,
you can take out a loan.

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If you have a permanent contract,
it’s enough to work for 3 months

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in order to take out a mortgage loan.

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So, it’s not as difficult as it seems.

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If you devote your time to this task,
you can accomplish it within a few months.

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Yes. In general,
maybe I’m self-promoting myself now,

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but it’s worth to take advice
from an experience expert.

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Of course, you can go to a bank
and lose time there,

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because this bank’s advisor bank
will pitch for their loan offer.

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I’m here to guide you
through the whole process –

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the first meeting, signing documents,
completing paperwork from a developer

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or from the person
who sells you the property.

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I guide you around the whole process.

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Bank’s advisor will pitch their offer,
as that’s their job.

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It’s in my interest that
you get the best offer available.

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We compare the offers from all the banks
and choose the best one for you,

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so that you can recommend me –
if you’re satisfied with my service.

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That’s how I do business.
90% of my clients are referral customers.

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So, that’s how it goes.

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If I hadn’t done my job reliably,
I hadn’t recommended the best banks,

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then I probably
wouldn’t have sat here now.

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Yes, because I’m also your happy customer
and I can truly recommend you.

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My loaned apartment
is almost finished now.

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However, everyone’s afraid of it all.

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With your help through
the whole process –

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I can confirm it,
but I must ask you for our viewers –

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the entire process is not so complicated
if you have someone,

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who handles this topic for many years.

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That’s right. I know my business.

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But if my car’s broke,
I search for a good mechanic.

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I drive to him, he fixes my car,
I’m clueless what he’s doing.

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When a light bulb breaks in my car,
I don’t replace it,

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but meet an electician
who will do it for me.

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When you come to me,
you get info how to get a mortgage loan.

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As I’ve mentioned earlier,
I guide you from the first meeting

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and give you all the needed info
how to obtain this credit.

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The first step before buying a property
is to check your solvency.

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You must cut your coat
according to your cloth.

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It’s easy to take out a mortgage loan,
but you have to repay it.

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In addition to a solvency –
now we move to the next steps –

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you should also think about
your own contribution.

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The question is
how to get this contribution,

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but we won’t discuss this topic.

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We need to earn money
for our own contribution.

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It doesn’t need to be
a huge amount, right?

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Financial Supervision Authority
recommends that

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your contribution
should be a minimum 20%.

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But there are some banks
which will give you a credit

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for up to 90% of the property value.

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So, if you want to buy
an apartment for 70,000 USD,

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you need to have a minimum of 7,000 USD
in order to allocate them

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on your own contribution.

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Of course, there are also
deal-related charges, like notary fees.

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It also depends on which market
you buy this apartment –

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primary or secondary.

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They differ in costs.

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But we can talk about it on a meeting
and I can choose the best option for you.

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10% is a minimum.

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Of course, if we have 20%
of our own contribution,

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we can get better bank offers,
have greater availability,

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as some banks require 20%.

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You can learn all this at the meeting
and choose the best option.

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Also, a credit period.

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If we take a loan for a longer period,
we will have a lower installment.

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Shorter period – bigger installment,
but we’ll pay less interests

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in the entire credit period.

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There are many nuances
which we must discuss individually,

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because each customer is different
and expects something else.

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One prefers to have a longer period
and pay a lower installment.

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You must know that a mortgage loan
carries a variable interest rate.

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Today, I can have
an installment of 400 USD,

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but it doesn’t mean that it won’t change
through the entire credit period.

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Fixed interest rate loans
have recently appeared on the market,

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but, as of today,
their interests are higher

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than in credits
with a variable interest rate loan

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and I think that’s
the type of credit we should get.

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But there’s a risk that the rate changes
and our installments rise.

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To my clients who want to
take out a mortgage loan

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and say that they have
7,000 USD of savings,

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and they want to allocate
the whole sum as their own contribution,

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I recommend them to leave a reserve
named financial cushion.

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The financial cushion is, for me,
a minimum of 6 times our fixed expenses,

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so that there’s something left
to repay our mortgage.

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Because a mortgage is a loan for
purchase of the property where we live.

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If we don’t have the money,
the bank will want to enforce its claim.

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– And it won’t be nice.
– I hope we never find out.

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Many people have such a problem
that they don’t have this solvency.

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Even if they have their own contribution.
They don’t earn much.

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What can they do to improve a solvency?

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First of all, count your current solvency.

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Come to me and we’ll find out,
if we can get a certain amount

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with our income.

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If not, the first thing
if you work on an employment contract,

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as most of my clients
do work on an employment contract,

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often it is for a fixed period,
but most people have

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the one for indefinite period,
which is a plus for a bank,

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however, a fixed period
doesn’t preclude taking a loan.

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So, don’t be afraid if you have
a fixed period employment contract –

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you can still get a credit.

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– You need to meet some requirements.
– But they’re clear.

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Yes, a bank has a specified requirements,
like, you’re employed for some time,

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you have a contract for a fixed period,
but if for 6 or 12 months,

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you can also get a credit.

