What is the best collateral for a mortgage loan?

According to Tejarat News, Mohammad Reza Jamshidi, secretary of the Association of Private Banks and Credit Institutions, said about the status of mortgage loans: “Mortgage loans, which are offered in the form of a corona facility, are limited in terms of budget.”

Speaking on a radio program, he asked why private banks are tightening mortgages. He said that in all the instructions for granting the facilities, the banks are obliged to determine the collateral that they are sure will return.

The secretary of the Association of Banks and Private Credit Institutions called the property the best collateral for receiving a mortgage loan and added: “Such an event, if legal issues occur, can create a tripartite relationship between the bank and the owner and tenant.”

The secretary of the Association of Private Banks and Credit Institutions noted: “In government mortgage loans, the government is only effective in determining the percentage of legal reserve and can reduce a percentage of this legal reserve.”

Source: ایسنا

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