Archive for the ‘Real Estate’ Category

Great Ideas for the best Mortgage

Saturday, July 7th, 2018

Banks are the most loyal to borrowers with a bad credit history. Of course, this is not about malicious defaulters, but rather about borrowers with rare or objectively conditioned violations of credit obligations. These banks can approve the borrower’s application with overdue more than 90 days, but he will need to provide an explanation of the reasons for the debt or close current loans, rarely – even correct mistakes in the credit history when the borrower is credited with “non-existent” violations.

Belong to the number of banks that give feedback to borrowers with a bad credit history – they argue their refusal and suggest ways of solving the way out of the current situation as said by the mortgage broker GeelongĀ .

How do banks check applicants for mortgages in practice?

Can an officially unemployed person take a mortgage?

Rating of banks on the level of loyalty to low income of borrowers

Commercial banks

As a rule, they adhere to the “50 to 50” rule and approve a loan amount, payments on which should not exceed 50% of the total income of the borrower.

State-owned banks

They use a more flexible income assessment system and often endorse the maximum possible loan amount for borrowers, at which about 70% of the total income can go to monthly mortgage payments.

Early repayment due to the reduction of the period, but the bank accepts only as a reduction of the monthly payment. If you need to reduce the period, we proceed from the fact that the monthly payment does not actually change, therefore, if the bank can accept the early payment only as a result of reducing the payment, we correct this decrease. Monthly early payment so that the payment remains fixed, so you will simulate a permanent payment, this increase will increase monthly on a monthly basis. Payment will be reduced.

All these tips require internal discipline and responsibility, because the bank will ask less and need to force it to give more, but in general they will allow you to feel more free and less loaded with a credit burden.

Principle Seven

This item is very important for women, but men often can do without it. Allocate a certain amount for … bullshit. This includes shopping with sudden small purchases, going to the movies and so on.

 

Be sure to have funds for unforeseen expenses. This includes gifts, visits to doctors, and unexpected breakdowns of household appliances. It is better if it is a fixed percentage, but you can proceed from the remainder.

There it is, the most important moment! Check if your expenses exceed your income. If this is so, count it all over again, make corrections; think about what you can refuse.

Now you have calculated your monthly expenses and can plan the amount you are willing to save to buy an apartment or an initial mortgage payment. Make the amount you put aside with an untouchable stock (for example, transfer it to the bank into an account from which you cannot withdraw money within a year). You will get used to part with this money, and in the future it will be easier for you to make a monthly payment on the loan.

Main risks when buying an apartment in the secondary market

Friday, June 1st, 2018

The secondary real estate has its advantages: the house is already built, the area is habitable, and the infrastructure is developed. But the risks when buying an apartment in the secondary market, perhaps even more than in the case of new buildings. Here are the best tips to find your property.

  1. Purchase under false power of attorney

Black realtors do not slumber; their victims can be lonely old people, people who are dependent on alcohol or drugs, orphans. This is their apartment swindlers reissue on front men and put up for sale, the owners are discharged and resettled in the deafness. Since scammers need to act quickly, they usually underestimate prices. Although the low cost of housing is only the first sign for the buyer.

  1. Illegal privatization

Each apartment in the secondary market has its own history. Begin testing after the privatization of housing. The fact is that in this procedure all those who were registered in the apartment were to participate. And if one of the members of the family has forgotten about the rights, for example, the mother privatized the real estate while the son was serving a sentence, then as a result you will suffer as a buyer. The deal could be declared void due to illegal privatization. Watch out if at the time of the transaction the spouse or spouse of the apartment owner is declared disappeared. An absent relative can appear in a few years and claim their rights to the apartment. Swift Removals London

  1. Uncoordinated sale

Find out how many apartment owners have. For sale, both spouses (or former spouses who were married at the time of buying the apartment) must agree. If there are underage children among the property owners, the bargaining and guardianship authorities should approve the transaction. In other words, absolutely all apartment owners must say a decisive yes. If one of them does not do this and after the transaction declares his rights, it is recognized as invalid.

  1. Unaccounted-for inheritance

Check how many times that apartment was bought and sold, how it got to the last owner. The apartment could be donated or inherited. It should be clearly checked on the documents, cannot other relatives also be the heirs of this apartment. If the rights of these people in the sale of real estate will be violated, the transaction may be declared void.

  1. Debts on contributions for capital repairs

Finally, after buying an apartment, it may turn out that the previous owner owes a decent amount for a major overhaul of the house. Unpaid contributions for capital repairs of mono-apartment buildings are transferred to a new owner of housing. Therefore, check the existence of debts before the transaction is processed.

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