Taxes

The mortgage for anything, i.e. the American Mortgage, is a mortgage loan for no specified purpose. It is secured by a lien on real property (family house, flat, house of apartments) with an occupancy permit, which is in hands of the mortgage loan applicant. The advantage is to get a loan quickly without having to prove the purpose of use. In comparison to classical consumer loan it is charged with a lower interest rate, longer period of repayment, which means a lower burden on family budget or opportunity to borrow a higher amount. In addition, you can repay it any time without any penalties. The loan may be used for anything, not only to buy or invest in real property.

If you want money for anything, you may use this type of mortgage loan

• American Mortgage - facilities will be remitted directly to the account as you may wish. You are allowed to use it for anything without having to give evidence. We provide American Mortgages in the amount up to 70% of the collateral value.

This type of mortgage loan can be combined with these optional parameters

• Regressive Repayment - at the beginning of the period of repayment instalments are higher in comparison to those applied to classical annuity instalments, which you also may choose, but they are reduced in time (for people with currently high income)

This type of mortgage loan may be provided with any of these services at your discretion

• Insurance - at a single meeting to conclude a mortgage agreement you may also establish insurance for the building, construction or flat (Mortgage insurance), capital life insurance or risk life insurance.
• Guarantee of the interest rate - having received answers to your questions about your mortgage and delivery of basic documents we will reserve the interest rate effective as of the date of the delivery of the application for a period of 30 days. If in the period of the guarantee the interest rate falls, we will provide you with the mortgage loan at the lower interest rate
• Real estate appraisal - the usual price of real property to secure the loan will be done by our expert or an expert who co-operates with the bank

Documents for the establishment of an American Mortgage

• Loan application form including information about the income and expenses of the household (loans, credit cards, amount of over draft, leasing, other payment, guarantor's obligations etc.)
• Confirmation of income from an employee or a tax return stamped by the Tax Authority of the mortgage loan applicant, or that of co-borrowers or guarantors. If you have other regular income you receive along with your earnings you may give evidence thus improving your solvency.
• Documents to real property to which a lien should be established - original copy of actual statement from the Land Registry, original copy of the land registry map, ownership title to the real property showing the existing owner and information whether it is encumbered with another lien or easement, appraisal done by an expert who co-operates with the bank (if you not decide to use the services of a bank expert)

The above-mentioned list is not comprehensive, if may differ case by case. A detailed list of attachments to the Draft agreement is available at Basic Documents

Drawdown

• one off, by bank transfer to the account as you may wish

The first way to meeting

On the way to our office for the first (informational) meeting you should know:

• how much you want to borrow (the maximum amount of the mortgage loan is dependent on the value of real property to be pledged)
• what is your income (income of all co-applicants makes a total) and what are your regular expenses (i.e. insurance, construction savings, other loans, child-support, etc.)
• which real property will be subject to pledge (real property - family house, flat, housing unit - must have an occupancy permit and be in your hands)
• how much you would like to repay on a monthly basis in order not to burden you family budget too much. 
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Based on this information we will recommend the type of loan, suitable services, period of loan maturity (5 to 40 years) and Float or fixed interest rate (1, 2, 3, 4, 5, 10, 15 or 20 years, or P Plus rate bound to the annual PRI BOR rate) and make an orientation calculation.