It is often the financial investment of a lifetime. Only 58% of French households in 2015 own a property and they were already 54% in 1987.
The result of figures which is explained by a long period of stagnation of inflation in the real estate market . In addition, the democratization of consumer credit limits access to mortgage credit .
Almost a third of the French thus have an insufficient capacity to be able to repay a money debt, and as a result, an inability to claim access to the status of candidate borrower for home ownership . Often, it is the personal loans taken out to consume consumer goods and services that are the cause of this ineligibility.
Discover one of our solutions which consists in setting up a reconfiguration plan for the management of current accounts. Find out for more advice and info, how does credit redemption work ?.
Giving up on a real estate project , moreover the purchase of your main residence, would be a shame. Solutions exist, which is why Ficamont Finance provides you with a team of expert financing advisers to help you carry out your project and avoid the pitfalls of mortgage loans !
The key steps to properly finance your project
Determine your personal contribution
Before making your real estate purchase , it is essential to estimate the amount of your own funds that will be injected into the project.
If the banks advise a minimum contribution of 10% in relation to the cost of the building which is the object of the acquisition, this is not a contractual condition to be eligible for financing by mortgage .
In reality, it turns out that each borrower file is specific to its own case, and requires an in-depth study of the applicant's financial situation in order to define the most favorable conditions possible.
Within the framework of the acquisition of the principal residence , it is advisable to present a personal contribution to ensure at least the expenses of notaries, or even more.
Conversely, when it comes to a rental investment , it is desirable to pay off the amount of money borrowed , as much as possible by means of the bank loan. In fact, loan interest is fully deductible from property income to be collected.
In addition, it is imperative to keep a cash envelope in the event of contingencies leading to one or more exceptional expenses (car breakdown, high financial charges, etc.).
Evaluate your debt capacity
Before considering any investment, it is necessary to estimate the amount to which you can claim under the real estate grant .
Indeed, there is no point in choosing a property when you are not sure of the feasibility of your project.
In order to have an objective and precise idea, it is recommended to contact an expert real estate financial advisor . From the income and the sum of the monthly expenses to be borne, the household debt ratio is determined as a percentage.
Thus, financial charges should not exceed 33% of household income . If this is the case, use the services of the credit broker Ficamont Finance is a tailor-made solution to reduce budgetary debt through debt and receivables restructuring, and thereby optimize budget management. .
Find the property of your dreams
After having tied up the financial part of the project, it is then necessary to find the ideal good. For several years, we can only note a strong real estate speculation which tends to persist. To avoid this phenomenon, nothing better than to arm yourself with patience before committing.
Thanks to the internet, it is now possible to know the price per m2 depending on the region.
In addition, structures are now specialized in energy analysis and the study of compliance with building rules.
Negotiate the best bank financing conditions
Competition is fierce between the various banking organizations. We often think wrongly that the bank to which you are loyal will make the best offer. This is false because the mortgage is today a product of appeal for the financial establishments.
Although the interest rate is a major factor, it is also essential to compare the cost of insurance and the quality of the cover.
Finally, you have to take into account any administrative fees and early repayment penalties.
The same type of funding for various realities
The purchase of the main residence
This real estate project should be distinguished from other real estate investments. Indeed, it is a major turning point in the life of a household.
In addition, in the context of this real estate purchase, the investor may benefit from specific advantages.
Thus, first-time buyers, who have not owned their home for at least two years, are eligible for the Zero Rate Loan. The latter is state financing without repayment interest.
As part of this acquisition, it is recommended to have a sufficient personal contribution in order to pay the notary fees and ancillary charges.
Bridge loan financing
In practice, this type of loan makes it possible to finance a real estate object pending the sale of real estate or a short-term cash flow (maximum 2 years).
It is the realization of the expected event that will give rise to the reimbursement of the funds advanced by the bank.
Given the inertia of the real estate market, this type of financing is inherently risky. In order to avoid any bad surprises, it is preferable to make sure that it will be possible to honor the reimbursement, for example by signing a sales agreement.
Unlike other real estate financing, the purchase of a rental property is a profitable investment.
The buyer will generate profits from the rental.
Very often it is a project that is associated with a desire to tax exemption. As part of a number of tax exemption mechanisms, the owner will benefit from significant tax privileges while supplementing his activity income.
Buying a second home
It is an investment "blow of heart" par excellence.
We often do it for fun and not for a question of utility.
It is possible to use the mortgage loan always taking into account the debt ratio of the household and this even if the property is located abroad.
The consolidation of real estate loans: the solution to carry out your projects in peace!
If you have a real estate project without the ability to borrow the cash necessary for home ownership , then we have the answer to your problem ...
Ficamont Finance is committed to your side!
We provide you with a team of experts to help you complete your real estate acquisition!
After the assembly and a careful analysis of your file, we submit it to our bank credit redemption partners in order to reduce your debt ratio and thus make your "borrower" profile better with lending organizations.
Ficamont Finance offers various financing solutions that allow you to either buy your first home or make a rental investment to free up additional resources and build up your real estate assets:
- Consolidation of consumer loans and miscellaneous debts
- Consumption and real estate credit consolidation
- Real estate loan repurchase
More information ? Contact your Ficamont Finance loan buyback specialist , who, depending on your profile and your needs, will be able to provide you, thanks to his expertise and knowledge, with the financing that meets your ambitions. Do not hesitate any longer, fill out our personalized online inquiry form now.
The credit that accompanies you towards the realization of your real estate project!