How to obtain a mortgage loan? A question that unfortunately, given the economic situation, arises in many. Let us try to give an answer today.
Obtaining a Mortgage Life Loan is for many, nowadays, the only possibility of accessing credit, especially if you are at an advanced age. In this post, we will give all possible useful information to answer the question on how to obtain a Mortgage Life Loan, analyzing the requirements, the institutions operating in this sector and the different possibilities that this form of financing opens up.
Obviously, for those who do not have enough information on this form of financing, before explaining how to obtain a Mortgage Life Loan, we recommend reading this post.
How to obtain a mortgage loan? The requirements and the amount obtainable
To tell the truth, there are not many requirements to obtain a Mortgage Loan. In fact, to access this form of credit it is sufficient to be over sixty years of age and to own a property.
With a Mortgage Life Loan it is possible to obtain a sum equal to 10% of the property value for the 60-year-olds, 20% for the seventy years, 40% for the eighties, and up to 50% for the nineties. In short, these are very interesting figures.
Generally, this form of credit provides a maximum loan of 300,000 euros, and in any case never more than 350000 euros.
How to obtain a mortgage loan? Institutes and requests
One of the main difficulties to understand when asking how to obtain a Mortgage Life Loan is that relating to the lenders. In fact, although this form of credit has entered Italy for several years, Italian banks are reluctant to grant this form of financing, also because for some years the value of real estate is literally collapsing.
And then how to get a Mortgage Loan? Simply arm yourself with patience, and literally beat any lending institution, hoping that their grids show a well-defined feasibility. Once the provider has been found, a formal request will be made.
Generally, to obtain a Mortgage Life Loan, the following documents are required: Copy of identity document, Fiscal Code, Contextual Certificate, Family Status, Preliminary Notary Report or Provenance and Expert Statement.
From the moment of the request to obtain a Mortgage Life Loan, a few weeks or a few months may pass until the actual disbursement, depending on the length of the steps that follow.
How to obtain a mortgage loan? Contract and provision
The annuity loan contract is the document defining the conditions stipulated between the credit institution and the owner of the mortgage loan.
With the signing of the contract before a notary, the mortgage on the building is registered and at the same time the requested sum is obtained (obtained).
From this moment, the contractor who has succeeded in obtaining a Mortgage Life Loan can decide whether to repay his debt by installments, or bequeath to his posterity debt and mortgaged property. In the latter case, upon the death of the contractor, the heirs may redeem the property by paying debt and interest, or sell the property, pay debt and interest and divide any difference.