purchase - holiday cottage, cooperative apartment, condo in private ownership, building land, reconstruction, completion, construction, SJM settlement, settlement heritage, refinancing a mortgage, refinance a bridging loan from building savings, refinancing equity.
The bank does not require proof of purpose, then it is a so-called American Mortgage. Here the bank is not on what resources you use, you should use them to purchase cars. But the bank for this type of mortgage has a higher interest rate.
Encumbrance is very often!
Mortgage is repaid in regular monthly installments, the same amount. The repayment period usually ranges around 20 years, but not excluding even longer repayment period. Generally the loan should be repaid within 65 years of applicants. Of course you can pay off the mortgage sooner.