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Swiss banks loan without Credit Bureau

Credit Bureau entry is the only way to get a loan from a bank. Many banks from Austria and Switzerland are represented on the Internet. Banks are required to check their creditworthiness.

Who can the loan be granted to without Credit Bureau?

Who can the loan be granted to without Credit Bureau?

A Swiss loan? Why and especially from whom is this loan needed? Are these legitimate loans? As a credit broker, we always receive many inquiries on this topic. Swiss loans are very special loans that are not granted without prior credit information and are taken out from this private fund.

the reason for this is that private investors, banks and credit institutions residing outside of Germany do not refer to the diverse information provided by Credit Bureau. Recommendation for the Swiss company Fine Bank. There are no doubtful down payments with this bank! The quick inquiry without Credit Bureau The leading banks play a leading role play in the financial market.

These installment loans are often granted much more quickly and unbureaucratically than conventional loans. The authorization is not data on the use of equity from the Swiss loan is necessary. But don’t be happy about it early: these Swiss credits will not be granted without a deposit. An available income above the garnishment limit is just as necessary as an open-ended employment contract with a client.

The self-employed are not operated.

The self-employed are not operated.

Who can the loan be given without Credit Bureau? All people between the ages of 18 and around 70 years are eligible to apply, but this can also vary depending on the service provider and intermediary. “Older loan seekers must have additional security features. To get good feedback on your loan request.

Note: People without their own salary, such as B. Housewives, interns or the self-employed without available securities are not permitted for such a credit. Deviations are not unusual and are explained in detail in the crediting conditions. Once a loan agreement has been concluded, the total amount will be transferred to the borrower’s account or, if desired, paid in cash to the borrower by letter.

A Swiss loan is repaid in constant monthly installments over the entire contractual period. Borrowers should compare different offers and, above all, make sure that they are dealing with a reputable provider and not a credit fraudster or scam. In these reports, almost all of the companies addressed were those that exclusively gave Internet loans to everyone.

The only thing that mattered to these banks was to collect a commission () for the brokering activities (usually cash on delivery). Companies can be identified as trustworthy under long-term activity on the capital market.

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Loan without Credit Bureau demand

Consumers are entered in the Credit Bureau if, for example, they conclude a loan agreement, go into bankruptcy or do not make payments. Then when a loan is needed, it will be difficult to get a loan from the bank. German banks always work with Credit Bureau because they use it to check whether the applicant also meets his payment obligations.

If there are too many entries, loan contracts are not awarded. So many opt for a loan without Credit Bureau demand. This cannot be applied for in Germany, because banks never forego Credit Bureau demand.

Where and how can I apply for a loan?

Where and how can I apply for a loan?

In order to apply for a loan without Credit Bureau demand, the applicant must look for a loan broker on the Internet. This works with banks in Switzerland and Belgium that do not require Credit Bureau information. The credit intermediary receives all the necessary data from the applicant, who then sits down with the banks. The banks check the documents and then issue different loan offers.

The credit broker will then filter out a suitable offer with the applicant, who will then sign a loan agreement. The borrower does not have to go abroad to get a loan, but can do it online. As soon as an offer has been signed, the offer is binding.

What conditions does the bank expect?

What conditions does the bank expect?

In order to be able to apply for a loan without Credit Bureau demand, conditions must be met so that the request is positive. The applicant must be of legal age and be able to prove his place of residence in Germany. In addition, he has to prove a fixed income, preferably with the pay slips. This income must be attachable and may not be from a self-employed activity.

Self-employed people have a different salary each month, so it is not certain whether the loan can be repaid in time. The loan can either be transferred to the account or sent by post by check. The advantage of this loan is that neither the Credit Bureau is checked, nor that the loan is entered in the Credit Bureau. This keeps it clean and can be helpful for later loan applications in Germany.

