Documents for Mortgage loan Surrogate: what you need to transfer the loan

 

The subrogation documents include the deed of purchase, the copy of the mortgage registration, the identity card and the tax code of the principal mortgage holder. With this documentation it is possible to concretize the portability of the mortgage from one credit institution to another.

Mortgage subrogation: how it works and who can apply for it

Mortgage subrogation: how it works and who can apply for it

After giving the main information relating to documents for mortgage subrogation, we get to the heart of the characteristics of the case.

The subrogation of the mortgage is a solution that allows you to transfer the loan to a credit institution other than the one where it was started. This way you can save money by reviewing aspects of the plan that range from the rate to the spread.

The subrogation of the mortgage is governed by the Cogilaw Company, passed in 2007. This legislative text provides for the free operation of the operation. The portability of the loan therefore does not entail any expense for a notary, appraisal fees or investigation fees.

To be specified is that it can be requested by any borrower. In general, the bank requires a wait of up to 18 months from the start of the amortization plan. In this way it has the possibility of having an effective pulse on the creditworthiness of the customer.

Mortgage subrogation: the conditions to be met

Mortgage subrogation: the conditions to be met

Finding out what the documents are for mortgage subrogation is important. It is equally important to examine the conditions necessary for the validity of the contract. We begin to list them starting from the main.

What do you expect? The fact that all the conditions of the new mortgage must be made explicit in a contract drawn up by a notary.

Another fundamental aspect for the subrogation to be valid calls into question the destination of the sum financed. The aforementioned must be repaid to the new bank, known in technical jargon as the ‘surrogate bank’.

Last but not least, the condition concerns the receipt issued by the surrogate bank, that is, the original mortgage. The origin of the amount used to cover the financing must be clear on the document in question.

Subrogation rules, timing

Subrogation rules, timing

The borrower interested in transferring the loan must comply with specific rules regarding documents for mortgage subrogation. What are the obligations of the lender instead?

The surrogate bank, upon receipt of the request, is required to complete the transition within 30 days. In case of violation of this term, penalties are imposed.

In order for this to happen, the surrogate bank must accept the transfer of the mortgage, which is not automatic.

Types of surrogate: difference between bilateral and trilateral

Types of surrogate: difference between bilateral and trilateral

Another fundamental technical aspect to remember after collecting the documents for mortgage subrogation is the difference between bilateral and trilateral subrogation.

In the first case, only the debtor and the surrogate bank are involved in the contract. In the second, however, there is also the surrogate bank.

The first type of subrogation takes place in two phases and involves the stipulation of a new loan contract and a deed of receipt. The trilateral subrogation, on the other hand, is characterized by the drafting of a single notarial deed.

Take out credit card

Taking out a credit card seems so easy. Nevertheless, there are certainly a number of things that you should take into account when you are going to take out a credit card . The difference between taking out a revolving credit or a personal loan and taking out a credit card is quite large. You generally have the cheapest revolving credit if you look at the lowest interest rate. This is arranged differently with the cheapest credit card. A credit card can have many more properties than a personal loan or a revolving credit.

With a credit card, for example, you can also be charged monthly costs. So you need to pay much more attention to multiple facets. It is therefore difficult to provide clear and fair comparisons. This will not improve much in the future. Veer comparison sites will probably go offline, as they need a license from the AFM on 17 November to maintain a comparison site.

Take credit card points out of consideration

Take credit card points out of consideration

As mentioned, there are some things to keep in mind if taking out a credit card is a good option for you.
We have listed them below:

  • Interest rate
  • Card costs (per month and per year)
  • Extra insurance

The first two probably speak for themselves. The latter may need some explanation.
What we mean by this is that there are also credit cards that ensure that your purchases are automatically insured. This gives you extra security with your credit card if you purchase a certain product with your credit card.

Is taking out a credit card safe?

Is taking out a credit card safe?

An important consideration for many consumers not to take out a credit card. There is much doubt about the security of the credit card. It also seems that it is easier to make purchases with a credit card because it does not require a reader to use the credit card and to spend money with it. This is certainly something that is true. If a credit card is found, it is easy to spend with it. It is not always necessary to enter a pin code if shopping would take place online. This makes a credit card more sensitive than other cards.