Advance as in a loan

Em Em

Member
Bahasa Indonesia
Deal All,

I need some help. About this sentence:

"For new loan, the bank will advance certain cost on your behalf, including the first properties/collateral valuation obtained."

In my understanding, the bank will provide a consumer loan and will paid down payment for a thing that the debtor wants to buy. The amount of the certain cost (and also the entire loan) will depend on the property/collateral valuation obtained by the bank. Is that correct?

By the way, this is a one paragraph only (a translation test), thus previous and further information for this sentence are unavailable.


Thank you very much,

Em
 
  • Edinburgher

    Senior Member
    German/English bilingual
    Is there anything more in the paragraph than this sentence?
    Is there any information about the circumstances in which the sentence would be used, and by whom?

    You say this is a translation test. What is being tested? Are you supposed to translate the sentence into some other language?
    Or is the sentence the result of a translation from another language, and you are being asked to identify the many errors in it?

    Normally, in lending contexts, the advance {noun} is the sum being loaned, and to advance {verb} is to lend the money.
    In this case, erroneously, it seems to mean that the lender is offering to pay some expenses as part of the deal.
     

    Em Em

    Member
    Bahasa Indonesia
    Hi Edinburgher,

    Thank you for the response. There's more sentences in the paragraph but none of them further clarified anything in this sentence.
    I have to translate this text into Indonesian but I do not really understand about bank lending/loan context.

    What do you think about the second part "including the first property obtained." Does it mean that the debtor provides collateral for the loan?

    Thank you again.
     

    Edinburgher

    Senior Member
    German/English bilingual
    As I said, the text itself is in bad English and therefore it is impossible to know what the intended meaning is, except by guessing.
    In this case, my guess would be that the context is mortgage lending (the loan is for buying a house, and the house will be collateral for the lona), and "first property" suggests that the property (house) that is being bought is the first one (*) that the borrower is buying.
    In other words, the borrower is what in the UK is called a "first-time buyer". Often lenders (banks) have special deals for first-time buyers.

    (*) To clarify: A person who is not a first-time buyer is someone who already owns a house, and wants to buy another house, usually because they want to move and sell the old house.
     

    Em Em

    Member
    Bahasa Indonesia
    Yes. It is likely a loan terms, like other terms that I usually skip reading and go straight to the "agree" checking box because their language are very confusing.

    Thank you so much for the enlightenment. That means a lot. :thumbsup:
     
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