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The same with economic activity –
3 months is not enough.

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You run it for one year?
You can apply for a mortgage loan.

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Back to how to improve solvency –
go to your boss.

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If you’re good at your job,
ask for a raise.

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– Even a temporary one.
– Yes.

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But it would be nice
if it remains unchanged.

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– So that our boss won’t change his mind.
– Yes.

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If you’re a good employee,
you do your job reliably,

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I think that if you have a cool boss,
you’ll get that raise.

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The second option is to change a job.

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Nowadays, we have
a market for the employees –

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there’s shortage of workers.

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If you change a job
and there will be a continuation,

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it’s enough that you work for a month
and you can apply for a credit.

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– It seems easy and uncomplicated.
– Right?

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The third thing – an additional job.

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Of course, it requires effort
and organization of your time,

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but if you’re an expert in some field,
you can take contracts of mandate.

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It’s also some form of extra income,
if it’s performed regularly.

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It can also be regarded by a bank
as a stable income.

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Third point – I often meet with
young married couples

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who are beginning their life journey.

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They want to buy an apartment
and don’t have a solvency.

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Parents can join this loan.

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That is, if we have parents
who also receive income,

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a bank will take into account their
income to calculate solvency.

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So, you can consider this option.

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Of course, we’d prefer
to take this loan ourselves,

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not to burden the parents,
because if they join our loan,

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they’re also the owners of this credit.

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They may interfere in
an apartment finishing.

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And that’s uncomfortable.

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But it’s still better than
renting an apartment.

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Probably yes.
But there’s such a possibility.

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In time, if we start earning more,
parents can recede from this credit.

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We just need to show
that we have a sufficient income

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and parents can recede from the loan.

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– So, that’s also some solution.
– Of course.

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So, we can act
according to the situation,

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as each of us has a different one.

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That’s right.

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But it’s possible to get a loan for
an apartment in a few months.

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Yes. The procedure of obtaining
a mortgage loan looks like this –

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the first meeting is about
checking your solvency,

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determining what we want, buying
apartment on primary or secondary market.

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As I mentioned,
there’s a difference in cost.

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We determine how big a credit we want.

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Many people don’t know that we can also
get a loan to finish the apartment.

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If we buy it from a developer
and it’s empty,

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there’s a radiator
and sometimes a front door,

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we can also take out a credit
to finish this apartment.

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If only our solvency allows,
we take a loan for the purchase

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plus for the finishing of
such an apartment.

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Also on a secondary market,
if we buy it from an owner

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and it’s not pleasing to us,
as we don’t like colors or a bathroom,

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we can also get a credit from a bank
for the renovation of this property.

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We just need to have a solvency.

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The first thing – determine a solvency
and what we want to buy,

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and we search for a property.

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I can also help my clients
find such a property.

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I work with many real estate agents,
I also have some contacts with developers.

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If you want, I can also help with it.

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I don’t deal with it myself,
as I don’t have that much time.

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After finding this property,
I inform my client

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what documents are necessary
to start the entire credit process.

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If we’ve already found the property,
signed a contract

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with the individual who sells us
the apartment or with the developer,

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we meet and fill out credit applications.

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I apply with my clients
mostly to 2 or 3 banks.

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Why are we doing this?
First of all, it doesn’t cost anything.

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We can submit up to 5 banks,
but it misses the point.

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– But we need to try.
– Yes.

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That’s used when
your solvency is questionable.

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We apply to so many banks
to have a peace of mind

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and for this transaction to succeed.

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The bank can refuse to issue a credit
without providing a reason.

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It’s better to have credit applications
submitted and let them process,

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as it takes sometimes 3 weeks
or even one and a half month,

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depending on a bank,
because if a given bank has a super offer,

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a lot of people apply for their loan
and this process can take more time.

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I can point out the bank
which will give credit quickly.

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So, if we have 3 banks, the first one
will give us a positive decision,

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then we have an inner peace
that we have one decision,

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but we wait for the remaining ones.

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If we have time,
because when we sign a contract,

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there’s a certain time to pay
a seller for this property.

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So, first of all – we have peace of mind
by submitting several requests.

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Sometimes a bank
allows for terms negotiations.

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Unfortunately, not in all of them.

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If a particular bank
has a really good offer,

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we’re no longer able
to negotiate anything there,

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as the bank has so many applications
that if someone is unsatisfied with terms,

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he or she doesn’t get a credit there.

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But there are banks in which
such negotiations be conducted.

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I can confirm this,
because a few months ago

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we submitted my applications to 2 banks.

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I had a big own contribution,
so I was sure of succeeding.

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One rejected without reason
and the other confirmed.

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If we had applied to only one bank,
we’d have had a problem.

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So, you should always try.

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Many people may be wondering
about the fact that

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they’re not married,
but they live together,

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having a girlfriend, a boyfriend,
fiancé or fiancée.

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Is it possible to get credit
for two people in such a case?

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Bank doesn’t care about marriage so much.

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First of all, these people must have
a solvency to take out this mortgage.