Conclusion

Conclusion

If you have a good credit rating, you can easily apply for a loan abroad without Credit Bureau demand. The application is made on the computer with the help of a credit intermediary. This requires a fee that only has to be paid after the contract is signed. The loans are not recorded in the Credit Bureau, so that later loan applications in Germany are not a problem.

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Mortgage loan: aiming far and saving every day

No one wants to rent a house forever. Inflation, the unexpected and all other untimely blockages prevent people from investing in real estate. Building a new house in the face of derisory income remains utopian. The best solution is to take out an affordable mortgage without losing as much daily income. A mortgage means a loan taken from a credit agency intended to finance the construction or purchase of a house.

The mode of operation is quite simple, because everything is based on finance. The calculation of the loan is done on a declining basis, depending on the monthly payment fixed between the borrower and the mortgage company. The particular loan is activated exactly after the establishment of a loan file. This administrative decision is only made in the presence of the stakeholders. This file mainly includes a certain irrevocable clause. The contents will determine the date on which the borrower will obtain the mortgage. Then, the latter will gradually repay the entire loan based on his monthly salary. Home loans in France are generally spread over the long term. It can take anywhere from five to twenty-five years of repayment, including variable interest rates that fluctuate over time.

Real estate insurance for a secure mortgage

Real estate insurance for a secure mortgage

However, mortgage loans are part of risky investments. The borrower will never be safe from any changeover or change in professional situation. In addition, the client’s financial situation may suddenly deteriorate following long-term hospitalization or after losing a job. If the repayment is delayed, the credit agency will risk seizing or mortgaging the house. The only precaution is to take out real estate insurance. To compensate for this risk, most credit companies require real estate insurance. But revolving credit also brings with it surprises and endless additional costs, especially in the real estate sector. Therefore, the borrower will have to prove his credit worthiness to deal with all situations.

Online mortgage: free loan simulations

Online mortgage: free loan simulations

If you are having trouble finding a credit reporting agency willing to work with you, check out online mortgage websites. Several addresses can help you further. Do not hesitate to complete credit simulations at any time. This will assess in advance the amount of your loan and your ability to repay the money every month. Know that a particular loan constitutes a significant investment which commits you at least over five years. Take enough time to make comparative credits. And choose the credit agency that perfectly suits your expectations.

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Instant loan with little income

Low earners are often faced with the question of whether an instant loan with little income can also be obtained. In theory, it should be because it is logical that someone with little income cannot save as much as someone who earns well. But the practice is different. Most banks only grant the applicant’s low-income instant loan to borrowers who can provide additional collateral. It is important that the income is attachable and the creditworthiness is otherwise in order. An instant loan with little income becomes difficult or sometimes impossible if loan seekers have bad credit or if the bank already has loans that were not paid properly.

No attachable income can be proven because applicants are unemployed or receive other social benefits that are not part of the attachable income, such as parental allowance or sick pay, it is only possible to obtain an immediate loan with a very good guarantee.

Anyone who earns well gets the instant credit

Anyone who earns well gets the instant credit

Today, it is common to realize consumer wishes with the help of loans. Creditworthy consumers find it easy to borrow anywhere. It will always be problematic when it comes to an instant loan with little income. As soon as customers do not fit into the prescribed grid, they fall out of the processing system so that manual post-processing has to be carried out. This is no longer an instant loan anyway, because nothing happens immediately. Installment loans are now standardized banking products. Therefore instant loans can be offered. Processing takes place automatically at the banks and the system approves inquiries for creditworthy customers. The instant loan will be processed within a few minutes.

Make a budget invoice yourself beforehand

Make a budget invoice yourself beforehand

If you have a low income and would like to apply for a loan, you can calculate for yourself whether the income is sufficient for a loan. The monthly expenses have to be deducted from the monthly income. The bottom line is the so-called freely disposable income. It has to be so high that the installment can be paid for. The basis for calculating the freely disposable income is the net income from dependent employment or a pension. Other income, which includes maintenance, child benefit, parental allowance or other wage replacement benefits, must not be added. Banks do not count this income because it cannot be attached.

