It is important to prepare your credit project well, know the current offers and rates and the traps to avoid in order to negotiate your credit properly.
It starts before the meeting with the banker, by looking for information on sites specializing in credit to know the trends in rates, for example, and the form of credit best suited to your project.
Of course, do not limit yourself to a single loan offer and compete with credit proposals.
What you have to think about also negotiating before signing the loan, are the possibilities of postponing monthly payments and the postponement conditions. Also negotiate prepayment penalties (maximum rate 3%) or have them removed altogether.
Remember to check that in the case of a variable rate loan to verify that the variations are capped.
To play competition also for insurance linked to credit, often an “attractive” rate hides an insurance which is much less (Murcef law).
Always take the time to read the entire contract before signing it and do not hesitate to seek advice from specialized people.
Compare multiple loan offers
It is often important to compare several credit offers.
The only way to compare these loan offers is in the first place to present the same project to all the credit institutions.
It is your project and not theirs so the simulations after a good advice on the assembly must be identical on the amounts and the type of loan.
Then choose an identical rate base (example: a fixed rate) and compare the proposed monthly payments.
Distinguish the cost of insurance and dissociate it so that you can better compare it later. Simply say, however, many financial advisers do not offer you this approach, because they will try to slip into the mortgage offer, many services that you will not necessarily need and therefore try to hide them in the monthly payment.
On the other hand, some advisers, even less scrupulous than others, speak at actuarial rates and not proportional as usual. it’s very technical, so compare the monthly payments to pay the right price.
This is the period during which the borrower has the opportunity to retract, that is to say to renounce his request for credit.
In principle, this period is 7 days from the date of acceptance of the prior credit offer by the borrower. It can be reduced to 3 days in the case of an affected credit. It is 14 days in the event of distance selling.
Sending of the withdrawal slip: It must be sent, by registered letter with acknowledgment of receipt, at the latest on the last day of the withdrawal period, to the bank or to the lending credit institution (in principle, do not send it to the salesman).
Good to know: if the last day of the withdrawal period is a Saturday, Sunday or a public holiday, the period is extended until the next working day.