A significant number of banks offer loan programs with a collateral condition. Since the bank will have money-back guarantees, you can get a loan at a lower interest rate.
Instructions
Step 1
Find out if your property qualifies for mortgage. Most of all restrictions are imposed on apartments. This dwelling should not be the only property of the family. It is advisable that no one at all be registered in the apartment, intended on bail, especially children and disabled persons. Also, difficulties can arise if you only own a share in an apartment or house. In this case, it would be best to sell the existing property, and instead buy a smaller one, but that belongs only to you. In this case, you can provide it to the bank as a guarantee.
Step 2
If you are going to mortgage a land plot, check if it is registered as your property. You will not be able, for example, to conclude an agreement with a bank if you only have the right to use the site, but it belongs to a dacha cooperative. The situation is similar with a potential mortgage car. He should not be under additional encumbrances, for example, a car loan secured by himself.
Step 3
To apply for a loan, you must have a certificate of ownership of the potential collateral. The bank has the right to request you to conduct an assessment of it, which may cost additional money. You may also need a cadastral passport, drawn up at the bureau of technical inventory.
Step 4
If the bank agrees to give you a loan, sign an additional agreement regarding the collateral. Please note that for the entire crediting period, these objects will be encumbered, which excludes their sale or exchange without the knowledge of the bank. Potential heirs in the event of the death of the person who issued the loan, along with his property, will receive obligations to pay money.
