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If you get a mortgage this year, read this
“Who can borrow today in France? “The opinion of Jerome Robin, President and founder of VousFinancer.com.
The positioning of banks in 2012 is clear: meet the new criteria imposed by the Basel III device which aims to enhance the liquidity of capital a bank.
Thus the banking partners are substantially changing their credit policy and customer positioning. In principle everyone can borrow but in practice when is it? We really are seeing a tightening of conditions for the grant?
Today we can say that the vast majority of banks want the same customers because they have the same constraints.
So we see two core target customers: the first-time buyers, usually a young profile of 30 years, who purchases for the first time his principal residence and with which partners accept bank to opt for grant agreements with little personal contribution. For banks it is above all easy to fit a customer (card, savings products), retain and whose resources and needs are likely to evolve.
The second target will be a customer called “heritage” that is to say, which already owns a property and we will assist in the diversification of its assets through savings, an investment in tax exemption …
Banking partners have also returned to some fundamental including the concept of cash. Today we’ll look at what proportion of savings that will be used to purchase the property, but also measure what may be the new ability to save after the financing of the property, so that the client can rebuild savings.
Some specialized institutions, however, stand out at the beginning of the year 2012 by maintaining positions allowing the company to provide financing without personal contribution and long repayment periods up to 40 years to meet individual needs.
Bank of Montreal offers advice to home buyers who are ready to take the plunge
Usually, spring is the busiest season of the year on the housing market in Canada. The thaw is only a few weeks, BMO Bank of Montreal offers some strategies for first time home buyers to help them find their ideal home while respecting their priorities financially.
Buying a home can be the most important financial decision in life, then it is important to understand all the factors that must be taken into account to make a responsible decision to buy.
“The first step is to determine the amount you are able to spend to buy a property, which means it must make an honest assessment of the balance sheets of the household,” said Laura Parsons, expert Mortgage, Bank of Montreal. “Once you have a clear idea of your financial situation, you are able to make a responsible decision about what you are able to pay, including your down payment, the monthly cost of your mortgage and other expenses, such as utility bills and property taxes. “
BMO offers the following tips for Canadians looking to buy property.
Assess your ability to pay
Mrs. Parsons explained that there are two basic rules that first time home buyers must apply to determine what they are able to offer.
“Firstly, the total expenses of housing, including mortgage payments, utility bills and property taxes, should not exceed one third of total household income.
In addition, the service of your total debt, including loans, payments on credit cards and those on lines of credit, should not exceed 40 percent of your income. If you are able to meet these parameters, then the purchase of a property can be an affordable option and realistic for you. “
Amass a down payment
Depending on the amount of down payment, a mortgage is considered “ordinary” (in the case of a down payment of 20 percent or more) or “high LTV” (in the case of a down payment of less than 20 percent).
If you are able to pay a larger down payment, this will help you pay interest charges less important throughout the life of your mortgage.
If you have difficulty in raising a down payment from your savings, there are different options, such as a withdrawal, the tax-free, worth up to $ 25 000 your RRSP to add it to your down payment.
Your spouse or partner can do the same, for a combined total of $ 50 000. You have until 60 days after the second year of withdrawal to begin repayment, and you will have no tax payable if you repay all within 15 years.
Investment vehicles in the short term, such as free savings account (TFSA), can also help you grow your savings faster by placing the funds in tax-free.
Choose the mortgage that fits your situation
Your mortgage must be in harmony with the rest of your priorities financially – which can mean greater flexibility and greater security. Consider the following factors when choosing your mortgage:
Choose a shorter amortization period – The longer your mortgage will be short, and the costs will be less. By opting for an amortization period of 25 years rather than 30 years, you’ll save on interest costs, and you free yourself of your mortgage faster.
Fixed rate or variable rate – The floating rate loans have proven to be a winning strategy in the long run, but the fixed-rate mortgages (currently at historically low levels) can predict with certainty the costs, and promote peace of mind.
You can test your amortization – Perform a stress on your budget, calculating payments that reflect higher interest rates, the total expenditure of housing (mortgage payments, property taxes, costs heating, etc..) should not exceed one third of total household income.
