Features of lending secured by real estate
It is difficult even to imagine a person who has never faced financial difficulties in his life. They can be caused by both lack of work and unexpected expenses on an especially large scale, for example, buying a car or expensive digital equipment. Whatever the circumstances, financial problems should be resolved as quickly as possible. A loan secured by real estate looks like the most adequate option in order to receive a serious amount and dispose of it at your own discretion.
Banking organizations are actively promoting this service, since it allows you to minimize financial risks. This category of financial instruments applies to mortgage loans and consumer loans. The latter can be targeted or non-targeted. Before using a home loan secured, you should read the terms of its provision.
A loan secured by real estate: what you need to know?
Many citizens managed to obtain a loan secured by property in banks, who were not satisfied with their decision. It is important to understand that the bank will never evaluate your property at its real value, therefore it will provide only 60-70 percent of the market price of a land plot or house.
If the borrower fails to repay the loan on time, he will not only lose real estate, but also lose up to 40 percent of its real value, which makes such loans even less promising. The legal aspects of applying for a loan from a bank should be studied with the utmost care. The Bank always reserves the right to sell the property if the client does not fulfill the strict conditions for the provision of financing. To receive money secured by real estate in a bank, you will need the following list of documents:
- passport and TIN code;
- application for a loan;
- income statement;
- copy of the work book (certified by a notary);
- marriage certificate;
- certificate from the housing office about the registration of children in the apartment.
Also, bank customers do not have to rely on fast financing, even if the conditions for receiving funds are satisfied with them. Usually a loan secured by real estate is delayed for at least a month. It takes at least 7 days to collect documents, another 10 days are needed to consider an application and the same amount to register a transaction. It may take another 5-10 days to collect additional certificates. If a loan secured by an apartment is urgently required, then such terms of its provision can hardly suit the client.
What are the real alternatives to bank loans? Anyone who wants to use the offer of a specialized financial organization can get a loan secured by a house. You just need to leave a request on our website, which will be considered as soon as possible. We issue a loan secured as part of a standard procedure, so the client knows in advance the full list of documents that he must provide.
We are constantly improving our own service, and we also make sure that the lending conditions remain beneficial for our clients. You can discuss all the nuances that a real estate loan involves with our manager. You don’t have to wait in lines to apply. In addition, 99 percent of the company’s clients can receive a loan secured by property, since the refusal rate remains minimal. All terms of cooperation are available on the website. You can take out a loan secured by housing from us with full confidence that the lender will honestly comply with the terms of cooperation.
visit our office in Kyiv; contact our staff by phone; fill in a simple online application form on our website. Receiving a sum of money takes from 2 hours to 1 day (if there is a minimum set of documents).