Mortgage Loan

First mortgage

There are many types of property mortgage loans, which can be divided into First mortgage, Second mortgage (Further charge), and Remortgage. First Mortgage refers to a primary lien on a property, or remortgage a full payment property. The lender expects the mortgage loan to be repaid in monthly installments, which include a portion of the principal and interest payments, and the deed of the property will be kept by the lender since the mortgage loan is secured by the home.

Remortgage is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security. By undergoing remortgage, property owners can acquire extra money for their personal use. To apply this, property owners need to provide personal information, as well as income proof to the lender for checking. Hence, the checking time would be longer.

Global International Credit Limited offers property mortgage loans, as well as remortgage service to our clients. Unlike other companies, we do not have any requirements in terms of the age of the property owners and the age of the buildings. Apart from that, we also do not require property owners to provide income proof.  Our mortgage products offer flexible repayment tenors from 1 month up to 240 months, and the maximum loan amount can reach 80 percent of the property market value with 8 percent annual interest rate. Our company will also help clients to pay the attorney’s fee and valuation fee due to the application for the mortgage loan.

Second mortgage (Further Charge)

Second mortgage (Further Charge) is a subsequent mortgage to a mortgagee of a property that is already subject to a prior mortgage in favour of the same mortgagee. It can be adopted, if property owners want to acquire extra money for business use or personal use. Property owners are required to provide personal information, as well as income proof to the lender for checking. Therefore, getting the approval of a Second mortgage (Further Charge) is not an easy task.

Global International Credit Limited offers Second mortgage (Further Charge) service to our clients. Unlike other companies, we do not have any requirement in terms of the age of the property owners and the age of the buildings. Apart from that, we also do not require property owners to provide income proof.  Our mortgage products offer flexible repayment tenors from 1 month up to 180 months. Since the second mortgage (Further Charge) lender is not the first lien on a property, the interest rate of the second mortgage loan would be higher than the counterpart of the first mortgage loan.