Urgent Personal Loan – Agreement in principle within 2 minutes

An urgent need for funding for a personal project? Our website, an online credit specialist, can help you find a personal loan as soon as possible if you do not have a lot of time. To do this, simply fill out our credit application form, and indicate your needs.

In less than three minutes, you will have access to a comparison putting in competition the biggest credit organizations of France. You will then only have to make your choice to finance your project as quickly as possible, without asking for proof.

Benefits of a personal loan for pressing financing needs

It’s a way of managing your finances. A personal credit is included in consumer credit. It is generally devoted to the purchase of consumer goods (vehicles, household appliances …), Accreditation (travel, stays) or the settlement of work intended for home improvement.

Loans are generally between 1500 and 21500 euros. The repayment terms vary between 12 and 60 months. Upon acceptance of the credit the borrower knows the amount of the monthly repayments and the duration of the repayment.

The amount of the monthly payments is generally fixed, which presents a positive point for the management of its budget.

Currently the rates for personal loans are relatively low. The obtaining of a personal credit is not subject to a justification of the use of the sums lent. A consumer credit is refundable, in whole or in part, in advance without any penalty payment.

In case of difficulty, some organizations agree, each year, to defer one or two monthly payments.

Divorce and Personal Loan – What to do?

The couple is often led to jointly contract financial commitments for more or less significant amounts.

This is often the case for a personal loan , very practical on a daily basis to carry out your projects, which can easily become a concern if the relationship starts to deteriorate and suggests the possibility of a separation.

Whether it is a divorce, the dissolution of a PACS or simply the end of a common-law relationship or a concubinage, this change in marital status always has consequences for the bank commitments taken together. .

Basic rules

At the time of separation, the sharing of goods purchased in common remains the main topic of choice. However, the situation is more complex when the property has not finished being paid and the loan is still running. Once you buy a personal loan for two, you become co-borrowers.

Any agreements and arrangements you may make between you as to the payment of maturities after your divorce are unenforceable against the bank. In fact, spouses are still required to repay the loan until its term, and if one of them does not face its monthly payments, it is the other who will have to fill.

Principle of solidarity

It is about the principle of solidarity between spouses which concerns all the debts subscribed during the marriage for the good of the household without exception, and thus which benefit the two, even if they were contracted only by a single member of the couple.

As such you can not break your commitment, even if your income has changed. It is the same if one of the co-borrowers has no or no use of the vehicle acquired on credit or if he has not used for his personal needs a single penny of the personal loan granted to both persons .

Nevertheless, if the personal loan was taken out individually during the marriage by one of the two spouses, the borrower remains solely liable for its repayment.

In the case where it was intended to maintain the home or falls within the scope of the education of children, Article 220 of the Civil Code still provides for solidarity between spouses and a joint responsibility on the repayment of the loan.

Regularize the situation in the case of a joint account

This type of account is very convenient for paying common expenses. You have certainly taken out a personal loan to finance a family project but now that you separate, you must take into account that you are in solidarity with your debts related to it.

If the divorce takes place without tension, you will not encounter any particular problems. However, if the context is not favorable, it is advisable to arrange the situation without waiting because you may end up with deadlines to honor that does not concern you and worse, to not see a dime on the account .

The simplest approach would be to close the joint account in agreement with your ex-spouse and to repair the credit amicably.

Call on the bank

Otherwise, call on the bank to dissolve the joint account that will become a collective account. This means that a double signature will be needed to perform an operation. This system is not practical but the management will be more secure.

In addition, you have the opportunity to join the common account by registered mail with acknowledgment of receipt, which will allow your former spouse to keep the hand on the account which will then be completely individual.

Beware of any proxies

If you think you are not affected by the fact that you have an individual account as your main account, pay attention. You collect your salary and do most banking from this account that works under your unique signature.

After the separation, its management remains unchanged but it is likely that you granted a power of attorney to your spouse at the time of the opening without even reminding you.

Possible payments

He has the possibility to make payments as well as checks transfers without you have the right to refuse him. If you doubt giving him power of attorney, contact your bank advisor without delay.

