In the midst of the euphoria for her house project, there is too much tendency to take out a mortgage quickly. And that's how we miss advantageous clauses. The ideal is therefore to go around the competition upstream, before having signed any sales compromise, so as to obtain the best loan conditions.
Modulate your credit
Many banks include a modularity clause in their loan offer. This option allows borrowers to adjust their repayments upward - generally within the limit of 10 to 30% of the term - or downward, within the limit of an extension of the duration of the loan by two years. The objective? Adjust the amount of the reimbursement in the event of a change in his personal or professional situation.
If the conditions depend on each banking establishment, this possibility can generally be requested by mail from a certain period of engagement (from twelve to twenty-four months of reimbursement, depending on the offers). Of course, it's not about changing your mind every month. The new due date must apply for at least one year. Similarly, the change must be at least an amount equivalent to 2% of the monthly payment or 15 euros, depending on the banks. The establishment will then recalculate the amortization table accordingly since the duration and the total cost of the credit will be modified.
A locked negotiation
The modularity option is all the more advantageous since the banks are reluctant to show flexibility with regard to the terms of repayment of mortgage loans. To pay off part of a loan in advance, this thus costs onerous penalties corresponding to the maximum of the value of a semester of interest on the principal repaid at the average rate of the loan and without exceeding 3% of the remaining capital. In addition, certain contracts require that this payment reach at least 10% of the initial amount of the credit.
Another option: renegotiation, a strong trend in recent times given the very low interest rates. For this to be interesting, at least two of the following three conditions must be fulfilled: the difference between the initial rate and the coveted rate must be at least 1%, the capital remaining due must be more than 100,000 euros and the loan must still run for more than ten years. Be careful however: even if the option of renegotiating your loan with your bank is obviously more attractive since it allows you to avoid the administrative fees, it is rare that the latter aligns with market prices.
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