To buy a house or an apartment always (or almost) has to go through the “Bank Loan” step! The rules are continuously changing and recently the loan brokers have seen a major change in their business model imposed by the banks.
What does a loan broker?
A loan broker is a third party, natural or legal person, that acts as a go-between for a borrower and a lender (a bank or a financial entity). After receiving accreditation by the banking authorities, the broker does not need to be attached to a specific bank. Therefore, he can offer to his customers the best services, placements, investissements or bank credits based on comparison of the competitive offers.
For example, if you want to buy a property you may surf online to find the best offers. But they only be estimates that may not be possible in the end. In fact, the conditions to obtain a housing loan are often difficult to understand for non-specialists. While a loan broker has the necessary knowledge to help you identify the best offer for your personal situation.
Why see a loan broker?
The loan broker will save you time in getting your housing loan.
He has the competences and the deep understanding of the conditions to obtain a loan as well as the knowledge of the banks or financial institutions profiles, which he will use to base his advise for one solution or another.
The loan broker takes the time to listen to you, to prepare a complete file on your wealth situation and will explain to you the advantages and risks for each offer on the market. That’s why he knows which offer will best corresponds to your current housing project.
How does it work?
In general you will have to sign a mandate (mandat in French) so that the broker can contact directly the different banking institutions for you. Most of the time, the broker will present to you several offers with different rates, annuities and duration lengths. It is up to you, borrower, to choose one of them and to finalize the file directly with the bank that offers the loan you want.
For each project there is the best financing solution. AEF-France.immo’s experts have gained a real know-how in this domain and will be able to present to you the best solutions to finance your investment projects.
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