To obtain a gravitational interest rate absolutely should not be the only decisive criterion the choice of a real estate credit. The consumer must also take into account the possibilities of advance payment, because if its personal situation allows him or obliges this alternative there can appear useful.
Interest of the advance payment
The advance payment of a real estate credit is a right granted to the private individuals. This alternative constantly enables them to refund whole or part of the versed sums.
The recourse to this means is often justified by a notable change of the financial situation of the interested party. Indeed, that can make following a degradation or an improvement of its wallet. The banks cannot block at the request of the applicant. However, of the penalties can be imposed by those.
The principal interest of the advance payment is to reduce the real costs of borrowing while making decrease the duration of payment and/or the monthly payments to be regulated.
That can also make it possible to the borrower to recover sums or to even make profit on the credit insurance. Because with the opening of the loan, the consumer is held to subscribe to an insurance in the event of non-payment. This one will thus be restored to him in the event of total or partial refunding.
Way of calculating used and penalties
The calculation of the refunding of the credit is done according to the budget of that which subscribed there. But, it is necessary well to pay attention so that the trust deed does not mention a prohibition of partial refunding below 10%, except in the event of balance the account.
Most offers of bank credit subject the recourse to the faculty of advance payment to the imposition of penalties. But these additional expenses are limited and follow a strict formula of computation. The amount corresponds to one six-month period of interests to the average rate of the credit. The sums thus punctured should not nevertheless exceed a ceiling of 3% of the capital remaining due.
The precaution to be taken in the choice of a real estate credit is thus the possibility for the consumer of being able to negotiate the various expenses relative to its loan.
Particular measures of the refunding of credit
The refunding of credit is as we already said a right for the borrower. That enables him to shorten in a more or less significant way the impact of its credit on the court or the long run.
The advance payment can is to be partial or total. A prior study of the financing and part of the savings will be used just like with the subscription of the real estate credit. Similarly for the subscription, it is necessary to be particularly vigilant as for the conditions of refunding. One can indeed ask during the phase of negotiation of the loan for a total suppression of the penalties in the event of advance payment.
If the loan were carried out already several years ago, one will take care to check the profitability of a repurchase of credit.
Moreover, for the loans secured after July 1st, 1999, a complete exoneration can be obtained in certain cases. That concerns inter alia the removals operated in the professional situation of the borrower, but also in the event of forced suspension of a gainful activity. |
