Loan relay

Ready relay

The intermediate credit makes it possible to make coincide sale and purchase and makes it possible to manage the duration of the resale which can last longer than envisaged.

Types

Two types of intermediate credit exist:

* the intermediate credit " sec" , agreed for one or two years and * the intermediate credit, twinned with a loan long run, more advantageous.

The duration of the loan varies from 1 to 2 years. Its amount represents between 60 and 80% of the value of the good, the bank then requiring of you an estimate either of an agency or of a notary to evaluate the quality and the value of the good.

TWO OPTIONS OF REFUNDING

1) the borrower refunds only the interests, awaiting the sale to refund the capital of one blow. This formula is most advantageous on the level of the overall costs but is sometimes heavy to support, the borrower also having to face the loads of refunding of its loan in progress.

2) the borrower refunds interests and capital only at the time of the resale of the good. It is about one differed total until the sale from the good. No loads to be refunded monthly, but with final heavier invoice.

THE SEC INTERMEDIATE CREDIT

The banks are not very favorable there and certain like the Building and loan association, national Abbey, Woolwich or Caixa Bank do not propose it any more, considering it too expensive. The more so as by adding the expenses of file and a catch of mortgage, the cost of the loan becomes prohibitory.

Insofar as that is possible, except for very a short duration, better is worth to avoid it.

THE CREDIT TWINS HAS A LONG RUN

In the majority of the cases, the borrower resells a good to buy another the larger, often expensive and requiring a loan. The banks thus had the idea to set up only one loan, covering the totality of the amount of new acquisition and sometimes even the expenses of notary. The borrower has 12 then to 24 months to sell his good. When the sale is carried out, the sum will be charged to new acquisition in the form of advance payment of part of the credit, without penalty. The formula revêt several advantages: an interest rate lower than that of a loan dry relay since it is about a traditional real loan: around 4,00-4,5% in fixed rate, 2,80-3,00% in fluctuating rate. The majority of the banks will not engage of expenses of file being satisfied with those perceived for the opening of the long-term credit.

And in the event of catch of guarantee, there still only one catch of mortgage will be necessary. Certain banks agree even for very good files not to take of mortgage. This can belong to one of your requirements to limit the costs.

1% AND PRÊT-RELAIS

The employees of the subjugated companies to the 1% housing can profit from a loan-relay atespecially gravitational rate (1% over one year, renewable once) in the event of sale for professional mobility or job loss related to a social plan. In addition, this loan covers 70% of the monetary value of housing to be sold within the limit of 106.000 € in Paris region, and 64.000 to 82500 € in the other areas.

See too

Ready real estate

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