The binding mortgage loan offer is nothing more than a simple document in which the clauses on which the mortgage loan we have applied for is based. This document may be requested free of charge to the Financial Entity with which we contract the binding mortgage loan offer .
On July 29, 2012, the resolution was issued regarding the compulsory nature of the mortgage loan offer, in which the delivery of this was no longer essential, which does not imply that today customers can request it.
This document is regulated in Order EHA / 2899/2011 , which shows the mandatory delivery of the binding offer for all mortgage loan payments, including those below 150,253, 03 euros. The binding mortgage loan regulation can be found in detail in the Official State Gazette (BOE).
WHAT DO WE NEED TO REQUEST THE BINDING BID?
- First of all, we should know the connection that exists between the value of the home and the amount of the loan.
- Secondly, it is necessary to know the number of fixed installments in which we can return the loan and what the amount will be.
- Third, how much money can the entity grant us?
- How much is our property worth?
- Decide if the interest rate will be fixed or variable.
- Another factor to take into account when requesting a binding offer will be the opening, amortization, cancellation, etc. commissions.
- Finally, it is worth mentioning other types of expenses such as taxes, taxes, etc.
IS THE BINDING OFFER THE bank?
Well the answer is yes. Since the bank, the Personal Information Card, is the one in which the client can obtain all the data of his mortgage loan loan, as well as the binding offer , as we have explained previously.
To get the binding offer or bank, you have to follow a series of steps:
1.- We must request an informative document about our mortgage loan, also called FIPRE . This term should not be confused with the aforementioned bank, since it is the step prior to obtaining the binding offer .
2.- In the second place, the bank mortgage loan or binding offer is delivered, which is the document that contains the clauses of the mortgage loan.
3.- Finally, and not least, the contract and mortgage loan clauses will be delivered. At this time, once signed by the bank and the client, the binding offer has no value.
As indicated by the Bank of Spain on its website, the difference between bank and FRIPER is:
"When we request information about a product in an entity, it will give us the Pre-contractual Information Card or FIPRE:
- With clear and sufficient information of the product that offers.
- Of an orientative nature.
- Available in all marketing channels of the entity.
If we are interested in your offer, and once we have informed you of our needs, preferences and financial situation, you will give us the Personal Information Card or bank
- With personalized information to our demand
- So that it can be used to compare
- Before we have linked through any contract or offer "
On the other hand, we want to stress the importance of the binding offer mortgage loan floor clause . The binding offer must be delivered 10 days before the signing of the mortgage loan contract, otherwise the land clause would not be effective and the client would not know of its existence.
HOW DO WE LINK BINDING OFFER WITH mortgage loan SUBROGATION?
The binding mortgage loan subrogation offer can be attached, since the bank has 15 calendar days before formalizing the subrogation of the mortgage loan with the client, so that the binding offer can be improved or maintained under the same conditions.
WHY IS THE BINDING BID SO IMPORTANT?
Currently, the binding offer plays a prominent role in the payment of mortgage loan transactions between banks and customers. This role is due to the fact that, if the clients did not have binding offers , they could not have knowledge of the conditions signed and agreed upon in said mortgage loan. In an article published by El Economista , this importance is reflected with the following quote:
"During these days of uncertainty, pending what the Supreme decides next November 5, Bankinter has not observed changes in the demand for mortgage loans. Until the situation is clarified, the bank is assuming the payment of the tax, although it is negotiating terms with customers who still did not have binding offers. "
We conclude by saying that in the world of mortgage loans ... "everything that glitters is not gold", and in this article we have discovered the importance of the binding offer in our mortgage loans. Thanks to them you can know all the clauses offered by the bank to apply for your mortgage loan loan .