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Timestamp: 2019-02-16 17:09:43
Document Index: 735613045

Matched Legal Cases: ['in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine', 'in fine']

Posted by : Elizabeth Field Uncategorized
Also known as “soft loans”, regulated loans help buyers to complete their financing plan in addition to traditional home loans.
How do these loans work, exactly? And what help can you get to buy your future home? This is what we will detail right away.
What is a regulated loan?
Regulated loans are loans governed by the state. They complement a traditional real estate loan, allowing subscribers to benefit from more attractive interest rates than the market. As a result, you increase your chances of convincing the lending institution to trust you, while significantly reducing the overall cost of your loan.
These regulated loans serve a very specific purpose: to help first-time buyers finance the acquisition of their principal residence. They have many advantages, in particular because they are cumulative between them. But beware: regulated loans are “complementary” loans: they only finance part of the acquisition.
What are the different regulated loans?
Let’s take a look at the regulated loans that you could qualify for as a borrower.
Of all regulated loans, this is probably the best known borrower. The zero-interest loan comes in the form of a loan-free loan (and not just interest-free!) Intended exclusively for first-time buyers. The amount covered by the PTZ depends on the price of the target property, its location (areas A, Abis, B1, B2 and C), the composition and resources of the household. It is used to finance a project to buy a principal residence in the new or old (knowing that the latter case is much more complex).
Social Accession Loan
SSP is part of the means tested conditional loans, just like the PTZ. It applies only to the acquisition of a principal residence in new (including off-plan) or in the former. It can also be used to fund major expansion or energy upgrades. Its rate is fixed by the State and it gives right to the APL.
Among regulated loans, the loan is an exception. It is offered by banks and mortgage brokers who have entered into an agreement with the State, and its rates are freely fixed by the institutions (within the limits of ceilings defined by the government). When market rates are low, the contracted loan loses its usefulness. But it retains its two main advantages: to open right to the APL and to be subjected to no condition of resources.
The Housing Savings Plan
The famous ELP is a savings account dedicated to the financing of a real estate purchase. The amount saved is usually intended to be used as a personal contribution. The ceiling is set at € 92,000, including interest.
The former 1% Housing comes in addition to a home loan for the purchase of a principal residence. What differentiates it from other regulated loans is that it is offered by private sector companies with more than ten employees, as well as retirees who have been away for less than five years. The Action Logement loan is reserved for first-time buyers and subject to income ceilings. It allows to buy an old property (without works) or new (provided to respect the energy standards in force).
Note that public servants benefit from their own regulated loan.
Loans from local authorities
Let’s end this overview of regulated loans with an unrecognized credit granted by local authorities. These play a decisive role in home ownership, especially through the aid provided by municipalities. This aid is intended to help finance a new or old property as a principal residence, only for first-time buyers, and subject to resources. Some departments also offer their own supplementary loans.
In low-income households, getting a personal loan has become an absolute necessity that can not be deviated.
When the need arises, it is necessary to quickly find the necessary funds for the acquisition of goods and services or the elimination of a lack of cash. Here are 3 essential tips to get a cheaper personal loan.
Find a cheaper personal loan on the net using a comparator
In their online platform, banks, lending institutions and individuals offering personal loans offer attractive proposals. With a borrower, you should know that a loan is not a lost-rate loan. It’s a commercial transaction like any other. She has to make money. The interest earned on the loan represents the lender’s sources of income. Plus, the loan amount is high and its repayment term takes time, plus the interest rate applied by the lessor is up. Since each financial institution has its own rate grids and award criteria, all visible online offers must be reviewed and compared. Playing the competition using a comparator is the best way to get a cheaper personal loan.
Make a loan simulation to get a cheaper personal loan
To date, most banks and credit agencies provide users with a free, fast, and non-binding credit simulation tool. In order to take out a customized personal loan, it is essential to first assess the real cost of a project.
The knowledge of its current repayment capabilities and future relatives is essential to a borrower. Given this amount of money, he is able to set the probable repayment period for the loan and subsequently obtain the appropriate rate for his project. Since the interest rates applied vary from one organization to another and from one project to another, it is wise to do a simulation of calculation at several institutions. This will allow him to find the best rate likely to meet his expectations.