Instant loan with little income only with a guarantee

Instant loan with little income only with a guarantee

If loan seekers have drawn up their own household accounts and as a result find that it is tight or not enough, they should first think about how they can additionally secure the instant loan. It is usually enough for the banks, when it comes to an instant loan with little income, that the loan applicant includes a suitable guarantor as additional security in the contract.

What a guarantor should know

What a guarantor should know

The guarantee declarations are usually signed without the guarantors being aware of what they are signing. Typically, instant consumer credit is a joint and several guarantee. On the part of the banks, this guarantee is treated as a contingent obligation. For the guarantor, this means that he voluntarily limits his creditworthiness for the duration of the guarantee because the rate is counted in his budget. For example, if a guarantor only accepts the guarantee because the borrower is in the probationary period, an attempt should be made to set the time limit until the loan applicant has successfully passed the probationary period and can prove his permanent position to the bank. The trial period does not last longer than six months, so it is not necessary to provide a guarantee for more than 60 months or longer. If a guarantor wants to be released from the guarantee during the term of the loan for which he guarantees, most banks only agree if the guarantor swaps.

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What loan banks can offer

 

The personal loan from Across Lender

The personal loan from Across Lender

The personal loan allows you to finance the purchase of a consumer good or service. You can thus carry out any type of personal project, according to your needs. You have free access to the amount borrowed, because you do not need proof for this type of loan. Thanks to the fixed rate, you know the exact amount and the number of monthly payments that you will have to repay.

Works loans

Works loans

The works loan is dedicated to all your development needs or your desires to change the decoration. It concerns your primary residence, your secondary residence, as well as rental accommodation. Beyond the comfort and aesthetic aspect, an investment in insulation or in a more economical heating system allows you to make big savings on your energy bills. In addition, it gives more value to your accommodation in the event of resale or to revaluate its rent if you offer it for rental.

The grouping of credits from Across Lender

The grouping of credits from Across Lender

Credit consolidation allows you to combine loans of different kinds (car loan, home loan, personal loan, etc.) into one loan over a longer period, while reducing your monthly payments.

Reducing your monthly payment allows you to balance your budget and makes managing your accounts easier. You can keep your current banking establishment. You have the option of including in your credit consolidation operation the financing of new projects if you need to carry out work or buy a new vehicle for example.

Opening credit

Opening credit

The opening of credit is a reserve of money which allows you to better manage your budget according to your needs, as well as finance your cash. You have a payment card which allows you to pay for your purchases in Belgium and worldwide, as well as online. Your money reserve is also available from ATMs. The amount available ranges from $ 900 to $ 5,000 and you have the option of paying back monthly, at your own pace.

Vehicle loan

Vehicle loan

The vehicle credit is dedicated to the purchase of a car, motorcycle, or any other means of travel, new or used, with or without a deposit. You can benefit from a loan amount greater than that of the personal loan without proof. In addition, you can choose the repayment terms.

Specific loans

Specific loans

Across Lender also offers loans for specific events, such as your wedding or your vacation. Fixed rates avoid unpleasant surprises and you determine in advance according to your needs, the amount to borrow, the repayment period and the monthly payments.

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Credit Bureau-free instant loan with instant approval

Credit Bureau repeatedly causes problems when taking out a loan. Especially when negative entries have accumulated, it is very difficult to find a lucrative and fair loan. But even without negative entries, Credit Bureau can cause difficulties in borrowing. Because, for example, anyone who already owns some loans and installment payments is not very popular with banks and savings banks. Not even if they are always paid on time.

A Credit Bureau-free instant loan with instant approval as a solution

A Credit Bureau-free instant loan with instant approval as a solution

For this reason, many consumers see a Credit Bureau-free instant loan with immediate approval as a solution to their problems. He does not need to ask Credit Bureau, so you don’t have to worry about whether your Credit Bureau is good enough to borrow. It also saves you the embarrassing moment when one of the bank employees whispers that, under these conditions, no cooperation will come about.

