Can we buy back credit with another bank?

The grouping of loans can be set up by any financial organization, its setting up is done independently of its own bank.

Repurchase of loans elsewhere, in another bank

Repurchase of loans elsewhere, in another bank

The repurchase of credits is a banking operation which makes it possible to group several loans into only one, which involves an extension of the duration and a reduction of monthly payment. This financing does not force the borrower to change his direct debit and he is not obliged to ask his bank to obtain a reduction in his monthly payments.

Thus, the borrower is completely free to resort to the financial organization which it wishes to obtain the best offer of repurchase of credits, whether it is a bank, a banking intermediary or a credit institution directly.

Credit repurchase: bank, intermediary or credit institution?

Credit repurchase: bank, intermediary or credit institution?

Few borrowers know this, but there are indeed three types of structures allowing them to group their loans and therefore reduce their monthly payments :

  • The bank
  • The banking intermediary (or more often called a “broker”)
  • The credit institution

The bank

The bank is based on its own funds, it will define its commercial strategy and therefore propose or not the repurchase of credits. In some small agencies, clients will not find loan buy-back offers because advisers are not trained to offer this financing. In large agencies, they favor the best files and make a selection of requests.

The banking intermediary

The BIO or broker is a specialized body. Some only offer loan repurchase and have mandates with specialized credit institutions, which allows the borrower to benefit from the best offers without changing banks.

The more production the broker or intermediary achieves, the more attractive conditions and therefore advantageous offers for the borrower, it is a channel to be taken seriously because good solutions are possible.

Credit institutions

These structures are in fact subsidiaries of large banking networks only specialized in the financing of loan buy-back projects. Most do not deal with the client directly but study requests on a complete file, so you have to go through a broker or bank intermediary.

That said, we have seen in recent years that more and more establishments are opening their doors to borrowers, customer service may not be ideal but it is possible to save on costs.

Consolidate your loans: choose another bank

Consolidate your loans: choose another bank

The loan buyback simulator allows you to quickly find out if the loan buyback project is feasible. He will probe several financial organizations before offering a free estimate of the new reduced monthly payment. This process is completely free and without obligation. Just complete the form and validate it, the result is quick.

Cash loan: these questions you should ask yourself before you get into debt + print credit tree

Anticipating your questions: this is how I have repaid my loan in my life. Probably four years ago my laptop broke down (quite unexpectedly, he was only 5 years old: P), my basic work tool, and every day I had to buy new equipment.

I was fresh after university, I didn’t have any savings – a situation near the gate. I thought so then … Then it turned out that my grandmother could lend me the money. This business of life cost me an additional USD 500.

When taking a loan is the only way out


However, I know that there are situations when taking a loan is the only way out: someone breaks the washing machine or fridge and there are no savings or someone who can borrow on interest-free installments. Yes, there are situations when taking a loan is a good decision.

However, if I read that 35 percent. society is considering taking credit for holidays and gifts, I will not say what I think about it as a courtesy. If for 12 months you didn’t manage to put aside a zloty for this purpose, will you be able to repay the loan for another 12?

Maybe just instead of gifts for USD 200, get yourself a gift for USD 20? Once and for all, change the “pawn and put yourself” principle to “I don’t have, I don’t buy” and make credit decisions wisely.

There is no urgent need, no credit


From my own experience (buying a laptop in installments) I know that we can regret it too quickly and ill-considered.

For 12 months, when I repaid installments for my equipment, I was stressed if I could dress the amount I needed on time, whether I would not forget or be late with the transfer … I felt very bad about it, so to develop self-restraint.

When making credit decisions, I wrote myself a set of questions that I always ask myself when I think I should take a loan. Here they are:

1. Is this money really necessary for me?

Necessity or whim? Admit that sometimes you think about buying a new phone for credit, although the one you have is doing very well. I also sometimes have such ideas, but I deal with them quickly and I advise you as well. If that’s why you’re going to the bank’s website now, then it’s better to shut down your computer quickly and go for a walk. Fresh air will do you good …

2. Maybe I can take an interest-free loan from a loved one?

Think about whether someone close can not give you the amount you need. I did not use this option when buying a laptop, and it cost me an additional USD 500. Needless to say, it would have been a lot of money for me, if it wasn’t so, I would have bought a laptop for cash. I don’t make that mistake anymore.