Negotiate the lowest rate with the lender
At the end of a loan simulation, you can immediately proceed to an online application that will be followed by an agreement in principle. It is the case if one carries out the operation on the site.
Negotiating a preferential rate by directly presenting the project to the lender makes it possible to obtain a cheaper personal loan. This option requires more time compared to the demand on the Internet but, the total cost of the project would be lower. This will certainly relieve the already weak income of the borrower.
In any case, getting a cheaper loan can be done quickly. The hardest thing remains to respect its commitments by carrying out the payments of monthly payments within the agreed deadlines. Non-repayment discredits the image of a borrower and may lead to a situation of over-indebtedness.
What is a loan in fine and its advantages?
The loan in fine is a very specific type of loan. Unlike the conventional depreciable credit, generally used in the financing of a property, the credit in fine allows to repay the principal only at maturity of the contract. Capital is therefore not amortized over the years, and the borrower pays monthly payments consisting solely of interest. How exactly does this loan ultimately work, and what are its benefits?
Operation of the loan in fine
The vast majority of loans work the same way: you borrow a sum of money that you repay at regular intervals until the balance, each monthly payment including a portion of the amount due and a percentage of interest. But the loan in fine, it is different in that it offers the borrower to pay the entire capital due at the end of the contract.
In the meantime, what’s going on? You still have to repay monthly payments to the lending institution, except that they consist of only two things: loan interest and insurance costs. The capital, it remains intact until the maturity of the credit.
In return, however, the amount of interest increases drastically. To get an idea, a loan of 100,000 euros at a rate of 2% over 15 years will pay only 166 euros per month instead of 645 euros for a conventional credit; but because of the higher interest, it will also cost 30,000 euros instead of 16,000 euros!
Of course, ready in fine or not, it is still to pay your loan. This means that you have to put the money you do not spend for repayment on time, for example on a specially adapted savings product (usually offered by the bank concerned, which sees it as a real guarantee). You can also choose to resell the real estate that you bought to be able to clear the credit.
Why take out a credit in fine?
The main advantage of the loan in fine is the drastic reduction in the amount of your monthly payments. Because your regular repayments only include borrowing interest (for the most part), they are reduced to amounts that encroach much less on your daily budget. In addition, the amounts are constant throughout the term of the loan.
Nevertheless, the money thus earned must be saved in order to pay the outstanding balance at the end of the contract. This is another advantage of the loan in fine: you have the opportunity to invest this money on attractive savings products (Livret A, life insurance) or to invest in it, in order to obtain savings. interests. Which would not have been possible if you had paid full monthly payments from the start!
Finally, there is one last important advantage, but it concerns a specific category of borrowers: investors, who are also the first targeted by this type of credit.
A tailor-made loan for investors
Due to its specific nature, the loan in fine is not intended for all borrower profiles. First, the duration of borrowing is generally less than for conventional credit: between 3 and 15 years. Then, the borrower insurance (with a guarantee against death or disability) must cover the borrowed capital as well as the monthly payments. Finally, you should know that interest is almost doubled.
In fact, credit in fine is mainly reserved for a very particular category of borrowers: rental investors. With this system, the total amount of interest is significantly higher than that of a depreciable credit. This mechanism therefore benefits taxpayers who are heavily taxed, who can deduct their loan interest from their property income and thus realize significant tax savings.
In short, credit in fine is a type of borrowing that is infrequent but particularly interesting – provided you make a rental investment and control the tax mechanisms!
You have decided to invest in real estate?
Are you ready to go looking for the house or apartment of your dreams? To achieve your ends, you will have to take out a mortgage – a long-term operation that requires going through many steps. Here is a practical guide to accompany you throughout your mortgage.
Estimate your budget before looking for the property of your dreams
Do you know how much you are able to borrow at the bank? Do not wait to have signed a sales agreement to find out: proceed to estimate your budget upstream of your real estate project. In order :
Take stock of your personal contribution . This is the amount you will inject into your home loan, usually 10% of the total amount borrowed. Knowing that the subsidized loans have value of contribution in the eyes of banks.
