- Uncategorized

House Purchase Loan: review and opinions

 

 

Bankate House Purchase Loan

The Bankate Purchase Home loan is the product designed for all owners of a registered savings account or a Bankate account who want to buy a property or its appurtenances.

The general characteristics of the loan include:

  • Amounts payable: from 10 thousand up to 60,000 USD
  • Loan duration: up to 120 months
  • Refund method: monthly installments
  • Insurance: optional

Description

 

The Bankate Casa Purchase loan is dedicated to all those who want to buy a house or an appurtenance, such as garages or cellars.

This product can only be requested at post offices throughout Italy. However, it is not possible to proceed with the online application. Through the Poste Italiane portal it is only possible to book the date and time of the appointment, to avoid queuing up when going to the office to forward the request.

Now let’s see what are the in-depth features of this form of financing.

Who can apply for the Bankate Home Purchase Loan

Who can apply for the Bankate Home Purchase Loan

As we have mentioned, this funding can only be applied for at post offices. But who can apply for it? They can proceed to the question:

  • Public and private employees with fixed-term contracts
  • Pensioners
  • Freelancers and self-employed workers who have produced at least one tax return
  • Residents of Italy

The product is not available for:

  • Those who are reported to the CRIF, I have turned out to be protested
  • Who does not have a demonstrable income from work or retirement
  • Who already has other ongoing loans that exceed 40% of the salary value

How to take out the Bankate Casa loan

How to take out the Bankate Casa loan

In this respect Bankate is lacking, unfortunately its website is not adequately structured to offer detailed information nor much less to request the loan online, probably because they are strong due to the large presence in the area, they focus more on the old sales method.

To get the details on the loan or to submit a loan request, it is necessary to call 800.00.33.22 and ask to make an appointment with the manager of the office in charge.

Requested documents

Requested documents

The documents required to submit the application are:

  • Valid identity document
  • Last 2 paychecks for civil and private employees
  • Single certification for self-employed and freelancers
  • The registered purchase compromise

Amount to be requested

The amount that can be requested for holders of a Bankate account ranges from $ 10 thousand to $ 60 thousand. For holders of an Ordinary Nominative Postal Savings Book it allows you to request from 10 thousand USD up to a maximum of 30 thousand.

Calculation of the installment of the Bankate Home Purchase Loan

Calculation of the installment of the Bankate Home Purchase Loan

Poste Italiane for this product does not present complete information on its website and the interest rates are calculated on the basis of the sum requested and the duration. Furthermore, there is not even a dedicated online simulator. So the only way to get a quote and simulate the installment is to go directly to one of the offices throughout Italy.

Duration of funding

The Bankate Home Purchase Loan for Bankate Account holders and registered Postal Booklets ranges from a minimum of 36 months up to a maximum of 120 months.

Insurance

Insurance

In this case, insurance is not mandatory. However, Poste Italiane gives the possibility to subscribe to the PosteProtezione product which allows to protect the financing with a dedicated policy.

Delivery times and methods

Delivery times and methods

Once approved the funding practice, the money is credited within 24/72 hours. The disbursement takes place with direct credit to the Bankate account. For the holders of the Registered Postal Book, the loan is disbursed by a non-transferable cashier’s check.

Refund procedure

The loan is repaid in monthly installments. For Bankate customers, these are debited directly from the current account. The holders of the registered postal passbook instead have to repay the financing with the bulletins.

Review and opinions

The Bankate Casa loan was positively assessed by those who requested it. One of the main advantages encountered by its underwriters is the simplicity of the preliminary investigation and the possibility of accessing the loan also to freelancers and self-employed workers.

However, this loan also has some small flaws, the first being given by the fact that a maximum amount of 60 thousand USD can be requested. Considering, however, that this is not a mortgage, the proposed amount is ideal for those who need a modest sum for the purchase of the property, and do not want to follow the process of preliminary investigation which instead requires the signing of a mortgage.

In addition, financing is also recommended for those who want to buy only a relevance such as a garage, a garage, etc… In fact, the minimum required is 10 thousand USD, this figure was highly appreciated by customers who had this need.

The loan is dedicated only to those who have a Registered Postal Book or a Bankate account, so if you do not have one, you need to open an account before making the request. Precisely because the product is reserved only for Poste Italiane customers, the interest rates are on average competitive and have been appreciated by the underwriters of the loan.

In conclusion, the product is evaluated positively because it provides fast request times and good interest rates.

Leave a Reply

Your email address will not be published. Required fields are marked *