Many people are afraid of home loans because they think they will “concretize” themselves into a contract for a long time and may eventually find themselves in a difficult situation. But these constructions are actually very flexible and can be customized in many ways to suit the customer.
There are life situations that require a change in your credit agreement
Just one of many is when a couple borrows a loan but goes their separate ways and one of the parties would buy the other because he or she stays with that apartment or house. Banks give room for change, though in many cases, such as early repayment, they charge a price.
Let’s see what we can do during the race!
We can change who pays and for how long
- Change the tenor himself
If you get a larger sum of money, it is worth limiting your payment period, as this will obviously pay you a smaller amount . There is a surcharge if you first withdraw from the loan or repay a larger amount to reduce the debt. However, it is also better to pay off sooner and pay off.
True, banks are no longer required to provide a free early repayment , but the 1-1.5% repayment fee is still acceptable. In particular, it is worth reducing the duration of non-fixed contracts.
- Real estate coverage may change
For example, we can swap the residential property for another. This is already a notarial operation, less routine than reducing the term.
The debtor, the guarantor, the mortgagor may change
For example, a debtor may be “released” from the contract, also with a modification of the contract and with the assistance of a notary. Or as involvement in the release of specific policies for bank records, the submission of an application which is necessary for that purpose and that the process takes place. Without the consent of the bank, no actor can change.
The creditworthiness of the parties intending to enter into the transaction is as rigorously monitored, for example as the KHR status, when entering into a contract, as for a ‘novice’ client.