Loans And Mortgages Information

A mortgage is the ideal solution for first home purchase, for a new apartment, for the much-dreamed of the sea or stay in the mountains and so forth.

The loan can be claimed even by those who intend to open an office to be allocated to its work. In reality there is no special funding for offices, but in most cases it is using normal funding (personal or among members).

Before signing any loan contract, you must read some parameters indicative of the interest to be paid and expenses incurred in the return of capital received.

• The first indicator of the rate of interest is the TAN - Nominal annual rate - which indicates how you will pay per year of interest (the interest is obtained by multiplying the capital for this percentage).
• A second and more important indicator is the APR (Annual percentage rate of charge). Unlike TAN, this incorporates all the charges laid down for the complete operation: inquiry, open circulation, collection rate, insurance and interest.

When the term of repayment increases, down (the costs are “coated” on a longer time). This index also decreases with increasing the amount required (the APR is a measure of the cost of financing).

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If you decide to buy the house now, often makes use of a loan. The granting of this mortgage the property will be entered purchased.

This mortgage is alleged by the bank as security for any default or problem should arise. The type of mortgage that you subscribe to is called voluntary because it is the purchaser who will request for the issuance of the loan by the bank.
The mortgage loan is a public act, must be signed in the presence of a notary. The notary is useful to draw up the contract, save in public records, enter the mortgage and verify that this registration has taken place regularly. Registration of mortgage inscriptions on buildings is held by the Real Estate Registry Conservatories who is interested in whose territory the property is located.

You pay all installments of the mortgage loan will expire automatically or need to go to the notary? The mortgage is an accessory in the sense that if the debt or missing ends, the mortgage has no reason to be and ceases to exist. It automatically expires after 30 days from the payment of last installment. May be renewed in the event that at maturity the debt is extinguished.

Registration of mortgage has an additional cost that should be added that the investigation initiated by the bank for the practice of the loan.

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Each bank, when granting a loan, bear risk: the one who turns on the loan may not pay and lose a lot of money to the bank.

Getting a loan is not easy: to be given to all bank guarantees and a financial history of all respect (results not to be insolvent, protests, have a job).

At this point, the bank may choose to grant the loan (and bear the related risks) or funded outside (and transfer to other risks of the loans themselves).

How does the second alternative?

If we decide to buy a house, the bank pays the full amount for us and we must repay the debt with interest. The bank then subjected to a risk (that the customer does not pay the installments of the loan) that the mortgage on the house or the property taken by the customer.

But the bank, to protect them, can do more. For example, may take a certain set of loan contracts, 100 contracts from 100 thousand Euros each, for a sum that is worth 10 million Euros. In view of these mortgage contracts, may issue bonds worth 10 million Euros, of which periodic payments of interest and the final repayment of the sums will be guaranteed by periodic payments of installments of loans.

In this way, the bank obtained before the expiration of the 100 loan contracts, the sum which has already paid to customers, but reduced the sum of interest payments on debt.

This is the securitization, which means that processing into folders in bonds.

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