In the end, it is this solidarity of savers that allows each saver to carry out his project on as favourable credit terms as possible. This creates some special requirements for the execution of a housing savings contract that stands out for example. B of a normal savings plan. Ten UK real estate credit companies demutualized between 1989 and 2000 and either became a bank or were taken over by a larger bank. [12] [13] Until 2008, every real estate credit union that went public in the wave of discouraged people of the 1980s and 1990s had either been sold to a conventional bank or nationalized. [13] There are different subsidies for construction savers that they can benefit from. These depend on the income of the saver and whether or not the employer participates in the savings contract for capital-capital benefits. Subsidies come from the government and can help ensure that the loan is paid out more quickly or repaid more quickly. We have summarized and explained for you the main financing options: the decision to save for a construction credit is a long-term and well thought out reflection. In addition to comparing different rates and construction savings, there are other things to consider. A savings-building contract generally covers a smaller amount and is intended only to supplement the real estate financing itself. You`ll find out everything you need to know about building savings in our great guide to building economy! The benefits of using our free legal service do not include legal fees, as your remortgage can be handled internally by our legal department. It can often be a faster process.

However, our internal legal department cannot advise or act for you. If you need legal advice on any aspect of your remortgage, we recommend you speak to your own legal representative. Freehold You own the building and the land on which it is located. See “Leasehold” for comparison. The assessment number determines when the loan can be assigned to you. This number increases as the savings phase progresses. If the valuation number exceeds the target figure set by real estate savings, the credit can be reduced. The higher the valuation number, the more money has been deposited, the lower the amount and the shorter the term of the loan. In other countries, there are non-profit organizations that look like construction companies: Junior Individual Savings Account (Junior ISA) A tax-exempt savings account for children. Often with found apartments, you own the property for the duration of the rent. The land on which the land is located is owned by the owner, who is also known as the “free owner.” When the lease receives the property, it returns to the owner`s property. Real estate that is under 80 years of age on the lease can be difficult to obtain a mortgage, and the lease can be expensive to renew at any given time.