You may be one of those borrowers who dare to negotiate their mortgages. Yet by using 5 tips, you could significantly reduce the cost of your loan.
- Make your profile an asset
- Highlight your savings capacity
- Dare to negotiate
- Think about ancillary costs
- Opt for a short loan
The cost of a home loan is often a very large part of the household budget (up to 1/3 of income). By reducing the cost of your home loan, you will enjoy greater purchasing power for your other expenses. There are simple tips to implement, and accessible to all.
In the granting of real estate loans, banks are always attentive to the quality of your profile. Banking advisers scrutinize your behavior with respect to money. Beyond the level of your income, it is more your savings capacity that interests them.
[House, apartment, loft: wherever you are, find today the property of your dreams …]
To obtain a mortgage at the best cost, it is better to be part of the category of people who save than those who consume up to the last euro of their salary. In the months leading up to your credit application, monitor your expenses and take care of your account statements.
In the same vein, your ability to save on a regular basis will allow you to make a personal contribution. Although it is possible to borrow without contribution, banks are more inclined to negotiate the cost of a home loan when the person they receive has a personal contribution capable of covering part of the transaction (at least 10%).
Do not hesitate to highlight these two aspects to ask your banker to lower the cost of your loan. Show him that by giving you a loan, he will not take any chances.
To limit the cost of a mortgage, you will have to negotiate. As soon as you subscribe to the mortgage, talk to your banker about the credit rate so that it is as low as possible.
The best way to obtain advantageous credit is to contact different banks to put them in competition . Banks view real estate loans as appeal products. They hope to capture new customers and will be ready to make concessions on their rates to seduce you.