It is also worth familiarizing with the terms of currency conversion. How often is such an operation possible? What course? What are its costs and how long does it take? This information is important for people tracking exchange rates, because converting loans at a good time when the rate is low will mean a lower installment. You need to have very less of เอกสารกู้ซื้อบ้าน .
Different repayment methods: equal or decreasing installments
It depends on us whether we pay monthly installments in equal amounts, or, for example, decreasing installments lower each month. In the case of decreasing installments, the initial burdens of the household budget are slightly higher, but we will pay back the capital more quickly and thus we will pay less interest throughout the loan period.
Insurance in the event of loss of a borrower’s job or life
It is also worth paying attention to whether insurance is offered to insurance packages, for example real estate insurance, life insurance, loan repayments at the time of job loss or serious illness. Housing loan is a commitment for a long time, but thanks to the additional products offered, security it can become simply more secure says the expert.
Early repayment of the loan
It is also worth finding out whether the loan can be repaid earlier and on what terms. This is important information. If in a few years our financial situation will improve and we will be able to settle debts to the bank, it is worth knowing whether we will pay a commission for early repayment of the loan and possibly in what amount. We can often find a situation in which the overpayment of a loan is payable or only possible after a specified loan period.
Do we need to create an additional account, debit card, etc. in a selected bank for the loan?
Each bank has its own rules. Some require that, in addition to a bank account, they also have a debit card, a savings account, etc. in their bank, while others do not. It is also worth knowing how much it will cost us to maintain such an account or other banking products.
Fee for granting a loan: commission for a bank
Another significant cost of the loan is a commission for the bank for granting us a loan for a flat. Its height can vary from 0.5 to even 2.5 percent loan value. Most often the bank counts it for a loan. But it also happens that we have to take into account a one-off, considerable expense.
If we are a regular customer of a bank where we intend to take out a loan, it is worth negotiating the amount of margin and commission. The reduction may be influenced by whether we are regular customers of the bank and we use other of its products: personal account, credit card, etc.
Bridge insurance – how much it costs
Before the real estate mortgage will be charged to the bank, the client must also bear the additional cost of the so-called bridging insurance. In some banks, instead of insurance, a higher interest rate on the loan is accrued at that time. – It is worth knowing how it is in the case of a bank whose offer we are interested in. How long we will bear this cost depends on the speed of the court and the issuance of an entry in the mortgag