Exorbitant bank fees, closing agencies, very expensive home loan .
Your current establishment no longer suits you and you want to see elsewhere.
The law on bank mobility should help you change bank easily. And it should also allow you to better compete.
However, there is still a major obstacle to this mobility: home loans in repayment. Fortunately, tips exist to get around this obstacle.
Banking mobility: what about real estate loans?
It should be noted that real estate loans are not affected by the banking mobility law. In addition, real estate loans are not transferable from one institution to another.
Nevertheless, if you are absolutely determined to leave your bank, some tips exist:
- Open an account in another and keep your home loan in your ex-bank.
- Sold off your current home loan (early repayment) or redeem your credit from a competing establishment. In the second case, it is better to use a real estate broker to save time and benefit from advantageous financing conditions.
Change your bank and keep your mortgage
If your credit redemption request has been “systematically” rejected or you have not managed to negotiate a better mortgage rate with the new bank, it is better to keep your credit.
As a reminder, you have the right to open an account at a bank while holding a loan in another.
Keep in mind, however, that in most cases, the lending bank requires the domiciliation of your income at home for the duration of the credit.
And, in case of non-compliance with this obligation, the contract authorizes the credit institution to pronounce the “lapse of the term” and to demand the immediate repayment of the outstanding capital.
This clause can be challenged before a judge, because it is illegal if it was not accompanied by any personalized consideration for your benefit.
Another solution is to set up a permanent transfer corresponding to the monthly payments between your new account and the old one. In this case, it must provide for bank charges (account maintenance fees, transfer fees …) that can be expensive.
Sold out your current home loan
Know that you are free to pay the outstanding capital of your mortgages at any time, without waiting for the end of the contract.
For this, two options are available to you: either you repay the loan from your pocket (savings, donation …), or you redeem your credit by a competing institution. A credit comparator immo will certainly be useful to find the best offer on the market.
But before you take the plunge, consider checking your loan agreement . Indeed, in the absence of a legal reason, penalties may be charged to you: the famous early redemption fees (IRA).