The strong base of known interest rates over the past few years has made it possible to consider first-time home ownership for many households. Mortgages and simulations that you can do on the net or our blog show that it is possible to consider a slippage of repayments to finance a property over many years. Interest rates are among the lowest in the world. market.
Make a mortgage?
Young first-time homebuyers often resort to borrowing to finance these properties but also apply for loans at zero rates, contributions through the family and relatives and constitute a solid case with the aforementioned elements for personal credit adding the warranty and the sales agreement (which can sometimes be replaced by a promise to sell for the former, a house building contract or a reservation contract for a sale in the state of future completion (what the real estate market professionals call Vefa purchase nine).
Facilitate the negotiation of a mortgage
As we mentioned, the bank or the lending agency has all the possible largesse to negotiate. Tariff schedules change depending on the profile of the borrowers, which means that you have an interest in negotiating well and soliciting various organizations to get the best deal possible. To prepare for this negotiation, you must clean your accounts.
Indeed, if you are regularly exposed, if your expenses are higher than your resources, borrow on a long term in a mortgage seems very delicate. On the other hand, the financial stability of an active couple is more easily acceptable and the conditions of the labor market or professional activity you exercise not only in terms of the bank’s commitment but also in terms of terms of cost (guarantee requested, borrower insurance for more difficult trades, etc.)
Try to rationalize your expenses if you are in the spirit of buying real estate!
This starts by avoiding overdrafts, limiting ancillary costs and concentrating your budgets in order to potentially generate a small contribution at the time of negotiation. This contribution is not to be included in the repayment capacity but favors the acceptance of the files by the lender. Similarly, an employee profile is more likely to obtain a loan than a person who regularly changes jobs. Bankers are followers of stability.
Accepting requests to repatriate bank accounts is often a way to get results in many cases. Automatic transfers will also be a reality for both resources and revenues as well as loan maturities.
The Loan Credit Blog to inform you about bank financing
To facilitate your efforts, we made this blog that takes tips, tricks and evokes the realities of the loan market . All banks and financial institutions operate globally in the same way when it comes to borrowing. However, nothing beats the advice of professionals such as brokers or bankers who will listen to your request. The legislation is changing a lot in terms of lending and credit, we are trying to reflect current realities with maximum precision.
If you notice an error, an inaccuracy or you want to share your experience with us, you can leave us comments on the articles of the blog concerned. Good reading.