Private capital mortgages
Although most people associate mortgages with those offered by banks , private capital mortgages also exist.
In Creditosrapidoseuros we are going to show you how these private mortgages work, also making known their different uses in the market.
Because mortgages of private capital although they are also mortgage loans have little to do with those signed by the bank.
The particular mortgages being also called that way are used more for other types of situations.
Private equity mortgages What are they?
It is a type of loan between people where the person lending the money is not a financial institution as such, but rather a company or individual.
Of all the private equity loans that exist in Spain, this type of mortgage loans is the best known.
For that reason, when people hear about these private loans, people assume that they only sign mortgages.
It is because almost all the private financiers that offer these loans only do so through the mortgage company.
When signing through a mortgage this means that the client has had to provide some kind of guarantee to the operation.
And for guarantee here what we are talking about is real estate such as houses, commercial premises, land ….
In the private equity mortgage firm the clients what they provide as collateral is real estate.
It is impossible to sign a mortgage being this a personal loan or even on another different guarantee since then we would not talk about mortgages.
What is similar to the signature of bank mortgages is the procedure that is carried out.
In the same way that it happens in the mortgages by bank these mortgage loans will also be signed in notary being necessary s the same steps.
It will be necessary to assess the property in question, once signed in notary you will have to keep the property registry …
Differences between private and bank mortgages
The main difference can be seen above all in the characteristics of each of these quick credits .
Since these mortgages are private loans signed between people, their cost will be higher when seen in other financial institutions.
Private loans are always going to be more expensive in all respects compared to those we see by bank.
It is something that we have to assume in signing private loans, we can get financing even in difficult situations but in exchange for a higher cost.
The advantage of these private capital mortgages is what it is, on the one hand we can get money in circumstances that we could not.
For example, for situations such as leaving the bank or carrying out a group of loans, it is usual to recommend.
If we talk about medium and large amounts at least since for very small amounts of money financial companies do not usually sign these credits.
Nor can we forget the speed with which they are signed.
It is through these mortgages among people that people can get to sign mortgage loans in less than a week.
Something that on the contrary is not possible in the signing of the loans that we see in a bank.
This is what we can say about private equity mortgages.