The best mortgage

A mortgage loan should always meet the expectations or needs of the client. Most often we deal with mortgage loans for the purchase, construction or reconstruction of real estate. These mortgage purposes are usually a necessity, others are rather a convenient solution.
What are our expectations? We go to the bank, say what we want and that is it. In practice, however, it looks different.

Three areas are dealt with in detail – the amount of income and its acceptability; the value of the property and its acceptability; the purpose of the loan and its demonstrability. What can happen, for example?

Income
1) You have a big business and an “optimized” tax return = you do not have a demonstrable income.
2) You have a two-part income, basic salary and subsistence allowances, which often represent 2/3 of the total income = unacceptable income.
3) You are an employee and you have a sufficient income, adequate expenses, or no expenses = bingo! Finally, no problem... Until you find out that it takes two weeks longer than you were told and you are threatened with delay penalties...

Real estate
1) You have chosen a real estate, the purchase price is € 100,000, the expert report with a valuation of € 100,000 and the bank accepts a value of € 93,000 = it may be a problem if you do not have additional resources.
2) You have a great real estate at a fantastic price... However, there is an encumbrance on the real estate, the ownership of the property is not settled, or its legal status does not allow it to be used as a subject of security – what now?
3) You have a real estate where there is no problem, but with regard to some facts, it is possible to provide a mortgage loan of up to 70% of the value.

Purpose of the mortgage
1) You are self-building a house, so you cannot prove how much money you have used.  You need to take a loan to complete the building. Where do you take other resources to get a refund of the costs? And you might have the opportunity to get cheaper building material – but you do not have receipts for each item. How do you get the money?
2) Reconstruction – how much will it really cost? What can be included in it (furniture, home appliances...)? What do you need for it and what do you need to submit in addition?
3) If something is an acceptable mortgage purpose in one bank, will it be accepted at another bank? Is there a difference in the interest rates, conditions of approval or mortgage loan drawdown in individual banks?

Many other things that play a role in arranging a mortgage can occur in each of the parts. Therefore, the right mortgage is the one that you are most likely to get, for the least amount of effort and the best interest rates. It is a tailor-made mortgage based on optimization. It is exactly what you would have to spend a lot of time on if you could not use the free and professional services for independent mortgage specialists.