Last time, is increasingly heard: "I want mortgages."
But mortgage and loan-different concepts. The term "mortgage" means mortgage, and specifically credit received on bail of a debtor's assets and money credit is issued to creditors for repayment conditions, and payment of urgency.
It is not always money is that there is a need to lay something: Pledge procedure itself requires certain costs, and these are not always cost-justified.
Mortgage. Mortgage loan.
So, a little theory.
Mortgage-word of Greek origin, meaning, in the pledge.
In our conversation we will talk about mortgage lending, in the case of real estate.
That is, say "mortgage" and understand that credit is issued against mortgage.
A lay-loan real estate. Can settlement with the bank bail-go, no-inherent property can be sold, and proceeds from the debt will be charged to the Bank, including interest for the use of credit.
They say "mortgage" understand "pledge."
Let's talk about the terms in more detail.
Mortgage is the mortgage. There is the mortgage bond, no collateral, no mortgages, and credit is not a mortgage.
To better understand the difference between the mortgage and no mortgage, cite:
Bank credit on bail of available apartments, "consumer credit", which the borrower can use for just about everything.
This is a mortgage loan?
Mortgage!
Even though the borrower may spend the money for any purpose: mortgage is the key.
Example Two:
The borrower bank credit to buy an apartment. Bail is not required acquired apartments.
Such a mortgage loan, or not?
No, this is not a mortgage: a pledge of no means no mortgage.
Which is more important: mortgage or loan?
Which is more important to the borrower-buyer flat: a loan or mortgage?
Of course credit! There is a shortage of money-taking the credit.
And more importantly for the bank?
Mortgage!
Because the mortgage is the key.
Bail is a way of ensuring commitment: not return a borrower loan-collateral is sold subject. And Bank, the inherent value of the assets will offset its losses, and returning the loan, the borrower and unpaid interest.
Loans: trust and not trust
With mortgage, as you know, you can get additional benefits on taxation. Want to use the tax incentives provided in mortgage lending? That possibility is there.
What are the benefits in question, what I describe in some detail on page Priyatnosti mortgages
Let me just draw your attention to the fact that benefits for the borrower's mortgage lending is not for the fact that the borrower purchased using credit apartment: it is not enough. Benefits are provided for the loan borrower spent for the acquisition or construction of housing and the loan trust! What does it mean to "target"?
Take credit "for immediate needs" bought an apartment not trust credit: no concessions;
if, however, took credit for the purchase of real estate properties and the acquisition of its spent - and then have the right to benefits.
They say "mortgage" understand "credit".
Butter Sandwich without happens, a mortgage without collateral?
?
What do we mean by "mortgage"?
Turning to the bank for a mortgage (with the mortgage), who are interested in little collateral!
Purpose-apartment to buy a flat-needed money, their money is not enough, take the credit.
So?
(Interesting look at the person who is not drawn to the bank to get a loan and to pay bail in the apartment!)
Therefore, when a borrower is drawn to the bank for the mortgage, the employees of banks offer mortgages as well as mortgage loans is not: it is the objective of the borrower-house, the borrower mol what difference will be mortgage (mortgage) or not?
The borrower-credit: This is what you want! A mortgage in the sense of "collateral" is not a goal of the borrower.
As part of our continuing conversation, I too will not adhere so strictly correct interpretation of terms.
The aim is to purchase and, therefore, talk of a mortgage we will be as a loan, regardless of the fact whether a pledge of an apartment or not.
At the same time, draw your attention to some fundamental points:
* In the real estate mortgage as soon formalized in the borrower's property. (And not when the borrower Has with the bank.)
* Bank could not on its arbitrariness confiscating the property the borrower.
The borrower may lose its only real estate laid by the court, and then only in the event that violates the credit agreement.
And ways of acquiring apartments in installments, in which the buyer can live in an apartment, paying for only a fraction of its value, but will not be the owner of the apartment until it pays the full cost, we will not consider. This is certainly not mortgages.
