The bank loan is the main form of loans that banks offer in the medium to long term. The legal and financial make the product functional purchases of property, in particular the dwelling house.
The loan has its legal form into a contract under which the bank (lender) transfers to the other party (borrower) a certain amount of money, with the obligation to repay the same amount (principal) plus interest (interest) by a certain date. The return takes place gradually through periodic payments, and that the loan installments, following an agreed plan.
The mortgage loan is where the reimbursement from the bank is secured by a mortgage on a specific asset, usually the property purchased.
To understand the operation of the product and the opportunities offered by the different types on the market and, more importantly, to assess properly the costs and risks borne by those who request it is necessary to identify the main elements of the loan.
The loan is a contract that has effects over time. The repayment of principal and interest payments are events that are to be completed by a certain date. The time limit is up to the parties' choice and should be defined in the contract. Usually ranges from 5 to 30 years, although today the market offers, although not so widespread, there's also some loans that at age 40.
The choice of duration is important as the same depends on the amount of the installment for the share capital and to that interest. With the same amount granted, shorter durations determine rate higher, but lower interest. Instead, longer maturities entail higher interest rate but they serve to dilute the return of capital and therefore weigh less income tax rate.
interest is the fee that banks need to face the loan. Are determined based on a percentage rate to be applied to the capital paid for the duration of the loan. The rate of interest must be expressly provided for in the contract.
The rate is determined based on parameters found on monetary and financial markets, to which the bank adds a premium (spread). The magnitude of this increase, which represents the difference between the benchmark and the actual rate, increases in relation to the duration of the contract. The rate may be
fixed or variable. Usually, the benchmark for the first is the Eurirs (euro interest rate swaps) for the second EURIBOR (euro interbank offered rate).
The interest rate that is fixed because, once agreed, remains the same throughout the duration of the contract. The variable rate, however, follows the trend of the financial parameter reference, which means that the extent of the interest to be calculated on the principal outstanding will change, rising or falling, until the expiration of the loan, with impacts on the amount of payment rate.
At the same time, in general, the fixed rates are higher than those variables, but does know con certezza l’ammontare del debito complessivo e delle rate periodiche.
La rata è la somma che il mutuatario, cioè colui che ha ricevuto il mutuo, versa periodicamente per la restituzione del prestito. È composta di una quota capitale, a titolo di restituzione del prestito, e di una quota interessi, in ragione dell’applicazione del tasso. Il rimborso avviene secondo cadenze temporali determinate dalle parti, che possono assumere frequenza mensile, trimestrale, semestrale, annuale.
L’importo della rata dipende dall’importo preso a prestito, dalla durata del contratto e dal tasso di interesse applicato. A parità di tasso e di importo, la rata diminuirà in ragione di una durata del contratto more prolonged.
The payment of the installment is an important event in the pattern of relationships between bank and borrower. Delays in meeting deadlines may apply additional charges (interest) and, in severe cases, termination of contracts by the bank, accompanied by a request for immediate repayment of outstanding principal. The reimbursement amount paid
develops in time according to a plan, called amortization, which specifies in detail the amounts paid and deadlines to be met in the payment of installments throughout the duration of the contract.
The most common type of depreciation is that the French, where the rate, while remaining Still, expect a downward component to the interests and increasing the capital as we approach the end of the loan. This means that at the beginning of the installment consists largely of interest, which can have significant weight in the case of long-term loan. In the latter case, the principal outstanding is divided by a greater number of repayment.
There are alternative forms of depreciation, which increase the flexibility of the product compared to the choices of the borrower. For the increasing rate plans (which increase over time), were added to those free reimbursement (payments are made up of interest and principal will be repaid in amounts not at certain predetermined intervals) and, finally, those with variable duration (the rate remains constant but the duration of the plan may be reduced or lengthened depending on the development of variable rate). If
expected increases in income in the future, increasing the installment plan can be an opportunity. If you prefer a variable rate but want to maintain a fixed tranche, the amortization term variable is an alternative to be examined. The schedule of repayments
also affects the ability of the borrower to repay the capital in advance, in whole or in part. The use of this option reduces the cost of the loan in its interest component. The real benefits however depend on the choice of depreciation and when you intend to use that option.
With the recent legislation (Decree "Bersani" No 7 / 2007, converted into Law No. 40/2007), the prepayment was made easier by the elimination for the future of the penalties applied by the banks, for loans entered into prior to entry into force of the Decree (February 2, 2007), is provided for the reduction of those already established.
The mortgage is a form of guarantee that relates to real estate, as the dwelling house. Up the mortgage, which requires the intervention of a notary, gives the bank the right to act on the property pledged in case of non-repayment by the borrower. The mortgage does not affect the enjoyment of the goods by those who have purchased through the loan, but it represents a constraint in case you decide later to sell it.
interests are not the only item of cost which the applicant must meet for the loan. The banks are used to apply additional costs in an amount may also be significant. The costs most often relate to the investigation of the matter expertise on the property that is acquired, the collection rate of the individual as well as premiums for compulsory insurance to cover damages on the property arising from the occurrence of disasters (eg fire).
All these costs affect the overall cost of financing, the question not to be overlooked especially when choosing between different products offered. To ensure that comparative information is, banks must disclose a summary indicator that expresses the overall burden of the loan, the synthetic indicator of Cost (ISC), similar to APR for loans provided in the form of consumer credit. The measurement of ISC - precisely because it also incorporates other charges - is usually higher than the interest rate.
