A mortgage loan is a financial product designed for people who are looking for financing in a higher amount and with an extended repayment deadline. The liability is contracted against a free property encumbered by the borrower. As a rule, these are loans with a repayment period of up to several dozen years. The collateral in this case is the mortgage of the property.
This loan has other advantages. Extended repayment period and interest rate reduced in relation to cash loans. Such a mechanism allows repayment of lower installments. At the same time, it involves increasing the customer’s creditworthiness and obtaining a larger amount of cash. An additional advantage is the possibility to use the obtained funds for any purpose without having to document their destination in the bank.
How to get a mortgage?
In order to obtain such a loan you can successfully use the help of our credit advisor. He will complete the necessary documents with you and help you through the banking procedures. Credit advisor is perfectly familiar with banking regulations and procedures. It will help you choose the loan that is the most advantageous for you. And most importantly, he will do it completely free of charge.
Mortgage loans are independent financial experts. We are an organization of professionals involved in financial intermediation on a daily basis. Through our members, we work with a huge number of banks and financial institutions which gives a wide range of possibilities for the client. We will compare the offers of various banks for free and help you choose the one best suited to your needs and possibilities.
Who can get a mortgage – what requirements must be met?
Anyone who owns a free-of-charge property can apply for a mortgage . Has stable income and meets the age requirements set by the bank.
The maximum loan amount is determined on the basis of the LTV (loan to value) indicator. It determines the value of the property in relation to the loan amount. The customer’s creditworthiness is another important factor affecting the loan amount. To sum up, this amount usually amounts to a maximum of 80% of the property value. Of course, if the customer receives the appropriate amount of fixed and taxed income from remuneration or business activity.