Lending object
Lending object (in Switzerland: lending object ) is generally any type of security in the banking sector and specifically a property that serves as security for a loan .
General
In the banking sector, the term loan object is usually narrowed down to real estate. Real estate is undeveloped land , residential property or commercial property . Residential properties include multi-family or single-family houses and entire residential complexes . Medical practices , office buildings , retail properties , warehouses or entire industrial areas come into question as commercial properties . For the purpose of credit check that gets credit institution in the context of property financing from the property owner collateral documents , which give rise to the legal and economic conditions of the mortgaged property. The most important result of the test is the determination of the mortgage lending value , on the basis of which the lending limit determines the loan amount. Lending objects play a key role , especially in mortgage loans and real estate financing .
Collateral
Upon completion of the loan agreement the affected properties are a mortgage ( land charge , mortgage or mortgage ) on at least one property or a leasehold rights in favor of the lender charged. By registering the real estate lien, the property becomes a loan object. This may in accordance with § 13 para. 1 PfandBG only on land , land rights or such rights of a foreign legal system overload, the German the land rights law are comparable. The loan objects must that provision is in a Member State of the European Union or another signatory to the Agreement on the European Economic Area , in Switzerland , in the United States of America , in Canada , in Japan , in Australia , in New Zealand or Singapore be localized . According to Section 16 (2) of the PfandBG, the " market value is the estimated amount for which a loan object could be sold in a transaction in the ordinary course of business on the valuation date between a seller who is ready to sell and an acquirer who is willing to buy, after a reasonable marketing period, whereby each party with expertise, Acts prudently and without compulsion ”.
The registration, which often takes a long time, can be bridged in Germany by a certificate of rank , which enables a loan to be paid out before registration. It is irrelevant whether the borrower himself is the owner of the object to be lent or a third security provider (see security agreement ). In addition, the object to be lent does not necessarily have to match the investment object.
In the context of a mortgage , not only the actual building is liable for the secured loan , but also its essential components and accessories according to § 1120 BGB , the rent and lease claims according to § 1123 BGB (for rented or leased objects on loan); According to § § 1127 ff. BGB, insurance compensation , in particular building insurance ( § 1128 BGB) and other damage insurance ( § 1129 BGB), is also liable .
Requirements for the object to be lent
The mortgaged property and the mortgage have banking supervisory law of the EU-wide Kapitaladäquanzverordnung (abbreviation CRR) According meet certain requirements:
- Lending object:
- it must be usable promptly (Art. 208 para. 2c CRR),
- it has to have adequate damage insurance (Art. 208 (5) CRR),
- it must be estimated by an independent expert (Art. 229 Para. 1 CRR) and
- it must be monitored annually (commercial real estate) or every three years (residential real estate) (Art. 208 CRR);
- Mortgage lien:
- Art. 208 para. 2a CRR requires the legal enforceability of mortgages in all relevant legal systems and
- According to Art. 208 Para. 2b CRR, the mortgage must meet all legal requirements.
Residential properties that meet these requirements and are used or rented by the owner themselves receive a risk weighting of 35% of the risk-weighted credit (Art. 125 No. 1a CRR) for the risk position in the standardized approach , whereby the value of the residential property does not have a significantly positive credit rating of the borrower may correlate (Art. 125 No. 2a CRR). This includes industrial properties used by the borrower himself, the values of which depend significantly on the income that he achieves through the special use of the commercial property (e.g. for factory buildings). According to Art. 126 No. 1a CRR, commercial real estate is assigned a risk weight of 50%. In the case of commercial real estate, the third-party usability of the loan object is important.
Others
Since the loans therefore do not have to be fully backed by the lending bank's own funds , lower credit margins can benefit the borrower , especially with real estate loans . If the loan object is to be sold, the lending bank must first approve the release of the loan security . The load with a mortgage is not an obstacle in the sale, because the value date (the outstanding loans) is taken into account by crediting the purchase price and a mortgage cancellation can take place as soon as the bank has received a refund of the purchase price or a replacement security.