Which Bank is best for MortgageWhat is the best bank for a mortgage?
You can find more information on our page about mortgage products in Italy. As soon as the best mortgage has been selected, the mortgage provider will ask you to go through an interview procedure that is usual for all Italians. First thing you need to know about Italians is that all creditors ask you to fill out an online claim in your favorite size.
Claim documents may vary in format and design from creditor to creditor, but there will be a significant duplication as all creditors operate under the joint regulator standards. According to the creditor, an enrolment request can be up to 4 pages or possibly up to 25 pages long.
After completing the claim dossier, the claimant must provide a number of documents. In fact, it is not routine for creditors in Italy to use the loan score of a lending agent, but they favour the more individual way of gathering directly from mortgage seekers information on Italy's mortgage portfolio.
Financial status proof, which will certainly contain bank and credential cards for at least the last 3 month for each bankroll you have. Certificate of ownership of the land, which includes the provisional contract for the sale and transfer of the land plot, a copy of the initial title document, a copy of the land register with an indication of the size of the land plot and all pertinent design documentation.
Evidence of the assets is also necessary to demonstrate that you have adequate resources to cover the balance between the lender's mortgage on the value of the bid and the full sale consideration, as well as real estate tax and attorneys' fees payable on the sale. The bank's finance advisor will go through your request and your receipts, now referred to as "the dossier", to see if you can pay back the mortgage, if you are in good health and if you do not have an adverse record in a regulation and/or solvency databank.
Once the investment researcher is satisfied with the investment research, he will request a real estate inspection and appraisal, as well as a notary' s preparatory work. Loan lenders commission an expert appointed by them to carry out a physical assessment of the buildings and to assess the value of the real estate.
Remember that this assessment may be lower than the sales value you have agreed, as the creditor will always ask the appraiser to assess the value of the asset to the extent that it can be sold in 3 to 6 months when it is taken back. As a rule, in Italy the costs of the poll are billed to the debtor and are due even if the debtor chooses to cancel his credit request and/or the bank chooses not to grant a mortgage.
Ultimately, the information required by the bank is a draft public notary's statement drawn up by a public lawyer elected by the client, although some have a limited number of public lawyers. This is a descriptive text of the characteristic. Certificate of the real estate's title according to the land registry.
Pre-judicial registration or transcription such as mortgage, foreclosure, seizure, judicial order, etc. Following the initial assessment, the finance consultant examines the mortgage file, the results of the interview and evaluation and the content of the notary' s drafting. Once the investment manager is satisfied with the file, he forwards the request to the Subscription Board for approval of the mortgage and for the submission of a mortgage proposal in the manner prescribed by law.
Should the finance consultant be dissatisfied with the file and not be able to dispel his concern with additional information, he will refuse the mortgage request. According to Italy's legislation on consumers, the mortgage offering is a legal instrument in the shape of a legal instrument recorded by a civil lawyer and which must be declared: Interested persons, the bank and the borrower(s).
Fire and explosions insurances depending on the value of the real estate. Notary fees that are based on the mortgage amount.