Month: April 2019

Early repayment of the loan

By making use of the early repayment of the loan, the debtor can repay, partially or in full, his debt before the contractually established deadline.

The early repayment of the loan

The early repayment of the loan

The debtor can at any time avail himself of the right to early repayment of the loan, paying the residual debt and the interest accrued up to that time.

The loan contract relating to the granting of a personal loan may provide for the presence of a penalty payable by the debtor, equal to a maximum of 1% of the residual debt, if this is greater than 10,000 euros. The percentage drops to 0.5% if less than a year is left until the loan expires.

The penalty due cannot in any case exceed

The amount corresponding to the residual interest due to the creditor. In the case of loans of less than € 10,000, the credit institution cannot request any penalty. No penalties can be applied even in the case of subrogation of the loan.

The early repayment of the loan, even if only partially, allows the debtor to save on the interest due to the bank or the financial company that provided the loan.

In the event of partial repayment of the residual capitalpenalty

The amortization plan must be recalculated, taking as a reference the new debt to be repaid and applying to it the interest rate provided by the parties for the residual duration.

In the event of a request for early repayment

In the event of a request for early repayment

The bank or finance company that provided the loan will provide the client with the extinction statement, that is to say the document indicating the amount of the residual debt and how much the interest and expenses amount to. due for contract closure. The same document contains the terms and instructions for making the payment.

Insurance of an external loan

When you apply for a mortgage loan from Crédit to finance a property, it asks you to take out borrower insurance to ensure the desired credit and protect you and your family, against any risk of default. The then offers you its own loan insurance contract which is collective and standard: the group contract.

But, know that with the law, you can decide the insurer who will guarantee your mortgage and thus find a contract that will make you save on the total cost of your real estate credit subscribed with Crédit South West.

Loan credit southwest

loan credit

Crédit is a bank belonging to the Crédit group, a cooperative and mutual bank. The group consists of federations and about twenty subsidiaries.

One of the 6 credit unions: it is the second in terms of importance

The solution to ensure your loan

The solution to ensure your loan

You wish to benefit from a loan insurance contract being much more interesting for your real estate credit subscribed with Crédit Mutuel du Sud-Ouest?

So, resort to insurance delegation, the specialist in negotiating loan insurance contract delegated.

Law Lagarde

The Lagarde law offers you the possibility to delegate your loan insurance: you can freely subscribe the insurance borrower that suits you best, from the insurance company of your choice, provided you find a contract respecting the equivalence level guarantees with the contract initially proposed.

Hamon Law

In case you have contracted your credit after July 26, 2014, the Hamon law gives you the opportunity to replace your loan insurance during the first year of life of your home loan. As with the Lagarde law, the guarantees must be equivalent to the guarantees of the initial contract.

Credit South West Loan Insurance Comparison

credit loan

To help you with your loan insurance research process, we have designed an online loan insurance comparison tool. Free and non-binding, it allows quick and easy targeting of the most important CMSO loan insurance criteria. You can, therefore, check that the subscription of an offer other than that of the bank is more advantageous for you.

Why call The Broker?

Expert in the field of insurance borrower, the broker is able to seek and negotiate for you the credit insurance contract at the lowest market rate accepted without problem by the bank, because of the respect of the level of guarantee equivalence. You will also benefit from tailor-made guarantees, thus offering you a completely personalized cover.

Save thousands of euros

Save thousands of euros

Thanks to the use of the insurance delegation to guarantee your loan with Crédit you can significantly reduce the cost of your loan insurance and thus save thousands of euros on the overall cost. of your credit!

The Risk Study of a Real Estate Loan

 

Among the various stages of a loan, analyzing your application is certainly the most crucial.

Indeed, the study of the credit file remains the essential point of the process which goes from the first studies of financing until the disbursement of the funds the day of the signature of the authentic deed of sale.

Know that any decision before the final study of your file is like an agreement in principle that is a simple assessment that can give the bank.

Only the complete analysis of your loan application by the Commitments Department allows the lending institution to make a definitive commitment.

Respect the maximum debt ratio

Respect the maximum debt ratio

First point of analysis and perhaps most importantly, the analysis of the debt ratio no longer allows much flexibility today and unless you have a substantial rest to live, the banks will ensure that this debt ratio does not exceed one third of the income.

Present bank statements without incident

Risk analysis is primarily a comprehensive approach, the service to review your application will sift the bank account statements and check if you know how to keep a budget. It goes without saying that if you are a regular creditor, you will score points.

On the other hand, if you present debit current accounts with multiple payment incidents (withdrawals or checks rejected), you are likely to encounter a refusal of financing .

Benefit from a stable professional situation

Benefit from a stable professional situation

Have a good credit record The stability of your employment situation is an essential aspect of risk analysis. You will have a hard time borrowing if you do not have a stable job.

It is therefore essential that you have a fixed-term contract without a trial period if you are employed.

It is also important to know that public servants are more likely to obtain a mortgage than private sector employees because of the guarantee of employment.

If you come from an independent status (trader, craftsman, liberal profession, auto-entrepreneur or company manager).

It goes without saying that your balance sheets will have to present beneficiary accounts.

The personal contribution

The personal contribution

The case of the personal contribution is much more important today in times of financial crisis, the banks of networks in particular take less and less risk. If you are young primo accedant and you do not have input, you will struggle to get the sesame from the network banks.

Indeed, these require more and more that the borrower finances himself the notary fees.

As can be seen, the service responsible for analyzing the credit file seeks to obtain an overall view of the borrower’s situation. Each element studied is part of a set that must provide a positive answer … or negative.