The renegotiation of a real estate loan must be well anticipated, the rate being the first lever to analyze. “Today, we can expect rates around 3.5% over 25 years», explains Florian Dussoulier. To be relevant, the renegotiation must be based on a sufficient gap : “It’s necessary aim for at least one point of differencebecause the costs linked to renegotiation, guarantee, mortgage, administrative fees, can quickly neutralize the financial advantage.» Timing is everything. “On an amortizable loan, these are the first ten years which concentrate the majority of interests», recalls the expert.
A renegotiation that is not just about the rate
Many borrowers focus only on the posted rate. Wrongly. “Borrower’s insurance is often very expensive and constitutes a major lever», insists Florian Dussoulier. A delegation can sometimes divide the cost by two or even three over the duration of the loan.
The regulations also make it possible not to be limited to the insurance offered by the lending bank. The Hamon law authorizes the change ofborrower insurance from another establishment, provided that equivalent guarantees are obtained. But it is still necessary respect the right timing. “It is better to negotiate the credit first, then review the insurance later.», Warns the expert. The renegotiation must therefore anticipate as soon as the loan is set up, in order to maintain room for maneuver afterwards.
Another lever not to be neglected: the duration of credit. Extending the loan can provide more budgetary flexibility. “Sometimes a 25-year loan at 3.5% is better than a shorter loan with a higher monthly payment.“, explain Florian Dussoulier.
Potential costs to keep in mind
In the event of a change of establishment, whether for borrower insurance or as part of a broader renegotiation, it must be kept in mind that not all banks adopt the same strategy. “You should always start with your bank, then compare with the competition», advises Florian Dussoulier. THE early repayment compensation (IRA) must also be included in the profitability calculation, particularly in the event of credit redemption, change of bank or sale of the property before the term of the loan.
Even during a renegotiation, the borrower profile remains analyzed. Banks favor profiles in Permanent contractbut an independent retains all his chances if he can present at least three solid balance sheets and a forecast.
Renegotiating your home loan can be a winning operation provided you adopt a global approach. “The mistake would be to believe that rates will drop suddenly and that everything will be easily renegotiated », concludes the expert.
