Friday, 30 May 2014

Collateral mortgage

By definition, a mortgage that its security is fixed mortgage in the land register. However, practice shows that it is often a security sufficient for the full amount of the loan, and therefore used in various banks and various other required additional security .

Let's start with the most popular security which is the mortgage . This can sometimes be determined on property belonging to third parties. This, however, does not apply to all banks, and those that this type of collateral accepted, very carefully check the credit history of the owner of the property. When it comes to our own real estate, secured loan can become other than its object. This in practice means that with one apartment, we can use it as a mortgage loan granted for the purchase or construction of another house.

The standard protection that is applicable and required virtually all banks is the assignment of a life insurance policy. If we do not have the bank prepare for us a special deal where we buy insurance with the loan. Besides, it is worth noting that the assignment of policy is increasingly becoming a standard protection of many types of loans, not just mortgages.

Quite a large variety of security is available for minor liabilities related to mortgage : insurance downpayment or temporary, until it is made ​​and approved entry into the Land Register and several other insurance buys a total of credit. In addition, some banks accept as collateral mortgages also guarantee property, bills In Blanco and other forms of collateral. Depending on the amount of the loan, we want to protect, we can negotiate with the bank approval and other forms of security-just in this area, most banks is characterized by a relatively high degree of flexibility.
What is important-remember always that the required safeguards read before, because all insurance are payable in advance and usually you can not give credit, so coming to the bank we have to be prepared for the appropriate amount for the purchase of insurance, and if we do not have this, as the policy life . Almost every bank will prepare us offer additional insurance, which we can also use-unemployment insurance, accident-all of which can also become a collateral loan .

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