Taking out a mortgage is one of the most important and complex financial decisions a person can make in their life. There are several common problems that may arise in the process, as well as possible solutions for each:

Excessively High Interest Rates:

• Problem: Often, borrowers may encounter high interest rates, making it difficult for them to pay the monthly installments.
• Solution: Comparing and negotiating with multiple banks and financial institutions can help find the offer with the lowest interest rate. Also, reconsidering the mortgage periodically may be relevant.

Pre-Approval for a Mortgage:

• Problem: It can be challenging to obtain pre-approval for a mortgage, especially if you have a less favorable financial history or low repayment capability.
• Solution: Working on improving your financial data, such as credit score and stable income. Also, applying for a mortgage with a spouse or guarantor before the bank can help.

Low Loan Amount:

• Problem: The bank is unwilling to provide the desired loan amount, which may force you to look for a property at a lower price.
• Solution: Increasing your own capital or offered guarantors can improve the chances of obtaining the desired loan amount.

Payment Flexibility:

• Problem: Lack of flexibility in the repayment schedule can complicate matters in the event of changes in financial circumstances.
• Solution: Proper planning of the mortgage with options for early repayment, changes in the repayment schedule, or payment holidays can help if needed.

Misunderstanding of Associated Expenses:

• Problem: Many do not understand all the associated costs of buying a property and taking out a mortgage, such as commissions, insurance, and taxes.
• Solution: Preparation of an accurate budget and consultation with mortgage consultants, financial experts, or real estate attorneys before making a decision can help understand all expected expenses.

Fixed-Rate vs. Variable-Rate Mortgage:

• Problem: It's not always clear which type of interest rate is preferable - fixed or variable.
• Solution: A mortgage consultant can help understand the differences and choose the most suitable option to get the best terms on the market.

Starting the mortgage process with extensive knowledge and understanding of the various options, being prepared for anything, and weighing professional advice in this field is advisable.