CH Passo a Passo

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LOAN DECISION

After analysing the proposal, NOVO BANCO will send you a letter to let you know its decision.
If the decision is a refusal, the procedure is closed.

USE OF THE LOAN

After the signing of the deed, in case of purchase, your account is credited with the mortgage sum.

 

If you have asked for a deposit, your account will concurrently be debited for the amortized repayment of the deposit.

 

In the case of a loan for construction, the capital sum is made available for use as and when the Works progress, and after inspection by NOVO BANCO. During this period of partial use of the loan, you only pay the interest payments related to the tranches made available. The maximum period for completion of the construction and for the partial use of the loan is 24 months, after which the amortized repayment of the loan begins.

 

If the loan includes financing for the purchase of the land, your account will be credited with the loan amount.

LOAN FOR WORKS

The availability of the capital sum is also made in instalments, in line with inspections made by NOVO BANCO. The maximum period for completion of the work is 18 months, after which the amortized repayment of the loan begins.

PROVISIONAL REGISTRATION
(Preparation for the completion deed or a particular document)

To secure the property, you will need to make a provisional purchase and mortgage registration.

 

NOVO BANCO offer you all the necessary support, by furnishing everything needed to prepare for the registration of the property.

MORTGAGE DEED

After realising the provisional registration, this is placed with NOVO BANCO for completion to take place.

 

All the relevant parties in the process are brought together by the bank to give their agreement. The date for the completion deed is communicated to the buyers, the sellers, the bank and the guarantors, if they exist. The completion deed is then finalised for the purchase value, this can take place at any solicitor's office.

COMPLETION REGISTRATION
(conversion of the provisional registration)

After completion, it is NOVO BANCO who will contact the Land Registry service to implement the final registration. Find out the responsibilities that a Home Loan involves at the Bank, Insurance and State level.