A loan agreement is a written document in which the borrower agrees to repay the money borrowed, including interest and related fees, to the bank or non-bank financial company on a specified date. In the case of a consumer home loan, a mortgage loan agreement is concluded.
Particulars of the loan agreement
The loan agreement describes in detail all the rights and obligations of the parties. This document must, for example, specify the type of consumer credit, the identification and contact details of both parties, the duration of the consumer credit, its total amount and the conditions for drawing it down. The credit agreement shall also specify the total amount of the credit, the borrowing rate, the value of the RPSN and the specific amount, number and frequency of payments.

The contract also specifies the fees
The loan agreement also specifies any fees arising from the agreement, any costs for notary services or other similar costs, the method of security (e.g. in the case of a mortgage, by pledging the property) and information on any insurance for the loan. Before signing the contract, each prospective borrower should also enquire about the possible method and conditions for early repayment of the loan and the costs involved.