LOANS
Acquisition of credit: the solution to beat the trap of over-indebtedness?
House, car, work, electrical … Too many credits on the back? Your monthly weigh increasingly heavy and your ends meet can be difficult … unless it can renegotiate the distribution of your debts, you only more than a solution: the acquisition of credit.
In France, a third of households have resorted to one or more credits: consumer credit, mortgage, reserve money, and so on. Ease of access to the “revolving” in particular, is a major cause of a situation of indebtedness. Offered by financial institutions just looking directly into the chain stores, these credits and reservations are made at interest rates very high (up to 20%). For out of the cycle that the purchase of credit was established.
Practice …
Called restructuring of credit “by the experts, the acquisition of credit used to replace several existing loans with a single to a lower interest rate and adjusting the repayment period up to the income. The goal: reduce the amount of monthly payments to reduce the budget.
For whom?
This procedure is for all individuals with income. It helps to better manage its debt and to clarify the financial situation that is not clear when a contracted several loans at rates, terms and maturities different.
So a way to restore some momentum to households rolled by the debt overhang. A particularly valuable to face the unexpected or emergencies (divorce, birth or death, unemployment, accident …) and overcome financial difficulties.
You’ll deal with several creditors but one. The monthly payments are fixed and subjected to a single rate.
What is choice?
There are different types of credit redemptions. It should be studied with the help of a professional to determine which best fits your situation, how much and in what period of repayment.
The takeover of mortgage credit includes all credit courses in a single mortgage, the rate and duration of a mortgage. The repayment period can take up to 30 years.
The acquisition of credit allows the owner to clean up your finances following the purchase of a home loan too large. It is trading with securities repurchase credit prices can vary by a factor of two!
Finally, with the acquisition of particular credit, the procedure is similar to that of a single credit. The bank or the bank considers three parameters: the guaranteed, risk and profit margin reached. Shorter maturities are preferable to minimize the interest. As with any credit, the opportunity to offer a guarantee (without mortgage) increases the chances of obtaining a credit redemption particular.
… But ultimately, it can be expensive!
Simply contact your bank or credit agency to be an application and review of documents is free. However, you will have to settle charges in the case of obtaining the loan. The amount of these costs represent 1% to 5% of the total amount of credit.
The consumer association CLCV (Consommation, Logement et Cadre de Vie) advises to make a comparison of various financial products that the bank or credit agency has to offer: “Do not just focusing on the amount of monthly payments but consider the total cost of the operation. » insiste un porte-parole. “Said a spokesperson.
Even if it is a good spot to escape to a filing with the Bank of France, beware: the monthly decline, but the duration of the commitment, it is growing. Apparent ease, handle with care.
Calculate the budget for your mortgage:
What are your recipes?
Before seeking a loan you need to know how much you may have to pay the repayments. You will at first make a list of recipes:
- Make a list of your regular income (wages, investment income, pension) without taking into account the hypothetical income as bonuses, overtime pay
- Do not include family benefits that are not eternal.
The expenses to be deducted from your income.
Once you count your income will now deduct your expenses in progress and future spending related to the purchase of your home:
- Subtract all your debts and loans on which you are already involved (car, household appliances)
- List the expenses related to the purchase of your property (transfer taxes, notary fees, any mortgage, taxes if you buy a house)
- Remember to account for expenditures related to change of address (moving, new home insurance, work, subscribe to different networks)
- Do not forget the costs of the status of the owner (the housing tax is added as the payment of taxes which represents a heavy load)
- Do not forget the cost of maintenance or repair your home or if it is an apartment, condominium charges represented by quarterly fund-raising … By comparing costs and revenues, you can establish a budget investment and a cash budget.
Reduce your debt ratio
Taking all these parameters, calculate how much you can spend each month to repay your loan. What bankers call the effort. The ideal is not to exceed 25 to 30% of your resources to be sure to honor your monthly payment. Do not make too many projections on the progress of your purchasing power, given difficult to control, and especially, do not yield to some bankers who are willing to pay sometimes beyond the capacity of repayment. Vous pourriez avoir des fins de mois difficiles ! You may have some difficult months for!
A long-term:
Difficult to escape the credit to finance a property purchase. No panic, banks concoct loans “made to measure, tailored to your profile. On 12, 15 or 20 years, the interest on the loan account for a significant sum in addition to the amount loaned. Hence the importance of getting a good rate and review the best “casing” of your various loans (principal and supplementary).
A rate depending on your financial situation:
To get the best rates, the golden rule is to have a “pro-economically correct” and to show you that most ant grasshopper. Thus, some savings in a savings plan or a book or a few securities reassure your banker. However, a fact discovered chronic bad impression. The status of your bank account depends on the rate you consent your bank: for example, to a rate in a between 4.6% and O 5.95%, the highest range is attributed to the borrower the most “risky”, the average range to that a little savings and the best rate to that which has a comfortable contribution. Nothing prevents you from doing the rounds of the banks to bring them into competition. In this case, not compare the rates displayed by institutions, but the percentage rate (TEG), which includes, in addition to interest on the loan, filing fees, the amount of life insurance-disability.