Basic level on credit
Lending itself is not a complicated process. We go to the bank, they examine us existentially, they examine the property, and then we get the money. ? Of course, this is not so easy in Hungary. There are many side-threads that can develop, so it is good to be aware of a few other important facts, people, and opportunities. In this article we will review this a bit.
Perhaps one of the clearest actors. He’s the one who applied to the bank for credit . What is important to add is that the wife / husband is a mandatory debtor. Just as the wedding ceremony said good or bad, until death died. ?
Real estate debtor
The person who assists in the credit transaction and offers the real estate he owns as collateral. If everything goes wrong, he is not liable for the loan with any of his assets, “only” with his property, but is not obliged to pay for the debtors.
He’s our dear acquaintance who pledges that if we can’t pay the loan, he’ll jump into our place. It is a bit like a real estate debtor, only he does not “risk” his property, but his money.
Contract award and disbursement conditions
The two should not be confused. since we first contract and then the bank disburses the loan . The contract is enough for the property and for us to meet it financially. Once the contract is in place, the disbursement conditions will come. There is no need to think about the devil, the bank has to be written on the title deed and you have to assign home insurance, this is easier than the terms of the contract. And we can be happy to have our new real estate.
Better to know than not
These are the “vocabulary” we simply need to be aware of, even if only superficially. In addition, of course, there are many to meet. What can we do? The easiest thing is if you do not run this procedure alone, but visit us. Not only is it our job to keep it simple, but also to make it as easy as possible for you to understand. Give us a try, no one has ever regretted it!