You have decided to buy and, for this, you are going to need a mortgage, an operation that links you to a financial organization for many years. Who says loan says interest: they are calculated according to the amount you want to borrow and the rate you will negotiate. It seems logical, at first, to contact the bank advisor who takes care of your account: he knows who you are, how you spend your money and can get a clear idea of your borrowing potential. But beware, the (good?) Surprises are great: from one organization to another, you will not be offered the same conditions or the same repayment period.
Get well informed
In general, the more secure and stable your profile appears (on open-ended contracts for more than six months, a personal contribution of more than 10%, etc.), the more you will represent an attractive future client for other banking establishments. Once the credit is signed, it is not uncommon to transfer all of your accounts to the bank that will have offered you the most attractive rate. To be able to negotiate well and compare well, be unbeatable on the different loan formulas: variable, fixed or revisable rates … Finally, to have an overview, do not base yourself on the gross rate but on the annual rate total workforce ( TEG), which includes the interest rate and related costs.
To be negotiated: Application fees
They represent between 0.4 and 1% of the total amount of the loan and cover the costs of creating your file and its follow-up. As they are freely instituted by the bank, do not hesitate to review its percentage.
An unexpected cash inflow, a boost or the resale of a property? If it is entirely possible for you to anticipate your reimbursement, pay attention to the amount of the fees for this service. It often equates to 3% of the capital remaining due and can easily be negotiated until completely free with your bank advisor.
Death insurance is compulsory and often quite expensive. However, if you are young and in good health, they can possibly be replaced by outsourced insurance, which will allow you to negotiate them separately, and therefore to save money.