Estimate your borrowing capacity : to get it, add up your monthly income and deduct your expenses (current credit, rent, insurance contracts, mandatory fees). Your borrowing capacity can not exceed 33% of your income.
You will have an estimate of the mortgage you can contract – and an idea of ​​the type of property you can buy.
Seek out the most advantageous home loan
Once your future home is found and the sales agreement signed, you have a period of 45 to 60 days to obtain a mortgage. Take a tour of lending institutions to compare financing offers, keeping in mind the following two points:
The interest rate : it will determine the total cost of interest on your home loan;
Ancillary costs: application fees, cost of the borrower insurance , guarantee fees, etc.
You have the possibility to contact a broker : he will help you find the most suitable financing by negotiating on your behalf with the credit institution.
Build your mortgage application
Before granting you an agreement in principle for a mortgage, your bank will ask you to build a file. Here is the list of supporting documents to provide:
Your last 3 payslips (or balance sheets);
An employment contract or any other document attesting to your professional situation;
Your last 2 tax notices;
Your last 3 bank statements;
Proof of identity and domicile;
Proof of the amount of your personal contribution.
Other parts may be required, especially if you take out loans helped with your mortgage application . If you take out a loan with a co-borrower , the co-borrower must provide the same documents.
In order to protect yourself, the bank will also ask you to guarantee the financed property. This can be done through a mortgage , an IPPD (Privilege Listing of Deniers of Deniers) or a bond (via a surety company or mutual guarantee accessible only to certain officials).
Accept your loan offer and sign the definitive act
Your bank sends you a mortgage offer approximately 1 month before the signing of the definitive deed . This offer summarizes the amount of the loan, the interest rate , the repayment period, the monthly payments (insurance included), a depreciation schedule , as well as the general and special conditions. (This applies to a fixed rate credit.)
The loan offer is valid for at least 30 days, and you can only accept it after a fixed period of 10 days. If it suits you and everything is in order, all you have to do is sign it and send it to your bank by registered mail.
That’s it, you have officially contracted a mortgage ! The funds will be released after the signature of the authentic deed of sale at the notary, either in one go (for the purchase of an existing real estate), or in several stages.
The interest rate determines the cost of a home loan , but it is only really relevant when it includes all the ancillary costs involved in granting the funds.
This is known as the overall effective rate (TEG) . It can be fixed, variable or semi-fixed.
The nominal interest rate of a mortgage
Remuneration for the money lent is expressed as a percentage of the amount awarded. To set this nominal rate, the bank uses its own refinancing costs and adds a portion of its fixed costs, the expenses incurred to produce the loan, and possibly a small margin.
In setting the nominal interest rate , it takes into account the borrower’s profile and the risk it presents. A solid record (stable and high incomes, good savings capacity, low debt, large personal contribution, eligibility for homeownership assistance, etc.) makes it possible to obtain very attractive rates.
The duration of the loan is also an essential factor. The faster the refund, the lower the rate. Finally, each company, or even each agency, defines and adjusts its rates during the year according to its commercial policy and its objectives.
To know precisely the cost of your mortgage or to compare several offers on a real estate loan comparator , the nominal rate is not enough. The global percentage rate (APR) or annual percentage rate of charge (APR) is indispensable.
In addition to the nominal interest rate, it includes the rate of the borrower insurance , the handling fees (fixed rate or percentage of the capital borrowed), as well as the expenses of guarantee (surety, mortgage …) For the borrowers having opted for construction or purchase in the future state of completion (Vefa), interim interest and pre-financing costs must be included. More broadly, any charge borne by the borrower for obtaining the credit enters into the calculation of the TEG of the mortgage.
It is capped at the limits of usury in force since January 1, 2017: 3.40% for a fixed rate loan of less than 10 years, 3.35% if the duration is between 10 and 20 years, 3.37% for long loans (over 20 years). For variable rate contracts, regardless of the duration, the threshold of wear is set at 2.83%.