In the case where a power of attorney is present, send a registered letter with acknowledgment of receipt to the bank holding the account to express your desire to denounce the delegation in question. You are under no obligation to inform your ex-spouse, unless he still has in his possession a credit card or a check book that he will return to the bank.

The transfer of the personal loan

It’s not because you divorce that the current personal loan disappears. Your commitment is still valid and you are both required to repay the monthly installments of the joint credit, regardless of the legal nature of your former union.

None of the co-borrowers can decide alone to disengage from the financial institution and let the other pay the full amount of the repayment. To put an end to the financial commitment that binds you, it is necessary to dissociate as quickly as possible your financial interests in order to regain your bank independence.

A common credit

The credit contracted in common is then transferred in full to only one of you, in this case the person who will benefit from the property acquired through the sum of money lent.

In this context, the bank renounces the guarantee of one of the two co-borrowers and the second reimburses only the remaining monthly payments either with its initial guarantee, or with a new guarantee possibly required by the credit institution.

Indeed, the transfer of the personal loan represents a risk for the financial institution that can only rely on one debtor to repay the credit. As a result, an in-depth analysis will be put in place to examine the borrower’s resources and repayment capacity after deducting the costs associated with the separation. In case of agreement, the liquidation of community must be recorded at the notary.

Finally, the separation will become effective once the divorce and all formalities completed.

A common agreement

Credit institutions are entitled to refuse that a consumer loan is taken over by one of the co-borrowers while it was initially underwritten by two people in solidarity. It is therefore essential to organize yourself so that the deadlines are regularly honored or your details will be entered in the credit reimbursement file.

If you financed a vehicle through the personal loan, the subject of your property may give rise to litigation.

Who is the owner?

It must be known that the only owner of the vehicle is the one who has paid the price or paid the installments of the loan to finance the car. In case of disagreement on this subject, it will be up to the one who feels aggrieved to seize the court so that it decides on the ownership of the vehicle concerned.

In the context of a separation, it is always preferable to privilege the dialogue to find an amicable agreement in all serenity and thus avoid difficulties that will only get worse. If you can not decide who will buy the credit, you still have the choice to sell it.

The sale price then makes it possible to refund to the credit institution the capital remaining due and the surplus is shared between the spouses.

Early repayment

If you want to break the common financial commitment, another solution is to prepay the entire personal credit or more than your share taking into account the conditions in the loan agreement.

If your means allow you, you are thus discharged of your obligations and you will then have the possibility to turn against your former spouse to recover your due.

For your work, consumer loan or mortgage?

That’s it, you’ve spotted the house or apartment you dreamed of, maybe you’ve even bought it! Maybe you wanted to do some work : new kitchen, facelift? This is where the fateful question arises: how to finance your work?

Two options are available to you: dig into your savings or borrow money through a home loan or consumption, so far nothing wizard.

So to guide you in your choice, let’s list together the advantages and disadvantages of each financing solution. The goal is to make this issue clear like rock water. We take the bet?

1. Finance work through a home loan

The property of your dreams deserves some work but you do not have enough cash to finance them. Know that you can add their amount to your mortgage.

If your contribution is greater than the fees ( notary and guarantee), we advise you to deduct your contribution from the main loan. Thus, you will finance the works with your own funds.

On the other hand, if you have a limited contribution to the costs (notary and guarantee) or even lower, you will have to add the cost of the work to the main financing. So the bank will finance your work. Remember that you will be asked to provide contractor quotes or materials. You must have the cost of this work estimated before the loan is taken out.

The advantage of having your work financed by a mortgage is mainly the cost of credit. Indeed, a home loan and much cheaper than a consumer loan (synonymous with a high rate loan for a short time).

Financing of works during a real estate acquisition

Some of the work you do can be included in a home loan. You would be wrong not to take advantage of it. Indeed, if you wait, it will be more complicated to get another home loan just for the job. Your bank will prefer to refer you to a classic, shorter and higher rate loan.

In addition, when setting up the loan with works, the two lines of financing will be adjusted so that the deadline remains the same during the loan period by including these “works”. This is impossible with the personal loan that will only increase your debt and your monthly expenses.

