In loan buyback, the valuation of a property is of particular importance for those wishing to purchase a mortgage loan by grouping financial credits.
Principle of valuation of real estate
Remember that unlike a standard mortgage loan, lenders in this area give an essential credit to the market value of a property that must cover very clearly the amount of the loan requested. Very schematically, the banks of the credit union can not lend more than € 80 for € 100 worth of property and this both for reasons of risk, but also refinancing on the interbank markets. In conventional real estate loan, this model is very different, because, in acquisition or consolidation of mortgage loans, loans can reach 100% of the financing except for the notary fees and taking guarantee. The risk is very different.
Real estate valued by a notary in the repurchase of credit
The value of the real estate is therefore fundamental to buy back credit and some experts in the field are essential for banks to know precisely what is the market value of a house or apartment. For applicants for a credit union, the ideal is to have beforehand an idea of the value of their property in order not to expose themselves to a possible refusal. A notice of notarized value is therefore welcome. However, other sources of expertise also have a relevant opinion such as real estate agency estimates as well as some real estate experts, in particular, those approved by courts of appeal.
Expertise in loan redemption
In any loan buyback procedure, a real estate appraisal will take place. When the analyst in charge of a mortgage file validates the feasibility of the latter, he will send a copy of it to the lending bank, but also to the notary responsible for the drafting of the act and at this stage, an agreement or pre-agreement is possible and even often proven. However, it is the final value given to the property in question that will determine whether or not the bank will publish a loan offer. It is for this reason that expertise will be promptly deployed by the banking intermediary to be certain that the mortgage portion corresponds to the criteria retained by the bank. It is also depending on the quality of the file that the latter will eventually vary.
- The raised hand of mortgage and the repurchase of credit