The bank officer is obliged before conclusion of a loan he said agreement to explain all the relevant conditions of the loan agreement and obligations involved in borrowing to meet the requirement on responsible lending and provision of a warningВІ and to help the borrower make an informed loan decision.
Your decision on taking the loan will be produced by the applicant, who, in line with the supplied information shall evaluate suitability associated with the loan item and conditions to their loan interest and monetary condition and will be in charge of the effects of stepping into the mortgage agreement.
We urge the applicant to completely examine the conditions associated with loan contract become concluded, the feasible effects of using the loan as well as the enclosed information. The bank officers for explanations and additional information if you have more questions, please contact. Please contact your nearest SEB branch, to obtain the responses.
whenever examining the mortgage contract, it’s important to give consideration particularly towards the after
1. Amount and money associated with the loan that is appliedsee clause 1.1 associated with contract)
2. Loan disbursement term (see clause 1.2.3 regarding the contract), including informative data on whether or not the used loan is disbursed in a lump sum payment or in instalments (see clause 1.2.1 associated with contract) and whether this involves fulfilment of extra conditions because of the borrower (presentation of additional agreements, invoices, etc., see clause 1.2.2 regarding the contract). If the agreed disbursement term has expired or even the conditions that are additional loan disbursement haven’t been satisfied, the financial institution shall never be obliged to disburse the mortgage.
3. Information about the attention price and foundation to interest calculation (see clause 2 for the contract and calculation of great interest in the basic terms and conditions).
4. Term for doing the obligations assumed underneath the loan contract. The mortgage payment date is stipulated when you look at the agreement (see clause 3.1.). The loan that is entire be paid back by this date. The payments will be effected on the basis of the payment schedule if a payment schedule is prescribed for in the agreement.
5. Loan repayment conditions, like the term and regularity of instalments, development of great interest and amount that is principal of. 5.1 In the event that loan is paid back predicated on an annuity routine, the debtor shall spend the lender equal repayments (annuity re re payments) in every month. The annuity payment consist of that loan interest and repayment. The loan payment is smaller and interest payment bigger at the beginning of the loan term for annuity schedule. At the conclusion of the loan term, the unit may be the reverse. 5.2 In the event that loan is paid back in equal principal components, the debtor shall pay equal amounts that are principal to which interest will be added, for the loan term. Correctly, the quantity payable to your bank is significantly diffent in every month. 5.3 when there is no re payment routine, the loan that is entire be paid back from the loan payment date plus the interest, determined regarding the outstanding loan stability, will be compensated in every month.
6. Conditions of very very early payment, like the term for advance notice therefore the costs. The request of early repayment shall be submitted to the bank 10 days in advance and the bank shall have the right to a contractual fee as a rule. The total amount of contractual charge relies on the size of the duration amongst the very early payment and the mortgage payment date.
7. Conditions in regards to the amendment for the contractual conditions and feasible costs. As being a guideline, the contract will not include any conditions, which may entitle the financial institution to change the contractual conditions unilaterally. Nevertheless, if such conditions have already been decided, these will be placed beneath the chapter of unique conditions and covenants.
8. Unique conditions and covenants consented within the loan contract (look at clause of unique conditions when you look at the contract).