The third condition at mortgage registration is your age. Yes, financiers don’t give out credits to all interested persons. And though officially banks have no right to give loan to people more senior 65−70 years, already prepare to that they can refuse to you the credit if you are between 25-30 years. To assure the inspector of mortgage advanced repayment (we will tell, for 10 years) it is useless: it all the same will prove your insolvency at the moment of a retirement. As a last resort, we will suggest to take the credit for shorter term.
Therefore you can arrange the sum on the youngest full age member of the family. And that the bank hasn’t refused act as its financial guarantor, but there is also an additional clause for the borrowers having juvenile children. Under the law families with juvenile children need to agree registration of a mortgage with regional board of trustees. To a campaign in bank, work to receive the special rate in this state institution: without it in any way if you register in apartment of the juvenile child bought on tick.
And here you receive a mortgage. All requirements of bank suit you. It seems so, but don’t hasten to rejoice to the successful transaction. Necessarily get a grasp of the agreement. First of all, pay attention to that the bank hasn’t registered in it payment of the monthly obligatory commissions and an additional payment for mortgage advanced repayment. Further we look for the agreement section, concerning sanctions of the creditor. As a rule, the bank aspires to punish the borrower literally for all: from untimely repayment of a loan before untimely prolongation of the insurance. Understand that for payment delay for day bank lifted the interest rate on 3−5 % annual and even fined on 20 % of the sum of delay per every day. Haven’t reported to bank about change of a place of work also you get the penalty (the allowance of 1−2 % annual). And don’t quarrel yet with the credit inspector: its obligations include check of a condition of real estate so find time for it. And here with costs for mortgage registration there’s nothing to be done.
It is necessary to pay for services of the credit inspector, the notary and other personnel arranging of mortgage. Cost of all these services shouldn’t exceed 1−2 % from an amount of loan. And the last: bank will make you to take two insurance: on habitation (in case of fires, flooding and other damages) and your life has the right to force to acquire you. Last insurance is the guarantor of that in case of loss of health or even death, the insurance company will repay the credit, and the bank won’t take away real estate from you.
Can you remember those good times when everybody could take a credit if one required money? And just imagine the situation of those who have to carry that burden nowadays when the economy is facing hard times. And for those people having credits the issue of credit monitoring is as crucial now as never before. It is not only about credit monitoring, this also helps save money, time, and nerves and be fast in solving loan related problems. Those who are searching for a place where to learn about credit monitoring, are welcomed to visit this credit report monitoring site – there is much information about loan monitoring and how to order that service.
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