Good Loan and Credit broker – how to recognize it?

If you are just starting out as a trader on the Loan and Credit market or even temporarily considering the concept of trading, cooperation with a broker will be extremely useful. This also involves some risk. Finding a Loan and Credit broker can be a troublesome task or even a challenge. You should ensure that the broker has a good reputation and can meet your expectations.

Why is a good broker an important issue?


Think about which company you would like to call if you had a problem with transactions. This question has a dual purpose. First, to make you aware of a reputable company that will honestly look at the issue that you feel has been hurt? Secondly – and probably more importantly – are its financial reports publicly available and is it regulated?

Both financial transparency and regulation are of paramount importance when it comes to what your broker should look like. Along with the increase in fluctuations in currency markets, we have witnessed under-capitalization of closing brokers. This can cause investors to be in serious trouble. If you understand the financial situation of your good broker you can know if he will be able to survive the coming storms and exchange rate volatility.

The process of choosing the right broker

The process of choosing the right broker

The brokerage industry is highly competitive due to the multitude of solutions enabling such activities to be launched. Not only because there are companies specializing in turnkey solutions for this industry, because even among them the competition is high. Choosing the right type of broker is a difficult task for a new investor, because there are various factors to consider.

These factors are associated with the organization of a good broker (ECN – Electronic Communication Network, STP – Straight Through Processing, dealing desk or non-dealing desk, etc.). However, these are the struggles of the broker himself, but what about the things that retail investors need to know before deciding to use the services of a broker? What are the conditions for a broker to be good and what would it mean perfect?

What should be considered?

From the retail investor’s point of view, choosing a good Loan and Credit broker should be a simple process. Because of the multitude of brokerage houses that can be found in a simple google search, traders will spend a lot of time searching. This time can be shortened if decision-making factors are divided according to category. To make your life easier, you need to consider the following two categories of factors.

The assumption is that the first category will check all Loan and Credit brokerage offices and only those that pass this category will be filtered further. In this way, the process of choosing the right broker does not require much time. Ultimately, you’ll only have to choose a few brokers.

Mortgage documents – check the current list!

Applying for a mortgage is a lengthy and demanding process. Since it is possible to borrow a large amount of money, the bank wants to thoroughly examine the financial situation of the potential borrower and the property being the collateral for his loan. Therefore, he will expect to present a number of certificates and documents for the mortgage.

What affects the type of documents required for a mortgage?

What affects the type of documents required for a mortgage?

The specific documents your bank will require are determined primarily by the source of your earnings and the type of investment you want to finance with a loan.

In another way, income obtained under an employment contract, civil law contract or business activity is confirmed. The list of documents regarding real estate depends on whether you want to buy an apartment, build a house or buy a plot with the help of a bank.

What does the completion of documents for a mortgage look like?

What does the completion of documents for a mortgage look like?

Collecting all necessary mortgage documents can take about a week. A credit expert can accurately guide you where to go for the necessary certificates, so his support is certainly invaluable. Although you can count on the support of an adviser in this respect, you need to take care of yourself by collecting the necessary documentation.

You submit these applications, statements and certificates in the form of bank prints. However, everything you don’t get to fill out from an adviser can be a copy. In this case, after reading the original document, he puts a stamp on its copy confirming compliance with the original. Such documentation is sufficient for the bank.

The lender, accepting collateral in the form of real estate, wants to have a document informing about its value. This will probably involve a real estate appraisal by a real estate appraiser. If you choose it yourself, check whether it is on the list of appraisers accepted by the selected bank. Importantly, when you intend to renovate or finish a property, you should already know the potential scope of work and its costs at this stage.

Mortgage documents confirming the source of income

An indefinite and timely employment contract

  • Employment and income certificate prepared on a bank print.
  • Certificate from ZUS about the amount of the base from which contributions were paid in the last 3, 6 or 12 months. If you are paid in cash, you will need RMUA printing for the same period.
  • Full bank statement for which you receive remuneration. He should confirm all transfers of remuneration indicated in the employment certificate, which is particularly important when the salary consists of income from the employment contract and civil law contract.
  • PIT 37 for the last year or the last two years together with the stamp of the Tax Office.
  • Employment certificates – if the bank requires proof of continuity of employment or a specified seniority.
  • Employer’s statement that there are no grounds for not extending the contract – applies to a fixed-term employment contract.
  • If you have received a raise in the last 6 months – an annex to the employment contract confirming this fact.