A repurchase of credit can be a great way to smooth your financial situation. Do you have several consumer credits? With this approach, you could combine them into a single loan to simplify monthly payments. In addition, it is also a good tip to minimize the risk of over-indebtedness. And it is possible for the mortgage.

 

The conditions to know for a mortgage purchase

The conditions to know for a mortgage purchase

For starters, like mortgage credit, the purchase of mortgage credit is only for homeowners. In this type of contract, the value of the property will serve as a guarantee of monthly payments. This approach is only possible for long-term credit agreements. It should remain in the 360 ​​monthly installments to be recovered to claim and a total capital to be refunded of several million Belgian francs. And of course, as for the subscription of a first mortgage credit, you will need a notary to see the pledge of the property.

 

Some fees to take into account

Some fees to take into account

Unlike traditional loan redemptions, the one for the mortgage loan incurs some additional costs. These can affect the cost of the procedure. You better know them. This is the case, for example, of re-employment or early repayment. There is also the charge of raising the mortgage that will release the property from the creditor’s property. Depending on the case, the latter can be negotiated between 500 and 700 dollars.

Mortgage repurchase means that you will sell the credit property to another institution. This amounts to subscribing to another mortgage loan. If you opt for a physical bank, this approach will involve the payment of fees of about 200 to 300 dollars. Added to this are the expenses for a new estimate of your property and a new mortgage loan insurance. Finally, for a mortgage buyback, you must also pay the registration fee for the new mortgage. The cost of this approach depends on the capital you ask the bank. It will be necessary to take into account all these expenses during the putting in competition of the different offers of repurchase of mortgage proposed by the banks.