Early repayment of the loan and insurance

Posted: August 18th, 2013 | Author: | Money

The mortgage market is a lot of procedures especially when representatives of the bank will want us to sell additional products tempting us with promotions or simply the convenience and time savings. That is, inter alia, the compulsory insurance of a house or apartment. The purchase of such a policy outside the bank will cost us some time and paperwork, and the bank is well aware of the fact that most of us simply will not want it.

Images_of_Money / photo on flickr

Images_of_Money / photo on flickr

Therefore take up the proposals cross-selling mortgages and insurance. And although you can discuss the viability of such a solution, it does not change the fact that a lot of people decide on this option.

An interesting problem related to early repayment of the loan is an insurance paid for a long time in advance. Indeed, although if you pay off the debt before the date of this portion of the costs will be returned to us, the insurance doubts arise.

There is, however, nothing to worry about, because the amount is not lost. You just have to apply for it, because it will not be returned to us from a vending machine. Procedures are little different from each other in each bank and the details you need to ask your advisor, but generally everything is limited to the submission of relevant instruction in writing.

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