Do you have a mortgage loan with Artea bankas?
Do you have a mortgage loan with Artea bankas and are considering refinancing?
Let’s discuss your mortgage loan terms.
Do you have a mortgage loan with another bank?
Do you have a mortgage loan with another bank and are considering refinancing?
Fill out the application form and we will contact you.
Mortgage loan refinancing
Mortgage loanrefinancing involves taking out a new loan to repay your existing loan with another credit institution. In many cases, refinancing allows customers to adjust the repayment period (either by extending or shortening the term), increase the loan amount, or negotiate other important terms with the new lender – terms they may not have been able to agree upon with the current lender.
If you only want to adjust the interest rate of your existing loan, without changing the loan amount, collateral, or maturity, and you have a strong track record of meeting financial commitments, you can take advantage of the simplified refinancing option once every two years.
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Refinancing will cost you nothing extra – there will be no arrangement fees, and the new lender will cover the cost of an independent property valuation (if a valuation report is required), as well as notary and public register fees.
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The new lender will obtain the necessary documents directly from your current lender – no action is required on your part.
The terms of simplified refinancing apply both to new loans and to revising the terms of an existing mortgage loan with the same bank (if you also apply to another credit institution).
If you decide to switch to a new lender, your current lender cannot charge you any fees or compensation, except for early repayment fee if the original loan was granted at a fixed interest rate. If you have used the services of a credit broker, you will also have to pay the fees charged by the broker.
Do you have a mortgage loan with Artea bankas?
We recommend consulting with a member of our staff to review your mortgage loan terms first. This may help you avoid the need for a new property valuation and re-registering the mortgage with a notary, which would be required when refinancing with another credit institution.
Fill out the application form and we will contact you.
If you work abroad, earn income through self-employment or a business licence, or have income from investments or business activities, you will need to provide relevant documentation to support your income.
Simplified refinancing is completely free for customers and is available once every two years at no extra cost.
Do you have a mortgage loan with another bank?
Thank you for your interest in our bank’s services. Fill out the application form and we will contact you.
You can take advantage of simplified refinancing if:
- you do not wish to change the loan amount, the collateral or extend the term of the loan;
- you have responsibly met the financial commitments you currently have.
You can take advantage of simplified refinancing once every two years.
Yes, we will carry out a creditworthiness assessment before you refinance your mortgage loan under the simplified procedure, in the same way as when you apply for a new mortgage loan or refinancing under the standard procedure. After assessing your creditworthiness, we can make an offer to refinance your loan or refuse to do so.
Please note that failure to meet your financial obligations can have a negative impact on your credit history and make borrowing more expensive.
- Submit an application.
- Only then, if we ask, you will be required to provide a new independent property valuation report
- Receive a loan refinancing offer and assess its acceptability.
- Sign a mortgage loan agreement.
- Mortgage real estate in favour of the bank and de-register the mortgage in favour of the former lender.
If you work abroad, earn income through self-employment or a business licence, or have income from investments or business activities, you will need to provide relevant documentation along with the application to support your income.
We will discuss other required documents, if any, during the consultation.
As the refinancing bank, we will waive the arrangement fee, cover the notary and public registry fees for pledging the property to the bank, and reimburse you for the costs incurred in the public registry when de-registering the mortgage with the current creditor.
After signing the agreement with the bank, we will also reimburse the cost of an independent property valuation if you incurred it at our request.
If you have a variable-rate loan, you cannot be charged an early repayment fee by the other credit institution. However, it may apply if you have a loan with a fixed interest rate.
You can refinance your loan under the simplified procedure once every two years. For example, if you refinance today under the simplified procedure, you will be eligible again in two years (the two-year limit does not apply in the case of standard refinancing or making other changes according to your existing contract with your current credit institution).
You can refinance your mortgage loan at no additional cost under the simplified procedure once every two years. In any other cases, standard conditions and fees apply.
We recommend that you carefully assess your personal and/or family financial capacity before making financial commitments. Failure to meet your financial obligations can have a negative impact on your credit history and make borrowing more expensive. Artea bankas will assess your creditworthiness before issuing the loan and may refuse to issue it.
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