{"id":21053,"date":"2019-03-04T16:21:28","date_gmt":"2019-03-04T15:21:28","guid":{"rendered":"https:\/\/www.fma.gv.at\/loans\/hypothekar-und-immobilienkredite\/"},"modified":"2022-03-22T14:37:49","modified_gmt":"2022-03-22T13:37:49","slug":"mortgages-and-real-estate-loans","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/loans\/mortgages-and-real-estate-loans\/","title":{"rendered":"Mortgages and Real Estate Loans"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>Regarding mortgages and real estate loans you need to consider the following items:<\/p><h2>Prior to concluding a contract<\/h2><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb80bc\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb80bc\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb80bc\">        <span>Have you received an ESIS?<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb80bc\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb80bc\">    <div class=\"card-body\"><p><\/p><p>Prior to the conclusion of the contract, the potential lender must provide you with a <strong>European Standardised Information Sheet<\/strong> (ESIS). The ESIS is an EU-standardised form that contains all the important details about the potential contract, for example:<\/p><ul>\n<li>Borrowing interest rates,<\/li>\n<li>Effective annual rate,<\/li>\n<li>The total amount to be repaid,<\/li>\n<li>The right of early repayment and<\/li>\n<li>Penalties for early repayment<\/li>\n<\/ul><p>If something changes, such as the interest rate, then every time you must be given a newly <strong>updated ESIS<\/strong>.<\/p><p>    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb80e5\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb80e5\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb80e5\">        <span>Your creditworthiness is assessed<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb80e5\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb80e5\">    <div class=\"card-body\"><p><\/p><p>The Bank is required to conduct a precise assessment of your creditworthiness and will only be allowed to grant a loan, when is seems probable that you will be able to repay the loan in full. Where a bank has doubts about your credit rating, it is not allowed to give you a loan.    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb80f9\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb80f9\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb80f9\">        <span>Take the time to think it over<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb80f9\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb80f9\">    <div class=\"card-body\"><p><\/p><p>So that you are not pressurised, the bank&rsquo;s offer must remind binding for at least seven days.    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb810c\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb810c\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb810c\">        <span>Additional business<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb810c\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb810c\">    <div class=\"card-body\"><p><\/p><p>Package deals (the tying-in of a credit agreement to the utilisation of other financial products) shall generally now only be allowed for the purpose of repayment of the loan, the upkeep of the loan or as surety.    <\/div>  <\/div><\/div><p>\n<\/p><h2> After concluding a contract<\/h2><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb811d\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb811d\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb811d\">        <span>Withdrawal from the contract<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb811d\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb811d\">    <div class=\"card-body\"><p><\/p><p>If you have submitted your <strong>contractual declaration within two days of receiving the ESIS<\/strong>, then you have a<strong>right of withdrawal for a period of two working days<\/strong>.<\/p><p>If you have not been given an <strong>ESIS<\/strong>, then the right of withdrawal shall end at latest one month after the contract being concluded.    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a31d8cfb812b\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a31d8cfb812b\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a31d8cfb812b\">        <span>Early Repayment<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a31d8cfb812b\" class=\"collapse\" aria-labelledby=\"heading-6a31d8cfb812b\">    <div class=\"card-body\"><p><\/p><p>If you have taken out a <strong>variable interest rate loan<\/strong>, you may repay it at any time at no extra cost.<\/p><p>In the case of a <strong>fixed interest rate loan<\/strong> an early repayment penalty may be demanded, if you repay more than EUR 10,000 within a twelve month period. The amount of the early repayment penalty shall be allowed to be a maximum of 1 per cent of the amount that is repaid early (or 0.5 per cent during the final year of the term). The bank must inform you about all the effects associated with early repayment.    <\/div>  <\/div><\/div><p>\n<\/p><p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regarding mortgages and real estate loans you need to consider the following items:Prior to concluding a contract After concluding a &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":20973,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"megamenu-page.php","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-21053","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgages and Real Estate Loans - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/loans\/mortgages-and-real-estate-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgages and Real Estate Loans - 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