What Types Of Mortgages And Variants Are There?

By | November 21, 2016

In the case of a mortgage, consumers primarily think of the registration to secure a mortgage. Mortgages are rarely used in everyday business. For 90 per cent of creditors, basic debts are the more common alternative. For the mortgage always applies that a financial claim exists. If the loan secured by a mortgage was repaid, this claim no longer applies. The mortgage changes into a proprietary mortgage because a basic debt can also exist without a concrete claim in the land register. Nevertheless, this contribution is intended to bring light into the mortgage jungle, since four different variants exist.


What Is A Transport Hygiene Store?

The Transport Mortgage Library is a land charge, which can be issued both in book form and in letter form. While the backup mortgages are registered only in the land register, there is also the option of sending out a Winnipeg mortgage rates letter for the transport mortgage bank. In this case, borrowers and creditors agree that no land register entry is made for collateral purposes.


What Is A Book Mortgage?

As it has already been deduced from the name, the book library is entered in the land register. This is always the case with a backup hypothesis. It is in the interest of the creditor that “his” mortgage was entered as far forward as possible in the land register. The reason is that, in the case of a non-performing loan, the creditor’s claims are satisfied in the order in which they were registered in the land register. In mortgage lending, for example, between the 1a and 1b mortgage distinction.


If a mortgage bank grants a loan, this must be a priority and may only account for up to 60 percent of the loan value. An additional financing requirement of the buyer or builder is secured by means of a 1b mortgage, also referred to as subordinated loans. This is charged with an interest rate surcharge of 0.5 percent per year.


What Is A Backup Mortgage?

The secured mortgage bank is also a guarantee for an existing financial claim. Unlike the mortgage, however, the creditor cannot rely on the land register entry against the debtor. The creditor must provide evidence that the debtor actually has a liability to him. The security hypothecium is therefore accompanied by a more stringent accessory. Since this is not transportable – in contrast to the letter mortgage bank – it finds less application as a security.


The actual inventory, that is, the amount, of the security mortgages is also not apparent from the land register. While the Transport Hypothecary is only permitted to make an objection from other contractual obligations, an objection may also be made to the guarantee mortgage. On the other hand, it also offers a creditor an advantage: provided that a legally valid title is filed against the debtor, the mortgage can also be entered against the will of the debtor.


What Is A Letter Mortgage?

The mortgage bank is a document documenting a mortgage right in favor of the creditor. The Mortgage Letter is issued by the Land Registry and is closely linked to the claim. The creditor’s claims against the debtor can only be claimed with the aid of the mortgage bond.


A letter mortgage provides the broadest sense; a bearer bond is that that they can be passed by assignment. The consent of the debtor is not necessary. This mortgage as a burden on the property allows the owner of the mortgage bond not only to give the property to the foreclosure in the event of a loss of payment, but also to be able to access the rental income of the debtor from the property.


With the payment of the last loan rate, the post-mortgage bank changes into an owner’s mortgage library, the letter becomes the property of the former debtor.


It becomes critical when the mortgage letter is lost. First, the creditor no longer has any proof of the existence of the debt relationship. The fact that the letter existed by the issue of the letter by the land registry, but the new copy takes a longer period of time, especially since it is necessary to establish the extent to which the remaining claim was actually.