For loans first time home belonging to the rules set by the European Code customers can request a prospectus ESIS, according to the Law on banks’ transparency.

The Prospectus ESIS consists of 15 items:

• Name of the bank which pays the mortgage.
• Description of the loan: product name, type of collateral required, repayment, ceiling of eligibility, if any, third-party guarantor.
• Annual rate: size and type of rate for adjustable-rate mortgages: Seasonal variation in the rate for mixed-rate mortgages: length of time during which the rate remains fixed.
• Total annual effective rate (APR).
• Amount of funding requested and currency.
• Duration of the contract.
• Number and frequency of payments: the number of depreciation rate, number of installments for interest only, frequency of payments: monthly, half yearly, yearly, etc.
• Loans with repayment installments: it is indicated the amount of the installment calculated according to the rate steady.
• Loan with repayment of principal in a single solution: the bank will indicate in the statement: amount of each periodic payment of interest, amount of each periodic payment for the insurance policy, the principal amount payable by the customer is not covered under the policy, requirement or not the customer to accept the policy proposal.
• List of associated costs once.
• Recurrent costs: not included in the calculation of the installment, such as insurance on the loan.
• Lapse: it is indicated in the prospectus under what conditions it is possible for the early repayment and possible criminal proceedings against the borrower, expressed in percentage on the Group’s capital repaid.
• Complaints office of the bank: references to which the customer can turn to with complaints.
• Amortization: supplied attached identifying each installment, the share capital and share interests.
• Obligations to the borrower: it is indicated if the customer is required or not home at the bank on your bank account and, if an employee, your salary.

The specimen of the self-certification necessary to facilitate those who have entered into a loan at a variable rate by 31 October 2008, for the payment of installments to be paid in 2009 (for the installments already paid to date, interest will break no accredited retrospectively) and site of Abi, (www.abi.it, in the section Know the Banks, Sub-banks and customers, subject Mortgages).

The draft declaration drawn up by the Abbot, after the information relating to the registrant and the mortgage contains a self-declaration as to the existence of all the conditions so .2 covered by the Act provided for in Article 185 of Decree November 29, 2008 converted into Law 28 January2009 n.2.

Conditions:

• that the mortgage rate is not fixed “(in this specific case that may be just a mortgage that premade the choice between fixed and variable rate of depreciation in progress, provided that the installments are calculated using variable rate)
• it has been agreed or extensive (even if the consequence of splitting of the original mortgage) by October 31, 2008
• it was linked to the purchase, renovation, construction of a main
• not in the categories of housing land as property “luxury” (A1, A8 and A9)

Even today, there is a deadline by which this certification must be performed.

For his house often, even after there has been equipped with an antitheft system, you’re never quite sure. Can be used then, the subscription of an insurance policy for the home, which can be of three types:

1. Policy to integer value: it covers an amount that corresponds to the real value and total assets in the house. This typology therefore expected that at the inception of the contract is made an estimate of the assets in your home. But we must be careful, because if you suffer a theft of a value exceeding the insured value will be paid an indemnity calculated according to the proportional rule. Compensation will therefore be reduced in proportion to the ratio of the value that was insured and the actual value at the time of the robbery.
2. Policy to first relative risk takes into account both the insured value, which appears to be the maximum compensation that can be obtained from insurance, both the value of insured property (insurance value). In this case the goods are insured at greater risk of theft. But if at the time of the theft, we find that the insurance value exceeds the value indicated in the policy is applied to the proportional rule.
3. First loss insurance policy: the most widespread and usually more convenient because it does not take into account the total value of goods in your home. In this case, the insurer agrees to pay damages to the insured value if necessary, even if it is lower than the total value of insured property. Not apply then, the proportional rule.

Tags : Insurance