3. Will I be able to repay this loan?

The urgency is urgent, and none of your relatives can lend you money – this is a sub-gate situation. Remember, however, that even the most favorable loan will not solve your problem, if you are unable to pay back the installments incurred and you have to pay back at least 120 percent. what you borrowed. The bank will ask for money.

4. Maybe I can postpone the purchase and collect the money myself?

Maybe you can postpone your purchase and collect the amount you need? You have nothing to save from?

Maybe it’s time to reduce your expenses a bit, think about changing jobs or additional earnings? If anyone ever asked me such questions, I would have gilded him.

Credit Decision Tree


The above questions are credit must-have. To make it easier for you to make a wise and thought-out credit decision, I have prepared for you aboard with a credit decision tree.

You will find these questions there. I always use it when I think that I want to take a loan and I encourage you to do so. It’s best to print it and hang it in a visible place, e.g. on a corkboard or fridge.

However, if you have already reached the last question on my board, then probably taking a loan is the only right solution for you.

Just remember to carefully compare offers (comparison websites will be helpful), and then read the contract carefully before signing. If you have any doubts, ask a bank adviser or write to me. Good luck!

What is credit check?

All credit granting is preceded by a credit examination. The purpose of this is to analyze the solvency and the credibility of the interested loan taker. This will ensure that you are able to honor the chosen credit. Find out here how exactly granting credit works and how it protects your interests.

Part One: Credit Check

Part One: Credit Check

The purpose of the credit check is to determine whether the potential borrower is financially able to repay the credit. It is therefore not only of particular interest to know if the client earns enough each month, but also if he has, after spending on rent, food, taxes, car, etc., enough money to pay the monthly payments. The lender establishes, on the basis of information provided by the borrower, a personal monthly budget whose borrower confirms the accuracy of the different positions by his signature.

Part Two: Credibility Review

The purpose of the credibility test is to know whether the customer is likely to repay a loan. It aims to reduce the risk of payment default. In addition to certain risk factors, the customer’s payment behavior is also examined. In this context, credit institutions request information from the prosecution offices and other services such as the central credit information service (ZEK).

ZEK: the essential link

The Central Credit Information Service (ZEK) is an information service for the credit and leasing sector. It records information about the loan takers (e.g. name, date of birth, marital status), as well as information about people who have already applied for or obtained credit. Only member companies of the ZEK have access to this information. On, under “Personal data”, you can check whether information about you is stored and what type of information it is.

What happens if I fail the credit test?

What happens if I fail the credit test?

If you fail the credit test, you will not be given the credit you want. This can protect you from possible over-indebtedness. Any credit refused is registered with the ZEK, and this information is accessible for two years to all affiliated credit institutions. However, all industry experts know that a credit check is a point in life. Your personal situation can change, as can your creditworthiness and credibility.

Long-term credit buy-back: how long?


Reduce your monthly payments by opting for a loan repurchase over the long term, that is to say over a longer term and more suited to the needs of the borrower.

Credit repurchase, long-term spreading

Credit repurchase, long-term spreading

In the context of a loan repurchase, it is sometimes necessary for a borrower to choose the duration of repayment and the idea of ‚Äč‚Äčthis operation is quite simply to allow a borrower to leave on a healthier, more stable and durable. The repurchase of loans thus makes it possible to redeem several credits (consumption and real estate) and to restore standard repayment terms, that is to say a longer duration, a single rate and a monthly payment which becomes reduced.

Several reasons can push borrowers to consolidate their loans, the first being to rebalance the budget to better cope with financial contingencies, one of the reasons that recurs regularly is the need to simplify the management of credits by benefiting from a single withdrawal rather than many. Finally, the third reason is the preparation of a project to finance, that is to say to group the credits and add a loan amount to finance in the credit contract.

