It is a credit consolidation with a mortgage guarantee on your main residence (in general). The repurchase of mortgage credit is addressed only to the owners (or accessing the property in certain cases). When the total amount of your outstanding loans and consumer loans to be redeemed is large, the bank will require a guarantee for this loan repurchase.
Fine Bank, broker in repurchase of credit, is specialized in mortgage loan.
There are two types of mortgage loan redemptions
We determine the share of home loan in the totality of the request for credit, if this share is higher than 60% then, it is about a grouping of mortgage.
If this share is less than 60% then it is a grouping of consumer credit.
It is mandatory to make this distinction since the Lagarde Law. The advantage for consumers is that the rates applied in mortgage consolidation are capped by the historically very low loan wear rates.
The advantages of buying back mortgage credit
The repurchase of credit with a high amount is possible because the maximum duration is 35 years. This considerably reduces the future monthly payment.
The repurchase of credit with a maximum amount cannot exceed 90% of the value of your house. The restructuring of credits is thus facilitated, thanks to the long durations, the high amounts and the low rates applied.
Owners of FICP files will be able to combine their consumer credits, under certain conditions.
The different stages of buying credit with mortgage guarantee
You must first list all of your personal loans and credits, income and expenses. We will also need to know the estimate of your house. We see together the maximum monthly payment you want, insurance included, the additional cash to add to your loan request. We are adding the regulated notary fees for setting up a mortgage loan. New Loan then does a credit simulation. We choose with you the best formula, the most advantageous for you.
To reduce your high debt or plan for a retirement or obtain cash for your new project, buying back credit with a mortgage allows you to regain financial balance and predict the future with confidence.