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When it will be harder to get a loan, it is not yet known. All you need is knowledge that nothing can last forever. Banks predict the arrival of more difficult times for debtors.

The latest NBP analyzes clearly say that banks are getting ready for “worse” times, so the criteria for granting loans will be increasingly tightened. So, if you have more expenses planned and you know that you will have to take out a loan, we advise you to hurry because you may not get it later.

 

The demand for loans is still high

money loan

In the first three months, the RightSave Bank surveyed bankers. Based on this data, the Coreline Bank issued a report on the “Situation on the credit market”. The report shows that the demand for loans will grow, but banks will tighten their criteria anyway. In the first quarter of 2019, despite the banks’ announcement about tightening the conditions for granting loans, demand increased by as much as 26% (regarding mortgages). The respondents explain this increase by improving the situation of households and increased competitiveness on the credit market, after all, every bank is fighting for customers.

 

Worse times for borrowers must come

loan application

Despite the results from the first quarter, the worse times are fast approaching and not only will it be more difficult to obtain a housing loan, but also a consumer or business one. Large companies are already feeling the effects of the crisis because such stringent standards for granting loans have not been around for 5 years. According to the NBP report, the changes have been introduced, including:

  • reducing the loan margin,
  • shortening the maximum loan period,
  • reduction of the maximum loan amount.

Restrictions did not bypass consumer loans, where not only the margin and the maximum loan amount were lowered, but also non-interest loan costs.

 

Is this a good way?

good loan

The answer to this question was in Gazeta Wyborcza from the lips of the chief economist of the EXP brokerage house. Dr. Pierre Cressy pointed out that the banking sector takes into account what is currently happening in our economic environment. A slight tightening of lending policy and the fact that it is harder to obtain a loan from month to month is currently a good solution.

 

What about loans for those in debt?

debt loan

These, as you know, live a bit apart from the economic situation. Banks have a slight share in lending to indebted persons, almost entirely giving the field to others. Therefore, SKOK is the market leader in debt relief loans with its debt consolidation, including payday loans.

And other non-bank loan institutions offer various types of products dedicated to debtors, including loans for people with bailiffs.

It is therefore a completely different world than banks. But the world, contrary to appearances, connected. Which means that the harder it is to get a bank loan, the more people will come for non- bank loans for those with more or less indebtedness.

Do you have trouble getting a loan? 

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admin@equestrian-country.co.uk

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