Open24 Mortgage

Is Open24 a good mortgage lender?

Mortgage is defined as a debt which is secured in having collateral of your property and the borrower would pay back with a previously determined agreement. People find it hard to purchase large real estate that is why, they have mortgage with the bank to help in saving them. Banks offers different mortgage plans, some might be good and some might be bad in the sense that the interest rates are so high for you to pay. Open24 offers mortgage and it is quite comforting to know that they have a good mortgage plan for their clients.

Open24 is committed

Open24 is cooperative enough in working together with their clients if they have problems managing their repayments to the bank. They assure their clients not to be worried for they will find ways on how to solve the problem. They provide a guide for the homeowners so that they would be assisted with their current difficulties. Their strategy is to provide advisors in each braches to talk to their clients in looking for the best options.

They are offering many alternative arrangements on how to repay the mortgage. It depends on a case to case basis.

1.    Capital Payment Holiday. This option would just allow you to pay your interest only for a limited time only.

2.    Interest and part Capital Option. This would not only allow you to pay the interest, but also some of your capital for it.

3.    Moratorium. This allows the client to refrain from paying the mortgage or part of it just for a temporary basis if the he or she really has a big financial problem.

4.    You can extend your mortgage term also and this would entail that you would only pay a reduced amount of your monthly dues.

5.    Clients can add their arrears to what is left in their principal balance. They can them through the whole life of their mortgage.

6.    You can also change the type of your mortgage that if the option of the other type would be better that the type you are having now.

7.    Clients can also choose a scheme that would let them pay only 66% of their interest and the rest would be laid to rest for up to 5 years.

Open24 online banking is concerned with their customers’ feelings. That is why they let them allow writing their own appeals for the mortgage restructuring. When it comes to the interest rate of the mortgage, it comes in a reasonable percentage that would let the client feel undisturbed.

All in all, Open24 is a good mortgage lender for they give their clients the flexibility on repaying their mortgage back.