That mortgages between people are a possibility when it comes to getting money is something that should no longer surprise anyone.
Basically because there are many finance companies and companies that offer this type of mortgages, in most cases private equity mortgages .
The question that many people ask us is why these mortgages are in demand among the Spanish population.
There is no single answer to this question but in fact there are many different ones.
Mortgages between people Why ask for one of these credits?
There are plenty of reasons being something that at MaoriArt we have dealt with on other occasions.
One of the most important in my opinion is the one that has to do with the possibility of being able to get complicated loans .
Through one of these mortgages, clients can obtain financing in circumstances that are not possible through other entities.
The example that is often used to demonstrate this is when the person asking for the money is in a delinquency record and needs money.
If you go to the bank or to some other similar financial institution (consumer finance companies for example), it is most likely that you will find that you cannot access the money.
On the contrary, it is in the private finance companies which offer these mortgages among people who will be able to solve their financial problem.
Anyway, this is something that often leads to confusion.
That through these companies you can get loans with Credit Checker does not mean that all your credits are suitable for this.
What we are talking about here is signing mortgages with which either the clients provide real estate guarantees or they will not be able to finance anything.
People often read that a finance company offers a type of credit and without even reading the financing conditions they interpret things as they want.
And something we can tell you is that the signing of difficult loans is almost always done through the provision of guarantees.
Characteristics of mortgage loans between people
As the creditor is a person or company and not a bank, the cost that we will see in these mortgages will be higher.
It does not matter in which company you carry out the processing, if it is a mortgage between people what you process, its cost will be higher than that of the banks.
Another thing you have to know is that the terms in these credits are not the same as those of the banks.
The finance companies in fact in the signing of these loans usually put terms much lower than those seen in the banks.
Many limit the 5 years to make the return, being only a good idea for small and medium amounts, never large.
There are some that allow you to put a longer term, although it is not usual, (with us if you can get mortgages with more than 5 years term)
Advantages in private mortgages
The main advantage in addition to the fact that they can be processed in difficult situations is the speed offered.
It is in fact one of the reasons why many people prefer to process these mortgages over bank ones.
To finish, at MaoriArt we want to point out that we also process mortgages between people throughout the United States in case you are interested in it.