Financing of works alone

Be reassured, to benefit from a mortgage to carry out works by being already owner, it is possible. However, to qualify for a post-financing of works, there are certain criteria to respect:

  • Do not have any guarantee of taking on the property ( surety company or mortgage guarantee), it is often linked to a loan. The bank that will finance the work wants to take a guarantee and be the only one (we understand it). So two possibilities exist: either it buys the current loan, or it is the same bank that already holds the main funding.
  • duration
  • Amount
  • Purpose of the work

2. Finance jobs with your personal savings or a consumer loan

With your personal savings

You finance yourself the arrival of a company or buy the equipment to carry out the work. This seems to be the simplest solution because you no longer have to show your quotes to the bank.

You can say goodbye to the costs of guarantee, insurance and interest related to the loan work!

With a consumer loan: the criteria for financing work with a mortgage

The consumer loan is simple and quick to obtain. There is no real estate guarantee (no deposit, no mortgage guarantee), nor insurance obligation. Attractive is not it?

Not so fast! A consumer loan raises some constraints:

  • The repayment period is very short: it is often between 1 and 5 years (especially since the monthly repayments are high)
  • The loan rate is higher than a home loan
  • It is difficult to smooth a consumer loan to a mortgage so monthly payments are added. This reduces your debt capacity for future projects, or even prevents you from applying for other loans.

We only have one advice: carefully determine your projects in the short and medium term if you subscribe to a consumer credit. In fact, if you do not want to pay too high monthly payments but keep a real debt capacity and an acceptable living balance, go your way. Consumption loan is not always the best solution.

All work is not financeable in mortgage

To find out if your work can be financed by a mortgage, here is the good question to ask: “Will I be able to take away what has been financed? ” The answer is no ? So think about taking a mortgage. Easy !

The answer is yes ? So there is no choice but to finance these works by your personal savings or a consumer loan.

Need an example? Let’s go! A kitchen, a bathroom, a fireplace or a dressing room can be included in a mortgage, home appliances or decoration. Below a table helping you to see more clearly and no longer hesitate during your purchase:

Works to be financed Eligible for a mortgage?
Fully equipped kitchen without appliances Yes
Home appliance no
Bathroom Yes
Outside gate Yes
Garage door Yes
Garden: furniture or green spaces no
Shutters Yes
roofing Yes
cleaning Yes
Works voted by the general meetings of the syndics of co – ownership Yes
Boiler Yes
Floor tile Yes
Fireplace Yes
dressing Yes
Veranda Yes

What home loan surety to choose for his loan when one is civil servant?

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Getting a home loan is more or less easy depending on your professional situation. Thus, civil servants enjoy certain benefits. And yes, you do not risk losing your job and it is a major asset for banks.

In addition, some specialized bonding agencies for civil servants offer very attractive rates. We will introduce you to the different organizations and their benefits.

1. The home loan surety

The guarantee is mandatory to obtain a mortgage. It insures the repayment of the bank in the event of default of payment outside the cases covered by the borrower insurance . There are two types of warranty:

  • The real guarantees taken on the real estate
  • Personal guarantees are the evaluation of your solvency and are issued by surety organizations such as Crédit Logement .

These real guarantees can be either a registration lender’s lien (IPPD). The lender (the bank) has a lien, in case of default of payment, the real estate will be seized to be auctioned . The mortgage operates on the principle that the IPPD applies to all situations, unlike the IPPD.

Personal guarantees are taken by sureties that assess your creditworthiness . In concrete terms, they also study your file and can refuse it even if the bank accepts it. This type of guarantee is often less expensive because unlike the mortgage, you do not need a notary and in case of early repayment you will not pay a prepayment fee.

You can use collateral in different types of real estate project. We have summarized in the table below the different cases.

    Real guarantees Personal guarantees
    IPPD Mortgage pledge Bail
Initial loan Old off work or nine completed Always possible Only for loans in fine, most often doubled by a deposit, IPPD or mortgage Yes except for loan NOT, subject to acceptance
Individual house construction – Land
Construction detached house – House Impossible Always possible
Works on good old
VEFA Impossible
Except if purchase during construction (IPPD applicable to the part already built)
Other loans Loan purchase Impossible
Loan ready

Public service employees can enjoy benefits on the guarantee. Indeed, there are dedicated organizations.

