Sometimes circumstances arise in people's lives that push them to find ways to pay off the mortgage. Usually this is due to the desire to take money for the purchase of housing of a larger area or to pay off old debts.
Instructions
Step 1
In order to get rid of a loan taken for many years, it is possible to sell a mortgaged apartment or ordinary housing, although it is not so easy to do this, since you need to take the consent of the bank that issued you the mortgage. The search for new solutions to the problem should be started only when the issue with the old apartment is excluded, and for this it is necessary to meet with the bank's specialists. Although it is all spelled out in the mortgage agreement. Also, the agreement contains many legal issues that are difficult to understand on your own, so it is better to contact specialists on these issues. After all, if a moratorium on violation of payment terms was specified, the sale of an apartment would be impossible. If the bank agrees to sell an apartment, you can start looking for buyers, however, in order to avoid misunderstandings, it is better to find people with money in their hands.
Step 2
In order to transfer the mortgage debt to the new owner, you must comply with all legal formalities. The owner who has purchased a home can also continue to pay the loan in installments or pay the entire amount in full. But banks are reluctant to accept the option of partial repayment due to the emergence of new additional work, i.e. checking a new borrower for solvency. However, they also have no right to refuse, because this point is in the contract.
Step 3
The on-lending procedure nowadays occurs more and more often, because the interest rate of past years was much higher than it is now. That is why buyers and sellers go for on-lending.
