The mortgage repurchase transaction is an opportunity to renegotiate your loan contract. A renegotiation with the aim of obtaining new financing conditions. Conditions adapted to the successful completion of your projects. So, how to combine mortgage repurchase with a new project?
The mortgage repurchase: how does it work?
The repurchase of mortgage is a banking transaction. It consists of undertaking negotiations between the borrower (s) and a banking institution in order to determine the refinancing conditions.
It is different from the renegotiation of interest rates which is carried out internally by the bank holding the outstanding amount. The real estate loan repurchase consists in having the outstanding capital of its mortgage loan redeemed by an external bank.
What is sought when undertaking a real estate loan (s) buyback process is to change the current financial situation. This results in a better rate obtained and / or a reduced repayment period for maximum financial gain on the operation. Or conversely, an extension of the amortization period at a more competitive rate in order to reduce the household debt ratio.
Generally, the repurchase of real estate loan distributed by traditional deposit banks such as the Caisse d'Epargne and Crédit Agricole, or the Société Marseillaise de credits, BNP, etc., does not make it possible to refinance consumer loans. Also, the extension of the repayment period is not possible with these banking establishments.
Associate a mortgage repurchase with new projects!
The Ficamont Finance mortgage repurchase product is an opportunity to completely rethink your budget. Unlike traditional deposit banks, our mortgage repurchase offer is much more flexible.
Indeed, more flexible with the possibility of renegotiating consumer loans by integrating them into the financing plan. As a result, you get a mortgage rate for refinancing your consumer loans. Also, the possibility of integrating a bank overdraft in order to start again on a healthy basis.
Thanks to a more attractive interest rate and an extension of the repayment period, you free up more borrowing capacity. Works can be financed up to 50% of the amount of the operation while being integrated into the new credit.
Ability to get an unallocated cash envelope that you can use as you see fit. Can be refinanced private debts, non-contentious debts, or a balance sheet. The operation must include a real estate share> 60%.
Do you want to invest in real estate? Are you for cause the monthly payment of your mortgage represents 33% of your borrowing capacity? Buy an Ficamont Finance mortgage to bring your debt ratio below 20%. And take out a new loan to allow you to carry out your real estate project!
August 2018: the real estate rate trend
The month of August 2018 shows even lower mortgage interest rates. According to a monthly CSA / Crédit Logement study , in July the indicator rates show 1.43% against 1.44% in June. The trend is down!
The duration of home loan contracts is 18.5 years or two hundred and twenty two months on average. Still according to the study by the Housing Credit Observatory / CSA, the credit market activity over a sliding semester increased the amount of its production to + 10.5%, and the number of loans financed to + 4.6%.
A finding of interest rates which have stopped falling by one basis point since the end of August two thousand and seventeen. It should be noted that this trend is intended to keep rates low in order to support the real estate market. To allow first-time buyers to become owners.