Apply for a mortgage pre-approval
A mortgage pre-approved defined as the amount you can reasonably afford to pay for your first home. Some of the benefits of a loan pre-approved:
It is free of exchange rate – The fixed rate that is offered is automatically granted, and is guaranteed for 90 days, which gives you peace of mind if ever rates were to increase while you search of a property.
Moreover, you also benefit from the situation if rates come down to, because you automatically get the lowest rate that is offered during the warranty period of 90 days.
It gives you a good idea of the state of your finances – You have a better idea of the amount of loan you are eligible, so you do not waste time visiting homes that you do not afford.
The term and amortization period of your loan, and an estimate of your monthly payments are determined at the time of approval of your application, so that you can use these figures when planning your budget.
It allows you to act quickly – If your mortgage application is pre-approved, you will be able to bid quickly when you finally find the home of your dreams.
Agencies are concerned about the regulations on mortgages
The measures taken by European governments to relieve the heavily indebted households could have an impact on RMBS.
The measures taken by European countries to relieve indebted households are not always bode well for the securitization sector. Rating agencies have warned against including the possible implications for the market of securities backed by residential mortgages (RMBS) in Ireland and Italy.
In a report, Fitch highlights the possible negative consequences of the Italian law last July that allows vulnerable households to change the rate of their loan from variable to fixed and extend maturity of five years. On the one hand, this law is positive because it helps households to repay their loans when interest rates rise. The other, it could be negative for certain interest rate swaps underlying the securitization.
Mortgages: who can borrow in France today?
Tribune Jerome Robin, President and founder of VousFinancer.com: The positioning of banks in 2012 is clear: meet the new criteria imposed by the Basel III device which aims to enhance the liquidity of capital a bank.
Thus the banking partners are substantially changing their credit policy and customer positioning. In principle everyone can borrow but in practice when is it? We really are seeing a tightening of conditions for the grant?
Today we can say that the vast majority of banks want the same customers because they have the same constraints. So we see two core target customers: the first-time buyers, usually a young profile of 30, who acquires for the first time his principal residence and with which partners accept bank to opt for grant agreements with little personal contribution. For banks it is above all easy to fit a customer (card, savings products), retain and whose resources and needs are likely to evolve.
The second target will be a customer called “heritage” that is to say, which already owns a property and we will assist in the diversification of its assets through savings, an investment in tax exemption …
Banking partners have also returned to some fundamental including the concept of cash. Today we’ll look at what proportion of savings that will be used to purchase the property, but also measure what may be the new ability to save after the financing of the property, so that the client can rebuild savings.
Some specialized institutions, however, stand out at the beginning of the year 2012 by maintaining positions allowing the company to provide financing without personal contribution and long repayment periods up to 40 years to meet individual needs.
The Federal Council passes the message on the estate of the DDPS
At its meeting of 22 February 2012, the Federal Council passed the message on the estate of VBS 2012. This message is for five appropriations for a total of 407,825,000 francs.
Stress is placed on investments in training infrastructure of the army, with some 160 million francs, as well as engagement in infrastructure, with about 90 million francs.
The remaining funds will be used to cover different needs within the DDPS. Construction projects will have positive effects on employment in all language regions of Switzerland.
Five new commitment appropriations, amounting to 407,825,000 francs, to be supplied with the message on the estate of VBS 2012. All projects are subject to military procedure for approving building plans which guarantees, in the context of the public inquiry, taking into account the interests of space and the environment as well as those the cantons and communes.
Planned investments in the message on the estate in 2012 mainly affected the infrastructure to education, with about 160 million francs, and commitment of the infrastructure of the army, with approximately 90 million francs. An amount of 52,250,000 francs is specifically requested for the first stage of the Total Sanitation parade of Bure. 35.9 million francs are for the renovation of a cable serving a military radar site, as well as 18.4 million francs for the realization of a new section of the transmission network broadband.
The credit facility requested, to 286,775,000 francs, will be used to realize different projects to a maximum of CHF 10 million per project, for all tenants of the DDPS. These are projects like the renovation of a structure of command, the cleanup of a water supply installation, and implementation of security measures. Moreover, some of the credit framework of about 120 million francs will be used to carry out maintenance work on hold for existing infrastructure, such as sanitation of several multipurpose halls.
