1) What does the word loan?
The mortgage is a transfer of a sum of money from one person (called the lender and generally consists of a bank) to another party (borrower), all "under consideration", the debtor must pay the lender the 'economic value whereas the interest paid.
2) under the terms established by Italian law, how many years can take a mortgage?
According to what is established by Italian law, the loan should be considered as a type of financing a period characterized by medium / long. In principle, the mortgage can last from five years to a maximum of 30-40 years.
3) you can pay off your mortgage in advance?
The Italian law gives the borrower the opportunity to pay off the mortgage in advance, subject to the clauses in the contract. In principle, such a procedure results in the penal institution to pay a certain creditor, usually measured as a percentage of capital you must still pay the institute.
4) what is the function of the Tan and the APR?
the APR and Tan are two parameters to know the costs associated with the loan, it is also very useful for the development of comparisons between the different solutions to the mortgage market offers. Tan shows the interest that the debtor will have to pay to the lender, the APR also considers all incidental costs associated with the loan.
5) which appear to be the essential requirements to start the preparatory stage for a mortgage?
order to apply for a mortgage, it is necessary to have the age and place of residence in Italy.
6) What are the most important types of existing mortgage?
are discernible different forms of mortgage. The two most common forms are represented by fixed rate mortgage and variable rate, characterized by a rate that remains unchanged to changing market conditions and one which, otherwise, it is affected. Derived from the forms described in more types of mortgage.
7) What are the elements that lead to distinguish steady rate and rate of admission?
The entry rate is a rate that is often applied during the first months or years. The rate scheme is calculated as the sum of bank spreads and Euribor and marks the funding for most of his life.
8) What are Eurirs and Euribor? The
Eurirs and Euribor are the parameters used to calculate, respectively, the ratio of fixed-rate mortgages and that of variable rate mortgages.
9) What does the bank spread? The bank spread is a value that varies from bank to bank and which, taken together with Eurirs or Euribor, lets you know what the value of the rate applied to loans at a fixed or variable rates.
10) what is the meaning of the capped rate?
The term "capped rate" refers to a particular form of adjustable rate mortgage. The cap is a parameter that indicates the maximum interest rate applicable for the loan.
11) In what is the role the mortgage?
Mortgage is a collateral advantage of the funding and allows this to retaliate against an asset of the debtor in insolvency; usually falls on housing for the purchase of which was on the mortgage.
12) which is the highest amount that can be funded?
Usually, the maximum amount payable by a credit institution does not exceed eighty percent of the real estate value of the unit. If the debtor offers to the bank some additional assurances, however, limit the amount that can be financed may reach the totality of the real estate unit.
13) What is the repayment plan?
The amortization schedule is a schedule that shows the full set of rate on the mortgage and indicate, for each of them, their respective share of principal and interest.
14) for the preparation of the loan agreement required the presence of a notary? Yes
The Italian law requires that the loan agreement should always be written in the form of an official record.
15) What are the costs of expert?
During the preparatory stage, the bank shall appoint an expert to assess the worth of trust property for which you are applying for a loan. The expertise that results leads to a charge of responsibility of the individual who requested the loan to be added to other expenses associated with the investigation stage.
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