2. Real estate loan guarantees for civil servants

If you choose a personal surety, you must necessarily go through an organization. As explained above, the organization will take over in case of unpaid. Some mutual funds offer very advantageous conditions for civil servants.

Public servants, not the only privileged

A mutual bonding agency official works pretty much like a conventional bonding agency. However, they are only for certain professions:

  • National Education officials
  • Police and Gendarmes
  • Hospital employees
  • The agents of the SNCF
  • Employees of the Post

This type of organization generally operates in a mutual mode. The organization has a mutual fund to which you adhere, that is to say, the risks are pooled. In case of unpaid, the fund will pay your mortgage. The guarantee is used when the borrower insurance no longer covers the outstanding payments.

The conditions of access to the official guarantee body

The conditions for granting this type of guarantee are very strict . You must be able to present a file with a debt ratio lower than or equal to 33% and a personal contribution that can cover notary fees and the implementation of the guarantee. The duration of your mortgage can also be a factor of acceptance or refusal by the surety organization.

Before you find out about the different bonding agencies for civil servants, you need to know in which bank you will borrow. Indeed, not all banks have an agreement with all mutual guarantee organizations.

3. Other benefits for civil servants

An even lower cost of credit

A mutual guarantee organization offers several non-negligible benefits and can significantly reduce the total cost of your mortgage. First of all, certain organizations propose to the “good customers” to repay the paid premiums at the end of the guarantee if you have not encountered payment incidents .

In addition, with your status as a public servant, you have job security. You are therefore a good profile for banks that do not fear the inability to repay the loan. Combine your professional situation with a body of recognized deposits, the banks will want to offer you an interesting mortgage. They will be able to offer you lower interest rates .

There are other advantages, the administrative and legal formalities of setting up the guarantee are more flexible. You do not need to formalize the guarantee with a notary. The borrower therefore saves on the total cost of credit through simplified procedures. In addition, the auctioning of the property , in case of default, is the last resort. It is therefore rare that your property is sold in case of non-payment of monthly payments.

Mutual guarantee agencies official

There are different mutual guarantee agencies for civil servants. However you can not choose the one you want. Indeed, not all banks necessarily work with mutual guarantee companies. In addition, some banks work exclusively with certain organizations.

The best known company is CASDEN. This cooperative bank of the public service proposes to subscribe to a guarantee without expenses. This organization dedicated to teachers has been open to all professionals of the public service since 2015.

The people’s bank , BRED and BRED Espace in particular work with CASDEN.

Other known organizations offering this type of guarantee are:

  • The Social Credit of the officials
  • The MFP services ( Société Générale works with the MFP)
  • The general mutual of the National Education

First real estate loan: all you need to know about home loans

  1. First real estate loan: define your real estate budget

You start thinking about buying, but this is just the beginning of the queries. Now you have to calculate your real estate budget: the maximum price you can pay. For this you need to define your contribution and the amount you can borrow.

Create a personal contribution

The personal contribution is the amount of money you will have to pay from your pocket for the purchase. Generally banks ask to bring at least 10% of the price of the property, which corresponds to the notary and guarantee fees . In fact, the more you bring, the more your banker will be reassured – but this is not a reason to make funds drawer!

You will probably use your savings to make a contribution. If your money is placed on different financial products, empty those that do not affect your tax system. Choose an outflow of funds from PEE or your PERP than from your life insurance for example. If it’s possible, do not put all your savings into the contribution, because you have to pay attention to hidden fees and unexpected expenses.

If you are buying an apartment or house for the first time, your parents or grandparents may be willing to help you. In this case, two scenarios are possible, either they make you a loan, or they make you a donation. In both cases, check the formalities .

In addition, promoting access to property is a strong political will in France: the State and the local authorities are working in this direction. Many support schemes for people wishing to buy have been set up such as: Zero Rate Loan ( PTZ ), Social Accession Loan (PAS) or local loans.

Optimize your financing plan

Calculations to optimize your borrowing capacity can not be done head-on, and we can only recommend that you use the Pretto simulator that was designed for this purpose .

To calculate your borrowing capacity, you must know the maximum monthly payment that the bank will let you repay. This maximum monthly payment depends on your debt ratio, which is said to (much) simplify that it should not exceed 33%.