Construction projects whose implementation is proposed with the message of real estate DDPS 2012 concern all language regions of Switzerland. This work will provide jobs to about 1,130 people for two years.
All projects whose realization is requested with this message on real estate DDPS reflect the direction set in the Report on Security Policy in 2010 and the Report on the army in 2010. They are aligned with the ongoing planning of the new parking concept of the army.
How to find the best rate for a credit?
If you are in a difficult financial situation, consolidating your loans is an attractive solution. How then find a credit line at the best rates for a takeover of consumer credit or mortgage? How to check credit repayment calculation presented online?
First, do not rush on the first house debt consolidation loan you would have found.
Also to avoid, for example, you purchased a credit from the savings bank to apply directly to that institution a credit redemption cash savings because you do not have insurance to find the best rates.
The right method that we recommend is to achieve an online simulation with the tool set up by the company Créditprox on its website. This company is independent organizations, banks and houses practicing debt consolidation loan.
This independence ensures an effective competitive process to obtain a credit line at the best refinancing rates.
Indeed, by simply filling out the form completely and posted on its site, you will very quickly linking a free no obligation with one or more brokers debt consolidation experts in its network members.
These dealers have been carefully selected for their professionalism, expertise, the reputation of their results and customer satisfaction that we want you to do some soon. Knowledge of the credit market by the broker gives an efficiency that you can have yourself directly.
Reject preconceived notions about this profession and make your own opinion and experience to judge and evaluate the veracity of their reputation.
The dealer near you that will recommend you bring a real Créditprox confidential follow in the consolidation of your simulation made from the form.
With him you can validate your assumptions, your information and guidance to obtain a new credit line based on your actual financial situation and your repayment capacity.
So you can reduce your monthly payments in return for a loan period extended according to your free
choice.
This is really free for you. At any time, you will be free to deepen the offers obtained from these simulations accompanied by advice of the broker network and you can Créditprox without haste and without obligation to choose the most appropriate solution to your expectations.
Do not stay in a difficult financial situation. Pursue this approach and witness its relevance and effectiveness.
The list of mortgage rates in Nantes
Nantes is a city in France where the mortgage rates are lowest. But the real estate purchasing power is strong…
“Banks are seeking to conquer new market share by offering very attractive terms,” says Michael Gravoueille, agency director of Nantes Meilleurtaux.com credit broker. Thus, with a rate of 3.84% over 20 years, The Venice of the West continues to top the charts, just ahead of Toulouse and, for the second consecutive month.Dethroned by the sleeping beauty, Toulouse retains the second place, with rates of 3.90% over 20 years, against 3.75% in December. Lyon, which completes the podium, the best records rise since won six seats from the previous rankings. Borrowers can obtain rates of 3.95% for loans over 20 years, against 4.15% in January. Rates remained stable in Paris, Nice and Bordeaux just above the 4% threshold. These cities are respectively the 4th, 5th and 9th place. Strasbourg and Montpellier each lose three rows with rates at 4.05% and 4.10%, well ahead of Marseille, red lantern with a high rate of 4.30%.
No systematic effect on the purchasing power
Meilleurtaux finds that the rate increase recorded in the three cities has affected the purchasing power of real estate borrowers, in spite of the decline in housing prices also recorded.
However, in Nice, Bordeaux and Lyon where rates have fallen or remained stable, the price declines led to a gain in surface area of 0.3 m² constant monthly average. In contrast, in Paris, where he could buy an area of 20.8 square meters in January with a monthly contribution of 1,000 euros, only a maximum area of 19.3 square meters is now available, a difference of 1.5 m².
It’s easy to find a personalized service for the mortgages
IMERIS is a mortgage brokerage firm serving demanding customers who are looking for a personalized service for their loans and mortgages.
Because it is necessary to compare to make the right choices when it embarks on a major project, IMERIS offers a brokerage service mortgages.
Mortgage brokers looking to IMERIS and continuously analyze the different offers on the market to find the best rates and best solutions to their customers. Open or closed, fixed or adjustable rate, the mortgage business is large and complex. The experts of IMERIS respond to queries from their clients, advise and offer solutions tailored to their constraints, particularly in terms of budget.
