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Mortgage agreement, as a rule, is a fairly long period, from 10 to 15 years is considered the optimal norm. But, over the years, becoming more of unforeseen events that lead to the damage or destruction of the collateral. Here and there the idea of ??insurance: only the company - the insurer will be able to protect the property interests of the borrower in case of his death, or damage to property, and to provide a refund to the bank. The purpose of insurance - to reduce credit risk, its redistribution.

Insurance companies in our country, who are working in the mortgage insurance partner banks offer special programs in the form of complex mortgage insurance, the borrower, and mortgaged their property. These programs are more effective tool to reduce the credit risk.

That include complex software?

1. Property insurance. This insurance covers the risks of the bank, which are associated with damage or loss of the mortgaged property.

2. Personal insurance. This insurance covers the risks of the bank that are associated with life, health and disability of the borrower.

3. Title insurance. This insurance can cover the risk of loss of the borrower, interest in real property, that is, risk insurance (Ergo Hestia Olsztyn Witosa) for the right to property of the client of the bank, may be the same or otherwise impaired or challenged by third parties. Title insurance is the insurance of legal purity of the complete documentation, which confirms the ownership of the apartment. This insurance allows buyers or borrowers property, rely on the compensation paid in case of termination of the credit agreement by the court or of the contract of sale of an apartment. In other words, insurance against events that have occurred in the past and in the future, the effects of which may be affected.

The first will be to insure the risk of termination of the subsequent (and final) real estate transaction. The reasons could be anything, mostly errors that allowed the privatization of apartments, its sale or exchange. Under the contract of title insurance policyholder is the borrower and the beneficiary - the lender - a bank, that is, all insurance costs the borrower must exercise his own expense. Contract with an insurance company, also signed the borrower, but the insurance, if an insured event occurs, will be paid to the creditor - the bank.