The “loan at customer’s home” service was created for consumers who do not have a bank account or do not want to use it when applying for financial support.
What does the home loan service look like?
As the name implies, it involves delivering money from a previously approved loan application directly to the borrower’s place of residence. The transaction is carried out by a specially prepared employee of a given non-bank institution, and of course the cash is transferred.
It is up to the lender to decide on the inference method. Despite the home loan offer, some companies require you to complete an online form, while others allow you to complete formalities during an advisor’s visit.
If the application submitted by us is considered positively, the lender will contact us in order to agree on the appropriate time of delivery. In this way, lenders provide access to the offer not only to those who do not have an account, but also to people with disabilities who have problems with personal intercession in a stationary facility. It is worth noting that depending on the company’s arrangements, it is possible to complete all formalities during the consultant’s visit or it is necessary to submit an online application first. There are several problems here. Before we decide to use this type of service, we should become familiar with them.
Unfortunately, most companies providing their online services do not introduce an alternative solution for people who do not have a thorough knowledge of computer skills. Even if we find an offer with the possibility of home service, in many cases it will still be necessary to complete the electronic form. It is worth noting again that before we arrange a visit of an employee of a financial institution in our home, in most companies we must first submit an application via the Internet. You may be able to bypass the need to provide your bank account number by verifying your identity card by picking up your money. However, in the application we will also be asked to provide contact details, such as an email address, for example. It can not be hidden that for many people it will be an insurmountable obstacle. Help in a more experienced Internet user may be a salvation in such situations. However, it’s not easy to be dependent on another person.
There are fewer and fewer lenders offering money to the client’s home. This is influenced not only by the development of technology, but also by the opportunity to reduce costs due to the reduction in the number of employees. However, we will still find companies that provide their customers with this solution for an additional fee . At this point, the question may arise as it is possible, since you can find posters, leaflets or announcements informing about a home loan at every step. That’s right, however, you should be very careful when selecting offers, because you can simply come across cheaters. We must be aware that the support provided by private individuals is not subject to the provisions of the Consumer Credit Act and the creditor is given a lot of freedom in creating the terms of the contract. Unfortunately, most of the advertisements on the poles relate to this type of offer.
Before we decide on a specific company offering a quick loan product at the customer’s home, we better check exactly what its existing customers think about it.
Therefore, the best way to find a suitable and credible offer are proven places, such as the Loan-Portal comparison site. We find here all the most important information about each lender worth recommending. However, if the company does not meet the standards of customer service, other users immediately report it in the comments placed under the opinions of experts. Each customer also has the opportunity to vote for the selected company, which in turn also affects the created rankings.
Home loans – how to get?
As we have already mentioned, very often home loan companies expect customers to submit an application electronically. Undoubtedly, this has its pros and cons. We save not only time but also money. We will be required to pay the fee due for each advisor’s visit to our place of residence. Its amount depends on the company’s decision. By completing the application with the help of a consultant, even if you decline, you will have to pay for the work done by him. We also remember that loans to the client’s home also provide for the possibility of submitting an application by phone. During the conversation with the adviser, we provide all necessary information and then wait for the decision. In some cases, we can hear initial approval during the application process.
Most of us assume that a home loan involves all formalities at home. Therefore, in order not to meet with an unpleasant surprise, you should carefully check all information about the terms of the loan. If it is necessary to apply online, we must be prepared to go through the following stages:
- Going to the lender’s website and then selecting the loan period and the amount needed using the “calculator”. You can usually do this by moving the sliders or selecting the appropriate values from the drop-down list.
- We make sure that a quick home loan does not exceed our financial capabilities. Under the calculator we will find costs. Then press “Take a loan” or “Apply”. In this way we will be redirected to the subpage containing the form.
- Now we need to complete all necessary information. Enter the appropriate personal, contact, address and information about our financial situation in the empty fields. It is worth remembering to prepare your ID card, because you will need to enter its number and series. In the same form, we also indicate the method of delivery of the loan.
- After entering all the information and checking its correctness, we usually proceed to identity verification. However, a loan to a customer’s home usually involves checking data by presenting an ID card during the consultant’s visit. Nevertheless, you should expect a phone call from the lender to provide the decision and arrange a meeting with the consultant.
- During the meeting, the consultant will check our identity and then ask you to sign the documents. Read the terms of the contract carefully so that nothing will surprise you later. After completing these formalities we will receive the requested loan. Remember that the repayment assumes the next visit of the consultant to collect the money.
Convenience, but additional costs
Certainly a home loan is a very convenient way to get the money you need. However, we must know that companies that provide this type of financial support treat transfer of money as an additional service. What does this involve? Lenders add additional fees for delivering cash to the customer’s home. Therefore, before we choose this form of cash collection (we indicate this when submitting the online application), we should check carefully in the conditions available on the lender’s website how much a particular service costs.
On average, an institution employee visit is 20% more expensive when it comes to borrowing costs. Taking these data into account, it turns out that when using the home loan service, we have to take into account the additional cost of granting the loan in the range from several dozen zlotys to even several hundred; it all depends on the amounts we apply for. Therefore, let’s think about choosing a loan that the employee will provide us with a home. In addition, remember that when installments are collected in person, an additional fee will also be charged.
Home loan – nobody will take care of us
The advantage of this type of solution will be the fact that the bailiff will not take us cash, because they will not go to your bank account. Having cash, we can spend it on trying to get out of debt. Of course, the choice is ours. At this point, however, we must inform you of a very important thing.
If we take out a “loan at home” and we are unable to pay it back on time, it is worth reporting the insolvency in advance and trying to arrange a different date. If an employee does not find us at home on the agreed date of visit, companies may charge additional fees. First of all, let’s carefully read all the contracts, check the opinions about the lender. In this matter, the Loan-Portal remains at your disposal.
Provident is one of the companies that makes it possible to apply for a home loan. In this situation, the liability is repaid in the form of weekly installments. However, when choosing a loan period it is worth paying attention to the relationship that the longer the repayment period, the higher the fees. This involves collecting money personally by a company representative. The amount we can receive ranges from PLN 300 to 15,000. The repayment time is 30, 35, 60, 75 or 90 weeks. Let’s compare costs for PLN 5,000 with specific loan repayment dates. It is worth noting that a 60-, 75- and 90-week repayment period is available for this amount.