What are the steps to refinancing a loan?
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The customer fills in an application and submits the requested documents.
- Citadele evaluates the application and the submitted documents, and prepares an offer.
- Citadele informs the previous lender that the mortgage refinancing process has begun, and requests the information necessary for refinancing.
- The previous lender prepares and issues the information Citadele has requested within 10 business days.
- The customer and Citadele sign a loan agreement and other documents.
- Citadele informs the previous lender that the mortgage amendment process has begun.
- The previous lender submits their confirmation to a notary and informs Citadele.
- Citadele submits a corroboration request to the notary for the mortgage amendments.
- The customer signs a corroboration request in the presence of a notary to request that their mortgage is amended in the land registry in Citadele’s name.
- The customer submits the corroboration request to the land registry alongside their signed loan agreement and mortgage agreement.
- Citadele pays off the mortgage loan in full to the previous lender.
- If an additional sum is required for a purpose other than refinancing, the customer pays the government fee for corroborating amendments to collateral rights in the land registry: 0.1% of the additional loan sum.
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