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Surrogacy
A system can be through surrogacy that housing loan may have. So we assume the rights and obligations of the person making the sale. If subrogation is done, we must look the pros and cons with the financial institution.
If there is a loan on the house already or do not fit what we want, we need to clearly define the needs we have to make the request of the mortgage at the bank, broker ... Clarify the amount we need, share monthly we can take and it will take time to deal with it.
Consider major expenses that we will have before agreeing the loan amount.
- Tax expenditures arising from the purchase and sale (1% of what we ask).
- Opening fees (around 1%).
- Overhead: notary, registration, management, appraisal, home insurance ...
- Additional taxes: VAT or stamp duty if the property is not new (this tax is different depending on the Autonomous Community).
- It is a good option check online what the best mortgage market: it is a good reference to use in negotiating with our bank.
Administrative management of the mortgage:
- Perform the mortgage deed in the Notary.
- Entered in the register the mortgage loan.
The mortgage manager who performs the task is to make an interface between the end user and banks.
What we recommend is to hire an independent professional to have good references, which is not linked to any bank.
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