Mortgage debt consolidation

Have you longed to live in your own home? So far you do not know exactly how to realize this dream of having your own home? With a mortgage loan from MaxCredit you are right. Based on an analysis of your personal situation, we can tell you what opportunities arise for you.

Inform yourself quickly and free of charge

Inform yourself quickly and free of charge

We are able to create an individual offer for your mortgage irrespective of your house bank. Take advantage of our experience in real estate financing, many of our clients have been able to fulfill their dream of owning a home with our help. You do not have the capital to finance any incidental costs such as brokerage, taxes and notary fees? Also in this case, we can help you with words and deeds and eliminate these bottlenecks.

The majority of private individuals who wish to buy a house or a condominium finance the purchase of the property through a hybrid of equity, personal contribution and debt in the form of a real estate loan. The equity may consist of savings, the balance on a call money account or other bank balances. In-house services are understood as the manual activities which the client himself can carry out during the construction or during a renovation. Often the client is supported free of charge by relatives and friends.

For example, a real estate loan can be given by a bank, a building society, intrasavings bank, provincial development agencies, insurance companies and, in some cases, private loans from friends or family. In particular, all types of remedial measures or conversions that serve to save energy are often supported by the Land Promotion Institutes and the Kreditanstalt für Wiederaufbau through particularly low-interest loans. A home savings loan can also be applied for at a building society.

Financing forms for mortgage lending

Anyone who asks the bank or building society for a real estate financing, receives numerous information about the different forms of financing. For example, the institutions differentiate between annuity loans, repayment loans, forward loans or full-erred loan.

An annuity loan is a financing in which the installments payable are the same over the life of the loan. The annuity rate consists of an interest portion and a repayment portion. With each installment paid, the interest portion decreases, the repayment portion increases accordingly. In contrast, in the repayment loan, with each installment payment, the interest is recalculated to the remaining loan amount, which reduces the loan installment after each payment.

For both types of loan, the loan amount is fully paid off at the end of the loan term, which is why they are also called full repayment loans. However, no special repayments are possible during the term and the monthly rate is relatively high compared to other real estate loans.

Here you can get further tips on real estate loans.

However, there are also annuity loans where the interest rate is fixed only for a certain period of time, for example 5 years or 10 years. After expiry of the fixed interest period, so-called follow-up financing takes place. This provides the borrower with an opportunity to review other offers for mortgage lending or to negotiate a more favorable interest rate with his previous lender. Frequently, a forward loan is concluded before the end of the fixed interest period. This loan will be paid out to the borrower for some time after closing, but it can secure a fixed interest rate 1 to 5 years before disbursement. For a small interest premium, follow-up financing is thus secured at a lower interest rate and the borrower can calculate his financial charges over a longer period of time.

Hedging and costs of mortgage lending

Hedging and costs of mortgage lending

Credit institutions, building societies and insurance companies granting a home savings loan demand collateral in every case. The security is usually provided by the registration of a mortgage or a mortgage in the land register. The mortgage is always independent of the loan granted, while the mortgage is registered only for a specific loan.

In the case of a landlord’s debts, only one entry in the land register will be made, while the landlord’s letter will be issued a landowner’s note. The registration of the land charge is made by a notary, the costs borne by the borrower. Thus, the notary fees and the registration costs for the mortgage count as ancillary costs of mortgage lending. Other construction costs are the land transfer tax, construction permit costs, development costs and any costs for a ground survey for a new building. But also brokerage fees, costs for the architect or civil engineer or renovation costs when buying a property are among the construction costs.