Points to consider when register on callcheckmate
The subject of the mortgage can be vague for many as it is complex. Here is a list of key points to help you in your efforts.
- What is an advance registration?
It is a right to a real estate. Thus, during the contraction of the mortgage agreement, the property is guaranteed: it therefore serves as a guarantee in case of default.
- Legal, conventional or testamentary mortgages?
When you find a home loan, you have three options to registration loans: legal, conventional or testamentary mortgage registration.
Legal: the mortgage registration is not constituted by a contract but results from the law.
Conventional: it is based on the conventions and depends on the different contracts and acts. The creditor can seize the property and sell it by court in case of default.
Testamentary: it is established by the testator, namely the author of the will, on the property or goods designated as guarantee. This then involves taking to the notary, resulting in notary fees.
- What can mortgage?
The most common practice in the case of a registration loans in mesa is to mortgage the property purchased. However, if you wish to provide another property as a pledge, this is also possible. If you have other possessions, be it a second home, a store, a boat or something else, you will be able to transfer it to mortgage registration instead of although you buy.
- Can current home be used as a mortgage registration?
The answer is a big yes! Indeed, it can serve as a guarantee, and so a stepping stone, when buying your new property. And even if it has not yet been 100% refunded. To be able to put your current property in pledge, it is generally necessary that the mortgage registration of the latter is at least 10 years. In order to have already repaid a good part of the loan (close to one third of the amount borrowed).
- What will be the amount of mortgage registration?
The amount of mortgage registration does not reflect the value of the property you are buying, i.e. the sale price. Indeed, as with any credit, you pay interest on the amount borrowed. Thus, to ensure that he will recover the entire loan, the creditor takes the sum of the loan to which he adds the accessories. In general, these amount to approximately 10% of the credit and are used to cover the various costs related to home insurance, seizure fees and other in the event of forced sale.
- What is the highest ranking?
When you subscribe to a home loan, the lender usually asks the buyer for a first rank listing. This means that, in the event of default and forced sale, he will be the first to be return. On the other hand, if it is a second ranking entry, it will only be when the senior creditor has been repaid. So the higher the rank, the more risk your lender takes.