In case of purchase of the house, planning costs must also take into account those relating to the notary, taxes and, possibly, the commissions payable to the agency.
The loan has its legal form into a contract under which the bank (lender) transfers to the other party (borrower) a certain amount of money, with the obligation to repay the same amount (principal) plus interest (interest) by a certain date. The return takes place gradually through periodic payments, and that the loan installments, following an agreed plan.
The mortgage loan is where the reimbursement from the bank is secured by a mortgage on a specific asset, usually the property purchased.
To understand the operation of the product and the opportunities offered by the different types on the market and, more importantly, to assess properly the costs and risks borne by those who request it is necessary to identify the main elements of the loan.
The loan is a contract that has effects over time. The repayment of principal and interest payments are events that are to be completed by a certain date. The time limit is up to the parties' choice and should be defined in the contract. Usually ranges from 5 to 30 years, although today the market offers, although not so widespread, there's also some loans that at age 40.
The choice of duration is important as the same depends on the amount of the installment for the share capital and to that interest. With the same amount granted, shorter durations determine rate higher, but lower interest. Instead, longer maturities entail higher interest rate but they serve to dilute the return of capital and therefore weigh less income tax rate.
interest is the fee that banks need to face the loan. Are determined based on a percentage rate to be applied to the capital paid for the duration of the loan. The rate of interest must be expressly provided for in the contract.
The rate is determined based on parameters found on monetary and financial markets, to which the bank adds a premium (spread). The magnitude of this increase, which represents the difference between the benchmark and the actual rate, increases in relation to the duration of the contract. The rate may be
fixed or variable. Usually, the benchmark for the first is the Eurirs (euro interest rate swaps) for the second EURIBOR (euro interbank offered rate).
The interest rate that is fixed because, once agreed, remains the same throughout the duration of the contract. The variable rate, however, follows the trend of the financial parameter reference, which means that the extent of the interest to be calculated on the principal outstanding will change, rising or falling, until the expiration of the loan, with impacts on the amount of payment rate.
At the same time, in general, the fixed rates are higher than those variables, but does know con certezza l’ammontare del debito complessivo e delle rate periodiche.
La rata è la somma che il mutuatario, cioè colui che ha ricevuto il mutuo, versa periodicamente per la restituzione del prestito. È composta di una quota capitale, a titolo di restituzione del prestito, e di una quota interessi, in ragione dell’applicazione del tasso. Il rimborso avviene secondo cadenze temporali determinate dalle parti, che possono assumere frequenza mensile, trimestrale, semestrale, annuale.
L’importo della rata dipende dall’importo preso a prestito, dalla durata del contratto e dal tasso di interesse applicato. A parità di tasso e di importo, la rata diminuirà in ragione di una durata del contratto more prolonged.
The payment of the installment is an important event in the pattern of relationships between bank and borrower. Delays in meeting deadlines may apply additional charges (interest) and, in severe cases, termination of contracts by the bank, accompanied by a request for immediate repayment of outstanding principal. The reimbursement amount paid
develops in time according to a plan, called amortization, which specifies in detail the amounts paid and deadlines to be met in the payment of installments throughout the duration of the contract.
The most common type of depreciation is that the French, where the rate, while remaining Still, expect a downward component to the interests and increasing the capital as we approach the end of the loan. This means that at the beginning of the installment consists largely of interest, which can have significant weight in the case of long-term loan. In the latter case, the principal outstanding is divided by a greater number of repayment.
There are alternative forms of depreciation, which increase the flexibility of the product compared to the choices of the borrower. For the increasing rate plans (which increase over time), were added to those free reimbursement (payments are made up of interest and principal will be repaid in amounts not at certain predetermined intervals) and, finally, those with variable duration (the rate remains constant but the duration of the plan may be reduced or lengthened depending on the development of variable rate). If
expected increases in income in the future, increasing the installment plan can be an opportunity. If you prefer a variable rate but want to maintain a fixed tranche, the amortization term variable is an alternative to be examined. The schedule of repayments
also affects the ability of the borrower to repay the capital in advance, in whole or in part. The use of this option reduces the cost of the loan in its interest component. The real benefits however depend on the choice of depreciation and when you intend to use that option.
With the recent legislation (Decree "Bersani" No 7 / 2007, converted into Law No. 40/2007), the prepayment was made easier by the elimination for the future of the penalties applied by the banks, for loans entered into prior to entry into force of the Decree (February 2, 2007), is provided for the reduction of those already established.
The mortgage is a form of guarantee that relates to real estate, as the dwelling house. Up the mortgage, which requires the intervention of a notary, gives the bank the right to act on the property pledged in case of non-repayment by the borrower. The mortgage does not affect the enjoyment of the goods by those who have purchased through the loan, but it represents a constraint in case you decide later to sell it.
interests are not the only item of cost which the applicant must meet for the loan. The banks are used to apply additional costs in an amount may also be significant. The costs most often relate to the investigation of the matter expertise on the property that is acquired, the collection rate of the individual as well as premiums for compulsory insurance to cover damages on the property arising from the occurrence of disasters (eg fire).
All these costs affect the overall cost of financing, the question not to be overlooked especially when choosing between different products offered. To ensure that comparative information is, banks must disclose a summary indicator that expresses the overall burden of the loan, the synthetic indicator of Cost (ISC), similar to APR for loans provided in the form of consumer credit. The measurement of ISC - precisely because it also incorporates other charges - is usually higher than the interest rate.
In case of purchase of the house, planning costs must also take into account those relating to the notary, taxes and, possibly, the commissions payable to the agency.
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