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Home  >   FAQs  >   For People Considering a Mortgage
For People Considering a Mortgage

If you are considering a mortgage, undoubtedly you have some questions.  Many of the most common questions are answered below.  If you are still not sure of the basics of mortgage financing, you may also wish to consult the general FAQ.

  • What happens if the client fails to pay the mortgage installments?
  • What information should be included in the income statement?
  • What is the body that receives and reviews mortgage complaints?
  • What is the function of the mortgage broker? How can we identify mortgage brokers?
  • What is the importance of insurance policies?
  • What is the tripartite contract?
  • What are the benefits of taking out a mortgage to finance my home purchase?
  • Who is eligible for mortgage financing?
  • How long does it take to approve a mortgage?
  • What are the steps for purchasing a property under the mortgage financing system?
  • What is the duration of the mortgage?
  • How big a loan can I have?
  • Can I get a mortgage to cover the entire cost of the property?
  • What is the current yield rate for mortgage finance?
  • Can the financier assist me in selecting a property?
  • What type of mortgage is held on the property?
  • Does the financier have the right to make maintenance calls?
  • How can I obtain the real estate transactions certificate?
  • How can you benefit from the mortgage financing Guarantee and Subsidy Fund (GSF)?
  • How does the purchaser calculate the lending cost?
  • Is it obligatory to register property after obtaining finance?
  • Is it possible for pensioners to get mortgages?
  • Is it possible that the contract is in the name of both spouses even if one only is obliged to make the payments?
  • Is it possible that the purchaser writes checks in case he is unable to provide all income evidences?
  • Is it possible to add a parent's or spouse's income if the applicant does not have a job?
  • Where do I go to make my property installments?
  • Is it possible to dispose of the mortgaged property during the mortgage lifetime?
  • Is it possible to fulfill installments in a single payment?
  • Is it possible to present other income evidence?
  • Is it possible to purchase from the spouse or sister/brother?
  • Shall insurance be paid on one installment or during the mortgage term?
  • Should dealing with the financier take place directly or through mortgage brokers?
  • Should the client conclude a power of attorney to the financier prior to signing the unit contract?
  • Should the selected property be registered?
  • What are the required documents to get financing?
  • What does foreclosure mean?
  • Who is an appraiser?



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