General conditions of eligibility for the repurchase
Your company ‘s first redemption task is to tell you if you are eligible to redeem through the redemption.
To be eligible for a company or a bank, you must
- reside in France, whether you are a landlord, homeowner, tenant, housed by your employer or housed by your family
- to be solvent (to be able to answer for his debts)
- to benefit from regular and sustainable incomes (civil servants, private employees, retirees, liberal professions) for certain consumer purchase formulas
- behave fiscally responsible (subjective criteria vary by bank)
- in general, dedicating 45 to 50% of one’s monthly income to repaying
Debt ratio possible before a loan buyback from a company
To benefit from repurchase of mortgage consumption at certain banks or thanks to a company, your debt ratio can go up to 80% and you can have 2 unpaid real estate or consumption on your last statement of account and a delay of taxes.
Bank of registration taken into account during a redemption
If you are registered you can obtain a real estate loan buyback, but not a buyback of consumption.
Standards of the rest to live
One of the banks’ criteria for granting you surrender is the amount of your living balance, calculated by deducting monthly payments from all your outstanding. With his remnant to live, the borrower must pay his current expenses: food, rent, transport, insurance, miscellaneous bills … If you want to get a buyback, the higher your debt ratio, the more your living needs to live being.
Amounts you get for a redemption
The maximum amount you can borrow and the amount of the interest rate when it is fixed are based on:
- your debt ratio before buying back
- the amount of the repurchase of compared to the value of the property given as guarantee
- your repayment capacity after the purchase of (in the case of a guarantee)
If you, the main borrower, are owner or tenant in the province or the Île de France and your debt ratio is between 60 and 80%, your remainder to live must reach 850 euros. For a debt ratio of less than 60%, your remainder can go down to 550 euros. If you are lodged for free or by a third party, always in the province or in Île de France, your remainder to live must be 1150 euros for a debt ratio of 60 to 80% and 850 euros for a lower rate of indebtedness at 60%.
If you have a debt ratio below 60%, the bank can finance up to 90% of the value of the mortgaged property for a first mortgage, and up to 80% for a second mortgage. If your debt ratio is between 60 and 80%, the bank can finance you up to 80%.