Law requires privileges in Germany. In addition to the mortgage also includes mortgage annuity and charge it. Very often the mortgage is used to cover a home loan.
Add and remove mortgage
If you want to borrow money from the bank, you must have an appropriate credit rating. Lenders like to draw on additional collateral such as mortgage liens.
- If you for certain agreed reason payment rates can not pay, the bank will sell the property and grundpfandbesicherte be carried out eg a forced sale.
- The lender requires registration in the land registry, in order to secure access to the land in the event of payment problems. If the loan is fully repaid the lenders lose the granted mortgage. A deletion in the belly soil Nothing stands in the way.
- Often the offsetting of the burden of the land has to do with the owners wanting to own the property free of charge. However, it is wrong to assume that a higher price can be achieved with a house with no load when selling.
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Hypothesis of a mortgage – note
During this time, hardly anyone is going to finance the purchase of a property with their own financial …
- Unfounded is also the fear that the elders charge of land from donors grants access rights. A bank must demonstrate the debt in court if they are to forcibly auction it off.
Disused mortgage cuts costs
As confirmation of repayment of the loan, the homeowner must be issue a waiver including the removal grant from the bank. Both are free. In the event of a sale of the property the registered mortgage has advantages as well. As the buyer, you don’t need to pay any additional cost.
- When you remove a mortgage loan of 150,000 euros approximately € 300 are due as notary and land registry fees. If you want to register as a buyer credit for the same amount, you pay about twice for registering the new mortgage.
- When a registered mortgage the seller has no cost. If you use as the new owner the same bank in the financing, you also have no charge. Select as a financing partner at another financial institution, you pay for a mortgage allocation (amount of 150,000 euros) approximately 300 Euro.
- Even if the property is not to be sold, removing a mortgage is not beneficial. Sometimes there is a modernization of the house, so new credit is required. The load of registered and decommissioned land is reactivated in this case. Cost savings of up to 900 euros.
You should know that both entering as well as removing a mortgage costs money. A deletion is unnecessary, even in a door-to-door sale. As the property of the owners can save so a few hundred euros.
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