This would only be possible if a guarantor with a good Credit Bureau could be included in the loan. But not everyone wants or can name a guarantor. So then rather a Credit Bureau-free instant loan with instant approval, which does not make such problems and obstacles a topic of conversation in the first place.

The search for the right offer

The search for the right offer

Unfortunately, a Credit Bureau-free instant loan with an instant confirmation cannot be taken out at the house bank around the corner. Rather, it does not exist at any of the traditional banks in our country. Therefore, you either have to go abroad to search for the loan, or you choose a personal loan. The decision should be made based on the amount of credit that is needed and the personal prerequisites you need to borrow.

The foreign loan

The foreign loan

Applying for the loan abroad is certainly particularly easy and simple. Switzerland and Fine Bank from the Principality of Liechtenstein in particular have good loan offers for a Credit Bureau-free instant loan with immediate approval. However, these offers only work if there is a fixed income of an acceptable amount. You also have to deal with the fact that only a small loan up to a maximum of 5,000 dollars can be implemented.

In addition, the loan must be taken out over the Internet. At most you live quite close to the border and the trip abroad would be worthwhile. Then the loan can of course also be taken out directly from a bank abroad.

The personal loan

The personal loan

If you borrow the money from private donors rather than in the direct private environment, a credit broker usually has to be involved. In many cases, this can be found on site, so that the Internet does not have to be used. However, it may be the case that the credit broker requests an advance payment for his efforts, which must also be paid if no credit agreement is concluded. In addition, you can only have little influence on the individual offers, since you cannot search for them yourself and therefore have to take what the mediator offers.

Before concluding the contract, you should carefully consider which path to take.

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Mortgage loan – Lowest rate – What is it?

The mortgage loan allows you to borrow money from the bank for a real estate project. It can be buying a home, a house to renovate, a building plot …

Find all the useful information on mortgage credit below:

Find all the useful information on mortgage credit below:

Mortgage: Real, immovable and indivisible law, which encumbered immovable property to guarantee payment of a debt.

What is a mortgage?

The bank needs a guarantee to ensure that you will actually repay it and to do so requires you to mortgage your property.

The mortgage is therefore the guarantee that you are required to pledge in the context of a mortgage loan. If you are no longer able to repay your current loan, the lender is entitled to seize your property to recover the money it has loaned to you.

When you take out a loan, you have to repay the monthly installments. Your bank – or any other financial body that lends you this money – does not want to take any risks. To grant you this loan, the bank takes into account your income, all combined. However, if one of your sources of income dries up (you lose your job for example, you divorce …) and you are no longer able to assume the payment of your deadlines, your house, land, apartment, etc. ., constitutes the guarantee which allows the organization to recoup its costs. He can put it up for sale to recover his money, penalties included.

What is the mortgaged property?

Typically, the mortgaged property is the property for which the loan is made. However, you can definitely suggest to your lending organization that you mortgage another property. You must of course own it and its value covers that of the loan.

It is not necessarily real estate, it can be a boat, a collector car or any other high value property.

Where is the mortgage kept?

Where is the mortgage kept?

The mortgage is officially recorded in the register of the mortgage conservation office. This organization, managed by the Belgian State, keeps a record of your mortgage, mentioning the value it represents.

Why choose mortgage credit?

The purchase of real estate is substantial and commits you for many years. If you want to acquire a property in a fairly tense area where prices are constantly increasing, the mortgage is a good compromise to avoid having to wait too long and see house prices continue to rise.

How does the mortgage actually work?

The signature of a mortgage is made at the notary and goes through a signed deed. Before you buy the property, your lender pays the amount of the purchase to your notary. Once the sales contract has been signed, the notary pays the purchase to the former owner.

Be careful to provide the funds necessary to settle the notary fees and fees, as they are most often to be paid out of your own funds.

If your project is a building construction, your lender pays you the necessary money, as and when the invoices from suppliers and service providers are presented.

