Securing a Mortgage
So how do you get an apartment for a long time, it is necessary to protect yourself and all your loved ones from unforeseen situations. You must insure that apartment that you purchase on credit. And that is why when a loan you must insure your apartment. After all, the weight of life contingencies. For example, a house can burn, and apartment come into disrepair.
Also, the bank requires a purity of legal transaction. After all, if some distant relatives of your salespeople will encroach on your property, the insurance company is obliged to reimburse the bank. Also, in order to secure your mortgage, you must insure the person to whom it is issued.
Repayment of the Loan
After all, if the payer is unable to work, and will not be able to repay the loan, the entire family will be able to evict from this shelter. That’s insure yourself, you will avoid such an unpleasant fate, and even if something happens to you, the costs incurred by this insurance company that you have insured their lives. It may be partial contributions if you suddenly fall ill for a certain amount of time. It is necessary to maximize safety to worry about yourself.
In general, insurance is now a prerequisite for obtaining a mortgage loan. It happens when the client even before the desire to take a mortgage, insure your life in one of the insurance companies. But the insurer to change its new does not want to. In this case, he needs to find a financial institution, where his choice of SC will treat with understanding. After all, the bank credited you may already have a partner company.
Personally selected and prices of different insurance risks. As usual, the rate of insurance home hovers around 0.3-0.5% of the amount of insurance. The final size of it depends on many factors. These include, inter alia, include the condition of the house, its technical performance, and others.
In turn, life insurance and disability client as unique. On average, changes are recorded at the level of 0.3-1.5%. Influencing factors are the age of the borrower, his professional activities, health, etc. In some cases, banking institutions insist on applying for insurance for the co-borrower. This occurs if the consideration of the application are taken into account his income.