In practical terms, taking over the loan is done by buying the property in question. The original owner can sell the apartment bought in Birmingham with a mortgage loan, and the new owner will take over the loan payment. However, in this case, the new owner must meet the eligibility criteria set by the bank. Taking over the mortgage loan is based on an alienation agreement provided by the original owner and co-owner. It should be noted that the new owner can opt for another bank to continue paying the loan.
Why Do People Need a Mortgage Advisor in Birmingham?
mathew-white 08/09/2023Finance
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