May
17
The OnGoinG Process!
Filed Under Daily
Last week, I signed a pre-contract to buy a new studio, 131 000 Euros + 3741 Euros in Fees: 134 741 Euros in total.
My personal scheme to pay this loan is as followed:
Personal Saving: 26 741
State Loan (0% interest): 43 230
Company Loan (2.25% interest): 15 000 (Maybe 20000)
Banking Loan (2.96% interest rate): 49768
The main idea is to get rid of the Banking Loan in 7 years combined with the Company loan in 12 years. The State Loan is differed during 7 years and will take the relay after the end of the Banking Loan.
Scheme:
0-7 years: Banking Loan + Company Loan= 670+122= 792 Euros / month
7-12 years: Company Loan + State Loan: 122 +461 = 583 Euros / month
12-15 years: State Loan: 461 Euros / month
I have applied to the Company Loan and if all is well, I might get a bit more than the minimum allowed. It can only help reduce the total cost and the duration. Indeed, as soon as the Banking Loan is over, I can pay the other 2 loans whenever at no extra cost. It took me few days to optimize this scheme and to explain to some banks. Most of them do not propose these schemes because they are a bit more complex and they do not want to reduce your cost. Anyways, 4 banks have already agreed.
I have sent my application to get the Company Loan, my company has agreed. Everything should be fixed in a week or two.
The total cost should not exceed 8000-9000 Euros. It is not too bad for a loan that will span over 15 years! In fact it will be much shorter but it might be in my interest to keep the State Loan since it only has the insurance cost.
TADA!
wowwww! super je suis contente pour toi 😀
🙂 et toi à quand l’achat?
c’est vrai hein: je ne me fais plus du tout tres jeune. Ma familia voudrait que j’achete une maison au bled,c’est le reve de tout immigre, une grande maison au bord de la plage a 35C, a des prix moins chers que l’occident. Mais j’ai ce sentiment de ne pas pouvoir/vouloir repartir. J’aurai prefere acheter une maison dans le pays ou j’habite mais pour l’instant l’angleterre n’est pas le pays ideal: cambridge est beaucoup trop cher et le climat beaucoup trop mauvais 🙁