Long-term: financing needs

Long-term: financing needs

The financing needs in terms of credit consolidation are systematically different, that is to say that each request for loan repurchase is unique. If for some the negotiation of a rate is the only objective, in particular within the framework of the repurchase of mortgage, for others it is rather the spreading of the duration over the long term, one speaks then of durations of 25 years, 30 years or 35 years reimbursement.

Each financing request is therefore unique and requires an in-depth study. This essentially involves a simulation of loan repurchase which provides a first estimate of the reduction in monthly payments and the rates offered. The study is also fundamental since it is a financial advisor who will analyze the borrower’s situation in complete confidentiality and propose repayment offers, taking into account in particular his needs regarding a long-term repayment.

Simulate a long-term loan buy-back

Simulate a long-term loan buy-backSimulate a long-term loan buy-back

If you have at least one current loan to buy back or several, it is possible to request the credit grouping simulator, it allows you to file a request specifying the amount of your credits to buy back but also the current monthly payments and the possible need to finance as a new project. The simulation will make it possible to obtain an overview of the offers proposed over the various possible durations, the maximum duration in the repurchase of credits is 35 years, certain credit institutions specialized in mortgage financing have offers of repurchases of loans to measure long-term needs. It is worth remembering that the simulation is offered free of charge and without any commitment constraints.

The Best Credit Repurchase Rates: Where Are They?

This is the question that comes up most regularly among households wishing to redeem their loans, where are the best rates? Who offers them? We answer you.

Credit repurchase: the best rate

Credit repurchase: the best rate

Contrary to what you might think, the best rates are not necessarily with banks or large brands. In repurchase of credit, there are two solutions to obtain an offer, either to pass by a traditional bank which applies its own policy, agency by agency, or to pass by an intermediary of bank type broker or agent.

In some cases and in some regions, the bank will be unbeatable, in others, it will be the broker, but why is it so difficult to find the best rate? Simply because each entity has a goal. For example, some banks will offer the best credit repurchase rate because they will be able to obtain bank direct debit, this means the possibility of repatriating the savings books and being able to offer new products, that is to say the guarantee of having an active customer and interesting.

“The best rates are everywhere, at the banks which hope to repatriate the direct debit, at the broker who must offer repurchase of credit in mass and at the insurances which can catch up on the cover of the repurchase of credit”

In other structures such as bank intermediaries, the policy will be to buy back credit in quantity, with the aim of obtaining larger mandates (remuneration) than with a lower quantity but higher rates. In other cases such as insurance companies that have embarked on loan repurchase, their objective will be to “catch up” on insurance, a product or the remuneration may be important.

Depending on the structure, the rates may vary more or less strongly.

Get the best loan repayment rate now

Get the best loan repayment rate now

Online simulation remains the best way currently to get offers to buy credit at the best rates, it is also possible to get three offers now. Simply complete the form and then validate it, the results are quickly communicated.

In terms of rates, it is advisable to compare the APR according to the lender and the amount granted because in certain cases, the lender can add an amount dedicated to a new project. In the same case, it is advisable to compare the insurance, knowing that this cover can be negotiated or concluded with another establishment.

Interest relief on mortgage in 2020 – who is entitled and how to calculate it?

From January to the end of April there is a period in Poland for tax settlements PIT and CIT. Therefore, millions of Poles settle the tax with respect to personal income tax or corporate income tax.

They can take advantage of numerous tax optimization concessions. If they have a mortgage, they can take advantage of the interest relief once they meet the additional requirements. What is How to use it in your annual tax return?

What is the interest relief?


The catalog of tax breaks lists the tax breaks and preferences that the taxpayer can use for settlements with the tax office due to income tax. One of them is interest relief. What is this? This is a tax relief used for settlements of individuals due to annual income tax.

It gives the taxpayer entitled to such relief the deduction of interest on the granted housing or mortgage loan. This is an interest relief for people who pay off a mortgage and incur costs of interest that are the subject of a tax deduction from income or income obtained in a given tax year.

The taxpayer deducts only interest paid, not interest payable and unpaid. In addition, the deduction is limited to a certain amount.

Refinancing loan and interest relief

The interest relief is applicable to housing mortgages taken from a bank or from a cooperative savings and credit union.

Not only interest on the original loan, but also interest in refinancing loans will be deductible.

