As part of the subscription to the mortgage loan, a visit to the notary involves a notarial deed and a mortgage registration, two transactions involving fees that may be included in the financing. Criticism at cocinaconcarmen.com
Real estate loan and notary
Any real estate purchase that will be done on French soil will involve going to the notary, because it is the only profession that can attest under French law that you own the property in question. The notary has a right, that of being able to draft notarial acts allowing to give a right of ownership and within the framework of the mortgage, this passage is obligatory.
Going to the notary will also require paying fees, an amount that can be included in the real estate financing or can be supported by a personal contribution, especially when the loan is accompanied by a mortgage, it that is to say an entry in a register specifying that the bank will benefit from the property in case of non-repayment of the debt, a registration that also requires the payment of fees from the borrower.
The notary fees to be paid for a mortgage
The borrower will have to pay the notary fees, they are on average estimated at 5% of the amount of the value of the real estate, which can represent a significant sum when the borrower does not have contribution in particular. It is therefore possible to be able to pay these fees “required with the release of funds” to request a loan to 110%, financing covering the purchase of the property and ancillary costs.
The borrower will then have the necessary amount to pay the fees and allow the implementation of real estate financing, the notary fees will be included in the mortgage, allowing the logical and classic course of a visit to the notary and then the release of funds. Note that some notaries apply different fees, the fees may be higher depending on the municipalities and regions, it is also possible to negotiate these fees with the notary. The registration fees are fixed by a national scale and therefore non-negotiable.
Get your mortgage with notary fees included
The inclusion of notary fees will therefore require an unassisted borrower to request an amount greater than the price of the house or apartment. We must count on an amount of 110% and therefore file an application for the amount of the property plus 10%, this is done directly from the mortgage simulator home.
By following the different steps and completing the information requested, the simulator will allow to receive several offers of real estate loans from different organizations, thus facilitating the comparison of credit offers and obtaining financing at the best conditions. It will be useful to specify the inclusion of notary fees at the beginning of the process to forecast this amount in the home loan.