• Credits destined to real estate acquisitions

Credits destined to real estate acquisitions

When it comes to deciding to take a credit many of you may have a lot of questions. It is true that there is a rich offer and the characteristics of each vary from one bank to another.
A frequent question concerning the credits assigned for the real estate domain is :
Real estate credit or mortgage credit???
We hear very often these terms and many of us wonder which are the differences between the bank products they name.
Certainly, both the real estate and the mortgage credit are destined to the acquisition of dwellings.
The syntagm of mortgage credit is more recent and has been introduced when banks started developing a crediting product by which they accepted as guarantee also the mortgage on the building purchased.
This regulation has made the credit market explode due to the great number of people interested who have fulfilled the conditions of receiving such a credit.
While the mortgage credit can be guaranteed with mortgage on the building purchased, the real estate credit can also receiev other types of guarantees. Because of this characteristic a real estate credit can also be acquisitioned for the construction not only for the acquisition of buildings.
There is no fundamental difference between the mortgage credit and the real estate credit, but the manner of interpretation for them varies according to the bank.
By law, the names of mortgage credit and real estate credit are based on different laws. While the mortgage credit is stipulated by the law 190/1999 which Casa Pitas presents in the section legislation, the real estate credit is legitimated by the Civil Code.
Regarding these credits there are two frequently asked questions:
Can I change my job during the period of credit?
During the credit contract the beneficiary can change his job. Depending on the bank he has closed the contract with it is possible to be required a notice of the job change or other documents that the bank will inform you of.
To avoid misunderstandings concerning this aspect it is recommended that you ask information from the bank operators about the possibility of job change.
Are ther banks that offer mortgage or real estate credits for investitors?
Neither the law of real estate credit nor the bank law prohibit the assignment of credits destined to investments. Taking into account the fact that the buildings purchased for the investment present a certain amount of risk since at the moment of initiating the credit there are no contracts to prove the realization of income, it is possible that the interest rates assigned in this case get higher.
For further information about the offers of real estate credits and the way in which to react, the consultants of the Real Estate Company Casa Pitas, with experience in transactions through credits, are available.

Informatie oferita de echipa Casa Pitas