Why are you afraid of the mortgage?  Causes and solutions.

Why are you afraid of the mortgage? Causes and solutions.


Taking on and managing long-term financial commitments is a big fear and challenge for many. In particular, they are related to such notions as "mortgage lending". Even if that option is more financially efficient, many people choose to rent a home rather than investing in their own apartment.

So, in the material below developed by the maib education team and Mihaela Belous, resident psychiatrist, master's student in clinical psychology and psychotherapist in training, we will report why this uncontrollable fear of financial commitments appears and how it can be overcome.


Top reasons why you are afraid of a mortgage:

  1. Fear of the unknown. Often, the uncertainty related to the future can cause a state of unease, fear and anxiety. This occurs when people cannot accurately predict future outcomes. From a psychological perspective, that fear can be analyzed through the lens of uncertainty theory.

  2. Financial obligations and loss of flexibility. Regular payments can generate pressure and psychological discomfort especially when the financial situation is unstable or unpredictable. This feeling of financial pressure can be exacerbated by the fear of not being able to handle unforeseen changes, such as losing your job or incurring unexpected expenses.
    In addition to financial pressure, the fear of losing financial freedom can be another major obstacle. People may see long-term financial commitments as "chains" that restrict their decision-making and flexibility to choose a career, take advantage of unexpected opportunities, or quickly adapt to lifestyle changes.

  3. Fear of financial failure. People may face a great fear of not being able to meet their monthly payments. This fear is accentuated by the lack of possibility to collect extra money or to keep the libertine pace of life.

  4. Social pressure. Society and the current pace of life impose certain expectations, demands and pressures on people. All this can lead to the appearance of fear of long-term commitments and lack of confidence in one's own strength.


These concerns are often fueled by some myths about long-term financial commitments, such as:

  1. The myth that avoiding credit is the key to financial success. It is sometimes mistakenly believed that it is better to have no credit at all. But responsible credit management can actually help establish a positive credit history.

  2. The myth that a fixed rate is the only safe option. Many believe that only fixed rates are safe and any other type of credit is dangerous. But there are various options that can be advantageous depending on individual circumstances.

  1. The myth that a high income guarantees loan approval. There is a misconception that a high income always means a loan approval. In reality, credit history and repayment capacity are essential aspects in assessing eligibility for a loan.

  2. The myth that a loan is always a bad choice. In reality, credit can be a useful tool for achieving important financial goals, such as buying a house or a car.

  3. The myth that the interest rate is the only relevant cost. Many focus solely on the interest rate when considering a loan, ignoring other important costs such as loan closing fees or insurance costs.

  4. The myth that financial planning is only for specialists. In reality, anyone can benefit from understanding the basic principles of financial planning to make more informed and wise decisions.


Even though we have become accustomed to these reasons and myths, overcoming fears about financial commitments can be the key to a more fulfilled life and within reach of our goals.

Here are some tips that could help you with this aspect:

  1. Financial education matters. Understanding financial concepts such as interest, budgeting and debt management can give you more confidence in your financial capabilities and help reduce your fear.

  2. Set realistic goals. Defining clear, short-term financial goals can provide clear direction and motivate you to take on your financial responsibilities.

  3. Seek psychological and financial support. Consulting financial experts and psychologists can be very helpful. They can help you manage emotions related to financial matters and find more effective solutions.

Improving stress management skills and increasing confidence in your own abilities to manage financial situations can go a long way in reducing anxiety related to financial pressure. Financial education and open discussions about expectations and desires for financial freedom are effective ways to overcome these challenges and take a more balanced approach to long-term financial responsibilities.

If you feel ready to make long-term financial commitments to achieve your goals, or if you need advice, including from a financial expert, do not hesitate to request a consultation at any branchmaibor atthe mortgage centerof the bank.