Who can take out a mortgage?

To take out a mortgage, you must be at least 18 years old. Before submitting your request, take stock of your income and estimate the amount of the monthly payment that you will have to repay.

Add up your wages, property income, annuities, or any other income and set them against your fixed expenses: rent, water, electricity, telephony, etc., as well as any outstanding credits. The monthly payment that you will have to pay should not exceed one third of your monthly income. In addition, your borrowing capacity is reduced if you already have other loans outstanding.

In all cases, your lender will perform this calculation. It will ask you to justify your income and will also linger on your savings account. Beyond the amount you can have in one or more savings accounts, a lender considers your way of life. He will be reassured if you have savings and, on the contrary, will be more suspicious if you have never put a penny aside.

What are the fees related to a mortgage loan (fees payable to the notary)?

What are the fees related to a mortgage loan (fees payable to the notary)?

The costs associated with a mortgage are not trivial. Everything goes through a notary, the signing of the loan as of the purchase. The latter invoices you for his own fees, but also occupies the role of collector for the State, because he collects the taxes that will be transferred to him.

You must therefore provision the sums necessary to pay these costs.

Research and administrative formalities

Before signing your mortgage, the notary must carry out certain research and administrative formalities. These are urban research and requests for certificates.

It is important that you discuss this with the notary before, because if some are imposed and compulsory, others are optional, this is the reason why the amount of these fees fluctuates from one notary to another.

It is often mentioned an average of around $ 1,000 which is subject to VAT, but this is only an estimate to give you an order of magnitude.

Mortgage fees

Mortgage fees are calculated according to your particular case. Allow 0.3% of the value of the mortgage loan requested and the accessories (estimated at 10% of the loan).

Storage costs

The conservation rights represent remuneration for the mortgage registrar who ensures that no other mortgage is taken on the property. They amount to $ 250 for a credit below $ 272,727 and $ 950, above this amount.

The cost of the annexes

The rights attached to the mortgage deed amount to $ 100.

The cost of registration

Registration fees represent 1% of the value of the mortgage credit and accessories, estimated at 10% of the credit.

The writing costs

Writing rights were previously called stamp rights. They amount to $ 50 HT, or $ 60.50, with 21% VAT.

Notarial fees

The notarial fee, subject to VAT, is fixed on a basis established by law. Then, a different scale is applied depending on whether it is a loan or a credit facility that allows you to borrow an amount already repaid. The higher the amount, the lower the percentage.

As this expense depends on the amount of your mortgage, its amount will be the same for all notaries.

What are the upfront costs?

What are the upfront costs?

Application fee

The administration fees are invoiced by the lender. They are legally capped at $ 500 and, for a bridge loan without mortgage, at $ 300.

The cost of expertise

The lender must verify that the value of your property will be sufficient, if it were to be sold by forced sale due to non-payment. He therefore has your property appraised by his own experts and invoices you for these appraisal costs.

What is outstanding balance insurance?

Balance outstanding insurance is useful if you borrow from more than one. In the event that one of you dies before the mortgage ends, the surviving partners – as well as the heirs – are protected and do not have to reimburse the part owed by the deceased.

This insurance allows you to obtain more attractive interest rates.

Do I need a personal contribution to take out a mortgage?

With a mortgage, personal contribution is not compulsory, but it is much more difficult without putting part of your savings at stake. Personal contribution can come from any source: savings, sale of property, inheritance … It allows you to finance part of your real estate project.

Generally, financial organizations ask you for a minimum contribution of 10% of the total amount of your loan. In reality, 30% is the most common proportion. The higher your personal contribution, the easier it is for you to take out a mortgage.

A personal contribution will facilitate negotiations with the bank

On the other hand, if your personal contribution is substantial, you find yourself in a position of strength to negotiate the interest rates with the lender, as well as their general conditions.

However, if you have savings, it is advisable not to use everything for your personal contribution, but to keep some of it. There can always be unforeseen events in life and your savings allow you to cope with the hard knocks and give you time to recover.

