How does it work and how to apply for a mortgage annuity loan?

Among the financing formulas that are experiencing greater success in the domestic market, also because of the interesting advantages it offers, there is certainly the mortgage loan. It is a credit instrument dedicated to people who are usually excluded for reasons of registration from the offers of banks. It is a very particular form of loan that allows those over 60 years to obtain a very large amount and the bank to protect themselves without requiring the payment of numerous and heavy installments. Let’s find out how it works and what the requirements are.

How to request it

The mortgage loan is for people over the age of 60 who need a substantial amount of money . In order to access this type of loan, in addition to age, it is necessary to have a property on which no type of mortgage is required. This property, in fact, will be the guarantee that the bank will have to return the sum paid .

To calculate the amount of the mortgage life annuity, it must be considered that it varies between 10% and 50% of the value of the secured property and according to the age of the contractor. There are more and more lenders who provide this type of financing and to apply for it, you can apply for the mortgage loan from the bank or other bank by filling out the relevant documentation and submitting personal identity documents (identity card and code). tax) and the preliminary notary report of the property or the document of origin.

At this point the bank will check the presence of the required requisites and then the technicians will perform the appraisals on the property . Once this phase is over, proceed with the signatures of the deeds (it is always advised to carefully read the contract with all the relevant clauses) and then obtain the agreed sum.

Debt extinction

The debt incurred with the signing of the mortgage annuity loan can occur in two cases, always following the death of the contractor ; it is in fact a type of formula linked to the life of those who request it, which raises it from the payment of the installments of a traditional loan. At his death, therefore, the heirs can decide whether to pay off the debt (possibly activating a mortgage) and automatically become owners of the property or, alternatively, leave the property to the bank that will sell it to return the sum paid. Any surplus amounts will then be returned to the heirs.

Who agrees

Who agrees

As we could see by analyzing this tool, the bnl mortgage annuity loan is mainly for those who own a property (or more than one) and who want to exploit it to obtain a sum of money to invest. The unicredit mortgage loan, as well as those of other credit institutions, is better suited to those who have a high age, as it is directly proportional to the amount that the bank will provide. The value of the mortgage loan is not comparable with that of a traditional mortgage as this allows access to higher amounts, but there is still to be considered the obligation to return the debt with the payment of installments and related interests.

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