Influence of the rate type on the total cost of mortgage
With a fixed mortgage rate , immutable over the life of the loan, the amount of the maturities is also constant. However, if the clauses of the contract so provide, the monthly payments are potentially flexible (increase or relief). But to lower the rate, only the renegotiation and the repurchase of credit are possible.
A variable or revisable rate fluctuates according to the market. The revision procedures must be included in the contract signed by both parties. These types of loans are generally capped, with an amplitude of variation capped in one direction or the other. Not only is the revisable rate often lower than its fixed equivalent for the same contract, but the borrower escapes prepayment penalties (IRA) if it clears its debt before its term.
Finally, there are semi-fixed rate loans combining fixed and revisable rates. It is fixed and lower than that of a “classic” loan during the first 5, 7 or 10 years and then becomes variable cap. The advantage of the formula is that it allows the borrower to benefit from more competitive conditions than those of the market, then to make a prepayment, avoiding a sudden rise in the rate before the transition to variable maturities. The ideal way to maximize savings with this formula is to negotiate the removal of IRAs from the bank.
One of the doubts that assail some applicants of personal loans through Internet is if this procedure is safe.
In fact, it is a doubt that many users still have when they make an online purchase or when they perform an economic transaction on the Net. But in reality, Internet security has improved greatly in recent years, so much so that today we operate with Bank accounts, making purchases with a credit card or transferring money privately has become something completely everyday.
In this article we review the main aspects related to the security of , which will give you greater confidence and confidence on our website when requesting personal credits. Take note.
What security methods does our personal credit website use?
The security indicator that you must locate immediately, both on our website and any other, is the famous candadito that usually appears next to the address bar, although the location may vary depending on the web browser you use (Google Chrome, Mozilla , Internet Explorer, Safari, etc.). On the other hand, what does not change is the security certificate that this icon transmits.
It is a certificate that indicates that the website uses encryption methods at the time of data transmission, which is normally carried out between the server where the website is hosted and the user’s own device. This data encryption is especially important when the data that is transmitted is sensitive, such as personal passwords or bank details. In any case, on our website we will not ask for a bank password, just the account number, for information purposes and so that the lender can enter the money requested in said account.
The encryption method we use at is the most advanced at present: SSL encryption ( Secure Sockets Layer ), a protocol that encrypts the data both in the sending and in the reception of the same.
In our case, the company in charge of certifying said encryption is Comodo , which audits our website on time to verify that all the security and encryption mechanisms work correctly to grant personal credits. Comodo is one of the most prestigious companies internationally and also has a great experience in detecting viruses and malware hosted on websites.
Other indicators of confidence in our web of personal credits
Although SSL encryption has to do with Comodo, on the website of you will find other aspects that will transmit confidence, related to the Copyright and the privacy policy and cookies.
Regarding Copyright , the prestigious company DCMA has granted us the corresponding certificate of authenticity of our content. This means that, although we use advanced software for the operation of our website, the content and management of our web portal is not carried out by robots or automated machines. Behind there are people working hard to provide you with the most advantageous personal loans, either because of their processing conditions or because of the solvency of the lenders that grant them. You can check the DCMA certificate in the bottom right of each of our pages. Clicking on the icon you will access a website of the DCMA itself where you can check the certificate.
Cookies are another important issue related to security, although many users have a misconception of them: they are not, in any case, files with viruses, malware or spyware that steal information. They are only files that improve the functioning of the websites that use them (in fact, practically all the websites of today use them), because they allow to remember data as personal preferences and make possible the integration of the pages with social networks, through the Like, Share and similar buttons. In any case, if you want to expand information through cookies, you can go to the page dedicated to these files .
Of course, the information we collect through our online form is treated in accordance with current law, something that you can also consult on our Privacy Policy page .
And finally, there is no better indicator of safety than the opinions and ratings of other users. And there are many customers who have already processed their personal loans with and with the other portals of our group in other countries, such as Spain, Poland or Mexico. According to our users, 98.99% give us an approved and declare loyal customers, willing to process new transactions with us. This means that there are more than 317,000 online loans granted and more than 298,000 users who have processed some type of financing on our website.