Mortgage loan

The loan is a unique feature and multiple consideration financial operation. In it, a part (called the lender) delivers an amount of money (C0) to another (called borrower) that receives it and undertakes to return the loaned capital in the (s) agreed maturity (s) (s) and to pay interest (price for the use of borrowed capital) in the due dates indicated in the contract.



Amortization operation is to distribute every return of the primary (C0), together with interests which are earning over the life of the loan. Periodic payments that the borrower have, therefore, the purpose of refund, to extinguish or to amortize the initial capital. This justifies the name of operation of depreciation and the terms amortizativos which is usually assigned to these payments.

Features

There is a building.

A public deed must be filed in the registry of property should be
It is a loan to medium-long term (usually between 15 and 30 years).

There are several types of mortgage loans according to the interest rate (fixed, variable or misto), the type of fee that we pay or the type of currency in which is paid the loan (normal or in foreign currency).

The conditions of the mortgage will vary according to the entity where we ask the loan and also taking into account the purpose of it (acquisition of our residence, purchase a second home, improvement of conditions "subrogation", reunification of) deudas-consolidacion, etc.).

To terminate the mortgage is not enough that the whole of the loan has been returned but that it must be in the registry, since if the mortgage is not made it will remain as "viva". " Face it it is necessary that the Bank consents to the cancellation and expenses are paid from the borrower