Request early mortgage repayment

Request early mortgage repayment

The early repayment of the loan is the practice with which the borrower asks to repay in advance all the sum received on loan , or even just a part: in this case we speak of partial extinction. This choice can be dictated by the desire to save on interest , as these will not be counted on the part of the capital repaid in advance. To better understand if the mortgage repayment plan is sustainable, and if an early repayment would be possible, it is always possible to carry out a mortgage calculation in order to have a clearer view.

It is clear that this possibility is convenient for consumers, but less for banks, which lose interest on the capital repaid in advance

It is clear that this possibility is convenient for consumers, but less for banks, which lose interest on the capital repaid in advance

Law 40/2007, that is, the law that converted the Bersani decree into law, has made this choice even more convenient for those who have opened a loan for their first home. In fact, for all mortgages granted starting February 2, 2007, banks or financial institutions can no longer ask for a penalty. To pay off the loan early, it is sufficient to communicate this will to your bank.

However, given the long duration of these loans, many Italians still hold mortgages open before this date

loan,money

In this case, it is still possible for the bank to request a penalty for returning the remaining capital in advance. Although the conditions change from bank to bank, there are some general rules to follow, according to an agreement between the ABI and consumer associations:

  1. for variable rate mortgages granted before 2 February 2007 and those with fixed rates opened before 1 January 2001, there is no penalty if the termination takes place in the last two years before the loan expires. There is a maximum penalty of 0.20% if you repay in the third or last year of the loan or 0.50% if the redemption takes place before that year.
  2. for fixed-rate loans granted after 31 December 2000, no penalty is provided for in the last two years before expiry. The maximum penalty is 0.20% in the third last year, 1.50% if you repay the loan in the second half of the amortization period (but before the third last year) and 1.90% if the full or partial repayment takes place in the first half of the amortization period. However, if the contract provided for fines greater than those indicated, there will be a reduction of 0.25%, if the penalty is greater than 1.25%, and 0.15% if it is lower than the threshold.

To sum up, for the most recent loans, the mortgage repayment is without penalties: otherwise the rules of the described agreement must be followed.

Debt consolidation loans: here you will find the best guide on credit driving credit

Debt consolidation loans: here you will find the best guide on credit driving credit

Which is a tax sometimes levied on loans with a high Loan to Value ratio (LTV). Normally imposed only when you are borrowing more than 90% of the value of the security, and should always be made very clear to you before signing a loan agreement, if one of these charges has to be made.

Shopping loans around for a debt consolidation loan can be a confusing and often even frustrating experience

Shopping loans around for a debt consolidation loan can be a confusing and often even frustrating experience

In this regard, many credit guide people who are in the market for a debt consolidation loan are ready to find a lender and sign a debt consolidation loan agreement on the bottom line. Many consumers actually pay little attention to the debt consolidation loan rate, assuming (and wrongly) that all institutions in ex-post long- term loans in ex post-long-term credit loans INPS loan ex ipost long-term loans debt consolidation are in charge the same rate as debt consolidation loan. Alternatively, even if a consumer is aware that different lenders are using slightly different debt consolidation loan rate scales, the variations from one lender to another do not amount to anything significant. Again, this is an incorrect assumption that is made by many IPS long term , many ipost loans , many consumers in this day and age when it comes to a loan rate ofDebt Consolidation. If you are shopping around for a debt consolidation loan, you must fully understand that even a slight or slight change in the debt consolidation loan rate from a creditor to another can have a huge impact on mortgages the amount of money you will pay for the former ipost ipost long-term loans debt consolidation loan for the duration of that loan. Even a small downward correction of the loan debt consolidation rate of the fifth transfer can end up resulting in hundreds if not thousands of euros saved and put back in your pocket for the duration of the loan.

Savings can be realized by a loan rate of Debt consolidation

Debt consolidation

Plus low credit guide is even more starkly illustrated when considering how much you would have historically spent on higher interest rates, penalties and late fees that were otherwise associated with credit accounts that consolidates with the loan of debt consolidation. In point inps ex ipost multi-year loans, in fact, saving everything can be so very significant, the debt consolidation loan can be the most useful vehicle for use when it comes to making a positive and affirmative step towards getting your home financial again in good order.

If you want more mortgages on a debt consolidation credit guide loan and the tremendous impact of a lower debt consolidation loan guide rate, you will be able to find some solid, independent and impartial resources for that information in a number of websites on the net. In addition, driving credit inps former ipost long-term loans there are a few government agencies – the FTC among them – can provide some basic information about your debt consolidation alternative loan rate in the 21st century.

First House Mortgage Documents: Income and Family Status

First House Mortgage Documents: Income and Family Status

Let’s find out what are the documents for a first home loan , the loan that allows you to buy the first property of a new family or any citizen. Access to a mortgage is granted to both individuals and families, but the distinction between the two situations, as we shall see, is very important, because different documents are required. The loan for the first home can usually cover up to 80% of the value of the property and benefits from numerous tax breaks.

This loan can be repaid over several years

loan repaid

Depending on the contractual conditions accepted at the time of its disbursement, and can include a fixed interest rate or variable rate. 

Whatever the conditions stipulated with the bank or financial institution that provides the loan, regarding duration, installments and interest rate, the documents to be presented are always the same. In general, the documentation serves to certify the personal, family and income situation of the applicant, so that the bank can get an idea of ​​the level of risk it will incur by disbursing the loan.

Certainly, the most important information concerns the financial status of those accessing the mortgage

home loan

To certify the situation, it is first necessary to present the last CUD model , in order to give an idea of ​​the remuneration received. If the applicant is a self-employed worker, he must also present the professional register or registration with the Chamber of Commerce system. However, these documents are not enough: everyone must deliver at least the last two tax returns , in addition to the last current account statement. This documentation serves to certify the overall income situation of the applicant, which could not be described solely by the CUD.

As mentioned earlier, the family situation is also important. Among the necessary documents, the contextual certification appears, which gives a lot of personal information, including the family status . The marriage certificate must be presented, in the case of a married couple, or the separation certificate or the divorce sentence, in the case of legally separated couples. Finally, copies of identity documents and the tax code are obviously needed.

Finally, among the documents for the first home loan, those relating to the property for which the loan is requested must be remembered: the purchase proposal and, above all, the deed , ie the deed drawn up by a notary who certifies the sale of the house. Only in the case of new buildings, the building permit is also required.