Guarantee of real loan
Guarantee of real loan
In France, at the time of the purchase of a Real estate, the Banque S which finance acquisition can ask for the borrower guarantees of various orders. Thus, in the event of nonrefunding of the loan by the borrower, the banks will have solutions making easier recovery the funds than they have advanced.
To guarantee the loan, several choices are possible:
Mortgage
It is a traditional guarantee causing certain expenses (in particular the tax of land publicity and the obligatory recourse to a notary for its inscription with the Land Registry). The mortgage comprises a Mainlevée, being able to cause additional expenses in the event of resale of the real estate before expiry of the loan.
Inscription in Privilege of Lender of Sums of money (IPPD)
It is a traditional guarantee relating only to the old goods. It is less expensive than the mortgage (not of tax of land publicity). The IPPD comprises a Mainlevée, being able to cause additional expenses in the event of resale of the real estate before expiry of the loan.
Company of guarantee
The banks created Sociétés of guarantee, which, following the example guarantee for a lease, ensure the refunding of the loan in the event of non-payment by the borrower. The company of guarantee then has a recourse against the borrower. With the difference of the mortgage and privilege of lender of sums of money, this guarantee, although paying, does not involve a registration fee with the conservation of the Hypothèque S nor of Frais of notary. The guarantee does not require a Mainlevée. It is about a Informal agreement which does not have formalism particular Juridique. It is granted by the banks according to the amount of the loan and the personal capital contribution for the purchase of the real estate.
mutual Guarantee “civil servant”
It is a guarantee particularly interesting for the Fonctionnaire S and certain particular activities (research…).
Joint and several guarantee of a private individual
It is a guarantee similar to that carried out within the framework of a Consumer credit. It is however little used in the case of a Real estate credit, the banks preferring a banking guarantee or an inscription. In the case of acquisition of a real estate by a small moral person (for example a real civil society), the banks almost systematically require a joint and several guarantee and indivisible of the whole of the associates.
See too
- Ready real estate
External bonds
- Of new forms of credit was installation in France: the mortage life annuity and the refillable mortgage