What to look for when choosing a LENDER??? - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
It is hardly necessary to explain how important it is to choose a worthy partner, if you are going to tie themselves to long-term and onerous bond mortgage loan. The selection of the Bank many are not serious enough, and, after some simple monitoring phoned two or three banks and knowing the mortgage rates are determined almost by...It is hardly necessary to explain how important it is to choose a worthy partner, if you are going to tie themselves to long-term and onerous bond mortgage loan. The selection of the Bank many are not serious enough, and, after some simple monitoring phoned two or three banks and knowing the mortgage rates are determined almost on a territorial basis (to pay less and walk closer). Meanwhile, ten or twenty years is a long time, you never know what can happen and how to behave on the Bank in a particular situation sometimes depends on the financial wellbeing of the entire family acquiring the property.The loan will provide: the borrower, the Builder or the insurer1.The majority of our borrowers only trust myself, so looking for the Bank itself. Variant surface we call rejected, but a prospective client can cope with the task of choosing the lender. However, without Internet we can not do.So, first you need to select from nearly two hundred banks operating in Ukraine, some of the most suitable, stable, reliable, authoritative. To do this, go to the website of the national Bank or of the Association of Ukrainian banks and view the ratings of the banks in some respects вЂ“ the authorized capital, total assets, loan portfolio, to the Depositary. By the way, I personally last option seems very revealing вЂ“ once people trust this Bank money, then he is worthy of it.Further you need to go to the sites of the selected banks and carefully consider their suggestions. Generally they have loan calculators, and by entering their own value (the availability of down payment, repayment period, etc.), we can obtain a preliminary calculation of the future loan.And be sure to read the forums, not only on the websites of these banks. Of course, there are a lot of "chaff" and incompetent opinions. But frequent references any Bank in a negative context should be alerted. And only after that have been thoroughly "savvy", you can go on a conversation in mortgage center financial institutions.2. If the client is going to find a new (under construction) real estate (it is a fashionable word "investor"), he is often forced to trust the judgment of the Builder. The latter offers the client to take a loan in a particular Bank with whom the construction company signed a cooperation agreement. In this sentence there is "plus" and "minus". The good thing is that the procedure of receiving a loan will be easier, because banking services do not have to spend time checking the reliability of the developer, which is always done in such cases. The negative is that the choice of the investor already there, and he cannot take advantage of more great offers of other banks.3.There is another option: the attraction to finding the right loan for housing a third party, for example, an insurance expert or a financial Advisor. "The insurers?" you ask. Yes, in this case, the insurance company accredited in several dozen banks, an expert who thoroughly knows all the proposals. And its quite specialist can help sort out the welter of proposals. If the same insurer for some reason I can't bring myself to do it, he can use the services of a mortgage broker (as a rule, insurance companies have such sparring partners). Turning to the financial consultant, a hundred times to check his reputation, because instead of services for the selection of the Bank you can get the patronage of a friend or relative working in a financial institution.How much is the first payment?Fingering banks offers, don't forget about a very important aspect вЂ“ how much are you able to pay immediately and will pull any additional fees that accompany a loan extension and the real estate ownership.Among the needy in their own homes and many of those who have no money for a down payment. These customers are looking for deals with the "introductory course". But the lack of first installment costs the borrower is quite expensive. The lender usually requires an additional security Deposit: in addition to the purchased apartment and car (if it is expensive, but then the owner must have money for the down payment), or other real property.In addition, assuming no downpayment almost all the banks increase interest rates and terms of repayment of the loan. Yes, and the "zero" only in the secondary market, to find the loan for the new home without a down payment is almost impossible. Banks are motivated by the fact that the risk of such lending is very high: a Bank takes in a Deposit not yet existing estate. But if it was never going to build?And the borrower is necessary to calculate additional costs. First of all, it will be necessary to evaluate the collateral. In each Bank there is the expert, but his services will have to pay, plus the notary fees for registration. So an extra $200-500 will be spent on it. In addition, the borrower will have to pay a one-time fee for loan maintenance 1-2% of the amount, and insurance (annually from 0.25% to 1% of the appraised value of the property). How much the insurer will take for the insurance policy on the life and health of the borrower, it is difficult to predict вЂ“ it depends on many parameters (age, gender of the borrower, etc.).