Can be found different kinds of loan repurchase agreement on the French market of financial restructuring. It is true to say that there is, for example, the consolidation of consumer credit, and also to highlight the existence of credit pooled with guarantee!
Mortgage buyback: how does it work?
This is a financing bringing several loans and receivables to be restructured to make only one credit!
Can be grouped in said loan consumer debt and a mortgage, or more! Can be allocated to the sum of money lent to the borrower (s) a provision corresponding to a cash envelope to pay for new projects or other!
The peculiarity of this banking product is that the refinancing is backed by a mortgage registration for the amount financed. The bank is responsible for obtaining the right repayment of the capital granted to the debtor (s), and this having the maximum certainty to better control the risk of insolvency of (s) client (s) ( s) by having the hand on a pledge securing;the proper payment of the debt in its entirety.
Of course, it is not in the interest of the lending institution to take legal action against its clients. Effectively,
Notary: the costs related to the mortgage!
The fact of soliciting the intervention of a notarial study to finalize the operation of the repurchase of mortgage credit then is required from the notary realizer of the expenses related to the mortgage.
The service consists of taking the responsibility of writing in a due form the entire act enabling the client (s) to proceed with the signature of the file.
It should be known that the tariff of the notary fees is fixed according to the decree of March 8th, nineteen seventy-eight, changed on several occasion;(3X), until the last one on the date of the decree to the seventeenth of February two thousand and eleven.
To understand better, the fees are composed as follows :
- Notary’s fees
- The taxes
Thus, it is strong to note that the public officer does not receive the full amount representing his bill. Part of it comes back to him and the rest is poured in part to the various stakeholders (the mortgage state issued by the conservative mortgages of the region, etc …).