What are the elements on which the lender is based to fix the loan amount?

What are the elements on which the lender is based to fix the loan amount?

The bank first calculates your savings capacity, before considering the property for which you are introducing this loan.

It is based on four elements, before giving you its agreement:

  1. the appraisal of the property by an expert, whether it is a purchase for use in the state, a renovation or a construction project;
  2. your personal contribution: savings, inheritance, sale of another property (not necessarily real estate), etc. ;
  3. the guarantees and sureties that you can provide;
  4. your ability to repay.

How long is a mortgage?

As with any loan, the length of the mortgage depends on several elements, however, your repayment capacity sets a limit on your monthly payment. You should also take into account your age and your family situation.

The lender does not just look at the numbers when you borrow, but projects into the future. A mortgage can run for ten, twenty or more years. It is therefore necessary to take account of events which are foreseeable.

You may have less repayment capacity if you retire because your income is falling; if you have children, you have to plan when they are going to do studies that will strain your budget…

On the contrary, you will have contributions that will facilitate your repayments if you have a debt that will be extinguished soon; if you risk touching an inheritance; if your professional situation changes if you take over a family business…

The longer the loan term, the more you can borrow because the repayments are spread over time and the amounts are lower. In return, the total amount to be reimbursed will be higher, because it includes interest.

Is it possible to revise the conditions of the fixed rate mortgage?

If you took out a loan at a time when rates were high and then dropped considerably, it is not possible to revise the rate which is fixed by definition. On the other hand, it is possible to close your initial credit, in order to take out a new mortgage loan which will relate to the balance which remains due.

It is not always interesting to do so and your lender can also dissuade you from doing so. Each case is specific and proportional calculations have to be made. In fact, if you have already reimbursed the majority of the interest which is concentrated at the start of the loan, you only have capital to repay. In this case, the drop in interest rates would no longer affect your monthly payment by resetting your credit, especially since you must take into account the administration fees and other costs related to the transaction.

What is a capital amortization mortgage?

What is a capital amortization mortgage?

The mortgage with principal amortization is the most frequently used. It consists of amortizing the borrowed sums, that is to say repaying part of the capital each month, but also the interest on the sum.

As the interests are important, they are proportionally more important than the sum allocated to the capital at the beginning of the loan. Over time, interest decreases in favor of capital.

You can also request that your monthly payments decrease over time. In this case, you will always reimburse the same amount corresponding to the capital. As the interest decreases progressively, your monthly payment decreases mechanically.

What is a capital reconstruction mortgage

Another solution that works with a monthly amount, called “premium”, which allows you to repay the entire amount borrowed, at the end of the contract. It comes from a professional activity, with a pension capital, set up by your employer, or from life insurance.

For the duration of the loan, you pay the interest on the amount borrowed which is added to the premium.

The life insurance contract can be type 21 or type 23.

Branch 21

Life insurance of the “branch 21” type is better known by the term “savings insurance”. It is accompanied by a guaranteed return which can possibly be supplemented by a profit sharing, which is not guaranteed, but depends on the results of the insurer.

Since the reimbursement of premiums is guaranteed from the start, by paying regularly, you can be sure that your borrowed sum will be fully reimbursed at the end of the contract and that your lending organization will recover the entire amount.

Branch 23

Life insurance of the “branch 23” type is coupled with an investment fund composed of assets. Its return is not guaranteed, but depends on the performance of one or more investment funds. Taking into account this fluctuation, the value of the fund varies and in this case you cannot be guaranteed that the entire capital borrowed will be reimbursed at the end of the contract.

What is the purpose of the bridge loan?

You can take out a bridge loan which is a short term home loan. It acts as a bridge between the sale of one property and the acquisition of another. For a limited time, you need liquidity to make the junction, or the bridge.

The bridge loan cannot last for more than three years. His interest rate is fixed. So, your lender makes a certain amount of money available to you. It is used to acquire your property, while waiting for the other to be sold.

