The purchase of mortgage Portia
When you redeem Portia, the lending agency will ask you for guarantees to secure and justify your loan. Guarantees of a repurchase of Portia can take two forms, either by guarantee or by mortgage. Guarantees are necessary to reassure the lending institutions and anticipate the risks of non-repayment. In this sense, the purchase of mortgage Portia is a safe bet. This is as its name suggests a mortgage repurchase mortgage .
The bond of a mortgage loan repurchase
Normally, a bond requires the participation of an outside person to act as guarantor, in case the borrower finds himself in a situation of unpaid. This means that the person in question will repay the due instead of the borrower. The guarantor is thus voluntarily committed and must be registered as such in the contract for the purchase of Portias. A deposit can be provided by an agency in return for a remuneration automatically deductible on the loan. However, this must not exceed 3% and must not be accompanied by any other guarantee whatsoever.
However, do not forget that in the context of a mortgage repurchase , you already make a huge guarantee of the value of your property. This is a huge personal contribution that can give you advantages in negotiations.
The purchase of Portia with mortgage
In default of guarantee, the repurchase of Portia can also be guaranteed by a mortgage. The repurchase of mortgage Portia , which is nothing more than a repurchase of mortgage-backed Portia, most often refers to real estate put into mortgages, sureties, that is to say, principal residences or secondary properties with value in the real estate market.
The real estate will then serve as collateral, recorded in the contract, subject to the risk of unpaid. That said, to have a fair estimate of your real estate, instead use a notary or a real estate agent. The estimate of a mortgage in the context of a repurchase of mortgage Portia will thus be appropriate to the amount of Portia to be repurchased. The mortgage will also be subject to regulatory rates for land registration.
To summarize, if you have a mortgage, it is more profitable to buy a mortgage loan than a buyback Portia bail . However, a Portia surrender by surety is sometimes more reassuring. Banks do not like anyone to vouch for you. A property is better than nothing, for sure, but it is not worth the trust of another person.
To guide you in your steps and find the best mortgage repurchase rates, we can put you in touch with professionals who will advise you and set quotes for free. For this, all you need to do is simulate mortgage repurchase on our website at the top of the page. This is a free, no obligation simulation that is as simple and effective.
What is the interest of a mortgage guarantee for a Portia buy-back?
For large loans, the conventional mortgage provides an additional guarantee to the lender who, in the event of default by the borrower, and usually to the very end, after having implemented the amicable debt recovery route forced execution (seizure of wages, bank account and / or movable), can sell the house pawned without the need for a judgment having authority res judicata beforehand.
For loans without mortgage granted to owners, in the same situation the lender is then forced to seize the court to obtain a judgment allowing him then to take a legal mortgage to achieve the same result. It’s a longer procedure simply.
The mortgage makes it possible to obtain more interesting rates. A recent mortgage reform has significantly lowered the cost.
Today, there is the “secured bond buyback” that brings the same benefits as a classic home equity buyout but without a mortgage.