Once the bank has obtained the Value’s approved value, the complete home and buyer’s file is sent to the bank’s mortgage center and, if applicable, to the borrowing company along with the necessary explanations from your specialist. Mortgage to be plead your cause. These courts approve or refuse the file and send back to the bank, if any, the explanations of that decision. Do not worry however, if your mortgage specialist has prepared the file well in advance, it is very rare to be refused. You should have gone for the เอกสารกู้บ้าน also.
Verification of ownership titles
The bank and the buyer need to be sure that the property is not affected by rights restrictions legal sites, owners other than those declared, restrictions on the right to use the property. Often, it is necessary to produce a new localization certificate on the seller’s money plus a check of these titles by the notary.
Ensuring the building
Your bank requires property to be insured against fires, floods and any other accidents that can cause devaluation of the building. It is your responsibility to look for property insurance for your future home.
The money on the notary’s table
The bank sends the money to the notary who processes the documents, and you will pay the money to the notary in the form of certified or traded banker. The notary deals with the distribution of money after the act of sale and the compliance of all documents.
Final signatures
In front of the notary, you will sign the final mortgage and, together with the seller, the act of sale-purchase, on the date set in the initial purchase offer. Starting with this date, you become the owner of the house and therefore responsible for the monthly payment of the mortgage loan.
Of course, the exact procedures of each transaction may vary slightly from the scenario described here. Each bank may have slightly different policies in the different stages described but it is general guides that will help you track down where you are, and thus have more security along the process of getting the loan. Of course, there are other elements that you should know bid negotiation, local market trends, the best areas, what can happen after the purchase of the house, etc.
If you plan to buy a house, you will first have to learn some features related to the mortgage system of this country. Differences from other European countries are not very large, but there are some special elements that you need to know about.
Mortgage Rate Levels
According to data released, mortgage credit costs have increased, but at an almost insignificant pace. For example, the average interest rate on a fixed rate mortgage of 20 years has risen to 2%, from 1.9%.
However, it is no longer true that you get a lot more money for a mortgage than a building because the building societies compete with the banks with the aforementioned bridging loans with a 0% down payment. Unlike building societies, which provide loans of up to 70-80% of the estimated property price the rest can be guaranteed by the guarantor, you can get the mortgage at 100% of the estimated price.
