Consolidation of mortgage loans – Disadvantages and advantages

Merabank, as – Consolidation of mortgage loans

Merabank, as - Consolidation of mortgage loans

Merabank, as offers, in addition to classic consolidations, also those associated with mortgage loans. Yes, as you can guess, these products are linked to far higher sums of money, with which you can comfortably pay any old debts and disadvantageous liabilities.

Consolidation of mortgage loans from Merabank, as is associated with a number of benefits that will release you, for example, from entry fees and thanks to the variant of the guarantee of real estate presents much wider options. All this is connected with a very individual approach to the customer.

This professional banking product covers a variety of types of loans, including overdrafts, classic loans and credit cards.

Advantages of loan consolidation:

Advantages of loan consolidation:

  1. You can use pleasant extraordinary installments, with which you pay up to 25% of the loan principal each year.
  2. You do not pay any fees for processing the application and subsequently maintaining the account. There are also no payments for estimating the property.
  3. Everything is approved in a short time – usually within five working days.
  4. Consolidation of mortgage loans is also applicable to the spouse’s obligations.
  5. If you are interested, you can use the insurance of the ability to pay.
  6. All clients of Merabank, as are provided with a very individual service.

Disadvantages of loan consolidation:

Disadvantages of loan consolidation:

  1. You must be aware that you are responsible for the proper repayment of your obligations by your own property.
  2. To get a better interest rate of 4.99% you need a minimum income of 15,000 CZK. At the same time, the share of external liabilities must be at least 50%.

Loan consolidation conditions:

Loan consolidation conditions:

  1. Natural person with permanent residence in the Czech Republic
  2. Foreigners must have a residence permit in the Czech Republic
  3. Minimum age 18
  4. Provided only for mortgage from Merabank, as
  5. Property to be guaranteed

Representative example:

Loan amount CZK 300,000, loan maturity of 10 years (120 installments), monthly installment of CZK 4,030, interest rate 10.39% per annum at fixation of 5 years. Loan-related fees: loan processing CZK 0, loan account maintenance CZK 0 / month, Genius Basic current account maintenance CZK 0 / month, loan drawdown fee CZK 0. APR 10,90%, total amount payable by the consumer CZK 483,600. There is no legal entitlement to arrange the loan. This offer is not binding. The collateral must not be totally disproportionate to the value of the secured receivable. It is the duty of the borrower to arrange and maintain the property insurance (reinsurance) for the entire duration of the contractual relationship. If the monthly credit income of CZK 15,000 is maintained in a Merabank mortgage repayment account, and if the share of consolidated liabilities from Merabank does not exceed 50% of all consolidated liabilities under one secured real estate loan, an interest rate of 4.99% can be obtained per year.

Method of repayment:

Consolidation of mortgage loans from Merabank, as is payable from the current account of this banking institution. You will make a regular monthly payment by cashless.

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