When looking for capital, many financing solutions are available on the credit market. In order to make the right choice concerning the financing plan, and for it to be the most adapted to the needs of the borrower (s), it is essential to know the ins and outs of each loan offer proposed. This page is dedicated to cash mortgage lending and mortgage repurchase . Find out what each of these personal lending deals has to offer and how to get a mortgage fast .
The cash mortgage loan
The cash mortgage loan is available when a property can be submitted as collateral. In other words, the mortgage loan is backed by one or more mortgage registration (s) depending on the amount financed and the market value of the property (s). This is a guarantee of security for the banking establishment, in order to allow it to control the customer risk, if, however, the debtor was led to make appear during the amortization of the debt an accumulation of payments not honored.
The object of the cash mortgage loan is the financing of immediate cash available to the borrower (s). The cash envelope is free to use, its justification is made by simple sworn statement. It should be noted that the financing of a real estate acquisition is excluded.
Discover some examples of projects to finance with a cash mortgage loan :
- Cash to face the vagaries of life without selling your property.
- The personal contribution for the acquisition of a property as a second home or a rental investment if the financing at 110% is not possible.
- Fund children's higher education.
- Donation fees to children with a view to preparing the estate during the parents' lifetime.
- A cash payment during a divorce or a share buyback in order to obtain full ownership.
- Stay in a retirement home.
- Loan repossession
- The purchase of a high-end car, a boat, etc.
- Leisure (travel, etc.)
For a quick mortgage loan, your Excellai Finance advisor will do everything to allow you to obtain the cash envelope adapted to your repayment capacity. Check your borrowing capacity before committing.
The repurchase of mortgage loans
The repurchase of mortgage credits is like the mortgage loan of cash, a financing backed by a mortgage. This means that the loan amount is secured by the value of a property.
The grouping of mortgage loans consists of buying back a set of debts, credits (consumer and / or real estate (s)) with the aim of obtaining only one single monthly loan payment.
The repurchase of debts with mortgage gives the applicants the possibility of including a cash envelope in the new credit. However, unlike cash mortgage credit, the amount is much smaller.
This is because the object of a debt consolidation loan does not have the main purpose of financing a cash flow. The main object is the grouping of several loans, by definition at least 2 loans.