The rights to a real estate property that are held by the person who owns the property (house, land, apartment etc.) are given to a bank in order to receive other benefits in return. These benefits are usually cash benefits. The mortgage is used in banking as security for loans. The possible amount of the mortgage is determined by the value of the property. Mortgages can be given by banks. In case people need help regarding mortgages there are different branches that can help. Mortgage brokers help people to arrange the mortgage between the borrower and lender and a real estate agent helps buyers and sellers find or sell a property. Getting a mortgage has several advantages such as that the interest rates are generally lower than for other types of borrowing and that a mortgage is easy to repay due to it is repaid little by little on a monthly basis. But a mortgage can also be disadvantageous because the interest rates on mortgages are changing from time to time and can increase suddenly o the borrower has to pay …
We are sometimes asked ‘who are finance Ireland’ because people don’t know the company. In short, they are a broker only lender, this is yet another reason you should never go to a bank directly, they couldn’t tell you about their rates and products if they wanted to and in this instance their prices are amongst the best there is!
Bank loans in Bulgaria
My name is Hristo Dimitrov. I’m a student from Varna Bulgaria.
How to pick bank loans in Bulgaria
In Bulgaria you can borrow relatively easily for an apartment and pay it off within 30 years. The maximum loan amount for the banks are up to EUR 200,000. Also, Bulgaria has low interest rates compared to other countries. The best conditions for buying a home are on Postbank
And DSK Bank.
For specific rules and percentages, you can look at them.
APR at individual interest rate selected for the purposes of the example * – 3.66%
An example of a fixed interest rate for the last 3 years and a variable interest rate (benchmark interest rate + margin) for the remaining term of the loan when included in the DSK Coz Plus Sales Prohibition Program.
The long-term interest rate for the implementation of the DSK Coz Plus program can be set in the range of 3.00% to 4.49%.
Amount of credit
Term of the loan
Hello my name is Hristo Dimitrov. I’m a student from Varna Bulgaria. I’m new to Irish Mortgage Brokers.
Today my topic is how to buy properties in Bulgaria
-First time buyers
When Bulgarian people are buying a home, they have some problems researching the right home for themselves.
They are also not familiar with how to buy a home. They always have problems and some may come across real estate fraud. So I will show you some helpful tips to follow:
Estimate your budget.
It is important to know how much money you are willing to spend on buying an apartment and navigating the cost of housing in your city.
Don’t do it yourself
Get a mortgage. If your own funds are not sufficient but you have a stable income, get a mortgage. Today, banks issue loans for ten to thirty years.
Get ready – wait for a new building.
Primary housing, that is, apartments in new buildings, are, on average, cheaper than second homes. They also have no legal history. And if the developer sells the property, …
The Irish Times reports that the County Council of south Dublin has a plan to build 500 new affordable homes. This is the first time a plan has been put in place to build affordable housing in south Dublin for well over a decade. The houses are planned to cost roughly €300,000. Therefore, for first time buyers, in order to purchase, the home buyers would have to place a down payment of €30,000. However, the home buyers could also benefit from the Help to Buy Scheme. Since the home buyers are purchasing affordable housing that is less than 500,000 euro, the first time buyers could receive a tax rebate of 5% of the 300k if the home buyers take out a mortgage of at least 70% of the home’s price. This €15,000 rebate could be very beneficial to most first time home buyers. In addition, the Irish Times predicted that the affordable homes will be 40% less than market price, a significant savings.
As reported by the Irish times, the homes will be available in three locations. The first time …
House moving can be overwhelming. Here are different types of mortgage options for you to try out.
Portable Mortgage – You can move your current mortgage to your new property using a portable mortgage. You probably have to fill out a request to switch and you may have to increase the size of your mortgage if the new home has a higher property value than the old home. Watch out for a higher interest rate in the new loan. Remortgage with current lender – This method can help the home mover find better rates, but there are other costs associated with this loan that make up for this. Depending on how deep you are into your current mortgage, the fee for remortgaging with the current lender is usually a cost between 1-5% of the previous mortgage. Exit, arrangement, and valuation fees may also apply. Remortgage with a new lender – This mortgage helps because it pays off your existing mortgage. You may also be able to sell off your old home. If the property value in your area has risen, …
Self Build Mortgages are different from typical mortgages in the fact that it is difficult to put the key in the door immediately. These homeowners typically build their home from scratch or have to extensively renovate their property. If you are thinking about building here are some helpful tips:
Maximum Mortgage – The most one can borrow is 3.5 time their annual total income. Self-build properties are calculated by adding the site price plus the build cost plus. The banks also calculate the final valuation once the building process is completed. Most of the time, the method which yields a lower mortgage value is the method that is picked. Extra Money – It is smart to make sure to have extra money set aside in the case of unforeseen expenses. A smart bet would be to set aside approximately 10% of the total cost. You don’t have to be an expert to apply for a self-build mortgage. You also don’t need to hire a company to undertake the project. Building yourself will save you money in the long-term and can …
A tracker mortgage is a mortgage that has its rate tied to the European Central Bank rate. AIB and other banks looked to force people as many people as it could off of loss-making mortgages. After the market crash in 2008, it became expensive for many banks to borrow. The banks hurt themselves a lot with bad lending practices before the market crash. Once the market did crash, many of the mortgages were actually costing the banks money.
Instead of taking the financial burden, many of the banks looked to be sneaky. They looked to push people off of the mortgages in questionable ways. The Irish Times estimate that scandal costs have surpassed 1.5 billion Euro.
What is even more crazy is that financial services knew about the banks being suspect. Many people went to court and lost. However, it is believed that many of the banks had a voice on these committees.
PTSB and Springboard Mortgages were the first two banks caught in the scandal. It is estimated that 1,400 people had their loans mismanaged by both companies. Some …
The United States government wants mortgages readily available for people in the market for a new home. In order for mortgages to be available, banks would have to have enough capital to make such loans. In effort to support banks, the United States Congress has federal mortgage organizations to monitor and support the mortgage market. Three federal mortgage organizations that exist are Fannie Mae, Freddie Mac and Ginnie Mae. While these may sound like foolish nicknames for government-created organizations, these organizations are vital for monitoring mortgage banks in the United States. If too much capital is readily available from banks to the public, these government organizations buy mortgages from banks. Upon the organizations’ purchase from the bank, the Federal National Mortgage Association (Fannie Mae), for example, can hold these mortgages until a time of need or sell securities, backed by several of these mortgages, to investors willing to invest in real estate. The capital from the investors’ mortgage-backed securities purchase allows for more loans for new homebuyers, while the investors await return through the new homebuyers’ mortgage repayments. It is …
In less than a year, the Consumer Financial Protection Bureau (CFPB) is letting the “Qualified Mortgage Patch” (QM Patch) expire. Why does this matter for first time buyers?
The QM Patch states that mortgage buyers must have a debt-to income ratio less than or equal to 43% in order to buy a home. This rule was created to protect borrowers from racking up too much debt. Removing the QM patch could have drastic effects for the European economy. Let me explain:
I grew up living in the United States during the Mortgage Crisis of 2007. It started with many investors looking for low risk high reward profits. They turned to the housing market to buy those loans. Banks would convert thousands of marketable securities and turn them into shares for investors to buy. They believed the investments were safe because house prices were rising dramatically during this time and credit unions gave many of these securities AAA ratings. AAA rating is the best rating a house can receive.
Investors loved these loans because they were very profitable. They started pushing the …