Typical Features of a Mortgage Loan – Maybe you’ve read a similar or similar article, but this article is different because we have taken it from a trusted source, following the characteristics of a mortgage loan.
Mortgage is a debt that uses fixed assets as collateral. fixed assets of the company for example buildings, buildings, houses, machines, land and ships.
Companies that need funds to grow to heal various efforts to meet long-term funding needs. You can take ways to increase capital, use retaired earnings or go into debt.
For the long term. Apart from bonds, a mortgage or also known as a mortgage is a type of debt that is most often used.
Generally, the creditors with a mortgage loan scheme are banks. Of course, with certain banking conditions that must be met if you want to get a mortgage loan.
Mortgage maturity is a fairly long period of time. Can be 15-25 years.
After the mortgage loan agreement exists, the creditor or lender will hold ownership of the company’s assets. However, during the installment period, debt and interest payments. The company can still occupy, utilize, and operationalize these assets such as the company’s own fixed assets.
The definition of a mortgage is also known as a ‘claim on property’. If the borrower cannot make mortgage payments. Creditors can confiscate the assets that are used as collateral for the mortgage.
# 1. Fixed Interest Mortgages
With this fixed interest scheme. The money borrower will pay the principal and interest loan as agreed. The interest paid has a fixed interest rate. It doesn’t change.
So if in the future the general interest rate fluctuates, the mortgage debt interest rate will not change.
Maybe next month the general interest rate will go up, then the mortgage debt interest rate will not go up. And vice versa. If in the future the interest rate generally decreases. Then the mortgage rate is still fixed.
# 2. Floating Interest Mortgage
There may be other terms which are more precise and more general. The meaning of floating interest is. The interest rate paid under this scheme is not fixed or floating. Follow the bank interest rates that apply in the market.
Maybe this month the mortgage interest rate will be a certain percentage. But in the next period, the numbers may change. It can go down and it can also go up. In accordance with the bank interest rate.
The object of mortgage debt is immovable assets that can be transferred along with all existing equipment. For example, guarantees for all land with ownership rights. Utilization rights and building use rights, such as building houses, factories, warehouses, hotels and so on.
Ocean boat mortgages.
In Indonesia, ships can become objects for mortgages. The size of a ship that can be used as collateral for a mortgage is a ship measuring 20 m3 (gross) and above.
Typical Features and Nature of Mortgages
The characteristics of mortgages based on the Civil Code are as follows:
Ondeelbar, is a mortgage that cannot be distributed because the mortgage is above all the assets that are its object. This means that if part of the mortgage debt has been paid, part of the mortgage rights are not automatically written off.
Accecoir, is a mortgage is an additional agreement. The main agreement is a accounts payable agreement.
Verhallsrech, Confused how to read it? Berhaalsrecht is the right regarding debt repayment only. Do not have the right to own objects that are guaranteed. However, if it is agreed, the creditor can have the right to sell the collateralized asset under his own power if the debtor commits negligence.
Based on the Civil Code, the properties of mortgages from those in material rights are usually such as:
Absolute, is a right that can be defended against all demands from anyone.
Droit de Suite is a right where the rights follow the assets that are guaranteed to be in whose hands the assets are located.
Droit de Preference, is someone who has the right to prioritize payment of their debts among other lenders. The right here is not affected by the bankruptcy situation or the confiscation of the guaranteed asset.