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This debt ratio is one indicator among others, and not a strict and systematic criterion. If your financial situation is easy and stable, you can borrow beyond the limit of 33% without affecting the rate. But what will be the amount of your monthly payments and therefore their impact in your daily life?

The rest to live is another indicator for assessing the standard of living of a person or a household. This is the sum you have after the payment of your recurring expenses, and this over a month. In addition, the load jump calculates the difference between your charges before and after the credit.

To optimize your financing, duration is a variable on which you can also play. It depends on your age. Your loan must be fully repaid before blowing your 70th candle. On average, home loans are underwritten over 18 years, with a possible duration of between 5 and 30 years (in reality, they are often repaid before and last 7 years on average in France, because buyers resell). This leaves you the choice!

2. Go through a broker to make a mortgage

Brokers have better rates than banks

The broker is an interlocutor between you and the banks. Its job is to know the conditions of all the banks and to indicate to you the offer most adapted to your project. You save time, money and white hair.

The role of the broker is also to give you an expert opinion on your project and help you achieve it. He knows how to guide you beyond the simple real estate rate : the borrower insurance , the modularity, the exemption of prepayment, the guarantee are elements that will have an impact in a few years and on which you probably need to be advised today. He prepares your application for a mortgage.

There are different types of brokers governed by this regulation, and the quality of their service differs:

  • Traditional brokers in an agency prepare in detail your file, but are paying (up to 3000 €) and only work with bank branches close to theirs.
  • Linking sites are free, but do not prepare your loan file and do not negotiate your rate: they just make an appointment with a bank.
  • Pretto brings together the best of both worlds: complete service up to 100% free online signature

Reduce costs with Pretto

Pretto is an online broker that makes the mortgage easy. Our mission is to find the best mortgage for you, for free and online. The peculiarities of Pretto? A team of experts accompanies the borrowers from A to Z: optimization of the financing plan, constitution and valuation of the file, personalized negotiation with the banks.

Because your time is precious, we are reactive and treat your file as quickly as possible. We also want the service we render to you to be transparent and with no commercial impact, because it is the service we would have liked to receive. We do not retain information, and are transparent about the progress of your file!

Here’s how Pretto works:

  1. Realize a mortgage simulation on app.pretto.fr and discover the rates of the banks for your project;
  2. Register and make an appointment with your Pretto advisor to refine your project and communicate your expectations;
  3. Submit your vouchers and your advisor analyzes your file;
  4. We negotiate with a large network of partner banks and you follow the progress of your loan application in your customer area. Our customers are satisfied Our greatest joy is to see the satisfaction of our customers when their project comes to an end. Find their opinions and comments on fr.trustpilot.com/review/pretto.fr .

Our loan simulator is easy to use and reliable in its answers. You will only have to answer a few questions to discover the property rates and conditions that we can obtain for your project. Then, our experts take over to refine and optimize your financing plan, but also study the parts of your file.

We do more than negotiate the interest rate: we hunt for expenses (insurance, guarantees, penalties in the event of early repayment, etc.). Pretto takes care of everything!

In order to prepare your project in advance, we advise you to register on Pretto as soon as you start your real estate searches and make a first appointment. You will make an important decision: an expert Pretto is here to guide you. He analyzes your project, answers your questions and accompanies you in your choices. !

3. Get the best mortgage

The operation of a mortgage is not very intuitive! Here are some explanations. Most of the real estate loans granted in France are called “amortissables”. Their duration varies theoretically from 5 to 30 years. How does it work ? Already, remember that you will pay interest and a portion of the capital at each monthly payment, but the share of one and the other evolve during the loan. Furthermore :

  • Monthly payments are constant;
  • Interest is proportional to the outstanding capital . They are therefore important at the beginning of the loan and decrease with time. Conversely, the share of capital repaid each month increases.

The interest rate, factor 1 of the cost of credit

It represents both the main cost in financing a real estate acquisition and the heart of bank mechanics. To meet your mortgage application, the bank sets an interest rate based on your profile and the nature of the loan. And the more your project is perceived as risky or unprofitable for the bank, the higher the interest rate will be. The interest paid corresponds to the interest rate multiplied by the capital remaining due. Compare rates !