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Thus, if you’re not in
a formal relationship,

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you can both apply for a credit.

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– Solvency is calculated together?
– Of course.

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However, some banks
count it as 2 households.

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I know which banks to choose,
because if a bank counts it like that,

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it calculates bigger cost of living.

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So, it’s also important
when it comes to a solvency.

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– But we should try in various ways.
– Yes.

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Many people may be afraid of
going to a financial advisor,

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as they don’t know how does he work,
on what basis.

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They think of going to a bank,
ask and save money,

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as I don’t want to pay
a commission to him.

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Do you charge people for your help?

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My services to the client are
free of charge,

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so on the first or last meeting
I won’t issue you any invoice.

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I’m rewarded for the effect,
that is, if you apply for a mortgage loan

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and the credit will be paid,
I get a part of a pay from a bank.

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Maybe not directly,
but that’s how I’m rewarded

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by a financial institution for the effect.

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I don’t know if you’ve seen
the mortgage loan ads recently.

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Banks don’t advertise in media
anymore, as it’s expensive.

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They prefer to pay the agent.
That’s the cheapest way to get a customer.

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I just do the work of a bank employee.

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Bank already receives
a complete application to analyze.

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So, they reward me for my job.

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Client simply needs to
fill and sign an application,

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while the rest of the work
is being done by me.

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So, even if you don’t know how to start,
come to a meeting with me

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and I’ll explain everything
from the first meeting to the last one.

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There’s even no risk.

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You know, if you hold back
some information,

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like you had credits in the past
and didn’t pay them on time,

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and you don’t tell me,
you may not get this loan.

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However, there are some customers
who actually had bad credit history,

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but if it was a long time ago,
they still have a chance.

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There are banks
which will give you a mortgage loan.

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I’m with you from the first meeting
up until signing a credit contract.

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I’m present on contract signings,
as I think that

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the client feels more confident
when the advisor is with him

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from start to finish.

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I’m with client also up until
a loan disbursement.

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What’s more, I can help even after
granting a credit.

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Like with a property insurance,
which is required by the banks.

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And, above all,
I’m a supporter of a life insurance.

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Mortgage loans are not
a sum of 1,000 or 2,000 USD,

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but more than 50,000 USD.

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If there’s a marriage with children
and one person will be gone,

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then there’s a problem.

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So, I think that when
such an amount is at stake,

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we should obligatorily have
a life insurance.

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I also do this – so that you have
in one place information

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and activities related to it
which should be done.

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You don’t need to visit banks
and waste your time.

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Be welcome to visit me.

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– To sum up, all it takes is to act.
– And not be afraid. Do the first step.

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Many people are afraid of it.
One needs to make some effort,

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but he or she can do it
with the help of your expertise.

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Yes. Although banks often make changes.

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I have a constant access to info
about situation and current bank offers.

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00:26:36,120 –> 00:26:40,330
It often happens that
we submit the applications

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and some new offer appeares.

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So, we do it again.

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We did it, as lending rate changed,
so we wanted to economize on it.

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We changed the application.

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00:26:53,715 –> 00:26:57,443
I think that you won’t be able to
handle it yourself.

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I get such info on a regular basis
and if there’s a change

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in favor of my client,
I’m on his or her side.

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Even though I represent
over a dozen banks,

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I’m always on the client’s side.

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I want you to get the best credit
on the best terms,

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because if you’ll be properly served
and get a good credit,

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00:27:20,858 –> 00:27:24,457
then I hope
you will recommend me further –

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00:27:24,458 –> 00:27:27,057
that’s how this business works.

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00:27:27,058 –> 00:27:32,039
In other case, I wouldn’t be sitting
here and work in it for 11 years.

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00:27:32,040 –> 00:27:36,271
As a satisfied customer,
I can recommend you, Tomek.

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00:27:36,272 –> 00:27:39,643
– I hope you’ll use his services.
– Be welcome.

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The links for getting in touch
with him are below this video.

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00:27:44,800 –> 00:27:48,614
– Go for a meeting.
– For a fine cup of coffee.

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00:27:48,615 –> 00:27:52,129
You’ll find out
how your situation looks like.

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00:27:52,130 –> 00:27:56,629
Tomek will guide you step by step
through the entire process.

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If it will be possible to get
a mortgage loan, you will surely get one.

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00:28:01,760 –> 00:28:06,119
– That’s right.
– We ended our interview on a good note.

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00:28:06,120 –> 00:28:09,156
– Thanks a lot.
– Thank you too.

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00:28:09,157 –> 00:28:11,443
Maybe we’ll do more videos.

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00:28:11,444 –> 00:28:15,586
Write down your questions below.
Tomek will answer on them.

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00:28:15,587 –> 00:28:20,799
– I invite you to meet Tomek.
– I invite you to get a next loan, Tomek.

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00:28:20,800 –> 00:28:23,057
I’m sure there will be more.

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00:28:23,058 –> 00:28:25,843
– Thanks a lot.
– Thank you. Take care.

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00:28:25,844 –> 00:28:27,986
– Bye!
– Thanks again.