Interest relief – regulating act

The interest relief is deducted by Polish tax residents on the basis of art. 26b of the Act of July 26, 1991, on personal income tax. Therefore, for the interest relief, the legal basis is the PIT Act, but in the version binding until the end of 2006.

In the current Act on personal income tax, you can look for regulations on interest relief in vain. It is worth emphasizing that taxpayers are entitled to interest relief on the basis of rights acquired no longer than until 2027.

Terms and conditions for counting down the statutory discount


Some taxpayers who have taken out a home loan have the right to have their income or income from taxed sources reduced by the cost of interest under the interest relief. The rules for deducting such relief have been mentioned in an earlier tax act. The interest relief is granted to the taxpayer under the following conditions:

  • he must be subject to unlimited tax liability in Poland;
  • the loan or loan was granted between January 1, 2002, and December 31, 2006, by a bank or cooperative savings bank (SKO);
  • in the case of an investment relating to a building or a dwelling, the relief shall apply if the construction was completed not earlier than in 2002;
  • in the case of construction, superstructure or extension of a building for residential purposes, the relief will be due if the investment was completed before the expiry of three years from the end of the calendar year in which, in accordance with the construction law, the investor obtained the building permit or the permit for the use specified in the provisions of the construction law apartment building;
  • in the case of a contribution to a housing cooperative or the purchase of a newly built residential building or a dwelling – the discount will apply if a contract has been concluded to establish cooperative ownership or tenant’s right to a dwelling or a contract in the form of a notarial deed to establish separate ownership of the dwelling, to transfer on the taxpayer of the ownership of a residential building or dwelling, one of which will be the taxpayer entitled to the discount;
  • interest has already been paid, and the amount and date of payment have been documented in an appropriate manner – proof issued by the lender;
  • interest cannot be included in tax costs (tax-deductible costs) or reimbursed to the taxpayer in any other form unless the interest refunded has increased the tax base;
  • the taxpayer or the spouse of the taxpayer could not benefit from the income (income) or tax deduction of expenses incurred for their own housing purposes.

The condition for taking advantage of the interest relief in PIT is taking a loan by a taxpayer to meet his own housing needs. However, this taxpayer did not have to be registered in the acquired property nor did he have to live in it, but at the time of taking the loan, he should intend to live in the premises purchased for the loan.

Interestingly, the sale of the property, the purchase of which was financed with a bank loan, does not result in the loss of the right to take advantage of the relief in the following years, but the basic condition here is further repayment of the loan.

Many taxpayers are wondering not only whether they are entitled to an interest relief, but also what PIT should be submitted to the tax office in the case of this relief. Well, the deduction of the amount of interest relief is made in the annual tax returns submitted by taxpayers: PIT-37, PIT-36 or in PIT-28 and in Annex PIT / D.

What interest cannot be deducted?

What interest cannot be deducted?

It is not possible to deduct credit interest under the taxpayer’s personal tax relief if:

  • we’re not actually paid,
  • the amount and date of payment of interest are not documented by proof issued by the entity granting the loan,
  • were included in tax-deductible costs,
  • have been returned to the taxpayer in any form,
  • were deducted from revenues under the Lump-sum Act.

In addition, it is not possible to deduct, as part of the interest relief, interest on loans:

  • granted from the National Housing Fund,
  • granted by housing associations,
  • granted to remove the effects of floods,
  • covered by interest redemption from state budget funds,
  • used for the purchase of land or perpetual usufruct right to land,
  • contracted under the terms of the Act of September 8, 2006, on financial support for families in purchasing their own apartment.

Credit extortion and criminal liability

Taking an online cash loan is a complex process that does not end with completing the form online. It is also necessary to prevail to present a certificate of our earnings or conduct a telephone conversation with a consultant, and even carry out a verification transfer.

This issue looks a bit different in the case of online loans, e.g. popular payday loans, which do not require so many formalities to be granted. In most cases, you will only need your ID card, and this may already create more space for cheaters.

Credit extortion and criminal liability


What is the risk of extortion? This question cannot be answered with one sentence. Why? In Polish law, the situation of extortion of a loan or credit can be interpreted in two ways.

