While making a agreement of borrowing a loan from
bank it should be seen that every element of the agreement is described in a
prescribed way so that the buyer – YOU are not been cheated. Hence for this
reason it is essential that the buyer or the borrower is known to the factors
,disturbing and making the internal changes in the Loan agreement. For this
purpose ,The Buyer should act smart enough so is benefited in the process or is
not cheated or thug by anyone in the market. This can be done with the help of
understanding the following concepts .
1
What is that ‘extra’ fees?
One of the additional costs one would incur while
opting for a housing loan taken would be the processing fee that needs to be
paid while taking the loan. This fee is collected by the bank for the multitude
of expenses that the bank incurs and the fee is collected at the beginning of
the loan tenure itself.
2
Processing fee cuts:
Banks attract customers by reducing the processing
fees. There are two ways in which this can be tackled. One is by abolishing the
processing charges and the other way is to reduce the processing fee, thus
benefiting the borrower. Both of them benefit the borrower, thus the banks have
to be extra cautious before they come to a decision.
3
Bigger Benefits:
Bigger Benefits are most considered by the large
borrowers who borrow large amounts of the loan and accepting the lesser
processing fees which allow them to make equal profits in the relative
investments . Hence to a relative small amount the processing fees is considered
to not be that lesser as compared to large borrowing. Hence small buyers are
advised to take a close look at the fluctuating market demands and factors to
Borrow Smartly.
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