Fine Opportunities for the Proper Mortgage Broker Now

The granting of new mortgages will reach 550,000 contracts per year between 2018 and 2010. Among other things, this upturn in the sector will be due to low interest rates and the improvement of the economy.

Make sure you meet the requirements

At the time of granting a credit, the banks take into account certain essential requirements on the claimant. Before asking for the mortgage, you must make sure that you meet the profile and that the bank will not reject your proposal. Some factors such as age can limit you, since banks usually grant credit to people between 18 and 75 years. You may have a better chance of getting the mortgage if you turn out to be undefined than if you turn out to be a temporary worker. Also, you should check if you turn out to be on an official defaulter list, many entities can reject you directly if you happen to be in one of them because they consider you have a risk profile.

Prepare the necessary documentation

It is important to justify the periods in which you have not been working or have changed companies. From all the information you justify, the bank will decide whether or not you turn out to be a risk profile and the conditions that your credit will have. Normally, the bank will ask you, among other documentation, the DNI and NIF, latest payroll, working life etc. The good mortgage broker in Singapore happens to be the best deal now. Surely you will have the best suggestions from him and get the best support now. You will get all the details also.

Calculate the exact amount you need

In addition, you should be aware that the vast majority of experts say that the bank should not be asked for more than 80% of the appraised value of the property. To do this, you must have saved and available 20% of the price of the house. In this way, you will have a better financial situation. For its part, the bank does not usually lend 100% of the cost of the house and the loan does not usually exceed 80% of the value of the property, although this maximum may vary from one entity to another. On the other hand, the monthly mortgage payment should not exceed 40 or 50% of your monthly income, since you will find few entities that assume your risk profile before the possibility of default.

Pay attention to the small print

When you choose the mortgage you should look at something more than the publicity that the bank makes and thoroughly examine the condition of the mortgage. Once you sign it, there will be no going back.

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