The fine for extorting a loan depends on whether it is classified as credit fraud or ordinary fraud. What’s more, one crime can be classified under both these acts, which means that the perpetrator will be convicted of an offense for which worse sanctions are provided.

We’ll take a closer look at the consequences of extorting a loan. In the case of credit fraud, the accused is punished by imprisonment from 3 months to 5 years. For ordinary fraud, the court may impose a prison sentence of 6 months to 8 years.

It is also possible to issue a suspended sentence for extortion, however, in this case, certain circumstances must occur, e.g. the guilty person should not be punished so far. Although the fine for extorting credit is very high, there are plenty of people trying to commit this type of crime.

What to do if you have been a victim of a phishing loan?

What to do if you have been a victim of a phishing loan?

What should I do if there was a phishing scam on my personal data? In this situation, you must act quickly, because time is to your disadvantage. If you lost your ID card and it turned out that you have been a victim of a phishing loan, you must write because the bank will appeal in which you describe what happened.

The case will be referred to court and you will receive information about the day of the trial to which you must report. At the same time, it is worth submitting a notification of a crime to the prosecutor’s office.

Unfortunately, it may take some time for your innocence to be proven, which means you will have to pay back the loan installments. Do not worry, however, after the sentence, you will get all the money back.

How to defend yourself against credit scams?


Are you wondering how to protect yourself against credit fraud? All you need to do is follow some tips.

  • Try to get in the habit of checking at least once a day if you have an ID card or other ID document with you. If you notice that it is missing, you should immediately reserve it.
  • Protect your documents while traveling, especially in crowded places, including airport or public transport.
  • Be extremely careful on the web, do not go to pages with a suspicious appearance, especially when the anti-virus recommends avoiding them. If you have to enter too much personal data in the form, a red light should light up for you.
  • Set up a secure login to your bank account via the internet, e.g. by using a code sent by SMS to take care of online transfers.
  • Use the so-called Credit Checker alerts. You can purchase this type of service at the Credit Information Bureau for USD 19 a year. It helps to defend against phishing because it notifies you by SMS of every attempt to incur a commitment to consumer data.

Where to report a phishing loan? If there is a fraud, report it to the police and the bank.

You can check the credibility of the website owner based on the SSL certificate. It takes the form of a green padlock visible on the left next to the website address.


Real estate loan buy-back: after how long?



The question is simple: after how long can you get a mortgage buyout? Here is our response.

Credit repurchase: how long on average?

Credit repurchase: how long on average?

There are no official statistics on the deadlines concerning the progress of a credit consolidation operation. Simply put, we find within banks and intermediaries in banking operations that we can obtain a repurchase of its credits as quickly as 11 days (repurchase of consumer loans without guarantee) and at most after 101 days (repurchase mortgage loan).

The presence of a guarantee is important since it significantly lengthens the time for setting up loan repurchases.

Home loan redemption: after how long then?

Home loan redemption: after how long then?

We can estimate an average delay of 30 days to obtain a buyout of a mortgage, this delay takes into account:

  • The fulfillment of the request by the client
  • Consideration of the request by the organization
  • The study of the request by the organization
  • Sending of supporting documents by the client
  • Receipt of supporting documents by the organization
  • Sending to a bank or a decision by the organization
  • The deadline for consultation on the final decision
  • Editing of the loan offer by the organization
  • Sending the loan offer to the client
  • The signing of the loan offer by the client
  • The return of the loan offer to the organization
  • The legal reflection period (14 days)
  • The period between the reimbursement of former creditors and the release of funds

The more reactive the two parties are on this journey, the shorter the delay. The point that takes the most time is the sending of the necessary supporting documents by the client, if the latter returns all the documents within 2 to 3 days, the funding will be faster.

Online simulation: save time!

Online simulation: save time!

Internet saves a lot of time in administrative procedures, in purchases or in the declaration of taxes (for example). It is the same for the repurchase of credits. Online simulation saves time in the process and avoids traveling. You just need to fill in their information and then confirm the entry, you will quickly receive your first estimates by e-mail or post as you choose.