Mortgage loan: this little-known solution for obtaining a loan

If you are the owner of a property and you plan to acquire a mobile home or buy the motorhome of your dreams, the mortgage may be a solution to consider.

Quite unknown in France, the mortgage may well be set to develop. It is a financing solution intended for all property owners who need cash. It may concern as well the purchase of SCPI shares than the donation to a child or the acquisition of a second home.

The principle ? In exchange for a mortgage on real estate, the bank agrees to lend money. This solution is particularly interesting for the elderly who have difficulty accessing credit.

In theory, the mortgage works like a classic credit, there is no specific scale. It is the banking institution that sets the amount, the repayment period (from 60 to 300 months) as well as the amortization schedule according to its own criteria. Like other loans, mortgage credit is subject to rates that differ according to the duration and profile of the borrower.

I reduce my monthly payments

A solution for all types of projects

the mortgage is therefore a solution that can be considered, for example, for buying a second home in Francein order to make a rental investment or to buy a holiday home abroad.

This type of loan is also increasingly used to finance an operation that does not necessarily concern a real estate acquisition. Indeed, there is a growing use of the personal mortgage loan to settle, for example, inheritance costs or to carry out major renovation or development work in housing.

A loan that is expensive and not widely offered

While this type of loan is an ideal alternative for many projects, setting it up can also be very expensive. Indeed, it involves costs that can be very high: set-up costs, notary costs, expert costs, guarantee costs, administrative costs… Also, in the case of a new real estate acquisition, notary fees will have to be added.

It should also be noted that today very few banks offer this type of credit. As a general rule, they are instead offered in establishments specializing in the consolidation of credits for more complex projects such as the purchase of works of art.

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