The choice to take out a mortgage is never easy, since it involves a prolonged commitment over time, usually of several years. Let’s see how to choose the best mortgage and how to get it.
Choose the bank for the mortgage
Surely the first step is to choose the lender from which to take out the mortgage. It is possible to find many offers of first home mortgages and mortgages for other properties. We must first look for a lender that inspires us trust.
The bank must also be able to satisfy all customer needs and take into account any special requests from the customer. If you prefer, you can also make mortgage requests online, to start evaluating it and decide calmly.
Apply for a mortgage
After choosing the bank, it is very important to fill in the mortgage application with the greatest possible precision .
The main necessary data that we must enter in the mortgage application are:
- the personal data of those who request it;
- indication of current occupation;
- indication of one’s income, both monthly and yearly;
- property description;
- property value;
- declaration of not having debts or, if there are any, the exact amount must always be indicated.
After the loan application has been made, the lender assesses its feasibility, or studies whether to accept this request or not. In favor of acceptance, the presence of more or less guarantees covering the mortgage, the applicant’s net income and the value of the property certainly go.
Usually the bank provides a maximum amount of 80% of the total value of the property subject to the mortgage. Only some banks finance up to 100%, but upon presentation of further guarantees and more disadvantageous conditions.
Stipulation of the loan agreement
After the bank has accepted the mortgage application, a contract must be entered into. To do this, you go to a notary, since a public deed is needed. The parties present are the Bank and the loan applicant. At the same time as the loan contract is signed, the mortgage is also activated to guarantee the mortgage.
Within ten days of the registration of the property in the mortgage register, the sum of the loan is credited by the bank to the applicant’s current account.