Guide To Wollongong Accommodation Deals

Sometimes it can happen that you have to change homes. Maybe buying a new one and that, to do so, it is necessary to sell the old one without knowing where to go during the transition period. A big problem, you’ll think. Wouldn’t it be much better to buy a home even before selling the old one and have plenty of time to get organized, without worrying about liquidity?

With Wollongong Accommodation Deals, it is possible. It may happen that you want to change house but that you still haven’t sold the current one, our property. In this case a practical solution can be to opt for Accommodation Deals, with a minimum rate limit, which will allow you to cope with the new purchase even before you have sold your current home.

This can happen for example when the home owner is in a hurry to sell, and you want to stop the house because it is the one of your dreams. During this period you will only pay the portion of amortization interest, which will begin at the end of the eighteenth month or earlier, if you manage to partially extinguish it in advance.

Then, for the sale of the property you can assign the mandate to a real estate agency or to a third party, as you prefer. During the pre-amortization period, in a nutshell, you will only have to pay the interest to the bank. It is therefore a period in which you will be able to sell your home in peace.

Then, once the house is sold, the bank will reformulate the time needed to pay off the debt and the amount of the loan installment which, at this point, will be composed of interest and principal. This mortgage, like the purchase of a first home, is also a mortgage loan. What does it mean? Which is granted by the credit institution against the stipulation of a mortgage on the Wollongong Accommodation Deals.

This allows you to immediately find a solution and get the liquidity needed to buy a new home, even if you haven’t sold the one you live in yet. The duration of this loan is from 5 to 30 years, for those who want to buy the first and second home, with 18 months of amortization. The variable rate is calculated with a 3-month Euribor 365 parameter, increased by the commercial spread, based on the credit characteristics of the customer.

If at the time of periodic recognition the quotation of the reference parameter, or the Fixed Rate, or indexing, the Variable Rate, are equal to zero or negative, for the corresponding period of application the rate will be equal to the spread set by your contract of mutual.

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