When buying a mortgage loan what are the notary fees?

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
  • Disbursements

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 …).

Tips to know the money to use to pay the mortgage

mortgage

Buying a house is an illusion, but it is also a responsibility for whoever does it. Therefore, when getting into a mortgage to buy a home, especially if it is the first time it is done, it is advisable to follow a series of tips and steps to avoid that the debt is unaffordable and, in the long term, the house can be lost.

Tips to avoid getting ruined by your mortgage

  • Make a list of income and expenses: You do not have to be an economist to make a list of the usual income;and expenses of the family. In the short term, the salaries of the adult members, the possible ordinary income of another type (actions, rents, etc.) must be included. And also the expenses on food, energy for the home, clothing, children’s school and other loans (for the car, the furniture, the various repairs).
  • Limit the mortgage to 30% of the income: Once checked the usual income, it is not advisable to pay a mortgage that has a cost higher than 30% of these. Since the housing crisis, banks are very cautious when signing a mortgage that exceeds 50% of the ordinary income (wages) of applicants. Limiting it to 30% is an extra advantage that prevents against unforeseen events such as salary decreases, layoffs or general economic crises to come. In short, it is about fulfilling a capacity of indebtedness that can be assumed by the family, which makes it possible to overcome any danger along the way.
  • Limit mortgaged money: Another tip is to limit the amount to apply for mortgage coverage. Until a few years ago, it was usual to include in the mortgage loan extraordinary amounts with which to pay the first furniture and the entrance. Today, financial institutions are also cautious and in rare cases exceed 80% of the total cost of housing. Anyway, we must remember that the more money is requested, the more you have to pay back, the more fees, and the higher the amount of interest on the total amount returned.
  • About fees and total time: Although paying a high monthly amount in the short term can be a stigma that is difficult to accept, in the long term it is undoubtedly a wise choice. Paying low installments extends the time it will take to return the mortgage. And the working age is what it is, as of certain years the productivity and the performance in the work diminish and, with this, the salaries and the economic capacity. Obtaining a mortgage that is paid before age 50 allows you to have an old age without debts.
  • Monitor the price of housing: Finally, the last advice is not so much mortgage, but in general control of housing. The prices are difficult to lower much more, for months they have found their soil and in the future, it is possible that they rise. In this way, housing, in the medium term, could be revalued.

Online Mortgages: find the best Mortgage

The Mortgage Loan is defined as the payment of the installments is guaranteed by a mortgage on a property, usually required to buy a house. Discover all the advantages of online mortgages directly from your PC, smartphone or tablet.

What is a Mortgage?

A mortgage is a contract with which the bank (lender) delivers to the customer (borrower) a certain amount of money. The customer agrees to return the same amount of money paid plus the interest agreed in a given period that generally varies from 5 to 30 years, in particular cases even 40. The most common type of mortgage is the real estate mortgage, granted to buy or building a property or renovating the house itself. The Mortgage can be a major financial commitment, to be evaluated with great care with your trusted advisor. The customer repays it in installments of a constant or variable amount, usually monthly or half-yearly. Let’s find out immediately the differences in mortgages at constant rates and variable rate mortgages.

What are fixed-rate mortgages?

In the fixed rate mortgage, interest is established at the time the contract is signed and remains constant throughout the duration of the loan. These rates are calculated every day by the European Banking Federation, and the spread, or the “top-up” that each bank decides to add to the base rate as its own revenue. The fixed rate even if at first glance may seem higher than the variable rate, on the other hand, ensures greater security precisely because it is not subject to market fluctuations. This type of mortgage is, therefore, suitable for those who have constant; income and want to plan in advance the amount to be paid to the bank, without having nasty “surprises”.

What are variable rate mortgages?

In contrast to fixed-rate mortgages, floating rate mortgages change according to the performance of the financial market. This form of Loan is based on the Euribor reference index (Euro Interbank Offered Rate) or the rate established by the Central Bank of Europe (ECB). Specifically, if the latter rises, even the mortgage payment increases, if, on the other hand, the cost also decreases. In this case, the initial rate is respectively lower than the fixed one, but, precisely because it is variable, it can increase according to the market trend. This type of mortgage is suitable for people who can bear a significant increase in the monthly payment or who have expectations of increases in income in the future.

Are there other forms of financing in addition to mortgages?

Of course, in addition to mortgages, banks and financial companies offer numerous products, here are the following:

  • Personal Loan
  • Employee loans
  • Delegation of Payment
  • Leasing financing
  • Advance TFR / TFS

Apply for a mortgage online

Anyone can apply for a mortgage. For example, even young people who need money for the purchase of the first house, as long as they are adults and able to show that;they can return the sum due on time. The maximum age is usually established according to the type of products offered. Nowadays it is even easier to request it, banks and financial loans are granted online, so you can receive your quote and start the practice directly from your home PC.

How much can I apply for online mortgages?

In general, the intermediary grants an amount that does not exceed 80% of the value of the property, a value established on the basis of an expert’s report. For example, if the property of a customer has a value of € 200,000.00, the customer can request up to € 160,000.00 (or 80% of the value of the property). Sometimes intermediaries grant mortgages equal to 100% of the value of the house, obviously, an additional guarantee is required, such as a surety of a third party or a mortgage on another property.

What installment can I afford?

Before applying for a mortgage, you should carefully evaluate your income, even in perspective, and your monthly availability net of fixed costs. It is good that the installment does not exceed one-third of disposable income, in order to cope with current expenses, unforeseen expenses and possible income reductions (illness, accident, dismissal). Requesting a Mortgage is an important choice, we always recommend to find a trusted consultant and submit the request to your assessment.