Kupnja stana is for most of us the biggest investment in our life which makes it very stressful and exposes it to many challenges. If you decide to finance part or the entire investment with a loan, the process becomes even more complex. Different bank offers, necessary documentation, deadlines, and often unknown terminology for many can represent a real nightmare. Do you know that the activity of credit mediation in the Republic of Croatia has been regulated since 2009? Therefore, it is surprisingly few people who know about the credit mediation service that offers, as dedicated professionals, support throughout the entire property purchase process on credit. And to make things sound even more unreal, the service offered to clients is completely free, since intermediaries receive their remuneration from the bank in which the client realizes the loan.

What actually makes up the credit mediation service?

Above all, the credit mediator will free you from the need to personally visit outlets of different banks and waste time over and over again explaining to you which needs you have, how much savings you have, what existing credit obligations you have, what is your income, etc. He will make you an informative credit capacity calculation, the maximum credit amount and the monthly payment amount. Next, he will clarify the comparable offer of several banks in one place, tailored specifically to your needs and possibilities. He will also explain to you all that may be unknown to you, from the difference between rates and annuities, what is the effective interest rate and why it is important, to some differences in bank offers that most people do not notice or do not understand. He will also introduce you to the necessary steps and costs related to the realization of the loan, so that you can more easily compare the different conditions of the banks. When you choose a bank and a credit, the credit mediator will help you prepare the credit documentation and fill out the credit application, which will make the realization of the loan easier and faster, and the number of visits to the bank will be reduced to a minimum.

Who is a credit mediator?

A credit mediator is a limited liability company (a legal entity) that has a license to provide credit mediation services and has a contract of mediation with at least one or several banks. It is essential to note that for the provision of credit mediation services in consumer mortgage lending, the permission is issued by the Croatian National Bank, and here is a link to the register of all credit mediators in Croatia. For consumer credit, the permission to provide credit mediation services is issued by the Ministry of Finance of the Republic of Croatia. On the Croatian market, most credit mediators have both licenses. If you still want to carry out the entire process yourself, here are a few recommendations on what to pay attention to: • compare the conditions of several banks (e.g. nominal and effective interest rate, reference interest rate, type of interest rate - fixed, variable or combined, loan repayment term…) • learn all the conditions of the credit, until the end of the loan repayment period (e.g. possibility of early loan repayment, possibility of changing the loan repayment term…) • ask for clarification of banking terms (e.g. intercalary interest) • do not make a decision on choosing a credit based on the initial interest rate. It is essential to inform yourself and consider all the conditions of financing. Only in this way can you properly choose what is best for you. Author of the column: Martina Mataić Škugor Taken from: https://tockanai.hr/

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