Buying a house is a very important step, a great investment and one of the greatest financial responsibilities that we
acquire throughout our lives.

Sky Marketing strives to be Pakistan's biggest real estate developer ever, guaranteeing the highest
international standards, prompt execution, and lifetime customer loyalty. With
projects like rawalpindidevelopment authority approved housing schemes
 

Advantage
It allows modifying practically all themortgage clauses , including reducing the installments, improving the interest
rate, removing commissions and adding / eliminating guarantees.
It is not always necessary to appraise thehome . For example, if we only want to change the interest rate, or change it
from fixed to variable, it is possible that the bank just requires
documentation, prior reports or appraisal of the home.
Disadvantages
The bank can reject our requests . Thenovation of the mortgage loan is not an obligation for the bank, so it can
accept new conditions or not. In some cases, and with the prospect of you
opting for a subrogation and taking your mortgage to another entity, banks are
more open to negotiate.
They can ask us for compensation .Sometimes the bank will accept our demands but will include new fees or new
products associated with the mortgage. This is an aspect that you should take
into account before signing a new novation deed for your mortgage loan.
The mortgage novation is a much simplerprocess than the subrogation to improve the conditions of your mortgage . Our
recommendation, as experts, is that you go to your bank and request
information.
 
So, remember that it is important toperform calculations, study the possible considerations or commissions, and
assess whether the expenses involved in this change are profitable in the long
term.
 
Do you have more questions about yourmortgage? At Deplace we help you find the best financing to buy your home.
Contact us. We are experts in the real estate sector.
RESOURSES
 
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