Real Estate Loans -  Remedy or a Myth?Today the government does not solve the problem of citizens’ accommodation at the expenses of the budget and enterprises funds any more. Real estate has become very expensive and according to average family income almost the solution is a mortgage. Still it’s possible only if the government undertakes the commitment to forcefully support people in finance relation and provides various privileges mechanisms. What’s mortgage over real estate actually is?Mortgage is a secured over a house loan when the pledge - which is the base of the loan – is not turned over to the creditor (commercial banks, mortgage banks, federal or regional government), but remains with the debtor. A sale ban is imposed on the pledge real estate until the loan is paid off completely.

Mortgage credit is a long-term credit over the following property:
 • Land
 • Industrial premises with the land
 • Dwelling buildings with the land
 • Apartments

The list of the main documents to give to the bank officer:

 • Property ownership certificate
 • Constitutive document – the base for ownership (agreement of purchase and sale, exchange, gift, the protocol of auction sale)
 • The floor plan of the building and the rating plate
 • The document constituting the ownership of the patch of land: ownership certificate (permanent usage certificate, rental agreement)
 • Land patch plan with the cadastral number
 • Local administration resolution - the base for the ownership certificate.
 • Tax payment certificate, the document which will confirm that there is no land tax debt.
 • The real estate price certificate
 • For the physical person: in case the pledge item is the common property – the wife/husband agreement singed by a notary.

This is only the fundamental part of the required documents. Any mortgage bank has the credit official registration directions and may ask for some additional documents and certificates, within these directions. And unfortunately there is no guarantee that the bank will be completely satisfied with the type of the pledge and its juridical registration.

The number of problems to be solved:

 • Not all the commercial banks take real estate as a pledge
 • Not all give long-term real estate loans
 • Not all accept the only dwelling you posses and live in
 • The real estate pledge price may not be sufficient to cover the expenses of the bank

All the expenses which accompany crediting (the pledge research, your financial state analysis, certificates, loan account, and etc.) together with high rates will comprise the sum almost equal to this of the mortgage itself.  
 

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Credit card is the most convenient way to get money wherever you are – either at home or abroad. This is also a stable warranty that you may buy everything you want at the very moment.

You won’t need to wait for the salary or borrow money from any one – financial freedom and independence are our best friends.

The Terms
Generally the terms of official registration of a credit card are rather simple in any bank – you should have a permanent work and stable income. To receive a card you will have to fill an application form in any branch of the bank you’ve chosen. The available credit limit you will know at once and in several days will become a credit card owner.

You may use any sum within the credit limit which is a renewable one – after the credit card debt repayment your account increases according to the sum pay off. And the rates are added on only according to the real sum you used.

You may also choose an option of credit card debt repayment grace period. The terms of operating differ only in the period of repayment, rates and the process of official registration are the same.

How to pay off a credit card debt

1. General conditions
 The credit card debt usually consists of two parts – credit debt and rates for the card usage. The credit card debt may be paid off in any time within the credit treaty validation. The rates are charged monthly and are to pay off during the month. In case of the inopportune repayment the Holder is charged with the fines and the credit card itself is blocked.

Paying off the debt the Holder should remember that the money go to compensate the fine first of all. To find out a credit card debt you may merely call to the office any time.

2. Grace period
The crediting on preferential terms implies the absence of the rates. The validating period of free credit depends on the time of the purchase and comes up to 50 days.

If the client does not pay off the debt in time then the rates are added according to conventional rules for the whole debt sum since the time it came into being.

The monthly payment consists of:
 •  Particular percentage for credit debt according to the state on the last working day ultimo.
 •  The whole rates sum charged for the past month

Remember that in case you loose your credit card you should get in touch with the bank officer by the phone at any time and to block your card.
  

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The procedure of bankruptcy (debtors’ – either a person or an enterprise - inability to cater for lenders’ requirements) is extremely unpleasant to any businessman and effects apparently the enterprise in general and its workers in particular. The fact of insolvency may be established only by the judicial decision:
• For money obligation ( goods, work, service payment)
• For obligatory payments to the budget and out-of-budget funds (taxes, duties)

The outward feature of the bankruptcy is non-fulfilment of the lenders’ demands for the 3 months period since the set terms are due. The requirements to the debtor should exceed 1000 minimal basic salaries.

The bankruptcy may be considered either by judicial decision or by voluntary liquidation and a debtors’ official announcement about his insolvency.

The main measures of any debt consolidation are:
• Reorganization of the profile of the enterprise
• Abolishing of the unprofitable enterprises
• To sell a part of the property
• To sell the enterprise on the open auction

Whether you got in such an unpleasant situation you may surely rely upon MoneySolve company, based at Handforth in the UK and devoted to debt management and helping people out of financial difficulties.

On moneysolve.co.uk you may find out about IVA (Individual Voluntary Arrangement) – an alternative to bankruptcy which includes:
• Up to 90% debts consolidation
• Merely affordable monthly payment or a 5 year period
• Protection from the lenders’ any legal actions against you
• Getting rid of troubles with creditors cashing
• Inviolability of your professional status

You may get in touch with the MoneySolve stuff either through the Internet or by phone 24 hours a day and 7 days a week.

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Credits for physical persons – is one of the most wildly used and demanded forms of crediting, for physical persons are among the main bank lenders.
In most cases the provide credits for physical persons without deposits and rarely ask for warrantors. For Banks persons crediting entails greater risk for the credit does not have a liquid deposit. So a physical person longing for a credit should take in account that just a permanent work and stable salary is not enough to get a positive decision about consumers’ credit.

Crediting is constantly becoming more and more popular nowadays. Apartment repairing, car, cell-phones, equipment purchasing and so on are very popular items to take a credit for.

Kinds of credits for physical persons

• Credits for current needs, consumers’ credits
• Credit for car purchasing
• Credits for goods
• Credits for young families
• Real-estate credits

Once you’ve decided to take a credit you should think over the sum of money you need. The it’s time to choose a bank which requires visiting some for comparison. You should find a consulter for physical persons’ crediting and explain your ideas and requests. He will offer you some programs to cater for your demands. To choose the most proper program, examine each one in details.

The Questions to be Determined

The volume of the credit you may receive. To get a sensible answer you’d better have necessary information about the salary of all the members of the family to make income calculation.

What are the Credits Rate

A very low rate should put a customer on his guard for any bank will never loose its profit. Probably the banks profit comes with the services accompanying the crediting.

What is the Commission and the Price for the Services

Receive the count for all the services (consultation for the credit, considering the credit application, opening of the crediting account, valuation of deposits). The optimal monthly payment should be about 15-25% of the whole family income. If your calculations compile more you may have some financial problems.

Whether You’ll Need any Warrantors and How Many

It’s better o choose a credit without warrantors or at least with the lest number of them. Warrantors are in chare for the repayment of credits. You may unwillingly put them into an awkward situation.

The terms of the Credit

Try to compare your income with the terms and the kind of crediting.

What does the Bank Require for Deposits, or it doesn’t Require any Guaranties at All

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