Indeed, thanks to their expertise, brokers IMERIS, who know the market and the players in this particular area, may negotiate simultaneously with several financial institutions to find the best rates and benefits that an individual could only get. With a large volume of transactions with lenders, brokers IMERIS are well placed to obtain financial benefits very interesting.
The brokers IMERIS are recruited for their great skill and expertise in finance, including mortgage. Their seriousness and deep industry expertise ensures customers the assurance of finding the best deals according to the constraints and objectives of each project.
One of the strengths of IMERIS, besides the skill and expertise of its brokers, it is the opportunity for each customer to have a fully customized monitoring throughout the project. Since the establishment of the customer profile to complete the project, the personal adviser is the only interlocutor of his client, it remains permanently at his disposal to find the ideal financing solution.
But the services of IMERIS do not stop to get a loan since the agency also offers a management service mortgages and mortgage calculation to support customers throughout the loan term.
Based in Montreal, IMERIS is part of a network of renowned brokers in numerous locations across Canada. The agency website provides a few clicks to access information and get a first contact with a counselor.
Montpellier: The real estate crisis?
Between rising prices, the banks that no longer grant credit and Montpellier population that is growing, real estate is not doing its best forme.nts
Fears estate received in 2011 were confirmed in 2012 with sales down but prices are stagnant (if not they increase …). It is noted that Bruno Cassin, President of the Federation of Real Estate, reports minutes.fr 20.
One of the primary reasons to consider banks that grant comes less easily to real estate loans, which confirms that young people increasingly struggling to acquire property.
Indeed, credit conditions are becoming more picky, rising interest rates, and banks lend less. In against part, “the owners overvalue their property”, causing a situation more difficult.
This rent increase should be corrected in the coming months (hopefully!) And decrease of approximately 10% of real estate agents Apers.
A partial solution because it is still insufficient overcrowding of people in Montpellier: in all, each month the city would see 500 new residents occur.
Unfortunately, the number of housing is so far insufficient. Most people wish to settle near the tram in order to move more easily, or near the city center because of the increase in fuel.
Yet there is housing in neighborhoods “popular” remaining effects: indeed, people do not want to settle in those places that are widely affordable prices (500 euros for a T4 at the Mosson).
Ultimately, the housing question remains unanswered for the city of Montpellier.
Consumers who are difficult to repay their loans, should they be grouped?
You pay every month several monthly credit (car loan, revolving credit linked to store cards, mortgages …). To reduce your repayment burden, you can consolidate all your loans into one.
Then you pay one monthly payment. If it is lower than the total of previous deadlines, no miracle is the price of longer duration and more costly credit.
Advertisements for bids consolidation or redemption of credits is extensive. Ask preferably known financial institutions. And remember to contact your banker. It may also propose a solution of debt consolidation.
Repeat your credit agreements, amortization schedules of your loans and bank statements of your revolving credit. Estimate the total amount you owe (principal + interest + insurance). Remember to take into account any prepayment penalties, if a mortgage is the subject of debt consolidation. The new loan will cover the whole of the amount due.
If the consolidation loan includes only consumer loans (car loan, revolving credit …), the new loan is a consumer credit (cancellation period of 14 days …).
When refinancing, also provides a home loan, and that it represents over 60% of the total amount of the business combination, the new credit is considered a mortgage for the full amount of the redemption ready (cooling off period of 10 days …)
The current monthly payment relief is obtained by lengthening the term of the loan.
However, the longer the repayment is longer and more expensive credit. The total cost of your debt is therefore likely to increase.
Check the rates of loan offer loan consolidation. The APR (annual percentage rate for consumer credit) or APR (annual percentage rate for a mortgage) incorporates all mandatory costs for obtaining the loan: the loan rate, fees, insurance disability … ).
Make sure there is a fixed rate. Sign a variable rate loan exposes you to increased rates and monthly payments in repayment. What lead you to new challenges.
Finally, in repayment of the loan consolidation, avoid contracting new loans.
The lending institution made you sign a clause forbidding you to take out other loans without their consent. And you may worsen your financial situation.
If it is or becomes extremely difficult, it is best to file an indebtedness to the Bank of France of his department.