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Mortgage loan and credit

Updated on March 14, 2016

Bank loan and credit without collateral to be officially recognized in the legal system would be an opening for your personal life, your family, the right to consider and decide on the basis of loans secured or not secured by pledged assets, mortgage loan customers, third-party guarantors and responsible for their decisions. Accordingly, the services for the mortgage loan and credit in the credit institution has been formalized in the legal system of the State and so far many banks have conducted this service deployment.

Bank counselor will help customers calculate carefully on the loan, pay a reasonable time limit as this helps avoid the risk reduction for both parties. Mortgage loan is a loan from a bank or other credit institutions that customers do not need collateral, just make sure with trust by strict contracts between banks and customers. If we look back, it seems that the State credit institutions is not yet very strongly while the commercial banks, joint venture banks, foreign and financial leasing companies have stepped up lending service join. For example, Bank of Industry and Trade, Military Bank, only for the mortgage loan when the borrower agencies paid through the banking system or the new partner for the staff of the agency mortgage loan, banks Vietnam Prosperity goods only loans to officials, employees working in the field of insurance, finance and banking. Meanwhile, Prudential Finance is extended to borrowers all household customers or KT3 in HCM City, the monthly income of 4 million or more (individual customers are employees of the company top, only monthly income is 3 million) and have 1 year work experience in all companies in all industry sectors.

It was explained that, although all lending decisions are dependent on the banks, but when operating under contract repayment happen, the bank risks falling into the passive, by intangible collateral, can not be brought to auction in order to recover the lent capital. Bank loan and credit without collateral to be officially recognized in the legal system would be an opening for your personal life, your family, the right to consider and decide on the basis of loans secured or not secured by pledged assets, mortgage loan customers, third-party guarantors and responsible for their decisions. Accordingly, the services for the mortgage loan and credit in the credit institution has been formalized in the legal system of the State and so far many banks have conducted this service deployment.

The cautious in lending activity is also understandable, as the capital market in our country is too small in scale, competition in credit activity was not bitter. Therefore banks, credit institutions and be always tight games in which lending decisions. The way to solve the banking problem is given risk lending conditions and interest rates are stiffer, this invisible part precludes mortgage loan and credit commitment to improve the lives of customers, while banks are reducing a significant customer base. And like services for the mortgage loan and credit has not really been popularized by mutual lenders and the borrowers are not dare "dose".

Mortgage loan and credit interest rate - the core issue

Customers can refer to the calculation of interest on the declining balance method based on the interest rate on the balance of the original recipe by many banks apply: 2 * n * r / (n + 1) (where n is term of the loan, and r is the interest rate on the balance of the bank initially announced). For example, unsecured bank loans with interest rates above the initial balance of 13% / year, for a period of 12 months, the interest rate on a declining balance given will be: 2 * 12 * 13 / ( 12 + 1) = 24% / year.

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