In general, the mortgage lending system looks like. Banks lend to individuals mortgages, rights which are mainly certified mortgages. Make sure mortgage means that the transaction with the credit agreement and the mortgage agreement is made even mortgage. Why and why you can read here.
And in order to have money for the next issue, banks often accumulate credits on its balance sheet and then the gross (pool) sell them to investors. Banks appear "free" money they can to lend again. But now is not about that.
Sale of mortgage
It should be understood that the bank can sell the mortgage to any person. Sale of mortgage can not be prohibited, any such record on the mortgage - is negligible. Sale of mortgage recording accompanied her with a mark on the new owner. In fact, all. Sale of mortgage and credit accomplished. The new owner of the mortgage may register their rights and can not register. Oddly enough, but this is also his right. It is legitimate on the basis of a mortgage made to mark the transfer of rights.
However, on the sale of non-credit mortgage company, you have to give its consent. But it is, as a rule, explicitly fixed in advance or in your application for credit, or, most likely, in the loan agreement.
Sell your mortgage can be an unlimited number of times, sometimes sold back to your own primary creditor, ie one who gave you the loan. This often happens when you are in the first year there are some problems, including defaults
Selling mortgage involves the transfer of personal data and obligated persons, ie those who signed the mortgage, without their consent. But the new lender is legally obliged to ensure the confidentiality regime.
And how do these persons are obliged to recognize that there was a sale of the mortgage?
Quite simply, after the sale of your primary mortgage lender is obliged to inform you about the transfer took place. Notify is not on the phone, sms-Coy, not by e-mail, and written under your signature. If you have any doubt on receipt of such a letter, you can call your primary lender and clarify whether this is so.
It happens that the new owner of the mortgage is in one place, for example, in Moscow, and it has no offices in other regions, and your apartment, which is pledged for the loan in Vladivostok. Of course, the new owner, and you yourself, remote communication is inconvenient. And then the new owner appoints a local agent for support, what will notify you in writing. Always writing. As a rule, in the same letter, you are notified of new details for payment.
New details for payment
By the way, new details, probably the only disadvantage of the sale of your mortgage.
Worry about, because none of the conditions of previously concluded contracts and the mortgage can not be changed unilaterally, without your consent. But you will need to pay for other details.
What does it mean?
Theoretically, you can make money in the same place forever. You're sure to come in your bank account filled up with this account on a specific date to debit to repay the loan. In order to write off the money, you are likely to initially leave the bank standing order for withdrawal. Now you need to change this order, specifying a new recipient, and new details. And the pay can, as always, coming into my bank. Only money is now your bank will not afford to leave, and on the list you specify details. If the sale of the mortgage has happened a few times, you will probably need to change each time this request for withdrawal of money.
What is the disadvantage here?
If your payment previously remained in the bank, but now he will have to "walk" to get to the new owner of the mortgage. After the expense of the latter certainly open another bank. Those. if before writing off money from your checking account and credited to the credit account held at the same time, but now it will take some time. In some cases, the write-off of money from one bank to credit them to the loan account at another bank can take several days. And it can lead you to the so-called technical arrears and penalties. To avoid this, top up your account in your "old" bank in advance and standing order for withdrawal does not specify the deadline for payment, and for a couple of days earlier.
whether the new costs arise?
May occur. And that's why. Before you pay your creditor in one bank, and he with the money you have to repay the loan did not take. Now held for sale and the mortgage you have to pay to a third party, the new owner of the mortgage. Account with him, as we have said, generally can be in another bank. To your bank, where you are served, there is a new work to transfer your money. In most cases, this is a paid transaction. The commission amount is set by the bank, who on your behalf transfers the money. And you have a new task - to select the operator (bank), which is the most cheaply will forward your money to the new creditor.