The borrower insurance and the guarantee

You can not cut it, subscribe to a borrower insurance is required to obtain a home loan. And so much the better, since it guarantees the repayment of monthly payments in case of a hard blow. It’s even a great way to protect yourself and your family.

There are several possible levels of coverage, from the subsistence level to more comprehensive coverage. Death insurance is mandatory. It ensures repayment of the loan in case of death of one of the co-borrowers. It is coupled with one or more disability insurance. There are several types of contracts covering different degrees of disability (partial or total) and inability to work (temporary or irreversible). Insurance is an important part of the total cost of your real estate project, up to a third! In addition to the amount of the loan, other information is needed to determine the cost of a loan insurance: your health, your profession and your hobbies. Depending on the answers given, the insurer will suggest a formula adapted to your profile.

To protect themselves more against the risk of unpaid bills, banks require that the loan is also covered by a guarantee . It allows the repayment of the credit in case of default of payment outside the cases covered by the insurance.

Conditions related to the loan

The interest rate has a major impact on the total cost of your credit, but focusing exclusively on it would be a mistake. Loan conditions may affect the cost as of subscription or later in the life of the loan. Be careful!

This guarantee costs you about 1% of the loan amount. On average, a mortgage is paid back after seven years, so before the end of the term .

This is called early repayment. To compensate for the shortfall, the bank sometimes charges reimbursement fees . You can negotiate them, do not hesitate. Other conditions may be useful, such as the franchise , the modulation , the postponement of maturity or the transferability.

Financial difficulties with a loan, think about postponing deadlines

Certain conditions may be backed by a mortgage. It must be subscribed from the beginning. They allow for more flexibilities throughout the life of the loan and to guard against certain risks. Among them, the postponement of monthly payments (also called the suspension of maturity ) allows you to breathe in case of a hard blow. We detail you how it works in the article that follows.

1. Postponement of maturity for your temporary financial difficulties?

On average, borrowers subscribe to a 20-year loan. And even if the actual duration is only 7 or 8 years, it’s a long time! An unexpected event has arrived quickly and we must guard against it. When subscribing to your loan, make sure you do not have to worry about financial problems.

A job loss, a birth can upset your finances. The postponement of monthly payments, as its name suggests, allows a break in monthly payments and postpone their payment. This break can vary from one month to several months. This is a good option that allows you to avoid more serious situations such as non-payment .

2. The operation of the monthly payment

Total or partial postponement

If you need to postpone your deadlines know that there are two types of mechanism.

  • Total due date: You choose not to pay anything for a set period of time to deal with a temporary financial difficulty. Thus, you do not repay the capital and do not pay interest. You still have to pay the loan insurance. At the end of this period of suspension, you resume repayment of your credit.
  • Partial expiry: In this case, you stop the repayment of capital but continue to pay the interest. You also pay for loan insurance.

Not all banks agree to put in place a full and partial deferral of monthly payments. For example, with the Land Credit , you can only request a partial report.

Consequence on the duration of the loan

Of course the credit carryover has an influence on the duration of the credit. Depending on the type of report, the impact is different.

By definition, as you stop repaying the loan, the term is lengthened. However, if you choose a total carry forward, the interest will not be paid over the period and will be added to the outstanding capital . If capital increases, two solutions:

  • Increase the loan duration
  • Increase monthly loan payments

The second option seems unthinkable because you have precisely used this mechanism because of the difficulties to pay the monthly payments. Why increase them? The duration of the loan is lengthened.

Consequence on the cost of the loan

The sooner the suspension expires, the more it will cost. In fact, at the beginning of the loan maturities mainly consist of interest , which will therefore affect the increase of the capital to be repaid. While at the end of the loan, you repay a larger share of capital.

In addition, during a partial report, you pay interim interest . They are constant and calculated on the capital remaining due at the time of the request for postponement. These interests are added to the total cost of the loan. The partial carryover is a suspension of credit for a fixed term.

In the case of a total deferral, the outstanding capital is increased by the unpaid interest. You will therefore pay interest on interest and the cost of credit is increased. The cost of your credit depends on the interest portion in the due date.