Different types of mortgageApril 18th, 2012
Banks have to be very flexible in offering different types of mortgages. This allows practically anyone can find a good solution tailored to their needs.
The different types of mortgages that are different, for what purposes are to be awarded.
So there may be different (although marginally, because the main security for all is a mortgage on real estate) also in terms of their allocation procedures, required documents, etc.
The choices are primarily (in different banks may appear different names):
- A loan to buy an apartment or house in the primary market (ie new – from a developer)
- A loan to buy an apartment or house in the secondary market (that is used – for example, from another individual)
- A loan for the construction of a detached house (such as when you intends to build a house)
- A loan for the purchase of the plot (it may include various land – building, land, cottages)
- A loan for renovation of the dwelling
- Loans for the superstructure, expansion or remodeling a house or apartment
- A loan to buy a property abroad (both apartment, home or a recreational property)
- Loan refinancing (replacing expensive credit at one bank credit cheaper elsewhere)
- Loan consolidation (replacing several different loans and one credit)
- A mortgage (provided for any purpose)