To benefit from a bank loan, it is essential to be able to justify its solvency. Before even validating your loan request, the banking establishment will ask itself several questions: that of your contribution, your level of resources, but also that of your available income each month.
And to ensure that you can repay your monthly payments, the bank will require a guarantee, namely a mortgage or a bond. For the latter case, beyond the immediate entourage, it is possible to call on a specialized company.
What is the role of the surety company?
A surety company undertakes, when an acquirer makes a loan, to reimburse the monthly payments if the borrower is no longer able to pay. Thereafter, to recover the sums paid to the lending organization, the surety company returns to its debtor.
Depending on the circumstances, in such a situation, several outcomes are possible: the surety company can set up an amicable solution, in order to grant additional payment terms to the defaulting borrower. In more complex cases, a seizure of the property can be considered.
What are the advantages of a deposit?
The deposit involves an additional cost for the purchaser. Indeed, to benefit from it, the latter must pay a surety commission – representing a percentage of the sum borrowed or a lump sum, as the case may be. In addition, he pays a contribution to the mutual fund, requested in the recovery process.
If the surety increases the envelope of the real estate investment, it also includes certain advantages. For example, at the end of the loan, part of the payment made to the mutual fund is paid to the borrower. On average, for a deposit taken out with Good Finance, 70 to 75% of the amount spent is reimbursed to the buyer.
Then, we note that the deposit is not a notarial act, which implies total transparency of the costs, based solely on the commission and the contribution to the mutual fund. Conversely, the purchaser having preferred the mortgage as collateral will have to pay fees not defined in advance …
Finally, the deposit is not linked to the property for which a loan request has been granted.
Can the cost of the deposit be reduced?
People working in the field of Education, Research and Culture can benefit from the Good Credit guarantee, which is particularly advantageous: it has a very low cost (even non-existent), while being simple to implement. We can solicit it for projects of all kinds: purchase in the old or in the new, for a principal, secondary residence or rental investment and even for the realization of works.
For buyers wishing to embark on a secure project, it is also possible to approach Good Finance: all partner banks can offer this guarantee to borrowers. For each client, Good Finance mobilizes a team of experts gathered around the study of the file . In the event of difficulties in repaying the monthly payments, the organization takes over from the borrower and takes the necessary steps to resolve the situation: 1 default on 2 resumes a normal cycle after the intervention of Good Finance.
Increasingly sought, the deposit appears as a guarantee gradually replacing the mortgage . In the event of resale, this solution makes it possible to avoid paying the mortgage release costs and, moreover, this initiative makes it possible to protect oneself from a possible foreclosure, since the guarantee organizations favor the search for other solutions before dispossessing the purchaser of his property.