An interesting banking product that was passed in 2014 by the Senate is an inverted mortgage. What is this mysterious mortgage? The definition of this product is not difficult. A step-by-step กู้สร้างบ้าน is the best way to get finance for an apartment.
People who already own a property can look for money for other purposes. Sometimes it can be corporate investments, and sometimes also the purchase of another real estate. Inverted mortgage will be a great option for older people. Why? Older people who have flats can often have problems with a small pension. Sometimes they lack medicine, food or clothing. The bank signs a contract with the owner of the flat, which obliges him to give the owner a lifetime pensioner the full payment of the funds collected.
Instead, in the event of the death of such a person, the bank takes ownership of the property. It is worth adding here that the banking institution must guarantee the borrower the option of living in a location for the rest of his life. Signing a contract with the bank the owner of the property does not have to pay back the loan. It must be remembered that the possible fall of carpets are not deprived of the right to a flat or other pledged location they will recover it if they repay the amount due. If they do not do this, the bank takes over the property for a mortgage. Step by step, however, you can recover it.
In this case, the loan may also be granted only by the bank. The legislator wanted the financial product also to be controlled by the authority.
Mortgage – requirements
The basic criterion for obtaining a mortgage is creditworthiness. A mortgage loan burdens the home budget for many years. Creditworthiness a mortgage loan treats it as the main repayment criterion is, in short, to check whether a potential borrower is able to repay the debt owed on time, with interest and all additional costs. Before the bank goes through to check this capability, it will also present the relevant requirements.
Criteria and own contribution: Mortgage without secrets
The basic requirement for a mortgage loan is savings. The funds saved will be treated as own contribution, which the borrower will put into the purchased property. Before starting credit applications, it is therefore necessary to check whether the state of savings will allow you to make an appropriate contribution. How big should be the own contribution? A mortgage loan can be obtained by a person who contributes a minimum of 20% of the value of the flat. Sometimes banks offer loans especially addressed to young people, where the amount of the contribution may reach even 10% of the value of the property. The bigger the own contribution, the better the position in front of the bank. Loan costs are also lower a smaller investment in a loan means that the bank will additionally secure itself for example, another insurance that will increase the installment.
However, you must know that not only cash can be your own contribution. There are also other solutions that the banking institutions fully accept.