The possibility of acquiring this service will only require a proprietary deed from the company that the client must present in order to be taken as a guarantee to support the operation to be carried out. In order to have this service, that real estate must be free of charges and of any type of previous mortgage, otherwise it will not be considered as valid and you must obtain another one if it is to acquire the service.
Speculation about the amount that will be awarded to the applicant
On the other hand, this characteristic that becomes a basic requirement to access them is that it will also be the common parameter to be able to make a fair calculation and out of all speculation about the amount that will be awarded to the applicant. This is because the total value of the real estate that you present to the company will be the reference to know what will be the maximum that will be lent: that is, that 20 percent of that figure will be the limit.
You must also take into account the post-operation, which will then be the return period for this type of service. Here we will have two questions to analyze about the mortgage loans that are related to each other: time and installment. Regarding the first, it will be the number of years that the client will be paying monthly the money that has been granted in the management of the operation of the service.
Interest rate that is set for the monthly quotas
Regarding the quota, it will be that interest rate that is set for the monthly quotas and in which the profit and the payment to the company for the service rendered will then be reflected. We said that both characteristics are related because time will influence the fee that the client must pay. This is because the minimum time in which these mortgage credits can be paid is one year and the maximum is fifteen.
Therefore, if the beneficiary chooses to do it in two years, the interest rate will logically be lower than the one that can pay it in eight years. This is because the fee is a compensation and an amortization that acts on the delay of the return of the amount granted.
The documentation of a property free of charges as a guarantee
This service, which only requires the documentation of a property free of charges as a guarantee that will be used if the client is unable to comply in the future with the return period proposed in the operation, does not include the investigation of any antecedent of the beneficiary . This gives the possibility to anyone, even if they do not have a payroll or even appear on a list of delinquent debtors or Asnef, to acquire this loan without distinction.
This service will not question you either about the reasons why you need these mortgage loans or for what purposes the cash will be used or how it came to this particular situation. It will simply be analyzed if the deed of the real property that you present is in order and the operation will be carried out under legal terms, then crediting the loan in your bank account.