Loan from Equity of homeLoans from the equity of the own home
Assistance with the purchase of equity loans
Given so many different patterns, it can seem quite bewildering to find the right one for you. Let our specialists take you on a free, non-binding tour of the various government-sponsored systems. Help to purchase an equity loan is available to both first-time purchasers and those who already own a real estate.
When you have a 5% or higher investment (of course you can make a larger deposit) and want to buy a new home, you can use the Help to Buy Equity Loan program. Once you have qualified for a 75% mortgages, the other 20% will be financed by the state.
- This is a step-by-step guide that will help you through the H2B part.
Equity-release on your real estate in France
An equity releasing is a concept often used to describe the liberation of equity from a piece of land. Up to 50% of the present value of your home in France can be released in France in the form of money for other purposes, with a credit of at least 300,000 Euro. Kindly notice that we cannot provide an equity exemption for Leasback-Immobilien.
The equity relase in France is not the same as in the UK. France's products allow you to free up money from your own possessions, which you then repay with your money back every month. In France it is not possible for non-residents to have a mortgages without making money back each month until your decease or the selling of your home, as in the UK.
In the event that a real estate loan is due to be repaid in France, it must be refinanced at the same moment as the equity capital is released so that the new lending company in France has a right to compensation against your real estate. Total credit you can borrow is 50% of the actual value for refinancing and joint disbursement.
In order to be eligible for a France Equity Release Hypothec, you must have an annuity of at least EUR 100 000 and a net asset value of at least EUR 500 000. It is important for a real buest broker to make a prudent assessment of the value of your realty in France before making an application. And there are transactions that need to be planned when you consider whether your actual real value is high enough for the proposed venture to make sence.
- Notary' and lawyer's expenses - in most cases, a notary public in France will have to transfer the fee recorded on the name of your real estate from the old to the new banking institution, the amount of which is usually around 1.5% of the new loan amount. - Banking and brokerage charges - this depends on your particular scheme and the selected financial institution, you are planning 1.5% of the new loan amount for appraisal purpose.
A full hypothecation request will be required by the francophone creditor. Your finances must be qualified for the mortgages in relation to your indebtedness, your net worth and your available earnings per month. So why equity and not just a private loan? There is a monetary value in releasing equity on your real estate instead of taking out a private loan, as the interest rates on a franc mortgages will be much lower than those on an uncovered private loan.