How long does it take to arrange a mortgage

Článek

What generally affects the speed of processing

The whole process certainly cannot be downloaded only within a few days.On the other hand, it can stretch for several weeks to brake money.

What generally affects the time of the mortgage?

- Applicant's activity

- The complexity of the loan

- Bonity and financial possibilities of the applicant

- Cooperation with the bank

- Whether it is a loan to acquire a finished property or for construction

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Selection of the Provider

The first phase on the way to money from a mortgage loan is the choice of a bank that will lend you money.The sooner the client chooses, the faster he can discuss the specific conditions of the contract.But this certainly does not mean that with such an important step should rush.

Choosing the best provider may stretch for long hours, but it is necessary to realize that the mortgage is a loan for a very long part of life.The client should definitely consider addressing a mortgage consultant who has an overview of the banking market.His advice and experience will be useful in other stages of mortgage requests.

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The background for the bank

After you choose the provider, you can discuss specific conditions with it.At the beginning of the process, the bank will require several documents that will need to evaluate your financial possibilities.

This part can stretch very much.On average, this phase lasts 1 to 2 weeks.The more documents the applicant has prepared in advance, the faster the whole process can take place.

What documents the bank requires?

- A copy of personal documents

- Confirmation of income and expenditure provided by the bank

- Self -employed must deliver a tax return

- When purchasing real estate a draft purchase contract or reservation contract

- In the case of construction, the following documents: extract from the land register, zoning decision, building permit, project documentation, construction budget, etc..

- If you are buying already built property, the bank will also require its estimate

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Approval procedure

This step cannot accelerate the client too much.After delivery of all the necessary documents, the bank takes about 1 to 2 weeks.If a person has used the services of a mortgage advisor, there should be no bigger hitch at this stage.

The bank verifies all the essential information that the client needs to know.For example, his creditworthy is to check his repayment past.If he has not ever been paying regularly in the past, this is likely to be reflected in the conditions of the mortgage.

Mortgage approval

The moment the mortgage bank approves, you need to arrange only a few details.It is important to be careful about the conditions for drawing mortgages.The following steps also need to be resolved:

- Confirmation of payment of part of the purchase price from your own resources

- Real estate and Vinculation Insurance in favor of the Bank

- Signature of the Purchase Agreement

- Delivery of a petition deposit

- the time of processing according to the purpose of the mortgage

The time of processing according to the purpose of the mortgage

How long the whole process of mortgage is also depends on what type of housing you take the loan.

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The fastest is the situation in the case of a mortgage refinancing.You do not have to deliver as many documents to the new provider as the original request.The whole process can last even 14 days, but the deadline is more frequent a week longer.

When buying a house or apartment, you need to count on about 4 weeks of handling.A large portion of time takes an estimate of real estate.

Mortgage handling is more difficult to build a house.For this type it is necessary to have a project and budget of the construction, according to which the bank then determines further steps.The client should count on 5 to 6 weeks of approval.You also need a project for the reconstruction of the property, the mortgage device takes about a week less than the construction.