JAKARTA - KPR is one way that a person can do to have a dream home, but the ongoing mortgage is not always smooth.
Various obstacles and problems that have an impact on the mortgage payment process can arise in the future, both in the form of finance and not.
Some of them, namely inflation, recession, layoffs, child birth costs, unexpected health costs, decreased business turnover, to high floating flowers.
To relieve, even solve these problems, there is an option to switch mortgages as a solution.
Then, what is a mortgage move? Why are mortgage transfers profitable? What are the requirements and documents needed? How to apply?
Come on, take a look at the discussion about moving mortgages!
What Is Moving Mortgages?
Moving mortgages or taking over mortgages is an alternative option to divert mortgage financing that is currently running from the original bank to other banks.
In short, the mortgage transfer can also be referred to as a creditor shift.
Due to the transfer of banks, the applicable policies will also change, such as interest and tenure.
Profits Of Moving Mortgages
Someone must have made the decision to move the mortgage with various considerations, including the benefits. What are the advantages of moving mortgages to be obtained?
First, moving mortgages can cut the total cost quite large, even the value of savings can penetrate the hundreds of millions of rupiah.
Second, high floating flowers can be avoided because usually new banks or creditors will return the floating flower tempo to a relatively lower fixed interest period.
Third, changing the tenor is not impossible if the applicant chooses to take over. Usually, the applicant can extend or shorten the tenor according to his ability.
Fourth, another advantage that will be obtained by applicants to move mortgages is the opportunity to change the type of mortgage. For example, changing the type of mortgage which was originally conventional to sharia mortgages or vice versa.
Fifth, several banks sometimes provide lucrative promos in addition to low-fixed interest offers and easier processes. One of the mortgage transfer promos that is profitable is cashback.
Simulation Of Transferring Mortgages
Perhaps, it is difficult to see the picture of the mortgage moving system and its advantages clearly. Therefore, the example of the case with the following mortgage transfer simulation can describe the system and advantages of moving mortgages more easily.
Firman bought a house for IDR 1 billion with a down payment (DP) of 10% and a tenor for 20 years at bank A. So, the mortgage ceiling is IDR 900 million.
At Bank A, Firman received 3% fixed interest for 1 year, so that the first year's installments were around Rp. 4,991,378 per month.
When entering its second year, fixed flowers no longer apply and switch to 14% floating flowers. As a result, monthly installments rose to IDR 10,884,016.
With the condition that Firman has made installments for 4 years or 48 times, he plans to move mortgages. How much can he save by moving mortgages?
To simplify the example of the case, pay attention to the following table.
With the rest of the ceiling worth IDR 831,128,912, Firman wants to switch mortgages from bank A to bank B.
At Bank B, Firman plans to continue the remaining tenor, which is 15 years.
Firman also received 6.75% fixed flowers for 8 years. After that, fixed flowers will switch to 14% floating flowers when entering their 9th year.
Per month's installments that Firman needs to pay at bank B will change to Rp7,354,738 from Rp10,884,016.
Firman also needs to pay a provision fee of 5% worth IDR 41,556,446 and a 3% penalty fee of IDR 24,933,867.
In addition, the total payment has also changed. In bank A, the total payment is IDR 2,089,731,061. By moving the mortgage to bank B, the total payment decreased to IDR 1,479,398,347.
So, by moving to the KPR, Firman got a potential savings of around Rp. 543,842,402.
Requirements And Documents For Transferring Mortgages
After knowing the benefits of moving mortgages, it is also necessary to find out the requirements and mandatory documents.
Although the bank will re-appreciate or reassess the price of the house that will be guaranteed in advance, as well as conduct credit analysis and check data again, the applicant does not need to worry about the timeframe of the mortgage transfer application process.
Because the data and history of the applicant's mortgage has been recorded in the previous bank, the process of submitting a mortgage transfer can take place more quickly.
In order for the process to run smoothly, the applicant can prepare the following documents:- The credit application form- Photocopy of KTP- Photocopy of Family Cards- Photocopy of Marriage Certificates or Divorce-Pas the latest photocopy of applicants and partners if they are husband-wife-wife photocopy slips of the last salary (special employees)- Photocopy of Decision Letter of appointment of permanent employees (special employees)- Photocopy of passbooks or checking accounts for the last 3 months- Photocopy of SPT PPh 21- Photocopy of NPWP- Photocopy of TDP, SITU, SIUP, as well as deed of establishment of businesses and their changes (specifically entrepreneurs)- Photocopy of Practice Permits (specifically professional)- Photocopy of SHM/SHGB and IMB
How To Apply For A Mortgage Transfer
Usually, applicants can apply for a direct transfer of mortgages to the desired bank branch offices, especially since banks apply different policies.
However, applicants can also apply for a mortgage transfer through the IDEAL application online, easily, and safely.
By submitting a request to take over mortgages through IDEAL, applicants can enjoy various benefits, such as being able to apply to three banks at once, checking credit history quickly, calculating cost estimates and savings in detail, professional assistance with the IDEAL KPR Specialist, and the opportunity to get cashback of up to IDR 3 million during the promo period.
All submission processes to contracts are easier than just one IDEAL application.
IDEALS have also been officially registered with the Financial Services Authority (OJK) and certified ISO2701.
That's a must-know discussion about changing mortgages. So, don't hesitate to live more IDEAL with your house from now on!
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