Fixed rate credit or variable rate credit, how to choose?

Fixed rate credit or variable rate credit, how to choose?

You can borrow at fixed or variable rates and it is important that you understand the issues, because the risks and consequences are not the same.

Fixed rate credit

When you take out a fixed rate loan, you risk no surprise, good or bad, you sign for a specific interest that will not move, throughout the duration of the loan. This is undeniable security.

With fixed rate credit, you are guaranteed a stable monthly payment. The appropriateness of choosing this type of loan depends on the current situation. If you are borrowing at a time when rates are low, you are not afraid of the increases that may occur. On the other hand, if, when you take out the loan, the rates are high, if they come down, your monthly payment will not go down.

Variable rate mortgage credit

The variable rate can, as its name suggests, vary, up or down.

If you choose a variable rate credit, there are then many subtleties that will influence the evolution of your rate. The formulas which allow the lender to change their rates are predetermined.

The changes can be linear. For example, a 1/1/1 formula means that your rate is revised every year; the 3/3/3 formula implies a change every three years, and so on.

Changes can be fluctuating. For example, the 10/5/5 or 20/5/5 formula, or the 25/5 formula, with only one change.

At each maturity, your rate being reviewed, your monthly payment may fluctuate up or down. The different formulas are not all offered by all organizations.

What is the rate capped in a variable rate mortgage

What is the rate capped in a variable rate mortgage

The rate capped

With variable rate credit, you can be protected by the capped rate, also called secure rate. The base rate of capped credit is often a little higher than conventional variable rate credit, but you have the guarantee of better rate stability.

A range is determined at the time of signing the loan, so that you benefit from a framework that protects you if rates soar, thanks to the high range. The low range is a guarantee for the bank, in case the market collapses.

The cap is attached to the variable rate loan when the loan is signed. Banks generally offer rates capped at 1, 2 or 3 points.

Advantages and disadvantages of variable rate loan

It is obvious that the variable rate is more risky than the fixed rate loan. Nevertheless, you can choose a capped variable rate loan, to limit your risks.

You have to look at the environment when you take out the loan, but you can never accurately predict where the market will be in 5, 10 or 15 years.

Variable rate loans offer lower interest rates than fixed rates at the start of the contract. If the rates are high when you sign, it is in your best interest to choose this option. If the market goes down, you will be profitable, because your monthly payments will also go down.

Unfortunately, if interest rates soar, your monthly payment will increase.

Can you close your current mortgage loan to buy a new property?

Can you close your current mortgage loan to buy a new property?

Whatever the reason, you can decide to resell your property during a mortgage. You then have two options: transfer your credit to your new home, or liquidate your old credit, and then open a new one.

Transfer of your mortgage credit

If you have another property in sight, you can transfer your mortgage to your new home and the solution can be quite attractive.

Indeed, in this case:

  • the cost of transferring your mortgage is lower than the cost of writing off;
  • you avoid the costs of opening a new mortgage loan;
  • your credit continues, there will be no indemnity to pay to the lender;
  • the conditions of your old credit remain current;
  • you maintain your tax benefits.

However, you must pay the costs of the file and expertise.

Liquidate your mortgage loan to take out a new one

It is sometimes in your interest to liquidate your loan before taking out a new one. This is the case if the economic situation has changed and the proposed rates have become much more attractive.

Do not forget to include the costs of the file and the expertise.

Can we liquidate a mortgage before its term?

Can we liquidate a mortgage before its term?

It is possible to liquidate your mortgage before its term, provided that you have the necessary sums that will allow you to free yourself from your lender.

On the one hand, you must repay the balance of your mortgage loan and, on the other hand, an amount which corresponds to the re-employment allowance. It is a lump sum compensation which allows your lender to cover part of the interest he will no longer receive on your credit.

Are there mortgage rules?

Banks are subject to the rules of the FSMA. It is the authority of Financial Services and Markets.