Many associate mortgage lending with young families with a child. But those who make up a mortgage without children or without a spouse (spouse) no less.
Therefore, regardless of marital status, you need to know the main aspects of the mortgage design in order to understand that this type of real estate acquisition is.
Mortgage is called the acquisition of housing for the means of the bank, followed by their return. In other words, you buy housing on credit, and your property becomes a key to the lender — this is one of the main requirements when concluding a mortgage agreement.
The deposit in this case is necessary, as a guarantee of the fulfillment of obligations under the loan agreement in full.
The lack of the initial contribution is not the cause of refusal to buy housing, simply in such a situation, the interest rate will be higher by 1-2%. And we know that the higher the interest rate, the more overpayment of the jar.
When making a mortgage, your apartment, a house, a land plot remains pledged by the Bank until the end of the end of the credit and mortgage agreement. But at the same time you can safely use the object of real estate, since according to the documents you are a full owner.
Only here the right of ownership implies restrictions on the actions with housing. So you are not entitled to sell housing or give it. In addition, make redevelopment without permission of the lender.
More and more banks insist on several types of insurance at the conclusion of the mortgage. The essence of the insurance of the pledget is that you are insure your real estate from unforeseen circumstances. This type of insurance is mandatory and is an integral part of the mortgage design.
At the time, such as life insurance and health is not obligatory at the legislative level, which makes the refusal of it easier. Then the banks go on tricks in the form of a reduced percentage when making an insurance policy.
But the benefit in the end may be on the side of the bank, so we advise you to recalculate the final amount of overpayment with a reduced percentage and insurance and without it. Figures can surprise you.
An important nuance of the conclusion of a mortgage agreement is the ability of the Bank to realize your property in case you will not cope with the debt load and stop paying the loan. In court, you can lose housing, and be obliged to evaluate from the premises with the full loss of property rights and order by real estate.